ARMCON LIMITED

🌳Matureactive
02678983 · ltd · incorporated 1992-01-20
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jan 2026
Net worth
£7.4k
book net assets
Opportunity
75/100
Strong
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What this business does
Primary activity: Non-specialised wholesale trade
Sector: Wholesale & retail
Investor take
Pursue
Active trading company with a 64-year-old founder — textbook succession opportunity.

Opportunity 75/100 (strong), bankability 67/100. Strong seller-intent signal (65/100, director aged 64). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

6 live charges · 5 lenders · oldest 22.3y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 22.3 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
10 officers (2 active, 10 linked, 7 with DOB)
84
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
127 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
69
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £7,416
Cash YoY
+179%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£104k
↑ 179% YoY
Net Worth
£7k
↑ 101% YoY
Current Assets
£2.2m
↓ 11% YoY
Current Liabilities
—
-£756k-£109k£538k£1.2m£1.8m£2.5mJan 2025Jan 2026

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2026-01-312025-01-31
Total assets£362.4k£-591.5k
Current assets£2.22M£2.48M
Cash£104.3k£37.4k
Debtors£740.2k£536.5k
Net assets£7.4k£-756.2k

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
3
filings
  • • 2 accounts
  • • 1 capital
Counts from Companies House filing history.
Corporate timeline (49 events)Click to expand
  1. 2026-02-25
    📄
    capital-allotment-shares
    capital · SH01
  2. 2026-02-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2026-02-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2026-01-16
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  5. 2025-09-05
    📄
    change-person-director-company-with-change-date
    officers · CH01
  6. 2025-09-05
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2025-08-21
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  8. 2025-08-21
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  9. 2025-07-25
    ➖
    ARMSTRONG, Robert resigned
    secretary
  10. 2025-07-25
    ➖
    ARMSTRONG, Robert resigned
    director
  11. 2025-01-21
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  12. 2025-01-21
    🔓
    Charge satisfied #6
  13. 2024-06-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2024-06-13
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  15. 2024-04-17
    ➕
    CRAVEN, Susan appointed
    director
  16. 2023-07-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2022-10-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2022-07-28
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  19. 2022-07-12
    🔒
    Charge registered #7
    Lender: Armcon Rentals Limited
  20. 2021-10-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2020-11-12
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  22. 2020-11-02
    ➕
    WARBURTON, Sean appointed
    director
  23. 2020-05-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  24. 2020-04-09
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  25. 2020-04-06
    ➖
    ARMITAGE, Michael David resigned
    director
  26. 2020-03-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  27. 2016-04-12
    🔓
    Charge satisfied #1
  28. 2014-02-19
    🔓
    Charge satisfied #2
  29. 2013-10-23
    🔓
    Charge satisfied #3
  30. 2013-08-01
    ➖
    ARMSTRONG, Stuart resigned
    director
  31. 2013-04-29
    🔓
    Charge satisfied #5
  32. 2013-04-24
    🔒
    Charge registered #6
    Lender: Rowanmoor Trustees Limited, Robert Armstrong and Stuart Armstrong
  33. 2011-03-11
    ➕
    ARMSTRONG, Stuart appointed
    director
  34. 2010-01-18
    🔒
    Charge registered #5
    Lender: Rowanmoor Trustees Limited, Robert Armstrong and Stuart Armstrong
  35. 2007-02-01
    ➕
    ARMITAGE, Michael David appointed
    director
  36. 2006-05-26
    ➖
    MAYCOCK, Roy resigned
    director
  37. 2006-05-04
    🔒
    Charge registered #3
    Lender: Barclays Mercantile Business Finance Limited
  38. 2004-05-26
    🔒
    Charge registered #2
    Lender: Yorkshire Bank
  39. 2004-04-02
    🔒
    Charge registered #1
    Lender: National Westminster Bank PLC
  40. 2004-02-27
    ➖
    ARMSTRONG, Stuart resigned
    director
  41. 2004-02-27
    ➕
    MAYCOCK, Roy appointed
    director
  42. 1992-01-20
    🏢
    Company incorporated
    As ARMCON LIMITED
  43. 1992-01-20
    ➕
    ARMSTRONG, Robert appointed
    secretary
  44. 1992-01-20
    ➕
    LONDON LAW SECRETARIAL LIMITED appointed
    corporate-nominee-secretary
  45. 1992-01-20
    ➖
    LONDON LAW SECRETARIAL LIMITED resigned
    corporate-nominee-secretary
  46. 1992-01-20
    ➕
    ARMSTRONG, Robert appointed
    director
  47. 1992-01-20
    ➕
    ARMSTRONG, Stuart appointed
    director
  48. 1992-01-20
    ➕
    LONDON LAW SERVICES LIMITED appointed
    corporate-nominee-director
  49. 1992-01-20
    ➖
    LONDON LAW SERVICES LIMITED resigned
    corporate-nominee-director

