2 SURFACE LEATHER LTD

🌳Matureactive
08254727 · ltd · incorporated 2012-10-16
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 Dec 2024
Net worth
£451.5k
book net assets
Opportunity
78/100
Strong
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What this business does
Primary activity: SIC 18129
Sector: Manufacturing
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 78/100 (strong), bankability 67/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

6 live charges · 3 lenders · oldest 11.5y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 11.5 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: high (84/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

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
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
6 officers (2 active, 6 linked, 6 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
13 connected companies via shared directors
84
Filing history
52 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £451,471
Cash YoY
-3%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£37k
↓ 3.2% YoY
Net Worth
£451k
↑ 7.6% YoY
Current Assets
£513k
↑ 12% YoY
Current Liabilities
—
£0£103k£205k£308k£410k£513kDec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-12-312023-12-31
Total assets£523.2k£468.3k
Current assets£512.5k£456.5k
Cash£36.7k£37.9k
Debtors£221.1k£198.8k
Net assets£451.5k£419.7k

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
0
filings
Counts from Companies House filing history.
Corporate timeline (38 events)Click to expand
  1. 2025-09-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-05-15
    📄
    legacy
    miscellaneous · ANNOTATION
  3. 2025-05-09
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  4. 2025-05-08
    🔒
    Charge registered #6
    Lender: Hsbc UK Bank PLC
  5. 2024-09-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-09-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2022-09-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-07-29
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  9. 2021-07-28
    🔒
    Charge registered #5
    Lender: Hsbc UK Bank PLC
  10. 2021-06-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-06-07
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  12. 2021-06-07
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2021-06-07
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  14. 2021-06-07
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2021-06-07
    🔓
    Charge satisfied #4
  16. 2021-06-07
    🔓
    Charge satisfied #3
  17. 2021-06-07
    🔓
    Charge satisfied #2
  18. 2021-06-07
    🔓
    Charge satisfied #1
  19. 2020-07-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2019-09-10
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2018-10-11
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  22. 2018-09-07
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  23. 2018-06-30
    ➖
    LUCK, Adrian Martin resigned
    director
  24. 2017-11-22
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  25. 2017-08-25
    ➕
    GAUNT, Craig John appointed
    director
  26. 2017-08-25
    ➖
    GAUNT, Craig John resigned
    director
  27. 2017-01-23
    🔒
    Charge registered #4
    Lender: Hsbc Bank PLC
  28. 2016-08-18
    ➕
    GAUNT, Craig John appointed
    director
  29. 2016-08-18
    ➕
    LUCK, Adrian Martin appointed
    director
  30. 2016-08-18
    ➖
    SUMMERFIELD, Mark resigned
    director
  31. 2015-02-18
    ➖
    MCDONALD, Angela Mary resigned
    director
  32. 2015-02-12
    🔒
    Charge registered #3
    Lender: Hsbc Bank PLC
  33. 2015-02-11
    🔒
    Charge registered #2
    Lender: Hsbc Bank PLC
  34. 2014-12-18
    🔒
    Charge registered #1
    Lender: Hsbc Invoice Finance (UK) LTD
  35. 2014-10-01
    ➕
    MCDONALD, Angela Mary appointed
    director
  36. 2012-10-16
    🏢
    Company incorporated
    As 2 SURFACE LEATHER LTD
  37. 2012-10-16
    ➕
    HARDING, Vincent appointed
    director
  38. 2012-10-16
    ➕
    SUMMERFIELD, Mark appointed
    director

Owner dependency

66/100
High — earn-out structure required

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

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Senior director age: Director aged approximately 58 — approaching natural succession window.

Succession & seller-readiness

59/100
Strong succession signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 58. Early succession window.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 14 years.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·
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.

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Vince Harding
Individual · British · DOB 01/1968 · age 58
50–75%
—50-75% shares06/04/2016

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

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
Incorporated2012-10-16
Jurisdictionengland-wales
Primary SIC18129 — SIC 18129

Registered office

Unit 4i Blenheim Park Road
Nottingham
NG6 8YP
England

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-06-20
Last: 2025-06-06

Officers (2 active · 4 resigned)

GAUNT, Craig John→
director · ~53y · appointed 2017-08-25
View their other companies + combined net worth →
Active
HARDING, Vincent→
director · ~58y · appointed 2012-10-16
View their other companies + combined net worth →
Active
GAUNT, Craig John→
director · ~53y · appointed 2016-08-18 · resigned 2017-08-25
Resigned
LUCK, Adrian Martin→
director · ~58y · appointed 2016-08-18 · resigned 2018-06-30
Resigned
MCDONALD, Angela Mary→
director · ~60y · appointed 2014-10-01 · resigned 2015-02-18
Resigned
SUMMERFIELD, Mark→
director · ~65y · appointed 2012-10-16 · resigned 2016-08-18
Resigned

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

Mortgages & charges

6
Total charges
2
Outstanding
1
Active lenders
Status:Lender:6 of 6 shown
TypeProperties
outstanding
HSBC
Hsbc UK Bank PLC
A registered charge1 property08/05/2025—
outstanding
HSBC
Hsbc UK Bank PLC
A registered charge1 property28/07/2021—
satisfied
HSBC
Hsbc Bank PLC
A registered charge1 property23/01/201707/06/2021
satisfied
HSBC
Hsbc Bank PLC
A registered charge1 property12/02/201507/06/2021
satisfied
HSBC
Hsbc Bank PLC
A registered charge1 property11/02/201507/06/2021
satisfied
HSBC
Hsbc Invoice Finance (UK) LTD
A registered charge—18/12/201407/06/2021
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (52 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-09-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-06
legacy
miscellaneous · ANNOTATION
2025-05-15
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-05-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-09-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-09-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-04
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-07-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-06-08
mortgage-satisfy-charge-full
mortgage · MR04
2021-06-07
mortgage-satisfy-charge-full
mortgage · MR04
2021-06-07