APPLICATION CENTRE LTD.

💤Zombieactive
03323999 · ltd · incorporated 1997-02-25
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.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£2.6k
book net assets
Opportunity
79/100
Strong
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What this business does
Primary activity: Other activities of employment placement agencies
Sector: Administrative & support services
Investor take
Pursue
Active trading company with a 64-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 67/100. Strong seller-intent signal (80/100, director aged 64). 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: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

3 live charges · 3 lenders · oldest 29.0y

15/100
under pressure

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

  • · Oldest live charge is 29.0 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
8 officers (1 active, 8 linked, 4 with DOB)
80
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
84 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
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 · accounting standard not declared
Positive net assets
Net assets £2,614

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£3k
↑ 202% YoY
Current Assets
£6k
↑ 115% YoY
Current Liabilities
—
£0£1k£2k£4k£5k£6kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£8.7k£6.1k
Current assets£6.0k£2.8k
Net assets£2.6k£866

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

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (36 events)Click to expand
  1. 2025-11-14
    ➖
    CORCORAN, John Michael resigned
    secretary
  2. 2025-11-14
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  3. 2025-10-01
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2024-08-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2023-08-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2022-11-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2021-11-12
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2020-12-02
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2019-10-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2018-10-26
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2017-11-10
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2016-11-02
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2016-04-07
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  14. 2015-10-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2015-04-08
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 2014-11-07
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  17. 2007-03-05
    ➖
    LEA, Geoffrey Steven resigned
    director
  18. 2001-01-17
    🔓
    Charge satisfied #2
  19. 2001-01-17
    🔓
    Charge satisfied #1
  20. 2000-11-24
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  21. 2000-04-01
    ➕
    LEA, Geoffrey Steven appointed
    director
  22. 1999-03-22
    ➕
    CORCORAN, John Michael appointed
    secretary
  23. 1999-01-31
    ➖
    COX, Ian Jeremy resigned
    director
  24. 1998-10-20
    🔒
    Charge registered #2
    Lender: Midland Bank PLC
  25. 1998-09-30
    ➖
    WHAPHAM, David Paul resigned
    secretary
  26. 1998-09-30
    ➖
    WHAPHAM, David Paul resigned
    director
  27. 1997-07-07
    🔒
    Charge registered #1
    Lender: Griffin Credit Services Limited
  28. 1997-02-25
    🏢
    Company incorporated
    As APPLICATION CENTRE LTD.
  29. 1997-02-25
    ➕
    CORCORAN, Paul appointed
    director
  30. 1997-02-25
    ➕
    WHAPHAM, David Paul appointed
    secretary
  31. 1997-02-25
    ➕
    TEMPLES (NOMINEES) LIMITED appointed
    corporate-nominee-secretary
  32. 1997-02-25
    ➖
    TEMPLES (NOMINEES) LIMITED resigned
    corporate-nominee-secretary
  33. 1997-02-25
    ➕
    COX, Ian Jeremy appointed
    director
  34. 1997-02-25
    ➕
    WHAPHAM, David Paul appointed
    director
  35. 1997-02-25
    ➕
    TEMPLES (PROFESSIONAL SERVICES) LIMITED appointed
    corporate-nominee-director
  36. 1997-02-25
    ➖
    TEMPLES (PROFESSIONAL SERVICES) LIMITED resigned
    corporate-nominee-director

Owner dependency

93/100
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.
  • +Long-tenure founder: Senior director has been in place 29 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

95/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 29 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 29 years old and no new directors in the last 3 years — succession not yet being planned internally.
  • 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.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Paul Corcoran
Individual · British · DOB 02/1962 · age 64
75–100%
75–100%75-100% shares · 75-100% voting06/04/2016

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

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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
Incorporated1997-02-25
Jurisdictionengland-wales
Primary SIC78109 — Other activities of employment placement agencies

Registered office

Hilltop 13 Lawn Close
Torquay
Devon
TQ2 8JZ

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-11
Last: 2026-02-25

Officers (1 active · 7 resigned)

CORCORAN, Paul→
director · ~64y · appointed 1997-02-25
View their other companies + combined net worth →
Active
CORCORAN, John Michael→
secretary · appointed 1999-03-22 · resigned 2025-11-14
Resigned
WHAPHAM, David Paul→
secretary · appointed 1997-02-25 · resigned 1998-09-30
Resigned
TEMPLES (NOMINEES) LIMITED→
corporate-nominee-secretary · appointed 1997-02-25 · resigned 1997-02-25
Resigned
COX, Ian Jeremy→
director · ~78y · appointed 1997-02-25 · resigned 1999-01-31
Resigned
LEA, Geoffrey Steven→
director · ~67y · appointed 2000-04-01 · resigned 2007-03-05
Resigned
WHAPHAM, David Paul→
director · ~71y · appointed 1997-02-25 · resigned 1998-09-30
Resigned
TEMPLES (PROFESSIONAL SERVICES) LIMITED→
corporate-nominee-director · appointed 1997-02-25 · resigned 1997-02-25
Resigned

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

Mortgages & charges

3
Total charges
1
Outstanding
1
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Debenture1 property24/11/2000—
satisfied
Midland Bank
Midland Bank PLC
Debenture1 property20/10/199817/01/2001
satisfied
Griffin Credit Services
Griffin Credit Services Limited
Fixed charge on purchased debts which fail to vest1 property07/07/199717/01/2001
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (84 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-10
termination-secretary-company-with-name-termination-date
officers · TM02
2025-11-14
accounts-with-accounts-type-micro-entity
accounts · AA
2025-10-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-25
accounts-with-accounts-type-micro-entity
accounts · AA
2024-08-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-27
accounts-with-accounts-type-micro-entity
accounts · AA
2023-08-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-11
accounts-with-accounts-type-micro-entity
accounts · AA
2022-11-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-25
accounts-with-accounts-type-micro-entity
accounts · AA
2021-11-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-11
accounts-with-accounts-type-micro-entity
accounts · AA
2020-12-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-04-06
accounts-with-accounts-type-micro-entity
accounts · AA
2019-10-23