ADCO PRODUCTS LIMITED

🌳Matureactive

04926986 · ltd · incorporated 2003-10-09

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Sept 2024

Net worth

£-187.9k

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: SIC 17230

Sector: Manufacturing

ALSO REGISTERED FOR

18129SIC 18129

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (65/100, director aged 81). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 9 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

11 live charges · 9 lenders · oldest 22.6y

15/100

under pressure

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

· Oldest live charge is 22.6 years old — likely at or near maturity.
· 9 lenders named — inter-creditor friction likely.
· Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: high (82/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 2 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

13 officers (5 active, 13 linked, 9 with DOB)

Ownership & PSC

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

Director network

9 connected companies via shared directors

Filing history

119 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

80/100Exceptional

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

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 £187,923

Cash draining

Cash down 67% YoY

Cash YoY

-67%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£57k

↓ 67% YoY

Net Worth

-£188k

↑ 77% YoY

Current Assets

£1.3m

↑ 7.7% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-09-30	2023-09-30
Total assets	£389.7k	£180.1k
Current assets	£1.28M	£1.19M
Cash	£56.9k	£172.6k
Debtors	£1.03M	£831.7k
Net assets	£-187.9k	£-803.9k

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

filings

Last 90 days

filings

Last 180 days

filings

Counts from Companies House filing history.

Corporate timeline (63 events)Click to expand

2025-06-30
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-02-17
📄
second-filing-of-director-appointment-with-name
officers · RP04AP01
2024-06-24
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-05-22
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-10-16
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2023-10-16
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-10-16
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2023-10-06
➕
SMITH, Howard Martin appointed
secretary
2023-10-06
➖
FLETCHER, David Ian resigned
secretary
2023-10-06
➖
FLETCHER, David Ian resigned
director
2023-06-30
📄
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-04-17
📄
change-person-director-company-with-change-date
officers · CH01
2023-04-17
📄
change-person-director-company-with-change-date
officers · CH01
2023-04-17
📄
change-person-director-company-with-change-date
officers · CH01
2023-04-17
📄
change-person-director-company-with-change-date
officers · CH01
2023-04-17
📄
change-person-director-company-with-change-date
officers · CH01
2023-04-17
📄
change-person-director-company-with-change-date
officers · CH01
2023-04-14
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-06-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-06-07
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-05-27
➖
MAXTED, Scott resigned
director
2021-09-24
📄
change-person-director-company-with-change-date
officers · CH01
2021-07-22
📄
change-person-director-company-with-change-date
officers · CH01
2021-07-20
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2021-04-07
➕
MAXTED, Scott appointed
director
2020-01-23
➕
DOWNIE, Gavin appointed
director
2019-03-15
🔓
Charge satisfied #10
2019-03-15
🔓
Charge satisfied #9
2019-03-15
🔓
Charge satisfied #8
2019-03-15
🔓
Charge satisfied #7
2019-01-31
➖
LOWE, Paul Joseph resigned
director
2019-01-09
➕
CHRISTIAN, David Patrick Kingston appointed
director
2018-12-31
➕
BROWN, Richard James appointed
director
2018-12-31
➖
LOWE, Jane Christine resigned
director
2018-12-31
➖
SMITH, Katie Louise resigned
director
2018-12-19
🔒
Charge registered #11
Lender: Bibby Financial Services LTD (As Security Trustee)
2018-07-31
🔒
Charge registered #10
Lender: National Westminster Bank PLC
2016-10-26
🔓
Charge satisfied #6
2015-09-25
🔒
Charge registered #9
Lender: Five Arrows Business Finance PLC
2015-09-25
🔒
Charge registered #8
Lender: Five Arrows Business Finance PLC
2015-07-07
🔓
Charge satisfied #3
2014-11-05
➕
LOWE, Jane Christine appointed
director
2014-11-05
➕
LOWE, Paul Joseph appointed
director
2014-11-05
➕
SMITH, Katie Louise appointed
director
2008-08-06
🔓
Charge satisfied #5
2008-08-06
🔓
Charge satisfied #4
2008-07-10
🔒
Charge registered #7
Lender: Rbs Invoice Finance Limited
2008-06-27
🔒
Charge registered #6
Lender: National Westminster Bank PLC
2005-09-08
🔓
Charge satisfied #2
2005-09-08
🔓
Charge satisfied #1

Showing most recent 50 of 63 events

Owner dependency

65/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

-4 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 23 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 81 — succession pressure is live.

Succession & seller-readiness

80/100

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 81 years old. Natural succession window is now.
primary20+ year tenure: Director in role 23 years. Very long tenure is a classic succession signal.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

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

Woodpecker Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Woodpecker Ltd

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

ADCO PRODUCTS LIMITED

This company · 04926986

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
Woodpecker Ltd Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	20/09/2019

1 historic (ceased) PSC

Mr Paul Joseph Loweceased 31/12/2018· 25-50% shares · 25-50% voting · board control

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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ABB CABLE MANAGEMENT PRODUCTS LIMITED→ 00675001 · est 1960 · no financials extracted	—	—	—	—	65y	—	—
ACTIKEM LTD→ 04577937 · est 2002 · no financials extracted	—	—	—	—	23y	—	—
ADAPTIVE ARTS LTD→ 15686132 · est 2024 · no financials extracted	—	—	—	—	1y	—	—
ADD MOBILITY LTD→ 14042226 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
ADM DESIGN CARPENTER SERVICE LTD→ 15283366 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
ADMAINPLAY LIMITED→ 11984561 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
ADVANCED BIOTECHNOLOGIES LIMITED→ 02456077 · est 1989 · no financials extracted	—	—	—	—	36y	—	—
ADVANCED STEAM TRACTION SERVICES LTD→ 09210668 · est 2014 · no financials extracted	—	—	—	—	11y	—	—
ADVANCED STEAM TRACTION TRUST→ 09086052 · est 2014 · no financials extracted	—	—	—	—	11y	—	—
AERO BILLIONAIRE LIMITED→ 14382398 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
AEROTECH SOUTH WEST LTD→ 09017344 · est 2014 · no financials extracted	—	—	—	—	11y	—	—

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

Incorporated2003-10-09

Jurisdictionengland-wales

Primary SIC17230 — SIC 17230

Registered office

207 Knutsford Road Grappenhall

Warrington

Cheshire

WA4 2QL

England

Filing status

Accounts

Next due: 2026-06-30

Last made up to: 2024-09-30

Confirmation statement

Next due: 2026-10-09

Last: 2025-09-25