DIRECT SOURCING MANUFACTURING LTD
🏛️Establishedactive
12497219 · ltd · incorporated 2020-03-04
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 5.5y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£-115.8k
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: SIC 10890
Sector: Manufacturing
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 79/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
2 live charges · 2 lenders · oldest 5.5y
70/100
ready
Refinance conversation should be productive — structure clean and timing right.
- · Oldest live charge is 5.5 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Legal-friction score 15/100 — clean.
Data confidence
Overall: high (81/100)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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
3 officers (2 active, 3 linked, 3 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
3 connected companies via shared directors
54
Filing history
27 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 102Negative net assets
Liabilities exceed assets by £115,821
Key financials
2 years extracted from filed iXBRL accountsCash
£31k
Net Worth
-£116k
↑ 22% YoY
Current Assets
£255k
↑ 39% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £-64.7k | £-84.9k |
| Current assets | £255.0k | £183.4k |
| Cash | £30.5k | — |
| Debtors | £168.0k | — |
| Net assets | £-115.8k | £-147.6k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
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
Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (27 events)Click to expand
- 2025-12-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-31📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-08-01📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-07-17➖STANNILAND, Jonathan Scott resigneddirector
- 2024-04-29📄change-person-director-company-with-change-dateofficers · CH01
- 2024-04-29📄change-person-director-company-with-change-dateofficers · CH01
- 2024-04-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-04-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-04-29📄change-person-director-company-with-change-dateofficers · CH01
- 2024-04-29📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-01-31📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-01-31📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-01-31🔓Charge satisfied #1
- 2023-01-26🔒Charge registered #2Lender: Skipton Business Finance Limited
- 2022-11-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-04-20📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2021-11-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-08-26📄change-person-director-company-with-change-dateofficers · CH01
- 2021-08-26📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2021-06-03📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-06-03📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-05-12➕FULLER, Martyn Revel appointeddirector
- 2021-05-12➕STANNILAND, Jonathan Scott appointeddirector
- 2021-01-15🔒Charge registered #1Lender: Rbs Invoice Finance LTD
- 2020-03-04🏢Company incorporatedAs DIRECT SOURCING MANUFACTURING LTD
- 2020-03-04➕ARMITAGE, Matthew James appointeddirector
Owner dependency
66/100
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 59 — approaching natural succession window.
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 59. 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.)
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Matthew James Armitage Individual · British · DOB 03/1980 · age 46 | 50–75% | 50–75% | board control50-75% shares · 50-75% voting · board control | 04/03/2020 |
Mr Samuel Spencer Armitage Individual · British · DOB 03/1987 · age 39 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 04/03/2020 |
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
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|---|---|---|---|---|---|---|---|
| DUE SORELLE LIMITED→ 12140863 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| EXCITING FOODS LIMITED→ 03723109 · est 1999 · no financials extracted | — | — | — | — | 27y | — | — |
| FAVOUR POINT GROUP LIMITED→ 16463101 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| FILLET FISH LIMITED→ 05373818 · est 2005 · no financials extracted | — | — | — | — | 21y | — | — |
| FOUR TWENTEA LTD→ 12075667 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| G CANDY LTD→ 14799942 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| G W W COOK LTD→ 16554489 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| G’S KITCHEN LIMITED→ 16649880 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| GALA PAWS LTD→ 16736163 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| GAZEBO FOODS LIMITED→ 16599944 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| GR2E LIMITED→ 15541541 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| GRAYS BUTCHERS LIMITED→ 10614283 · est 2017 · no financials extracted | — | — | — | — | 9y | — | — |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
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 →🔒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
Incorporated2020-03-04
Jurisdictionengland-wales
Primary SIC10890 — SIC 10890
Registered office
1st Floor Chancery Lane
Retford
Nottinghamshire
DN22 6DF
England
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-04-28
Last: 2026-04-14
Officers (2 active · 1 resigned)
ARMITAGE, Matthew James→
Activedirector · ~46y · appointed 2020-03-04
View their other companies + combined net worth →
FULLER, Martyn Revel→
Activedirector · ~59y · appointed 2021-05-12
View their other companies + combined net worth →
STANNILAND, Jonathan Scott→
Resigneddirector · ~46y · appointed 2021-05-12 · resigned 2024-07-17
Click a director name to see their full track record across all companies.
Mortgages & charges
2
Total charges
1
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Skipton Business Finance Skipton Business Finance Limited | A registered charge | 1 property | 26/01/2023 | — | |
| satisfied | NatWest Group Rbs Invoice Finance LTD | A registered charge | — | 15/01/2021 | 31/01/2023 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (27 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-15
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-31
termination-director-company-with-name-termination-date
officers · TM01
2024-08-01
change-person-director-company-with-change-date
officers · CH01
2024-04-29
change-person-director-company-with-change-date
officers · CH01
2024-04-29
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-04-29
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-04-29
change-person-director-company-with-change-date
officers · CH01
2024-04-29
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-04-29
confirmation-statement-with-updates
confirmation-statement · CS01
2024-04-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-21
confirmation-statement-with-updates
confirmation-statement · CS01
2023-04-17
mortgage-satisfy-charge-full
mortgage · MR04
2023-01-31