D L SPENCER & COMPANY LIMITED

💤Zombieactive
04411003 · ltd · incorporated 2002-04-08
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
£-28.7k
book net assets
Opportunity
77/100
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: Non-specialised wholesale trade
Sector: Wholesale & retail
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 77/100 (strong), bankability 67/100. Strong seller-intent signal (78/100, director aged 72). 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 18.0y

15/100
under pressure

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

  • · Oldest live charge is 18.0 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (80/100)

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
7 officers (1 active, 7 linked, 4 with DOB)
81
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
5 connected companies via shared directors
60
Filing history
81 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
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 · accounting standard not declared
Negative net assets
Liabilities exceed assets by £28,695
Very low cash
Cash position: £0
Cash draining
Cash down 100% YoY
Cash YoY
-100%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£0
↓ 100% YoY
Net Worth
-£29k
~ YoY
Current Assets
—
Current Liabilities
—
-£29k-£8k£13k£34k£55k£76kApr 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—£-28.7k
Current assets—£75.8k
Cash£0£15.4k
Debtors—£60.4k
Net assets£-28.7k£-28.7k

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
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (36 events)Click to expand
  1. 2026-03-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-07-16
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  3. 2025-02-05
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  4. 2025-02-05
    🔓
    Charge satisfied #1
  5. 2024-10-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-10-04
    ➕
    PURDIE, David Charles appointed
    director
  7. 2023-10-04
    ➖
    SPENCER, David Lindsay resigned
    director
  8. 2023-10-04
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  9. 2023-10-04
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  10. 2023-10-04
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  11. 2023-10-04
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  12. 2023-10-04
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  13. 2023-10-03
    ➖
    SPENCER, Zoe Jane resigned
    secretary
  14. 2023-09-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2023-07-12
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  16. 2023-07-12
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  17. 2023-01-06
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2022-01-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2021-01-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2020-01-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2019-01-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  22. 2011-08-15
    ➖
    NOWLAN, Christopher John resigned
    director
  23. 2010-12-03
    🔓
    Charge satisfied #2
  24. 2010-09-27
    🔒
    Charge registered #3
    Lender: Scottish Widows Trustees LTD, D Spencer, C Nowlan and a Powles as Trustees of the D L Spencer & Co LTD Rbs
  25. 2010-05-07
    ➖
    DAVIS, Raymond John resigned
    director
  26. 2010-03-18
    ➕
    DAVIS, Raymond John appointed
    director
  27. 2008-11-21
    🔒
    Charge registered #2
    Lender: Lloyds Tsb Commercial Finance Limited
  28. 2008-06-04
    🔒
    Charge registered #1
    Lender: Lloyds Tsb Bank PLC
  29. 2008-05-29
    ➕
    NOWLAN, Christopher John appointed
    director
  30. 2002-04-08
    🏢
    Company incorporated
    As D L SPENCER & COMPANY LIMITED
  31. 2002-04-08
    ➕
    SPENCER, Zoe Jane appointed
    secretary
  32. 2002-04-08
    ➕
    NOMINEE COMPANY SECRETARIES LIMITED appointed
    corporate-nominee-secretary
  33. 2002-04-08
    ➖
    NOMINEE COMPANY SECRETARIES LIMITED resigned
    corporate-nominee-secretary
  34. 2002-04-08
    ➕
    SPENCER, David Lindsay appointed
    director
  35. 2002-04-08
    ➕
    NOMINEE COMPANY DIRECTORS LIMITED appointed
    corporate-nominee-director
  36. 2002-04-08
    ➖
    NOMINEE COMPANY DIRECTORS LIMITED resigned
    corporate-nominee-director

Owner dependency

90/100
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.
  • +Founder age: Director aged approximately 72 — succession pressure is live.

Succession & seller-readiness

75/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 72 years old. Natural succession window is now.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

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

Allsop & Pitts Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Allsop & Pitts Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
D L SPENCER & COMPANY LIMITED
This company · 04411003

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
Allsop & Pitts Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control02/10/2023
2 historic (ceased) PSCs
  • Mr David Lindsay Spencerceased 02/10/2023· 75-100% shares · 75-100% voting · board control
  • Mr Christopher Nowlanceased 10/05/2021· 25-50% shares · 25-50% voting

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 →

Similar companies

Active · Wholesale & distribution · TQ postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
A & T ANIMATIONS LTD→
12132242 · est 2019 · no financials extracted
————6y——
AASALES17 LTD→
16197500 · est 2025 · no financials extracted
————1y——
BRIXHAM SEAFOOD LIMITED→
15090966 · est 2023 · no financials extracted
————2y——
CHELSTON HOLDINGS LIMITED→
15090211 · est 2023 · no financials extracted
————2y——
COFFEE COUTURE WHOLESALE LIMITED→
10234390 · est 2016 · no financials extracted
————9y——
COFFEE WEST LIMITED→
09330062 · est 2014 · no financials extracted
————11y——
COMPACFOAM UK LIMITED→
15256477 · est 2023 · no financials extracted
————2y——
CORAL AND MINT LTD→
12821317 · est 2020 · no financials extracted
————5y——
CPG BOULEVARD LIMITED→
15555207 · est 2024 · no financials extracted
————2y——
CRAG MARTIN LIMITED→
16141768 · est 2024 · no financials extracted
————1y——
D & M LANGDON LIMITED→
10473807 · est 2016 · no financials extracted
————9y——
D W J METALS LIMITED→
05724362 · est 2006 · no financials extracted
————20y——
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

8 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
Incorporated2002-04-08
Jurisdictionengland-wales
Primary SIC46900 — Non-specialised wholesale trade

Registered office

102 Barton Road
Torquay
Devon
TQ2 7NY
England

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2026-07-26
Last: 2025-07-12

Officers (1 active · 6 resigned)

PURDIE, David Charles→
director · ~72y · appointed 2023-10-04
View their other companies + combined net worth →
Active
SPENCER, Zoe Jane→
secretary · appointed 2002-04-08 · resigned 2023-10-03
Resigned
NOMINEE COMPANY SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 2002-04-08 · resigned 2002-04-08
Resigned
DAVIS, Raymond John→
director · ~75y · appointed 2010-03-18 · resigned 2010-05-07
Resigned
NOWLAN, Christopher John→
director · ~68y · appointed 2008-05-29 · resigned 2011-08-15
Resigned
SPENCER, David Lindsay→
director · ~68y · appointed 2002-04-08 · resigned 2023-10-04
Resigned
NOMINEE COMPANY DIRECTORS LIMITED→
corporate-nominee-director · appointed 2002-04-08 · resigned 2002-04-08
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
NatWest Group
Scottish Widows Trustees LTD, D Spencer, C Nowlan and a Powles as Trustees of the D L Spencer & Co LTD Rbs
Debenture1 property27/09/2010—
satisfied
Lloyds Banking Group
Lloyds Tsb Commercial Finance Limited
All assets debenture1 property21/11/200803/12/2010
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
Debenture1 property04/06/200805/02/2025
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (81 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-31
confirmation-statement-with-updates
confirmation-statement · CS01
2025-07-16
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-07-16
mortgage-satisfy-charge-full
mortgage · MR04
2025-02-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-17
confirmation-statement-with-updates
confirmation-statement · CS01
2024-07-15
termination-director-company-with-name-termination-date
officers · TM01
2023-10-04
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-10-04
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-04
termination-secretary-company-with-name-termination-date
officers · TM02
2023-10-04
appoint-person-director-company-with-name-date
officers · AP01
2023-10-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-18
confirmation-statement-with-updates
confirmation-statement · CS01
2023-07-12
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-07-12
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-07-12