A9 LEASING LLP

💤Zombieactive
OC433917 · llp · incorporated 2020-10-23
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.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
What changed my view
Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
Upgrade to see
Turnover
year to Oct 2024
Net worth
book net assets
Opportunity
66/100
Strong
🔔
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Investor take
Pursue
Active trading company. Reasonable fundamentals — worth a memo before deciding.

Opportunity 66/100 (strong), bankability 80/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -96% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

5 live charges · oldest 1.5y

10/100
under pressure

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

  • · Newest facility, 1.5 years old — likely still in initial term.
  • · 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
5 charges (5/5 with lender, 5/5 with type)
90
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
17 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
66/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
65
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
69
Some moderate concerns — review flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Cash draining
Cash down 96% YoY
Cash YoY
-96%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£10k
↓ 96% YoY
Net Worth
Current Assets
£483k
↑ 36% YoY
Current Liabilities
£0£97k£193k£290k£386k£483kOct 2023Oct 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-10-312023-10-31
Current assets£483.0k£354.6k
Cash£10.5k£243.6k
Debtors£472.6k£111.0k

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
2
filings
  • 2 mortgage
Last 180 days
3
filings
  • 3 mortgage
Counts from Companies House filing history.
Corporate timeline (27 events)Click to expand
  1. 2026-04-27
    📄
    mortgage-satisfy-charge-full-limited-liability-partnership
    mortgage · LLMR04
  2. 2026-04-27
    📄
    mortgage-satisfy-charge-full-limited-liability-partnership
    mortgage · LLMR04
  3. 2026-04-27
    🔓
    Charge satisfied #2
  4. 2026-04-27
    🔓
    Charge satisfied #1
  5. 2026-02-03
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
    mortgage · LLMR01
  6. 2026-02-02
    🔒
    Charge registered #5
    Lender: Close Brothers Limited
  7. 2025-12-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
    mortgage · LLMR01
  8. 2025-12-29
    🔒
    Charge registered #4
    Lender: Close Brothers Limited
  9. 2025-12-23
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
    mortgage · LLMR01
  10. 2025-12-19
    🔒
    Charge registered #3
    Lender: Close Brothers Limited
  11. 2025-10-21
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  12. 2025-10-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2025-03-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
    mortgage · LLMR01
  14. 2025-03-11
    🔒
    Charge registered #2
    Lender: Close Brothers Limited
  15. 2024-12-23
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
    mortgage · LLMR01
  16. 2024-12-23
    🔒
    Charge registered #1
    Lender: Close Brothers Limited
  17. 2024-10-21
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  18. 2024-06-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2023-10-24
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  20. 2023-07-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2022-10-21
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  22. 2022-07-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  23. 2021-10-21
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  24. 2020-10-23
    🏢
    Company incorporated
    As A9 LEASING LLP
  25. 2020-10-23
    POLMAN, Paulus Gerardus Josephus Maria appointed
    llp-designated-member
  26. 2020-10-23
    POLMAN, Philippe appointed
    llp-designated-member
  27. 2020-10-23
    📄
    incorporation-limited-liability-partnership
    incorporation · LLIN01

Owner dependency

55/100
Moderate — manageable with handover

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

FACTORS
  • +No director turnover: Company is 6 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

30/100
Weak signal

Limited succession signal. Not a near-term off-market candidate.

Red flags

2 med ·
3 new charges in last 12 months
medium

Heavy recent charge activity can indicate refinancing pressure, aggressive leverage, or multiple lender rotation.

Evidence: 2026-02-02: A registered charge; 2025-12-29: A registered charge; 2025-12-19: A registered charge

Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Paulus Gerardus Josephus Maria Polman
Individual · Dutch · DOB 07/1956 · age 70
25–50%25-50% voting23/10/2020
Mr Philippe Polman
Individual · Dutch · DOB 04/1985 · age 41
25–50%25-50% voting23/10/2020

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

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 →
🔒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
Incorporated2020-10-23
Jurisdictionengland-wales
Primary SIC

Registered office

1 & 2 Mercia Village Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX
England

Filing status

Accounts
Next due: 2026-07-31
Last made up to: 2024-10-31
Confirmation statement
Next due: 2026-11-04
Last: 2025-10-21

Officers (2 active · 0 resigned)

POLMAN, Paulus Gerardus Josephus Maria
llp-designated-member · ~70y · appointed 2020-10-23
View their other companies + combined net worth →
Active
POLMAN, Philippe
llp-designated-member · ~41y · appointed 2020-10-23
View their other companies + combined net worth →
Active

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

Mortgages & charges

5
Total charges
3
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
outstanding
Close Brothers
Close Brothers Limited
A registered charge1 property02/02/2026
outstanding
Close Brothers
Close Brothers Limited
A registered charge1 property29/12/2025
outstanding
Close Brothers
Close Brothers Limited
A registered charge1 property19/12/2025
satisfied
Close Brothers
Close Brothers Limited
A registered charge1 property11/03/202527/04/2026
satisfied
Close Brothers
Close Brothers Limited
A registered charge1 property23/12/202427/04/2026
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (17 total)

mortgage-satisfy-charge-full-limited-liability-partnership
mortgage · LLMR04
2026-04-27
mortgage-satisfy-charge-full-limited-liability-partnership
mortgage · LLMR04
2026-04-27
mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
mortgage · LLMR01
2026-02-03
mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
mortgage · LLMR01
2025-12-30
mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
mortgage · LLMR01
2025-12-23
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2025-10-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-08
mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
mortgage · LLMR01
2025-03-13
mortgage-create-with-deed-with-charge-number-charge-creation-date-limited-liability-partnership
mortgage · LLMR01
2024-12-23
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2024-10-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-09
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2023-10-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-31
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2022-10-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-22