ADDISON HOMES LTD
💤Zombieactive
SC645633 · ltd · incorporated 2019-10-29
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.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
What changed my view
Last 30 days
No material changes in the last 30 days.
Last 90 days
No snapshot from 90 days ago — start tracking from today.
Last 180 days
No snapshot from 180 days ago — start tracking from today.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£72.4k
book net assets
Opportunity
69/100
Strong
What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
ALSO REGISTERED FOR
- 68209Other letting and operating of own or leased real estate
Investor take
PursueProperty-backed borrower. Reasonable fundamentals — worth a memo before deciding.
Opportunity 69/100 (strong), bankability 57/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 6 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
18 live charges · 6 lenders · oldest 3.8y
5/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Charge age ~3.8 years — mid-life; refi window approaching.
- · 6 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: high (80/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
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
18 charges (18/18 with lender, 18/18 with type)
90
Directors & officers
1 officers (1 active, 1 linked, 1 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
37 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
69/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
55
Adequate — check latest filings for context.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
66
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Positive net assets
Net assets £72,356
Cash draining
Cash down 88% YoY
Cash YoY
-88%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£313
↓ 88% YoY
Net Worth
£72k
↑ 1766% YoY
Current Assets
£4k
↓ 31% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £754.2k | £413.3k |
| Current assets | £3.7k | £5.4k |
| Cash | £313 | £2.6k |
| Debtors | £3.4k | £2.8k |
| Net assets | £72.4k | £3.9k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
2 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
0
filings
Last 90 days
0
filings
Last 180 days
3
filings
- • 2 mortgage
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (44 events)Click to expand
- 2026-02-20📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-02-19🔒Charge registered #18Lender: Paragon Bank PLC
- 2026-01-26📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-22🔒Charge registered #17Lender: Paragon Bank PLC
- 2025-12-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-08-26📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-08-05🔒Charge registered #16Lender: Paragon Bank PLC
- 2025-05-20📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-05-16🔒Charge registered #15Lender: Aldermore Bank PLC
- 2024-12-19📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-11-19📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-11-18🔒Charge registered #14Lender: Jonathan Hargreaves Norrie
- 2024-11-13📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-11-11🔒Charge registered #13Lender: Paragon Bank PLC
- 2024-10-11📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-10-11🔓Charge satisfied #9
- 2024-09-04📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-09-04🔓Charge satisfied #7
- 2024-06-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-06-06🔒Charge registered #12Lender: Paragon Bank PLC
- 2024-04-19📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-04-16🔒Charge registered #11Lender: Paragon Bank PLC
- 2024-03-15📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-03-07🔒Charge registered #10Lender: Paragon Bank PLC
- 2024-02-09📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-02-09📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-02-09📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-02-09🔒Charge registered #8Lender: Together Commercial Finance Limited
- 2024-02-09🔒Charge registered #7Lender: Together Commercial Finance Limited
- 2024-01-25🔒Charge registered #9Lender: Together Commercial Finance Limited
- 2023-11-22📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-11-20🔒Charge registered #6Lender: Lendinvest Btl Limited
- 2023-07-06📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-07-06📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-07-06📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-07-05🔒Charge registered #5Lender: Tsb Bank PLC
- 2023-07-05🔒Charge registered #4Lender: Tsb Bank PLC
- 2023-07-05🔒Charge registered #3Lender: Tsb Bank PLC
- 2023-06-26📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-06-23🔒Charge registered #2Lender: Tsb Bank PLC
- 2023-05-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-08-04🔒Charge registered #1Lender: Lendinvest Btl Limited
- 2019-10-29🏢Company incorporatedAs ADDISON HOMES LTD
- 2019-10-29➕ADDISON, Derek Joseph appointeddirector
Owner dependency
100/100
Critical — business is the founderThe business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
FACTORS
- +Sole director: Only one active director — all governance concentrated on one person.
- +Founder name in company name: Company name contains director surname "ADDISON" — strong identity link between founder and business.
- +Senior director age: Director aged approximately 58 — approaching natural succession window.
- +No director turnover: Company is 7 years old with no director changes — suggests a very tight-knit founder team never broadened.
Succession & seller-readiness
55/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 58. Early succession window.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
2 med · 1 low3 new charges in last 12 months
mediumHeavy recent charge activity can indicate refinancing pressure, aggressive leverage, or multiple lender rotation.
