DBG TOPCO LIMITED

⚰️Wound downdissolved

07128317 · ltd · incorporated 2010-01-18

Investment thesis

Company dissolved — not a live target.

Why interesting: Historical record only; useful for precedent research.

Why risky: Not transactable.

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

43/100

Watch

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What this business does

Primary activity: Activities of other holding companies n.e.c.

Sector: Financial & insurance

Investor take

Pass (distressed without resilience)

Distressed asset-holding vehicle — structural issues outweigh the discount.

Opportunity 43/100 (watch), bankability 52/100. High owner-dependency — earn-out structure likely required for clean transition. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: asset disposal / carve-out (30/100). Current lenders should be on monthly review.

🏦

Refinance opportunity

3 live charges · 3 lenders · oldest 16.2y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 16.2 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 50/100 (high).

Data confidence

Overall: medium (60/100)

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

No iXBRL financials extracted

Lenders & charges

3 charges (3/3 with lender, 3/3 with type)

Directors & officers

26 officers (1 active, 26 linked, 19 with DOB)

Ownership & PSC

2 active PSC(s) of 2 total, 2 with control declared

Director network

10 connected companies via shared directors

Filing history

142 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

43/100Watch

PassWatchWorth a lookStrongExceptional

Not actionable now, but monitor — distressed, succession, or structural changes could flip this into a real opportunity.

Business quality

Concerning — overdue filings or status flags present.

Acquirability

Some acquirability indicators.

Risk profile

Multiple red flags — proceed with caution.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

Last 90 days

filings

Last 180 days

filing

• 1 gazette

Counts from Companies House filing history.

Corporate timeline (82 events)Click to expand

2025-12-11
⚠️
gazette-dissolved-liquidation
gazette · GAZ2
2025-12-11
🏁
Company dissolved
2025-09-11
⚠️
liquidation-voluntary-members-return-of-final-meeting
insolvency · LIQ13
2025-07-10
⚠️
liquidation-voluntary-statement-of-receipts-and-payments-with-brought-down-date
insolvency · LIQ03
2025-01-31
📄
change-person-director-company-with-change-date
officers · CH01
2024-08-16
➖
RIALL, Tom resigned
director
2024-08-16
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-06-18
📍
move-registers-to-sail-company-with-new-address
address · AD03
2024-06-18
📍
change-sail-address-company-with-old-address-new-address
address · AD02
2024-05-20
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-05-20
⚠️
liquidation-voluntary-declaration-of-solvency
insolvency · LIQ01
2024-05-20
⚠️
liquidation-voluntary-appointment-of-liquidator
insolvency · 600
2024-05-20
📄
resolution
resolution · RESOLUTIONS
2024-05-07
📄
resolution
resolution · RESOLUTIONS
2024-05-07
📄
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2024-05-07
📄
legacy
capital · SH20
2024-05-07
⚠️
legacy
insolvency · CAP-SS
2024-05-07
📄
resolution
resolution · RESOLUTIONS
2024-05-07
📄
capital-allotment-shares
capital · SH01
2023-12-21
📄
legacy
accounts · PARENT_ACC
2023-12-21
📄
legacy
other · GUARANTEE2
2023-12-21
📄
legacy
other · AGREEMENT2
2023-01-17
📄
accounts-with-accounts-type-audit-exemption-subsiduary
accounts · AA
2022-12-21
📄
legacy
accounts · PARENT_ACC
2022-12-21
📄
legacy
other · GUARANTEE2
2022-06-06
➖
ADAMS, Gervase Paul resigned
director
2022-06-06
➖
GOODGER, Benjamin William resigned
director
2022-03-04
🔓
Charge satisfied #3
2020-11-27
➕
PANDYA, Nilesh Kundanlal appointed
director
2020-01-31
➖
CARROLL, Leo Damian resigned
secretary
2019-08-14
➕
GOODGER, Benjamin William appointed
director
2019-04-05
➖
SHAFI KHAN, Mohammed Omar resigned
director
2018-10-09
➕
ADAMS, Gervase Paul appointed
director
2018-05-08
➖
BONNAVION, Jean Michel Claude resigned
director
2018-04-20
➖
STEPHENSON, Robert Mark resigned
director
2017-12-05
➖
PEARSON, Andrew Guy resigned
director
2017-10-16
➕
SHAFI KHAN, Mohammed Omar appointed
director
2017-07-31
➕
CARROLL, Leo Damian appointed
secretary
2017-07-31
➖
ROBSON, William Henry Mark resigned
secretary
2017-07-31
➖
ROBSON, William Henry Mark resigned
director
2017-05-08
➕
RIALL, Tom appointed
director
2017-03-31
➖
SCICLUNA, Terence Joseph resigned
director
2016-10-03
➖
KUMP, Eric John resigned
director
2016-08-19
🔓
Charge satisfied #2
2016-08-05
🔒
Charge registered #3
Lender: U.S. Bank Trustees Limited
2015-12-31
➖
KHILOSIA, Kanesh, Mr. resigned
director
2015-05-01
➕
STEPHENSON, Robert Mark appointed
director
2014-10-31
➖
MCDONALD, Elizabeth resigned
secretary
2014-10-31
➕
ROBSON, William Henry Mark appointed
secretary
2014-01-09
➕
SCICLUNA, Terence Joseph appointed
director

Showing most recent 50 of 82 events

Owner dependency

75/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

+Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

55/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
secondaryStable-but-static management: Company is 16 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

2 high · 1 med · 1 low

Company dissolved

high

Company has been dissolved — it no longer legally exists. Any diligence here is historical only.

