F. SMITH & CO. (OFFICE EQUIPMENT) LIMITED
- · Thesis: well-run, low negotiation leverage
Opportunity 72/100 (strong), bankability 77/100. 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 (58/100).
Refinance opportunity
5 live charges · 3 lenders · oldest 36.0y
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 36.0 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Legal-friction score 30/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (76/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Key financials
1 year extracted from filed iXBRL accountsFinancials
Extracted from Companies House accounts · FRS 102| Metric | 2024-10-31 |
|---|---|
| Average employees | 0 |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
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
- • 1 accounts
- • 1 accounts
- • 1 accounts
Corporate timeline (70 events)Click to expand
- 2026-07-04📄accounts-with-accounts-type-dormantaccounts · AA
- 2025-03-19📄accounts-with-accounts-type-dormantaccounts · AA
- 2024-04-22📄accounts-with-accounts-type-dormantaccounts · AA
- 2024-03-01📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-02-29➖MARUGGI, Aurelio resigneddirector
- 2024-01-26📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-01-25➕CLARK, James Alexander appointeddirector
- 2023-03-13📄accounts-with-accounts-type-dormantaccounts · AA
- 2022-05-23📄appoint-person-director-company-with-name-dateofficers · AP01
- 2022-05-23📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-05-20➕JACKSON, Samantha Loraine appointeddirector
- 2022-05-20➖CLARK, James Alexander resigneddirector
- 2022-04-07📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-06-02📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-02-18📄memorandum-articlesincorporation · MA
- 2020-12-17📄resolutionresolution · RESOLUTIONS
- 2020-06-24📄appoint-person-director-company-with-name-dateofficers · AP01
- 2020-06-24📄termination-director-company-with-name-termination-dateofficers · TM01
- 2020-06-18➕MARUGGI, Aurelio appointeddirector
- 2020-06-17➖STANTON-GLEAVES, Robin James resigneddirector
- 2020-06-17📄accounts-with-accounts-type-dormantaccounts · AA
- 2019-07-25📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-06-10📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2019-05-28➖PIERPOINT, Alan resignedsecretary
- 2019-05-03📄appoint-person-director-company-with-name-dateofficers · AP01
- 2019-05-01➕STANTON-GLEAVES, Robin James appointeddirector
- 2019-04-25➖COLLINS, Jason Patrick resigneddirector
- 2019-03-15➖RANDALL, Martin Keith resigneddirector
- 2018-11-01➕CLARK, James Alexander appointeddirector
- 2016-09-30🔓Charge satisfied #5
- 2016-09-30🔓Charge satisfied #4
- 2016-09-02➖FERDINAND, Barry Trevor resigneddirector
- 2016-03-31🔒Charge registered #5Lender: Barclays Bank PLC as Security Agent
- 2015-09-08🔓Charge satisfied #3
- 2015-09-08🔓Charge satisfied #2
- 2015-08-19🔒Charge registered #4Lender: Barclays Bank PLC as Security Agent
- 2013-04-04➕RANDALL, Martin Keith appointeddirector
- 2007-05-24➖COLLINS, Jason Patrick resignedsecretary
- 2007-05-24➕PIERPOINT, Alan appointedsecretary
- 2006-12-31➖TURNER, Philip resigneddirector
- 2006-01-31➖BALDWIN, Roger Andrew resigneddirector
- 2006-01-31➖MEAR, Donald Robert resigneddirector
- 2005-10-06➕COLLINS, Jason Patrick appointedsecretary
- 2005-10-06➖MEAR, Donald Robert resignedsecretary
- 2005-10-06➖BUCKETT, Bruce Thomas resigneddirector
- 2005-10-06➕COLLINS, Jason Patrick appointeddirector
- 2005-10-06➖DOLBY, Alexander William resigneddirector
- 2005-10-06➕FERDINAND, Barry Trevor appointeddirector
- 2005-10-06➖SMITH, Peter Norman resigneddirector
- 1995-04-19➖BRIGHTWELL, Clifford resignedsecretary
Owner dependency
Some founder dependency, but not acute. A structured handover period should cover most risk.
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
Succession & seller-readiness
Limited succession signal. Not a near-term off-market candidate.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
1 med ·Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Apogee Corporation Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
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 |
|---|---|---|---|---|
Apogee Corporation Limited Corporate entity | 75–100% | 75–100% | board controlsig. influence75-100% shares · 75-100% voting · board control · significant influence | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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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6 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 →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
Registered office
Filing status
Officers (2 active · 23 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Barclays Barclays Bank PLC as Security Agent | A registered charge | — | 31/03/2016 | 30/09/2016 | |
| satisfied | Barclays Barclays Bank PLC as Security Agent | A registered charge | — | 19/08/2015 | 30/09/2016 | |
| satisfied | Barclays Barclays Bank PLC | Guarantee and debenture | 1 property | 10/01/1994 | 08/09/2015 | |
| satisfied | Barclays Barclays Bank PLC | Debenture | 1 property | 22/08/1991 | 08/09/2015 | |
| satisfied | Midland Bank Midland Bank PLC | Fixed and floating | 1 property | 05/07/1990 | 06/09/1994 |