APPLIANCE DIRECT (MORECAMBE) LIMITED

⚰️Wound downliquidation

04546333 · ltd · incorporated 2002-09-26

Investment thesis

Company liquidation — not a live target.

Why interesting: Historical record only; useful for precedent research.

Why risky: Not transactable.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Sept 2025

Net worth

—

book net assets

Opportunity

45/100

Watch

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What this business does

Primary activity: Retail sale of electrical household appliances in specialised stores

Sector: Wholesale & retail

Investor take

Pass (distressed without resilience)

Distressed unclear — structural issues outweigh the discount.

Opportunity 45/100 (watch), bankability 50/100. High owner-dependency — earn-out structure likely required for clean transition. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Resolve: Company in liquidation. Company is actively being wound up. Not a going concern. Most likely exit: distressed disposal / insolvency (65/100). Current lenders should be on monthly review.

🏦

Refinance opportunity

11 live charges · 2 lenders · oldest 19.8y

40/100

too messy

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

· Oldest live charge is 19.8 years old — likely at or near maturity.
· Two lenders — manageable, but coordination required.
· Legal-friction score 50/100 (high).

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

Lenders & charges

11 charges (11/11 with lender, 11/11 with type)

Directors & officers

8 officers (2 active, 8 linked, 4 with DOB)

Ownership & PSC

2 active PSC(s) of 2 total, 2 with control declared

Director network

1 connected companies via shared directors

Filing history

105 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

45/100Watch

PassWatchWorth a lookStrongExceptional

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

Business quality

Concerning — overdue filings or status flags present.

Acquirability

Some acquirability indicators.

Risk profile

Multiple red flags — proceed with caution.

Signal strength

100

Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-09-30	2024-09-30
Average employees	13	1300

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

filings

• 2 insolvency
• 1 address
• 1 resolution

Last 90 days

filings

• 2 insolvency
• 1 address
• 1 resolution

Last 180 days

filings

• 2 insolvency
• 1 address
• 1 resolution

Counts from Companies House filing history.

Corporate timeline (58 events)Click to expand

2026-06-03
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-06-03
⚠️
liquidation-voluntary-appointment-of-liquidator
insolvency · 600
2026-06-03
📄
resolution
resolution · RESOLUTIONS
2026-06-03
⚠️
liquidation-voluntary-statement-of-affairs
insolvency · LIQ02
2026-02-10
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-25
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-21
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-29
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-01-29
🔓
Charge satisfied #11
2023-10-05
➖
PICKERING, James resigned
director
2023-10-05
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-09-29
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-05-11
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-11
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-11
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-11
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-11
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-11
🔓
Charge satisfied #10
2023-05-11
🔓
Charge satisfied #9
2023-05-11
🔓
Charge satisfied #7
2023-05-11
🔓
Charge satisfied #6
2023-05-11
🔓
Charge satisfied #3
2023-03-16
📄
change-person-director-company-with-change-date
officers · CH01
2023-03-16
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-01-11
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-03
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2023-01-03
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-01-03
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2022-12-30
➕
PICKERING, Paul James appointed
secretary
2022-12-30
➖
PICKERING, Patricia Anne resigned
secretary
2022-12-30
➖
PICKERING, Patricia Anne resigned
director
2022-09-27
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-02-08
➖
PICKERING, Kelly resigned
director
2019-03-29
🔒
Charge registered #11
Lender: National Westminster Bank PLC
2018-09-26
🔓
Charge satisfied #4
2017-05-25
🔒
Charge registered #10
Lender: National Westminster Bank PLC
2017-05-25
🔒
Charge registered #9
Lender: National Westminster Bank PLC
2014-03-01
🔓
Charge satisfied #5
2014-03-01
🔓
Charge satisfied #2
2014-03-01
🔓
Charge satisfied #1
2012-03-01
🔒
Charge registered #8
Lender: National Westminster Bank PLC
2010-03-24
➕
PICKERING, James appointed
director
2010-03-24
➕
PICKERING, Patricia Anne appointed
director
2010-01-22
🔒
Charge registered #7
Lender: National Westminster Bank PLC
2010-01-22
🔒
Charge registered #6
Lender: National Westminster Bank PLC
2008-05-01
🔒
Charge registered #5
Lender: Furness Building Society
2008-05-01
🔒
Charge registered #4
Lender: Furness Building Society
2007-02-16
🔒
Charge registered #3
Lender: Furness Building Society
2007-01-31
➕
PICKERING, Kelly appointed
director
2006-09-07
🔒
Charge registered #2
Lender: Furness Building Society

Showing most recent 50 of 58 events

Owner dependency

85/100

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 24 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

75/100

Likely off-market candidate

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

SIGNALS

primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 24 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

2 high · 1 med ·

Company in liquidation

high

Company is actively being wound up. Not a going concern.

