VARY RECRUITMENT LIMITED

⚰️Wound downliquidation
SC358385 · ltd · incorporated 2009-04-20
Investment thesis
Company liquidation — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
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
—
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Turnover
—
year to Oct 2020
Net worth
£101.2k
book net assets
Opportunity
36/100
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What this business does
Primary activity: Temporary employment agency activities
Sector: Administrative & support services
Investor take
Pass (distressed without resilience)
Distressed low-transparency controlled group — structural issues outweigh the discount.

Opportunity 36/100 (watch), bankability 12/100. 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: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: asset disposal / carve-out (90/100). Current lenders should be on immediate intervention.

🏦

Refinance opportunity

5 live charges · 5 lenders · oldest 17.1y

25/100
too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

  • · Oldest live charge is 17.1 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 55/100 (high).

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
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
7 officers (1 active, 7 linked, 6 with DOB)
87
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
66 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
36/100Watch
PassWatchWorth a lookStrongExceptional 

Not actionable now, but monitor — distressed, succession, or structural changes could flip this into a real opportunity.

Business quality
0
Concerning — overdue filings or status flags present.
Acquirability
55
Some acquirability indicators.
Risk profile
23
Multiple red flags — proceed with caution.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £101,178
Cash YoY
+526%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£200k
↑ 526% YoY
Net Worth
£101k
↑ 38% YoY
Current Assets
£727k
↓ 46% YoY
Current Liabilities
—
£0£268k£536k£804k£1.1m£1.3mOct 2019Oct 2020

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2020-10-302019-10-30
Total assets£102.7k£86.9k
Current assets£727.2k£1.34M
Cash£199.5k£31.9k
Debtors£527.6k£1.31M
Net assets£101.2k£73.2k

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

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 (42 events)Click to expand
  1. 2025-11-13
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  2. 2025-09-26
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  3. 2025-09-26
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  4. 2022-05-25
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  5. 2022-04-08
    📄
    resolution
    resolution · RESOLUTIONS
  6. 2022-03-15
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  7. 2022-03-15
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  8. 2022-02-10
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  9. 2022-02-10
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2021-10-04
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  11. 2021-09-01
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  12. 2021-08-07
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  13. 2021-08-07
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  14. 2021-07-23
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  15. 2021-07-06
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  16. 2021-06-01
    ➕
    CHARALAMBOUSE, Nicholas appointed
    director
  17. 2021-06-01
    ➖
    MULVEY, Paul resigned
    director
  18. 2021-01-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2020-10-31
    📄
    change-account-reference-date-company-current-shortened
    accounts · AA01
  20. 2020-10-22
    📄
    change-person-director-company-with-change-date
    officers · CH01
  21. 2020-10-22
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  22. 2020-10-10
    ➕
    MULVEY, Paul appointed
    director
  23. 2020-06-01
    ➖
    MANLEY, Roderick resigned
    director
  24. 2020-06-01
    ➖
    MELVIN, Katrina resigned
    director
  25. 2020-01-31
    📄
    change-account-reference-date-company-previous-extended
    accounts · AA01
  26. 2019-01-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  27. 2018-08-16
    🔓
    Charge satisfied #3
  28. 2015-09-29
    🔒
    Charge registered #5
    Lender: Barclays Bank PLC
  29. 2015-06-02
    🔒
    Charge registered #4
    Lender: Aldermore Bank PLC
  30. 2014-11-17
    ➖
    GILMOUR, Edward resigned
    director
  31. 2013-09-20
    ➖
    BROWN, Katrina resigned
    secretary
  32. 2013-09-20
    ➕
    MELVIN, Katrina appointed
    director
  33. 2013-09-13
    🔓
    Charge satisfied #2
  34. 2013-02-08
    ➕
    GILMOUR, Edward appointed
    director
  35. 2012-10-22
    🔒
    Charge registered #3
    Lender: West of Scotland Loan Fund
  36. 2011-05-11
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  37. 2009-05-12
    ➕
    BROWN, Katrina appointed
    secretary
  38. 2009-05-12
    ➖
    BROWN, Katrina resigned
    director
  39. 2009-05-01
    🔒
    Charge registered #1
    Lender: Cattles Invoice Finance Limited
  40. 2009-04-20
    🏢
    Company incorporated
    As VARY RECRUITMENT LIMITED
  41. 2009-04-20
    ➕
    BROWN, Katrina appointed
    director
  42. 2009-04-20
    ➕
    MANLEY, Roderick appointed
    director

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

55/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondaryStable-but-static management: Company is 17 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

3 high · 1 med ·
Accounts overdue
high

Statutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.

Evidence: Next due: 2022-07-30

Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2023-03-29

Company in liquidation
high

Company is actively being wound up. Not a going concern.

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.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Nicholas Charalambouse
Individual · Scottish · DOB 06/1970 · age 56
75–100%
75–100%board control75-100% shares · 75-100% voting · board control01/02/2021
1 historic (ceased) PSC
  • Mr Roderick Manleyceased 01/02/2021· significant influence

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

13 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

Statusliquidation
Typeltd
Incorporated2009-04-20
Jurisdictionscotland
Primary SIC78200 — Temporary employment agency activities

Registered office

Clyde Offices, 2nd Floor
48 West George Street
Glasgow
G2 1BP

Filing status

Accounts
Next due: 2022-07-30OVERDUE
Last made up to: 2020-10-30
Confirmation statement
Next due: 2023-03-29OVERDUE
Last: 2022-03-15

Officers (1 active · 6 resigned)

CHARALAMBOUSE, Nicholas→
director · ~56y · appointed 2021-06-01
View their other companies + combined net worth →
Active
BROWN, Katrina→
secretary · appointed 2009-05-12 · resigned 2013-09-20
Resigned
BROWN, Katrina→
director · ~58y · appointed 2009-04-20 · resigned 2009-05-12
Resigned
GILMOUR, Edward→
director · ~62y · appointed 2013-02-08 · resigned 2014-11-17
Resigned
MANLEY, Roderick→
director · ~61y · appointed 2009-04-20 · resigned 2020-06-01
Resigned
MELVIN, Katrina→
director · ~58y · appointed 2013-09-20 · resigned 2020-06-01
Resigned
MULVEY, Paul→
director · ~50y · appointed 2020-10-10 · resigned 2021-06-01
Resigned

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

Mortgages & charges

5
Total charges
3
Outstanding
3
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
outstanding
Barclays
Barclays Bank PLC
A registered charge—29/09/2015—
outstanding
Aldermore
Aldermore Bank PLC
A registered charge—02/06/2015—
satisfied
West of Scotland Loan Fund
Floating charge1 property22/10/201216/08/2018
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Floating charge1 property11/05/201113/09/2013
outstanding
Cattles Invoice Finance
Cattles Invoice Finance Limited
Floating charge1 property01/05/2009—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (66 total)

change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-11-13
termination-director-company-with-name-termination-date
officers · TM01
2025-09-26
termination-director-company-with-name-termination-date
officers · TM01
2025-09-26
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-05-25
resolution
resolution · RESOLUTIONS
2022-04-08
confirmation-statement-with-updates
confirmation-statement · CS01
2022-03-15
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2022-03-15
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-03-15
termination-director-company-with-name-termination-date
officers · TM01
2022-02-10
appoint-person-director-company-with-name-date
officers · AP01
2022-02-10
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-10-04
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-09-01
termination-director-company-with-name-termination-date
officers · TM01
2021-08-07
termination-director-company-with-name-termination-date
officers · TM01
2021-08-07
gazette-filings-brought-up-to-date
gazette · DISS40
2021-07-23