NORTHERN RACING LTD

🌳Matureactive
00203365 · ltd · incorporated 1925-01-26
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.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
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 Dec 2024
Net worth
—
book net assets
Opportunity
75/100
Strong
🔔
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What this business does
Primary activity: Operation of sports facilities
Sector: Arts, entertainment & recreation
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 75/100 (strong), bankability 62/100. 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. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (50/100).

🏦

Refinance opportunity

9 live charges · 7 lenders · oldest 41.1y

25/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 41.1 years old — likely at or near maturity.
  • · 7 lenders named — inter-creditor friction likely.
  • · Legal-friction score 40/100 — workable, but lender will want more DD.
  • · Not currently profitable — coverage conversation is a harder sell.

Data confidence

Overall: medium (76/100)

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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
9 charges (9/9 with lender, 9/9 with type)
90
Directors & officers
36 officers (3 active, 36 linked, 29 with DOB)
86
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
20 connected companies via shared directors
90
Filing history
237 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
65
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Loss-making
Loss before tax £15

Key financials

1 year extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-12-31
Operating profit£-15
Profit before tax£-15
Average employees0

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
1
filing
  • • 1 confirmation-statement
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 mortgage
Counts from Companies House filing history.
Corporate timeline (94 events)Click to expand
  1. 2026-04-01
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  2. 2026-03-31
    🔒
    Charge registered #9
    Lender: Horserace Betting Levy Board
  3. 2025-12-12
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  4. 2025-12-12
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  5. 2025-11-21
    ➕
    HUNT, Bradley David appointed
    director
  6. 2025-11-21
    ➖
    SPINCER, Mark resigned
    director
  7. 2025-10-07
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2025-09-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  9. 2024-10-11
    📄
    accounts-with-accounts-type-full
    accounts · AA
  10. 2023-10-12
    📄
    accounts-with-accounts-type-full
    accounts · AA
  11. 2022-12-22
    📄
    accounts-with-accounts-type-full
    accounts · AA
  12. 2022-03-23
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  13. 2022-02-28
    ➖
    ROBERTSON, Kevin Stuart resigned
    director
  14. 2022-01-18
    📄
    accounts-with-accounts-type-full
    accounts · AA
  15. 2021-04-26
    📄
    change-person-director-company-with-change-date
    officers · CH01
  16. 2020-12-20
    📄
    accounts-with-accounts-type-full
    accounts · AA
  17. 2020-01-02
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  18. 2019-10-09
    📄
    accounts-with-accounts-type-full
    accounts · AA
  19. 2019-01-16
    ➖
    SAWYER, Eileen Marie resigned
    director
  20. 2019-01-16
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  21. 2019-01-15
    ➕
    SAWYER, Eileen Marie appointed
    director
  22. 2019-01-15
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  23. 2018-10-04
    ➖
    O'DRISCOLL, Patrick Colin resigned
    director
  24. 2018-10-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  25. 2018-05-10
    🔓
    Charge satisfied #8
  26. 2018-05-10
    🔓
    Charge satisfied #7
  27. 2017-07-06
    ➕
    SPINCER, Mark appointed
    director
  28. 2015-07-23
    ➖
    KELLY, Anthony Brian resigned
    director
  29. 2014-06-30
    ➕
    ROBERTSON, Kevin Stuart appointed
    director
  30. 2013-05-21
    ➖
    HOWARD OF LYMPNE, Michael, Rt Hon resigned
    director
  31. 2012-08-31
    ➖
    RENTON, Robert Ian resigned
    director
  32. 2012-05-30
    ➕
    RENTON, Robert Ian appointed
    director
  33. 2012-04-23
    ➕
    HILL, Megan Joy appointed
    secretary
  34. 2012-04-23
    ➖
    KELLY, Anthony Brian resigned
    secretary
  35. 2008-06-30
    ➖
    STREET, Rodney Grant resigned
    director
  36. 2008-01-23
    ➕
    HOWARD OF LYMPNE, Michael, Rt Hon appointed
    director
  37. 2007-08-31
    🔓
    Charge satisfied #6
  38. 2007-08-31
    🔓
    Charge satisfied #5
  39. 2007-08-20
    🔒
    Charge registered #8
    Lender: The Governor and Company of the Bank of Scotland (The Security Trustee)
  40. 2007-08-20
    🔒
    Charge registered #7
    Lender: The Governor and Company of the Bank of Scotland as Security Trustee for the Secured Parties(The Security Trustee)
  41. 2007-08-01
    ➕
    NAHUM, Stephane Abraham Joseph appointed
    director
  42. 2007-08-01
    ➕
    O'DRISCOLL, Patrick Colin appointed
    director
  43. 2007-06-22
    ➖
    CLARKE, Simon William resigned
    director
  44. 2007-06-22
    ➖
    GERARD PEARSE, Jane Louise resigned
    director
  45. 2007-06-22
    ➖
    GLOSSOP, Charles Compton Anthony resigned
    director
  46. 2007-06-22
    ➖
    JONES, Stephen Rhys resigned
    director
  47. 2007-06-22
    ➖
    STOW, Graham Harold resigned
    director
  48. 2007-06-22
    ➖
    TWAMLEY, Paul James resigned
    director
  49. 2006-01-05
    ➖
    POTTINGER, Piers Julian Dominic resigned
    director
  50. 2004-09-19
    ➖
    CLARKE, Stanley William, Sir resigned
    director
Showing most recent 50 of 94 events

