ATOM CONTRACTS LIMITED

🚨Distressedactive
SC486665 · ltd · incorporated 2014-09-16
Investment thesis
Distressed but structurally messy — likely a value trap without major surgery.
Why interesting: Headline may look cheap; sector may be recovering.
Why risky: Critical deal-killers in ownership or security; closing cost and post-deal clean-up likely to dominate.
Why now
Window closing · high confidence
Becoming a value trap — thesis has degraded toward "distressed messy".
  • · Lifecycle stage: mature → distressed
  • · Investment thesis: unclassified → distressed_messy
  • · Hygiene score: 90 → 50
  • · Bankability: 57 → 37
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
  • · Lifecycle stage drifting downward
  • · Currently "distressed"
What changed my view
Last 30 days

Picture worsened over the last 30 days — 6 negative signals vs 0 positive.

  • ↓Lifecycle stage: mature → distressed
  • ·Investment thesis: unclassified → distressed_messy
  • ↓Deal-killer verdict: complicated → high-friction
  • ↓Opportunity score: 67 → 57
  • ↓Hygiene score: 90 → 50
  • +2 more
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 Sept 2024
Net worth
£-185.3k
book net assets
Opportunity
57/100
Worth a look
🔔
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What this business does
Primary activity: Other construction installation
Sector: Construction
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 57/100 (worth a look), bankability 37/100. 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: distressed disposal / insolvency (65/100).

🏦

Refinance opportunity

58 live charges · 27 lenders · oldest 7.8y

15/100
under pressure

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

  • · Oldest live charge is 7.8 years old — likely at or near maturity.
  • · 27 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (81/100)

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
58 charges (58/58 with lender, 58/58 with type)
90
Directors & officers
3 officers (2 active, 3 linked, 3 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
98 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
57/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
45
Concerning — overdue filings or status flags present.
Acquirability
55
Some acquirability indicators.
Risk profile
48
Multiple red flags — proceed with caution.
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 £185,322

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
-£185k
↓ 30% YoY
Current Assets
£193k
↓ 56% YoY
Current Liabilities
—
-£185k-£60k£64k£189k£314k£439kSept 2023Sept 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-09-302023-09-30
Total assets£-135.3k£771.4k
Current assets£193.4k£438.9k
Net assets£-185.3k£-142.5k

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
2
filings
  • • 2 mortgage
Counts from Companies House filing history.
Corporate timeline (98 events)Click to expand
  1. 2026-02-17
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  2. 2026-02-12
    🔒
    Charge registered #58
    Lender: Paul Lewis Garfield Mulvey
  3. 2026-02-11
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  4. 2026-01-28
    🔒
    Charge registered #57
    Lender: Mjl Global Services Limited
  5. 2025-12-17
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  6. 2025-11-28
    🔒
    Charge registered #56
    Lender: Mjl Global Services Limited
  7. 2025-11-04
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  8. 2025-11-04
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  9. 2025-10-27
    🔒
    Charge registered #55
    Lender: Ching Ching Yip
  10. 2025-10-16
    🔒
    Charge registered #54
    Lender: Kwun Sing Cheung
  11. 2025-10-04
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  12. 2025-10-04
    🔓
    Charge satisfied #10
  13. 2025-09-22
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  14. 2025-09-17
    🔒
    Charge registered #53
    Lender: Angus Kerr Storrie and Elaine Sandra Storrie
  15. 2025-08-07
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2025-07-23
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  17. 2025-07-22
    🔒
    Charge registered #52
    Lender: Brugus Estates Limited
  18. 2025-02-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  19. 2025-01-28
    🔒
    Charge registered #51
    Lender: Clarke Signs Scotland Limited
  20. 2025-01-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  21. 2025-01-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  22. 2024-12-30
    🔒
    Charge registered #50
    Lender: Mjl Global Services Limited
  23. 2024-12-30
    🔒
    Charge registered #49
    Lender: Onyx International Investments Limited
  24. 2024-12-23
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  25. 2024-12-19
    🔒
    Charge registered #48
    Lender: Yi Ren
  26. 2024-09-02
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  27. 2024-08-28
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  28. 2024-08-21
    🔒
    Charge registered #47
    Lender: Raven Property Investment LTD
  29. 2024-08-12
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  30. 2024-08-01
    ➕
    CONDY, Lynn Margaret appointed
    director
  31. 2024-07-27
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  32. 2024-07-24
    🔒
    Charge registered #46
    Lender: Raven Property Investment Limited
  33. 2024-03-25
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  34. 2024-03-07
    🔒
    Charge registered #45
    Lender: Raven Property Investment Limited
  35. 2024-01-26
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  36. 2024-01-26
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  37. 2024-01-22
    🔒
    Charge registered #44
    Lender: Actioning (UK) Limited
  38. 2024-01-22
    🔒
    Charge registered #43
    Lender: Ben Cullen
  39. 2024-01-18
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  40. 2024-01-15
    🔒
    Charge registered #42
    Lender: Clarke Signs Scotland Limited
  41. 2023-11-15
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  42. 2023-11-10
    🔒
    Charge registered #41
    Lender: Properties for Us LTD
  43. 2023-06-16
    🔒
    Charge registered #40
    Lender: New Beginnings Property LTD
  44. 2023-05-17
    🔒
    Charge registered #39
    Lender: Goldson Properties LTD
  45. 2023-02-20
    🔒
    Charge registered #38
    Lender: Raven Property Investment LTD
  46. 2023-02-19
    🔒
    Charge registered #37
    Lender: Greenfield Housing Limited
  47. 2023-01-23
    🔒
    Charge registered #36
    Lender: Clarke Signs Scotland Limited
  48. 2023-01-16
    🔒
    Charge registered #35
    Lender: Ben Cullen
  49. 2022-12-06
    🔒
    Charge registered #34
    Lender: Properties for Us LTD
  50. 2022-11-09
    🔒
    Charge registered #33
    Lender: Triple Gems Investment LTD
Showing most recent 50 of 98 events

