BLACKTHORN LTD
🌿Early-stageactive
14259105 · ltd · incorporated 2022-07-27
Investment thesis
Growth-phase business — story-led; valuation sensitive to momentum.
Why interesting: Trading is scaling; acquirers paying for trajectory get disproportionate leverage.
Why risky: Price often leads fundamentals; dependency on founder often high.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£-718.7k
book net assets
Opportunity
70/100
Strong
What this business does
Primary activity: SIC 45200
Sector: Wholesale & retail
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 70/100 (strong), bankability 70/100. Share purchase looks the cleaner deal structure. Most likely exit: distressed disposal / insolvency (65/100).
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, 1 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 (2 active, 4 linked, 4 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
21 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
70/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
60
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Negative net assets
Liabilities exceed assets by £718,746
Net assets shrinking
Down £731,001 YoY
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
-£719k
↓ 5965% YoY
Current Assets
£694k
↓ 6.2% 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 | £-274.0k | £226.0k |
| Current assets | £693.8k | £739.9k |
| Cash | — | £122.7k |
| Debtors | £693.8k | £617.2k |
| Net assets | £-718.7k | £12.3k |
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
3
filings
- • 2 officers
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
- 2026-03-22📄appoint-person-director-company-with-name-dateofficers · AP01
- 2026-03-22📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-03-10➕DRAPER, Julien Pierre appointeddirector
- 2026-02-28➖BOVET, Claude resigneddirector
- 2025-12-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-01-13➖MCDONALD, David William resigneddirector
- 2025-01-13📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-12-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-01-17📄change-person-director-company-with-change-dateofficers · CH01
- 2024-01-17📄change-person-director-company-with-change-dateofficers · CH01
- 2024-01-17📄change-person-director-company-with-change-dateofficers · CH01
- 2023-12-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-04-22📄capital-alter-shares-subdivisioncapital · SH02
- 2023-03-17📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-03-17📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-03-17📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2023-03-05➕BOVET, Claude appointeddirector
- 2023-02-24📄change-account-reference-date-company-current-shortenedaccounts · AA01
- 2023-01-12📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-01-12📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-01-01➕MCDONALD, David William appointeddirector
- 2022-07-27🏢Company incorporatedAs BLACKTHORN LTD
- 2022-07-27➕JEAL, Daniel Christopher appointeddirector
- 2022-07-27📄incorporation-companyincorporation · NEWINC
Owner dependency
58/100
Moderate — manageable with handoverSome founder dependency, but not acute. A structured handover period should cover most risk.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
Succession & seller-readiness
36/100
Weak signalLimited succession signal. Not a near-term off-market candidate.
SIGNALS
- 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 Claude Bovet Individual · Swiss · DOB 04/1965 · age 61 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 01/03/2023 |
1 historic (ceased) PSC
- Mr Daniel Christopher Jealceased 28/02/2023· 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.
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| BLACKTHORN PERFORMANCE CARS LTD→ 16326582 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| BOARS HILL MOTOR SERVICES LIMITED→ 15727417 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| BODY TECH LIMITED→ 14377878 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| BORG & BECK LTD→ 11881303 · est 2019 · no financials extracted | — | — | — | — | 7y | — | — |
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
7 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
Incorporated2022-07-27
Jurisdictionengland-wales
Primary SIC45200 — SIC 45200
Registered office
The Station Yard Station Road
Shipton-Under-Wychwood
Chipping Norton
Oxfordshire
OX7 6BH
England
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-18
Last: 2026-03-04
Officers (2 active · 2 resigned)
DRAPER, Julien Pierre→
Activedirector · ~41y · appointed 2026-03-10
View their other companies + combined net worth →
JEAL, Daniel Christopher→
Activedirector · ~45y · appointed 2022-07-27
View their other companies + combined net worth →
BOVET, Claude→
Resigneddirector · ~61y · appointed 2023-03-05 · resigned 2026-02-28
MCDONALD, David William→
Resigneddirector · ~37y · appointed 2023-01-01 · resigned 2025-01-13
Click a director name to see their full track record across all companies.
Recent filings (21 total)
appoint-person-director-company-with-name-date
officers · AP01
2026-03-22
termination-director-company-with-name-termination-date
officers · TM01
2026-03-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-01
termination-director-company-with-name-termination-date
officers · TM01
2025-01-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-31
confirmation-statement-with-updates
confirmation-statement · CS01
2024-04-15
change-person-director-company-with-change-date
officers · CH01
2024-01-17
change-person-director-company-with-change-date
officers · CH01
2024-01-17
change-person-director-company-with-change-date
officers · CH01
2024-01-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-18
capital-alter-shares-subdivision
capital · SH02
2023-04-22
confirmation-statement-with-updates
confirmation-statement · CS01
2023-03-30
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-03-17