TRUELINE SYSTEMS LIMITED

⚰️Wound downdissolved
03663810 · ltd · incorporated 1998-11-06
Investment thesis
Company dissolved — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
🔒Estimated value
—
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Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
43/100
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What this business does
Primary activity: Other software publishing
Sector: Information & communication
Investor take
Pass (distressed without resilience)
Distressed unclear — structural issues outweigh the discount.

Opportunity 43/100 (watch), bankability 52/100. 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 (43/100). Current lenders should be on monthly review.

🏦

Refinance opportunity

5 live charges · 4 lenders · oldest 27.4y

25/100
too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

  • · Oldest live charge is 27.4 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 45/100 (high).

Data confidence

Overall: low (46/100)

Sparse data coverage. Treat AI-generated outputs as preliminary. Manual diligence essential.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
13 officers (1 active, 13 linked, 8 with DOB)
82
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
Network not yet resolved
30
Filing history
93 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
43/100Watch
PassWatchWorth a lookStrongExceptional 

Not actionable now, but monitor — distressed, succession, or structural changes could flip this into a real opportunity.

Business quality
10
Concerning — overdue filings or status flags present.
Acquirability
50
Some acquirability indicators.
Risk profile
41
Multiple red flags — proceed with caution.
Signal strength
100
Good data coverage for analysis.

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 (62 events)Click to expand
  1. 2018-05-26
    ⚠️
    gazette-dissolved-liquidation
    gazette · GAZ2
  2. 2018-05-26
    🏁
    Company dissolved
  3. 2018-02-26
    ⚠️
    liquidation-voluntary-members-return-of-final-meeting
    insolvency · LIQ13
  4. 2017-08-01
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  5. 2017-08-01
    🔓
    Charge satisfied #1
  6. 2017-07-12
    ⚠️
    liquidation-voluntary-statement-of-receipts-and-payments-with-brought-down-date
    insolvency · LIQ03
  7. 2017-06-21
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  8. 2017-06-21
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  9. 2017-06-21
    🔓
    Charge satisfied #5
  10. 2017-06-21
    🔓
    Charge satisfied #3
  11. 2016-11-09
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  12. 2016-11-09
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  13. 2016-11-07
    ➖
    BROWN, Alan Duke resigned
    director
  14. 2016-11-07
    ➖
    REID, John Graham Gunn resigned
    director
  15. 2016-07-18
    📄
    resolution
    resolution · RESOLUTIONS
  16. 2016-07-18
    ⚠️
    liquidation-voluntary-declaration-of-solvency
    insolvency · 4.70
  17. 2015-11-10
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  18. 2015-10-06
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  19. 2014-12-30
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  20. 2014-11-11
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  21. 2014-05-01
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  22. 2014-05-01
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  23. 2014-05-01
    🔓
    Charge satisfied #4
  24. 2014-05-01
    🔓
    Charge satisfied #2
  25. 2013-12-31
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  26. 2013-12-23
    📄
    mortgage-create-with-deed-with-charge-number
    mortgage · MR01
  27. 2013-12-18
    🔒
    Charge registered #5
    Lender: Bank of Scotland PLC as Agent and Security Trustee for Each of the Senior Creditors (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01).
  28. 2013-11-08
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  29. 2013-04-09
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  30. 2012-11-09
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  31. 2012-03-29
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  32. 2012-03-02
    📍
    change-registered-office-address-company-with-date-old-address
    address · AD01
  33. 2011-11-09
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  34. 2011-03-25
    📄
    accounts-with-accounts-type-full
    accounts · AA
  35. 2010-06-29
    🔒
    Charge registered #4
    Lender: Bank of Scotland PLC ( the “Security Trustee”)
  36. 2009-12-21
    🔒
    Charge registered #3
    Lender: Bank of Scotland PLC as Agent and Security Trustee for Each of the Senior Creditors (The Security Trustee)
  37. 2009-12-21
    🔒
    Charge registered #2
    Lender: Bank of Scotland PLC as Agent and Security Trustee for Each of the Senior Creditors (The Security Trustee)
  38. 2009-12-16
    ➖
    BALL, Geoffrey Arthur resigned
    director
  39. 2009-12-16
    ➕
    BROWN, Alan Duke appointed
    director
  40. 2009-01-19
    ➖
    CLARK, Peter Herbert resigned
    director
  41. 2006-12-13
    ➖
    DONOGHUE, Alan Victor Middlemist resigned
    director
  42. 2006-09-21
    ➖
    DICK, Robert John Westwater resigned
    director
  43. 2006-09-21
    ➕
    REID, John Graham Gunn appointed
    director
  44. 2006-04-01
    ➕
    LEDGE SERVICES LIMITED appointed
    corporate-secretary
  45. 2006-04-01
    ➖
    LEDINGHAM CHALMERS LLP resigned
    corporate-secretary
  46. 2005-06-13
    ➖
    BROSAMER, Robert resigned
    director
  47. 1999-01-15
    ➖
    FORSTERS SECRETARIES LIMITED resigned
    corporate-secretary
  48. 1999-01-15
    ➕
    BALL, Geoffrey Arthur appointed
    director
  49. 1999-01-15
    ➕
    DICK, Robert John Westwater appointed
    director
  50. 1999-01-15
    🔒
    Charge registered #1
    Lender: Cala Management Limited
Showing most recent 50 of 62 events

Owner dependency

50/100
Moderate — manageable with handover

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

Succession & seller-readiness

40/100
Moderate signal

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

SIGNALS
  • secondaryStable-but-static management: Company is 28 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

2 high · 1 med ·
Company dissolved
high

Company has been dissolved — it no longer legally exists. Any diligence here is historical only.

