1ST LETTINGS PROPERTY SERVICES LIMITED

💤Zombieactive
05417335 · ltd · incorporated 2005-04-07
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
£250.1k
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: Management of real estate on a fee or contract basis
Sector: Real estate
Investor take
Pursue
Property-backed borrower with a 64-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 75/100. Strong seller-intent signal (80/100, director aged 64). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 20.5y

30/100
under pressure

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

  • · Oldest live charge is 20.5 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

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
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
6 officers (1 active, 6 linked, 3 with DOB)
80
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
92 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
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
Positive net assets
Net assets £250,093
Net assets shrinking
Down £484 YoY
Cash YoY
+0%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£399k
~ YoY
Net Worth
£250k
~ YoY
Current Assets
£1.0m
↑ 11% YoY
Current Liabilities
—
£0£207k£413k£620k£826k£1.0mApr 2024Apr 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-04-292024-04-29
Total assets£254.6k£266.6k
Current assets£1.03M£928.8k
Cash£398.8k£398.3k
Debtors£633.9k£530.5k
Net assets£250.1k£250.6k

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 (34 events)Click to expand
  1. 2026-01-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-01-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-01-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-01-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-08-11
    📄
    second-filing-of-confirmation-statement-with-made-up-date
    confirmation-statement · RP04CS01
  6. 2022-08-10
    📄
    capital-allotment-shares
    capital · SH01
  7. 2022-03-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-03-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2020-06-15
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  10. 2020-06-15
    📄
    change-person-director-company-with-change-date
    officers · CH01
  11. 2020-01-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2019-04-29
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  13. 2019-01-31
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  14. 2017-10-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2017-08-11
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  16. 2017-08-11
    🔓
    Charge satisfied #3
  17. 2017-08-11
    🔓
    Charge satisfied #1
  18. 2014-10-02
    ➖
    SULLIVAN, Patrick Alan resigned
    secretary
  19. 2014-10-02
    ➖
    SULLIVAN, Patrick Alan resigned
    director
  20. 2010-09-02
    ➖
    CAMPBELL, Mark resigned
    director
  21. 2008-01-11
    🔒
    Charge registered #4
    Lender: Barclays Bank PLC
  22. 2007-03-16
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  23. 2007-03-14
    🔓
    Charge satisfied #2
  24. 2006-09-21
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  25. 2006-01-18
    ➕
    CAMPBELL, Mark appointed
    director
  26. 2005-11-11
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  27. 2005-04-07
    🏢
    Company incorporated
    As 1ST LETTINGS PROPERTY SERVICES LIMITED
  28. 2005-04-07
    ➕
    BAJWA, Surinderpal Singh appointed
    director
  29. 2005-04-07
    ➕
    SULLIVAN, Patrick Alan appointed
    secretary
  30. 2005-04-07
    ➕
    CREDITREFORM (SECRETARIES) LIMITED appointed
    corporate-secretary
  31. 2005-04-07
    ➖
    CREDITREFORM (SECRETARIES) LIMITED resigned
    corporate-secretary
  32. 2005-04-07
    ➕
    SULLIVAN, Patrick Alan appointed
    director
  33. 2005-04-07
    ➕
    CREDITREFORM LIMITED appointed
    corporate-director
  34. 2005-04-07
    ➖
    CREDITREFORM LIMITED resigned
    corporate-director

Owner dependency

93/100
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 21 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

95/100
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.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 21 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 21 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

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.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Surinderpal Singh Bajwa
Individual · British · DOB 02/1962 · age 64
75–100%
75–100%board control75-100% shares · 75-100% voting · board control08/04/2016

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 →

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101 PROPCO LIMITED→
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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
Incorporated2005-04-07
Jurisdictionengland-wales
Primary SIC68320 — Management of real estate on a fee or contract basis

Registered office

95 Allesley Old Road
Coventry
CV5 8DB
England

Filing status

Accounts
Next due: 2027-01-29
Last made up to: 2025-04-29
Confirmation statement
Next due: 2026-10-27
Last: 2025-10-13

Officers (1 active · 5 resigned)

BAJWA, Surinderpal Singh→
director · ~64y · appointed 2005-04-07
View their other companies + combined net worth →
Active
SULLIVAN, Patrick Alan→
secretary · appointed 2005-04-07 · resigned 2014-10-02
Resigned
CREDITREFORM (SECRETARIES) LIMITED→
corporate-secretary · appointed 2005-04-07 · resigned 2005-04-07
Resigned
CAMPBELL, Mark→
director · ~63y · appointed 2006-01-18 · resigned 2010-09-02
Resigned
SULLIVAN, Patrick Alan→
director · ~53y · appointed 2005-04-07 · resigned 2014-10-02
Resigned
CREDITREFORM LIMITED→
corporate-director · appointed 2005-04-07 · resigned 2005-04-07
Resigned

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

Mortgages & charges

4
Total charges
1
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Barclays
Barclays Bank PLC
Legal charge1 property11/01/2008—
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Legal charge1 property16/03/200711/08/2017
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Legal charge1 property21/09/200614/03/2007
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Legal charge1 property11/11/200511/08/2017
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (92 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-01-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-01-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-14
second-filing-of-confirmation-statement-with-made-up-date
confirmation-statement · RP04CS01
2022-08-11
capital-allotment-shares
capital · SH01
2022-08-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-03-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-03-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-15
confirmation-statement-with-updates
confirmation-statement · CS01
2020-06-15