AA2 LTD

💤Zombieactive
10899773 · ltd · incorporated 2017-08-04
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
Upgrade to see
Turnover
year to Aug 2025
Net worth
£420
book net assets
Opportunity
69/100
Strong
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What this business does
Primary activity: Other business support service activities n.e.c.
Sector: Administrative & support services
Investor take
Pursue
Asset-holding vehicle. Reasonable fundamentals — worth a memo before deciding.

Opportunity 69/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Deleverage or restructure. Leverage at 100% of assets — consider sale of non-core assets or equity injection. Most likely exit: share sale to pe / searcher (58/100).

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
Confirmed no charges registered
85
Directors & officers
1 officers (1 active, 1 linked, 1 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
26 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
69/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
65
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £420
High leverage
Liabilities are 100% of total assets
Net assets shrinking
Down £817 YoY
Leverage
100%
Liabilities / Total assets

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
£420
↓ 66% YoY
Current Assets
£14k
↓ 1.8% YoY
Current Liabilities
£0£3k£6k£8k£11k£14kAug 2024Aug 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-08-312024-08-31
Total assets£16.6k£17.1k
Current assets£13.6k£13.9k
Net assets£420£1.2k

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
1
filing
  • 1 accounts
Counts from Companies House filing history.
Corporate timeline (18 events)Click to expand
  1. 2026-01-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2025-03-03
    ✏️
    certificate-change-of-name-company
    change-of-name · CERTNM
  3. 2025-02-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2024-01-30
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2023-01-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2021-12-10
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2021-03-31
    📄
    change-person-director-company-with-change-date
    officers · CH01
  8. 2021-03-31
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  9. 2020-10-12
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2020-05-12
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  11. 2019-11-14
    📄
    accounts-amended-with-accounts-type-micro-entity
    accounts · AAMD
  12. 2019-10-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2019-10-22
    📄
    capital-allotment-shares
    capital · SH01
  14. 2019-04-15
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  15. 2019-04-05
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2018-08-02
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  17. 2017-08-04
    🏢
    Company incorporated
    As AA2 LTD
  18. 2017-08-04
    DUGAN, Martin appointed
    director

Owner dependency

80/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +No director turnover: Company is 9 years old with no director changes — suggests a very tight-knit founder team never broadened.

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 med ·
Name changed recently
medium

Name changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.

Evidence: 2025-03-03: certificate-change-of-name-company

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Martin Dugan
Individual · British · DOB 06/1982 · age 44
75100%
75–100%board controlsig. influence75-100% shares · 75-100% voting · board control · significant influence · firm interest04/08/2017

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

8 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
Incorporated2017-08-04
Jurisdictionengland-wales
Primary SIC82990 — Other business support service activities n.e.c.

Registered office

68 Bowman House Whitehill Lane
Royal Wootton Bassett
Swindon
Wiltshire
SN4 7DB
England

Filing status

Accounts
Next due: 2027-05-31
Last made up to: 2025-08-31
Confirmation statement
Next due: 2026-11-05
Last: 2025-10-22

Officers (1 active · 0 resigned)

DUGAN, Martin
director · ~44y · appointed 2017-08-04
View their other companies + combined net worth →
Active

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

Recent filings (26 total)

accounts-with-accounts-type-micro-entity
accounts · AA
2026-01-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-05
certificate-change-of-name-company
change-of-name · CERTNM
2025-03-03
accounts-with-accounts-type-micro-entity
accounts · AA
2025-02-28
confirmation-statement-with-updates
confirmation-statement · CS01
2024-10-22
accounts-with-accounts-type-micro-entity
accounts · AA
2024-01-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-06
accounts-with-accounts-type-micro-entity
accounts · AA
2023-01-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-11-02
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-05
change-person-director-company-with-change-date
officers · CH01
2021-03-31
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2021-03-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-22
accounts-with-accounts-type-micro-entity
accounts · AA
2020-10-12