2FORTY LIMITED
🌳Matureactive
NI060695 · ltd · incorporated 2006-08-30
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 18.3y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Aug 2025
Net worth
£36.7k
book net assets
Opportunity
78/100
Strong
What this business does
Primary activity: Retail sale of electrical household appliances in specialised stores
Sector: Wholesale & retail
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 78/100 (strong), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
1 live charge · oldest 18.3y
65/100
clean up first
Refinance viable after a tidy-up — address the highlighted items first.
- · Oldest live charge is 18.3 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Legal-friction score 25/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (77/100)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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
7 officers (2 active, 7 linked, 5 with DOB)
84
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
55 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
65
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £36,703
Net assets shrinking
Down £990 YoY
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
£37k
↓ 2.6% YoY
Current Assets
£149k
↓ 8.4% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-08-31 | 2024-08-31 |
|---|---|---|
| Total assets | £36.7k | £37.7k |
| Current assets | £149.0k | £162.6k |
| Net assets | £36.7k | £37.7k |
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
1
filing
- • 1 accounts
Last 180 days
2
filings
- • 1 accounts
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (29 events)Click to expand
- 2026-02-23📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-11-14📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-12-01📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-12-01📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-11-26📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-11-04📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2019-10-23📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2018-11-06📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2017-11-21📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2016-12-07📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2015-11-25📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2015-10-21📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2014-12-09📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2014-10-13📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2014-02-11📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2013-11-01➕GLENNY, Julie Ann appointeddirector
- 2013-11-01➖CORNETT, Brian resignedsecretary
- 2013-11-01➖CORNETT, Brian resigneddirector
- 2008-01-02🔒Charge registered #1Lender: Northern Bank Limited
- 2006-09-06➕GLENNY, Malcolm appointeddirector
- 2006-09-06➕CORNETT, Brian appointedsecretary
- 2006-09-06➖KANE, Dorothy May resignedsecretary
- 2006-09-06➕CORNETT, Brian appointeddirector
- 2006-09-06➖HARRISON, Malcolm Joseph resigneddirector
- 2006-09-06➖KANE, Dorothy May resigneddirector
- 2006-08-30🏢Company incorporatedAs 2FORTY LIMITED
- 2006-08-30➕KANE, Dorothy May appointedsecretary
- 2006-08-30➕HARRISON, Malcolm Joseph appointeddirector
- 2006-08-30➕KANE, Dorothy May appointeddirector
Owner dependency
76/100
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.
- +Long-tenure founder: Senior director has been in place 20 years — deep operational knowledge concentrated in one person.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
59/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- secondary12+ year tenure: Director in role 20 years.
- secondaryStable-but-static management: Company is 20 years old and no new directors in the last 3 years — succession not yet being planned internally.
- supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.
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 Malcolm Glenny Individual · British · DOB 09/1971 · age 55 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 01/07/2016 |
Mrs Julie Ann Glenny Individual · British · DOB 04/1972 · age 54 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 01/07/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Retail · BT postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| 21 OMNICARE LTD→ NI680181 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| 27 DIRECT LTD→ NI694641 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| 2ND HOME FURNITURE LTD→ NI610680 · est 2012 · no financials extracted | — | — | — | — | 14y | — | — |
| 32 NORTH LIMITED→ NI670570 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| 3CSCOFFEBAR LTD→ NI734232 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| 4 ACES CC LIMITED→ NI731555 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| 5 AMOUR LTD→ NI688368 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| 7 BLOOMS LTD→ NI737311 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| 77 RETAIL 3 LIMITED→ NI668544 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
| A1 FIRE STOP LTD→ NI652205 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
| AA BUFF LTD→ NI734745 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| AA SELLERS LIMITED→ NI732591 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
6 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
Incorporated2006-08-30
Jurisdictionnorthern-ireland
Primary SIC47540 — Retail sale of electrical household appliances in specialised stores
Registered office
11 Cecil Street
Portadown
BT62 3AT
Filing status
Accounts
Next due: 2027-05-31
Last made up to: 2025-08-31
Confirmation statement
Next due: 2026-09-13
Last: 2025-08-30
Officers (2 active · 5 resigned)
GLENNY, Julie Ann→
Activedirector · ~54y · appointed 2013-11-01
View their other companies + combined net worth →
GLENNY, Malcolm→
Activedirector · ~55y · appointed 2006-09-06
View their other companies + combined net worth →
CORNETT, Brian→
Resignedsecretary · appointed 2006-09-06 · resigned 2013-11-01
KANE, Dorothy May→
Resignedsecretary · appointed 2006-08-30 · resigned 2006-09-06
CORNETT, Brian→
Resigneddirector · ~77y · appointed 2006-09-06 · resigned 2013-11-01
HARRISON, Malcolm Joseph→
Resigneddirector · ~52y · appointed 2006-08-30 · resigned 2006-09-06
KANE, Dorothy May→
Resigneddirector · ~90y · appointed 2006-08-30 · resigned 2006-09-06
Click a director name to see their full track record across all companies.
Mortgages & charges
1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Northern Bank Northern Bank Limited | Mortgage or charge | 1 property | 02/01/2008 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (55 total)
accounts-with-accounts-type-micro-entity
accounts · AA
2026-02-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-03
accounts-with-accounts-type-micro-entity
accounts · AA
2024-11-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-11
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-08
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-19
accounts-with-accounts-type-micro-entity
accounts · AA
2021-11-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-11-04
accounts-with-accounts-type-micro-entity
accounts · AA
2020-11-04
accounts-with-accounts-type-micro-entity
accounts · AA
2019-10-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-09-03
accounts-with-accounts-type-micro-entity
accounts · AA
2018-11-06