LAPWINE LIMITED
🌳Matureactive
SC164204 · ltd · incorporated 1996-03-15
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£3.58M
book net assets
Opportunity
70/100
Strong
What this business does
Primary activity: Other business support service activities n.e.c.
Sector: Administrative & support services
Investor take
Special-situation opportunityDistressed trade-services with salvageable qualities — special-situations priority.
Opportunity 70/100 (strong), bankability 57/100. Strong seller-intent signal (70/100, director aged 63). Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 9 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
44 live charges · 9 lenders · oldest 29.0y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 29.0 years old — likely at or near maturity.
- · 9 lenders named — inter-creditor friction likely.
- · Cashflow trend is negative — lender view likely cautious.
Data confidence
Overall: high (81/100)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
44 charges (44/44 with lender, 44/44 with type)
90
Directors & officers
13 officers (3 active, 13 linked, 6 with DOB)
79
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
11 connected companies via shared directors
78
Filing history
220 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
70/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
60
Adequate — check latest filings for context.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
56
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £3,579,023
Cash draining
Cash down 66% YoY
Cash YoY
-66%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£106k
↓ 66% YoY
Net Worth
£3.6m
↑ 1.5% YoY
Current Assets
£631k
↓ 13% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £7.27M | £7.33M |
| Current assets | £631.4k | £727.0k |
| Cash | £105.9k | £315.4k |
| Debtors | £525.5k | £411.6k |
| Net assets | £3.58M | £3.53M |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
3 signals 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
6
filings
- • 1 persons-with-significant-control
- • 1 confirmation-statement
- • 1 insolvency
Last 180 days
7
filings
- • 2 confirmation-statement
- • 1 persons-with-significant-control
- • 1 insolvency
Counts from Companies House filing history.
Corporate timeline (126 events)Click to expand
- 2026-03-10📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2026-03-06⚠️legacyinsolvency · CAP-SS
- 2026-03-06📄legacycapital · SH20
- 2026-03-06📄resolutionresolution · RESOLUTIONS
- 2026-02-19📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-08-02📄gazette-filings-brought-up-to-dategazette · DISS40
- 2025-07-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-06-05📄dissolved-compulsory-strike-off-suspendeddissolution · DISS16(SOAS)
- 2025-05-27📄gazette-notice-compulsorygazette · GAZ1
- 2024-03-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-10-13🔓Charge satisfied #31
- 2023-10-13🔓Charge satisfied #36
- 2023-10-13🔓Charge satisfied #35
- 2023-10-13🔓Charge satisfied #34
- 2023-10-13🔓Charge satisfied #33
- 2023-10-13🔓Charge satisfied #27
- 2023-10-13🔓Charge satisfied #4
- 2023-06-22📄capital-allotment-sharescapital · SH01
- 2023-03-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-04-20🔓Charge satisfied #29
- 2022-04-20🔓Charge satisfied #32
- 2022-04-20🔓Charge satisfied #30
- 2022-04-20🔓Charge satisfied #28
- 2022-04-05🔓Charge satisfied #39
- 2022-04-05🔓Charge satisfied #38
- 2022-04-05🔓Charge satisfied #17
- 2022-04-05🔓Charge satisfied #16
- 2021-05-20🔒Charge registered #44Lender: Cynergy Bank Limited
- 2021-05-19🔓Charge satisfied #37
- 2021-05-14🔒Charge registered #43Lender: Cynergy Bank Limited
- 2021-05-14🔒Charge registered #42Lender: Cynergy Bank Limited
- 2021-05-14🔒Charge registered #41Lender: Cynergy Bank Limited
- 2021-05-14🔒Charge registered #40Lender: Cynergy Bank Limited
- 2018-10-02🔒Charge registered #39Lender: Aldermore Bank PLC (00947662)
- 2017-06-19🔒Charge registered #38Lender: Aldermore Bank PLC
- 2017-06-07🔓Charge satisfied #25
- 2017-06-07🔓Charge satisfied #24
- 2017-06-07🔓Charge satisfied #23
- 2017-06-07🔓Charge satisfied #22
- 2017-06-07🔓Charge satisfied #21
- 2017-06-07🔓Charge satisfied #20
- 2017-06-07🔓Charge satisfied #6
- 2017-05-31🔒Charge registered #37Lender: Aldermore Bank PLC
Showing most recent 50 of 126 events
Owner dependency
84/100
Critical — business is the founderThe business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
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 29 years — deep operational knowledge concentrated in one person.
