ADRIAN THOMAS LIMITED
Opportunity 70/100 (strong), bankability 67/100. High owner-dependency — earn-out structure likely required for clean transition. 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 (58/100).
Refinance opportunity
5 live charges · 3 lenders · oldest 22.4y
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 22.4 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (72/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredKey financials
1 year extracted from filed iXBRL accountsFinancials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-09-30 |
|---|---|
| Total assets | £133.8k |
| Current assets | £464.8k |
| Net assets | £133.8k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
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
- • 3 officers
- • 2 accounts
- • 2 mortgage
- • 5 mortgage
- • 3 officers
- • 2 accounts
- • 5 mortgage
- • 3 officers
- • 2 accounts
Corporate timeline (41 events)Click to expand
- 2026-05-20➖THOMAS, Adrian resigneddirector
- 2026-05-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-05-18📄accounts-amended-with-accounts-type-micro-entityaccounts · AAMD
- 2026-05-18📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-05-18📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-05-11➕BABARIYA, Nilesh Dhirubhai appointeddirector
- 2026-05-11➖HEATLEY, Emma resignedsecretary
- 2026-05-11📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2026-05-11📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2026-05-11📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2026-05-11📄appoint-person-director-company-with-name-dateofficers · AP01
- 2026-05-11🔒Charge registered #5Lender: Lloyds Bank PLC
- 2026-05-11🔒Charge registered #4Lender: Lloyds Bank PLC
- 2026-04-27📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2026-04-21📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-04-21📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-04-21📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-04-21🔓Charge satisfied #3
- 2026-04-21🔓Charge satisfied #2
- 2026-04-21🔓Charge satisfied #1
- 2025-06-17📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-06-06📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-10-18📄appoint-person-secretary-company-with-name-dateofficers · AP03
- 2023-10-18📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2023-10-16➕HEATLEY, Emma appointedsecretary
- 2023-10-01➖GIBBS, Lisa resignedsecretary
- 2023-06-30📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-05-20📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-02-25📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2014-03-05➕GIBBS, Lisa appointedsecretary
- 2014-03-05➖THOMAS, Karen Lynne resignedsecretary
- 2011-05-16🔒Charge registered #3Lender: Rbs Invoice Finance Limited
- 2005-01-24🔒Charge registered #2Lender: National Westminster Bank PLC
- 2003-12-15🔒Charge registered #1Lender: National Westminster Bank PLC
- 2003-10-20➕THOMAS, Karen Lynne appointedsecretary
- 2003-10-20➖SECRETARIAL APPOINTMENTS LIMITED resignedcorporate-nominee-secretary
- 2003-10-20➕THOMAS, Adrian appointeddirector
- 2003-10-20➖CORPORATE APPOINTMENTS LIMITED resignedcorporate-nominee-director
- 2003-10-06🏢Company incorporatedAs ADRIAN THOMAS LIMITED
- 2003-10-06➕SECRETARIAL APPOINTMENTS LIMITED appointedcorporate-nominee-secretary
- 2003-10-06➕CORPORATE APPOINTMENTS LIMITED appointedcorporate-nominee-director
Owner dependency
Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
- +Sole director: Only one active director — all governance concentrated on one person.
Succession & seller-readiness
Some succession indicators present. Worth watching; approach if sector/strategy fits.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
2 med ·Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.
Evidence: HEATLEY, Emma resigned 2026-05-11; THOMAS, Adrian resigned 2026-05-20
Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Vinayak Pharma Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.
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%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Vinayak Pharma Ltd Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 11/05/2026 |
1 historic (ceased) PSC
- Mr Adrian Thomasceased 11/05/2026· 75-100% shares
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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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|---|---|---|---|---|---|---|---|
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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 →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
Registered office
Filing status
Officers (1 active · 6 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Lloyds Bank PLC | A registered charge | — | 11/05/2026 | — | |
| outstanding | Lloyds Banking Group Lloyds Bank PLC | A registered charge | — | 11/05/2026 | — | |
| satisfied | NatWest Group Rbs Invoice Finance Limited | All assets debenture | 1 property | 16/05/2011 | 21/04/2026 | |
| satisfied | National Westminster Bank National Westminster Bank PLC | Legal charge | 1 property | 24/01/2005 | 21/04/2026 | |
| satisfied | National Westminster Bank National Westminster Bank PLC | Debenture | 1 property | 15/12/2003 | 21/04/2026 |