AERODYNAMIC TEST EQUIPMENT LIMITED
💤Zombieactive
07215653 · ltd · incorporated 2010-04-07
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 Mar 2025
Net worth
£65.0k
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: Other manufacturing n.e.c.
Sector: Manufacturing
Investor take
PursueActive trading company with a 63-year-old founder — textbook succession opportunity.
Opportunity 79/100 (strong), bankability 75/100. Strong seller-intent signal (65/100, director aged 63). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
3 live charges · 2 lenders · oldest 16.1y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 16.1 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Distress signals active — lender appetite narrows.
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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
3 officers (1 active, 3 linked, 3 with DOB)
90
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
66 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
70
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £65,043
Net assets shrinking
Down £10,533 YoY
Cash YoY
+4461%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£1.4m
↑ 4461% YoY
Net Worth
£65k
↓ 14% YoY
Current Assets
£1.9m
↑ 95% 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 | £114.2k | £123.1k |
| Current assets | £1.86M | £955.0k |
| Cash | £1.37M | £30.0k |
| Debtors | £490.0k | £923.6k |
| Net assets | £65.0k | £75.6k |
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
1
filing
- • 1 confirmation-statement
Last 180 days
2
filings
- • 1 confirmation-statement
- • 1 officers
Counts from Companies House filing history.
Corporate timeline (29 events)Click to expand
- 2026-03-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-12-31➖MOWER, Richard George William resigneddirector
- 2025-12-10📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-06-04📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-06-04🔓Charge satisfied #2
- 2023-12-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-01-08📄change-account-reference-date-company-current-extendedaccounts · AA01
- 2022-12-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-01-04📄memorandum-articlesincorporation · MA
- 2022-01-04📄resolutionresolution · RESOLUTIONS
- 2021-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-12-20📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2021-12-20📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-12-20📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2021-12-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2021-12-16➕SMALLER, Martin Nicholas appointeddirector
- 2021-12-16➖CULLIMORE, Mervyn Anthony resigneddirector
- 2020-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-06-26📄capital-name-of-class-of-sharescapital · SH08
- 2020-06-26📄resolutionresolution · RESOLUTIONS
- 2020-04-09📄change-person-director-company-with-change-dateofficers · CH01
- 2017-07-21🔒Charge registered #3Lender: Lloyds Bank PLC
- 2016-10-07🔒Charge registered #2Lender: Lloyds Bank PLC
- 2014-05-08➕MOWER, Richard George William appointeddirector
- 2011-02-11🔓Charge satisfied #1
- 2010-05-06🔒Charge registered #1Lender: Aerotech A.T.E.Limited and Mark Robert Fry and Kristie Jane Provan
- 2010-04-07🏢Company incorporatedAs AERODYNAMIC TEST EQUIPMENT LIMITED
- 2010-04-07➕CULLIMORE, Mervyn Anthony 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
- +Sole director: Only one active director — all governance concentrated on one person.
- +Senior director age: Director aged approximately 63 — approaching natural succession window.
Succession & seller-readiness
75/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 63. Approaching typical UK retirement age — succession thinking likely.
- 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
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Martin Nicholas Smaller Individual · British · DOB 07/1963 · age 63 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 16/12/2021 |
2 historic (ceased) PSCs
- Mr Mervyn Anthony Cullimoreceased 16/12/2021· 75-100% shares · 75-100% voting · board control
- Mr Mervyn Anthony Cullimoreceased 07/04/2017· 75-100% shares · 75-100% voting
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Manufacturing · TN postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| ACT ENGINEERING LIMITED→ 15114996 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ADVARTEX LIMITED→ 01312944 · est 1977 · no financials extracted | — | — | — | — | 48y | — | — |
| AJG AVIATION LTD→ 14913041 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ALL CNC LTD→ 15403714 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| AND CO. BRANDS LTD→ 06982760 · est 2009 · no financials extracted | — | — | — | — | 16y | — | — |
| ANDRA TRADING LIMITED→ 17023755 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| ANTONIA DE LUCA MILLINERY LIMITED→ 16316455 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| APEX MASONRY LIMITED→ 02503910 · est 1990 · no financials extracted | — | — | — | — | 35y | — | — |
| APEX MASONRY SOLUTIONS LTD→ 16410790 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| APPLIED CUTTING SYSTEMS LIMITED→ 04534529 · est 2002 · no financials extracted | — | — | — | — | 23y | — | — |
| APPLIED JOINERY LTD→ 15406664 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| APX FIRE & SECURITY LIMITED→ 04915204 · est 2003 · no financials extracted | — | — | — | — | 22y | — | — |
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
Incorporated2010-04-07
Jurisdictionengland-wales
Primary SIC32990 — Other manufacturing n.e.c.
Registered office
Atlantic House
8 Bell Lane
Uckfield
East Sussex
TN22 1QL
England
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-04-21
Last: 2026-04-07
Officers (1 active · 2 resigned)
SMALLER, Martin Nicholas→
Activedirector · ~63y · appointed 2021-12-16
View their other companies + combined net worth →
CULLIMORE, Mervyn Anthony→
Resigneddirector · ~79y · appointed 2010-04-07 · resigned 2021-12-16
MOWER, Richard George William→
Resigneddirector · ~72y · appointed 2014-05-08 · resigned 2025-12-31
Click a director name to see their full track record across all companies.
Mortgages & charges
3
Total charges
1
Outstanding
1
Active lenders
Status:Lender:3 of 3 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Lloyds Bank PLC | A registered charge | 1 property | 21/07/2017 | — | |
| satisfied | Lloyds Banking Group Lloyds Bank PLC | A registered charge | 1 property | 07/10/2016 | 04/06/2024 | |
| satisfied | Aerotech A.T.E. and Mark Robert Fry and Kristie Jane Provan Aerotech A.T.E.Limited and Mark Robert Fry and Kristie Jane Provan | Debenture | 1 property | 06/05/2010 | 11/02/2011 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (66 total)
confirmation-statement-with-updates
confirmation-statement · CS01
2026-04-10
termination-director-company-with-name-termination-date
officers · TM01
2026-03-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-31
mortgage-satisfy-charge-full
mortgage · MR04
2024-06-04
confirmation-statement-with-updates
confirmation-statement · CS01
2024-04-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-29
confirmation-statement-with-updates
confirmation-statement · CS01
2023-04-11
change-account-reference-date-company-current-extended
accounts · AA01
2023-01-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-28
confirmation-statement-with-updates
confirmation-statement · CS01
2022-05-24
memorandum-articles
incorporation · MA
2022-01-04
resolution
resolution · RESOLUTIONS
2022-01-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-21