AF & L LTD

💤Zombieactive
11380123 · ltd · incorporated 2018-05-24
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
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Turnover
year to Mar 2026
Net worth
£-29.2k
book net assets
Opportunity
76/100
Strong
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What this business does
Primary activity: Financial leasing
Sector: Financial & insurance
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 76/100 (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: Cash flow review and working-capital discipline. Cash down -61% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

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
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
1 connected companies via shared directors
48
Filing history
17 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
76/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
65
Adequate — check latest filings for context.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
85
Few red 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 £29,205
Cash draining
Cash down 61% YoY
Cash YoY
-61%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£19k
↓ 61% YoY
Net Worth
-£29k
↑ 30% YoY
Current Assets
£59k
↓ 37% YoY
Current Liabilities
-£42k-£15k£12k£39k£66k£93kMar 2025Mar 2026

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2026-03-312025-03-31
Total assets£-29.2k£-41.1k
Current assets£58.9k£93.2k
Cash£19.1k£49.1k
Debtors£39.8k£43.9k
Net assets£-29.2k£-41.9k

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
1
filing
  • 1 accounts
Last 90 days
1
filing
  • 1 accounts
Last 180 days
1
filing
  • 1 accounts
Counts from Companies House filing history.
Corporate timeline (12 events)Click to expand
  1. 2026-05-12
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2025-06-06
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2024-09-11
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  4. 2023-12-12
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  5. 2022-09-14
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  6. 2021-12-15
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  7. 2020-09-07
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  8. 2020-02-05
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  9. 2020-01-21
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  10. 2018-05-24
    🏢
    Company incorporated
    As AF & L LTD
  11. 2018-05-24
    CARLIN, Paul appointed
    director
  12. 2018-05-24
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

88/100
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.
  • +Senior director age: Director aged approximately 61 — approaching natural succession window.
  • +No director turnover: Company is 8 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

55/100
Strong succession signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

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

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Paul Carlin
Individual · British · DOB 11/1965 · age 61
75100%
75–100%75-100% shares · 75-100% voting24/05/2018

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.

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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
Incorporated2018-05-24
Jurisdictionengland-wales
Primary SIC64910 — Financial leasing

Registered office

207 Knutsford Road Grappenhall
Warrington
Cheshire
WA4 2QL
United Kingdom

Filing status

Accounts
Next due: 2027-12-31
Last made up to: 2026-03-31
Confirmation statement
Next due: 2026-06-06
Last: 2025-05-23

Officers (1 active · 0 resigned)

CARLIN, Paul
director · ~61y · appointed 2018-05-24
View their other companies + combined net worth →
Active

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

Recent filings (17 total)

accounts-with-accounts-type-unaudited-abridged
accounts · AA
2026-05-12
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-06-06
confirmation-statement-with-updates
confirmation-statement · CS01
2025-05-23
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-09-11
confirmation-statement-with-updates
confirmation-statement · CS01
2024-05-23
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-12-12
confirmation-statement-with-updates
confirmation-statement · CS01
2023-05-23
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-09-14
confirmation-statement-with-updates
confirmation-statement · CS01
2022-05-23
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-12-15
confirmation-statement-with-updates
confirmation-statement · CS01
2021-05-24
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-09-07
confirmation-statement-with-updates
confirmation-statement · CS01
2020-05-26
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-02-05
change-account-reference-date-company-previous-shortened
accounts · AA01
2020-01-21