I-SPI LTD.

🌳Matureactive
SC177441 · ltd · incorporated 1997-07-22
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.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 23.7y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£-94.7k
book net assets
Opportunity
78/100
Strong
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What this business does
Primary activity: Non-specialised wholesale trade
Sector: Wholesale & retail
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

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: distressed disposal / insolvency (65/100).

🏦

Refinance opportunity

1 live charge · oldest 23.7y

65/100
clean up first

Refinance viable after a tidy-up — address the highlighted items first.

  • · Oldest live charge is 23.7 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
8 officers (2 active, 8 linked, 5 with DOB)
83
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
83 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 declared
Negative net assets
Liabilities exceed assets by £94,676

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
-£95k
↓ 31% YoY
Current Assets
£60k
↓ 34% YoY
Current Liabilities
—
-£95k-£58k-£21k£16k£53k£90kMar 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£-69.2k£-33.5k
Current assets£59.5k£89.6k
Cash—£16.5k
Debtors£26.5k£30.3k
Net assets£-94.7k£-72.2k

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 (32 events)Click to expand
  1. 2025-07-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-06-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-08-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-06-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-06-10
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  6. 2022-06-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  7. 2021-05-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2020-09-10
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  9. 2020-09-10
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  10. 2020-09-10
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  11. 2020-08-28
    ➖
    FERRIE, Linda resigned
    secretary
  12. 2020-08-28
    ➖
    FERRIE, Bethany resigned
    director
  13. 2020-08-28
    ➖
    FERRIE, Linda resigned
    director
  14. 2020-06-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2019-05-20
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  16. 2019-05-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2019-04-09
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  18. 2018-06-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2017-07-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2015-12-18
    ➕
    FERRIE, Bethany appointed
    director
  21. 2010-08-10
    ➕
    FERRIE, Sean appointed
    director
  22. 2010-08-10
    ➕
    FERRIE, Stephen appointed
    director
  23. 2010-08-10
    ➕
    FERRIE, Linda appointed
    director
  24. 2010-08-04
    ➖
    FERRIE, Christopher resigned
    director
  25. 2002-08-17
    🔒
    Charge registered #1
    Lender: Lloyds Tsb Scotland PLC
  26. 1997-09-16
    ➕
    FERRIE, Linda appointed
    secretary
  27. 1997-09-16
    ➖
    ASHCROFT CAMERON SECRETARIES LIMITED resigned
    corporate-nominee-secretary
  28. 1997-09-16
    ➕
    FERRIE, Christopher appointed
    director
  29. 1997-09-16
    ➖
    ASHCROFT CAMERON NOMINEES LIMITED resigned
    corporate-nominee-director
  30. 1997-07-22
    🏢
    Company incorporated
    As I-SPI LTD.
  31. 1997-07-22
    ➕
    ASHCROFT CAMERON SECRETARIES LIMITED appointed
    corporate-nominee-secretary
  32. 1997-07-22
    ➕
    ASHCROFT CAMERON NOMINEES LIMITED appointed
    corporate-nominee-director

Owner dependency

76/100
High — earn-out structure required

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

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 16 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 signal

Multiple 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 16 years.
  • secondaryStable-but-static management: Company is 29 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

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
Sean Ferrie
Individual · British · DOB 05/1991 · age 35
25–50%
25–50%25-50% shares · 25-50% voting28/08/2020
Mr Stephen Ferrie
Individual · British · DOB 05/1988 · age 38
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

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
Typeltd
Incorporated1997-07-22
Jurisdictionscotland
Primary SIC46900 — Non-specialised wholesale trade

Registered office

Unit 3.3 19 Starling Way
Strathclyde Business Park
Bellshill
ML4 3PU
Scotland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-09-25
Last: 2025-09-11

Officers (2 active · 6 resigned)

FERRIE, Sean→
director · ~35y · appointed 2010-08-10
View their other companies + combined net worth →
Active
FERRIE, Stephen→
director · ~38y · appointed 2010-08-10
View their other companies + combined net worth →
Active
FERRIE, Linda→
secretary · appointed 1997-09-16 · resigned 2020-08-28
Resigned
ASHCROFT CAMERON SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 1997-07-22 · resigned 1997-09-16
Resigned
FERRIE, Bethany→
director · ~28y · appointed 2015-12-18 · resigned 2020-08-28
Resigned
FERRIE, Christopher→
director · ~62y · appointed 1997-09-16 · resigned 2010-08-04
Resigned
FERRIE, Linda→
director · ~63y · appointed 2010-08-10 · resigned 2020-08-28
Resigned
ASHCROFT CAMERON NOMINEES LIMITED→
corporate-nominee-director · appointed 1997-07-22 · resigned 1997-09-16
Resigned

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
TypeProperties
outstanding
Lloyds Banking Group
Lloyds Tsb Scotland PLC
Bond & floating charge1 property17/08/2002—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (83 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-07-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-06-17
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2022-06-10
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-06-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-09-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-27
confirmation-statement-with-updates
confirmation-statement · CS01
2020-09-11
termination-secretary-company-with-name-termination-date
officers · TM02
2020-09-10
termination-director-company-with-name-termination-date
officers · TM01
2020-09-10