ASSOCIATED ARMOUR LTD
🌳Matureactive
06957185 · ltd · incorporated 2009-07-09
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
- · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£86.8k
book net assets
Opportunity
80/100
Exceptional
What this business does
Primary activity: SIC 84220
Sector: Public administration
Investor take
PursueAsset-holding vehicle with a 77-year-old founder — textbook succession opportunity.
Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (83/100, director aged 77). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).
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
Confirmed no charges registered
85
Directors & officers
3 officers (3 active, 3 linked, 2 with DOB)
83
Ownership & PSC
3 active PSC(s) of 6 total, 6 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
50 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
80/100Exceptional
PassWatchWorth a lookStrongExceptional
Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £86,844
Net assets shrinking
Down £129,029 YoY
Cash YoY
+109%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£62k
↑ 109% YoY
Net Worth
£87k
↓ 60% YoY
Current Assets
£97k
↓ 57% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £86.8k | £215.9k |
| Current assets | £96.7k | £225.8k |
| Cash | £61.7k | £29.6k |
| Debtors | £34.9k | £196.2k |
| Net assets | £86.8k | £215.9k |
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
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (20 events)Click to expand
- 2025-12-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-18📄change-account-reference-date-company-previous-shortenedaccounts · AA01
- 2024-01-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-01-27📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-11-16📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2022-11-16📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2022-11-16📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-11-16📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-11-16📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-11-16📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2022-01-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-01-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-01-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-01-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-07-24📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2010-03-24➕PRICE, Christopher David appointeddirector
- 2009-07-09🏢Company incorporatedAs ASSOCIATED ARMOUR LTD
- 2009-07-09➕BORMAN, Christopher Tony appointedsecretary
- 2009-07-09➕BORMAN, Andrew Stephen appointeddirector
Owner dependency
83/100
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
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
- +Long-tenure founder: Senior director has been in place 17 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 77 — succession pressure is live.
Succession & seller-readiness
89/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 77 years old. Natural succession window is now.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- secondary12+ year tenure: Director in role 17 years.
- secondaryStable-but-static management: Company is 17 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
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Group structure
3 corporate shareholders identified. Group structure is distributed.
🏛️significant stake
Doyashi Engineering
Corporate parent · holds 25-50% shares
🏛️significant stake
At Research And Development Ltd
Corporate parent · holds 25-50% shares
🏛️significant stake
Helston Gunsmiths Limited
Corporate parent · holds 25-50% shares
⬇
ASSOCIATED ARMOUR LTD
This company · 06957185
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
3 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Doyashi Engineering Corporate entity | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 03/05/2019 |
At Research And Development Ltd Corporate entity | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 03/05/2019 |
Helston Gunsmiths Limited Corporate entity | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 03/05/2019 |
3 historic (ceased) PSCs
- Mr Hitesh Ravalceased 03/05/2019· 25-50% shares · 25-50% voting
- Mr Andrew Stephen Bormanceased 03/05/2019· 25-50% shares · 25-50% voting
- Mr Christopher Priceceased 03/05/2019· 25-50% shares · 25-50% voting
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
Active · Other · TR postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| 12 LOWER MARKET STREET LIMITED→ 09002412 · est 2014 · no financials extracted | — | — | — | — | 12y | — | — |
| A2B FALMOUTH DOCKS LIMITED→ 10902969 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| ACTIVITY HUNTER LTD→ 09990636 · est 2016 · no financials extracted | — | — | — | — | 10y | — | — |
| ALL ELITE ESTATES LIMITED→ 15703926 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| ALPACA CONSTRUCTION LTD→ 14192615 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| ANTOINE VILLA LIMITED→ 00862060 · est 1965 · no financials extracted | — | — | — | — | 60y | — | — |
| APEX SCIENCE AND CONSERVATION LLP→ OC457949 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| APOLLO CONSULT GROUP PC→ LP018941 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| ARCHITECTURAL SERVICES (SOUTH WEST) LLP→ OC367264 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
| ARREN JAMES HYMAS LIMITED→ 15458185 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| ASTONS PARTNERS LP→ LP022782 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| AT RESEARCH AND DEVELOPMENT LTD→ 11200000 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
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
Incorporated2009-07-09
Jurisdictionengland-wales
Primary SIC84220 — SIC 84220
Registered office
Helston Gunsmiths Factory
Water-Ma-Trout
Helston
Cornwall
TR13 0LW
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-11-14
Last: 2025-10-31
Officers (3 active · 0 resigned)
BORMAN, Christopher Tony→
Activesecretary · appointed 2009-07-09
View their other companies + combined net worth →
BORMAN, Andrew Stephen→
Activedirector · ~70y · appointed 2009-07-09
View their other companies + combined net worth →
PRICE, Christopher David→
Activedirector · ~77y · appointed 2010-03-24
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Recent filings (50 total)
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-18
change-account-reference-date-company-previous-shortened
accounts · AA01
2024-12-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-22
confirmation-statement-with-updates
confirmation-statement · CS01
2023-11-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-27
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-11-16
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-11-16
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-11-16
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-11-16
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-11-16
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-11-16
confirmation-statement-with-updates
confirmation-statement · CS01
2022-11-16