FLATFISH LIMITED

🌳Matureactive

01409431 · ltd · incorporated 1979-01-16

Investment thesis

Well-run mature business — low negotiation leverage; premium likely.

Why interesting: Textbook target; clean filings, stable trading.

Why risky: No pressure on seller; any deal likely at full price.

Opportunity decay

hardening · 12-months

Already tight — no obvious softening catalysts on the horizon.

· Thesis: well-run, low negotiation leverage

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

75/100

Strong

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What this business does

Primary activity: SIC 10200

Sector: Manufacturing

ALSO REGISTERED FOR

46380Wholesale of other food, including fish, crustaceans and molluscs

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 75/100 (strong), bankability 57/100. Strong seller-intent signal (63/100, director aged 68). Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

6 live charges · 3 lenders · oldest 24.8y

35/100

too messy

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

· Oldest live charge is 24.8 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 40/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (58/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile

address, 2 SIC codes, incorporation date

100

Financials

No iXBRL financials extracted

Lenders & charges

6 charges (6/6 with lender, 6/6 with type)

Directors & officers

20 officers (7 active, 20 linked, 17 with DOB)

Ownership & PSC

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

Director network

3 connected companies via shared directors

Filing history

173 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

75/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Some moderate concerns — review flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

Last 90 days

filings

Last 180 days

filings

Counts from Companies House filing history.

Corporate timeline (58 events)Click to expand

2025-11-13
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2025-11-11
📄
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2025-11-11
📄
resolution
resolution · RESOLUTIONS
2025-11-11
📄
legacy
capital · SH20
2025-11-11
⚠️
legacy
insolvency · CAP-SS
2025-11-05
📄
capital-variation-of-rights-attached-to-shares
capital · SH10
2025-11-05
📄
capital-name-of-class-of-shares
capital · SH08
2025-11-05
📄
resolution
resolution · RESOLUTIONS
2025-11-03
📄
capital-allotment-shares
capital · SH01
2025-10-31
📄
memorandum-articles
incorporation · MA
2025-10-29
📄
statement-of-companys-objects
change-of-constitution · CC04
2025-09-17
📄
accounts-with-accounts-type-full
accounts · AA
2025-05-21
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-05-14
➖
ASAI, Masahide resigned
director
2024-12-10
📄
accounts-with-accounts-type-full
accounts · AA
2023-09-27
📄
accounts-with-accounts-type-full
accounts · AA
2023-07-20
➖
IEHARA, Tomoteru resigned
director
2023-07-20
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-03-15
📄
change-person-director-company-with-change-date
officers · CH01
2022-11-10
📄
change-person-director-company-with-change-date
officers · CH01
2022-11-10
📄
change-person-director-company-with-change-date
officers · CH01
2022-11-10
📄
change-person-director-company-with-change-date
officers · CH01
2022-09-20
📄
accounts-with-accounts-type-full
accounts · AA
2022-08-05
➕
SATO, Naoto appointed
director
2022-08-05
➕
ASAI, Masahide appointed
director
2022-08-05
➕
IEHARA, Tomoteru appointed
director
2022-08-05
➖
SAKAI, Hisami resigned
director
2022-08-05
➖
YOKOI, Ken resigned
director
2021-11-17
➕
CARR, Catherine Ann appointed
secretary
2021-10-29
➖
VESSEY, Nicholas John resigned
secretary
2021-05-31
➖
WILLIAMS, Peter Joseph resigned
director
2020-09-04
➖
STANSFIELD, Steven David resigned
secretary
2020-09-04
➕
VESSEY, Nicholas John appointed
secretary
2019-04-30
➕
GALLOU, Daniel appointed
director
2019-04-30
➕
KURAISHI, Terutaka appointed
director
2019-04-30
➖
CLARKE, Nigel Colin resigned
director
2019-04-30
➕
SAKAI, Hisami appointed
director
2019-04-30
➖
STOKES, Peter resigned
director
2019-04-30
➕
WILLIAMS, Peter Joseph appointed
director
2019-04-30
➕
YOKOI, Ken appointed
director
2015-04-01
🔒
Charge registered #6
Lender: National Westminster Bank PLC
2014-01-30
➕
STANSFIELD, Reece James appointed
director
2012-08-24
➖
ROSE, Edwin Jonathan resigned
director
2012-07-27
🔒
Charge registered #5
Lender: Rbs Invoice Finance Limited
2012-03-26
➕
ROSE, Edwin Jonathan appointed
director
2010-01-28
➖
STANSFIELD, Jennie resigned
director
2007-11-27
🔓
Charge satisfied #3
2007-05-14
🔒
Charge registered #4
Lender: National Westminster Bank PLC
2004-05-01
➕
STOKES, Peter appointed
director
2002-05-29
🔓
Charge satisfied #1

Showing most recent 50 of 58 events

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

-6 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 29 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 68 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

80/100

Likely off-market candidate

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 68. Approaching typical UK retirement age — succession thinking likely.
primary20+ year tenure: Director in role 29 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 48 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 high · 1 med ·

1 insolvency-related filing on record

high

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

Evidence: 2025-11-11: legacy

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

Nissui Europe B.V. is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Nissui Europe B.V.

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

FLATFISH LIMITED

This company · 01409431

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
Nissui Europe B.V. Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	30/04/2019

1 historic (ceased) PSC

Mr Steven David Stansfieldceased 30/04/2019· 75-100% shares · 75-100% 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 →

Similar companies

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ARUNDEL KERR PRODUCE LIMITED→ 03873206 · est 1999 · no financials extracted	—	—	—	—	26y	—	—
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DIRECT SOURCING MANUFACTURING LTD→ 12497219 · est 2020 · no financials extracted	—	—	—	—	6y	—	—
DUE SORELLE LIMITED→ 12140863 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
ET VOILA LIMITED→ 13576316 · est 2021 · no financials extracted	—	—	—	—	4y	—	—
EXCITING FOODS LIMITED→ 03723109 · est 1999 · no financials extracted	—	—	—	—	27y	—	—
FANCY A SLICE LIMITED→ 15842034 · est 2024 · no financials extracted	—	—	—	—	1y	—	—
FAVOUR POINT GROUP LIMITED→ 16463101 · est 2025 · no financials extracted	—	—	—	—	—	—	—
FILLET FISH LIMITED→ 05373818 · est 2005 · no financials extracted	—	—	—	—	21y	—	—
FOUR TWENTEA LTD→ 12075667 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
FRASER SEAFOOD TRADING LIMITED→ 11875898 · est 2019 · no financials extracted	—	—	—	—	7y	—	—
G CANDY LTD→ 14799942 · est 2023 · no financials extracted	—	—	—	—	3y	—	—

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.

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🔒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

Incorporated1979-01-16

Jurisdictionengland-wales

Primary SIC10200 — SIC 10200

Registered office

Unit 5 Stirling Street

Grimsby

North East Lincolnshire

DN31 3AE

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-11-24

Last: 2025-11-10