Evidence: Dissolved on 2018-05-26

4 insolvency-related filings on record
high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2018-05-26: gazette-dissolved-liquidation; 2018-02-26: liquidation-voluntary-members-return-of-final-meeting

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.

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

9 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 →
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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.

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Company details

Statusdissolved
Typeltd
Incorporated1998-11-06
Jurisdictionengland-wales
Primary SIC58290 — Other software publishing

Registered office

Cala House
54 The Causeway
Staines
Surrey
TW18 3AX

Filing status

Accounts
Next due: —
Last made up to: 2015-06-30
Confirmation statement
Next due: —
Last: —

Officers (0 active · 12 resigned)

LEDGE SERVICES LIMITED→
corporate-secretary · appointed 2006-04-01
View their other companies + combined net worth →
Active
FORSTERS SECRETARIES LIMITED→
corporate-secretary · appointed 1998-11-06 · resigned 1999-01-15
Resigned
LEDINGHAM CHALMERS LLP→
corporate-secretary · appointed 1999-01-13 · resigned 2006-04-01
Resigned
TEMPLE SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 1998-11-06 · resigned 1998-11-06
Resigned
BALL, Geoffrey Arthur→
director · ~83y · appointed 1999-01-15 · resigned 2009-12-16
Resigned
BROSAMER, Robert→
director · ~86y · appointed 1999-01-11 · resigned 2005-06-13
Resigned
BROWN, Alan Duke→
director · ~66y · appointed 2009-12-16 · resigned 2016-11-07
Resigned
CLARK, Peter Herbert→
director · ~84y · appointed 1999-01-11 · resigned 2009-01-19
Resigned
DICK, Robert John Westwater→
director · ~71y · appointed 1999-01-15 · resigned 2006-09-21
Resigned
DONOGHUE, Alan Victor Middlemist→
director · ~72y · appointed 1999-01-13 · resigned 2006-12-13
Resigned
REID, John Graham Gunn→
director · ~62y · appointed 2006-09-21 · resigned 2016-11-07
Resigned
SHORT, Jonathan Richard→
director · ~56y · appointed 1998-11-06 · resigned 1999-01-11
Resigned
COMPANY DIRECTORS LIMITED→
corporate-nominee-director · appointed 1998-11-06 · resigned 1998-11-06
Resigned

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

Mortgages & charges

5
Total charges
0
Outstanding
0
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
satisfied
Lloyds Banking Group
Bank of Scotland PLC as Agent and Security Trustee for Each of the Senior Creditors (As Defined in the Instrument Evidencing the Charge Accompanying This Form MR01).
A registered charge—18/12/201321/06/2017
satisfied
Lloyds Banking Group
Bank of Scotland PLC ( the “Security Trustee”)
Debenture1 property29/06/201001/05/2014
satisfied
Lloyds Banking Group
Bank of Scotland PLC as Agent and Security Trustee for Each of the Senior Creditors (The Security Trustee)
Floating charge1 property21/12/200921/06/2017
satisfied
Lloyds Banking Group
Bank of Scotland PLC as Agent and Security Trustee for Each of the Senior Creditors (The Security Trustee)
Debenture1 property21/12/200901/05/2014
satisfied
Cala Management
Cala Management Limited
Debenture1 property15/01/199901/08/2017

Recent filings (93 total)

gazette-dissolved-liquidation
gazette · GAZ2
2018-05-26
liquidation-voluntary-members-return-of-final-meeting
insolvency · LIQ13
2018-02-26
mortgage-satisfy-charge-full
mortgage · MR04
2017-08-01
liquidation-voluntary-statement-of-receipts-and-payments-with-brought-down-date
insolvency · LIQ03
2017-07-12
mortgage-satisfy-charge-full
mortgage · MR04
2017-06-21
mortgage-satisfy-charge-full
mortgage · MR04
2017-06-21
termination-director-company-with-name-termination-date
officers · TM01
2016-11-09
termination-director-company-with-name-termination-date
officers · TM01
2016-11-09
resolution
resolution · RESOLUTIONS
2016-07-18
liquidation-voluntary-declaration-of-solvency
insolvency · 4.70
2016-07-18
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2015-11-10
accounts-with-accounts-type-dormant
accounts · AA
2015-10-06
accounts-with-accounts-type-dormant
accounts · AA
2014-12-30
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2014-11-11
mortgage-satisfy-charge-full
mortgage · MR04
2014-05-01