DIRECT SOURCING INGREDIENTS LIMITED
🌳Matureactive
08628948 · ltd · incorporated 2013-07-29
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jul 2024
Net worth
£1.57M
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: SIC 10890
Sector: Manufacturing
ALSO REGISTERED FOR
- 70100Activities of head offices
Investor take
PursueStrong opportunity: active trading company with strong profile and acceptable with review structure.
Opportunity 73/100 (strong), bankability 57/100. 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. 8 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
8 live charges · 8 lenders · oldest 10.8y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 10.8 years old — likely at or near maturity.
- · 8 lenders named — inter-creditor friction likely.
- · Legal-friction score 25/100 — workable, but lender will want more DD.
Data confidence
Overall: high (81/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
Company profile
address, 2 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
8 charges (8/8 with lender, 8/8 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 4 with DOB)
90
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
72 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Positive net assets
Net assets £1,566,881
Net assets shrinking
Down £299,109 YoY
Cash YoY
+448%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£473k
↑ 448% YoY
Net Worth
£1.6m
↓ 16% YoY
Current Assets
£6.5m
↓ 8.5% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2024-07-31 | 2023-07-31 |
|---|---|---|
| Total assets | £2.14M | £3.26M |
| Current assets | £6.50M | £7.10M |
| Cash | £472.6k | £86.2k |
| Debtors | £5.65M | £6.17M |
| Net assets | £1.57M | £1.87M |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
3 signals 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 (39 events)Click to expand
- 2025-11-13📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2025-11-13📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2025-11-13📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2025-04-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-23📄capital-allotment-sharescapital · SH01
- 2024-12-23📄capital-allotment-sharescapital · SH01
- 2024-07-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-04-30📄change-to-a-person-with-significant-control-without-name-datepersons-with-significant-control · PSC04
- 2024-04-29📄change-person-director-company-with-change-dateofficers · CH01
- 2024-04-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-04-29📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-04-29📄change-person-director-company-with-change-dateofficers · CH01
- 2023-12-21📄change-account-reference-date-company-previous-extendedaccounts · AA01
- 2023-04-11📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-04-04📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-03-31🔒Charge registered #8Lender: Ffe Spv Limited (Co. No. 11281716)
- 2023-03-31🔒Charge registered #7Lender: Npif Yhtv Microfinance LP (LP017888) Acting Through Its General Partner Bef-Npif Gp Limited (Co No 10638308)
- 2023-03-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-01-31📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-01-31📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-01-31🔓Charge satisfied #4
- 2023-01-26🔒Charge registered #6Lender: Skipton Business Finance Limited
- 2022-12-06📄change-account-reference-date-company-current-shortenedaccounts · AA01
- 2022-04-26📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-09-23➕ARMITAGE, Matthew James appointeddirector
- 2019-04-17🔓Charge satisfied #3
- 2019-02-05🔒Charge registered #5Lender: National Westminster Bank PLC
- 2018-11-07🔒Charge registered #4Lender: Rbs Invoice Finance LTD
- 2017-04-21🔓Charge satisfied #2
- 2017-04-21🔓Charge satisfied #1
- 2016-07-08🔒Charge registered #3Lender: Bibby Financial Services Limited (As Security Trustee)
- 2016-03-18🔒Charge registered #2Lender: Close Brothers Limited (The "Security Trustee")
- 2015-10-02🔒Charge registered #1Lender: Hitachi Capital (UK) PLC
- 2015-09-25➖ARMITAGE, Samuel Spencer resigneddirector
- 2015-09-25➖ARMITAGE, Samuel Spencer resigneddirector
- 2015-08-01➕ARMITAGE, Samuel Spencer appointeddirector
- 2015-08-01➕ARMITAGE, Samuel Spencer appointeddirector
- 2013-07-29🏢Company incorporatedAs DIRECT SOURCING INGREDIENTS LIMITED
- 2013-07-29➕ARMITAGE, Samuel Spencer appointeddirector
Owner dependency
66/100
High — earn-out structure requiredMaterial 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.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
41/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- 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
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Matthew James Armitage Individual · British · DOB 03/1980 · age 46 | 50–75% | 50–75% | board control50-75% shares · 50-75% voting · board control | 24/09/2019 |
