ADDINGTON (FORMWORK) LIMITED
🌳Matureactive
01444265 · ltd · incorporated 1979-08-16
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.
🔒Estimated value
—
Upgrade to see
Turnover
£14.02M
year to Aug 2024
Net worth
—
book net assets
Opportunity
80/100
Exceptional
What this business does
Primary activity: Other specialised construction activities n.e.c.
Sector: Construction
Investor take
PursueConservative operator with a 83-year-old founder — textbook succession opportunity.
Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (73/100, director aged 83). 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: strategic trade sale (78/100).
🏦
Refinance opportunity
6 live charges · 4 lenders · oldest 37.6y
45/100
clean up first
Refinance viable after a tidy-up — address the highlighted items first.
- · Oldest live charge is 37.6 years old — likely at or near maturity.
- · 4 lenders named — inter-creditor friction likely.
- · Legal-friction score 25/100 — workable, but lender will want more DD.
- · Profitable and stable/growing — lender coverage supportable.
Data confidence
Overall: medium (75/100)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
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
6 officers (5 active, 6 linked, 5 with DOB)
87
Ownership & PSC
2 active PSC(s) of 4 total, 4 with control declared
90
Director network
12 connected companies via shared directors
81
Filing history
123 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
80/100Exceptional
PassWatchWorth a lookStrongExceptional
Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Profitable
Profit before tax £40,634
Key financials
1 year extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2024-08-31 |
|---|---|
| Turnover | £14.02M |
| Gross profit | £1.94M |
| Operating profit | £37.7k |
| Profit before tax | £40.6k |
| Average employees | 1800 |
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
0
filings
Last 90 days
1
filing
- • 1 accounts
Last 180 days
7
filings
- • 3 persons-with-significant-control
- • 2 capital
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
- 2026-06-05📄accounts-with-accounts-type-fullaccounts · AA
- 2026-03-22📄capital-alter-shares-subdivisioncapital · SH02
- 2026-03-05📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2026-03-05📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2026-03-05📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2026-02-24📄capital-alter-shares-subdivisioncapital · SH02
- 2025-11-21📄resolutionresolution · RESOLUTIONS
- 2025-11-20📄capital-alter-shares-subdivisioncapital · SH02
- 2025-05-27📄accounts-with-accounts-type-fullaccounts · AA
- 2024-05-23📄accounts-with-accounts-type-fullaccounts · AA
- 2023-06-13📄change-person-director-company-with-change-dateofficers · CH01
- 2023-06-13📄change-person-director-company-with-change-dateofficers · CH01
- 2023-06-13📄change-person-director-company-with-change-dateofficers · CH01
- 2023-05-30📄accounts-with-accounts-type-fullaccounts · AA
- 2022-07-29📄change-person-director-company-with-change-dateofficers · CH01
- 2022-05-26📄accounts-with-accounts-type-fullaccounts · AA
- 2021-11-09📄change-person-director-company-with-change-dateofficers · CH01
- 2021-11-09📄change-person-director-company-with-change-dateofficers · CH01
- 2021-06-09📄accounts-with-accounts-type-fullaccounts · AA
- 2019-08-14🔓Charge satisfied #5
- 2019-08-14🔓Charge satisfied #4
- 2019-08-14🔓Charge satisfied #3
- 2015-02-24➖HARRIES, James Stanley resigneddirector
- 2015-02-13➕CORCORAN, Sean Robert appointeddirector
- 2014-08-07🔒Charge registered #6Lender: Santander UK PLC
- 2007-12-20➕CORCORAN, Noel Michael appointeddirector
- 2005-06-09🔒Charge registered #5Lender: The Governor and Company of the Bank of Ireland
- 2003-06-27🔒Charge registered #4Lender: The Governor and Company of the Bank of Ireland
- 1995-08-12🔓Charge satisfied #2
- 1995-08-12🔓Charge satisfied #1
- 1995-07-03🔒Charge registered #3Lender: The Governor & the Company of the Bank of Ireland
- 1989-10-30🔒Charge registered #2Lender: Allied Irish Banks PLC
- 1988-12-12🔒Charge registered #1Lender: Allied Irish Banks PLC
- 1979-08-16🏢Company incorporatedAs ADDINGTON (FORMWORK) LIMITED
Owner dependency
73/100
High — earn-out structure requiredMaterial 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 19 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 83 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
83/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 83 years old. Natural succession window is now.
