AIRWAVE EUROPE LTD.

📉Decliningactive
03000768 · ltd · incorporated 1994-12-12
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.
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 "declining"
🔒Estimated value
—
Upgrade to see
Turnover
£15.60M
year to May 2025
Net worth
—
book net assets
Opportunity
77/100
Strong
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What this business does
Primary activity: Other business support service activities n.e.c.
Sector: Administrative & support services
Investor take
Pursue
Conservative operator with a 61-year-old founder — textbook succession opportunity.

Opportunity 77/100 (strong), bankability 67/100. Strong seller-intent signal (60/100, director aged 61). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: strategic trade sale (78/100).

🏦

Refinance opportunity

6 live charges · 3 lenders · oldest 21.7y

35/100
too messy

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

  • · Oldest live charge is 21.7 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: high (83/100)

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 (3 active, 10 linked, 6 with DOB)
82
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
21 connected companies via shared directors
90
Filing history
114 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
77/100Strong
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
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Profitable
Profit before tax £547,051
Turnover YoY
+5%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0May 2024May 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-05-312024-05-31
Turnover£15.60M£14.86M
Gross profit£4.78M£4.20M
Operating profit£547.1k£696.0k
Profit before tax£547.1k£696.3k
Average employees51004800

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
2
filings
  • • 1 accounts
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (47 events)Click to expand
  1. 2026-02-24
    📄
    accounts-with-accounts-type-full
    accounts · AA
  2. 2025-02-25
    📄
    accounts-with-accounts-type-full
    accounts · AA
  3. 2024-02-28
    📄
    accounts-with-accounts-type-full
    accounts · AA
  4. 2024-01-26
    📄
    resolution
    resolution · RESOLUTIONS
  5. 2024-01-26
    📄
    memorandum-articles
    incorporation · MA
  6. 2024-01-22
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  7. 2024-01-19
    🔒
    Charge registered #6
    Lender: Glas Trust Corporation Limited
  8. 2024-01-18
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  9. 2024-01-18
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  10. 2024-01-18
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  11. 2024-01-18
    🔓
    Charge satisfied #5
  12. 2024-01-18
    🔓
    Charge satisfied #4
  13. 2024-01-18
    🔓
    Charge satisfied #3
  14. 2024-01-16
    ➖
    MACKENZIE SMITH, Hugo Duncan Thomas Torquil resigned
    director
  15. 2024-01-16
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  16. 2023-02-14
    📄
    accounts-with-accounts-type-full
    accounts · AA
  17. 2022-04-04
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  18. 2022-03-31
    ➖
    WORRALL, Timothy Andrew resigned
    director
  19. 2022-02-25
    📄
    accounts-with-accounts-type-full
    accounts · AA
  20. 2022-01-19
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  21. 2022-01-17
    🔒
    Charge registered #5
    Lender: Barclays Bank PLC
  22. 2021-10-12
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  23. 2021-10-08
    🔒
    Charge registered #4
    Lender: Barclays Bank PLC
  24. 2021-06-08
    📄
    accounts-with-accounts-type-full
    accounts · AA
  25. 2020-02-20
    📄
    change-person-director-company-with-change-date
    officers · CH01
  26. 2020-02-07
    📄
    accounts-with-accounts-type-full
    accounts · AA
  27. 2018-09-27
    🔒
    Charge registered #3
    Lender: Barclays Bank PLC
  28. 2018-01-05
    ➕
    MACKENZIE SMITH, Hugo Duncan Thomas Torquil appointed
    director
  29. 2017-11-30
    ➕
    DELLOW, Paul William appointed
    director
  30. 2017-11-30
    ➕
    FOGELMAN, David Jason appointed
    director
  31. 2017-11-30
    ➕
    WICKINGS, Robert Charles appointed
    director
  32. 2017-11-30
    ➖
    WORRALL, Zoe Christine resigned
    secretary
  33. 2017-10-18
    🔓
    Charge satisfied #2
  34. 2013-08-02
    🔓
    Charge satisfied #1
  35. 2013-07-11
    🔒
    Charge registered #2
    Lender: Hsbc Bank PLC
  36. 2004-10-18
    🔒
    Charge registered #1
    Lender: Hsbc Bank PLC
  37. 1999-01-08
    ➖
    BUNNING, Louise resigned
    secretary
  38. 1999-01-08
    ➕
    WORRALL, Zoe Christine appointed
    secretary
  39. 1999-01-08
    ➖
    BUNNING, Jonathan Harrison resigned
    director
  40. 1994-12-12
    🏢
    Company incorporated
    As AIRWAVE EUROPE LTD.
  41. 1994-12-12
    ➕
    BUNNING, Louise appointed
    secretary
  42. 1994-12-12
    ➕
    WATERLOW SECRETARIES LIMITED appointed
    corporate-nominee-secretary
  43. 1994-12-12
    ➖
    WATERLOW SECRETARIES LIMITED resigned
    corporate-nominee-secretary
  44. 1994-12-12
    ➕
    BUNNING, Jonathan Harrison appointed
    director
  45. 1994-12-12
    ➕
    WORRALL, Timothy Andrew appointed
    director
  46. 1994-12-12
    ➕
    WATERLOW NOMINEES LIMITED appointed
    corporate-nominee-director
  47. 1994-12-12
    ➖
    WATERLOW NOMINEES LIMITED resigned
    corporate-nominee-director

