ARDMORE SEARCH PARTNERS LIMITED
Opportunity 72/100 (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 -39% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).
Data confidence
Overall: medium (79/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredKey financials
2 years extracted from filed iXBRL accountsHover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-10-31 | 2023-10-31 |
|---|---|---|
| Total assets | £1.73M | £2.78M |
| Current assets | £1.93M | £3.14M |
| Cash | £1.66M | £2.72M |
| Debtors | £273.3k | £417.2k |
| Net assets | £1.73M | £2.78M |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
2 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
- • 1 address
- • 1 address
- • 1 address
Corporate timeline (21 events)Click to expand
- 2026-06-29📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2025-10-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2025-06-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-07-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-07-05📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-02-14📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-11-20📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-11-20📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-11-20📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2023-07-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-10-25📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2022-10-25📄change-person-director-company-with-change-dateofficers · CH01
- 2022-07-26📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-07-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-07-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-02-22📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2019-02-22📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2019-02-22📄capital-name-of-class-of-sharescapital · SH08
- 2019-01-16➕FORSEY, Jason Ryan appointeddirector
- 2018-10-22🏢Company incorporatedAs ARDMORE SEARCH PARTNERS LIMITED
- 2018-10-22➕LINDSAY, Thomas Christopher appointeddirector
Owner dependency
Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
- +No director turnover: Company is 8 years old with no director changes — suggests a very tight-knit founder team never broadened.
Succession & seller-readiness
Limited succession signal. Not a near-term off-market candidate.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
cleanGroup structure
Tcl Holdco Limited holds majority control (50-75%). Likely parent but not wholly-owned.
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 |
|---|---|---|---|---|
Tcl Holdco Limited Corporate entity | 50–75% | 50–75% | board control50-75% shares · 50-75% voting · board control | 06/11/2023 |
Jason Ryan Forsey Individual · Canadian · DOB 02/1985 · age 41 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 15/02/2019 |
1 historic (ceased) PSC
- Mr Thomas Christopher Lindsayceased 06/11/2023· 75-100% shares · 75-100% voting · board control
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.
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6 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 (2 active · 0 resigned)
Click a director name to see their full track record across all companies.