Evidence: 2026-02-19: A registered charge; 2026-01-22: A registered charge; 2025-08-05: A registered charge
Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
16 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Derek Joseph Addison Individual · British · DOB 11/1968 · age 58 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 29/10/2019 |
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 · Property · EH postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| LANDWARD SECURITIES (EDINBURGH) LIMITED→ SC052040 · est 1972 | £3.62M £3.07M–£4.16M | — | £3.62M | — | 53y | 83 | 62y |
| TEAM SCOTLAND LTD.→ SC282486 · est 2005 | £1.97M £1.67M–£2.26M | — | £1.97M | — | 21y | 83 | 63y |
| GATEWAY GLASGOW LTD→ SC219530 · est 2001 | £1.34M £1.14M–£1.54M | — | £1.34M | — | 25y | 83 | 64y |
| PAMABER PROPERTIES LIMITED→ SC147392 · est 1993 | £1.21M £1.03M–£1.39M | — | £1.21M | — | 32y | 83 | 78y |
| LYNE PROPERTIES (EDINBURGH) LIMITED→ SC028226 · est 1951 | £1.12M £947.9k–£1.28M | — | £1.12M | — | 75y | 83 | 85y |
| SANTOSHI ENTERPRISE LIMITED→ SC251221 · est 2003 | £669.9k £569.4k–£770.4k | — | £669.9k | — | 22y | 83 | 64y |
| FACTOTUM (SCOTLAND) LIMITED→ SC246244 · est 2003 | £338.5k £287.7k–£389.2k | — | £338.5k | — | 23y | 83 | 74y |
| THE OLD SAWMILL LIMITED→ SC299306 · est 2006 | £28.1k £23.9k–£32.3k | — | £28.1k | — | 20y | 83 | 63y |
| REDS RELAX ENJOY DEVELOP LIMITED→ SC293103 · est 2005 | £12.3k £10.4k–£14.1k | — | £12.3k | — | 20y | 83 | 60y |
| CODEBASE LTD→ SC437306 · est 2012 | — | £11.72M | — | 9600 | 13y | 84 | 60y |
| CLOCKWORK PROPERTIES LIMITED→ SC197325 · est 1999 | — | £400.3k | — | 200 | 26y | 83 | 55y |
| JEDDERFIELD INVESTMENTS LIMITED→ SC502005 · est 2015 | — | £19.5k | — | 0 | 11y | 83 | 69y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
9 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
Incorporated2019-10-29
Jurisdictionscotland
Primary SIC68100 — Buying and selling of own real estate
Registered office
C/O Property Accounts Limited
27 Lauriston Street
Edinburgh
EH3 9DQ
Scotland
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-09-01
Last: 2025-08-18
Officers (1 active · 0 resigned)
ADDISON, Derek Joseph→
Activedirector · ~58y · appointed 2019-10-29
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Mortgages & charges
18
Total charges
16
Outstanding
6
Active lenders
Status:Lender:18 of 18 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Paragon Paragon Bank PLC | A registered charge | 2 properties | 19/02/2026 | — | |
| outstanding | Paragon Paragon Bank PLC | A registered charge | 2 properties | 22/01/2026 | — | |
| outstanding | Paragon Paragon Bank PLC | A registered charge | 2 properties | 05/08/2025 | — | |
| outstanding | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 16/05/2025 | — | |
| outstanding | Jonathan Hargreaves Norrie | A registered charge | 1 property | 18/11/2024 | — | |
| outstanding | Paragon Paragon Bank PLC | A registered charge | 1 property | 11/11/2024 | — | |
| outstanding | Paragon Paragon Bank PLC | A registered charge | 2 properties | 06/06/2024 | — | |
| outstanding | Paragon Paragon Bank PLC | A registered charge | 2 properties | 16/04/2024 | — | |
| outstanding | Paragon Paragon Bank PLC | A registered charge | 2 properties | 07/03/2024 | — | |
| outstanding | Together Money Together Commercial Finance Limited | A registered charge | 1 property | 09/02/2024 | — | |
| satisfied | Together Money Together Commercial Finance Limited | A registered charge | 1 property | 09/02/2024 | 04/09/2024 | |
| satisfied | Together Money Together Commercial Finance Limited | A registered charge | — | 25/01/2024 | 11/10/2024 | |
| outstanding | LendInvest Lendinvest Btl Limited | A registered charge | 2 properties | 20/11/2023 | — | |
| outstanding | Lloyds Banking Group Tsb Bank PLC | A registered charge | 1 property | 05/07/2023 | — | |
| outstanding | Lloyds Banking Group Tsb Bank PLC | A registered charge | 1 property | 05/07/2023 | — | |
| outstanding | Lloyds Banking Group Tsb Bank PLC | A registered charge | 1 property | 05/07/2023 | — | |
| outstanding | Lloyds Banking Group Tsb Bank PLC | A registered charge | — | 23/06/2023 | — | |
| outstanding | LendInvest Lendinvest Btl Limited | A registered charge | 1 property | 04/08/2022 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (37 total)
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-02-20
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-01
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-08-26
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-05-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-19
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-11-19
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-11-13
mortgage-satisfy-charge-full
mortgage · MR04
2024-10-11
mortgage-satisfy-charge-full
mortgage · MR04
2024-09-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-08-22
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-06-21
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-04-19
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-03-15