AIRSPRUNG GROUP PLC

⚰️Wound downadministration

01277785 · plc · incorporated 1976-09-17

Investment thesis

Company administration — not a live target.

Why interesting: Historical record only; useful for precedent research.

Why risky: Not transactable.

Why now

Window opening · high confidence

More negotiable than before — 5 signals weakening over the last 30 days.

· Lifecycle stage: mature → wound-down
· Company status: active → administration
· Opportunity score: 70 → 43
· Bankability: 47 → 22

Opportunity decay

softening · 6-months

Softening — cumulative signals suggest this becomes more negotiable over the next 3–6 months.

· 5 recent signals weakening vs 0 strengthening

What changed my view

Last 30 days

Picture worsened over the last 30 days — 5 negative signals vs 0 positive.

↓Lifecycle stage: mature → wound-down
·Company status: active → administration
↓Deal-killer verdict: complicated → not-transactable
↓Opportunity score: 70 → 43
↓Bankability: 47 → 22
+1 more

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

—

not disclosed

Net worth

—

book net assets

Opportunity

43/100

Watch

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

What this business does

Primary activity: Activities of head offices

Sector: Professional, scientific & technical

Investor take

Pass (distressed without resilience)

Distressed low-transparency controlled group — structural issues outweigh the discount.

Opportunity 43/100 (watch), bankability 22/100. Strong seller-intent signal (60/100, director aged 82). Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: asset disposal / carve-out (90/100). Current lenders should be on immediate intervention.

🏦

Refinance opportunity

4 live charges · 4 lenders · oldest 42.8y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 42.8 years old — likely at or near maturity.
· 4 lenders named — inter-creditor friction likely.
· Legal-friction score 60/100 (high).

Data confidence

Overall: medium (61/100)

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

No iXBRL financials extracted

Lenders & charges

4 charges (4/4 with lender, 4/4 with type)

Directors & officers

25 officers (5 active, 25 linked, 23 with DOB)

Ownership & PSC

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

Director network

24 connected companies via shared directors

Filing history

228 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

43/100Watch

PassWatchWorth a lookStrongExceptional

Not actionable now, but monitor — distressed, succession, or structural changes could flip this into a real opportunity.

Business quality

Concerning — overdue filings or status flags present.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Multiple red flags — proceed with caution.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

• 2 insolvency

Last 90 days

filings

• 3 insolvency
• 1 address

Last 180 days

filings

• 3 insolvency
• 2 gazette
• 1 address

Counts from Companies House filing history.

Corporate timeline (61 events)Click to expand

2026-07-03
⚠️
liquidation-in-administration-proposals
insolvency · AM03
2026-06-20
⚠️
liquidation-in-administration-statement-of-affairs-with-form-attached
insolvency · AM02
2026-05-12
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-05-12
⚠️
liquidation-in-administration-appointment-of-administrator
insolvency · AM01
2026-03-12
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2026-03-07
📄
gazette-filings-brought-up-to-date
gazette · DISS40
2026-03-03
📄
gazette-notice-compulsory
gazette · GAZ1
2024-10-11
📄
accounts-with-accounts-type-group
accounts · AA
2023-10-17
📄
accounts-with-accounts-type-group
accounts · AA
2023-04-05
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-04-05
🔓
Charge satisfied #3
2023-03-27
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-01-06
📄
accounts-with-accounts-type-group
accounts · AA
2022-02-28
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2021-12-14
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2021-12-14
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-11-25
📄
accounts-with-accounts-type-group
accounts · AA
2021-01-04
📄
accounts-with-accounts-type-group
accounts · AA
2019-10-10
📄
accounts-with-accounts-type-group
accounts · AA
2017-05-26
➖
LYONS, Stuart Randolph resigned
director
2011-12-31
➕
PERLOFF, Andrew Stewart appointed
director
2011-12-31
➕
PETERS, Simon Jeffrey appointed
director
2011-12-31
➖
NEWMAN, John resigned
director
2011-12-31
➖
YATES, Stephen Graham Warriner, Mr. resigned
director
2011-03-09
🔓
Charge satisfied #2
2010-12-17
🔒
Charge registered #4
Lender: Svenska Handelsbanken Ab (Publ)
2007-11-28
🔒
Charge registered #3
Lender: Bank of Scotland PLC
2006-12-21
🔒
Charge registered #2
Lender: National Westminster Bank PLC
2006-09-14
➖
CHAMBERS, Antony Craven resigned
director
2005-09-07
➖
BRADSHAW, Philip Gabriel resigned
director
2005-09-07
➕
LYONS, Stuart Randolph appointed
director
2005-07-07
➖
LAMB, Paul Ronald resigned
director
2005-07-07
➖
YATES, Jeremy Patrick resigned
director
2004-04-01
➕
DALLAWAY, Tean Elizabeth appointed
director
2004-03-31
➖
ALSOP, Andrew John Rose resigned
director
2003-12-17
➕
LAMB, Paul Ronald appointed
director
2003-11-06
➕
NEWMAN, John appointed
director
2003-02-28
➖
HARRINGTON, Stephen Thomas resigned
director
2002-07-31
➖
HOWE, David Patrick Leonard resigned
director
2002-04-29
➕
LISANTI, Antonio appointed
director
2001-08-31
➖
ZIEMNIAK, Peter Richard resigned
director
2001-02-19
➖
CARTER, Michael James Frederick resigned
director
2000-07-13
➕
YATES, Jeremy Patrick appointed
director
2000-02-04
➖
ANDERSON, John Spence resigned
director
1999-07-18
➕
CHAMBERS, Antony Craven appointed
director
1999-07-15
➖
COPPEL, Michael Leonard resigned
director
1999-07-15
➖
YATES, John Graham Warriner resigned
director
1998-12-01
➕
ANDERSON, John Spence appointed
director
1997-08-20
➖
PIERCE, John Edward resigned
director
1997-04-01
➕
HARRINGTON, Stephen Thomas appointed
director

Showing most recent 50 of 61 events

Owner dependency

65/100

High — earn-out structure required

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

FACTORS

-4 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 82 — succession pressure is live.

Succession & seller-readiness

85/100

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 82 years old. Natural succession window is now.
primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 50 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

3 high · 1 med ·

Accounts overdue

high

Statutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.

Evidence: Next due: 2025-12-31

Company status: administration

high

Company is in a formal insolvency or administration process. Treat accordingly.

3 insolvency-related filings on record

high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2026-07-03: liquidation-in-administration-proposals; 2026-06-20: liquidation-in-administration-statement-of-affairs-with-form-attached

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

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

🏛️

Portnard Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

AIRSPRUNG GROUP PLC

This company · 01277785

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
Portnard Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	14/12/2021

2 historic (ceased) PSCs

Mr Antonio Lisanticeased 27/03/2023· significant influence
Mr Andrew Stewart Perloffceased 14/12/2021· 50-75% shares

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

12 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

Statusadministration

Typeplc

Incorporated1976-09-17

Jurisdictionengland-wales

Primary SIC70100 — Activities of head offices

Registered office

Pricewaterhousecoopersllp 8th Floor, Central Sqaure

29 Wellington Street

Leeds

West Yorkshire

LS1 4DL

Filing status

Accounts

Next due: 2025-12-31OVERDUE

Last made up to: 2024-03-31

Confirmation statement

Next due: 2027-03-14

Last: 2026-02-28