MARTIN ESTATES COMPANY LIMITED

💤Zombieactive
R0000521 · ltd · incorporated 1898-04-19
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
£-110.0k
book net assets
Opportunity
69/100
Strong
🔔
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What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
Investor take
Pass (distressed without resilience)
Distressed property-backed borrower — structural issues outweigh the discount.

Opportunity 69/100 (strong), bankability 52/100. High owner-dependency — earn-out structure likely required for clean transition. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 12 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: distressed disposal / insolvency (65/100).

🏦

Refinance opportunity

24 live charges · 10 lenders · oldest 127.9y

15/100
under pressure

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

  • · Oldest live charge is 127.9 years old — likely at or near maturity.
  • · 10 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

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
24 charges (24/24 with lender, 24/24 with type)
90
Directors & officers
18 officers (1 active, 18 linked, 14 with DOB)
86
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
3 connected companies via shared directors
54
Filing history
309 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
69/100Strong
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
74
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Negative net assets
Liabilities exceed assets by £110,017

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
-£110k
~ YoY
Current Assets
—
Current Liabilities
—
-£110k-£110k-£110k-£110k-£110k-£109kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Total assets£-107.5k£-107.0k
Net assets£-110.0k£-109.4k

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 (99 events)Click to expand
  1. 2025-12-21
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2025-07-01
    📄
    withdrawal-of-a-person-with-significant-control-statement
    persons-with-significant-control · PSC09
  3. 2025-07-01
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  4. 2025-07-01
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  5. 2025-05-19
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  6. 2025-05-19
    📄
    notification-of-a-person-with-significant-control-statement
    persons-with-significant-control · PSC08
  7. 2025-05-19
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  8. 2025-05-19
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  9. 2025-05-19
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  10. 2025-05-19
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  11. 2025-05-19
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  12. 2025-05-19
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  13. 2025-05-09
    ➕
    EDGAR, Andrew John appointed
    director
  14. 2025-05-09
    ➖
    AGNEW, Dermott resigned
    secretary
  15. 2025-05-09
    ➖
    AGNEW, Dermott resigned
    director
  16. 2025-05-09
    ➖
    RAMSEY, David resigned
    director
  17. 2024-12-20
    📄
    accounts-with-accounts-type-small
    accounts · AA
  18. 2023-12-20
    📄
    accounts-with-accounts-type-small
    accounts · AA
  19. 2023-02-03
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  20. 2023-02-01
    🔒
    Charge registered #24
    Lender: Northern Bank Limited
  21. 2022-09-21
    📄
    accounts-with-accounts-type-small
    accounts · AA
  22. 2022-04-05
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  23. 2022-04-05
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  24. 2022-01-10
    📄
    change-person-director-company-with-change-date
    officers · CH01
  25. 2021-11-29
    📄
    accounts-with-accounts-type-small
    accounts · AA
  26. 2021-04-01
    ➕
    AGNEW, Dermott appointed
    secretary
  27. 2021-04-01
    ➖
    HARROWER-STEELE, Jill resigned
    secretary
  28. 2021-04-01
    ➕
    AGNEW, Dermott appointed
    director
  29. 2021-03-01
    ➖
    HARROWER-STEELE, Jill resigned
    director
  30. 2019-12-12
    🔒
    Charge registered #23
    Lender: Northern Bank Limited (Trading as Danske Bank)
  31. 2019-12-10
    ➕
    HARROWER-STEELE, Jill appointed
    director
  32. 2019-10-01
    ➖
    FLETCHER, Nicolas Andrew resigned
    director
  33. 2019-10-01
    ➖
    O'CALLAGHAN, Gerard Austin resigned
    director
  34. 2019-10-01
    ➕
    RAMSEY, David appointed
    director
  35. 2018-03-02
    ➕
    FLETCHER, Nicolas Andrew appointed
    director
  36. 2018-03-02
    ➖
    LAGAN, Kevin Anthony resigned
    director
  37. 2018-03-02
    ➖
    LAGAN, Michael Anthony resigned
    director
  38. 2018-03-02
    ➕
    O'CALLAGHAN, Gerard Austin appointed
    director
  39. 2017-12-12
    🔓
    Charge satisfied #22
  40. 2017-05-01
    ➖
    LOUGHRAN, Colin Gerard resigned
    director
  41. 2017-02-03
    🔓
    Charge satisfied #21
  42. 2017-02-03
    🔓
    Charge satisfied #19
  43. 2017-02-03
    🔓
    Charge satisfied #14
  44. 2016-08-30
    ➖
    MOOREHEAD CLARKE, Thomas resigned
    director
  45. 2016-06-10
    ➖
    MARTIN, Derek William Robert resigned
    director
  46. 2016-03-31
    ➖
    MARTIN, William George resigned
    director
  47. 2015-04-01
    ➕
    HARROWER-STEELE, Jill appointed
    secretary
  48. 2015-04-01
    ➖
    MARTIN, Derek William Robert resigned
    secretary
  49. 2015-04-01
    ➕
    LAGAN, Kevin Anthony appointed
    director
  50. 2015-04-01
    ➕
    LAGAN, Michael Anthony appointed
    director
Showing most recent 50 of 99 events

Owner dependency

75/100
High — earn-out structure required

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

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

45/100
Moderate signal

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

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

1 med · 1 low
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.

