HEXWAR LIMITED

🌳Matureactive
SC228468 · ltd · incorporated 2002-02-25
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to May 2025
Net worth
£100.9k
book net assets
Opportunity
80/100
Exceptional
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What this business does
Primary activity: Ready-made interactive leisure and entertainment software development
Sector: Information & communication
ALSO REGISTERED FOR
  • 62020Information technology consultancy activities
Investor take
Pursue
Asset-holding vehicle with a 69-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (83/100, director aged 69). Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (73/100).

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

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £100,865

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£101k
↑ 238% YoY
Current Assets
£97k
↑ 195% YoY
Current Liabilities
—
£0£20k£40k£61k£81k£101kMay 2024May 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-05-312024-05-31
Total assets£103.9k£31.9k
Current assets£96.9k£32.9k
Net assets£100.9k£29.9k

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
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2026-02-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2025-04-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2024-02-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2024-02-07
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  5. 2024-02-01
    📄
    change-person-director-company-with-change-date
    officers · CH01
  6. 2024-02-01
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2024-02-01
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  8. 2024-02-01
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  9. 2023-07-28
    📄
    change-account-reference-date-company-previous-extended
    accounts · AA01
  10. 2023-07-26
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  11. 2022-12-09
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2021-12-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2020-10-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2019-09-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2018-10-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2017-11-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  17. 2008-02-04
    ➖
    SMITH, Anthony resigned
    director
  18. 2002-06-24
    ➕
    SMITH, Anthony appointed
    director
  19. 2002-02-27
    ➕
    MARTIN-SMITH, Keith Anthony appointed
    director
  20. 2002-02-27
    ➖
    PF & S ( SECRETARIES) LIMITED resigned
    corporate-nominee-secretary
  21. 2002-02-27
    ➖
    PF & S (DIRECTORS) LIMITED resigned
    corporate-nominee-director
  22. 2002-02-25
    🏢
    Company incorporated
    As HEXWAR LIMITED
  23. 2002-02-25
    ➕
    MARTIN SMITH, Carola Christian appointed
    secretary
  24. 2002-02-25
    ➕
    MARTIN SMITH, Carola Christian appointed
    director
  25. 2002-02-25
    ➕
    PF & S ( SECRETARIES) LIMITED appointed
    corporate-nominee-secretary
  26. 2002-02-25
    ➕
    PF & S (DIRECTORS) LIMITED appointed
    corporate-nominee-director

Owner dependency

83/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 69 — succession pressure is live.

Succession & seller-readiness

86/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 69. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 24 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

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Keith Anthony Martin-Smith
Individual · British · DOB 09/1957 · age 69
50–75%
—50-75% shares06/04/2016
Mrs Carola Christian Martin Smith
Individual · Scottish · DOB 10/1964 · age 62
25–50%
—25-50% shares06/04/2016

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
Incorporated2002-02-25
Jurisdictionscotland
Primary SIC62011 — Ready-made interactive leisure and entertainment software development

Registered office

Hubwards 17 Greenside Avenue
Rosemarkie
Fortrose
IV10 8XA
Scotland

Filing status

Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2027-03-11
Last: 2026-02-25

Officers (3 active · 3 resigned)

MARTIN SMITH, Carola Christian→
secretary · appointed 2002-02-25
View their other companies + combined net worth →
Active
MARTIN SMITH, Carola Christian→
director · ~62y · appointed 2002-02-25
View their other companies + combined net worth →
Active
MARTIN-SMITH, Keith Anthony→
director · ~69y · appointed 2002-02-27
View their other companies + combined net worth →
Active
PF & S ( SECRETARIES) LIMITED→
corporate-nominee-secretary · appointed 2002-02-25 · resigned 2002-02-27
Resigned
SMITH, Anthony→
director · ~66y · appointed 2002-06-24 · resigned 2008-02-04
Resigned
PF & S (DIRECTORS) LIMITED→
corporate-nominee-director · appointed 2002-02-25 · resigned 2002-02-27
Resigned

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

Recent filings (71 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-27
accounts-with-accounts-type-micro-entity
accounts · AA
2026-02-17
accounts-with-accounts-type-micro-entity
accounts · AA
2025-04-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-03
accounts-with-accounts-type-micro-entity
accounts · AA
2024-02-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-02-07
change-person-director-company-with-change-date
officers · CH01
2024-02-01
change-person-director-company-with-change-date
officers · CH01
2024-02-01
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-02-01
change-person-secretary-company-with-change-date
officers · CH03
2024-02-01
change-account-reference-date-company-previous-extended
accounts · AA01
2023-07-28
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-07-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-05
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-09