CADHERENT LIMITED
Opportunity 74/100 (strong), bankability 67/100. Strong seller-intent signal (68/100, director aged 54). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).
Refinance opportunity
4 live charges · 4 lenders · oldest 11.8y
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 11.8 years old — likely at or near maturity.
- · 4 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (79/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Key financials
2 years extracted from filed iXBRL accountsHover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-05-31 | 2024-05-31 |
|---|---|---|
| Average employees | 14 | 1300 |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
4 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
- • 1 accounts
Corporate timeline (36 events)Click to expand
- 2025-12-16📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-02-12📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-08-27📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2024-08-27📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2024-06-17📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-30🔒Charge registered #4Lender: David Alistair Thomson
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-17📄capital-return-purchase-own-sharescapital · SH03
- 2024-04-05📄capital-cancellation-sharescapital · SH06
- 2024-04-05📄capital-cancellation-sharescapital · SH06
- 2024-04-05📄capital-cancellation-sharescapital · SH06
- 2023-06-13🔓Charge satisfied #3
- 2020-03-10➖REID, Christopher John resigneddirector
- 2018-08-15🔓Charge satisfied #1
- 2018-07-10🔒Charge registered #3Lender: Shawbrook Bank Limited
- 2018-03-01🔓Charge satisfied #2
- 2017-11-16🔒Charge registered #2Lender: Just Cash Flow PLC
- 2014-07-25🔒Charge registered #1Lender: The Royal Bank of Scotland PLC
- 2007-02-28➕REID, Christopher John appointeddirector
- 1998-05-15🏢Company incorporatedAs CADHERENT LIMITED
- 1998-05-15➕WARD, Lindsey Jane appointedsecretary
- 1998-05-15➕THOMSON, David Alistair appointeddirector
- 1998-05-15➕OSWALDS OF EDINBURGH LIMITED appointedcorporate-nominee-secretary
- 1998-05-15➖OSWALDS OF EDINBURGH LIMITED resignedcorporate-nominee-secretary
Owner dependency
The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
- +Sole director: Only one active director — all governance concentrated on one person.
- +Long-tenure founder: Senior director has been in place 28 years — deep operational knowledge concentrated in one person.
Succession & seller-readiness
Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- primary20+ year tenure: Director in role 28 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 28 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 med ·Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Cadherent Group Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
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%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Cadherent Group Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 30/05/2024 |
1 historic (ceased) PSC
- Mr David Alistair Thomsonceased 30/05/2024· 75-100% shares
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
See pricing →Similar companies
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7 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 →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
Registered office
Filing status
Officers (2 active · 2 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | David Alistair Thomson | A registered charge | — | 30/05/2024 | — | |
| satisfied | Shawbrook Shawbrook Bank Limited | A registered charge | — | 10/07/2018 | 13/06/2023 | |
| satisfied | Just Cash Flow Just Cash Flow PLC | A registered charge | — | 16/11/2017 | 01/03/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | — | 25/07/2014 | 15/08/2018 |