28 STATE LIMITED
Opportunity 73/100 (strong), 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: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (58/100).
Refinance opportunity
2 live charges · oldest 5.2y
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 5.2 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: high (81/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
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 →Solid opportunity signal. Worth a dedicated memo and management meeting.
Signals from accounts
Derived from iXBRL accounts · FRS 105 (micro)Key financials
2 years extracted from filed iXBRL accountsHover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 105 (micro)| Metric | 2024-12-31 | 2023-12-31 |
|---|---|---|
| Total assets | £53.2k | £58.3k |
| Current assets | £9.5k | £8.7k |
| Net assets | £25.6k | £14.3k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
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
Corporate timeline (19 events)Click to expand
- 2025-09-10📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2025-06-30📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-09-27📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-11-09📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-09-18📄change-account-reference-date-company-previous-shortenedaccounts · AA01
- 2022-08-31📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-09-24📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-04-07📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2021-03-31🔒Charge registered #2Lender: Barclays Security Trustee Limited
- 2021-03-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2021-03-12🔒Charge registered #1Lender: Barclays Security Trustee Limited
- 2020-09-28📄accounts-with-accounts-type-dormantaccounts · AA
- 2020-07-16📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2019-12-16📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2019-08-13📄accounts-with-accounts-type-dormantaccounts · AA
- 2018-11-21📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2017-12-04🏢Company incorporatedAs 28 STATE LIMITED
- 2017-12-04➕MACDONALD, Jill Victoria appointeddirector
- 2017-12-04📄incorporation-companyincorporation · NEWINC
Owner dependency
The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
- +Sole director: Only one active director — all governance concentrated on one person.
- +No director turnover: Company is 8 years old with no director changes — suggests a very tight-knit founder team never broadened.
Succession & seller-readiness
Some succession indicators present. Worth watching; approach if sector/strategy fits.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
cleanShareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mrs Jill Victoria Macdonald Individual · British · DOB 07/1970 · age 56 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 04/12/2017 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
See pricing →Similar companies
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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 →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
Registered office
Filing status
Officers (1 active · 0 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Barclays Barclays Security Trustee Limited | A registered charge | 1 property | 31/03/2021 | — | |
| outstanding | Barclays Barclays Security Trustee Limited | A registered charge | — | 12/03/2021 | — |