Owner dependency

66/100
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.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

36/100
Weak signal

Limited succession signal. Not a near-term off-market candidate.

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

1 high · 2 med · 1 low
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: 2026-06-30

7 new charges in last 12 months
medium

Heavy recent charge activity can indicate refinancing pressure, aggressive leverage, or multiple lender rotation.

Evidence: 2026-02-12: A registered charge; 2026-01-28: A registered charge; 2025-11-28: A registered charge

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.

45 live charges
low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Alan Campbell Condy
Individual · British · DOB 01/1981 · age 45
——sig. influencesignificant influence06/04/2016

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

10 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
Incorporated2014-09-16
Jurisdictionscotland
Primary SIC43290 — Other construction installation

Registered office

Unit 261 Abbey Mill Business Centre
Paisley
PA1 1TJ
Scotland

Filing status

Accounts
Next due: 2026-06-30OVERDUE
Last made up to: 2024-09-30
Confirmation statement
Next due: 2026-09-30
Last: 2025-09-16

Officers (2 active · 1 resigned)

CONDY, Alan Campbell→
director · ~45y · appointed 2016-07-13
View their other companies + combined net worth →
Active
CONDY, Lynn Margaret→
director · ~45y · appointed 2024-08-01
View their other companies + combined net worth →
Active
CONDY, Lynn Margaret→
director · ~45y · appointed 2014-09-16 · resigned 2016-09-14
Resigned

