DN CAPITAL (UK) LLP

💤Zombieactive
OC324798 · llp · incorporated 2006-12-12
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
not disclosed
Net worth
book net assets
Opportunity
66/100
Strong
🔔
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Investor take
Pursue
Active trading company. Reasonable fundamentals — worth a memo before deciding.

Opportunity 66/100 (strong), bankability 57/100. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: strategic trade sale (38/100).

🏦

Refinance opportunity

7 live charges · 3 lenders · oldest 18.2y

15/100
under pressure

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

  • · Oldest live charge is 18.2 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (55/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, no SIC, incorporation date
80
Financials
No iXBRL financials extracted
0
Lenders & charges
7 charges (7/7 with lender, 7/7 with type)
90
Directors & officers
33 officers (6 active, 33 linked, 32 with DOB)
89
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
118 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
66/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
74
Few red flags.
Signal strength
90
Good data coverage for analysis.

Recent activity

Last 30 days
1
filing
  • 1 officers
Last 90 days
1
filing
  • 1 officers
Last 180 days
2
filings
  • 1 officers
  • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (93 events)Click to expand
  1. 2026-05-26
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  2. 2026-04-03
    SCHLENKER, Steven Jeffrey resigned
    llp-designated-member
  3. 2025-12-09
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  4. 2025-09-29
    📄
    accounts-with-accounts-type-group
    accounts · AA
  5. 2025-09-16
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  6. 2025-09-16
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  7. 2025-09-12
    KREIK, Sarah resigned
    llp-member
  8. 2025-07-21
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  9. 2025-07-01
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  10. 2025-06-27
    ARESKOUG, Rasmus Joel Edvard resigned
    llp-member
  11. 2025-06-13
    AULBACH, Susann Natalie resigned
    llp-member
  12. 2025-01-14
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  13. 2024-07-01
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  14. 2024-06-28
    HESSABI, Cyrus, Mr. resigned
    llp-member
  15. 2024-06-11
    📄
    accounts-with-accounts-type-group
    accounts · AA
  16. 2024-03-04
    ARESKOUG, Rasmus Joel Edvard appointed
    llp-member
  17. 2024-03-04
    📄
    appoint-person-member-limited-liability-partnership-with-appointment-date
    officers · LLAP01
  18. 2023-12-15
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  19. 2023-10-18
    📄
    accounts-with-accounts-type-group
    accounts · AA
  20. 2023-08-11
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
    mortgage · LLMR01
  21. 2023-08-04
    🔒
    Charge registered #7
    Lender: Hsbc Innovation Bank Limited
  22. 2023-07-10
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  23. 2023-06-30
    MATTILA, Teemu Eemeli resigned
    llp-member
  24. 2023-05-16
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  25. 2023-05-15
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  26. 2023-05-04
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  27. 2023-05-04
    📄
    notification-of-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC01
  28. 2023-05-02
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  29. 2023-02-09
    📄
    appoint-person-member-limited-liability-partnership-with-appointment-date
    officers · LLAP01
  30. 2023-01-25
    KREIK, Sarah appointed
    llp-member
  31. 2022-12-20
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  32. 2022-10-11
    📄
    appoint-person-member-limited-liability-partnership-with-appointment-date
    officers · LLAP01
  33. 2022-10-11
    📄
    appoint-person-member-limited-liability-partnership-with-appointment-date
    officers · LLAP01
  34. 2022-09-22
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  35. 2022-09-01
    HESSABI, Cyrus, Mr. appointed
    llp-member
  36. 2022-08-31
    BABINI, Alessandro resigned
    llp-member
  37. 2022-08-08
    SCHLENKER, Steven Jeffrey appointed
    llp-designated-member
  38. 2021-12-31
    JONGEN, Ragnar resigned
    llp-member
  39. 2021-05-01
    BABINI, Alessandro appointed
    llp-member
  40. 2020-01-20
    AULBACH, Susann Natalie appointed
    llp-member
  41. 2019-09-27
    🔒
    Charge registered #6
    Lender: Silicon Valley Bank
  42. 2019-02-28
    TEHAL, Imran resigned
    llp-member
  43. 2018-12-31
    LEWKOWICZ, Julie resigned
    llp-member
  44. 2018-12-31
    SWERNER, Casey Benjamin resigned
    llp-member
  45. 2018-07-09
    LEWKOWICZ, Julie appointed
    llp-member
  46. 2018-05-31
    SHAH, Kanira resigned
    llp-member
  47. 2018-04-13
    PISARZ, Piotr Michal resigned
    llp-member
  48. 2017-11-01
    TEHAL, Imran appointed
    llp-member
  49. 2017-09-25
    MARSH, Ian James appointed
    llp-member
  50. 2017-09-04
    SWERNER, Casey Benjamin appointed
    llp-member
Showing most recent 50 of 93 events