5 live charges
low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Group structure

Portgar Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Portgar Ltd
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
MARTIN ESTATES COMPANY LIMITED
This company · R0000521

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Portgar Ltd
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control09/05/2025
3 historic (ceased) PSCs
  • Mr Andrew John Edgarceased 09/05/2025· significant influence
  • H&J Martin Group Limitedceased 09/05/2025· 75-100% shares · 75-100% voting
  • H & J Martin Construction Limitedceased 30/03/2022· 75-100% shares

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

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

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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
Typeltd
Incorporated1898-04-19
Jurisdictionnorthern-ireland
Primary SIC68100 — Buying and selling of own real estate

Registered office

Formation Works
2 Edenaveys Industrial Estate
Armagh
BT60 1NF
Northern Ireland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-05-23
Last: 2025-05-09

Officers (1 active · 17 resigned)

EDGAR, Andrew John→
director · ~26y · appointed 2025-05-09
View their other companies + combined net worth →
Active
AGNEW, Dermott→
secretary · appointed 2021-04-01 · resigned 2025-05-09
Resigned
HARROWER-STEELE, Jill→
secretary · appointed 2015-04-01 · resigned 2021-04-01
Resigned
KANE, Barry Robert→
secretary · appointed 1992-01-10 · resigned 2012-08-31
Resigned
MARTIN, Derek William Robert→
secretary · appointed 2012-08-31 · resigned 2015-04-01
Resigned
AGNEW, Dermott→
director · ~43y · appointed 2021-04-01 · resigned 2025-05-09
Resigned
FLETCHER, Nicolas Andrew→
director · ~62y · appointed 2018-03-02 · resigned 2019-10-01
Resigned
HARROWER-STEELE, Jill→
director · ~49y · appointed 2019-12-10 · resigned 2021-03-01
Resigned
LAGAN, Kevin Anthony→
director · ~44y · appointed 2015-04-01 · resigned 2018-03-02
Resigned
LAGAN, Michael Anthony→
director · ~71y · appointed 2015-04-01 · resigned 2018-03-02
Resigned
LOUGHRAN, Colin Gerard→
director · ~59y · appointed 2015-04-01 · resigned 2017-05-01
Resigned
MARTIN, Derek William Robert→
director · ~70y · appointed 1987-05-25 · resigned 2016-06-10
Resigned
MARTIN, Geoffrey Herbert George→
director · ~58y · appointed 2007-07-04 · resigned 2015-04-01
Resigned
MARTIN, Timothy William Downing→
director · ~62y · appointed 1995-07-25 · resigned 2015-04-01
Resigned
MARTIN, William George→
director · ~93y · appointed 1959-10-09 · resigned 2016-03-31
Resigned
MOOREHEAD CLARKE, Thomas→
director · ~71y · appointed 1999-07-01 · resigned 2016-08-30
Resigned
O'CALLAGHAN, Gerard Austin→
director · ~52y · appointed 2018-03-02 · resigned 2019-10-01
Resigned
RAMSEY, David→
director · ~39y · appointed 2019-10-01 · resigned 2025-05-09
Resigned

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

Mortgages & charges

24
Total charges
5
Outstanding
2
Active lenders
Status:Lender:24 of 24 shown
TypeProperties
outstanding
Northern Bank
Northern Bank Limited
A registered charge—01/02/2023—
outstanding
Northern Bank (Trading as Danske Bank)
Northern Bank Limited (Trading as Danske Bank)
A registered charge—12/12/2019—
satisfied
Triforge (As Secured Creditor)
Triforge Limited (As Secured Creditor)
A registered charge3 properties19/12/201412/12/2017
satisfied
NatWest Group
Ulster Bank Limited
A registered charge1 property05/12/201403/02/2017
outstanding
Northern Bank
Northern Bank Limited
Mortgage1 property29/10/2009—
satisfied
NatWest Group
Ulster Bank Limited
Mortgage or charge2 properties02/10/200003/02/2017
satisfied
Bank of Ireland
Mortgage or charge2 properties16/08/200019/01/2015
satisfied
Bank of Ireland
Mortgage or charge1 property31/03/200016/12/2014
satisfied
Bank of Ireland
Mortgage or charge3 properties09/09/199723/02/2005
outstanding
Northern Bank
Northern Bank LTD
Mortgage or charge1 property09/09/1997—
satisfied
Lombard & Ulster
Mortgage or charge1 property01/11/199103/02/2017
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property06/07/198703/07/1989
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge2 properties06/04/198717/01/1990
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property28/03/198603/07/1989
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property28/03/198603/07/1989
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property07/02/198503/07/1989
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property07/12/198403/07/1989
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property07/12/198403/07/1989
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge1 property22/06/198403/07/1989
outstanding
Northern Bank
Northern Bank LTD
Mortgage or charge1 property22/06/1984—
satisfied
Northern Bank
Northern Bank LTD
Mortgage or charge2 properties22/06/198403/07/1989
satisfied
NatWest Group
Ulster Bank LTD
Mortgage or charge1 property23/08/197214/11/1975
satisfied
C T Hurst and Others
Mortgage or charge1 property23/11/197011/08/1999
satisfied
John Ralph / Colin Alexander John / Robert Boyd
Mortgage or charge1 property01/07/189811/08/1999
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (309 total)

accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-12-21
withdrawal-of-a-person-with-significant-control-statement
persons-with-significant-control · PSC09
2025-07-01
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2025-07-01
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-07-01
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-05-19
notification-of-a-person-with-significant-control-statement
persons-with-significant-control · PSC08
2025-05-19
confirmation-statement-with-updates
confirmation-statement · CS01
2025-05-19
appoint-person-director-company-with-name-date
officers · AP01
2025-05-19
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-05-19
termination-director-company-with-name-termination-date
officers · TM01
2025-05-19
termination-director-company-with-name-termination-date
officers · TM01
2025-05-19
termination-secretary-company-with-name-termination-date
officers · TM02
2025-05-19
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-05-19
accounts-with-accounts-type-small
accounts · AA
2024-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-07-31