THORNSETT GROUP LIMITED
💤Zombieactive
02420753 · ltd · incorporated 1989-09-07
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
—
not disclosed
Net worth
—
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: Activities of head offices
Sector: Professional, scientific & technical
Investor take
PursueActive trading company with a 67-year-old founder — textbook succession opportunity.
Opportunity 73/100 (strong), bankability 57/100. Strong seller-intent signal (83/100, director aged 67). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 12 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
15 live charges · 12 lenders · oldest 18.6y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 18.6 years old — likely at or near maturity.
- · 12 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (60/100)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
No iXBRL financials extracted
0
Lenders & charges
15 charges (15/15 with lender, 15/15 with type)
90
Directors & officers
5 officers (2 active, 5 linked, 4 with DOB)
86
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
151 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
60
Adequate — check latest filings for context.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
66
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (50 events)Click to expand
- 2026-01-04📄accounts-with-accounts-type-groupaccounts · AA
- 2025-12-08➖CUNNINGHAM, Sinead Louise resigneddirector
- 2025-12-08📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-01-24📄change-account-reference-date-company-previous-extendedaccounts · AA01
- 2025-01-13📄resolutionresolution · RESOLUTIONS
- 2025-01-13✏️certificate-re-registration-public-limited-company-to-privatechange-of-name · CERT10
- 2025-01-13📄re-registration-memorandum-articlesincorporation · MAR
- 2025-01-13✏️reregistration-public-to-private-companychange-of-name · RR02
- 2024-12-19📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-09-06📄accounts-with-accounts-type-groupaccounts · AA
- 2024-05-01📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-01📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-04-26🔒Charge registered #15Lender: Long Street Property Finance Limited as Lender (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01)
- 2024-04-26🔒Charge registered #14Lender: Mura Estates LLP as Lender (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01)
- 2024-03-08📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-03-07🔒Charge registered #13Lender: Metro Bank PLC
- 2023-05-15📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-05-12🔒Charge registered #12Lender: Mura Estates LLP as Lender (As Defined in the Instrument Appended to This MR01)
- 2023-02-15📄change-person-director-company-with-change-dateofficers · CH01
- 2023-02-15📄change-person-secretary-company-with-change-dateofficers · CH03
- 2023-02-02📄accounts-with-accounts-type-groupaccounts · AA
- 2022-07-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-07-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-07-22🔓Charge satisfied #3
- 2022-07-22🔓Charge satisfied #1
- 2022-05-31📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-05-30🔒Charge registered #11Lender: Oaknorth Bank PLC
- 2022-05-21📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-05-21🔓Charge satisfied #6
- 2022-05-04📄accounts-with-accounts-type-groupaccounts · AA
- 2021-12-31➖CUNNINGHAM, Bernadette Marie resigneddirector
- 2021-12-31➕CUNNINGHAM, Sinead Louise appointeddirector
- 2021-07-16🔒Charge registered #10Lender: Paragon Development Finance Limited
- 2020-04-06🔓Charge satisfied #5
- 2020-04-01🔒Charge registered #9Lender: Oaknorth Bank PLC as Security Trustee
- 2017-12-18🔒Charge registered #8Lender: Metro Bank PLC
- 2017-09-21🔒Charge registered #7Lender: Oaknorth Bank Limited
- 2017-08-15🔒Charge registered #6Lender: Titlestone Structured Finance Limited
- 2017-08-03🔒Charge registered #5Lender: Hsbc Bank PLC
- 2017-08-03🔓Charge satisfied #2
- 2017-07-20🔓Charge satisfied #4
- 2013-07-10➖CUNNINGHAM, Denis resigneddirector
- 2012-03-23🔒Charge registered #4Lender: Barclays Bank PLC
- 2011-04-20🔒Charge registered #3Lender: Hsbc Bank PLC
- 2008-07-31🔒Charge registered #2Lender: Bank of Scotland PLC
- 2007-11-02🔒Charge registered #1Lender: Hsbc Bank PLC
- 2006-08-01➕CUNNINGHAM, Bernadette Marie appointeddirector
- 1989-09-07🏢Company incorporatedAs THORNSETT GROUP LIMITED
- 1989-09-07➕CUNNINGHAM, Gerard appointeddirector
- 1989-09-07➕CUNNINGHAM, Denis appointeddirector
Owner dependency
100/100
Critical — business is the founderThe 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 37 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 67 — succession pressure is live.
Succession & seller-readiness
95/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 67. 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 37 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 37 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
2 med · 1 lowCharge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Name changed 2 times
mediumName changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.