Evidence: Dissolved on 2025-12-11

6 insolvency-related filings on record

high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2025-12-11: gazette-dissolved-liquidation; 2025-09-11: liquidation-voluntary-members-return-of-final-meeting

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.

Multiple registered office changes

low

Multiple address changes in a short period can indicate operational instability or admin disorder.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️

Healthcare Buying Group Limited

Corporate parent · holds 75-100% shares · board control

ultimate parent

🏛️

Turnstone Equityco 1 Limited

Corporate parent · board control

⬇

DBG TOPCO LIMITED

This company · 07128317

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Healthcare Buying Group Limited Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	06/04/2016
Turnstone Equityco 1 Limited Corporate entity	—	—	board controlboard control	06/04/2016

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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Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

10 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

Statusdissolved

Typeltd

Incorporated2010-01-18

Jurisdictionengland-wales

Primary SIC64209 — Activities of other holding companies n.e.c.

Registered office

Landmark St Peters Square 1

Oxford Street

Manchester

M1 4PB

Filing status

Accounts

Next due: —

Last made up to: 2022-03-31

Confirmation statement

Next due: —

Last: 2024-01-18

Officers (0 active · 25 resigned)

PANDYA, Nilesh Kundanlal→

director · ~55y · appointed 2020-11-27

View their other companies + combined net worth →

Active

CARROLL, Leo Damian→

secretary · appointed 2017-07-31 · resigned 2020-01-31

Resigned

KHILOSIA, Kanesh→

secretary · appointed 2010-05-17 · resigned 2013-04-16

Resigned

MCDONALD, Elizabeth→

secretary · appointed 2013-04-16 · resigned 2014-10-31

Resigned

ROBSON, William Henry Mark→

secretary · appointed 2014-10-31 · resigned 2017-07-31

Resigned

TRAVERS SMITH SECRETARIES LIMITED→

corporate-secretary · appointed 2010-01-18 · resigned 2010-03-04

Resigned

ADAMS, Gervase Paul→

director · ~68y · appointed 2018-10-09 · resigned 2022-06-06

Resigned

BONNAVION, Jean Michel Claude→

director · ~55y · appointed 2013-04-16 · resigned 2018-05-08

Resigned

BRACKEN, Ruth→

director · ~75y · appointed 2010-01-18 · resigned 2010-03-04

Resigned

CARMAN, David John→

director · ~76y · appointed 2010-11-24 · resigned 2013-04-16

Resigned

GOODGER, Benjamin William→

director · ~43y · appointed 2019-08-14 · resigned 2022-06-06

Resigned

KHILOSIA, Kanesh, Mr.→

director · ~58y · appointed 2010-05-17 · resigned 2015-12-31

Resigned

KUMP, Eric John→

director · ~56y · appointed 2013-04-16 · resigned 2016-10-03

Resigned

MENTON, David Jeremy→

director · ~49y · appointed 2010-03-04 · resigned 2013-04-16

Resigned

PEARSON, Andrew Guy→

director · ~55y · appointed 2013-06-20 · resigned 2017-12-05

Resigned

RIALL, Tom→

director · ~66y · appointed 2017-05-08 · resigned 2024-08-16

Resigned

ROBSON, William Henry Mark→

director · ~63y · appointed 2013-04-16 · resigned 2017-07-31

Resigned

ROCHFORD, John→

director · ~67y · appointed 2010-03-04 · resigned 2013-04-16

Resigned

SCICLUNA, Terence Joseph→

director · ~69y · appointed 2014-01-09 · resigned 2017-03-31

Resigned

SHAFI KHAN, Mohammed Omar→

director · ~52y · appointed 2017-10-16 · resigned 2019-04-05

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:3 of 3 shown

		Type	Properties
satisfied	U.S. Bank Trustees U.S. Bank Trustees Limited	A registered charge	—	05/08/2016	04/03/2022
satisfied	U.S.Bank Trustees (The "Security Agent") U.S.Bank Trustees Limited (The "Security Agent")	A registered charge	1 property	30/05/2013	19/08/2016
satisfied	Co-operative Bank The Co-Operative Bank PLC	Debenture	1 property	20/03/2010	17/04/2013

Recent filings (142 total)

gazette-dissolved-liquidation

gazette · GAZ2

2025-12-11

liquidation-voluntary-members-return-of-final-meeting

insolvency · LIQ13

2025-09-11

liquidation-voluntary-statement-of-receipts-and-payments-with-brought-down-date

insolvency · LIQ03

2025-07-10

change-person-director-company-with-change-date

officers · CH01

2025-01-31

termination-director-company-with-name-termination-date

officers · TM01

2024-08-16

move-registers-to-sail-company-with-new-address

address · AD03

2024-06-18

change-sail-address-company-with-old-address-new-address

address · AD02

2024-06-18

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2024-05-20

liquidation-voluntary-declaration-of-solvency

insolvency · LIQ01

2024-05-20

liquidation-voluntary-appointment-of-liquidator

insolvency · 600

2024-05-20

resolution

resolution · RESOLUTIONS

2024-05-20

resolution

resolution · RESOLUTIONS

2024-05-07

capital-statement-capital-company-with-date-currency-figure

capital · SH19

2024-05-07

legacy

capital · SH20

2024-05-07

legacy

insolvency · CAP-SS

2024-05-07