ADENSTONE LIMITED

💤Zombieactive
SC190812 · ltd · incorporated 1998-11-04
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 Nov 2024
Net worth
£282.5k
book net assets
Opportunity
75/100
Strong
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What this business does
Primary activity: SIC 47799
Sector: Wholesale & retail
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

Opportunity 75/100 (strong), bankability 85/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

1 live charge · oldest 26.8y

45/100
under pressure

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

  • · Oldest live charge is 26.8 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (79/100)

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

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
6 officers (1 active, 6 linked, 4 with DOB)
83
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
73 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 105 (micro)
Positive net assets
Net assets £282,483

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£282k
↑ 32% YoY
Current Assets
£412k
↓ 3.3% YoY
Current Liabilities
—
£0£85k£170k£255k£340k£426kNov 2023Nov 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)
Metric2024-11-302023-11-30
Total assets£286.0k£241.1k
Current assets£411.5k£425.5k
Cash—£34.9k
Net assets£282.5k£214.5k

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
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (29 events)Click to expand
  1. 2025-08-26
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-08-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-11-09
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2023-08-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-08-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-08-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2020-08-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2020-03-16
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  9. 2019-08-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2018-08-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2017-11-06
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  12. 2017-11-06
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  13. 2017-05-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2017-02-28
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  15. 2017-02-24
    ➖
    SARDAR, Moriel Mor resigned
    director
  16. 2016-07-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  17. 2014-12-01
    ➕
    SARDAR, Moriel Mor appointed
    director
  18. 2014-10-01
    ➕
    SARDAR, Shahid appointed
    director
  19. 2014-10-01
    ➖
    MCROBB, Dorothy Helen Ross resigned
    secretary
  20. 2014-10-01
    ➖
    MCROBB, Brian James resigned
    director
  21. 2010-10-01
    🔓
    Charge satisfied #1
  22. 1999-06-16
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  23. 1998-11-24
    ➕
    MCROBB, Dorothy Helen Ross appointed
    secretary
  24. 1998-11-24
    ➖
    REID, Brian resigned
    nominee-secretary
  25. 1998-11-24
    ➖
    MABBOTT, Stephen resigned
    nominee-director
  26. 1998-11-24
    ➕
    MCROBB, Brian James appointed
    director
  27. 1998-11-04
    🏢
    Company incorporated
    As ADENSTONE LIMITED
  28. 1998-11-04
    ➕
    REID, Brian appointed
    nominee-secretary
  29. 1998-11-04
    ➕
    MABBOTT, Stephen appointed
    nominee-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

60/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondaryStable-but-static management: Company is 27 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Shahid Sardar
Individual · British · DOB 02/1980 · age 46
75–100%
75–100%board control75-100% shares · 75-100% voting · board control06/04/2016

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

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
Incorporated1998-11-04
Jurisdictionscotland
Primary SIC47799 — SIC 47799

Registered office

Cash Converters, 14/16 Whitehall Crescent
Dundee
DD1 4AU
Scotland

Filing status

Accounts
Next due: 2026-08-31
Last made up to: 2024-11-30
Confirmation statement
Next due: 2026-11-18
Last: 2025-11-04

Officers (1 active · 5 resigned)

SARDAR, Shahid→
director · ~46y · appointed 2014-10-01
View their other companies + combined net worth →
Active
MCROBB, Dorothy Helen Ross→
secretary · appointed 1998-11-24 · resigned 2014-10-01
Resigned
REID, Brian→
nominee-secretary · appointed 1998-11-04 · resigned 1998-11-24
Resigned
MABBOTT, Stephen→
nominee-director · ~76y · appointed 1998-11-04 · resigned 1998-11-24
Resigned
MCROBB, Brian James→
director · ~73y · appointed 1998-11-24 · resigned 2014-10-01
Resigned
SARDAR, Moriel Mor→
director · ~39y · appointed 2014-12-01 · resigned 2017-02-24
Resigned

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

Mortgages & charges

1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property16/06/199901/10/2010

Recent filings (73 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-06
accounts-with-accounts-type-micro-entity
accounts · AA
2025-08-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-11-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-08-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-09
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-11-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-11-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-08-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-08-31
confirmation-statement-with-updates
confirmation-statement · CS01
2020-11-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-08-19
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2020-03-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-11-13