Evidence: 2025-01-13: certificate-re-registration-public-limited-company-to-private; 2025-01-13: reregistration-public-to-private-company
9 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Gerard Cunningham Individual · Irish · DOB 01/1959 · age 67 | 75–100% | 75–100% | board controlsig. influence75-100% shares · 75-100% voting · board control · significant influence · firm interest | 06/04/2016 |
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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|---|---|---|---|---|---|---|---|
| ABM DIGITAL ACCOUNTANTS LTD→ 14013458 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
| ABS SERVICE LINK LIMITED→ 14459480 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| ACC SPCE LTD→ 16490019 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACCELERATE ABC LTD→ 16860886 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACCOUNTANCY SERVICES (SE) LIMITED→ 09095701 · est 2014 · no financials extracted | — | — | — | — | 11y | — | — |
| ACCOUNTANT FOR BARBERS LTD→ 15263421 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ACCOUNTING AND BOOKKEEPING SERVICES LIMITED→ 16746912 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACCOUNTING CROWS LTD→ 16428248 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACCOUNTPAD LTD→ 12071130 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| ACCOUNTSBOOK LTD→ 15056272 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ACCOVIS ACCOUNTANTS LTD→ 16431571 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ACCTAX CONSULTANCY LIMITED→ 06570472 · est 2008 · no financials extracted | — | — | — | — | 17y | — | — |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
9 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
Incorporated1989-09-07
Jurisdictionengland-wales
Primary SIC70100 — Activities of head offices
Registered office
305 Cambridge Heath Road
London
E2 9LH
England
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-01-02
Last: 2025-12-19
Officers (2 active · 3 resigned)
Active
CUNNINGHAM, Gerard→
Activedirector · ~67y · appointed 1989-09-07
View their other companies + combined net worth →
CUNNINGHAM, Bernadette Marie→
Resigneddirector · ~56y · appointed 2006-08-01 · resigned 2021-12-31
CUNNINGHAM, Denis→
Resigneddirector · ~76y · appointed 1989-09-07 · resigned 2013-07-10
CUNNINGHAM, Sinead Louise→
Resigneddirector · ~47y · appointed 2021-12-31 · resigned 2025-12-08
Click a director name to see their full track record across all companies.
Mortgages & charges
15
Total charges
9
Outstanding
6
Active lenders
Status:Lender:15 of 15 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Long Street Property Finance as Lender (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01) Long Street Property Finance Limited as Lender (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01) | A registered charge | — | 26/04/2024 | — | |
| outstanding | Mura Estates as Lender (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01) Mura Estates LLP as Lender (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01) | A registered charge | — | 26/04/2024 | — | |
| outstanding | Metro Bank Metro Bank PLC | A registered charge | 1 property | 07/03/2024 | — | |
| outstanding | Mura Estates as Lender (As Defined in the Instrument Appended to This MR01) Mura Estates LLP as Lender (As Defined in the Instrument Appended to This MR01) | A registered charge | — | 12/05/2023 | — | |
| outstanding | OakNorth Oaknorth Bank PLC | A registered charge | 1 property | 30/05/2022 | — | |
| outstanding | Paragon Paragon Development Finance Limited | A registered charge | — | 16/07/2021 | — | |
| outstanding | OakNorth Oaknorth Bank PLC as Security Trustee | A registered charge | — | 01/04/2020 | — | |
| outstanding | Metro Bank Metro Bank PLC | A registered charge | 1 property | 18/12/2017 | — | |
| outstanding | OakNorth Oaknorth Bank Limited | A registered charge | — | 21/09/2017 | — | |
| satisfied | Titlestone Structured Finance Titlestone Structured Finance Limited | A registered charge | — | 15/08/2017 | 21/05/2022 | |
| satisfied | HSBC Hsbc Bank PLC | A registered charge | 1 property | 03/08/2017 | 06/04/2020 | |
| satisfied | Barclays Barclays Bank PLC | Share charge | 1 property | 23/03/2012 | 20/07/2017 | |
| satisfied | HSBC Hsbc Bank PLC | Share charge | 1 property | 20/04/2011 | 22/07/2022 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | Legal charge | 1 property | 31/07/2008 | 03/08/2017 | |
| satisfied | HSBC Hsbc Bank PLC | Debenture | 1 property | 02/11/2007 | 22/07/2022 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (151 total)
accounts-with-accounts-type-group
accounts · AA
2026-01-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-12-19
termination-director-company-with-name-termination-date
officers · TM01
2025-12-08
change-account-reference-date-company-previous-extended
accounts · AA01
2025-01-24
resolution
resolution · RESOLUTIONS
2025-01-13
certificate-re-registration-public-limited-company-to-private
change-of-name · CERT10
2025-01-13
re-registration-memorandum-articles
incorporation · MAR
2025-01-13
reregistration-public-to-private-company
change-of-name · RR02
2025-01-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-19
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-12-19
accounts-with-accounts-type-group
accounts · AA
2024-09-06
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-01
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-01
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-03-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-21