Owner dependency

66/100
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.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

56/100
Strong succession signal

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

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: ARMSTRONG, Robert resigned 2025-07-25; ARMSTRONG, Robert resigned 2025-07-25

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

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

🏛️
Armcon Trading Limited
Corporate parent · holds 75-100% shares
ultimate parent
⬇
ARMCON LIMITED
This company · 02678983

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
Armcon Trading Limited
Corporate entity
75–100%
75–100%75-100% shares · 75-100% voting · firm interest08/06/2016
1 historic (ceased) PSC
  • Robert Armstrongceased 10/11/2025· 75-100% shares · 75-100% voting

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

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 →
🔒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
Incorporated1992-01-20
Jurisdictionengland-wales
Primary SIC46900 — Non-specialised wholesale trade

Registered office

Armcon Business Park
London Road South
Poynton
Cheshire
SK12 1LQ

Filing status

Accounts
Next due: 2027-10-31
Last made up to: 2026-01-31
Confirmation statement
Next due: 2027-01-21
Last: 2026-01-07

Officers (2 active · 8 resigned)

CRAVEN, Susan→
director · ~64y · appointed 2024-04-17
View their other companies + combined net worth →
Active
WARBURTON, Sean→
director · ~57y · appointed 2020-11-02
View their other companies + combined net worth →
Active
ARMSTRONG, Robert→
secretary · appointed 1992-01-20 · resigned 2025-07-25
Resigned
LONDON LAW SECRETARIAL LIMITED→
corporate-nominee-secretary · appointed 1992-01-20 · resigned 1992-01-20
Resigned
ARMITAGE, Michael David→
director · ~76y · appointed 2007-02-01 · resigned 2020-04-06
Resigned
ARMSTRONG, Robert→
director · ~68y · appointed 1992-01-20 · resigned 2025-07-25
Resigned
ARMSTRONG, Stuart→
director · ~69y · appointed 2011-03-11 · resigned 2013-08-01
Resigned
ARMSTRONG, Stuart→
director · ~69y · appointed 1992-01-20 · resigned 2004-02-27
Resigned
MAYCOCK, Roy→
director · ~76y · appointed 2004-02-27 · resigned 2006-05-26
Resigned
LONDON LAW SERVICES LIMITED→
corporate-nominee-director · appointed 1992-01-20 · resigned 1992-01-20
Resigned

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

Mortgages & charges

6
Total charges
1
Outstanding
1
Active lenders
Status:Lender:6 of 6 shown
TypeProperties
outstanding
Armcon Rentals
Armcon Rentals Limited
A registered charge—12/07/2022—
satisfied
Rowanmoor Trustees , Robert Armstrong and Stuart Armstrong
Rowanmoor Trustees Limited, Robert Armstrong and Stuart Armstrong
A registered charge1 property24/04/201321/01/2025
satisfied
Rowanmoor Trustees , Robert Armstrong and Stuart Armstrong
Rowanmoor Trustees Limited, Robert Armstrong and Stuart Armstrong
Floating charge1 property18/01/201029/04/2013
satisfied
Barclays
Barclays Mercantile Business Finance Limited
Assignment and charge of sub-leasing agreements1 property04/05/200623/10/2013
satisfied
Virgin Money
Yorkshire Bank
Charge and assignment of sub-agreements1 property26/05/200419/02/2014
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property02/04/200412/04/2016
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (127 total)

capital-allotment-shares
capital · SH01
2026-02-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-12
confirmation-statement-with-updates
confirmation-statement · CS01
2026-01-19
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-01-16
change-person-director-company-with-change-date
officers · CH01
2025-09-05
change-person-director-company-with-change-date
officers · CH01
2025-09-05
termination-secretary-company-with-name-termination-date
officers · TM02
2025-08-21
termination-director-company-with-name-termination-date
officers · TM01
2025-08-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-07
mortgage-satisfy-charge-full
mortgage · MR04
2025-01-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-18
appoint-person-director-company-with-name-date
officers · AP01
2024-06-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-17