FORMOST AIR-CONDITIONING LIMITED

🌳Matureactive
03455847 · ltd · incorporated 1997-10-27
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 28.4y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Dec 2025
Net worth
£980.9k
book net assets
Opportunity
79/100
Strong
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What this business does
Primary activity: SIC 35300
Sector: Electricity, gas & energy
Investor take
Pursue
Active trading company with a 66-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 75/100. Strong seller-intent signal (93/100, director aged 66). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

3 live charges · 2 lenders · oldest 28.4y

50/100
clean up first

Refinance viable after a tidy-up — address the highlighted items first.

  • · Oldest live charge is 28.4 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
10 officers (3 active, 10 linked, 7 with DOB)
84
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
97 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
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 · FRS 102
Positive net assets
Net assets £980,879
Cash YoY
+69%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£932k
↑ 69% YoY
Net Worth
£981k
↑ 7.3% YoY
Current Assets
£1.6m
↓ 24% YoY
Current Liabilities
—
£0£428k£857k£1.3m£1.7m£2.1mDec 2024Dec 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-12-312024-12-31
Total assets£1.00M£950.8k
Current assets£1.62M£2.14M
Cash£931.7k£552.0k
Debtors£682.7k£1.58M
Net assets£980.9k£914.4k

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
0
filings
Last 90 days
0
filings
Last 180 days
2
filings
  • • 1 accounts
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (37 events)Click to expand
  1. 2026-03-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-02-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-01-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-05-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-03-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-02-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2020-06-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2019-06-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2018-06-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2017-11-09
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  11. 2017-09-21
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  12. 2017-09-11
    ➖
    BROOKS, Michael Dennis resigned
    director
  13. 2017-08-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2016-06-08
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2015-11-19
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 2006-05-16
    🔓
    Charge satisfied #2
  17. 2006-05-16
    🔓
    Charge satisfied #1
  18. 2006-03-23
    🔒
    Charge registered #3
    Lender: Lloyds Tsb Commercial Finance Limited
  19. 2006-03-22
    ➖
    BOWMAR, Alan John resigned
    director
  20. 2006-03-22
    ➖
    DUNN, John Newton resigned
    director
  21. 2006-03-22
    ➖
    SMITH, Anthony resigned
    director
  22. 2005-05-12
    ➕
    RIDDELL, Ian, Mr. appointed
    secretary
  23. 2005-05-12
    ➖
    BOWMAR, Alan John resigned
    secretary
  24. 1999-04-07
    🔒
    Charge registered #2
    Lender: Midland Bank PLC
  25. 1998-02-19
    🔒
    Charge registered #1
    Lender: Midland Bank PLC
  26. 1998-02-09
    ➕
    MURPHY, Simon John, Mr. appointed
    director
  27. 1998-02-09
    ➕
    RIDDELL, Ian, Mr. appointed
    director
  28. 1998-02-09
    ➕
    BOWMAR, Alan John appointed
    secretary
  29. 1998-02-09
    ➖
    STONEMAN, Susan Elizabeth resigned
    nominee-secretary
  30. 1998-02-09
    ➕
    BOWMAR, Alan John appointed
    director
  31. 1998-02-09
    ➕
    BROOKS, Michael Dennis appointed
    director
  32. 1998-02-09
    ➕
    DUNN, John Newton appointed
    director
  33. 1998-02-09
    ➖
    LEWINGTON, Keith Edward resigned
    nominee-director
  34. 1998-02-09
    ➕
    SMITH, Anthony appointed
    director
  35. 1997-10-27
    🏢
    Company incorporated
    As FORMOST AIR-CONDITIONING LIMITED
  36. 1997-10-27
    ➕
    STONEMAN, Susan Elizabeth appointed
    nominee-secretary
  37. 1997-10-27
    ➕
    LEWINGTON, Keith Edward appointed
    nominee-director

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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 28 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 66 — succession pressure is live.

Succession & seller-readiness

86/100
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 66. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 28 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 29 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

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.

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Simon John Murphy
Individual · British · DOB 03/1960 · age 66
25–50%
25–50%25-50% shares · 25-50% voting · firm interest06/04/2016
Mr. Ian Riddell
Individual · British · DOB 12/1960 · age 66
25–50%
25–50%25-50% shares · 25-50% voting · firm interest06/04/2016
1 historic (ceased) PSC
  • Mr Mike Denis Brooksceased 11/09/2017· 25-50% shares · 25-50% voting · firm interest

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

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
Incorporated1997-10-27
Jurisdictionengland-wales
Primary SIC35300 — SIC 35300

Registered office

Unit 9 Wilford Lane Industrial
Estate, Ruddington
Nottingham
Nottinghamshire
NG11 7EP

Filing status

Accounts
Next due: 2027-09-30
Last made up to: 2025-12-31
Confirmation statement
Next due: 2027-02-24
Last: 2026-02-10

Officers (3 active · 7 resigned)

RIDDELL, Ian, Mr.→
secretary · appointed 2005-05-12
View their other companies + combined net worth →
Active
MURPHY, Simon John, Mr.→
director · ~66y · appointed 1998-02-09
View their other companies + combined net worth →
Active
RIDDELL, Ian, Mr.→
director · ~66y · appointed 1998-02-09
View their other companies + combined net worth →
Active
BOWMAR, Alan John→
secretary · appointed 1998-02-09 · resigned 2005-05-12
Resigned
STONEMAN, Susan Elizabeth→
nominee-secretary · appointed 1997-10-27 · resigned 1998-02-09
Resigned
BOWMAR, Alan John→
director · ~79y · appointed 1998-02-09 · resigned 2006-03-22
Resigned
BROOKS, Michael Dennis→
director · ~61y · appointed 1998-02-09 · resigned 2017-09-11
Resigned
DUNN, John Newton→
director · ~89y · appointed 1998-02-09 · resigned 2006-03-22
Resigned
LEWINGTON, Keith Edward→
nominee-director · ~75y · appointed 1997-10-27 · resigned 1998-02-09
Resigned
SMITH, Anthony→
director · ~94y · appointed 1998-02-09 · resigned 2006-03-22
Resigned

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

Mortgages & charges

3
Total charges
1
Outstanding
1
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
outstanding
Lloyds Banking Group
Lloyds Tsb Commercial Finance Limited
All assets debenture1 property23/03/2006—
satisfied
Midland Bank
Midland Bank PLC
Legal mortgage1 property07/04/199916/05/2006
satisfied
Midland Bank
Midland Bank PLC
Debenture1 property19/02/199816/05/2006
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (97 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-31
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-03-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-03-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-04-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-02-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-06-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-02-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-11-01