A WELSH CONNECTION (HOMEWARES) LIMITED

🚨Distressedactive
09779440 · ltd · incorporated 2015-09-16
Investment thesis
Distressed but structurally messy — likely a value trap without major surgery.
Why interesting: Headline may look cheap; sector may be recovering.
Why risky: Critical deal-killers in ownership or security; closing cost and post-deal clean-up likely to dominate.
🔒Estimated value
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Turnover
year to Mar 2024
Net worth
£-24.4k
book net assets
Opportunity
64/100
Worth a look
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What this business does
Primary activity: Wholesale of household goods (other than musical instruments) n.e.c.
Sector: Wholesale & retail
ALSO REGISTERED FOR
  • 47190Other retail sale in non-specialised stores
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 64/100 (worth a look), bankability 55/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: distressed disposal / insolvency (65/100). Current lenders should be on monthly review.

Data confidence

Overall: medium (73/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, 2 SIC codes, incorporation date
100
Financials
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
Confirmed no charges registered
85
Directors & officers
2 officers (1 active, 2 linked, 2 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
5 connected companies via shared directors
60
Filing history
29 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
64/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
55
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
67
Some moderate concerns — review flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Negative net assets
Liabilities exceed assets by £24,442
High leverage
Liabilities are 100% of total assets
Leverage
100%
Liabilities / Total assets

Key financials

1 year extracted from filed iXBRL accounts
Cash
Net Worth
-£24k
Current Assets
£59k
Current Liabilities

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-03-30
Total assets£73.2k
Current assets£59.0k
Net assets£-24.4k

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
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (21 events)Click to expand
  1. 2025-11-13
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  2. 2025-11-13
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  3. 2025-11-01
    CARLYON, Ceri Elizabeth resigned
    director
  4. 2025-03-31
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  5. 2025-03-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2025-02-28
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  7. 2024-12-30
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  8. 2024-10-28
    📄
    change-person-director-company-with-change-date
    officers · CH01
  9. 2023-12-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2023-06-20
    CARLYON, Ceri Elizabeth appointed
    director
  11. 2023-06-20
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  12. 2022-11-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2021-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2021-03-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2020-08-22
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  16. 2020-03-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2019-12-20
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  18. 2019-01-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2018-03-06
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  20. 2015-09-16
    🏢
    Company incorporated
    As A WELSH CONNECTION (HOMEWARES) LIMITED
  21. 2015-09-16
    CARLYON, David Richard appointed
    director

Owner dependency

75/100
High — earn-out structure required

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

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

45/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

1 high ·
Accounts overdue
high

Statutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.

Evidence: Next due: 2026-04-30

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr David Richard Carlyon
Individual · British · DOB 01/1973 · age 53
75100%
sig. influence75-100% shares · significant influence01/06/2016
1 historic (ceased) PSC
  • Mrs Ceri Elizabeth Carlyonceased 01/11/2025· 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 →

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16864701 · est 2025 · no financials extracted
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

10 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
Incorporated2015-09-16
Jurisdictionengland-wales
Primary SIC46499 — Wholesale of household goods (other than musical instruments) n.e.c.

Registered office

6 Ty Coch Industrial Estate
Cwmbran
NP44 7PG
Wales

Filing status

Accounts
Next due: 2026-04-30OVERDUE
Last made up to: 2024-03-30
Confirmation statement
Next due: 2026-09-29
Last: 2025-09-15

Officers (1 active · 1 resigned)

CARLYON, David Richard
director · ~53y · appointed 2015-09-16
View their other companies + combined net worth →
Active
CARLYON, Ceri Elizabeth
director · ~48y · appointed 2023-06-20 · resigned 2025-11-01
Resigned

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

Recent filings (29 total)

cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-11-13
termination-director-company-with-name-termination-date
officers · TM01
2025-11-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-30
change-account-reference-date-company-current-extended
accounts · AA01
2025-03-31
accounts-with-accounts-type-micro-entity
accounts · AA
2025-03-29
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-02-28
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2024-12-30
change-person-director-company-with-change-date
officers · CH01
2024-10-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-01
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-21
confirmation-statement-with-updates
confirmation-statement · CS01
2023-10-20
appoint-person-director-company-with-name-date
officers · AP01
2023-06-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-17