2 insolvency-related filings on record

high

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

Evidence: 2026-06-03: liquidation-voluntary-appointment-of-liquidator; 2026-06-03: liquidation-voluntary-statement-of-affairs

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

Ppkp Holdings Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Ppkp Holdings Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

APPLIANCE DIRECT (MORECAMBE) LIMITED

This company · 04546333

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Ppkp Holdings Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	12/01/2019
Mr Paul James Pickering Individual · British · DOB 06/1976 · age 50	—	—	sig. influencesignificant influence	26/09/2016

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

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A&J BUTTERFLY LTD→ 14774700 · est 2023 · no financials extracted	—	—	—	—	3y	—	—
ADORABLE LIFESTYLE LIMITED→ 12613179 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
AG BUSINESS GROUP LTD→ 15448485 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
AGK NIAZI LIMITED→ 15628213 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
AHEED FOOD CENTRE LIMITED→ 10805905 · est 2017 · no financials extracted	—	—	—	—	8y	—	—
AIRPORT VEHICLE SERVICES LIMITED→ 07857360 · est 2011 · no financials extracted	—	—	—	—	14y	—	—
AJ ASSOCIATES LTD→ 09921627 · est 2015 · no financials extracted	—	—	—	—	10y	—	—
AJHS SERVICES LIMITED→ 15695460 · est 2024 · no financials extracted	—	—	—	—	1y	—	—
AJO HOLDING LTD→ 12125027 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
AKN JEWELLERY LTD→ 10461436 · est 2016 · no financials extracted	—	—	—	—	9y	—	—
AKR BUSINESS CONSULTING LIMITED→ 14752723 · est 2023 · no financials extracted	—	—	—	—	3y	—	—
AL BARAKAH MK FOODS LTD→ 15992789 · est 2024 · no financials extracted	—	—	—	—	1y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

10 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

Statusliquidation

Typeltd

Incorporated2002-09-26

Jurisdictionengland-wales

Primary SIC47540 — Retail sale of electrical household appliances in specialised stores

Registered office

C/O OPUS RESTRUCTURING LLP

1 Radian Court Knowlhill

Milton Keynes

Buckinghamshire

MK5 8PJ

Filing status

Accounts

Next due: 2027-06-30

Last made up to: 2025-09-30

Confirmation statement

Next due: 2026-10-10

Last: 2025-09-26

Officers (2 active · 6 resigned)

PICKERING, Paul James→

secretary · appointed 2022-12-30

View their other companies + combined net worth →

Active

PICKERING, Paul James→

director · ~50y · appointed 2002-11-18

View their other companies + combined net worth →

Active

BROWN, David→

secretary · appointed 2002-09-26 · resigned 2002-11-18

Resigned

PICKERING, Patricia Anne→

secretary · appointed 2002-11-18 · resigned 2022-12-30

Resigned

PICKERING, James→

director · ~76y · appointed 2010-03-24 · resigned 2023-10-05

Resigned

PICKERING, Kelly→

director · ~51y · appointed 2007-01-31 · resigned 2022-02-08

Resigned

PICKERING, Patricia Anne→

director · ~78y · appointed 2010-03-24 · resigned 2022-12-30

Resigned

COFORM LIMITED→

corporate-director · appointed 2002-09-26 · resigned 2002-11-18

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:11 of 11 shown

		Type	Properties
satisfied	National Westminster Bank National Westminster Bank PLC	A registered charge	1 property	29/03/2019	29/01/2024
satisfied	National Westminster Bank National Westminster Bank PLC	A registered charge	1 property	25/05/2017	11/05/2023
satisfied	National Westminster Bank National Westminster Bank PLC	A registered charge	1 property	25/05/2017	11/05/2023
outstanding	National Westminster Bank National Westminster Bank PLC	Debenture	1 property	01/03/2012	—
satisfied	National Westminster Bank National Westminster Bank PLC	Legal charge	1 property	22/01/2010	11/05/2023
satisfied	National Westminster Bank National Westminster Bank PLC	Legal charge	1 property	22/01/2010	11/05/2023
satisfied	Furness Building Society	Legal charge	1 property	01/05/2008	01/03/2014
satisfied	Furness Building Society	Legal charge	1 property	01/05/2008	26/09/2018
satisfied	Furness Building Society	Legal charge	1 property	16/02/2007	11/05/2023
satisfied	Furness Building Society	Legal charge	1 property	07/09/2006	01/03/2014
satisfied	Furness Building Society	Legal charge	1 property	25/08/2006	01/03/2014

Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (105 total)

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2026-06-03

liquidation-voluntary-appointment-of-liquidator

insolvency · 600

2026-06-03

resolution

resolution · RESOLUTIONS

2026-06-03

liquidation-voluntary-statement-of-affairs

insolvency · LIQ02

2026-06-03

accounts-with-accounts-type-total-exemption-full

accounts · AA

2026-02-10

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-09-30

accounts-with-accounts-type-total-exemption-full

accounts · AA

2025-02-25

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-09-26

accounts-with-accounts-type-total-exemption-full

accounts · AA

2024-02-21

mortgage-satisfy-charge-full

mortgage · MR04

2024-01-29

termination-director-company-with-name-termination-date

officers · TM01

2023-10-05

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-09-29

change-to-a-person-with-significant-control

persons-with-significant-control · PSC05

2023-09-29

mortgage-satisfy-charge-full

mortgage · MR04

2023-05-11

mortgage-satisfy-charge-full

mortgage · MR04

2023-05-11