ITHACA NORTH SEA LIMITED

⚰️Wound downdissolved
02548026 · ltd · incorporated 1990-10-12
Investment thesis
Company dissolved — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 18.5y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
60/100
Worth a look
🔔
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What this business does
Primary activity: SIC 06100
Sector: Mining & quarrying
Investor take
Pass (distressed without resilience)
Distressed unclear — structural issues outweigh the discount.

Opportunity 60/100 (worth a look), bankability 80/100. Strong seller-intent signal (73/100, director aged 69). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Resolve: Company dissolved. Company has been dissolved — it no longer legally exists. Any diligence here is historical only. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

3 live charges · 2 lenders · oldest 18.5y

70/100
ready

Refinance conversation should be productive — structure clean and timing right.

  • · Oldest live charge is 18.5 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 20/100 — clean.

Data confidence

Overall: medium (58/100)

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
46 officers (3 active, 46 linked, 35 with DOB)
85
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
214 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
60/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
30
Concerning — overdue filings or status flags present.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
59
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
0
filings
Counts from Companies House filing history.
Corporate timeline (114 events)Click to expand
  1. 2017-01-31
    📄
    gazette-dissolved-voluntary
    gazette · GAZ2(A)
  2. 2017-01-31
    🏁
    Company dissolved
  3. 2016-11-15
    📄
    gazette-notice-voluntary
    gazette · GAZ1(A)
  4. 2016-11-07
    📄
    dissolution-application-strike-off-company
    dissolution · DS01
  5. 2016-09-19
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  6. 2015-12-08
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  7. 2015-10-02
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  8. 2014-11-18
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  9. 2014-10-20
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  10. 2013-11-19
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  11. 2013-10-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  12. 2013-10-03
    📄
    termination-director-company-with-name
    officers · TM01
  13. 2013-10-03
    📄
    appoint-person-director-company-with-name
    officers · AP01
  14. 2013-10-01
    ➕
    THOMAS, Leslie James appointed
    director
  15. 2013-10-01
    ➖
    MCKENDRICK, Charles Iain resigned
    director
  16. 2013-05-28
    📄
    auditors-resignation-company
    auditors · AUD
  17. 2013-04-30
    📍
    change-registered-office-address-company-with-date-old-address
    address · AD01
  18. 2013-04-30
    📄
    termination-director-company-with-name
    officers · TM01
  19. 2013-04-30
    📄
    termination-director-company-with-name
    officers · TM01
  20. 2013-04-30
    📄
    termination-director-company-with-name
    officers · TM01
  21. 2013-04-30
    📄
    termination-director-company-with-name
    officers · TM01
  22. 2013-04-29
    📄
    termination-secretary-company-with-name
    officers · TM02
  23. 2013-04-29
    📄
    appoint-person-director-company-with-name
    officers · AP01
  24. 2013-04-29
    📄
    appoint-person-director-company-with-name
    officers · AP01
  25. 2013-04-29
    📄
    appoint-corporate-secretary-company-with-name
    officers · AP04
  26. 2013-04-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  27. 2013-04-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  28. 2013-04-26
    🔓
    Charge satisfied #3
  29. 2013-04-26
    🔓
    Charge satisfied #2
  30. 2013-04-25
    ➖
    BUCHANAN, Peter resigned
    director
  31. 2013-04-25
    ➖
    LEWIS, Mark Jonathan resigned
    director
  32. 2013-04-25
    ➖
    MANN, Paul James resigned
    director
  33. 2013-04-25
    ➖
    SHAW, Sandra Nan Demby resigned
    director
  34. 2013-04-19
    ➕
    PINSENT MASONS SECRETARIAL LIMITED appointed
    corporate-secretary
  35. 2013-04-19
    ➕
    FORBES, Graham Andrew appointed
    director
  36. 2013-04-19
    ➖
    SHAW, Sandra Nan Demby resigned
    secretary
  37. 2013-04-19
    ➕
    MCKENDRICK, Charles Iain appointed
    director
  38. 2013-03-12
    🔓
    Charge satisfied #1
  39. 2011-03-01
    ➕
    MANN, Paul James appointed
    director
  40. 2010-12-14
    🔒
    Charge registered #3
    Lender: The Governor & Company of the Bank of Ireland
  41. 2010-12-14
    🔒
    Charge registered #2
    Lender: The Governor & Company of the Bank of Ireland
  42. 2010-11-09
    ➖
    MILNE, Gavin Johnston resigned
    secretary
  43. 2010-11-09
    ➕
    SHAW, Sandra Nan Demby appointed
    secretary
  44. 2010-04-30
    ➖
    EDGLEY, Steven Neville resigned
    director
  45. 2010-04-12
    ➕
    LEWIS, Mark Jonathan appointed
    director
  46. 2008-01-17
    ➖
    GHERGHETTA, Robert resigned
    secretary
  47. 2008-01-17
    ➕
    MILNE, Gavin Johnston appointed
    secretary
  48. 2007-12-18
    🔒
    Charge registered #1
    Lender: Bank of Scotland PLC (The Security Trustee)
  49. 2007-08-17
    ➕
    EDGLEY, Steven Neville appointed
    director
  50. 2007-07-26
    ➖
    BUCHANAN, Lawrence John resigned
    director
Showing most recent 50 of 114 events

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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder age: Director aged approximately 69 — succession pressure is live.