- +Senior director age: Director aged approximately 63 — approaching natural succession window.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
86/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 63. Approaching typical UK retirement age — succession thinking likely.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- primary20+ year tenure: Director in role 29 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 30 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
1 high · 1 med · 1 low1 insolvency-related filing on record
highFilings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.
Evidence: 2026-03-06: legacy
Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
5 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
Shareholders & ownership
1 active beneficial owner| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Joseph Paul White Individual · British · DOB 10/1963 · age 63 | — | — | sig. influencesignificant influence | 04/02/2017 |
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 →Similar companies
Active · Trade services · PA postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| CITY GATE CONSTRUCTION (SCOTLAND) LIMITED→ SC244614 · est 2003 | £12.48M £9.36M–£15.60M | — | — | 194 | 23y | 88 | 63y |
| BRAID GROUP (HOLDINGS) LIMITED→ SC299361 · est 2006 | £2.98M £2.24M–£3.73M | — | — | 200 | 20y | 93 | 59y |
| IMPERIAL LAUNDRY LIMITED→ SC466704 · est 2014 | £86.3k £64.7k–£107.8k | £126.9k | — | 100 | 12y | 94 | 66y |
| GLENGARRY AND DISTRICT COMMUNITY ASSOCIATION→ SC267949 · est 2004 · no financials extracted | — | — | — | — | 21y | 83 | 90y |
| MOBILE GRITTING SERVICES LIMITED→ SC378297 · est 2010 | — | — | £701.6k | — | 15y | 83 | 61y |
| RIVERSIDE INVERCLYDE (PROPERTY HOLDINGS) LIMITED→ SC331360 · est 2007 · no financials extracted | — | — | — | — | 18y | 83 | 68y |
| SALON ALTERNATIVES LTD.→ SC367809 · est 2009 | — | — | £483.9k | — | 16y | 83 | 69y |
| STERLING HYDROKLEAR LIMITED→ SC321932 · est 2007 | — | — | — | 0 | 19y | 83 | 81y |
| ARDORAN MARINE LIMITED→ SC290011 · est 2005 | — | — | £455.9k | — | 20y | 82 | 79y |
| CUT AND DRY (RENFREW) LIMITED→ SC080545 · est 1982 | — | — | £27.6k | — | 43y | 82 | 74y |
| EXCEL ENVIRONMENTAL SERVICES LTD.→ SC292026 · est 2005 | — | — | £176.8k | — | 20y | 82 | 64y |
| GLYCOMAR LIMITED→ SC279835 · est 2005 | — | — | — | 1 | 21y | 82 | 79y |
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
Incorporated1996-03-15
Jurisdictionscotland
Primary SIC82990 — Other business support service activities n.e.c.
Registered office
Clarence House
7 Hood Street
Greenock
PA15 1YQ
Scotland
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-24
Last: 2026-03-10
Officers (3 active · 10 resigned)
WHITE, Joseph Paul→
Activesecretary · appointed 2008-01-16
View their other companies + combined net worth →
WHITE, Joseph Paul→
Activedirector · ~63y · appointed 1997-08-29
View their other companies + combined net worth →
Active
BELL, Agnes→
Resignedsecretary · appointed 1996-03-15 · resigned 2006-03-31
HUDSON, John→
Resignedsecretary · appointed 2007-12-20 · resigned 2008-01-16
MACLACHLAN, Gillian→
Resignedsecretary · appointed 2008-01-16 · resigned 2008-01-16
WHITE, Joseph Paul→
Resignedsecretary · appointed 2006-03-31 · resigned 2007-12-20
FIRST SCOTTISH SECRETARIES LIMITED→
Resignedcorporate-nominee-secretary · appointed 1996-03-15 · resigned 1996-03-15
BELL, Graeme George→
Resigneddirector · ~55y · appointed 2007-03-30 · resigned 2013-03-15
BELL, William→
Resigneddirector · ~83y · appointed 1999-04-01 · resigned 2007-04-02
BELL, William→
Resigneddirector · ~83y · appointed 1997-08-29 · resigned 1998-12-31
BELL, William Donald→
Resigneddirector · ~59y · appointed 1996-03-15 · resigned 1997-08-29
FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED→
Resignedcorporate-nominee-director · appointed 1996-03-15 · resigned 1996-03-15
Click a director name to see their full track record across all companies.
