A.J.N. STEELSTOCK LTD.

📉Decliningactive

00689647 · ltd · incorporated 1961-04-13

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

drifting distress · 6-months

Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.

· Lifecycle stage drifting downward
· Currently "declining"

🔒Estimated value

—

Upgrade to see

Turnover

£155.75M

year to Apr 2025

Net worth

—

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: SIC 46720

Sector: Wholesale & retail

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 90). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

10 live charges · 4 lenders · oldest 28.9y

25/100

too messy

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

· Oldest live charge is 28.9 years old — likely at or near maturity.
· 4 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: high (80/100)

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

10 charges (10/10 with lender, 10/10 with type)

Directors & officers

11 officers (9 active, 11 linked, 10 with DOB)

Ownership & PSC

2 active PSC(s) of 3 total, 3 with control declared

Director network

2 connected companies via shared directors

Filing history

142 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒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

80/100Exceptional

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

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 · FRS 102

Loss-making

Loss before tax £677,363

Revenue decline

Turnover down 11% YoY

Slipped into loss

Moved from profit to loss this year

Turnover YoY

-11%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-04-30	2024-04-30
Turnover	£155.75M	£174.62M
Gross profit	£14.46M	£14.43M
Operating profit	£606.1k	£248.6k
Profit before tax	£-677.4k	£237.0k
Average employees	42300	43000

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

filings

• 1 confirmation-statement
• 1 officers

Last 180 days

filings

• 2 officers
• 1 confirmation-statement
• 1 persons-with-significant-control

Counts from Companies House filing history.

Corporate timeline (48 events)Click to expand

2026-05-05
📄
change-person-director-company-with-change-date
officers · CH01
2026-02-26
📄
change-person-director-company-with-change-date
officers · CH01
2026-02-25
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-01-14
📄
accounts-with-accounts-type-full
accounts · AA
2025-01-08
📄
accounts-with-accounts-type-full
accounts · AA
2024-09-06
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-09-06
🔓
Charge satisfied #9
2024-07-30
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-07-22
🔒
Charge registered #10
Lender: Hsbc UK Bank PLC
2023-10-27
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-27
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-04
📄
accounts-with-accounts-type-full
accounts · AA
2022-10-27
📄
accounts-with-accounts-type-full
accounts · AA
2022-09-14
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-09-08
🔒
Charge registered #9
Lender: Hsbc UK Bank PLC
2022-05-10
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-05-01
➕
OLSON, Lee appointed
director
2021-10-07
📄
accounts-with-accounts-type-full
accounts · AA
2021-10-05
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-10-05
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-10-05
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-10-05
🔓
Charge satisfied #6
2021-10-05
🔓
Charge satisfied #2
2021-10-05
🔓
Charge satisfied #1
2021-09-27
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-09-24
🔒
Charge registered #8
Lender: Hsbc Invoice Finance (UK) LTD
2021-09-17
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-09-16
🔒
Charge registered #7
Lender: Hsbc UK Bank PLC
2021-07-19
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-07-19
🔓
Charge satisfied #5
2021-07-19
🔓
Charge satisfied #4
2021-07-19
🔓
Charge satisfied #3
2019-04-30
➖
BOYDEN, Jean Mary resigned
secretary
2018-09-03
🔒
Charge registered #6
Lender: Lloyds Bank PLC
2017-05-01
➕
MCGALL, Clare appointed
director
2017-05-01
➕
NOLAN, Shaun appointed
director
2017-05-01
➕
SAGE, Christopher appointed
director
2015-07-20
🔒
Charge registered #5
Lender: Lloyds Bank PLC
2014-11-26
🔒
Charge registered #4
Lender: Lloyds Bank PLC
2008-02-01
➕
BELL, Courtney appointed
director
2006-07-14
🔒
Charge registered #3
Lender: Lloyds Tsb Bank PLC
2006-04-22
🔒
Charge registered #2
Lender: Lloyds Tsb Bank PLC
2005-10-16
➖
BOYDEN, John resigned
director
1999-08-13
➕
CRESSALL, Neil appointed
director
1997-07-04
🔒
Charge registered #1
Lender: Lloyds Bank PLC
1995-02-28
➕
BOYDEN, Alan John appointed
director
1995-02-28
➕
BOYDEN, Neil Robert appointed
director
1961-04-13
🏢
Company incorporated
As A.J.N. STEELSTOCK LTD.

Owner dependency

73/100

High — earn-out structure required

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

FACTORS

-9 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 31 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 90 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

90/100

Likely off-market candidate

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

SIGNALS

primaryFounder aged 70+: Senior director is approximately 90 years old. Natural succession window is now.
primary20+ year tenure: Director in role 31 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 65 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

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.

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Alan Boyden Individual · British · DOB 12/1965 · age 61	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016
Mr Neil Robert Boyden Individual · British · DOB 07/1970 · age 56	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016

1 historic (ceased) PSC

Mrs Jean Boydenceased 30/04/2019· 25-50% shares · 25-50% voting · board control

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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AURI POTASH (NETHERLAND) LTD→ 14768239 · est 2023 · no financials extracted	—	—	—	—	3y	—	—
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Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

10 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.

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Company details

Statusactive

Typeltd

Incorporated1961-04-13

Jurisdictionengland-wales

Primary SIC46720 — SIC 46720

Registered office

Icknield Way

Kentford

Newmarket

Suffolk

CB8 7QT

Filing status

Accounts

Next due: 2027-01-31

Last made up to: 2025-04-30

Confirmation statement

Next due: 2027-05-09

Last: 2026-04-25