Succession & seller-readiness

79/100
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 69. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 13 years.
  • secondaryStable-but-static management: Company is 36 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 high · 1 med ·
Company dissolved
high

Company has been dissolved — it no longer legally exists. Any diligence here is historical only.

Evidence: Dissolved on 2017-01-31

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

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

🏛️
Ithaca Petroleum Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
ITHACA NORTH SEA LIMITED
This company · 02548026

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
Ithaca Petroleum Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control06/04/2016

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 →

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

8 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

Statusdissolved
Typeltd
Incorporated1990-10-12
Jurisdictionengland-wales
Primary SIC06100 — SIC 06100

Registered office

1 Park Row
Leeds
LS1 5AB

Filing status

Accounts
Next due: —
Last made up to: 2015-12-31
Confirmation statement
Next due: —
Last: —

Officers (0 active · 43 resigned)

PINSENT MASONS SECRETARIAL LIMITED→
corporate-secretary · appointed 2013-04-19
View their other companies + combined net worth →
Active
FORBES, Graham Andrew→
director · ~56y · appointed 2013-04-19
View their other companies + combined net worth →
Active
THOMAS, Leslie James→
director · ~69y · appointed 2013-10-01
View their other companies + combined net worth →
Active
BARTLETT, Paul Eugene→
secretary · appointed 2000-12-08 · resigned 2004-05-21
Resigned
BARTLETT, Paul Eugene→
secretary · appointed 1999-01-01 · resigned 2000-03-06
Resigned
BUCHANAN, Peter Gordan→
secretary · appointed 2004-09-30 · resigned 2006-07-01
Resigned
BUTLIN, Rachel Elizabeth→
secretary · resigned 1992-12-17
Resigned
GHERGHETTA, Robert→
secretary · appointed 2006-07-01 · resigned 2008-01-17
Resigned
LEWIS, Derek John→
secretary · appointed 2000-03-06 · resigned 2000-12-07
Resigned
LEWIS, Sally Elizabeth→
secretary · appointed 1992-12-17 · resigned 1999-01-01
Resigned
MILNE, Gavin Johnston→
secretary · appointed 2008-01-17 · resigned 2010-11-09
Resigned
SHAW, Sandra Nan Demby→
secretary · appointed 2010-11-09 · resigned 2013-04-19
Resigned
THOMAS, Marina Louise→
secretary · appointed 2004-05-21 · resigned 2004-09-30
Resigned
ATHERTON, Peter Jack→
director · ~75y · appointed 1993-11-10 · resigned 1995-02-16
Resigned
BARKER, Peter Richard→
director · ~81y · appointed 1993-09-07 · resigned 1994-09-15
Resigned
BROWN, Carl Anthony→
director · ~67y · appointed 1995-02-16 · resigned 1996-09-19
Resigned
BUCHANAN, Lawrence John→
director · ~102y · appointed 2004-09-30 · resigned 2007-07-26
Resigned
BUCHANAN, Peter→
director · ~64y · appointed 2004-09-30 · resigned 2013-04-25
Resigned
BUCHANAN, Peter Gordan→
director · ~64y · appointed 2002-11-04 · resigned 2004-03-16
Resigned
BURROUGH, Neil Anthony→
director · ~67y · appointed 1997-12-08 · resigned 2002-11-04
Resigned

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

Mortgages & charges

3
Total charges
0
Outstanding
0
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
satisfied
The Governor & Company of the Bank of Ireland
Bond and floating charge1 property14/12/201026/04/2013
satisfied
The Governor & Company of the Bank of Ireland
Debenture1 property14/12/201026/04/2013
satisfied
Lloyds Banking Group
Bank of Scotland PLC (The Security Trustee)
Debenture1 property18/12/200712/03/2013

Recent filings (214 total)

gazette-dissolved-voluntary
gazette · GAZ2(A)
2017-01-31
gazette-notice-voluntary
gazette · GAZ1(A)
2016-11-15
dissolution-application-strike-off-company
dissolution · DS01
2016-11-07
confirmation-statement-with-updates
confirmation-statement · CS01
2016-10-12
accounts-with-accounts-type-dormant
accounts · AA
2016-09-19
accounts-with-accounts-type-dormant
accounts · AA
2015-12-08
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2015-10-02
accounts-with-accounts-type-dormant
accounts · AA
2014-11-18
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2014-10-20
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2013-11-19
accounts-with-accounts-type-full
accounts · AA
2013-10-04
termination-director-company-with-name
officers · TM01
2013-10-03
appoint-person-director-company-with-name
officers · AP01
2013-10-03
auditors-resignation-company
auditors · AUD
2013-05-28
change-registered-office-address-company-with-date-old-address
address · AD01
2013-04-30