ALTERED IMAGES LIMITED

🌳Matureactive
03232970 · ltd · incorporated 1996-08-02
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
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
67/100
Strong
🔔
Follow this company (free)
Email alerts on filings, charges, director changes, gazette notices. No account needed.

Unsubscribe any time from any email. GDPR-respectful.

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch
What this business does
Primary activity: Other retail sale of new goods in specialised stores (other than commercial art galleries and opticians)
Sector: Wholesale & retail
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 67/100 (strong), bankability 57/100. Strong seller-intent signal (63/100, director aged 56). Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (50/100).

🏦

Refinance opportunity

4 live charges · 4 lenders · oldest 29.0y

35/100
too messy

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

  • · Oldest live charge is 29.0 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 40/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (77/100)

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
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
15 officers (3 active, 15 linked, 9 with DOB)
82
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
124 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
67/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
65
Some acquirability indicators.
Risk profile
59
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Key financials

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

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Average employees151500

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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (54 events)Click to expand
  1. 2025-12-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-06-20
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  5. 2023-06-20
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  6. 2023-06-20
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  7. 2023-06-20
    📄
    appoint-person-secretary-company-with-name-date
    officers · AP03
  8. 2023-06-20
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  9. 2023-03-10
    ➕
    GILL, Anthony appointed
    secretary
  10. 2023-03-10
    ➖
    JOHNSON, David Kenneth resigned
    secretary
  11. 2023-03-10
    ➖
    JOHNSON, David Kenneth resigned
    director
  12. 2022-08-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2021-11-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2021-06-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  15. 2021-04-26
    📄
    capital-return-purchase-own-shares
    capital · SH03
  16. 2021-02-11
    📄
    capital-cancellation-shares
    capital · SH06
  17. 2021-02-03
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  18. 2021-02-03
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  19. 2021-01-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2020-12-17
    ➖
    HAYDON, Clive Stuart resigned
    director
  21. 2020-01-14
    📄
    change-person-director-company-with-change-date
    officers · CH01
  22. 2020-01-08
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  23. 2020-01-08
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  24. 2020-01-08
    🔓
    Charge satisfied #3
  25. 2020-01-08
    🔓
    Charge satisfied #2
  26. 2018-08-01
    ➕
    GILL, Anthony appointed
    director
  27. 2017-08-18
    ➖
    BRYAN, Matt resigned
    director
  28. 2014-08-02
    ➖
    TURNER, Stuart David resigned
    director
  29. 2014-03-25
    ➕
    JOHNSON, David Kenneth appointed
    secretary
  30. 2014-03-24
    ➖
    HAYDON, Clive Stuart resigned
    secretary
  31. 2012-06-19
    ➕
    BRYAN, Matt appointed
    director
  32. 2010-03-30
    🔓
    Charge satisfied #4
  33. 2006-04-01
    ➕
    FRITH, Nicholas appointed
    director
  34. 2006-04-01
    ➕
    TURNER, Stuart David appointed
    director
  35. 2006-02-21
    🔒
    Charge registered #4
    Lender: Sci Kaia
  36. 2004-12-23
    ➖
    CUTTS, Brian Michael resigned
    director
  37. 2003-04-01
    ➕
    HAYDON, Clive Stuart appointed
    secretary
  38. 2003-03-31
    ➖
    VON GERARD, David Francis Robert resigned
    secretary
  39. 2003-03-31
    ➖
    VON GERARD, David Francis Robert resigned
    director
  40. 2002-04-01
    ➕
    CUTTS, Brian Michael appointed
    director
  41. 2001-01-12
    🔒
    Charge registered #3
    Lender: The London Property Partnership Limited
  42. 1997-07-15
    🔒
    Charge registered #2
    Lender: Adobe Systems Direct Limited
  43. 1997-07-07
    🔒
    Charge registered #1
    Lender: Midland Bank PLC
  44. 1997-04-01
    ➕
    VON GERARD, David Francis Robert appointed
    secretary
  45. 1997-03-31
    ➖
    LEDGER, Graham Howard resigned
    secretary
  46. 1997-03-31
    ➖
    HOLTON, Kellyan Louise resigned
    director
  47. 1997-03-25
    ➕
    HAYDON, Clive Stuart appointed
    director
  48. 1997-03-25
    ➕
    JOHNSON, David Kenneth appointed
    director
  49. 1997-03-25
    ➕
    VON GERARD, David Francis Robert appointed
    director
  50. 1996-08-02
    🏢
    Company incorporated
    As ALTERED IMAGES LIMITED
Showing most recent 50 of 54 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 20 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

61/100
Strong succession signal

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

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 20 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 30 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 high · 1 med ·
Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2026-07-04

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

Manorway (Media) Group Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Manorway (Media) Group Ltd
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
ALTERED IMAGES LIMITED
This company · 03232970

