COVERNANT LTD
Opportunity 67/100 (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: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: strategic trade sale (65/100).
Data confidence
Overall: high (80/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Key financials
2 years extracted from filed iXBRL accountsHover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-07-31 | 2024-07-31 |
|---|---|---|
| Average employees | 2 | — |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
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
- • 1 confirmation-statement
- • 1 officers
- • 1 persons-with-significant-control
- • 1 confirmation-statement
- • 1 officers
- • 1 persons-with-significant-control
Corporate timeline (22 events)Click to expand
- 2026-03-29📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-03-24📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2026-03-18➖FOURIE, Amber-Jade resigneddirector
- 2026-02-12📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-05-07✏️certificate-change-of-name-companychange-of-name · CERTNM
- 2025-04-14📄accounts-with-accounts-type-dormantaccounts · AA
- 2025-04-07✏️certificate-change-of-name-companychange-of-name · CERTNM
- 2025-02-19➕FOURIE, Marnus appointeddirector
- 2025-02-19📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2025-02-19📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2025-02-19📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-12-19➕FOURIE, Amber-Jade appointeddirector
- 2024-12-19➖FOURIE, Marnus resigneddirector
- 2024-12-19📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2024-12-19📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-12-19📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2024-12-19📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-08-26📄change-person-director-company-with-change-dateofficers · CH01
- 2024-08-26📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-07-24🏢Company incorporatedAs COVERNANT LTD
- 2023-07-24➕FOURIE, Marnus appointeddirector
- 2023-07-24📄incorporation-companyincorporation · NEWINC
Owner dependency
The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
- +Sole director: Only one active director — all governance concentrated on one person.
- +Young company: Only 2.9 years old — management layer unlikely to be developed.
Succession & seller-readiness
Some succession indicators present. Worth watching; approach if sector/strategy fits.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
1 med ·Name changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.
Evidence: 2025-05-07: certificate-change-of-name-company; 2025-04-07: certificate-change-of-name-company
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Marnus Fourie Individual · British · DOB 03/1988 · age 38 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 19/02/2025 |
2 historic (ceased) PSCs
- Mrs Amber-Jade Fourieceased 19/02/2025· 75-100% shares
- Mr Marnus Fourieceased 19/12/2024· 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.
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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8 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 →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
Registered office
Filing status
Officers (1 active · 2 resigned)
Click a director name to see their full track record across all companies.