Mr Samuel Spencer Armitage Individual · British · DOB 03/1987 · age 39 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 13/11/2025 |
1 historic (ceased) PSC
- Mr Samuel Spencer Armitageceased 13/11/2025· 25-50% shares · 25-50% voting · board control
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 · Food & drink · DN postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| ARUNDEL KERR PRODUCE LIMITED→ 03873206 · est 1999 · no financials extracted | — | — | — | — | 26y | — | — |
| CUCKOO BRANDS LTD→ 12238939 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| DIRECT SOURCING MANUFACTURING LTD→ 12497219 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
| DIRTY MOON LTD→ 12446561 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
| DIYAR MEAT LIMITED→ 15181902 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| DOCKS BEERS LIMITED→ 08689169 · est 2013 · no financials extracted | — | — | — | — | 12y | — | — |
| DON VALLEY BREWERY LTD→ 10840738 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| DONCASTER DRY GIN LIMITED→ 11227841 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
| DONCASTER RAW FOODS LTD→ 15811084 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| DOUGHPREPNE LTD→ 15910573 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| DUE SORELLE LIMITED→ 12140863 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| DUNCLIN (MYERS) LTD→ 14925567 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
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
Incorporated2013-07-29
Jurisdictionengland-wales
Primary SIC10890 — SIC 10890
Registered office
1st Floor Chancery Lane
Retford
Nottinghamshire
DN22 6DF
United Kingdom
Filing status
Accounts
Next due: 2026-07-31
Last made up to: 2024-07-31
Confirmation statement
Next due: 2026-12-14
Last: 2025-11-30
Officers (2 active · 2 resigned)
ARMITAGE, Matthew James→
Activedirector · ~46y · appointed 2019-09-23
View their other companies + combined net worth →
ARMITAGE, Samuel Spencer→
Activedirector · ~39y · appointed 2015-08-01
View their other companies + combined net worth →
ARMITAGE, Samuel Spencer→
Resigneddirector · ~46y · appointed 2015-08-01 · resigned 2015-09-25
ARMITAGE, Samuel Spencer→
Resigneddirector · ~46y · appointed 2013-07-29 · resigned 2015-09-25
Click a director name to see their full track record across all companies.
Mortgages & charges
8
Total charges
4
Outstanding
4
Active lenders
Status:Lender:8 of 8 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Ffe Spv (Co. No. 11281716) Ffe Spv Limited (Co. No. 11281716) | A registered charge | 2 properties | 31/03/2023 | — | |
| outstanding | Npif Yhtv Microfinance LP (LP017888) Acting Through Its General Partner Bef-Npif Gp (Co No 10638308) Npif Yhtv Microfinance LP (LP017888) Acting Through Its General Partner Bef-Npif Gp Limited (Co No 10638308) | A registered charge | 2 properties | 31/03/2023 | — | |
| outstanding | Skipton Business Finance Skipton Business Finance Limited | A registered charge | 1 property | 26/01/2023 | — | |
| outstanding | National Westminster Bank National Westminster Bank PLC | A registered charge | — | 05/02/2019 | — | |
| satisfied | NatWest Group Rbs Invoice Finance LTD | A registered charge | — | 07/11/2018 | 31/01/2023 | |
| satisfied | Bibby Financial Services Bibby Financial Services Limited (As Security Trustee) | A registered charge | 4 properties | 08/07/2016 | 17/04/2019 | |
| satisfied | Close Brothers Close Brothers Limited (The "Security Trustee") | A registered charge | — | 18/03/2016 | 21/04/2017 | |
| satisfied | Hitachi Capital (UK) Hitachi Capital (UK) PLC | A registered charge | 1 property | 02/10/2015 | 21/04/2017 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (72 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-07
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-11-13
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-11-13
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-11-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-04-30
confirmation-statement-with-updates
confirmation-statement · CS01
2024-12-30
capital-allotment-shares
capital · SH01
2024-12-23
capital-allotment-shares
capital · SH01
2024-12-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-07-30
change-to-a-person-with-significant-control-without-name-date
persons-with-significant-control · PSC04
2024-04-30
change-person-director-company-with-change-date
officers · CH01
2024-04-29
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-04-29
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-04-29
change-person-director-company-with-change-date
officers · CH01
2024-04-29
change-account-reference-date-company-previous-extended
accounts · AA01
2023-12-21