ADI RACING LTD
🌿Early-stageactive
14438693 · ltd · incorporated 2022-10-24
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 Oct 2025
Net worth
£-627.0k
book net assets
Opportunity
71/100
Strong
What this business does
Primary activity: Other sports activities
Sector: Arts, entertainment & recreation
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 71/100 (strong), bankability 70/100. High owner-dependency — earn-out structure likely required for clean transition. 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
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
10 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
71/100Strong
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
85
Few red flags.
Signal strength
90
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredNegative net assets
Liabilities exceed assets by £627,020
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
-£627k
↓ 8.5% YoY
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-10-31 | 2024-10-31 |
|---|---|---|
| Total assets | £-627.0k | £-577.9k |
| Debtors | — | £9.4k |
| Net assets | £-627.0k | £-577.9k |
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
1
filing
- • 1 accounts
Last 180 days
1
filing
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (10 events)Click to expand
- 2026-04-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-07-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-18📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-07-11📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-12-10📄capital-alter-shares-consolidationcapital · SH02
- 2023-10-06📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-10-24🏢Company incorporatedAs ADI RACING LTD
- 2022-10-24➕KULKARNI, Medinee appointeddirector
- 2022-10-24➕KULKARNI, Pankaj appointeddirector
- 2022-10-24📄incorporation-companyincorporation · NEWINC
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.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
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
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Pankaj Kulkarni Individual · British · DOB 05/1974 · age 52 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 24/10/2022 |
Mrs Medinee Kulkarni Individual · British · DOB 05/1977 · age 49 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 24/10/2022 |
1 historic (ceased) PSC
- Mr Aditya Kulkarniceased 22/09/2023· 25-50% shares · 25-50% voting · board control
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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|---|---|---|---|---|---|---|---|
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| AL FARIS TOURISM LTD→ 15143253 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| AL WAHAB TOURS LIMITED→ 10492964 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| ALADDIN MANAGEMENT LIMITED→ 03379690 · est 1997 · no financials extracted | — | — | — | — | 28y | — | — |
| ALEX LANYON LIMITED→ 15649115 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| ALIS DOJANG LTD→ 10473197 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| ALISON ROBERTS LIMITED→ 04792748 · est 2003 · no financials extracted | — | — | — | — | 22y | — | — |
| ALL ABOARD SHIP AHOY LIMITED→ 11861883 · est 2019 · no financials extracted | — | — | — | — | 7y | — | — |
| ALL GLAMOUR LTD→ 11336247 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| ALL SPORTS LONDON LIMITED→ 08468811 · est 2013 · no financials extracted | — | — | — | — | 13y | — | — |
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
Incorporated2022-10-24
Jurisdictionengland-wales
Primary SIC93199 — Other sports activities
Registered office
2 Jardine House Harrovian Business Village
Bessborough Road
Harrow
HA1 3EX
England
Filing status
Accounts
Next due: 2027-07-31
Last made up to: 2025-10-31
Confirmation statement
Next due: 2026-11-03
Last: 2025-10-20
Officers (2 active · 0 resigned)
KULKARNI, Medinee→
Activedirector · ~49y · appointed 2022-10-24
View their other companies + combined net worth →
KULKARNI, Pankaj→
Activedirector · ~52y · appointed 2022-10-24
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Recent filings (10 total)
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-04-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-07-30
confirmation-statement-with-updates
confirmation-statement · CS01
2024-12-19
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-12-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-07-11
capital-alter-shares-consolidation
capital · SH02
2023-12-10
confirmation-statement-with-updates
confirmation-statement · CS01
2023-10-20
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-06
incorporation-company
incorporation · NEWINC
2022-10-24