BAE SYSTEMS LAND SYSTEMS (FINANCE) LIMITED

💤Zombieactive
02639638 · ltd · incorporated 1991-08-21
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.
Why now
Window steady · high confidence
Thesis has shifted recently — watch for confirmation.
  • · Lifecycle stage: mature → zombie
  • · Investment thesis: well_run_hard_buy → zombie_hold
  • · Deal-killer verdict: clean → workable
  • · Refinance opportunity: too_messy → under_pressure
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
  • · Lifecycle stage drifting downward
  • · Currently "zombie"
What changed my view
Last 30 days

Mixed signals in the last 30 days — 1 improved, 2 worsened.

  • ↓Lifecycle stage: mature → zombie
  • ·Investment thesis: well_run_hard_buy → zombie_hold
  • ↑Deal-killer verdict: clean → workable
  • ↓Refinance opportunity: too_messy → under_pressure
Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
74/100
Strong
🔔
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What this business does
Primary activity: Activities of other holding companies n.e.c.
Sector: Financial & insurance
Investor take
Pursue
Asset-holding vehicle with a 62-year-old founder — textbook succession opportunity.

Opportunity 74/100 (strong), bankability 77/100. Strong seller-intent signal (65/100, director aged 62). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 8 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (53/100).

🏦

Refinance opportunity

22 live charges · 8 lenders · oldest 34.8y

15/100
under pressure

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

  • · Oldest live charge is 34.8 years old — likely at or near maturity.
  • · 8 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (57/100)

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
22 charges (22/22 with lender, 22/22 with type)
90
Directors & officers
29 officers (2 active, 29 linked, 20 with DOB)
84
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
225 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
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
69
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Recent activity

Last 30 days
2
filings
  • • 1 confirmation-statement
  • • 1 officers
Last 90 days
2
filings
  • • 1 confirmation-statement
  • • 1 officers
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 officers
Counts from Companies House filing history.
Corporate timeline (120 events)Click to expand
  1. 2026-07-01
    ➖
    WOOD, Simon Daniel resigned
    director
  2. 2026-07-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  3. 2025-12-02
    📄
    appoint-corporate-secretary-company-with-name-date
    officers · AP04
  4. 2025-12-02
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  5. 2025-09-19
    ➕
    BAE SYSTEMS CORPORATE SECRETARY LIMITED appointed
    corporate-secretary
  6. 2025-09-19
    ➖
    CLARKE, Anthony resigned
    secretary
  7. 2025-09-19
    📄
    accounts-with-accounts-type-full
    accounts · AA
  8. 2024-08-09
    📄
    accounts-with-accounts-type-full
    accounts · AA
  9. 2024-06-05
    📄
    appoint-person-secretary-company-with-name-date
    officers · AP03
  10. 2024-06-05
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  11. 2024-06-01
    ➕
    CLARKE, Anthony appointed
    secretary
  12. 2024-05-31
    ➖
    PARKES, David Stanley resigned
    secretary
  13. 2023-12-13
    📄
    change-person-director-company-with-change-date
    officers · CH01
  14. 2023-12-13
    📄
    change-person-director-company-with-change-date
    officers · CH01
  15. 2023-12-11
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  16. 2023-12-05
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC05
  17. 2023-12-04
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  18. 2023-08-08
    📄
    accounts-with-accounts-type-full
    accounts · AA
  19. 2023-05-25
    📄
    change-person-director-company-with-change-date
    officers · CH01
  20. 2023-05-10
    📄
    change-person-director-company-with-change-date
    officers · CH01
  21. 2023-04-25
    ➖
    EDWARDS, Gareth Jeffrey resigned
    director
  22. 2023-04-25
    ➕
    WOOD, Simon Daniel appointed
    director
  23. 2023-04-25
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  24. 2023-04-25
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  25. 2022-07-21
    📄
    accounts-with-accounts-type-full
    accounts · AA
  26. 2021-08-19
    📄
    accounts-with-accounts-type-full
    accounts · AA
  27. 2020-10-20
    ➕
    STEWART, Nigel John appointed
    director
  28. 2020-10-20
    ➕
    EDWARDS, Gareth Jeffrey appointed
    director
  29. 2020-10-20
    ➖
    PLANT, Glynn Edward Patrick resigned
    director
  30. 2020-08-21
    ➖
    COLLINS, Adam Robert resigned
    director
  31. 2020-04-06
    ➖
    OSBALDESTIN, Jennifer Blair resigned
    director
  32. 2020-04-06
    ➕
    PLANT, Glynn Edward Patrick appointed
    director
  33. 2017-06-15
    ➕
    COLLINS, Adam Robert appointed
    director
  34. 2017-06-15
    ➖
    MILLER, Matthew Stephen resigned
    director
  35. 2015-08-21
    ➖
    BOND, David Alan resigned
    director
  36. 2015-08-21
    ➕
    OSBALDESTIN, Jennifer Blair appointed
    director
  37. 2013-04-30
    ➕
    MILLER, Matthew Stephen appointed
    director
  38. 2013-04-30
    ➖
    SPARKES, Christopher Neil James resigned
    director
  39. 2013-02-04
    ➖
    BLAKEMORE, Charles Anthony resigned
    director
  40. 2013-02-04
    ➕
    BOND, David Alan appointed
    director
  41. 2011-09-12
    ➖
    ALLOTT, David Leonard resigned
    director
  42. 2011-09-12
    ➕
    BLAKEMORE, Charles Anthony appointed
    director
  43. 2011-08-08
    ➖
    IERLAND, Brian William resigned
    director
  44. 2011-08-08
    ➕
    SPARKES, Christopher Neil James appointed
    director
  45. 2008-05-30
    ➕
    ALLOTT, David Leonard appointed
    director
  46. 2008-05-30
    ➖
    DAVIES, Andrew Oswell Bede resigned
    director
  47. 2007-11-26
    ➖
    GRANT, Jonathan Paul resigned
    director
  48. 2007-11-26
    ➕
    IERLAND, Brian William appointed
    director
  49. 2005-06-30
    🔓
    Charge satisfied #24
  50. 2005-06-30
    🔓
    Charge satisfied #23
Showing most recent 50 of 120 events

