46 START LTD.
🏛️Establishedactive
10723918 · ltd · incorporated 2017-04-13
Investment thesis
Property vehicle with leveraged stack — refinance / partial-release angle.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 8.1y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Apr 2025
Net worth
—
book net assets
Opportunity
74/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueStrong opportunity: property-backed borrower with strong profile and bankable structure.
Opportunity 74/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
3 live charges · 2 lenders · oldest 8.1y
70/100
ready
Refinance conversation should be productive — structure clean and timing right.
- · Oldest live charge is 8.1 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Legal-friction score 15/100 — clean.
Data confidence
Overall: medium (78/100)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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
21 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
65
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-04-30 | 2024-04-30 |
|---|---|---|
| Average employees | 0 | 0 |
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 confirmation-statement
Last 180 days
2
filings
- • 1 confirmation-statement
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (18 events)Click to expand
- 2026-01-27📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2025-01-27📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-01-15📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-05-04📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-05-02🔒Charge registered #3Lender: The Mortgage Works (UK) PLC
- 2023-01-30📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-01-27📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-02-12📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-01-30📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2019-01-11📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2018-04-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2018-04-20📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2018-04-20🔒Charge registered #2Lender: Family Building Society a Trading Name of National Counties Building Society
- 2018-04-19🔒Charge registered #1Lender: Family Building Society a Trading Name of National Counties Building Society
- 2017-04-13🏢Company incorporatedAs 46 START LTD.
- 2017-04-13➕WAN, Christopher Kwok Hau, Mr. appointeddirector
- 2017-04-13➕WAN, Nicholas Kwok Sun, Mr. appointeddirector
- 2017-04-13📄incorporation-companyincorporation · NEWINC
Owner dependency
63/100
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.
- +No director turnover: Company is 9 years old with no director changes — suggests a very tight-knit founder team never broadened.
Succession & seller-readiness
36/100
Weak signalLimited succession signal. Not a near-term off-market candidate.
SIGNALS
- 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.)
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr. Nicholas Kwok Sun Wan Individual · British · DOB 06/1986 · age 40 | 25–50% | — | 25-50% shares | 13/04/2017 |
Mr. Christopher Kwok Hau Wan Individual · British · DOB 08/1984 · age 42 | 25–50% | — | 25-50% shares | 13/04/2017 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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| 29S PROPERTIES LTD→ 15992155 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| 2M INVESTMENT LIMITED→ 15551659 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
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| 2S 4B LTD→ 15323364 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| 3AR LTD→ 15793373 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| 3G&K LIMITED→ 16733218 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| 3R BUILDINGS LIMITED→ 12996234 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| 3REPUBLIC LTD→ 15950914 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| 42 BEDFORD STREET LTD→ 16143732 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| 424 PROPERTY LTD→ 14006700 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
| 4B ENTERPRISES LIMITED→ 05838960 · est 2006 · no financials extracted | — | — | — | — | 19y | — | — |
| 4D ESTATE HOLDINGS LTD→ 16172794 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
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
Incorporated2017-04-13
Jurisdictionengland-wales
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
8 Main Street
Bilton
Rugby
Warwickshire
CV22 7NB
United Kingdom
Filing status
Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2027-03-28
Last: 2026-03-14
Officers (2 active · 0 resigned)
WAN, Christopher Kwok Hau, Mr.→
Activedirector · ~42y · appointed 2017-04-13
View their other companies + combined net worth →
WAN, Nicholas Kwok Sun, Mr.→
Activedirector · ~40y · appointed 2017-04-13
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Mortgages & charges
3
Total charges
3
Outstanding
2
Active lenders
Status:Lender:3 of 3 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | The Mortgage Works (UK) The Mortgage Works (UK) PLC | A registered charge | 1 property | 02/05/2023 | — | |
| outstanding | Family Building Society a Trading Name of National Counties Building Society | A registered charge | 1 property | 20/04/2018 | — | |
| outstanding | Family Building Society a Trading Name of National Counties Building Society | A registered charge | 1 property | 19/04/2018 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (21 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-31
accounts-with-accounts-type-micro-entity
accounts · AA
2026-01-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-01
accounts-with-accounts-type-micro-entity
accounts · AA
2025-01-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-28
accounts-with-accounts-type-micro-entity
accounts · AA
2024-01-15
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-05-04
confirmation-statement-with-updates
confirmation-statement · CS01
2023-03-14
accounts-with-accounts-type-micro-entity
accounts · AA
2023-01-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-04-13
accounts-with-accounts-type-micro-entity
accounts · AA
2022-01-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-04-16
accounts-with-accounts-type-micro-entity
accounts · AA
2021-02-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-04-27
accounts-with-accounts-type-micro-entity
accounts · AA
2020-01-30