FORWARD ASSET FINANCE LIMITED

🌳Matureactive
SC337979 · ltd · incorporated 2008-02-18
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
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 10.6y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
83/100
Exceptional
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What this business does
Primary activity: Financial intermediation not elsewhere classified
Sector: Financial & insurance
Investor take
Pursue
Active trading company with a 64-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 64). Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (73/100).

🏦

Refinance opportunity

1 live charge · oldest 10.6y

85/100
ready

Refinance conversation should be productive — structure clean and timing right.

  • · Oldest live charge is 10.6 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Legal-friction score 15/100 — clean.

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
4 officers (3 active, 4 linked, 3 with DOB)
85
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
62 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
Opportunity Score
83/100Exceptional
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
85
Strong succession / seller-readiness signals.
Risk profile
85
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£0Mar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Average employees500400

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
1
filing
  • • 1 confirmation-statement
Last 180 days
3
filings
  • • 2 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
  1. 2025-12-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-09-23
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  3. 2025-09-23
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2024-12-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2023-12-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-12-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-12-17
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  9. 2021-12-17
    📄
    change-person-director-company-with-change-date
    officers · CH01
  10. 2021-10-18
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  11. 2021-05-20
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  12. 2021-01-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2020-01-10
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  14. 2019-12-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2019-11-11
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  16. 2019-11-11
    📄
    change-person-director-company-with-change-date
    officers · CH01
  17. 2019-01-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2015-10-23
    🔒
    Charge registered #1
    Lender: Forward Sales Ecosse Limited
  19. 2011-05-26
    ➖
    MCKAY, Stuart resigned
    director
  20. 2008-02-18
    🏢
    Company incorporated
    As FORWARD ASSET FINANCE LIMITED
  21. 2008-02-18
    ➕
    SARANNA, Lashman appointed
    secretary
  22. 2008-02-18
    ➕
    HOWAT, David appointed
    director
  23. 2008-02-18
    ➕
    SARANNA, Lashman appointed
    director
  24. 2008-02-18
    ➕
    MCKAY, Stuart appointed
    director

Owner dependency

76/100
High — earn-out structure required

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

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 18 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

79/100
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 64. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 18 years.
  • secondaryStable-but-static management: Company is 18 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 David Howat
Individual · British · DOB 05/1966 · age 60
50–75%
50–75%50-75% shares · 50-75% voting06/04/2016
Mr Lashman Saranna
Individual · British · DOB 09/1962 · age 64
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

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

6 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
Incorporated2008-02-18
Jurisdictionscotland
Primary SIC64999 — Financial intermediation not elsewhere classified

Registered office

100 Carnegie Road
Hillington Park
Glasgow
G52 4JZ
Scotland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-25
Last: 2026-03-11

Officers (3 active · 1 resigned)

SARANNA, Lashman→
secretary · appointed 2008-02-18
View their other companies + combined net worth →
Active
HOWAT, David→
director · ~60y · appointed 2008-02-18
View their other companies + combined net worth →
Active
SARANNA, Lashman→
director · ~64y · appointed 2008-02-18
View their other companies + combined net worth →
Active
MCKAY, Stuart→
director · ~66y · appointed 2008-02-18 · resigned 2011-05-26
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
Forward Sales Ecosse
Forward Sales Ecosse Limited
A registered charge—23/10/2015—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (62 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-03-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-12-30
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-09-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-09-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-12-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-12-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2021-12-17
change-person-director-company-with-change-date
officers · CH01
2021-12-17