ADRO PROPERTY LTD
🏛️Establishedactive
11911855 · ltd · incorporated 2019-03-28
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 Mar 2025
Net worth
£79.8k
book net assets
Opportunity
78/100
Strong
What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
ALSO REGISTERED FOR
- 68201Renting and operating of Housing Association real estate
- 68209Other letting and operating of own or leased real estate
- 68320Management of real estate on a fee or contract basis
Investor take
PursueProperty-backed borrower with a 66-year-old founder — textbook succession opportunity.
Opportunity 78/100 (strong), bankability 57/100. Strong seller-intent signal (60/100, director aged 66). 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 6.9y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 6.9 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: medium (78/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Company profile
address, 4 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
3 officers (2 active, 3 linked, 3 with DOB)
90
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
23 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation
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 →Opportunity Score
78/100Strong
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
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £79,770
Net assets shrinking
Down £4,488 YoY
Cash YoY
+8%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£7k
↑ 8.5% YoY
Net Worth
£80k
↓ 5.3% YoY
Current Assets
£8k
↑ 11% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £299.5k | £308.7k |
| Current assets | £8.0k | £7.2k |
| Cash | £6.9k | £6.3k |
| Debtors | £1.1k | £874 |
| Net assets | £79.8k | £84.3k |
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
0
filings
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
- 2025-11-24📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-11-21🔒Charge registered #4Lender: Kensington Mortgage Company Limited
- 2025-06-06📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-09-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-09-23🔒Charge registered #3Lender: Fleet Mortgages Limited
- 2024-08-01📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-07-26📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2024-07-25📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-11-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-12-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-12-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-04-01📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2021-04-01🔒Charge registered #2Lender: Pepper Money Limited
- 2020-12-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-10-20📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2020-10-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2020-10-05➖ENCARNACAO, Joaquim resigneddirector
- 2019-08-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2019-08-23🔒Charge registered #1Lender: Fleet Mortgages Limited
- 2019-03-28🏢Company incorporatedAs ADRO PROPERTY LTD
- 2019-03-28➕ASPINALL DA ENCARNACAO, Adam appointeddirector
- 2019-03-28➕ASPINALL DA ENCARNACAO, Debra appointeddirector
- 2019-03-28➕ENCARNACAO, Joaquim appointeddirector
- 2019-03-28📄incorporation-companyincorporation · NEWINC
Owner dependency
81/100
Critical — business is the founderThe business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
- +Founder age: Director aged approximately 66 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
56/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 66. Approaching typical UK retirement age — succession thinking likely.
- 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.)
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Adam Aspinall Da Encarnacao Individual · British · DOB 11/1991 · age 35 | 75–100% | — | 75-100% shares | 28/03/2019 |
2 historic (ceased) PSCs
- Mrs Debra Aspinall Da Encarnacaoceased 01/04/2024· 25-50% shares
- Mr Joaquim Encarnacaoceased 20/10/2020· 25-50% shares
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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| AFFINITY HAYES LTD→ 15477084 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
9 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
Incorporated2019-03-28
Jurisdictionengland-wales
Primary SIC68100 — Buying and selling of own real estate
Registered office
28 Bay Tree Close
High Wycombe
Bucks
HP11 1JN
England
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-08-16
Last: 2025-08-02
Officers (2 active · 1 resigned)
ASPINALL DA ENCARNACAO, Adam→
Activedirector · ~35y · appointed 2019-03-28
View their other companies + combined net worth →
ASPINALL DA ENCARNACAO, Debra→
Activedirector · ~66y · appointed 2019-03-28
View their other companies + combined net worth →
ENCARNACAO, Joaquim→
Resigneddirector · ~72y · appointed 2019-03-28 · resigned 2020-10-05
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 | Kensington Mortgage Company Kensington Mortgage Company Limited | A registered charge | 1 property | 21/11/2025 | — | |
| outstanding | Fleet Mortgages Fleet Mortgages Limited | A registered charge | 1 property | 23/09/2024 | — | |
| outstanding | Pepper Money Pepper Money Limited | A registered charge | 1 property | 01/04/2021 | — | |
| outstanding | Fleet Mortgages Fleet Mortgages Limited | A registered charge | 1 property | 23/08/2019 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (23 total)
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-11-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-08-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-06-06
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-09-23
confirmation-statement-with-updates
confirmation-statement · CS01
2024-08-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-08-01
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-07-26
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-07-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-11-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-22
confirmation-statement-with-updates
confirmation-statement · CS01
2021-11-12
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-04-01