CARGO ASSET LLP

💤Zombieactive
OC305510 · llp · incorporated 2003-09-15
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
73/100
Strong
🔔
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Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 73/100 (strong), bankability 80/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -75% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

2 live charges · oldest 19.0y

45/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 19.0 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

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, no SIC, incorporation date
80
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 4 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
60 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
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 · accounting standard not declared
Cash draining
Cash down 75% YoY
Cash YoY
-75%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£11k
↓ 75% YoY
Net Worth
—
Current Assets
£106k
↑ 22% YoY
Current Liabilities
—
£0£21k£43k£64k£85k£106kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£99.7k£158.6k
Current assets£106.4k£86.9k
Cash£10.9k£43.4k
Debtors£95.6k£43.5k

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
0
filings
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
  1. 2025-12-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-10-22
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  3. 2024-12-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2024-10-21
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  5. 2023-12-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-10-23
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  7. 2022-12-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2022-10-24
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  9. 2021-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-10-19
    ➖
    REED, Stuart resigned
    llp-designated-member
  11. 2021-10-19
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  12. 2021-10-19
    📄
    cessation-of-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC07
  13. 2021-10-19
    📄
    termination-member-limited-liability-partnership-with-name-termination-date
    officers · LLTM01
  14. 2021-07-23
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  15. 2020-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2020-07-20
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  17. 2019-12-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2019-07-18
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  19. 2018-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2018-07-20
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  21. 2017-12-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  22. 2017-07-18
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  23. 2017-01-20
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  24. 2017-01-20
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  25. 2016-12-31
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  26. 2016-08-02
    📄
    confirmation-statement-with-updates
    confirmation-statement · LLCS01
  27. 2007-06-29
    🔒
    Charge registered #2
    Lender: Barclays Bank PLC
  28. 2007-06-27
    🔒
    Charge registered #1
    Lender: Barclays Bank PLC
  29. 2007-06-11
    ➕
    REED, Stuart appointed
    llp-designated-member
  30. 2004-08-13
    ➖
    NEWTON, Terry resigned
    llp-designated-member
  31. 2003-09-15
    🏢
    Company incorporated
    As CARGO ASSET LLP
  32. 2003-09-15
    ➕
    MULLEE, Paul appointed
    llp-designated-member
  33. 2003-09-15
    ➕
    RYAN, Christopher appointed
    llp-designated-member
  34. 2003-09-15
    ➕
    NEWTON, Terry appointed
    llp-designated-member

Owner dependency

50/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

Succession & seller-readiness

40/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • secondaryStable-but-static management: Company is 23 years old and no new directors in the last 3 years — succession not yet being planned internally.

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
NameSharesVoting rightsNature of controlNotified
Mr Christopher Robert John Ryan
Individual · British · DOB 02/1966 · age 60
——sig. influencesignificant influence01/07/2016
Mr Paul Mullee
Individual · British · DOB 06/1966 · age 60
——sig. influencesignificant influence01/07/2016
1 historic (ceased) PSC
  • Mr Stuart Reedceased 19/10/2021· significant influence

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

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
Typellp
Incorporated2003-09-15
Jurisdictionengland-wales
Primary SIC—

Registered office

122 Feering Hill
Feerring
Colchester
Essex
CO5 9PY

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-11-02
Last: 2025-10-19

Officers (2 active · 2 resigned)

MULLEE, Paul→
llp-designated-member · ~60y · appointed 2003-09-15
View their other companies + combined net worth →
Active
RYAN, Christopher→
llp-designated-member · ~60y · appointed 2003-09-15
View their other companies + combined net worth →
Active
NEWTON, Terry→
llp-designated-member · ~71y · appointed 2003-09-15 · resigned 2004-08-13
Resigned
REED, Stuart→
llp-designated-member · ~63y · appointed 2007-06-11 · resigned 2021-10-19
Resigned

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

Mortgages & charges

2
Total charges
2
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
Barclays
Barclays Bank PLC
Legal charge1 property29/06/2007—
outstanding
Barclays
Barclays Bank PLC
Guarantee & debenture1 property27/06/2007—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (60 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-11
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2025-10-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-12
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2024-10-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-05
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2023-10-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-21
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2022-10-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-22
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2021-10-19
cessation-of-a-person-with-significant-control-limited-liability-partnership
persons-with-significant-control · LLPSC07
2021-10-19
termination-member-limited-liability-partnership-with-name-termination-date
officers · LLTM01
2021-10-19
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2021-07-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-12-23
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2020-07-20