Owner dependency

50/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

Succession & seller-readiness

40/100
Moderate signal

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

SIGNALS
  • secondaryStable-but-static management: Company is 19 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 med · 1 low
4 director resignations in last 12 months
medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: SCHLENKER, Steven Jeffrey resigned 2026-04-03; ARESKOUG, Rasmus Joel Edvard resigned 2025-06-27; AULBACH, Susann Natalie resigned 2025-06-13

7 live charges
low

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

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Nenad Joseph Marovac
Individual · British · DOB 02/1967 · age 59
50–75%50-75% voting06/04/2016
Mr Steven Jeffrey Schlenker
Individual · American · DOB 07/1968 · age 58
25–50%25-50% voting01/01/2023

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

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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
Typellp
Incorporated2006-12-12
Jurisdictionengland-wales
Primary SIC

Registered office

2 Queen Annes Gate Buildings
Dartmouth Street
London
SW1H 9BP

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-11-22
Last: 2025-11-08

Officers (6 active · 27 resigned)

MAROVAC, Nenad Joseph
llp-designated-member · ~59y · appointed 2006-12-12
View their other companies + combined net worth →
Active
RUBENS, Thomas
llp-designated-member · ~38y · appointed 2014-09-01
View their other companies + combined net worth →
Active
HORTON, Michael John
llp-member · ~62y · appointed 2013-05-07
View their other companies + combined net worth →
Active
MARSH, Ian James
llp-member · ~43y · appointed 2017-09-25
View their other companies + combined net worth →
Active
WARD THOMAS, Guy
llp-member · ~38y · appointed 2015-11-09
View their other companies + combined net worth →
Active
DN CAPITAL LIMITED
corporate-llp-member · appointed 2012-11-05
View their other companies + combined net worth →
Active
SCHLENKER, Steven Jeffrey
llp-designated-member · ~58y · appointed 2022-08-08 · resigned 2026-04-03
Resigned
SCHLENKER, Steven Jeffrey
llp-designated-member · ~58y · appointed 2006-12-12 · resigned 2015-05-04
Resigned
AKRAM, Imran
llp-member · ~46y · appointed 2013-04-01 · resigned 2016-04-06
Resigned
ARESKOUG, Rasmus Joel Edvard
llp-member · ~33y · appointed 2024-03-04 · resigned 2025-06-27
Resigned
AULBACH, Susann Natalie
llp-member · ~40y · appointed 2020-01-20 · resigned 2025-06-13
Resigned
BABINI, Alessandro
llp-member · ~35y · appointed 2021-05-01 · resigned 2022-08-31
Resigned
BARCLAY, Lawrence Norman Carlos
llp-member · ~39y · appointed 2013-08-12 · resigned 2017-01-21
Resigned
BATTEN, Thomas Holt
llp-member · ~47y · appointed 2008-12-01 · resigned 2010-03-31
Resigned
BRADLEY, Daniel Thomas
llp-member · ~51y · appointed 2009-09-01 · resigned 2015-05-31
Resigned
CHEN, Xi
llp-member · ~42y · appointed 2009-03-23 · resigned 2013-03-28
Resigned
HESSABI, Cyrus, Mr.
llp-member · ~30y · appointed 2022-09-01 · resigned 2024-06-28
Resigned
JONGEN, Ragnar
llp-member · ~37y · appointed 2016-10-15 · resigned 2021-12-31
Resigned
KAAN, Mariam
llp-member · ~37y · appointed 2014-09-01 · resigned 2016-05-27
Resigned
KREIK, Sarah
llp-member · ~31y · appointed 2023-01-25 · resigned 2025-09-12
Resigned

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

Mortgages & charges

7
Total charges
7
Outstanding
3
Active lenders
Status:Lender:7 of 7 shown
TypeProperties
outstanding
HSBC
Hsbc Innovation Bank Limited
A registered charge04/08/2023
outstanding
Silicon Valley Bank
A registered charge27/09/2019
outstanding
Silicon Valley Bank
A registered charge30/09/2016
outstanding
Silicon Valley Bank
A registered charge30/09/2016
outstanding
Silicon Valley Bank
A registered charge20/09/2016
outstanding
Silicon Valley Bank
A registered charge04/08/2014
outstanding
Nm Pensions
Nm Pensions Limited
Deposit deed1 property02/04/2008
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (118 total)

termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2026-05-26
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2025-12-09
accounts-with-accounts-type-group
accounts · AA
2025-09-29
change-person-member-limited-liability-partnership-with-name-change-date
officers · LLCH01
2025-09-16
termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2025-09-16
termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2025-07-21
termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2025-07-01
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2025-01-14
termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2024-07-01
accounts-with-accounts-type-group
accounts · AA
2024-06-11
appoint-person-member-limited-liability-partnership-with-appointment-date
officers · LLAP01
2024-03-04
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2023-12-15
accounts-with-accounts-type-group
accounts · AA
2023-10-18
mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
mortgage · LLMR01
2023-08-11
termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2023-07-10