ADQ LIMITED

🌳Matureactive
09113028 · ltd · incorporated 2014-07-02
Investment thesis
Property vehicle with a workable charge structure — clean refinance potential.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Dependent on title and valuation due diligence; standard property risks.
🔒Estimated value
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Turnover
year to Jul 2025
Net worth
£190
book net assets
Opportunity
80/100
Exceptional
🔔
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What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Pursue
Strong opportunity: property-backed borrower with exceptional profile and bankable structure.

Opportunity 80/100 (exceptional), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -45% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

1 live charge · oldest 9.6y

45/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 9.6 years old — likely at or near maturity.
  • · 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
3 officers (3 active, 3 linked, 2 with DOB)
83
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
31 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
Opportunity Score
80/100Exceptional
PassWatchWorth a lookStrongExceptional 

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
75
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 declared
Positive net assets
Net assets £190
Cash draining
Cash down 45% YoY
Cash YoY
-45%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£590
↓ 45% YoY
Net Worth
£190
↑ 68% YoY
Current Assets
£90k
↓ 86% YoY
Current Liabilities
£0£129k£258k£387k£516k£645kJul 2024Jul 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-07-312024-07-31
Total assets£190£113
Current assets£90.5k£644.9k
Cash£590£1.1k
Debtors£89.9k£643.9k
Net assets£190£113

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 (20 events)Click to expand
  1. 2026-04-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-07-03
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  3. 2025-04-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2024-04-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2023-04-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-04-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-05-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2020-05-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2019-04-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2018-04-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2017-07-05
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  12. 2017-07-05
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  13. 2017-04-28
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2016-11-10
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  15. 2016-11-10
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  16. 2016-03-23
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  17. 2014-07-02
    🏢
    Company incorporated
    As ADQ LIMITED
  18. 2014-07-02
    QUARTERMAINE, Andrew David appointed
    secretary
  19. 2014-07-02
    QUARTERMAINE, Andrew David appointed
    director
  20. 2014-07-02
    SALES, Philippa 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 64 — approaching natural succession window.

Succession & seller-readiness

61/100
Strong succession signal

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
  • 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Andrew David Quartermaine
Individual · British · DOB 11/1964 · age 62
2550%
25–50%25-50% shares · 25-50% voting06/04/2016
Mrs Philippa Sales
Individual · British · DOB 01/1962 · age 64
2550%
25–50%25-50% shares · 25-50% voting06/04/2016

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
Incorporated2014-07-02
Jurisdictionengland-wales
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

Lennox House
3 Pierrepont Street
Bath
BA1 1LB
United Kingdom

Filing status

Accounts
Next due: 2027-04-30
Last made up to: 2025-07-31
Confirmation statement
Next due: 2026-07-16
Last: 2025-07-02

Officers (3 active · 0 resigned)

QUARTERMAINE, Andrew David
secretary · appointed 2014-07-02
View their other companies + combined net worth →
Active
QUARTERMAINE, Andrew David
director · ~62y · appointed 2014-07-02
View their other companies + combined net worth →
Active
SALES, Philippa
director · ~64y · appointed 2014-07-02
View their other companies + combined net worth →
Active

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
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge10/11/2016
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (31 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-04-30
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-07-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-07-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-04-30
confirmation-statement-with-updates
confirmation-statement · CS01
2024-07-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-04-23
confirmation-statement-with-updates
confirmation-statement · CS01
2023-07-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-30
confirmation-statement-with-updates
confirmation-statement · CS01
2022-07-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-04-29
confirmation-statement-with-updates
confirmation-statement · CS01
2021-07-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-20
confirmation-statement-with-updates
confirmation-statement · CS01
2020-07-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-05-04
confirmation-statement-with-updates
confirmation-statement · CS01
2019-07-02