CELTIC RECYCLING LTD.

📈Growthactive

02765374 · ltd · incorporated 1992-11-17

Investment thesis

Growth-phase business — story-led; valuation sensitive to momentum.

Why interesting: Trading is scaling; acquirers paying for trajectory get disproportionate leverage.

Why risky: Price often leads fundamentals; dependency on founder often high.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Oct 2024

Net worth

—

book net assets

Opportunity

76/100

Strong

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What this business does

Primary activity: SIC 38210

Sector: Water supply & waste

ALSO REGISTERED FOR

38220SIC 38220
38320SIC 38320

Investor take

Pursue

Leverage-led grower with a 72-year-old founder — textbook succession opportunity.

Opportunity 76/100 (strong), bankability 57/100. Strong seller-intent signal (63/100, director aged 72). 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 (57/100).

🏦

Refinance opportunity

11 live charges · 3 lenders · oldest 33.4y

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 33.4 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 50/100 (high).

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 3 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

11 charges (11/11 with lender, 11/11 with type)

Directors & officers

10 officers (7 active, 10 linked, 6 with DOB)

Ownership & PSC

1 active PSC(s) of 3 total, 3 with control declared

Director network

5 connected companies via shared directors

Filing history

124 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →

Opportunity Score

76/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102

Profitable

Profit before tax £2,856,011

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2024-10-31	2023-10-31
Profit before tax	£2.86M	£2.05M
Average employees	9700	9600

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

🔒Filing-note intelligence

4 signals 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

filings

Last 90 days

filings

Last 180 days

filings

• 1 confirmation-statement
• 1 officers

Counts from Companies House filing history.

Corporate timeline (45 events)Click to expand

2026-01-08
📄
change-person-director-company-with-change-date
officers · CH01
2025-07-31
📄
accounts-with-accounts-type-full
accounts · AA
2024-07-31
📄
accounts-with-accounts-type-full
accounts · AA
2024-01-26
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2024-01-16
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-11-01
➕
BISHOP, Oliver Jordan appointed
director
2023-10-25
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-10-25
🔓
Charge satisfied #9
2023-07-31
📄
accounts-with-accounts-type-full
accounts · AA
2023-02-03
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-02-03
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-02-03
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-11-24
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-11-21
➕
GLADWIN, Dean appointed
director
2022-06-16
📄
accounts-with-accounts-type-full
accounts · AA
2022-01-17
📄
second-filing-of-confirmation-statement-with-made-up-date
confirmation-statement · RP04CS01
2021-07-28
📄
accounts-with-accounts-type-full
accounts · AA
2020-06-02
📄
accounts-with-accounts-type-full
accounts · AA
2020-04-08
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-03-31
🔒
Charge registered #11
Lender: Barclays Bank PLC
2019-06-28
📄
accounts-with-accounts-type-full
accounts · AA
2018-04-30
🔓
Charge satisfied #7
2018-04-30
🔓
Charge satisfied #6
2018-03-27
🔒
Charge registered #10
Lender: Barclays Bank PLC
2014-04-04
🔒
Charge registered #9
Lender: Aldermore Bank PLC
2013-08-23
🔒
Charge registered #8
Lender: Barclays Bank PLC
2011-05-20
🔒
Charge registered #7
Lender: Finance Wales Investments (6) Limited
2011-05-20
🔒
Charge registered #6
Lender: Finance Wales Investments (6) Limited
2011-04-18
➕
OWEN, William David Paul appointed
director
2011-03-30
🔒
Charge registered #5
Lender: Barclays Bank PLC
2006-11-01
➕
PITMAN, Lesley appointed
director
2005-01-24
🔒
Charge registered #4
Lender: Barclays Bank PLC
1993-11-29
🔒
Charge registered #3
Lender: Barclays Bank PLC
1993-11-29
🔒
Charge registered #2
Lender: Barclays Bank PLC
1993-02-01
🔒
Charge registered #1
Lender: Barclays Bank PLC
1992-11-17
🏢
Company incorporated
As CELTIC RECYCLING LTD.
1992-11-17
➕
BISHOP, Stephen appointed
secretary
1992-11-17
➕
BISHOP, Stephen appointed
director
1992-11-17
➕
JAMES, Keith Michael appointed
director
1992-11-17
➕
COMBINED SECRETARIAL SERVICES LIMITED appointed
corporate-nominee-secretary
1992-11-17
➖
COMBINED SECRETARIAL SERVICES LIMITED resigned
corporate-nominee-secretary
1992-11-17
➕
COMBINED NOMINEES LIMITED appointed
corporate-nominee-director
1992-11-17
➖
COMBINED NOMINEES LIMITED resigned
corporate-nominee-director
1992-11-17
➕
COMBINED SECRETARIAL SERVICES LIMITED appointed
corporate-nominee-director
1992-11-17
➖
COMBINED SECRETARIAL SERVICES LIMITED resigned
corporate-nominee-director

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

-6 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 34 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 72 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

80/100

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 72 years old. Natural succession window is now.
primary20+ year tenure: Director in role 34 years. Very long tenure is a classic succession signal.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med · 1 low

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.

8 live charges

low

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

Group structure

Celtic Utilities Group Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Celtic Utilities Group Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

CELTIC RECYCLING LTD.

This company · 02765374

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%

Name	Shares	Voting rights	Nature of control	Notified
Celtic Utilities Group Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	01/11/2021

2 historic (ceased) PSCs

Mr Stephen Bishopceased 01/11/2021· 25-50% shares
Mr Keith Michael Jamesceased 01/11/2021· 25-50% shares

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 →

Similar companies

Active · Energy & utilities · CF postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
BRYDON ELECTRICAL LIMITED→ 11170354 · est 2018 · no financials extracted	—	—	—	—	8y	—	—
BRYN GILWERN ENERGY PARK LIMITED→ 13052399 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
BRYN POWER LIMITED→ 07943843 · est 2012 · no financials extracted	—	—	—	—	14y	—	—
BRYNGWYN ENERGY PARK LIMITED→ 13688038 · est 2021 · no financials extracted	—	—	—	—	4y	—	—
BUTE ENERGY LIMITED→ 12474011 · est 2020 · no financials extracted	—	—	—	—	6y	—	—
CAMBRIAN UTILITIES LIMITED→ 10082803 · est 2016 · no financials extracted	—	—	—	—	10y	—	—
CARDIFF COOLING LIMITED→ 15535084 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
CARDIFF WASTE LIMITED→ 02664172 · est 1991 · no financials extracted	—	—	—	—	34y	—	—
CARICOOL LIMITED→ 12876411 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
CASTELL CLYD LTD→ 16177624 · est 2025 · no financials extracted	—	—	—	—	1y	—	—
CCR ENERGY LIMITED→ 13951868 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
CENIN APV LTD→ 14115660 · est 2022 · no financials extracted	—	—	—	—	3y	—	—

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

Incorporated1992-11-17

Jurisdictionengland-wales

Primary SIC38210 — SIC 38210

Registered office

Unit 37

Village Farm Industrial Estate

Pyle

Bridgend

CF33 6BZ

Filing status

Accounts

Next due: 2026-07-31

Last made up to: 2024-10-31

Confirmation statement

Next due: 2027-02-14

Last: 2026-01-31