2ND TIME AROUND LIMITED

🌳Matureactive
05286834 · ltd · incorporated 2004-11-15
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 Mar 2025
Net worth
£6.8k
book net assets
Opportunity
71/100
Strong
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What this business does
Primary activity: Temporary employment agency activities
Sector: Administrative & support services
Investor take
Special-situation opportunity
Distressed professional-services with salvageable qualities — special-situations priority.

Opportunity 71/100 (strong), bankability 67/100. Strong seller-intent signal (75/100, director aged 64). 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 (65/100).

🏦

Refinance opportunity

4 live charges · 3 lenders · oldest 21.1y

15/100
under pressure

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

  • · Oldest live charge is 21.1 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: medium (76/100)

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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
5 officers (3 active, 5 linked, 2 with DOB)
78
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
59 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
71/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
60
Adequate — check latest filings for context.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
59
Some moderate concerns — review 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 £6,761
Net assets shrinking
Down £11,000 YoY
Cash draining
Cash down 65% YoY
Cash YoY
-65%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£7k
↓ 65% YoY
Net Worth
£7k
↓ 62% YoY
Current Assets
—
Current Liabilities
—
£0£4k£8k£12k£16k£20kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£6.8k£17.8k
Cash£6.8k£19.6k
Net assets£6.8k£17.8k

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. 2025-12-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-12-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-12-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2021-12-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-04-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2019-12-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2018-12-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2018-11-10
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  10. 2018-11-10
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  11. 2018-11-10
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  12. 2018-11-10
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2018-11-10
    🔓
    Charge satisfied #4
  14. 2018-11-10
    🔓
    Charge satisfied #3
  15. 2018-11-10
    🔓
    Charge satisfied #2
  16. 2018-11-10
    🔓
    Charge satisfied #1
  17. 2018-10-17
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  18. 2017-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2016-12-06
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  20. 2015-12-10
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  21. 2011-07-05
    🔒
    Charge registered #4
    Lender: Hsbc Bank PLC
  22. 2010-04-09
    🔒
    Charge registered #3
    Lender: Hsbc Invoice Finance (UK) LTD (“the Security Holder”)
  23. 2005-04-14
    🔒
    Charge registered #2
    Lender: Hsbc Invoice Finance (UK) LTD (Security Holder)
  24. 2005-04-07
    🔒
    Charge registered #1
    Lender: Hsbc Bank PLC
  25. 2004-11-15
    🏢
    Company incorporated
    As 2ND TIME AROUND LIMITED
  26. 2004-11-15
    ➕
    MCKENNA, Shirley Evelyn appointed
    secretary
  27. 2004-11-15
    ➕
    MCKENNA, Paul appointed
    director
  28. 2004-11-15
    ➕
    MCKENNA, Shirley Evelyn appointed
    director
  29. 2004-11-15
    ➕
    WATERLOW SECRETARIES LIMITED appointed
    corporate-nominee-secretary
  30. 2004-11-15
    ➖
    WATERLOW SECRETARIES LIMITED resigned
    corporate-nominee-secretary
  31. 2004-11-15
    ➕
    WATERLOW NOMINEES LIMITED appointed
    corporate-nominee-director
  32. 2004-11-15
    ➖
    WATERLOW NOMINEES LIMITED resigned
    corporate-nominee-director

Owner dependency

84/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 22 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

81/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 22 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 22 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 high · 1 med ·
Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2025-11-29

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.

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Paul Mckenna
Individual · British · DOB 07/1964 · age 62
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
Mrs Shirley Evelyn Mckenna
Individual · British · DOB 07/1962 · age 64
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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
Incorporated2004-11-15
Jurisdictionengland-wales
Primary SIC78200 — Temporary employment agency activities

Registered office

The Oval
57 New Walk
Leicester
LE1 7EA
England

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2025-11-29OVERDUE
Last: 2024-11-15

Officers (3 active · 2 resigned)

MCKENNA, Shirley Evelyn→
secretary · appointed 2004-11-15
View their other companies + combined net worth →
Active
MCKENNA, Paul→
director · ~62y · appointed 2004-11-15
View their other companies + combined net worth →
Active
MCKENNA, Shirley Evelyn→
director · ~64y · appointed 2004-11-15
View their other companies + combined net worth →
Active
WATERLOW SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 2004-11-15 · resigned 2004-11-15
Resigned
WATERLOW NOMINEES LIMITED→
corporate-nominee-director · appointed 2004-11-15 · resigned 2004-11-15
Resigned

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

Mortgages & charges

4
Total charges
0
Outstanding
0
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
satisfied
HSBC
Hsbc Bank PLC
Legal assignment1 property05/07/201110/11/2018
satisfied
HSBC
Hsbc Invoice Finance (UK) LTD (“the Security Holder”)
Floating charge (all assets)1 property09/04/201010/11/2018
satisfied
HSBC
Hsbc Invoice Finance (UK) LTD (Security Holder)
Fixed charge on purchased debts which fail to vest1 property14/04/200510/11/2018
satisfied
HSBC
Hsbc Bank PLC
Debenture1 property07/04/200510/11/2018

Recent filings (59 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-31
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-04-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-11-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-12-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-12-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2018-11-24