FUSION ASSOCIATES LIMITED

💤Zombieactive
04249203 · ltd · incorporated 2001-07-10
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Dec 2025
Net worth
—
book net assets
Opportunity
74/100
Strong
🔔
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What this business does
Primary activity: SIC 46740
Sector: Wholesale & retail
ALSO REGISTERED FOR
  • 70229Management consultancy activities other than financial management
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 74/100 (strong), bankability 67/100. Strong seller-intent signal (68/100, director aged 55). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

4 live charges · 4 lenders · oldest 21.7y

15/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 21.7 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (81/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile
address, 2 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
6 officers (1 active, 6 linked, 3 with DOB)
80
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
118 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
60
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Dec 2024Dec 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-12-312024-12-31
Average employees1100

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

1 signal detected in this company's narrative notes — going-concern language, audit opinion, contingent liabilities, related-party transactions.

Available from the Pro tier upwards.

See pricing →

Recent activity

Last 30 days
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (38 events)Click to expand
  1. 2026-04-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-05-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-04-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-04-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-11-14
    ✏️
    certificate-change-of-name-company
    change-of-name · CERTNM
  6. 2022-07-27
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  7. 2022-07-27
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  8. 2022-07-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2021-12-07
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2020-07-22
    📄
    change-person-director-company-with-change-date
    officers · CH01
  11. 2020-07-22
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  12. 2020-07-22
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  13. 2020-07-22
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  14. 2020-06-05
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  15. 2020-05-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  16. 2020-05-01
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  17. 2020-03-27
    ➖
    ROSE, Stephen John resigned
    secretary
  18. 2020-03-27
    ➖
    ROSE, Stephen John resigned
    director
  19. 2019-09-27
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  20. 2019-09-11
    📄
    capital-allotment-shares
    capital · SH01
  21. 2019-09-10
    📄
    statement-of-companys-objects
    change-of-constitution · CC04
  22. 2019-04-18
    🔓
    Charge satisfied #3
  23. 2019-04-18
    🔓
    Charge satisfied #2
  24. 2019-01-16
    🔒
    Charge registered #4
    Lender: Rm Secured Direct Lending PLC
  25. 2016-12-07
    🔒
    Charge registered #3
    Lender: Nucleus Commercial Finance Limited
  26. 2016-03-11
    🔒
    Charge registered #2
    Lender: Nucleus Commercial FINANCE1 Limited
  27. 2013-06-22
    🔓
    Charge satisfied #1
  28. 2010-09-17
    ➖
    ATTERBURY, Ian Paul resigned
    director
  29. 2009-11-02
    ➕
    ATTERBURY, Ian Paul appointed
    director
  30. 2004-08-03
    🔒
    Charge registered #1
    Lender: Hsbc Bank PLC
  31. 2001-07-12
    ➕
    THICKETT, Elliott appointed
    director
  32. 2001-07-12
    ➕
    ROSE, Stephen John appointed
    secretary
  33. 2001-07-12
    ➖
    TEMPLES (NOMINEES) LIMITED resigned
    corporate-nominee-secretary
  34. 2001-07-12
    ➕
    ROSE, Stephen John appointed
    director
  35. 2001-07-12
    ➖
    TEMPLES (PROFESSIONAL SERVICES) LIMITED resigned
    corporate-nominee-director
  36. 2001-07-10
    🏢
    Company incorporated
    As FUSION ASSOCIATES LIMITED
  37. 2001-07-10
    ➕
    TEMPLES (NOMINEES) LIMITED appointed
    corporate-nominee-secretary
  38. 2001-07-10
    ➕
    TEMPLES (PROFESSIONAL SERVICES) LIMITED appointed
    corporate-nominee-director

Owner dependency

85/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Long-tenure founder: Senior director has been in place 25 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

75/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 25 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 25 years old and no new directors in the last 3 years — succession not yet being planned internally.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Elliott Thickett
Individual · British · DOB 12/1971 · age 55
75–100%
75–100%board control75-100% shares · 75-100% voting · board control24/11/2021
3 historic (ceased) PSCs
  • Trent Capital Limitedceased 24/11/2021· 75-100% shares · 75-100% voting · board control
  • Mr Elliott Thickettceased 31/07/2019· 25-50% shares · 25-50% voting · board control · significant influence
  • Mr Stephen John Roseceased 31/07/2019· 25-50% shares · 25-50% voting · board control · significant influence

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

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BORDER LIVESTOCK EXCHANGE LIMITED→
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03921464 · est 2000 · no financials extracted
————26y8277y
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SC242541 · est 2003
———2223y8274y
J. W. FORD & SON LIMITED→
SC572224 · est 2017 · no financials extracted
————8y——
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05460464 · est 2005 · no financials extracted
————20y——
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16284459 · est 2025 · no financials extracted
————1y——
MY7 WHOLESALE LIMITED→
SC671671 · est 2020 · no financials extracted
————5y——
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12269913 · est 2019 · no financials extracted
————6y——
PEONY AND SAGE LTD→
10621709 · est 2017 · no financials extracted
————9y——
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————2y——
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———————
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————9y——
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

7 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.

Available from the Pro tier upwards.

See pricing →
🔒Advanced scoring suite

Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.

Available from the Pro tier upwards.

See pricing →

Company details

Statusactive
Typeltd
Incorporated2001-07-10
Jurisdictionengland-wales
Primary SIC46740 — SIC 46740

Registered office

17 Walkergate
Berwick-Upon-Tweed
Northumberland
TD15 1DJ

Filing status

Accounts
Next due: 2027-09-30
Last made up to: 2025-12-31
Confirmation statement
Next due: 2026-06-07
Last: 2025-05-24

Officers (1 active · 5 resigned)

THICKETT, Elliott→
director · ~55y · appointed 2001-07-12
View their other companies + combined net worth →
Active
ROSE, Stephen John→
secretary · appointed 2001-07-12 · resigned 2020-03-27
Resigned
TEMPLES (NOMINEES) LIMITED→
corporate-nominee-secretary · appointed 2001-07-10 · resigned 2001-07-12
Resigned
ATTERBURY, Ian Paul→
director · ~54y · appointed 2009-11-02 · resigned 2010-09-17
Resigned
ROSE, Stephen John→
director · ~54y · appointed 2001-07-12 · resigned 2020-03-27
Resigned
TEMPLES (PROFESSIONAL SERVICES) LIMITED→
corporate-nominee-director · appointed 2001-07-10 · resigned 2001-07-12
Resigned

Click a director name to see their full track record across all companies.

Mortgages & charges

4
Total charges
1
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Rm Secured Direct Lending
Rm Secured Direct Lending PLC
A registered charge—16/01/2019—
satisfied
Nucleus Commercial Finance
Nucleus Commercial Finance Limited
A registered charge2 properties07/12/201618/04/2019
satisfied
Nucleus Commercial FINANCE1
Nucleus Commercial FINANCE1 Limited
A registered charge2 properties11/03/201618/04/2019
satisfied
HSBC
Hsbc Bank PLC
Debenture1 property03/08/200422/06/2013
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (118 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-04-16
confirmation-statement-with-updates
confirmation-statement · CS01
2025-06-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-04-03
confirmation-statement-with-updates
confirmation-statement · CS01
2023-05-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-19
certificate-change-of-name-company
change-of-name · CERTNM
2022-11-14
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2022-07-27
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-07-27
confirmation-statement-with-updates
confirmation-statement · CS01
2022-07-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-07-19
confirmation-statement-with-updates
confirmation-statement · CS01
2020-07-22