AQUA WATER SYSTEMS LIMITED

💤Zombieactive
01945405 · ltd · incorporated 1985-09-06
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
—
Upgrade to see
Turnover
—
year to Dec 2025
Net worth
£62.5k
book net assets
Opportunity
77/100
Strong
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What this business does
Primary activity: SIC 20590
Sector: Manufacturing
Investor take
Pursue
Asset-holding vehicle with a 63-year-old founder — textbook succession opportunity.

Opportunity 77/100 (strong), bankability 77/100. Strong seller-intent signal (65/100, director aged 63). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

8 live charges · 4 lenders · oldest 40.5y

15/100
under pressure

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

  • · Oldest live charge is 40.5 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

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
8 charges (8/8 with lender, 8/8 with type)
90
Directors & officers
10 officers (2 active, 10 linked, 7 with DOB)
84
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
133 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
70
Strong succession / seller-readiness signals.
Risk profile
77
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 £62,499
Net assets shrinking
Down £65,718 YoY
Cash draining
Cash down 44% YoY
Cash YoY
-44%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£91k
↓ 44% YoY
Net Worth
£62k
↓ 51% YoY
Current Assets
£443k
~ YoY
Current Liabilities
—
£0£89k£178k£267k£357k£446kDec 2024Dec 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-12-312024-12-31
Total assets£62.8k£128.6k
Current assets£442.7k£445.6k
Cash£90.9k£163.3k
Debtors£108.9k£122.1k
Net assets£62.5k£128.2k

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
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (47 events)Click to expand
  1. 2026-05-19
    📄
    accounts-with-accounts-type-small
    accounts · AA
  2. 2025-09-25
    📄
    accounts-with-accounts-type-small
    accounts · AA
  3. 2024-09-25
    📄
    accounts-with-accounts-type-small
    accounts · AA
  4. 2023-09-28
    📄
    accounts-with-accounts-type-small
    accounts · AA
  5. 2023-02-02
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  6. 2022-07-05
    📄
    accounts-with-accounts-type-small
    accounts · AA
  7. 2022-03-25
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2021-04-16
    📄
    accounts-with-accounts-type-small
    accounts · AA
  9. 2020-06-08
    📄
    accounts-with-accounts-type-small
    accounts · AA
  10. 2020-03-06
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  11. 2019-06-19
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  12. 2019-04-05
    ➕
    RAYMONDI, Tommaso Maria appointed
    director
  13. 2019-04-05
    ➖
    FERRARI, Claudio resigned
    director
  14. 2019-04-05
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  15. 2019-04-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  16. 2018-06-06
    📄
    accounts-with-accounts-type-audited-abridged
    accounts · AA
  17. 2017-07-11
    📄
    accounts-with-accounts-type-small
    accounts · AA
  18. 2016-06-01
    ➕
    FERRARI, Claudio appointed
    director
  19. 2016-06-01
    ➖
    SILIGARDI, Giovanni resigned
    director
  20. 2014-11-18
    🔓
    Charge satisfied #8
  21. 2014-11-18
    🔓
    Charge satisfied #6
  22. 2014-11-18
    🔓
    Charge satisfied #5
  23. 2011-07-20
    🔓
    Charge satisfied #7
  24. 2011-07-20
    🔓
    Charge satisfied #4
  25. 2011-07-20
    🔓
    Charge satisfied #3
  26. 2007-07-28
    ➕
    WATSON, Nicholas Andrew appointed
    secretary
  27. 2007-07-27
    ➖
    GREENFIELD, Dean Trevor resigned
    secretary
  28. 2005-06-27
    ➖
    SPOONER, Neil resigned
    secretary
  29. 2005-01-01
    ➕
    GREENFIELD, Dean Trevor appointed
    secretary
  30. 2005-01-01
    ➖
    MOSTARDA, Alessandro resigned
    director
  31. 2005-01-01
    ➕
    SILIGARDI, Giovanni appointed
    director
  32. 2004-07-09
    ➕
    MOSTARDA, Alessandro appointed
    director
  33. 2004-07-09
    ➖
    SPOONER, Gillian resigned
    director
  34. 2004-07-09
    ➖
    SPOONER, Neil resigned
    director
  35. 2004-04-13
    🔒
    Charge registered #8
    Lender: Lloyds Tsb Bank PLC
  36. 2001-10-25
    🔒
    Charge registered #7
    Lender: Hsbc Bank PLC
  37. 2000-06-15
    🔒
    Charge registered #6
    Lender: Lloyds Tsb Bank PLC
  38. 2000-03-29
    🔒
    Charge registered #5
    Lender: Lloyds Tsb Bank PLC
  39. 1999-12-01
    ➖
    GREENFIELD, Dean resigned
    director
  40. 1996-01-15
    ➕
    GREENFIELD, Dean appointed
    director
  41. 1994-11-18
    🔓
    Charge satisfied #2
  42. 1994-11-18
    🔓
    Charge satisfied #1
  43. 1994-09-20
    🔒
    Charge registered #4
    Lender: Midland Bank PLC
  44. 1994-08-08
    🔒
    Charge registered #3
    Lender: Midland Bank PLC
  45. 1989-11-24
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  46. 1986-01-06
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  47. 1985-09-06
    🏢
    Company incorporated
    As AQUA WATER SYSTEMS LIMITED

