BREAD MATTERS LIMITED

💤Zombieactive
SC377508 · ltd · incorporated 2010-04-26
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.
🔒Estimated value
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Turnover
year to Dec 2024
Net worth
£-13.0k
book net assets
Opportunity
80/100
Exceptional
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What this business does
Primary activity: Other business support service activities n.e.c.
Sector: Administrative & support services
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (83/100, director aged 78). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (73/100).

Data confidence

Overall: medium (79/100)

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
Confirmed no charges registered
85
Directors & officers
2 officers (1 active, 2 linked, 2 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
36 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
80/100Exceptional
PassWatchWorth a lookStrongExceptional 

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 105 (micro)
Negative net assets
Liabilities exceed assets by £13,039

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
-£13k
↓ 294% YoY
Current Assets
£27k
↑ 43% YoY
Current Liabilities
-£13k-£5k£3k£11k£19k£27kDec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)
Metric2024-12-312023-12-31
Total assets£-13.0k£-3.3k
Current assets£27.5k£19.2k
Net assets£-13.0k£-3.3k

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 confirmation-statement
Last 90 days
1
filing
  • 1 confirmation-statement
Last 180 days
1
filing
  • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (19 events)Click to expand
  1. 2025-04-02
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-05-21
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-04-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2022-08-02
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2021-09-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2020-12-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2019-09-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2019-06-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  9. 2018-09-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2018-04-27
    BURKE, Veronica Joan resigned
    director
  11. 2017-05-06
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2016-09-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  13. 2016-05-04
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  14. 2015-09-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2015-04-28
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 2014-09-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  17. 2010-04-26
    🏢
    Company incorporated
    As BREAD MATTERS LIMITED
  18. 2010-04-26
    WHITLEY, Andrew Michael appointed
    director
  19. 2010-04-26
    BURKE, Veronica Joan appointed
    director

Owner dependency

100/100
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 16 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 78 — succession pressure is live.

Succession & seller-readiness

98/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 78 years old. Natural succession window is now.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 16 years.
  • secondaryStable-but-static management: Company is 16 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 · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Andrew Michael Whitley
Individual · British · DOB 01/1948 · age 78
75100%
75-100% shares06/04/2017

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 →

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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
Incorporated2010-04-26
Jurisdictionscotland
Primary SIC82990 — Other business support service activities n.e.c.

Registered office

25 Castle Terrace
Edinburgh
EH1 2ER

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-04-09
Last: 2026-03-26

Officers (1 active · 1 resigned)

WHITLEY, Andrew Michael
director · ~78y · appointed 2010-04-26
View their other companies + combined net worth →
Active
BURKE, Veronica Joan
director · ~71y · appointed 2010-04-26 · resigned 2018-04-27
Resigned

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

Recent filings (36 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-01
accounts-with-accounts-type-micro-entity
accounts · AA
2025-04-02
accounts-with-accounts-type-micro-entity
accounts · AA
2024-05-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-05-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-04-28
accounts-with-accounts-type-micro-entity
accounts · AA
2023-04-17
accounts-with-accounts-type-micro-entity
accounts · AA
2022-08-02
confirmation-statement-with-updates
confirmation-statement · CS01
2022-04-29
accounts-with-accounts-type-micro-entity
accounts · AA
2021-09-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-06-28
accounts-with-accounts-type-micro-entity
accounts · AA
2020-12-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-06-15
accounts-with-accounts-type-micro-entity
accounts · AA
2019-09-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-06-14