BTRAC LIMITED
🌳Matureactive
06907609 · ltd · incorporated 2009-05-16
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.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 16.6y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Dec 2025
Net worth
—
book net assets
Opportunity
74/100
Strong
What this business does
Primary activity: SIC 26110
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 74/100 (strong), bankability 85/100. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
1 live charge · oldest 16.6y
85/100
ready
Refinance conversation should be productive — structure clean and timing right.
- · Oldest live charge is 16.6 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Legal-friction score 15/100 — clean.
Data confidence
Overall: medium (78/100)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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
5 officers (2 active, 5 linked, 5 with DOB)
90
Ownership & PSC
2 active PSC(s) of 4 total, 4 with control declared
90
Director network
Network not yet resolved
30
Filing history
58 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
50
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Average employees | 21 | 1700 |
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
1
filing
- • 1 confirmation-statement
Last 180 days
2
filings
- • 1 confirmation-statement
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (28 events)Click to expand
- 2026-03-11📄accounts-with-accounts-type-smallaccounts · AA
- 2025-03-12📄accounts-with-accounts-type-smallaccounts · AA
- 2024-04-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-02-29📄accounts-with-accounts-type-smallaccounts · AA
- 2023-11-23📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-03-06📄accounts-with-accounts-type-smallaccounts · AA
- 2022-03-10📄accounts-with-accounts-type-smallaccounts · AA
- 2021-04-06📄accounts-with-accounts-type-smallaccounts · AA
- 2020-09-10📄appoint-person-director-company-with-name-dateofficers · AP01
- 2020-09-10📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2020-09-10📄termination-director-company-with-name-termination-dateofficers · TM01
- 2020-09-01➕CARRINGTON, Craig Michael appointeddirector
- 2020-08-31➖FISHMAN, David Simon resigneddirector
- 2020-05-18📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2020-03-27📄accounts-with-accounts-type-smallaccounts · AA
- 2019-12-12📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2019-11-06📄termination-director-company-with-name-termination-dateofficers · TM01
- 2019-09-16➖GEBAUER, Johannes Felix resigneddirector
- 2019-06-12📄accounts-with-accounts-type-smallaccounts · AA
- 2018-06-20📄accounts-with-accounts-type-smallaccounts · AA
- 2017-05-15➕THEUNERT, Sebastian Manfred appointeddirector
- 2017-05-15➕GEBAUER, Johannes Felix appointeddirector
- 2016-03-04➖GIORGI, Andrea resigneddirector
- 2015-12-30🔓Charge satisfied #1
- 2010-04-06➕GIORGI, Andrea appointeddirector
- 2009-11-27🔒Charge registered #1Lender: National Westminster Bank PLC
- 2009-05-16🏢Company incorporatedAs BTRAC LIMITED
- 2009-05-16➕FISHMAN, David Simon appointeddirector
Owner dependency
58/100
Moderate — manageable with handoverSome founder dependency, but not acute. A structured handover period should cover most risk.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
Succession & seller-readiness
46/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- secondaryStable-but-static management: Company is 17 years old and no new directors in the last 3 years — succession not yet being planned internally.
Red flags
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
2 active beneficial owners · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Maschinenfabrik Reinhausen Gmbh Individual | 75–100% | 75–100% | 75-100% shares · 75-100% voting | 30/06/2016 |
Mr Sebastian Manfred Theunert Individual · German · DOB 09/1984 · age 42 | — | — | sig. influencesignificant influence | 15/05/2017 |
2 historic (ceased) PSCs
- Mr Johannes Felix Gebauerceased 16/09/2019· significant influence
- Mr David Simon Fishmanceased 31/08/2020· significant influence
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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|---|---|---|---|---|---|---|---|
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
6 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
Incorporated2009-05-16
Jurisdictionengland-wales
Primary SIC26110 — SIC 26110
Registered office
Unit A
Halesfield 19
Telford
Shropshire
TF7 4QT
England
Filing status
Accounts
Next due: 2027-09-30
Last made up to: 2025-12-31
Confirmation statement
Next due: 2027-05-30
Last: 2026-05-16
Officers (2 active · 3 resigned)
CARRINGTON, Craig Michael→
Activedirector · ~46y · appointed 2020-09-01
View their other companies + combined net worth →
THEUNERT, Sebastian Manfred→
Activedirector · ~42y · appointed 2017-05-15
View their other companies + combined net worth →
FISHMAN, David Simon→
Resigneddirector · ~57y · appointed 2009-05-16 · resigned 2020-08-31
GEBAUER, Johannes Felix→
Resigneddirector · ~63y · appointed 2017-05-15 · resigned 2019-09-16
GIORGI, Andrea→
Resigneddirector · ~65y · appointed 2010-04-06 · resigned 2016-03-04
Click a director name to see their full track record across all companies.
Mortgages & charges
1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | National Westminster Bank National Westminster Bank PLC | Charge of deposit | 1 property | 27/11/2009 | 30/12/2015 |
Recent filings (58 total)
confirmation-statement-with-updates
confirmation-statement · CS01
2026-05-18
accounts-with-accounts-type-small
accounts · AA
2026-03-11
confirmation-statement-with-updates
confirmation-statement · CS01
2025-05-19
accounts-with-accounts-type-small
accounts · AA
2025-03-12
confirmation-statement-with-updates
confirmation-statement · CS01
2024-05-16
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-04-29
accounts-with-accounts-type-small
accounts · AA
2024-02-29
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-11-23
confirmation-statement-with-updates
confirmation-statement · CS01
2023-05-16
accounts-with-accounts-type-small
accounts · AA
2023-03-06
confirmation-statement-with-updates
confirmation-statement · CS01
2022-05-16
accounts-with-accounts-type-small
accounts · AA
2022-03-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-05-17
accounts-with-accounts-type-small
accounts · AA
2021-04-06
appoint-person-director-company-with-name-date
officers · AP01
2020-09-10