Owner dependency

83/100
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.
  • +Senior director age: Director aged approximately 62 — approaching natural succession window.

Succession & seller-readiness

55/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

2 med ·
2 director resignations in last 12 months
medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: CLARKE, Anthony resigned 2025-09-19; WOOD, Simon Daniel resigned 2026-07-01

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

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

🏛️
Alvis Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
BAE SYSTEMS LAND SYSTEMS (FINANCE) LIMITED
This company · 02639638

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
Alvis 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

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
Incorporated1991-08-21
Jurisdictionengland-wales
Primary SIC64209 — Activities of other holding companies n.e.c.

Registered office

Victory Point
Lyon Way, Frimley
Camberley
Surrey
GU16 7EX
England

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-07-05
Last: 2026-06-21

Officers (2 active · 27 resigned)

BAE SYSTEMS CORPORATE SECRETARY LIMITED→
corporate-secretary · appointed 2025-09-19
View their other companies + combined net worth →
Active
STEWART, Nigel John→
director · ~62y · appointed 2020-10-20
View their other companies + combined net worth →
Active
ARCHER, Marc Stephen→
secretary · appointed 1994-04-08 · resigned 1994-10-03
Resigned
CLARKE, Anthony→
secretary · appointed 2024-06-01 · resigned 2025-09-19
Resigned
EARDLEY, Barry Eric→
secretary · appointed 1994-10-03 · resigned 1996-10-25
Resigned
JARMAN, Patrick Edmund→
secretary · appointed 1999-10-13 · resigned 2005-02-04
Resigned
MATTHEWS, John Michael→
secretary · appointed 1991-09-06 · resigned 1994-04-08
Resigned
MCCOLLUM, Angela Jean→
nominee-secretary · appointed 1991-08-21 · resigned 1991-09-06
Resigned
PARKES, David Stanley→
secretary · appointed 2005-02-04 · resigned 2024-05-31
Resigned
PEARSON, Anthony Ralph→
secretary · appointed 1996-10-25 · resigned 1999-10-13
Resigned
ALLOTT, David Leonard→
director · ~65y · appointed 2008-05-30 · resigned 2011-09-12
Resigned
ASHLEY TAYLOR, Martyn Paul→
nominee-director · ~71y · appointed 1991-08-21 · resigned 1991-09-06
Resigned
BLAKEMORE, Charles Anthony→
director · ~59y · appointed 2011-09-12 · resigned 2013-02-04
Resigned
BOND, David Alan→
director · ~64y · appointed 2013-02-04 · resigned 2015-08-21
Resigned
COLLINS, Adam Robert→
director · ~46y · appointed 2017-06-15 · resigned 2020-08-21
Resigned
DAVIES, Andrew Oswell Bede→
director · ~63y · appointed 2005-02-04 · resigned 2008-05-30
Resigned
EDWARDS, Gareth Jeffrey→
director · ~51y · appointed 2020-10-20 · resigned 2023-04-25
Resigned
GRANT, Jonathan Paul→
director · ~57y · appointed 2005-02-04 · resigned 2007-11-26
Resigned
GREENSLADE, Martin Frederick→
director · ~61y · appointed 2000-04-01 · resigned 2005-02-04
Resigned
IERLAND, Brian William→
director · ~61y · appointed 2007-11-26 · resigned 2011-08-08
Resigned

