SPHERE PROPERTIES LIMITED

🚨Distressedactive
09243109 · ltd · incorporated 2014-10-01
Investment thesis
Attractive distress candidate — real problems but workable structure.
Why interesting: Falling signals but no deal-breakers yet; room for negotiation and turnaround.
Why risky: Signals worsening; needs speed and capital discipline.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2023
Net worth
£-162.5k
book net assets
Opportunity
51/100
Worth a look
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What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Pass (distressed without resilience)
Distressed property-backed borrower — structural issues outweigh the discount.

Opportunity 51/100 (worth a look), bankability 27/100. High owner-dependency — earn-out structure likely required for clean transition. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: distressed disposal / insolvency (65/100). Current lenders should be on monthly review.

🏦

Refinance opportunity

8 live charges · 3 lenders · oldest 10.8y

15/100
under pressure

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

  • · Oldest live charge is 10.8 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (82/100)

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

Company profile
address, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
8 charges (8/8 with lender, 8/8 with type)
90
Directors & officers
3 officers (1 active, 3 linked, 3 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
9 connected companies via shared directors
72
Filing history
50 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
51/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
35
Concerning — overdue filings or status flags present.
Acquirability
55
Some acquirability indicators.
Risk profile
38
Multiple red flags — proceed with caution.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 105 (micro)
Negative net assets
Liabilities exceed assets by £162,468

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
-£162k
↓ 16% YoY
Current Assets
£1k
↓ 97% YoY
Current Liabilities
—
-£162k-£121k-£79k-£37k£5k£47kMar 2022Mar 2023

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)
Metric2023-03-312022-03-31
Total assets£-92.3k£107.1k
Current assets£1.5k£47.3k
Net assets£-162.5k£-140.5k

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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (36 events)Click to expand
  1. 2025-03-11
    📄
    gazette-notice-voluntary
    gazette · GAZ1(A)
  2. 2025-03-06
    📄
    dissolution-voluntary-strike-off-suspended
    dissolution · SOAS(A)
  3. 2025-03-04
    📄
    dissolution-application-strike-off-company
    dissolution · DS01
  4. 2025-03-04
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  5. 2025-03-01
    📄
    dissolved-compulsory-strike-off-suspended
    dissolution · DISS16(SOAS)
  6. 2024-06-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2023-09-26
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2023-03-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2022-03-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2021-03-24
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2019-10-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2019-10-24
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  13. 2019-10-24
    📄
    change-person-director-company-with-change-date
    officers · CH01
  14. 2019-09-02
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2019-09-02
    🔓
    Charge satisfied #1
  16. 2019-07-05
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  17. 2019-07-05
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  18. 2019-07-05
    🔓
    Charge satisfied #2
  19. 2019-07-05
    🔓
    Charge satisfied #3
  20. 2019-07-03
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  21. 2019-06-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  22. 2019-06-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  23. 2019-06-17
    🔒
    Charge registered #8
    Lender: Punjab National Bank (International) Limited
  24. 2019-06-17
    🔒
    Charge registered #7
    Lender: Punjab National Bank (International) Limited
  25. 2019-06-17
    🔒
    Charge registered #6
    Lender: Punjab National Bank (International) Limited
  26. 2019-06-17
    🔒
    Charge registered #5
    Lender: Punjab National Bank (International) Limited
  27. 2019-06-17
    🔒
    Charge registered #4
    Lender: Punjab National Bank (International) Limited
  28. 2016-03-21
    🔒
    Charge registered #2
    Lender: Lloyds Bank PLC
  29. 2016-03-18
    🔒
    Charge registered #3
    Lender: Lloyds Bank PLC
  30. 2015-08-22
    ➖
    AFZAL, Tariq resigned
    director
  31. 2015-08-21
    ➕
    DATWANI, Sanjay appointed
    director
  32. 2015-07-02
    🔒
    Charge registered #1
    Lender: Garhill Limited
  33. 2014-10-01
    🏢
    Company incorporated
    As SPHERE PROPERTIES LIMITED
  34. 2014-10-01
    ➕
    AFZAL, Tariq appointed
    director
  35. 2014-10-01
    ➕
    KIKA, Asif appointed
    director
  36. 2014-10-01
    ➖
    KIKA, Asif resigned
    director

Owner dependency

75/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

45/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

2 high · 1 med · 1 low
Accounts overdue
high

Statutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.

Evidence: Next due: 2024-12-31

Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2025-11-05

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.

5 live charges
low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Gulabrai Sugnomal Aswani
Individual · Singaporean · DOB 08/1953 · age 73
——sig. influencesignificant influence06/04/2016

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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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

11 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
Incorporated2014-10-01
Jurisdictionengland-wales
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

173 Cleveland Street
London
W1T 6QR
England

Filing status

Accounts
Next due: 2024-12-31OVERDUE
Last made up to: 2023-03-31
Confirmation statement
Next due: 2025-11-05OVERDUE
Last: 2024-10-22

Officers (1 active · 2 resigned)

DATWANI, Sanjay→
director · ~53y · appointed 2015-08-21
View their other companies + combined net worth →
Active
AFZAL, Tariq→
director · ~56y · appointed 2014-10-01 · resigned 2015-08-22
Resigned
KIKA, Asif→
director · ~52y · appointed 2014-10-01 · resigned 2014-10-01
Resigned

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

Mortgages & charges

8
Total charges
5
Outstanding
1
Active lenders
Status:Lender:8 of 8 shown
TypeProperties
outstanding
Punjab National Bank (International)
Punjab National Bank (International) Limited
A registered charge1 property17/06/2019—
outstanding
Punjab National Bank (International)
Punjab National Bank (International) Limited
A registered charge2 properties17/06/2019—
outstanding
Punjab National Bank (International)
Punjab National Bank (International) Limited
A registered charge1 property17/06/2019—
outstanding
Punjab National Bank (International)
Punjab National Bank (International) Limited
A registered charge1 property17/06/2019—
outstanding
Punjab National Bank (International)
Punjab National Bank (International) Limited
A registered charge1 property17/06/2019—
satisfied
Lloyds Banking Group
Lloyds Bank PLC
A registered charge1 property21/03/201605/07/2019
satisfied
Lloyds Banking Group
Lloyds Bank PLC
A registered charge1 property18/03/201605/07/2019
satisfied
Garhill
Garhill Limited
A registered charge1 property02/07/201502/09/2019
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (50 total)

gazette-notice-voluntary
gazette · GAZ1(A)
2025-03-11
dissolution-voluntary-strike-off-suspended
dissolution · SOAS(A)
2025-03-06
dissolution-application-strike-off-company
dissolution · DS01
2025-03-04
gazette-notice-compulsory
gazette · GAZ1
2025-03-04
dissolved-compulsory-strike-off-suspended
dissolution · DISS16(SOAS)
2025-03-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-23
accounts-with-accounts-type-micro-entity
accounts · AA
2024-06-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-23
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-09-26
accounts-with-accounts-type-micro-entity
accounts · AA
2023-03-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-24
accounts-with-accounts-type-micro-entity
accounts · AA
2022-03-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-25
accounts-with-accounts-type-micro-entity
accounts · AA
2021-03-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-29