AT SOURCE QX LIMITED

💤Zombieactive
03865820 · ltd · incorporated 1999-10-26
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 Apr 2025
Net worth
£300.2k
book net assets
Opportunity
82/100
Exceptional
🔔
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What this business does
Primary activity: Other manufacturing n.e.c.
Sector: Manufacturing
Investor take
Pursue
Strong opportunity: active trading company with exceptional profile and bankable structure.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 59). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -51% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 25.6y

45/100
under pressure

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

  • · Oldest live charge is 25.6 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (79/100)

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
8 officers (2 active, 8 linked, 4 with DOB)
80
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
77 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
PassWatchWorth a lookStrongExceptional 

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
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 £300,158
Cash draining
Cash down 51% YoY
Cash YoY
-51%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£67k
↓ 51% YoY
Net Worth
£300k
↑ 15% YoY
Current Assets
£506k
↑ 2.2% YoY
Current Liabilities
—
£0£101k£202k£303k£405k£506kApr 2024Apr 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-04-302024-04-30
Total assets£324.2k£290.2k
Current assets£505.8k£495.1k
Cash£67.1k£136.6k
Debtors£270.0k£157.1k
Net assets£300.2k£260.5k

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
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (32 events)Click to expand
  1. 2025-12-09
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2024-12-02
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2023-11-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2023-11-09
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  5. 2023-10-05
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  6. 2022-10-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2021-10-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-03-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2020-12-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  10. 2020-12-01
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  11. 2020-12-01
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  12. 2020-11-30
    ➖
    WHITAKER, Michael Alastair resigned
    director
  13. 2019-07-08
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2018-12-21
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2018-03-22
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  16. 2017-11-06
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  17. 2017-09-22
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  18. 2002-07-31
    ➖
    BROOK, Alexander Stuart Marshall resigned
    director
  19. 2001-10-25
    ➕
    BROOK, Alexander Stuart Marshall appointed
    director
  20. 2000-11-01
    🔒
    Charge registered #1
    Lender: National Westminster Bank PLC
  21. 2000-04-28
    ➕
    POTTER, Richard Charles Sutton appointed
    secretary
  22. 2000-04-28
    ➕
    POTTER, Richard Charles Sutton appointed
    director
  23. 2000-04-28
    ➖
    BRADLEY, Jon resigned
    secretary
  24. 2000-04-28
    ➖
    BRADLEY, Jon resigned
    director
  25. 1999-10-26
    🏢
    Company incorporated
    As AT SOURCE QX LIMITED
  26. 1999-10-26
    ➕
    BRADLEY, Jon appointed
    secretary
  27. 1999-10-26
    ➕
    LONDON LAW SECRETARIAL LIMITED appointed
    corporate-nominee-secretary
  28. 1999-10-26
    ➖
    LONDON LAW SECRETARIAL LIMITED resigned
    corporate-nominee-secretary
  29. 1999-10-26
    ➕
    BRADLEY, Jon appointed
    director
  30. 1999-10-26
    ➕
    WHITAKER, Michael Alastair appointed
    director
  31. 1999-10-26
    ➕
    LONDON LAW SERVICES LIMITED appointed
    corporate-nominee-director
  32. 1999-10-26
    ➖
    LONDON LAW 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 26 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

85/100
Likely off-market candidate

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 26 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 27 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Richard Charles Sutton Potter
Individual · British · DOB 11/1967 · age 59
50–75%
50–75%board control50-75% shares · 50-75% voting · board control01/05/2016
Mrs Lisa Potter
Individual · British · DOB 06/1953 · age 73
25–50%
—25-50% shares30/11/2020
1 historic (ceased) PSC
  • Mr Michael Alastair Whitakerceased 30/11/2020· 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
Incorporated1999-10-26
Jurisdictionengland-wales
Primary SIC32990 — Other manufacturing n.e.c.

Registered office

18 Eve Street
Louth
Lincolnshire
LN11 0JJ

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2026-11-09
Last: 2025-10-26

Officers (2 active · 6 resigned)

POTTER, Richard Charles Sutton→
secretary · appointed 2000-04-28
View their other companies + combined net worth →
Active
POTTER, Richard Charles Sutton→
director · ~59y · appointed 2000-04-28
View their other companies + combined net worth →
Active
BRADLEY, Jon→
secretary · appointed 1999-10-26 · resigned 2000-04-28
Resigned
LONDON LAW SECRETARIAL LIMITED→
corporate-nominee-secretary · appointed 1999-10-26 · resigned 1999-10-26
Resigned
BRADLEY, Jon→
director · ~70y · appointed 1999-10-26 · resigned 2000-04-28
Resigned
BROOK, Alexander Stuart Marshall→
director · ~52y · appointed 2001-10-25 · resigned 2002-07-31
Resigned
WHITAKER, Michael Alastair→
director · ~69y · appointed 1999-10-26 · resigned 2020-11-30
Resigned
LONDON LAW SERVICES LIMITED→
corporate-nominee-director · appointed 1999-10-26 · resigned 1999-10-26
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
National Westminster Bank
National Westminster Bank PLC
Mortgage debenture1 property01/11/2000—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (77 total)

accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-12-09
confirmation-statement-with-updates
confirmation-statement · CS01
2025-10-29
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-12-02
confirmation-statement-with-updates
confirmation-statement · CS01
2024-11-07
confirmation-statement-with-updates
confirmation-statement · CS01
2023-11-15
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-11-10
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-11-09
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-10-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-11-01
accounts-with-accounts-type-micro-entity
accounts · AA
2022-10-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-10
accounts-with-accounts-type-micro-entity
accounts · AA
2021-10-27
accounts-with-accounts-type-micro-entity
accounts · AA
2021-03-19
confirmation-statement-with-updates
confirmation-statement · CS01
2021-01-05
termination-director-company-with-name-termination-date
officers · TM01
2020-12-01