ADAPT EMS LTD

💤Zombieactive
01973147 · ltd · incorporated 1985-12-20
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2025
Net worth
£2.45M
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: SIC 27320
Sector: Manufacturing
Investor take
Pursue
Active trading company with a 64-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 67/100. Strong seller-intent signal (70/100, director aged 64). 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 (73/100).

🏦

Refinance opportunity

4 live charges · 4 lenders · oldest 20.3y

15/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 20.3 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

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
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
11 officers (1 active, 11 linked, 6 with DOB)
81
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
117 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
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 · accounting standard not declared
Positive net assets
Net assets £2,447,614

Key financials

2 years extracted from filed iXBRL accounts
Cash
£879k
Net Worth
£2.4m
Current Assets
£4.9m
Current Liabilities
—
£0£983k£2.0m£2.9m£3.9m£4.9mJun 2024Jun 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-06-302024-06-30
Total assets£3.36M—
Current assets£4.91M—
Cash£878.7k—
Debtors£2.06M—
Net assets£2.45M—
Average employees—7000

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

🔒Filing-note intelligence

1 signal 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
4
filings
  • • 2 officers
  • • 1 accounts
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (38 events)Click to expand
  1. 2026-03-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2026-02-04
    📄
    change-person-director-company-with-change-date
    officers · CH01
  3. 2026-02-03
    📄
    change-person-director-company-with-change-date
    officers · CH01
  4. 2025-12-03
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  5. 2025-12-03
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  6. 2025-03-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2024-03-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2023-03-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  9. 2022-03-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2020-10-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  11. 2020-04-20
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  12. 2018-10-10
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  13. 2018-01-19
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  14. 2016-11-17
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2012-12-30
    ➖
    JANNEY, Guy Robert resigned
    secretary
  16. 2012-05-25
    🔒
    Charge registered #4
    Lender: Lloyds Tsb Bank PLC
  17. 2012-02-21
    🔓
    Charge satisfied #2
  18. 2012-02-21
    🔓
    Charge satisfied #1
  19. 2011-07-01
    ➖
    CHICK, Andrew Martin resigned
    secretary
  20. 2011-07-01
    ➕
    JANNEY, Guy Robert appointed
    secretary
  21. 2011-07-01
    ➖
    CHICK, Andrew Martin resigned
    director
  22. 2010-10-01
    🔒
    Charge registered #3
    Lender: Rbs Invoice Finance Limited
  23. 2009-05-22
    🔒
    Charge registered #2
    Lender: Xcess Electronics Limited (In Administration)
  24. 2006-02-28
    🔒
    Charge registered #1
    Lender: Close Invoice Finance Limited
  25. 2006-02-17
    ➕
    JANNEY, Guy Robert appointed
    director
  26. 2006-02-17
    ➖
    CHAPPELL, Lorraine resigned
    secretary
  27. 2006-02-17
    ➕
    CHICK, Andrew Martin appointed
    secretary
  28. 2006-02-17
    ➖
    BOWMAN, Geoffrey George resigned
    director
  29. 2006-02-17
    ➖
    CADWALLEN, Michael resigned
    director
  30. 2006-02-17
    ➕
    CHICK, Andrew Martin appointed
    director
  31. 2002-07-01
    ➕
    CADWALLEN, Michael appointed
    director
  32. 2002-04-06
    ➖
    BOWMAN, Geoffrey George resigned
    secretary
  33. 2000-05-01
    ➕
    CHAPPELL, Lorraine appointed
    secretary
  34. 1999-12-31
    ➖
    SMITH, Andrew James resigned
    director
  35. 1997-12-26
    ➕
    BOWMAN, Geoffrey George appointed
    secretary
  36. 1997-12-26
    ➖
    BOWMAN, Violet Rosemary resigned
    secretary
  37. 1997-12-26
    ➖
    BOWMAN, Violet Rosemary resigned
    director
  38. 1985-12-20
    🏢
    Company incorporated
    As ADAPT EMS LTD

Owner dependency

93/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Long-tenure founder: Senior director has been in place 20 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

95/100
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 64. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 20 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 41 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.

Group structure

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

🏛️
Incatronix Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
ADAPT EMS LTD
This company · 01973147

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%
NameSharesVoting rightsNature of controlNotified
Incatronix Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control30/06/2025
1 historic (ceased) PSC
  • Extol Manufacturing Limitedceased 30/06/2025· 75-100% shares · 75-100% voting

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

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
Incorporated1985-12-20
Jurisdictionengland-wales
Primary SIC27320 — SIC 27320

Registered office

27-29 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

Filing status

Accounts
Next due: 2027-03-31
Last made up to: 2025-06-30
Confirmation statement
Next due: 2027-02-16
Last: 2026-02-02

Officers (1 active · 10 resigned)

JANNEY, Guy Robert→
director · ~64y · appointed 2006-02-17
View their other companies + combined net worth →
Active
BOWMAN, Geoffrey George→
secretary · appointed 1997-12-26 · resigned 2002-04-06
Resigned
BOWMAN, Violet Rosemary→
secretary · resigned 1997-12-26
Resigned
CHAPPELL, Lorraine→
secretary · appointed 2000-05-01 · resigned 2006-02-17
Resigned
CHICK, Andrew Martin→
secretary · appointed 2006-02-17 · resigned 2011-07-01
Resigned
JANNEY, Guy Robert→
secretary · appointed 2011-07-01 · resigned 2012-12-30
Resigned
BOWMAN, Geoffrey George→
director · ~83y · resigned 2006-02-17
Resigned
BOWMAN, Violet Rosemary→
director · ~80y · resigned 1997-12-26
Resigned
CADWALLEN, Michael→
director · ~72y · appointed 2002-07-01 · resigned 2006-02-17
Resigned
CHICK, Andrew Martin→
director · ~64y · appointed 2006-02-17 · resigned 2011-07-01
Resigned
SMITH, Andrew James→
director · ~64y · resigned 1999-12-31
Resigned

Click a director name to see their full track record across all companies.

Mortgages & charges

4
Total charges
2
Outstanding
2
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Lloyds Banking Group
Lloyds Tsb Bank PLC
Debenture1 property25/05/2012—
outstanding
NatWest Group
Rbs Invoice Finance Limited
All assets debenture1 property01/10/2010—
satisfied
Xcess Electronics (In Administration)
Xcess Electronics Limited (In Administration)
Chattels mortgage1 property22/05/200921/02/2012
satisfied
Close Invoice Finance / Close Invoice Finance
Close Invoice Finance Limited / Close Invoice Finance Limited
Debenture1 property28/02/200621/02/2012
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (117 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-31
change-person-director-company-with-change-date
officers · CH01
2026-02-04
confirmation-statement-with-updates
confirmation-statement · CS01
2026-02-04
change-person-director-company-with-change-date
officers · CH01
2026-02-03
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2025-12-03
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-12-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-03-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-09
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-03-30
confirmation-statement-with-updates
confirmation-statement · CS01
2023-02-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-03-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-04