ASF 20 LTD

💤Zombieactive
12869067 · ltd · incorporated 2020-09-09
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 Feb 2025
Net worth
£121.1k
book net assets
Opportunity
76/100
Strong
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What this business does
Primary activity: Accounting and auditing activities
Sector: Professional, scientific & technical
ALSO REGISTERED FOR
  • 70229Management consultancy activities other than financial management
Investor take
Pursue
Asset-holding vehicle with a 68-year-old founder — textbook succession opportunity.

Opportunity 76/100 (strong), bankability 75/100. Strong seller-intent signal (60/100, director aged 68). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Deleverage or restructure. Leverage at 100% of assets — consider sale of non-core assets or equity injection. 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, 2 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
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
15 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
Positive net assets
Net assets £121,133
High leverage
Liabilities are 100% of total assets
Net assets shrinking
Down £8,258 YoY
Leverage
100%
Liabilities / Total assets

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
£121k
↓ 6.4% YoY
Current Assets
£76k
↓ 1.3% YoY
Current Liabilities
£0£26k£52k£78k£104k£129kFeb 2024Feb 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-02-282024-02-29
Total assets£173.5k£160.7k
Current assets£76.2k£77.3k
Cash£77.3k
Net assets£121.1k£129.4k

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 (12 events)Click to expand
  1. 2025-11-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-11-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2023-11-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-05-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2021-09-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  6. 2021-01-19
    📄
    resolution
    resolution · RESOLUTIONS
  7. 2021-01-19
    📄
    memorandum-articles
    incorporation · MA
  8. 2021-01-18
    📄
    capital-name-of-class-of-shares
    capital · SH08
  9. 2020-11-10
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  10. 2020-09-09
    🏢
    Company incorporated
    As ASF 20 LTD
  11. 2020-09-09
    ATKINSON, Richard appointed
    director
  12. 2020-09-09
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

95/100
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.
  • +Founder age: Director aged approximately 68 — succession pressure is live.
  • +No director turnover: Company is 6 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

65/100
Strong succession signal

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 68. Approaching typical UK retirement age — succession thinking likely.
  • 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

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Richard Atkinson
Individual · British · DOB 12/1958 · age 68
5075%
50–75%board control50-75% shares · 50-75% voting · board control09/09/2020
Karen Atkinson
Individual · British · DOB 03/1963 · age 63
2550%
25–50%25-50% shares · 25-50% voting09/09/2020

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 →

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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.

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Company details

Statusactive
Typeltd
Incorporated2020-09-09
Jurisdictionengland-wales
Primary SIC69201 — Accounting and auditing activities

Registered office

Hawthorns Scarle Lane
Eagle
Lincoln
Lincolnshire
LN6 9EJ
United Kingdom

Filing status

Accounts
Next due: 2026-11-30
Last made up to: 2025-02-28
Confirmation statement
Next due: 2026-09-22
Last: 2025-09-08

Officers (1 active · 0 resigned)

ATKINSON, Richard
director · ~68y · appointed 2020-09-09
View their other companies + combined net worth →
Active

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

Recent filings (15 total)

accounts-with-accounts-type-micro-entity
accounts · AA
2025-11-28
confirmation-statement-with-updates
confirmation-statement · CS01
2025-09-16
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-11-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-09-14
accounts-with-accounts-type-micro-entity
accounts · AA
2022-05-31
confirmation-statement-with-updates
confirmation-statement · CS01
2021-09-10
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2021-09-10
resolution
resolution · RESOLUTIONS
2021-01-19
memorandum-articles
incorporation · MA
2021-01-19
capital-name-of-class-of-shares
capital · SH08
2021-01-18
change-account-reference-date-company-current-extended
accounts · AA01
2020-11-10
incorporation-company
incorporation · NEWINC
2020-09-09