- secondary12+ year tenure: Director in role 19 years.
- secondaryStable-but-static management: Company is 47 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
mediumMultiple 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. Michael Noel Corcoran Individual · Irish · DOB 12/1943 · age 83 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control · trust interest | 31/10/2025 |
Mrs. Nora Bernadette Corcoran Individual · Irish · DOB 02/1944 · age 82 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control · trust interest | 31/10/2025 |
2 historic (ceased) PSCs
- Addington Group Limitedceased 31/10/2025· 75-100% shares
- Mr. Michael Noel Corcoranceased 01/06/2018· 25-50% 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 →Similar companies
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|---|---|---|---|---|---|---|---|
| A&D FLOORING LTD→ 13318800 · est 2021 · no financials extracted | — | — | — | — | 5y | — | — |
| A&D’S LIMITED&CO LIMITED→ 16292464 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| A&E TITANS LTD→ 16722828 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACM CONTRACTOR LTD→ 15461719 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| ACOLRE LIMITED→ 10575538 · est 2017 · no financials extracted | — | — | — | — | 9y | — | — |
| ACRE 850 LIMITED→ 05030352 · est 2004 · no financials extracted | — | — | — | — | 22y | — | — |
| ACTON LANE DEVELOPMENT LTD→ 16663167 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACV CONSTRUCTION LIMITED→ 10086621 · est 2016 · no financials extracted | — | — | — | — | 10y | — | — |
| AD BM UK LTD→ 12426777 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
| ADAM ESTATES LIMITED→ 02921101 · est 1994 · no financials extracted | — | — | — | — | 32y | — | — |
| ADAMSON ESTATES LIMITED→ 03047462 · est 1995 · no financials extracted | — | — | — | — | 30y | — | — |
| ADC RAIL LIMITED→ 11704783 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
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
Incorporated1979-08-16
Jurisdictionengland-wales
Primary SIC43999 — Other specialised construction activities n.e.c.
Registered office
40 Chamberlayne Road
London
NW10 3JE
England
Filing status
Accounts
Next due: 2027-05-31
Last made up to: 2025-08-31
Confirmation statement
Next due: 2027-03-23
Last: 2026-03-09
Officers (5 active · 1 resigned)
Active
Active
CORCORAN, Noel Michael→
Activedirector · ~56y · appointed 2007-12-20
View their other companies + combined net worth →
Active
CORCORAN, Sean Robert→
Activedirector · ~47y · appointed 2015-02-13
View their other companies + combined net worth →
HARRIES, James Stanley→
Resigneddirector · ~81y · resigned 2015-02-24
Click a director name to see their full track record across all companies.
Mortgages & charges
6
Total charges
1
Outstanding
1
Active lenders
Status:Lender:6 of 6 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Santander Santander UK PLC | A registered charge | — | 07/08/2014 | — | |
| satisfied | The Governor and Company of the Bank of Ireland | Charge on deposit | 1 property | 09/06/2005 | 14/08/2019 | |
| satisfied | The Governor and Company of the Bank of Ireland | Charge on deposit | 1 property | 27/06/2003 | 14/08/2019 | |
| satisfied | The Governor & the Company of the Bank of Ireland | Debenture | 1 property | 03/07/1995 | 14/08/2019 | |
| satisfied | Allied Irish Banks Allied Irish Banks PLC | Mortgage debenture | 1 property | 30/10/1989 | 12/08/1995 | |
| satisfied | Allied Irish Banks Allied Irish Banks PLC | Mortgage debenture | 1 property | 12/12/1988 | 12/08/1995 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (123 total)
accounts-with-accounts-type-full
accounts · AA
2026-06-05
capital-alter-shares-subdivision
capital · SH02
2026-03-22
confirmation-statement-with-updates
confirmation-statement · CS01
2026-03-11
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2026-03-05
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-03-05
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2026-03-05
capital-alter-shares-subdivision
capital · SH02
2026-02-24
resolution
resolution · RESOLUTIONS
2025-11-21
capital-alter-shares-subdivision
capital · SH02
2025-11-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-12
accounts-with-accounts-type-full
accounts · AA
2025-05-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-10
accounts-with-accounts-type-full
accounts · AA
2024-05-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-06-14
change-person-director-company-with-change-date
officers · CH01
2023-06-13