186 PERFORMANCE LTD

🌿Early-stageactive
15173282 · ltd · incorporated 2023-09-28
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 Sept 2025
Net worth
£23.1k
book net assets
Opportunity
71/100
Strong
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What this business does
Primary activity: Other business support service activities n.e.c.
Sector: Administrative & support services
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and acceptable with review structure.

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. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -81% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

Data confidence

Overall: medium (76/100)

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 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
6 filings
60
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 declared
Positive net assets
Net assets £23,129
Cash draining
Cash down 81% YoY
Cash YoY
-81%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£7k
↓ 81% YoY
Net Worth
£23k
↑ 2.9% YoY
Current Assets
£36k
↓ 4.4% YoY
Current Liabilities
£0£8k£15k£23k£30k£38kSept 2024Sept 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-09-302024-09-30
Total assets£23.2k£22.5k
Current assets£35.9k£37.5k
Cash£6.9k£36.2k
Debtors£29.0k£1.4k
Net assets£23.1k£22.5k

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
1
filing
  • 1 accounts
Counts from Companies House filing history.
Corporate timeline (7 events)Click to expand
  1. 2025-12-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-01-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-01-19
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  4. 2024-01-10
    LEMAN, Kate Elizabeth appointed
    director
  5. 2023-09-28
    🏢
    Company incorporated
    As 186 PERFORMANCE LTD
  6. 2023-09-28
    LEMAN, Ian appointed
    director
  7. 2023-09-28
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

71/100
High — earn-out structure required

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

FACTORS
  • +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.
  • +Young company: Only 2.6 years old — management layer unlikely to be developed.

Succession & seller-readiness

36/100
Weak signal

Limited 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

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 · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mrs Kate Elizabeth Leman
Individual · British · DOB 06/1986 · age 40
75100%
75-100% shares28/09/2023
Ian Leman
Individual · British · DOB 06/1984 · age 42
sig. influencesignificant influence28/09/2023

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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.

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Company details

Statusactive
Typeltd
Incorporated2023-09-28
Jurisdictionengland-wales
Primary SIC82990 — Other business support service activities n.e.c.

Registered office

Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ
England

Filing status

Accounts
Next due: 2027-06-30
Last made up to: 2025-09-30
Confirmation statement
Next due: 2026-10-11
Last: 2025-09-27

Officers (2 active · 0 resigned)

LEMAN, Ian
director · ~42y · appointed 2023-09-28
View their other companies + combined net worth →
Active
LEMAN, Kate Elizabeth
director · ~40y · appointed 2024-01-10
View their other companies + combined net worth →
Active

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

Recent filings (6 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-01-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-30
appoint-person-director-company-with-name-date
officers · AP01
2024-01-19
incorporation-company
incorporation · NEWINC
2023-09-28