SPHERE RESEARCH LTD

🏛️Establishedactive

SC552214 · ltd · incorporated 2016-12-08

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 4.6y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Dec 2024

Net worth

£-1.17M

book net assets

Opportunity

78/100

Strong

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: Business and domestic software development

Sector: Information & communication

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 78/100 (strong), bankability 75/100. Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (73/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 4.6y

60/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Charge age ~4.6 years — mid-life; refi window approaching.
· Two lenders — manageable, but coordination required.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: high (83/100)

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

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

8 officers (5 active, 8 linked, 5 with DOB)

Ownership & PSC

1 active PSC(s) of 2 total, 2 with control declared

Director network

14 connected companies via shared directors

Filing history

70 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

78/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Negative net assets

Liabilities exceed assets by £1,167,683

Net assets shrinking

Down £2,179,813 YoY

Cash YoY

-8%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£261k

↓ 8.0% YoY

Net Worth

-£1.2m

↓ 215% YoY

Current Assets

£520k

~ YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-12-31	2023-12-31
Total assets	£1.62M	£1.01M
Current assets	£519.6k	£517.5k
Cash	£260.5k	£283.3k
Debtors	£259.1k	£234.1k
Net assets	£-1.17M	£1.01M

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

3 signals 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

filings

Last 90 days

filing

• 1 officers

Last 180 days

filings

• 1 officers
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (34 events)Click to expand

2026-04-23
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-03-26
➖
TREADWAY, Olly resigned
director
2025-05-08
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-16
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-12
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-03
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-04-03
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-01-12
📄
capital-allotment-shares
capital · SH01
2023-01-06
📄
capital-allotment-shares
capital · SH01
2022-12-19
📄
memorandum-articles
incorporation · MA
2022-12-19
📄
resolution
resolution · RESOLUTIONS
2022-12-14
📄
capital-allotment-shares
capital · SH01
2022-12-13
📄
capital-allotment-shares
capital · SH01
2022-11-04
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-10-26
🔒
Charge registered #2
Lender: Sigma Software Llc
2022-05-20
📄
capital-allotment-shares
capital · SH01
2022-03-29
📄
appoint-corporate-director-company-with-name-date
officers · AP02
2022-03-29
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-03-23
➕
BOLIVAR ROJAS, Alvaro Leonardo appointed
director
2022-03-01
📄
capital-allotment-shares
capital · SH01
2022-02-02
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-01-06
📄
capital-allotment-shares
capital · SH01
2021-12-16
📄
capital-allotment-shares
capital · SH01
2021-10-25
🔒
Charge registered #1
Lender: Keith Miller
2021-09-30
➕
MILLER, Keith appointed
director
2021-09-30
➕
DA SECRETARIAL LIMITED appointed
corporate-director
2020-10-16
➕
DA SECRETARIAL LIMITED appointed
corporate-secretary
2020-10-16
➖
RAPOZO, Wayne James resigned
secretary
2019-08-23
➕
RAPOZO, Wayne James appointed
secretary
2019-08-22
➕
CAZALET, David Benedict appointed
director
2019-08-21
➖
MACKENZIE, Euan Richard Happer resigned
director
2018-10-23
➕
MACKENZIE, Euan Richard Happer appointed
director
2016-12-08
🏢
Company incorporated
As SPHERE RESEARCH LTD
2016-12-08
➕
TREADWAY, Olly appointed
director

Owner dependency

55/100

Moderate — manageable with handover

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

FACTORS

-4 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 69 — succession pressure is live.

Succession & seller-readiness

50/100

Moderate signal

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 69. Approaching typical UK retirement age — succession thinking likely.

Red flags

clean

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

Group structure

Sphere Research Holdings Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Sphere Research Holdings Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

SPHERE RESEARCH LTD

This company · SC552214

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Sphere Research Holdings Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	31/03/2023

1 historic (ceased) PSC

Mr Olly Treadwayceased 31/03/2023· 25-50% shares · 25-50% voting

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 →

Similar companies

Active · Technology · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
SEEBYTE LIMITED→ SC194014 · est 1999	£6.84M £4.88M–£8.79M	£10.82M	—	8800	27y	92	61y
CANONGATE BOOKS LIMITED→ SC152259 · est 1994	£6.02M £4.30M–£7.74M	—	—	64	31y	85	65y
EXTRAORDINARY MANAGED SERVICES LIMITED→ SC214448 · est 2001 · no financials extracted	—	—	—	—	25y	83	58y
INFOGISTICS LIMITED→ SC208321 · est 2000	—	—	—	700	25y	83	60y
INTELLIGENT MOBILE LIMITED→ SC266060 · est 2004	—	—	—	—	22y	83	66y
MICROSYS SOLUTIONS LIMITED→ SC185715 · est 1998	—	—	£140.2k	—	28y	83	59y
NDI TECHNOLOGIES LTD.→ SC173002 · est 1997 · no financials extracted	—	—	—	—	29y	83	93y
NETWORK ROI LTD→ SC299422 · est 2006	—	—	£161.9k	—	20y	83	71y
NILE HQ LTD→ SC306908 · est 2006	—	—	—	40	19y	83	63y
NW SECURITY GROUP LIMITED→ SC177283 · est 1997	—	—	£742.8k	—	28y	83	69y
OCCUPANCY MARKETING LIMITED→ SC360835 · est 2009	—	—	£2.10M	—	16y	83	60y
OPTIMISE HOLDINGS LIMITED→ SC291827 · est 2005	—	—	—	300	20y	83	63y

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

Incorporated2016-12-08

Jurisdictionscotland

Primary SIC62012 — Business and domestic software development

Registered office

C/O Factotum

63 Dublin Street

Edinburgh

EH3 6NS

Scotland

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-12-21

Last: 2025-12-07