COVER CREW LIMITED

💤Zombieactive
SC262013 · ltd · incorporated 2004-01-16
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 Mar 2026
Net worth
£99.7k
book net assets
Opportunity
77/100
Strong
🔔
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What this business does
Primary activity: Temporary employment agency activities
Sector: Administrative & support services
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 77/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -42% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 22.3y

30/100
under pressure

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

  • · Oldest live charge is 22.3 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (83/100)

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

Company profile
address, 1 SIC codes, incorporation date
100
Financials
3 years of iXBRL accounts extracted + narrative notes parsed
95
Lenders & charges
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
11 officers (2 active, 11 linked, 5 with DOB)
79
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
110 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
77/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
60
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
Positive net assets
Net assets £99,737
Net assets shrinking
Down £60,994 YoY
Cash draining
Cash down 42% YoY
Cash YoY
-42%
Year on year

Key financials

3 years extracted from filed iXBRL accounts
Cash
£27k
↓ 42% YoY
Net Worth
£100k
↓ 38% YoY
Current Assets
£163k
↓ 30% YoY
Current Liabilities
—
£0£49k£98k£147k£197k£246kMar 2024Mar 2025Mar 2026

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2026-03-312025-03-312024-03-31
Total assets£138.8k£205.5k£249.3k
Current assets£162.5k£232.3k£245.8k
Cash£27.4k£47.0k£75.5k
Debtors£135.1k£185.4k£170.3k
Net assets£99.7k£160.7k£171.6k

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
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
3
filings
  • • 1 accounts
  • • 1 confirmation-statement
  • • 1 officers
Counts from Companies House filing history.
Corporate timeline (40 events)Click to expand
  1. 2026-07-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2026-03-03
    ➖
    STEPHEN, Kenneth resigned
    director
  3. 2026-03-03
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  4. 2025-09-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2024-08-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-08-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2022-09-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2022-01-28
    📄
    change-person-director-company-with-change-date
    officers · CH01
  9. 2021-09-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-03-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-01-19
    📄
    change-corporate-secretary-company-with-change-date
    officers · CH04
  12. 2021-01-19
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  13. 2019-12-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2018-12-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2017-12-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2017-07-20
    📄
    memorandum-articles
    incorporation · MA
  17. 2017-07-20
    📄
    resolution
    resolution · RESOLUTIONS
  18. 2015-09-30
    ➖
    SHELTON, Freda resigned
    director
  19. 2015-02-26
    ➖
    BEATON, John William resigned
    director
  20. 2012-04-19
    ➕
    STEPHEN, Kenneth appointed
    director
  21. 2012-04-09
    ➕
    JAMES AND GEORGE COLLIE LLP appointed
    corporate-secretary
  22. 2012-04-09
    ➖
    LAWS, Frank resigned
    secretary
  23. 2006-09-14
    🔓
    Charge satisfied #1
  24. 2006-05-11
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Scotland
  25. 2005-11-03
    ➕
    LAWS, Frank appointed
    secretary
  26. 2005-11-03
    ➖
    SHELTON, Freda resigned
    secretary
  27. 2005-09-30
    ➖
    BOOTH, David resigned
    secretary
  28. 2005-09-30
    ➕
    SHELTON, Freda appointed
    secretary
  29. 2005-09-30
    ➕
    BEATON, John William appointed
    director
  30. 2005-09-30
    ➖
    BOOTH, David resigned
    director
  31. 2005-09-30
    ➕
    SHELTON, Freda appointed
    director
  32. 2004-04-01
    ➖
    @UKPLC CLIENT SECRETARY LTD resigned
    corporate-nominee-secretary
  33. 2004-04-01
    ➖
    @UKPLC CLIENT DIRECTOR LTD resigned
    corporate-nominee-director
  34. 2004-03-20
    🔒
    Charge registered #1
    Lender: Clydesdale Bank Public Limited Company
  35. 2004-01-16
    🏢
    Company incorporated
    As COVER CREW LIMITED
  36. 2004-01-16
    ➕
    SHELTON, Neil Maurice Richard appointed
    director
  37. 2004-01-16
    ➕
    BOOTH, David appointed
    secretary
  38. 2004-01-16
    ➕
    @UKPLC CLIENT SECRETARY LTD appointed
    corporate-nominee-secretary
  39. 2004-01-16
    ➕
    BOOTH, David appointed
    director
  40. 2004-01-16
    ➕
    @UKPLC CLIENT DIRECTOR LTD appointed
    corporate-nominee-director

Owner dependency

85/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Long-tenure founder: Senior director has been in place 22 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

75/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 22 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 22 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

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Neil Maurice Richard Shelton
Individual · British · DOB 06/1970 · age 56
50–75%
50–75%50-75% shares · 50-75% 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

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 →
🔒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
Incorporated2004-01-16
Jurisdictionscotland
Primary SIC78200 — Temporary employment agency activities

Registered office

Unit 12 Spurryhillock Industrial Estate
Stonehaven
Aberdeenshire
AB39 2NH
Scotland

Filing status

Accounts
Next due: 2027-12-31
Last made up to: 2026-03-31
Confirmation statement
Next due: 2027-01-30
Last: 2026-01-16

Officers (2 active · 9 resigned)

JAMES AND GEORGE COLLIE LLP→
corporate-secretary · appointed 2012-04-09
View their other companies + combined net worth →
Active
SHELTON, Neil Maurice Richard→
director · ~56y · appointed 2004-01-16
View their other companies + combined net worth →
Active
BOOTH, David→
secretary · appointed 2004-01-16 · resigned 2005-09-30
Resigned
LAWS, Frank→
secretary · appointed 2005-11-03 · resigned 2012-04-09
Resigned
SHELTON, Freda→
secretary · appointed 2005-09-30 · resigned 2005-11-03
Resigned
@UKPLC CLIENT SECRETARY LTD→
corporate-nominee-secretary · appointed 2004-01-16 · resigned 2004-04-01
Resigned
BEATON, John William→
director · ~56y · appointed 2005-09-30 · resigned 2015-02-26
Resigned
BOOTH, David→
director · ~54y · appointed 2004-01-16 · resigned 2005-09-30
Resigned
SHELTON, Freda→
director · ~80y · appointed 2005-09-30 · resigned 2015-09-30
Resigned
STEPHEN, Kenneth→
director · ~76y · appointed 2012-04-19 · resigned 2026-03-03
Resigned
@UKPLC CLIENT DIRECTOR LTD→
corporate-nominee-director · appointed 2004-01-16 · resigned 2004-04-01
Resigned

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

Mortgages & charges

2
Total charges
1
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Bond & floating charge1 property11/05/2006—
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Floating charge1 property20/03/200414/09/2006
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (110 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-07-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-17
termination-director-company-with-name-termination-date
officers · TM01
2026-03-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-09-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-08-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-09-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-28
change-person-director-company-with-change-date
officers · CH01
2022-01-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-03-23
change-corporate-secretary-company-with-change-date
officers · CH04
2021-01-19