NORTHERN RACES LIMITED

🌳Matureactive
02928971 · ltd · incorporated 1994-05-13
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
£8.26M
year to Dec 2024
Net worth
—
book net assets
Opportunity
75/100
Strong
🔔
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What this business does
Primary activity: Operation of sports facilities
Sector: Arts, entertainment & recreation
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 75/100 (strong), bankability 77/100. Strong seller-intent signal (68/100, director aged 53). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: strategic trade sale (63/100).

🏦

Refinance opportunity

4 live charges · 4 lenders · oldest 31.4y

25/100
too messy

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

  • · Oldest live charge is 31.4 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 30/100 — workable, but lender will want more DD.
  • · Not currently profitable — coverage conversation is a harder sell.

Data confidence

Overall: medium (76/100)

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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
33 officers (3 active, 33 linked, 24 with DOB)
85
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
20 connected companies via shared directors
90
Filing history
203 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
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
65
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Loss-making
Loss before tax £6,054,303

Key financials

1 year extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-12-31
Turnover£8.26M
Gross profit£8.26M
Operating profit£-6.05M
Profit before tax£-6.05M
Average employees6200

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

2 signals 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
1
filing
  • • 1 confirmation-statement
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
3
filings
  • • 2 officers
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (89 events)Click to expand
  1. 2025-12-12
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  2. 2025-12-12
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  3. 2025-11-21
    ➕
    HUNT, Bradley David appointed
    director
  4. 2025-11-21
    ➖
    SPINCER, Mark resigned
    director
  5. 2025-10-07
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  6. 2025-09-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  7. 2024-10-11
    📄
    accounts-with-accounts-type-full
    accounts · AA
  8. 2023-10-12
    📄
    accounts-with-accounts-type-full
    accounts · AA
  9. 2022-12-22
    📄
    accounts-with-accounts-type-full
    accounts · AA
  10. 2022-03-23
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  11. 2022-03-23
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  12. 2022-02-28
    ➖
    ROBERTSON, Kevin Stuart resigned
    director
  13. 2022-02-28
    ➕
    SPINCER, Mark appointed
    director
  14. 2022-01-18
    📄
    accounts-with-accounts-type-full
    accounts · AA
  15. 2021-04-26
    📄
    change-person-director-company-with-change-date
    officers · CH01
  16. 2020-12-20
    📄
    accounts-with-accounts-type-small
    accounts · AA
  17. 2020-01-02
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  18. 2019-10-09
    📄
    accounts-with-accounts-type-full
    accounts · AA
  19. 2018-10-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  20. 2018-10-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  21. 2018-09-29
    ➖
    O'DRISCOLL, Patrick Colin resigned
    director
  22. 2018-06-08
    📄
    change-person-director-company-with-change-date
    officers · CH01
  23. 2018-05-10
    🔓
    Charge satisfied #4
  24. 2015-07-23
    ➖
    KELLY, Anthony Brian resigned
    director
  25. 2014-06-30
    ➕
    ROBERTSON, Kevin Stuart appointed
    director
  26. 2014-03-12
    🔓
    Charge satisfied #3
  27. 2012-08-31
    ➖
    RENTON, Robert Ian resigned
    director
  28. 2012-05-30
    ➕
    RENTON, Robert Ian appointed
    director
  29. 2012-05-14
    ➕
    HILL, Megan Joy appointed
    secretary
  30. 2012-05-14
    ➖
    NELSON, Rachel Anne resigned
    secretary
  31. 2012-03-16
    ➖
    HARRINGTON, Julie Anne resigned
    director
  32. 2008-06-30
    ➖
    STREET, Rodney Grant resigned
    director
  33. 2007-08-31
    🔓
    Charge satisfied #2
  34. 2007-08-20
    🔒
    Charge registered #4
    Lender: The Governor and Company of the Bank of Scotland as Security Trustee for the Secured Parties(The Security Trustee)
  35. 2007-08-01
    ➕
    NAHUM, Stephane Abraham Joseph appointed
    director
  36. 2007-08-01
    ➕
    O'DRISCOLL, Patrick Colin appointed
    director
  37. 2007-07-31
    ➖
    MARRIS, James Hugh Spencer resigned
    director
  38. 2007-07-31
    ➖
    MOORSOM, Christopher John Leon resigned
    director
  39. 2007-06-22
    ➖
    CLARKE, Simon William resigned
    director
  40. 2007-02-14
    ➖
    KELLY, Anthony Brian resigned
    secretary
  41. 2007-02-14
    ➕
    NELSON, Rachel Anne appointed
    secretary
  42. 2007-01-01
    ➕
    HARRINGTON, Julie Anne appointed
    director
  43. 2006-12-31
    ➖
    CLARE, Stephen Melvyn resigned
    director
  44. 2005-02-11
    ➕
    MARRIS, James Hugh Spencer appointed
    director
  45. 2005-02-11
    ➕
    MOORSOM, Christopher John Leon appointed
    director
  46. 2004-09-19
    ➖
    CLARKE, Stanley William, Sir resigned
    director
  47. 2004-09-10
    ➕
    KELLY, Anthony Brian appointed
    secretary
  48. 2004-09-10
    ➕
    KELLY, Anthony Brian appointed
    director
  49. 2004-09-03
    ➖
    STOKES, Mark Bryan resigned
    secretary
  50. 2004-09-03
    ➖
    STOKES, Mark Bryan resigned
    director
Showing most recent 50 of 89 events

Owner dependency

68/100
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.
  • +Long-tenure founder: Senior director has been in place 19 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

49/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 19 years.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·
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

Northern Racing Limited holds majority control (50-75%). Likely parent but not wholly-owned.