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

Mortgages & charges

58
Total charges
45
Outstanding
23
Active lenders
Status:Lender:58 of 58 shown
TypeProperties
outstanding
Paul Lewis Garfield Mulvey
A registered charge1 property12/02/2026—
outstanding
Mjl Global Services
Mjl Global Services Limited
A registered charge1 property28/01/2026—
outstanding
Mjl Global Services
Mjl Global Services Limited
A registered charge1 property28/11/2025—
outstanding
Ching Ching Yip
A registered charge1 property27/10/2025—
outstanding
Kwun Sing Cheung
A registered charge1 property16/10/2025—
outstanding
Angus Kerr Storrie and Elaine Sandra Storrie
A registered charge1 property17/09/2025—
outstanding
Brugus Estates
Brugus Estates Limited
A registered charge1 property22/07/2025—
outstanding
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property28/01/2025—
outstanding
Mjl Global Services
Mjl Global Services Limited
A registered charge1 property30/12/2024—
outstanding
Onyx International Investments
Onyx International Investments Limited
A registered charge1 property30/12/2024—
outstanding
Yi Ren
A registered charge1 property19/12/2024—
outstanding
Raven Property Investment
Raven Property Investment LTD
A registered charge1 property21/08/2024—
outstanding
Raven Property Investment
Raven Property Investment Limited
A registered charge1 property24/07/2024—
outstanding
Raven Property Investment
Raven Property Investment Limited
A registered charge1 property07/03/2024—
outstanding
Actioning (UK)
Actioning (UK) Limited
A registered charge1 property22/01/2024—
outstanding
Ben Cullen
A registered charge1 property22/01/2024—
outstanding
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property15/01/2024—
outstanding
Properties for Us
Properties for Us LTD
A registered charge1 property10/11/2023—
outstanding
New Beginnings Property
New Beginnings Property LTD
A registered charge1 property16/06/2023—
outstanding
Goldson Properties
Goldson Properties LTD
A registered charge1 property17/05/2023—
outstanding
Raven Property Investment
Raven Property Investment LTD
A registered charge1 property20/02/2023—
outstanding
Greenfield Housing
Greenfield Housing Limited
A registered charge1 property19/02/2023—
outstanding
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property23/01/2023—
outstanding
Ben Cullen
A registered charge1 property16/01/2023—
outstanding
Properties for Us
Properties for Us LTD
A registered charge1 property06/12/2022—
outstanding
Triple Gems Investment
Triple Gems Investment LTD
A registered charge1 property09/11/2022—
outstanding
Greenfield Housing
Greenfield Housing Limited
A registered charge1 property09/11/2022—
outstanding
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property14/10/2022—
outstanding
Yi Ren
A registered charge1 property02/09/2022—
outstanding
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property20/06/2022—
outstanding
Raven Property Investment
Raven Property Investment LTD
A registered charge1 property26/05/2022—
outstanding
Raven Property Investment
Raven Property Investment LTD
A registered charge1 property18/05/2022—
outstanding
Raven Property Investment
Raven Property Investment LTD
A registered charge1 property16/05/2022—
outstanding
Ben Richard Cullen
A registered charge1 property22/04/2022—
outstanding
H & H Holdings Group (UK)
H & H Holdings Group (UK) LTD
A registered charge1 property06/04/2022—
outstanding
Onyx International Investments
Onyx International Investments Limited
A registered charge1 property02/04/2022—
outstanding
Drishti Capital
Drishti Capital LTD
A registered charge1 property06/11/2021—
outstanding
Greenfield Housing
Greenfield Housing Limited
A registered charge1 property07/09/2021—
satisfied
Newson & Nicholson Solutions
Newson & Nicholson Solutions Limited
A registered charge1 property31/08/202125/08/2022
outstanding
Raven Property Investment
Raven Property Investment LTD
A registered charge1 property26/08/2021—
outstanding
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property30/06/2021—
outstanding
Lin's Properties
Lin's Properties Limited
A registered charge1 property16/06/2021—
outstanding
Lin's Properties
Lin's Properties Limited
A registered charge1 property26/05/2021—
outstanding
Actioning (UK)
Actioning (UK) Limited
A registered charge1 property10/03/2021—
satisfied
Drishti Capital
Drishti Capital LTD
A registered charge1 property11/02/202120/08/2021
outstanding
Actioning (UK) / Property Stable
Actioning (UK) Limited / Property Stable Limited
A registered charge1 property06/01/2021—
satisfied
Newson and Graham
Newson and Graham Limited
A registered charge1 property05/01/202120/08/2021
outstanding
Golden Dream Property
Golden Dream Property LTD
A registered charge1 property05/01/2021—
satisfied
Mjl Global Services
Mjl Global Services Limited
A registered charge1 property05/01/202104/10/2025
satisfied
Clarke Signs Scotland
Clarke Signs Scotland Limited
A registered charge1 property16/12/202020/08/2021
satisfied
Lin's Properties
Lin's Properties Limited
A registered charge1 property14/08/202020/08/2021
satisfied
Mjl Global Services
Mjl Global Services Limited
A registered charge1 property15/06/202020/08/2021
satisfied
Lin's Properties
Lin's Properties Limited
A registered charge1 property18/01/202020/08/2021
satisfied
Clark Signs Scotland
Clark Signs Scotland Limited
A registered charge1 property09/10/201920/08/2021
satisfied
Onyx International Investments
Onyx International Investments Limited
A registered charge1 property26/09/201920/08/2021
satisfied
Raggedy Trading UK
Raggedy Trading UK LTD
A registered charge1 property18/09/201920/08/2021
satisfied
Lin's Properties
Lin's Properties Limited
A registered charge1 property28/11/201820/08/2021
satisfied
Onyx International Investments
Onyx International Investments Limited
A registered charge1 property06/09/201820/08/2021
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (98 total)

mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-02-17
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-02-11
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-12-17
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-11-04
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-11-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-04
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-04
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-09-22
accounts-with-accounts-type-micro-entity
accounts · AA
2025-08-07
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-07-23
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-02-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-01-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-01-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-11-11