Owner dependency

83/100
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.
  • +Senior director age: Director aged approximately 63 — approaching natural succession window.

Succession & seller-readiness

75/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 63. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondaryStable-but-static management: Company is 41 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 med ·
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.

Group structure

Aqua S.P.A is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Aqua S.P.A
Corporate parent · holds 75-100% shares
ultimate parent
⬇
AQUA WATER SYSTEMS LIMITED
This company · 01945405

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Aqua S.P.A
Corporate entity
75–100%
75–100%75-100% shares · 75-100% voting29/09/2016

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
Incorporated1985-09-06
Jurisdictionengland-wales
Primary SIC20590 — SIC 20590

Registered office

Beauchamp House
402-403 Stourport Road
Kidderminster
DY11 7BG
England

Filing status

Accounts
Next due: 2027-09-30
Last made up to: 2025-12-31
Confirmation statement
Next due: 2026-10-13
Last: 2025-09-29

Officers (2 active · 8 resigned)

WATSON, Nicholas Andrew→
secretary · appointed 2007-07-28
View their other companies + combined net worth →
Active
RAYMONDI, Tommaso Maria→
director · ~63y · appointed 2019-04-05
View their other companies + combined net worth →
Active
GREENFIELD, Dean Trevor→
secretary · appointed 2005-01-01 · resigned 2007-07-27
Resigned
SPOONER, Neil→
secretary · resigned 2005-06-27
Resigned
FERRARI, Claudio→
director · ~70y · appointed 2016-06-01 · resigned 2019-04-05
Resigned
GREENFIELD, Dean→
director · ~61y · appointed 1996-01-15 · resigned 1999-12-01
Resigned
MOSTARDA, Alessandro→
director · ~71y · appointed 2004-07-09 · resigned 2005-01-01
Resigned
SILIGARDI, Giovanni→
director · ~70y · appointed 2005-01-01 · resigned 2016-06-01
Resigned
SPOONER, Gillian→
director · ~78y · resigned 2004-07-09
Resigned
SPOONER, Neil→
director · ~83y · resigned 2004-07-09
Resigned

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

Mortgages & charges

8
Total charges
0
Outstanding
0
Active lenders
Status:Lender:8 of 8 shown
TypeProperties
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
Debenture1 property13/04/200418/11/2014
satisfied
HSBC
Hsbc Bank PLC
Debenture1 property25/10/200120/07/2011
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
Mortgage1 property15/06/200018/11/2014
satisfied
Lloyds Banking Group
Lloyds Tsb Bank PLC
Debenture deed1 property29/03/200018/11/2014
satisfied
Midland Bank
Midland Bank PLC
Legal charge1 property20/09/199420/07/2011
satisfied
Midland Bank
Midland Bank PLC
Fixed and floating charge1 property08/08/199420/07/2011
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Legal charge1 property24/11/198918/11/1994
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Debenture1 property06/01/198618/11/1994

Recent filings (133 total)

accounts-with-accounts-type-small
accounts · AA
2026-05-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-29
accounts-with-accounts-type-small
accounts · AA
2025-09-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-01
accounts-with-accounts-type-small
accounts · AA
2024-09-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-29
accounts-with-accounts-type-small
accounts · AA
2023-09-28
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-02-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-05
accounts-with-accounts-type-small
accounts · AA
2022-07-05
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-03-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-08
accounts-with-accounts-type-small
accounts · AA
2021-04-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-11-26
accounts-with-accounts-type-small
accounts · AA
2020-06-08