BACKLIST LIMITED

🌳Matureactive
02105427 · ltd · incorporated 1987-03-03
Investment thesis
Property vehicle with a workable charge structure — clean refinance potential.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Dependent on title and valuation due diligence; standard property risks.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 26.9y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Apr 2025
Net worth
—
book net assets
Opportunity
79/100
Strong
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What this business does
Primary activity: SIC 46760
Sector: Wholesale & retail
ALSO REGISTERED FOR
  • 68209Other letting and operating of own or leased real estate
Investor take
Pursue
Active trading company with a 74-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 80/100. Strong seller-intent signal (68/100, director aged 74). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 26.9y

65/100
clean up first

Refinance viable after a tidy-up — address the highlighted items first.

  • · Oldest live charge is 26.9 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · 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
75
Lenders & charges
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 2 with DOB)
80
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
113 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
70
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Apr 2024Apr 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · IFRS
Metric2025-04-302024-04-30
Average employees100100

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
0
filings
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (21 events)Click to expand
  1. 2026-01-16
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2025-09-29
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  3. 2025-09-24
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2025-01-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2024-01-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2023-04-24
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2023-04-17
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2022-02-09
    ➕
    HEDIN, Sarah Joy appointed
    director
  9. 2022-02-09
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2022-01-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2021-04-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2020-01-10
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2019-01-24
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2018-01-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2017-01-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2015-12-11
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  17. 2009-09-22
    ➖
    FRICKER, Jeremy David Shapland resigned
    secretary
  18. 2001-07-10
    ➕
    FRICKER, Jeremy David Shapland appointed
    secretary
  19. 2001-07-10
    ➖
    GAMMON, Andrew Duncan resigned
    secretary
  20. 1999-07-12
    🔒
    Charge registered #1
    Lender: National Westminster Bank PLC
  21. 1987-03-03
    🏢
    Company incorporated
    As BACKLIST LIMITED

Owner dependency

81/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder age: Director aged approximately 74 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

76/100
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 74 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondaryStable-but-static management: Company is 39 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr James Matthew Hedin
Individual · British · DOB 03/1952 · age 74
50–75%
50–75%board control50-75% shares · 50-75% voting · board control29/11/2016
Mrs Sarah Joy Hedin
Individual · British · DOB 05/1959 · age 67
25–50%
25–50%25-50% shares · 25-50% voting25/09/2025

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 →
🔒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
Incorporated1987-03-03
Jurisdictionengland-wales
Primary SIC46760 — SIC 46760

Registered office

The Office Middle Farm
Charlton Horethorne
Sherborne
Dorset
DT9 4NL
England

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2026-12-13
Last: 2025-11-29

Officers (2 active · 2 resigned)

HEDIN, James Matthew→
director · ~74y
View their other companies + combined net worth →
Active
HEDIN, Sarah Joy→
director · ~67y · appointed 2022-02-09
View their other companies + combined net worth →
Active
FRICKER, Jeremy David Shapland→
secretary · appointed 2001-07-10 · resigned 2009-09-22
Resigned
GAMMON, Andrew Duncan→
secretary · resigned 2001-07-10
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
National Westminster Bank
National Westminster Bank PLC
Legal mortgage1 property12/07/1999—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (113 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-19
accounts-with-accounts-type-micro-entity
accounts · AA
2026-01-16
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-09-29
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-09-24
accounts-with-accounts-type-micro-entity
accounts · AA
2025-01-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-02
accounts-with-accounts-type-micro-entity
accounts · AA
2024-01-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-29
accounts-with-accounts-type-micro-entity
accounts · AA
2023-04-24
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-04-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-09
appoint-person-director-company-with-name-date
officers · AP01
2022-02-09
accounts-with-accounts-type-micro-entity
accounts · AA
2022-01-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-30
accounts-with-accounts-type-micro-entity
accounts · AA
2021-04-14