Owner dependency

68/100
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 19 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

49/100
Moderate signal

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

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 19 years.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

Nr Acquisitions Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Nr Acquisitions Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
NORTHERN RACING LTD
This company · 00203365

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%
NameSharesVoting rightsNature of controlNotified
Nr Acquisitions Limited
Corporate entity
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
Incorporated1925-01-26
Jurisdictionengland-wales
Primary SIC93110 — Operation of sports facilities

Registered office

4th Floor Millbank Tower
21-24 Millbank
London
England
SW1P 4QP
England

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-06-21
Last: 2026-06-07

Officers (3 active · 33 resigned)

HILL, Megan Joy→
secretary · appointed 2012-04-23
View their other companies + combined net worth →
Active
HUNT, Bradley David→
director · ~53y · appointed 2025-11-21
View their other companies + combined net worth →
Active
NAHUM, Stephane Abraham Joseph→
director · ~51y · appointed 2007-08-01
View their other companies + combined net worth →
Active
BRAMBELL, John Andrew Patrick→
secretary · appointed 1998-06-24 · resigned 1999-02-28
Resigned
FRANCIS, George Carwardine→
secretary · resigned 1998-06-24
Resigned
HORLESTON, Peter George→
secretary · appointed 1999-03-09 · resigned 2001-04-30
Resigned
JONES, Stephen Rhys→
secretary · appointed 2001-04-30 · resigned 2003-10-13
Resigned
KELLY, Anthony Brian→
secretary · appointed 2004-08-19 · resigned 2012-04-23
Resigned
STOKES, Mark Bryan→
secretary · appointed 2003-10-13 · resigned 2004-09-03
Resigned
ABRAHAMS, Michael David→
director · ~89y · resigned 1991-08-01
Resigned
CLARKE, Simon William→
director · ~61y · appointed 2003-10-13 · resigned 2007-06-22
Resigned
CLARKE, Stanley William, Sir→
director · ~93y · appointed 1999-07-09 · resigned 2004-09-19
Resigned
CLAY, Glynne Herbert Charles→
director · ~95y · resigned 2000-04-13
Resigned
DEER, Daniel John→
director · ~88y · appointed 1997-10-01 · resigned 2003-10-13
Resigned
FRANCIS, George Carwardine→
director · ~97y · resigned 1999-12-31
Resigned
GERARD PEARSE, Jane Louise→
director · ~63y · appointed 2003-10-13 · resigned 2007-06-22
Resigned
GLOSSOP, Charles Compton Anthony→
director · ~85y · appointed 2003-10-13 · resigned 2007-06-22
Resigned
GRODZINSKI, Peter Gregory→
director · ~79y · appointed 2000-11-01 · resigned 2003-10-13
Resigned
HOWARD OF LYMPNE, Michael, Rt Hon→
director · ~85y · appointed 2008-01-23 · resigned 2013-05-21
Resigned
JONES, Stephen Rhys→
director · ~66y · resigned 2007-06-22
Resigned

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

Mortgages & charges

9
Total charges
2
Outstanding
1
Active lenders
Status:Lender:9 of 9 shown
TypeProperties
outstanding
Horserace Betting Levy Board
A registered charge1 property31/03/2026—
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland (The Security Trustee)
Legal charge1 property20/08/200710/05/2018
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland as Security Trustee for the Secured Parties(The Security Trustee)
Debenture1 property20/08/200710/05/2018
satisfied
Aib Group (UK) P.L.C.
Mortgage debenture1 property19/12/200331/08/2007
satisfied
Aib Group (UK) P.L.C.
Legal mortgage2 properties19/12/200331/08/2007
outstanding
Horserace Betting Levy Board
Security document in relation to chepstow racecourse1 property27/12/2001—
satisfied
Homerace Betting Levy Board
Legal charge1 property17/11/198925/05/2000
satisfied
Midshires Building Society.
Further charge1 property14/06/198508/03/1994
satisfied
Midshires Building Society
Legal charge1 property13/06/198508/03/1994
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (237 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-06-08
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-04-01
termination-director-company-with-name-termination-date
officers · TM01
2025-12-12
appoint-person-director-company-with-name-date
officers · AP01
2025-12-12
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-10-07
accounts-with-accounts-type-full
accounts · AA
2025-09-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-09
accounts-with-accounts-type-full
accounts · AA
2024-10-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-07
accounts-with-accounts-type-full
accounts · AA
2023-10-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-06-07
accounts-with-accounts-type-full
accounts · AA
2022-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-07
termination-director-company-with-name-termination-date
officers · TM01
2022-03-23
accounts-with-accounts-type-full
accounts · AA
2022-01-18