X-SPAND LTD

🏛️Establishedactive
SC599133 · ltd · incorporated 2018-06-06
Investment thesis
Property vehicle with leveraged stack — refinance / partial-release angle.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2025
Net worth
—
book net assets
Opportunity
75/100
Strong
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What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Pursue
Property-backed borrower with a 74-year-old founder — textbook succession opportunity.

Opportunity 75/100 (strong), bankability 57/100. Strong seller-intent signal (60/100, director aged 74). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

6 live charges · 3 lenders · oldest 7.7y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 7.7 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (77/100)

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
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
4 officers (4 active, 4 linked, 2 with DOB)
80
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
24 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
55
Adequate — check latest filings for context.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
82
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Jun 2024Jun 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-06-302024-06-30
Average employees0100

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
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (25 events)Click to expand
  1. 2026-03-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-03-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-03-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-02-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-03-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-04-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2020-03-06
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2019-05-15
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  9. 2019-05-15
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  10. 2019-05-15
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  11. 2019-05-14
    🔒
    Charge registered #6
    Lender: Shawbrook Bank Limited
  12. 2019-05-14
    🔒
    Charge registered #5
    Lender: Shawbrook Bank Limited
  13. 2019-05-14
    🔒
    Charge registered #4
    Lender: Shawbrook Bank Limited
  14. 2018-10-18
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  15. 2018-10-15
    🔒
    Charge registered #3
    Lender: Charter Court Financial Services Limited
  16. 2018-10-10
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  17. 2018-10-04
    🔒
    Charge registered #2
    Lender: The Mortgage Works UK PLC
  18. 2018-10-02
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  19. 2018-09-29
    🔒
    Charge registered #1
    Lender: The Mortgage Works UK PLC
  20. 2018-06-06
    🏢
    Company incorporated
    As X-SPAND LTD
  21. 2018-06-06
    ➕
    VINOGRADOV-WOUTERS, Alexander Scott appointed
    secretary
  22. 2018-06-06
    ➕
    VINOGRADOV-WOUTERS, Darya Valentine appointed
    secretary
  23. 2018-06-06
    ➕
    VINOGRADOV, Sergei Vladimir, Dr appointed
    director
  24. 2018-06-06
    ➕
    WOUTERS, Patricia appointed
    director
  25. 2018-06-06
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

73/100
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.
  • +Founder age: Director aged approximately 74 — succession pressure is live.

Succession & seller-readiness

66/100
Strong succession signal

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 74 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

1 low
6 live charges
low

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

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mrs Patricia Wouters
Individual · Belgian · DOB 06/1957 · age 69
25–50%
—25-50% shares06/06/2018
Dr Sergei Vladimir Vinogradov
Individual · British · DOB 08/1952 · age 74
25–50%
—25-50% shares06/06/2018

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

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
Incorporated2018-06-06
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

29 Commercial Street
Dundee
DD1 3DG
Scotland

Filing status

Accounts
Next due: 2027-03-31
Last made up to: 2025-06-30
Confirmation statement
Next due: 2027-04-12
Last: 2026-03-29

Officers (4 active · 0 resigned)

VINOGRADOV-WOUTERS, Alexander Scott→
secretary · appointed 2018-06-06
View their other companies + combined net worth →
Active
VINOGRADOV-WOUTERS, Darya Valentine→
secretary · appointed 2018-06-06
View their other companies + combined net worth →
Active
VINOGRADOV, Sergei Vladimir, Dr→
director · ~74y · appointed 2018-06-06
View their other companies + combined net worth →
Active
WOUTERS, Patricia→
director · ~69y · appointed 2018-06-06
View their other companies + combined net worth →
Active

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

Mortgages & charges

6
Total charges
6
Outstanding
3
Active lenders
Status:Lender:6 of 6 shown
TypeProperties
outstanding
Shawbrook
Shawbrook Bank Limited
A registered charge1 property14/05/2019—
outstanding
Shawbrook
Shawbrook Bank Limited
A registered charge1 property14/05/2019—
outstanding
Shawbrook
Shawbrook Bank Limited
A registered charge1 property14/05/2019—
outstanding
Precise Mortgages
Charter Court Financial Services Limited
A registered charge1 property15/10/2018—
outstanding
The Mortgage Works UK
The Mortgage Works UK PLC
A registered charge1 property04/10/2018—
outstanding
The Mortgage Works UK
The Mortgage Works UK PLC
A registered charge1 property29/09/2018—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (24 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-05-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-03-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-04-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-02-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-04-01
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-03-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-04-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-04-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-03-06
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2019-05-15