🏛️
Northern Racing Limited
Corporate parent · holds 50-75% shares · board control
majority
⬇
NORTHERN RACES LIMITED
This company · 02928971

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Northern Racing Limited
Corporate entity
50–75%
50–75%board control50-75% shares · 50-75% 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
Incorporated1994-05-13
Jurisdictionengland-wales
Primary SIC93110 — Operation of sports facilities

Registered office

4th Floor Millbank Tower
21-24 Millbank
London
England
SW1P 4QP
England

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-05-27
Last: 2026-05-13

Officers (3 active · 30 resigned)

HILL, Megan Joy→
secretary · appointed 2012-05-14
View their other companies + combined net worth →
Active
HUNT, Bradley David→
director · ~53y · appointed 2025-11-21
View their other companies + combined net worth →
Active
NAHUM, Stephane Abraham Joseph→
director · ~51y · appointed 2007-08-01
View their other companies + combined net worth →
Active
DOONA, Paul Ernest→
secretary · appointed 1994-07-06 · resigned 1999-12-01
Resigned
HOLMES, Nicolas→
secretary · appointed 1999-12-01 · resigned 2000-02-25
Resigned
KELLY, Anthony Brian→
secretary · appointed 2004-09-10 · resigned 2007-02-14
Resigned
NELSON, Rachel Anne→
secretary · appointed 2007-02-14 · resigned 2012-05-14
Resigned
POTTS, Sarah Joanne→
secretary · appointed 2000-02-25 · resigned 2001-03-05
Resigned
STOKES, Mark Bryan→
secretary · appointed 2001-03-05 · resigned 2004-09-03
Resigned
MAWLAW SECRETARIES LIMITED→
corporate-secretary · appointed 1994-05-13 · resigned 1994-07-06
Resigned
CLARE, Stephen Melvyn→
director · ~72y · appointed 2004-06-04 · resigned 2006-12-31
Resigned
CLARKE, Simon William→
director · ~61y · appointed 1999-08-23 · resigned 2007-06-22
Resigned
CLARKE, Stanley William, Sir→
director · ~93y · appointed 1994-07-06 · resigned 2004-09-19
Resigned
DOONA, Paul Ernest→
director · ~74y · appointed 1994-07-06 · resigned 1999-12-01
Resigned
FADIL, Susan Carol→
nominee-director · ~60y · appointed 1994-05-13 · resigned 1994-07-06
Resigned
GERARD PEARSE, Jane Louise→
director · ~63y · appointed 1995-05-18 · resigned 2004-06-04
Resigned
GLOSSOP, Charles Compton Anthony→
director · ~85y · appointed 1994-07-06 · resigned 2004-06-04
Resigned
HARRINGTON, Julie Anne→
director · ~57y · appointed 2007-01-01 · resigned 2012-03-16
Resigned
HOLMES, Nicolas→
director · appointed 1999-08-23 · resigned 2000-02-25
Resigned
JONES, Stephen Rhys→
director · ~66y · appointed 2001-10-26 · resigned 2004-06-04
Resigned

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

Mortgages & charges

4
Total charges
0
Outstanding
0
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland as Security Trustee for the Secured Parties(The Security Trustee)
Debenture1 property20/08/200710/05/2018
satisfied
Aib Group (UK) as Agent and Trustee for the Lenders
Aib Group (UK) PLC as Agent and Trustee for the Lenders
Amendment agreement relating to a mortgage debenture dated 20 december 2002 and1 property28/02/200312/03/2014
satisfied
Aib Group (UK) P.L.C.
Mortgage debenture1 property20/12/200231/08/2007
satisfied
National Westminster Bank
National Westminster Bank PLC
Mortgage debenture1 property13/01/199513/03/2003

Recent filings (203 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-05-13
termination-director-company-with-name-termination-date
officers · TM01
2025-12-12
appoint-person-director-company-with-name-date
officers · AP01
2025-12-12
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-10-07
accounts-with-accounts-type-full
accounts · AA
2025-09-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-13
accounts-with-accounts-type-full
accounts · AA
2024-10-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-05-13
accounts-with-accounts-type-full
accounts · AA
2023-10-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-15
accounts-with-accounts-type-full
accounts · AA
2022-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-05-13
termination-director-company-with-name-termination-date
officers · TM01
2022-03-23
appoint-person-director-company-with-name-date
officers · AP01
2022-03-23
accounts-with-accounts-type-full
accounts · AA
2022-01-18