ADRIATIC FINANCIAL COMPANY LTD

💤Zombieactive
13751583 · ltd · incorporated 2021-11-18
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
Upgrade to see
Turnover
year to Nov 2024
Net worth
£4.50M
book net assets
Opportunity
65/100
Strong
🔔
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What this business does
Primary activity: Activities of financial services holding companies
Sector: Financial & insurance
ALSO REGISTERED FOR
  • 64921Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors
  • 64929Other credit granting n.e.c.
  • 64999Financial intermediation not elsewhere classified
Investor take
Special-situation opportunity
Distressed holding with salvageable qualities — special-situations priority.

Opportunity 65/100 (strong), bankability 70/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Resolve: 1 insolvency-related filing on record. Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding. 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.

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
Confirmed no charges registered
85
Directors & officers
4 officers (1 active, 4 linked, 4 with DOB)
90
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
25 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
65/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
60
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
67
Some moderate concerns — review 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 £4,500,000

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
£4.5m
~ YoY
Current Assets
Current Liabilities
£0£900k£1.8m£2.7m£3.6m£4.5mNov 2023Nov 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-11-302023-11-30
Total assets£4.50M£4.50M
Net assets£4.50M£4.50M

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

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 (28 events)Click to expand
  1. 2025-11-27
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  2. 2025-11-27
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  3. 2025-08-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2025-06-10
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  5. 2025-06-10
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  6. 2025-06-09
    PISANU, Adele appointed
    director
  7. 2025-06-09
    CASATI, Stefano resigned
    director
  8. 2025-02-07
    CASATI, Stefano appointed
    director
  9. 2025-02-07
    NORO, Sergio resigned
    director
  10. 2025-02-07
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  11. 2025-02-07
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  12. 2025-02-07
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  13. 2025-02-07
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  14. 2025-02-03
    📄
    capital-statement-capital-company-with-date-currency-figure
    capital · SH19
  15. 2025-01-30
    📄
    legacy
    capital · SH20
  16. 2025-01-30
    📄
    resolution
    resolution · RESOLUTIONS
  17. 2025-01-29
    ⚠️
    legacy
    insolvency · CAP-SS
  18. 2024-07-30
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  19. 2023-08-30
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  20. 2022-11-02
    NORO, Erik resigned
    director
  21. 2022-11-02
    NORO, Sergio appointed
    director
  22. 2022-11-02
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  23. 2022-11-02
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  24. 2022-11-02
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  25. 2022-11-02
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  26. 2021-11-18
    🏢
    Company incorporated
    As ADRIATIC FINANCIAL COMPANY LTD
  27. 2021-11-18
    NORO, Erik appointed
    director
  28. 2021-11-18
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

75/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

45/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

1 high ·
1 insolvency-related filing on record
high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2025-01-29: legacy

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mrs Adele Pisanu
Individual · Italian · DOB 08/1979 · age 47
75100%
75–100%75-100% shares · 75-100% voting20/11/2025
3 historic (ceased) PSCs
  • Mr Stefano Casaticeased 20/11/2025· 75-100% shares · 75-100% voting
  • Mr Sergio Noroceased 07/02/2025· 75-100% shares
  • Mr Erik Noroceased 02/11/2022· 75-100% shares · 75-100% voting

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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13408166 · est 2021 · no financials extracted
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13513678 · est 2021 · no financials extracted
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15146618 · est 2023 · no financials extracted
2y
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11418575 · est 2018 · no financials extracted
7y
ADDENDUM LIMITED
12951851 · est 2020 · no financials extracted
5y
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16794369 · est 2025 · no financials extracted
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16819318 · est 2025 · no financials extracted
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13514622 · est 2021 · no financials extracted
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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
Incorporated2021-11-18
Jurisdictionengland-wales
Primary SIC64205 — Activities of financial services holding companies

Registered office

27 Old Gloucester Street
London
WC1N 3AX
United Kingdom

Filing status

Accounts
Next due: 2026-08-31
Last made up to: 2024-11-30
Confirmation statement
Next due: 2026-12-11
Last: 2025-11-27

Officers (1 active · 3 resigned)

PISANU, Adele
director · ~47y · appointed 2025-06-09
View their other companies + combined net worth →
Active
CASATI, Stefano
director · ~41y · appointed 2025-02-07 · resigned 2025-06-09
Resigned
NORO, Erik
director · ~27y · appointed 2021-11-18 · resigned 2022-11-02
Resigned
NORO, Sergio
director · ~59y · appointed 2022-11-02 · resigned 2025-02-07
Resigned

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

Recent filings (25 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2025-11-27
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-11-27
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-11-27
accounts-with-accounts-type-micro-entity
accounts · AA
2025-08-29
appoint-person-director-company-with-name-date
officers · AP01
2025-06-10
termination-director-company-with-name-termination-date
officers · TM01
2025-06-10
confirmation-statement-with-updates
confirmation-statement · CS01
2025-02-07
appoint-person-director-company-with-name-date
officers · AP01
2025-02-07
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-02-07
termination-director-company-with-name-termination-date
officers · TM01
2025-02-07
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-02-07
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2025-02-03
legacy
capital · SH20
2025-01-30
resolution
resolution · RESOLUTIONS
2025-01-30
legacy
insolvency · CAP-SS
2025-01-29