Mortgages & charges
44
Total charges
5
Outstanding
1
Active lenders
Status:Lender:44 of 44 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Cynergy Bank Cynergy Bank Limited | A registered charge | 8 properties | 20/05/2021 | — | |
| outstanding | Cynergy Bank Cynergy Bank Limited | A registered charge | 2 properties | 14/05/2021 | — | |
| outstanding | Cynergy Bank Cynergy Bank Limited | A registered charge | 1 property | 14/05/2021 | — | |
| outstanding | Cynergy Bank Cynergy Bank Limited | A registered charge | — | 14/05/2021 | — | |
| outstanding | Cynergy Bank Cynergy Bank Limited | A registered charge | 2 properties | 14/05/2021 | — | |
| satisfied | Aldermore Aldermore Bank PLC (00947662) | A registered charge | 2 properties | 02/10/2018 | 05/04/2022 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 19/06/2017 | 05/04/2022 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | — | 31/05/2017 | 19/05/2021 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 10/04/2015 | 20/04/2022 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 08/04/2015 | 20/04/2022 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 08/04/2015 | 13/10/2023 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 08/04/2015 | 20/04/2022 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | — | 31/03/2015 | 13/10/2023 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | — | 31/03/2015 | 13/10/2023 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | — | 31/03/2015 | 13/10/2023 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | — | 31/03/2015 | 13/10/2023 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | 1 property | 31/03/2015 | 20/04/2022 | |
| satisfied | Aldermore Aldermore Bank PLC | A registered charge | — | 31/03/2015 | 13/10/2023 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 1 property | 26/06/2014 | 07/06/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 1 property | 26/06/2014 | 07/06/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 1 property | 26/06/2014 | 07/06/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 1 property | 26/06/2014 | 07/06/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 1 property | 26/06/2014 | 07/06/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 2 properties | 26/06/2014 | 07/06/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | 1 property | 25/06/2014 | 11/04/2017 | |
| satisfied | Lancashire Mortgage Corporation Lancashire Mortgage Corporation Limited | A registered charge | — | 18/06/2014 | 21/04/2015 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | Standard security | 1 property | 12/02/2008 | 05/12/2014 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 17/12/2007 | 05/04/2022 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 17/12/2007 | 05/04/2022 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Legal charge | 1 property | 22/05/2007 | 30/09/2014 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 19/01/2006 | 05/12/2014 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 18/01/2006 | 05/12/2014 | |
| satisfied | Scottish Courage Scottish Courage Limited | Floating charge | 1 property | 29/10/2004 | 27/08/2013 | |
| satisfied | David Cohen | Floating charge | 2 properties | 06/07/2004 | 27/08/2013 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Floating charge | 1 property | 06/07/2004 | 30/09/2014 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 23/12/2003 | 18/01/2008 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 10/09/2001 | 05/12/2014 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 27/02/2001 | 05/12/2014 | |
| satisfied | Scottish Courage Scottish Courage Limited | Standard security | 1 property | 29/12/2000 | 07/06/2017 | |
| satisfied | Scottish Courage Scottish Courage Limited | Standard security | 1 property | 26/06/2000 | 18/01/2008 | |
| satisfied | Scottish Courage Scottish Courage Limited | Standard security | 1 property | 26/06/2000 | 13/10/2023 | |
| satisfied | Scottish Courage Scottish Courage Limited | Floating charge | 1 property | 21/06/2000 | 18/01/2008 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 23/10/1997 | 18/01/2008 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 23/05/1997 | 01/07/2014 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (220 total)
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-03-10
confirmation-statement-with-updates
confirmation-statement · CS01
2026-03-10
legacy
insolvency · CAP-SS
2026-03-06
legacy
capital · SH20
2026-03-06
resolution
resolution · RESOLUTIONS
2026-03-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-19
confirmation-statement-with-updates
confirmation-statement · CS01
2025-12-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-08-04
gazette-filings-brought-up-to-date
gazette · DISS40
2025-08-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-07-30
dissolved-compulsory-strike-off-suspended
dissolution · DISS16(SOAS)
2025-06-05
gazette-notice-compulsory
gazette · GAZ1
2025-05-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-07-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-28
mortgage-satisfy-charge-full
mortgage · MR04
2023-10-13