Owner dependency

58/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS
  • +Senior director age: Director aged approximately 61 — approaching natural succession window.

Succession & seller-readiness

50/100
Moderate signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
  • secondaryStable-but-static management: Company is 32 years old and no new directors in the last 3 years — succession not yet being planned internally.

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

Scci Alphatrack Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Scci Alphatrack Ltd
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
AIRWAVE EUROPE LTD.
This company · 03000768

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
Scci Alphatrack Ltd
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control30/11/2017
2 historic (ceased) PSCs
  • Mr Timothy Andrew Worrallceased 30/11/2017· 50-75% shares
  • Mrs Zoe Christine Worrallceased 30/11/2017· 25-50% shares

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
Incorporated1994-12-12
Jurisdictionengland-wales
Primary SIC82990 — Other business support service activities n.e.c.

Registered office

The Pavilion Botleigh Grange Business Park
Hedge End
Southampton
SO30 2AF
England

Filing status

Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2027-02-02
Last: 2026-01-19

Officers (3 active · 7 resigned)

DELLOW, Paul William→
director · ~52y · appointed 2017-11-30
View their other companies + combined net worth →
Active
FOGELMAN, David Jason→
director · ~56y · appointed 2017-11-30
View their other companies + combined net worth →
Active
WICKINGS, Robert Charles→
director · ~61y · appointed 2017-11-30
View their other companies + combined net worth →
Active
BUNNING, Louise→
secretary · appointed 1994-12-12 · resigned 1999-01-08
Resigned
WORRALL, Zoe Christine→
secretary · appointed 1999-01-08 · resigned 2017-11-30
Resigned
WATERLOW SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 1994-12-12 · resigned 1994-12-12
Resigned
BUNNING, Jonathan Harrison→
director · ~68y · appointed 1994-12-12 · resigned 1999-01-08
Resigned
MACKENZIE SMITH, Hugo Duncan Thomas Torquil→
director · ~54y · appointed 2018-01-05 · resigned 2024-01-16
Resigned
WORRALL, Timothy Andrew→
director · ~67y · appointed 1994-12-12 · resigned 2022-03-31
Resigned
WATERLOW NOMINEES LIMITED→
corporate-nominee-director · appointed 1994-12-12 · resigned 1994-12-12
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
Glas Trust Corporation
Glas Trust Corporation Limited
A registered charge—19/01/2024—
satisfied
Barclays
Barclays Bank PLC
A registered charge—17/01/202218/01/2024
satisfied
Barclays
Barclays Bank PLC
A registered charge—08/10/202118/01/2024
satisfied
Barclays
Barclays Bank PLC
A registered charge—27/09/201818/01/2024
satisfied
HSBC
Hsbc Bank PLC
A registered charge1 property11/07/201318/10/2017
satisfied
HSBC
Hsbc Bank PLC
Debenture1 property18/10/200402/08/2013
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (114 total)

accounts-with-accounts-type-full
accounts · AA
2026-02-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-20
accounts-with-accounts-type-full
accounts · AA
2025-02-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-22
accounts-with-accounts-type-full
accounts · AA
2024-02-28
resolution
resolution · RESOLUTIONS
2024-01-26
memorandum-articles
incorporation · MA
2024-01-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-23
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-01-22
mortgage-satisfy-charge-full
mortgage · MR04
2024-01-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-01-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-01-18
termination-director-company-with-name-termination-date
officers · TM01
2024-01-16
accounts-with-accounts-type-full
accounts · AA
2023-02-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-19