20 BELOW LIMITED
💤Zombieactive
06048914 · ltd · incorporated 2007-01-11
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
£-47.1k
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: Advertising agencies
Sector: Professional, scientific & technical
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 79/100 (strong), bankability 75/100. Strong seller-intent signal (70/100, director aged 58). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 2 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
2 live charges · 2 lenders · oldest 18.0y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 18.0 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (77/100)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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
3 officers (1 active, 3 linked, 2 with DOB)
83
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
67 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
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 · FRS 105 (micro)Negative net assets
Liabilities exceed assets by £47,108
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
-£47k
↓ 72% YoY
Current Assets
£4k
↓ 88% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 105 (micro)| Metric | 2025-04-30 | 2024-04-30 |
|---|---|---|
| Total assets | £-24.0k | £6.2k |
| Current assets | £4.4k | £35.7k |
| Net assets | £-47.1k | £-27.4k |
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
8
filings
- • 5 officers
- • 1 confirmation-statement
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
- 2026-03-06📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-03-05➖BAZALGETTE, Elizabeth Berrington resignedsecretary
- 2026-03-05➖BAZALGETTE, Elizabeth Berrington resigneddirector
- 2026-03-05📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2026-03-02📄change-person-director-company-with-change-dateofficers · CH01
- 2026-01-28📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2026-01-06📄change-person-director-company-with-change-dateofficers · CH01
- 2026-01-06📄change-person-secretary-company-with-change-dateofficers · CH03
- 2026-01-06📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2025-04-28📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2025-01-27📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-01-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-05-22📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-01-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-01-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-01-25📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2022-01-25📄change-person-director-company-with-change-dateofficers · CH01
- 2022-01-25📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2022-01-25📄change-person-director-company-with-change-dateofficers · CH01
- 2021-03-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2008-12-16🔒Charge registered #2Lender: Monticello (Windsor) Limted
- 2008-05-30🔒Charge registered #1Lender: Monticello (Windsor) Limited
- 2007-01-11🏢Company incorporatedAs 20 BELOW LIMITED
- 2007-01-11➕SHEARD, Donald James appointeddirector
- 2007-01-11➕BAZALGETTE, Elizabeth Berrington appointedsecretary
- 2007-01-11➕BAZALGETTE, Elizabeth Berrington appointeddirector
Owner dependency
93/100
Critical — business is the founderThe 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 19 years — deep operational knowledge concentrated in one person.
- +Senior director age: Director aged approximately 58 — approaching natural succession window.
Succession & seller-readiness
78/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 58. Early succession window.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- secondary12+ year tenure: Director in role 19 years.
- secondaryStable-but-static management: Company is 19 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 ·2 director resignations in last 12 months
mediumMultiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.
Evidence: BAZALGETTE, Elizabeth Berrington resigned 2026-03-05; BAZALGETTE, Elizabeth Berrington resigned 2026-03-05
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mrs Elizabeth Berrington Bazalgette Individual · British · DOB 03/1972 · age 54 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 06/04/2016 |
Mr Donald James Sheard Individual · British · DOB 05/1968 · age 58 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Professional services · RG postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| AC RESPONSE LTD→ 12628167 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| ACCESSION HEALTHCARE CONSULTING LIMITED→ 07659505 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
| ACCOUNTANT SERVICES LTD→ 12766307 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| ACCOUNTING FOR VAT LIMITED→ 03140020 · est 1995 · no financials extracted | — | — | — | — | 30y | — | — |
| ACCOUNTING FUTURES LTD→ 16356889 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| ACCOUNTS ACTION LIMITED→ 07339558 · est 2010 · no financials extracted | — | — | — | — | 15y | — | — |
| ACCOUNTSYS LIMITED→ 03798794 · est 1999 · no financials extracted | — | — | — | — | 26y | — | — |
| ACCOUNTWISE LIMITED→ 05300578 · est 2004 · no financials extracted | — | — | — | — | 21y | — | — |
| ACCTAX SOLUTIONS LIMITED→ 03994832 · est 2000 · no financials extracted | — | — | — | — | 25y | — | — |
| ACCUSIM LTD→ 15243388 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ACE FINANCE CONSULTING LTD→ 15033598 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ACE MANAGEMENT CONSULTANCY LIMITED→ 12510324 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
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
Incorporated2007-01-11
Jurisdictionengland-wales
Primary SIC73110 — Advertising agencies
Registered office
Suite 12 Thatcham House
Turners Drive
Thatcham
Berkshire
RG19 4QD
England
Filing status
Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2027-01-25
Last: 2026-01-11
Officers (1 active · 2 resigned)
SHEARD, Donald James→
Activedirector · ~58y · appointed 2007-01-11
View their other companies + combined net worth →
BAZALGETTE, Elizabeth Berrington→
Resignedsecretary · appointed 2007-01-11 · resigned 2026-03-05
BAZALGETTE, Elizabeth Berrington→
Resigneddirector · ~54y · appointed 2007-01-11 · resigned 2026-03-05
Click a director name to see their full track record across all companies.
Mortgages & charges
2
Total charges
2
Outstanding
2
Active lenders
Status:Lender:2 of 2 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Monticello (Windsor) Limted | Rent deposit deed | 1 property | 16/12/2008 | — | |
| outstanding | Monticello (Windsor) Monticello (Windsor) Limited | Rent deposit deed | 1 property | 30/05/2008 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (67 total)
termination-director-company-with-name-termination-date
officers · TM01
2026-03-06
termination-secretary-company-with-name-termination-date
officers · TM02
2026-03-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-04
change-person-director-company-with-change-date
officers · CH01
2026-03-02
accounts-with-accounts-type-micro-entity
accounts · AA
2026-01-28
change-person-director-company-with-change-date
officers · CH01
2026-01-06
change-person-secretary-company-with-change-date
officers · CH03
2026-01-06
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-01-06
accounts-with-accounts-type-micro-entity
accounts · AA
2025-04-28
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-01-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-25
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-05-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-31