ADPAD (CHURSTON) LTD
🏛️Establishedactive
11442374 · ltd · incorporated 2018-07-02
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.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jan 2025
Net worth
£7.5k
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: Construction of domestic buildings
Sector: Construction
Investor take
PursueStrong opportunity: active trading company with strong profile and acceptable with review structure.
Opportunity 79/100 (strong), bankability 57/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
4 live charges · 3 lenders · oldest 5.7y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 5.7 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Legal-friction score 25/100 — workable, but lender will want more DD.
Data confidence
Overall: high (84/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
14 connected companies via shared directors
87
Filing history
28 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
65
Adequate — check latest filings for context.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Positive net assets
Net assets £7,513
Cash YoY
-12%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£5k
↓ 12% YoY
Net Worth
£8k
↑ 227% YoY
Current Assets
£42k
↓ 81% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-01-31 | 2024-01-31 |
|---|---|---|
| Total assets | £7.5k | £-5.9k |
| Current assets | £41.9k | £220.0k |
| Cash | £5.3k | £6.0k |
| Debtors | £36.6k | — |
| Net assets | £7.5k | £-5.9k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
4 signals 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 (26 events)Click to expand
- 2025-11-14📄change-person-director-company-with-change-dateofficers · CH01
- 2025-10-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-10-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-10-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-04-25📄change-account-reference-date-company-previous-extendedaccounts · AA01
- 2022-04-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-10-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2020-10-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2020-10-22📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2020-10-22📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2020-10-20🔒Charge registered #4Lender: Close Brothers Limited
- 2020-10-20🔒Charge registered #3Lender: Close Brothers Limited
- 2020-10-20🔒Charge registered #2Lender: Adpad Group Limited
- 2020-10-20🔒Charge registered #1Lender: Simon Martyn John Gliddon
- 2020-10-06📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2020-10-06📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2020-10-06📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2020-10-06📄change-person-director-company-with-change-dateofficers · CH01
- 2020-10-06📄change-person-director-company-with-change-dateofficers · CH01
- 2020-09-15📄accounts-with-accounts-type-dormantaccounts · AA
- 2020-07-07📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2020-03-17📄capital-name-of-class-of-sharescapital · SH08
- 2020-03-16📄resolutionresolution · RESOLUTIONS
- 2018-07-02🏢Company incorporatedAs ADPAD (CHURSTON) LTD
- 2018-07-02➕COLLEDGE, Patrick Mark appointeddirector
- 2018-07-02➕GLIDDON, Simon Martyn John appointeddirector
Owner dependency
71/100
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.
- +Senior director age: Director aged approximately 62 — 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
46/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.
- 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.)
Group structure
2 corporate shareholders identified. Group structure is distributed.
🏛️significant stake
The Orchard (Broadway) Limited
Corporate parent · holds 25-50% shares · board control
🏛️significant stake
Adpad Group Limited
Corporate parent · holds 25-50% shares
⬇
ADPAD (CHURSTON) LTD
This company · 11442374
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
The Orchard (Broadway) Limited Corporate entity | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 31/05/2019 |
Adpad Group Limited Corporate entity | 25–50% | 25–50% | 25-50% shares · 25-50% voting · firm interest | 31/05/2019 |
1 historic (ceased) PSC
- Mr Simon Martyn John Gliddonceased 31/05/2019· 25-50% shares
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 →Similar companies
Active · Construction · TQ postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| A L C RENOVATIONS LTD→ 16964094 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| ACLAND PLANT HIRE LIMITED→ 05351534 · est 2005 · no financials extracted | — | — | — | — | 21y | — | — |
| ACOMMO2023 LTD→ 14722090 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| ACONA LTD→ 10363939 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| ACORN BUILDING MAINTENANCE LTD→ 14349977 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| ACR PLASTERING SW LTD→ 16936194 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ADAMORE LIMITED→ 13882235 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
| ADAMS ELECTRICS LTD→ 08818957 · est 2013 · no financials extracted | — | — | — | — | 12y | — | — |
| ADP SW LIMITED→ 13403911 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| ADPAD CONSTRUCTION LIMITED→ 10606036 · est 2017 · no financials extracted | — | — | — | — | 9y | — | — |
| ADS BUILDING MAINTENANCE LTD→ 16277891 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| ADS DRILLING LIMITED→ 04403780 · est 2002 · no financials extracted | — | — | — | — | 24y | — | — |
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
Incorporated2018-07-02
Jurisdictionengland-wales
Primary SIC41202 — Construction of domestic buildings
Registered office
One
Courtenay Park
Newton Abbot
Devon
TQ12 2HD
England
Filing status
Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2026-07-16
Last: 2025-07-02
Officers (2 active · 0 resigned)
COLLEDGE, Patrick Mark→
Activedirector · ~61y · appointed 2018-07-02
View their other companies + combined net worth →
GLIDDON, Simon Martyn John→
Activedirector · ~62y · appointed 2018-07-02
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Mortgages & charges
4
Total charges
4
Outstanding
3
Active lenders
Status:Lender:4 of 4 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Close Brothers Close Brothers Limited | A registered charge | 1 property | 20/10/2020 | — | |
| outstanding | Close Brothers Close Brothers Limited | A registered charge | 1 property | 20/10/2020 | — | |
| outstanding | Adpad Group Adpad Group Limited | A registered charge | 1 property | 20/10/2020 | — | |
| outstanding | Simon Martyn John Gliddon | A registered charge | 1 property | 20/10/2020 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (28 total)
change-person-director-company-with-change-date
officers · CH01
2025-11-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-07-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-07-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-10-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-07-19
change-account-reference-date-company-previous-extended
accounts · AA01
2023-04-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-08-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-04-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-07-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-10-23
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-10-23
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-10-22
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-10-22