JOHN MORGAN AND CO LIMITED
🌳Matureactive
07233718 · ltd · incorporated 2010-04-23
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 Jun 2025
Net worth
£626.3k
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: SIC 38320
Sector: Water supply & waste
Investor take
PursueActive trading company. Family succession underway — not a classic acquisition target.
Opportunity 79/100 (strong), bankability 80/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -91% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
1 live charge · oldest 3.0y
10/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Newest facility, 3.0 years old — likely still in initial term.
- · Single lender — cleanest path to refinance.
- · Cashflow trend is negative — lender view likely cautious.
Data confidence
Overall: medium (79/100)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, 4 with DOB)
86
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
44 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 £626,254
Cash draining
Cash down 91% YoY
Cash YoY
-91%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£15k
↓ 91% YoY
Net Worth
£626k
↑ 2.1% YoY
Current Assets
£659k
~ YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-06-30 | 2024-06-30 |
|---|---|---|
| Total assets | £697.2k | £689.3k |
| Current assets | £659.0k | £656.7k |
| Cash | £14.6k | £164.4k |
| Debtors | £334.4k | £334.6k |
| Net assets | £626.3k | £613.4k |
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
1
filing
- • 1 accounts
Last 180 days
1
filing
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (28 events)Click to expand
- 2026-05-13📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-12-03📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2025-12-03📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2025-03-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-07-18📄change-account-reference-date-company-previous-extendedaccounts · AA01
- 2023-10-02📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-07-24📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2023-07-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-07-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-07-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-07-19📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2023-07-19📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-07-19📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-07-19📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-07-11➕ARMISTEAD, Brian appointeddirector
- 2023-07-11➕ARMISTEAD, Luke Francis appointeddirector
- 2023-07-11➖MORGAN, Karen resignedsecretary
- 2023-07-11➖MORGAN, John Howard resigneddirector
- 2023-07-11➖MORGAN, Karen resigneddirector
- 2023-07-11🔒Charge registered #1Lender: Oxbury Bank PLC
- 2022-12-15📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2022-08-03📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-08-11📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-10-01📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2010-04-23🏢Company incorporatedAs JOHN MORGAN AND CO LIMITED
- 2010-04-23➕MORGAN, Karen appointedsecretary
- 2010-04-23➕MORGAN, John Howard appointeddirector
- 2010-04-23➕MORGAN, Karen appointeddirector
Owner dependency
81/100
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.
- +Founder age: Director aged approximately 70 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
26/100
Weak signalLimited succession signal. Not a near-term off-market candidate.
SIGNALS
- primaryFamily succession underway: Not a takeover target — ARMISTEAD, Luke Francis (same surname) appointed 2023-07-11. Pattern consistent with intra-family handover.
- primaryFounder aged 70+: Senior director is approximately 70 years old. Natural succession window is now.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
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
Brian Armistead Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Brian Armistead Limited
Corporate parent · holds 75-100% shares · board control
⬇
JOHN MORGAN AND CO LIMITED
This company · 07233718
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Brian Armistead Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 11/07/2023 |
2 historic (ceased) PSCs
- Mr John Howard Morganceased 11/07/2023· 25-50% shares
- Mrs Karen Morganceased 11/07/2023· 25-50% shares
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
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| FORSA ENERGY GAS ACQUISITIONS 3 LIMITED→ 11671372 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
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| JOHN MILLER AND SONS LIMITED→ 05370248 · est 2005 · no financials extracted | — | — | — | — | 21y | — | — |
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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
Incorporated2010-04-23
Jurisdictionengland-wales
Primary SIC38320 — SIC 38320
Registered office
95 King Street
Lancaster
Lancashire
LA1 1RH
England
Filing status
Accounts
Next due: 2027-03-31
Last made up to: 2025-06-30
Confirmation statement
Next due: 2026-08-09
Last: 2025-07-26
Officers (2 active · 3 resigned)
ARMISTEAD, Brian→
Activedirector · ~70y · appointed 2023-07-11
View their other companies + combined net worth →
ARMISTEAD, Luke Francis→
Activedirector · ~36y · appointed 2023-07-11
View their other companies + combined net worth →
MORGAN, Karen→
Resignedsecretary · appointed 2010-04-23 · resigned 2023-07-11
MORGAN, John Howard→
Resigneddirector · ~71y · appointed 2010-04-23 · resigned 2023-07-11
MORGAN, Karen→
Resigneddirector · ~61y · appointed 2010-04-23 · resigned 2023-07-11
Click a director name to see their full track record across all companies.
Mortgages & charges
1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Oxbury Bank Oxbury Bank PLC | A registered charge | — | 11/07/2023 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (44 total)
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-05-13
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-12-03
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-12-03
confirmation-statement-with-updates
confirmation-statement · CS01
2025-07-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-03-31
confirmation-statement-with-updates
confirmation-statement · CS01
2024-07-29
change-account-reference-date-company-previous-extended
accounts · AA01
2024-07-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-10-02
confirmation-statement-with-updates
confirmation-statement · CS01
2023-07-26
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-07-24
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-07-21
termination-director-company-with-name-termination-date
officers · TM01
2023-07-20
termination-director-company-with-name-termination-date
officers · TM01
2023-07-20
termination-secretary-company-with-name-termination-date
officers · TM02
2023-07-19
appoint-person-director-company-with-name-date
officers · AP01
2023-07-19