GILLBAC LIMITED

🌳Matureactive

01886673 · ltd · incorporated 1985-02-15

Investment thesis

Property vehicle with leveraged stack — refinance / partial-release angle.

Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.

Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Oct 2025

Net worth

£2.70M

book net assets

Opportunity

78/100

Strong

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What this business does

Primary activity: Agents involved in the sale of a variety of goods

Sector: Wholesale & retail

ALSO REGISTERED FOR

68209Other letting and operating of own or leased real estate

Investor take

Pursue

Asset-holding vehicle. Family succession underway — not a classic acquisition target.

Opportunity 78/100 (strong), bankability 77/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. 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 35.4y

35/100

too messy

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

· Oldest live charge is 35.4 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (77/100)

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

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

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

Directors & officers

7 officers (5 active, 7 linked, 5 with DOB)

Ownership & PSC

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

Director network

Network not yet resolved

Filing history

127 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

78/100Strong

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

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102

Positive net assets

Net assets £2,701,296

Cash YoY

+203%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£1.9m

↑ 203% YoY

Net Worth

£2.7m

↑ 1.2% YoY

Current Assets

£2.5m

↓ 14% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-10-31	2024-10-31
Total assets	£2.81M	£2.78M
Current assets	£2.50M	£2.91M
Cash	£1.86M	£615.2k
Debtors	£634.7k	£2.29M
Net assets	£2.70M	£2.67M

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

Recent activity

Last 30 days

filing

• 1 accounts

Last 90 days

filing

• 1 accounts

Last 180 days

filings

• 1 accounts
• 1 officers
• 1 address

Counts from Companies House filing history.

Corporate timeline (38 events)Click to expand

2026-07-03
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2026-04-11
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2026-04-09
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-07-28
📄
change-person-director-company-with-change-date
officers · CH01
2025-07-14
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-04-11
➕
VAFAEY, Cameron appointed
secretary
2024-06-10
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-04-08
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-04-02
📄
change-person-director-company-with-change-date
officers · CH01
2023-07-31
➕
VAFAEY, Barbac appointed
director
2023-07-31
➕
VAFAEY, Cameron appointed
director
2023-07-31
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-07-31
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-07-13
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-07-30
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-07-27
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-07-20
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-10-21
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2019-10-16
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-10-16
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-10-16
🔓
Charge satisfied #6
2019-10-16
🔓
Charge satisfied #5
2019-07-31
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2017-06-08
➕
VAFAEY, Gillian Mary appointed
director
2017-06-08
➖
VAFAEY, Behrouz resigned
director
2012-09-27
🔒
Charge registered #6
Lender: Lloyds Tsb Bank PLC
2012-09-27
🔒
Charge registered #5
Lender: Lloyds Tsb Bank PLC
2011-08-01
🔓
Charge satisfied #4
2003-09-11
🔒
Charge registered #4
Lender: Vereins Und Westbank Ag
2003-08-28
🔓
Charge satisfied #3
2003-08-28
🔓
Charge satisfied #2
2003-08-28
🔓
Charge satisfied #1
1995-12-05
➖
VAFAEY, Bijan resigned
director
1994-10-06
➕
VAFAEY, Bijan appointed
director
1993-04-02
🔒
Charge registered #3
Lender: Midland Bank PLC
1991-10-01
🔒
Charge registered #2
Lender: Midland Bank PLC
1991-02-11
🔒
Charge registered #1
Lender: Midland Bank PLC
1985-02-15
🏢
Company incorporated
As GILLBAC LIMITED

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

+Founder age: Director aged approximately 66 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

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

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Mrs Gillian Mary Vafaey Individual · British · DOB 10/1960 · age 66	75–100%	—	75-100% shares	01/08/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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Peers ranked by estimated value, then turnover, then opportunity score.See all →

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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.

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Company details

Statusactive

Typeltd

Incorporated1985-02-15

Jurisdictionengland-wales

Primary SIC46190 — Agents involved in the sale of a variety of goods

Registered office

40 Homefield Road

Warlingham

CR6 9HQ

England

Filing status

Accounts

Next due: 2027-07-31

Last made up to: 2025-10-31

Confirmation statement

Next due: 2026-08-17

Last: 2025-08-03