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
Manorway (Media) Group Ltd
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control10/03/2023
2 historic (ceased) PSCs
  • David Kenneth Johnsonceased 10/03/2023· 75-100% shares · 75-100% voting · board control
  • Mr Clive Stuart Haydonceased 17/12/2020· 25-50% shares

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

Similar companies

Active · Retail · KT postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
A&P KAPOOR LIMITED→
17058755 · est 2026 · no financials extracted
———————
ALLTHINGSKINKY LTD→
15133059 · est 2023
————2y——
ALPHOLOCK LIMITED→
15176776 · est 2023
————2y——
AMPLIFIED STRENGTH LTD→
14973915 · est 2023 · no financials extracted
————2y——
AN URBAN ROSE LTD→
13824413 · est 2022 · no financials extracted
————4y——
ANGELA ELLIS LTD→
16171823 · est 2025 · no financials extracted
————1y——
ANNA WALKER LONDON LIMITED→
09603379 · est 2015 · no financials extracted
————10y——
ANNA WISCOMBE LIMITED→
10058543 · est 2016 · no financials extracted
————10y——
ANTHOLOGY 5 LIMITED→
10033619 · est 2016 · no financials extracted
————10y——
ANTHONY PETROLEUM CO LIMITED→
05534224 · est 2005 · no financials extracted
————20y——
ANTIPAROS LTD→
13253369 · est 2021 · no financials extracted
————5y——
ANTONY JAMES JEWELLERS LIMITED→
07199060 · est 2010 · no financials extracted
————16y——
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
Incorporated1996-08-02
Jurisdictionengland-wales
Primary SIC47789 — Other retail sale of new goods in specialised stores (other than commercial art galleries and opticians)

Registered office

1 Park Road
Hampton Wick
Kingston Upon Thames
Surrey
KT1 4AS

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-07-04OVERDUE
Last: 2025-06-20

Officers (3 active · 12 resigned)

GILL, Anthony→
secretary · appointed 2023-03-10
View their other companies + combined net worth →
Active
FRITH, Nicholas→
director · ~56y · appointed 2006-04-01
View their other companies + combined net worth →
Active
GILL, Anthony→
director · ~46y · appointed 2018-08-01
View their other companies + combined net worth →
Active
HAYDON, Clive Stuart→
secretary · appointed 2003-04-01 · resigned 2014-03-24
Resigned
JOHNSON, David Kenneth→
secretary · appointed 2014-03-25 · resigned 2023-03-10
Resigned
LEDGER, Graham Howard→
secretary · appointed 1996-08-02 · resigned 1997-03-31
Resigned
VON GERARD, David Francis Robert→
secretary · appointed 1997-04-01 · resigned 2003-03-31
Resigned
SWIFT INCORPORATIONS LIMITED→
corporate-nominee-secretary · appointed 1996-08-02 · resigned 1996-08-02
Resigned
BRYAN, Matt→
director · ~51y · appointed 2012-06-19 · resigned 2017-08-18
Resigned
CUTTS, Brian Michael→
director · ~64y · appointed 2002-04-01 · resigned 2004-12-23
Resigned
HAYDON, Clive Stuart→
director · ~70y · appointed 1997-03-25 · resigned 2020-12-17
Resigned
HOLTON, Kellyan Louise→
director · ~54y · appointed 1996-08-02 · resigned 1997-03-31
Resigned
JOHNSON, David Kenneth→
director · ~73y · appointed 1997-03-25 · resigned 2023-03-10
Resigned
TURNER, Stuart David→
director · ~61y · appointed 2006-04-01 · resigned 2014-08-02
Resigned
VON GERARD, David Francis Robert→
director · ~72y · appointed 1997-03-25 · resigned 2003-03-31
Resigned

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

Mortgages & charges

4
Total charges
1
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
satisfied
Sci Kaia
Rent deposit deed1 property21/02/200630/03/2010
satisfied
The London Property Partnership
The London Property Partnership Limited
Rent deposit deed1 property12/01/200108/01/2020
satisfied
Adobe Systems Direct
Adobe Systems Direct Limited
Rent deposit deed1 property15/07/199708/01/2020
outstanding
Midland Bank
Midland Bank PLC
Debenture1 property07/07/1997—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (124 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-18
confirmation-statement-with-updates
confirmation-statement · CS01
2025-07-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-17
confirmation-statement-with-updates
confirmation-statement · CS01
2024-06-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-22
confirmation-statement-with-updates
confirmation-statement · CS01
2023-06-20
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-06-20
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-06-20
termination-secretary-company-with-name-termination-date
officers · TM02
2023-06-20
appoint-person-secretary-company-with-name-date
officers · AP03
2023-06-20
termination-director-company-with-name-termination-date
officers · TM01
2023-06-20
confirmation-statement-with-updates
confirmation-statement · CS01
2022-09-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-08-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-11-18
confirmation-statement-with-updates
confirmation-statement · CS01
2021-08-03