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

Mortgages & charges

22
Total charges
0
Outstanding
0
Active lenders
Status:Lender:22 of 22 shown
TypeProperties
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
An omnibus guarantee and set-off agreement dated 17/12/031 property10/02/200430/06/2005
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
An omnibus guarantee and set-off agreement1 property17/12/200330/06/2005
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
Deed of admission to a composite guarantee and debenture dated 2 november 19981 property15/05/200330/06/2005
satisfied
Alvis
Alvis PLC
Deed of admission to a composite guarantee and debenture dated 2 november 1998—15/05/200330/06/2005
satisfied
Lloyds Banking Group
Lloyds Bank PLC,as Trustee
Composite guarantee and debenture in relation to a £20,000,000 multi-currency revolving credit facility1 property02/11/199830/06/2005
satisfied
Lloyds Banking Group
Lloyds Bank PLC,as Trustee
Composite guarantee and debenture in relation to a swedish kroner 401,040,000 multi-currency term loan facility1 property02/11/199830/06/2005
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Composite guarantee and debenture1 property02/11/199830/06/2005
satisfied
Alvis
Alvis PLC
Composite guarantee and debenture relating to a £20,000,000 multi-currency revolving credit facility1 property02/11/199830/06/2005
satisfied
Alvis
Alvis PLC
Composite guarantee and debenture1 property02/11/199830/06/2005
satisfied
Alvis
Alvis PLC
Composite guarantee and debenture relating to a swedish kroner 401,040,000 multi-currency term loan facility1 property02/11/199830/06/2005
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Composite guarantee and debenture1 property22/10/199730/06/2005
satisfied
Alvis
Alvis PLC
Composite guarantee and debenture1 property22/10/199730/06/2005
satisfied
Lloyds Banking Group
Lloyds Bank PLC(The "Trustee")
Composite guarantee and debenture1 property22/10/199730/06/2005
satisfied
Alvis
Alvis PLC
Composite guarantee and debenture1 property22/10/199730/06/2005
satisfied
Alvis ("Alvis")
Alvis PLC("Alvis")
Composite guarantee and debenture1 property22/10/199730/06/2005
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Guarantee and debenture1 property15/05/199518/02/1998
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Assignment and charge of registered designs and design right1 property15/05/199518/02/1998
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Assignment and charge of copyright and design right1 property15/05/199518/02/1998
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Mortgage of trade marks, trade names and goodwill1 property15/05/199518/02/1998
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Assignment and charge of patents1 property15/05/199518/02/1998
satisfied
Each of the Banks
Deed of accession and supplemental charge in favour of lloyds bank PLC as agent and trustee for the banks (as defined)1 property12/07/199418/02/1998
satisfied
Barclays
Barclays Bank PLC
Deed of accession and supplemental charge.1 property30/09/199110/10/1998

Recent filings (225 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-07-06
termination-director-company-with-name-termination-date
officers · TM01
2026-07-01
appoint-corporate-secretary-company-with-name-date
officers · AP04
2025-12-02
termination-secretary-company-with-name-termination-date
officers · TM02
2025-12-02
accounts-with-accounts-type-full
accounts · AA
2025-09-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-25
accounts-with-accounts-type-full
accounts · AA
2024-08-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-21
appoint-person-secretary-company-with-name-date
officers · AP03
2024-06-05
termination-secretary-company-with-name-termination-date
officers · TM02
2024-06-05
change-person-director-company-with-change-date
officers · CH01
2023-12-13
change-person-director-company-with-change-date
officers · CH01
2023-12-13
change-person-secretary-company-with-change-date
officers · CH03
2023-12-11
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-12-05
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-12-04