AIR-REF LIMITED

💤Zombieactive
03511562 · ltd · incorporated 1998-02-17
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 Mar 2025
Net worth
£146.2k
book net assets
Opportunity
75/100
Strong
🔔
Follow this company (free)
Email alerts on filings, charges, director changes, gazette notices. No account needed.

Unsubscribe any time from any email. GDPR-respectful.

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch
What this business does
Primary activity: SIC 35300
Sector: Electricity, gas & energy
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 75/100 (strong), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -56% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

1 live charge · oldest 19.7y

45/100
under pressure

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

  • · Oldest live charge is 19.7 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (76/100)

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
8 officers (2 active, 8 linked, 3 with DOB)
78
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
86 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
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
85
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 £146,228
Cash draining
Cash down 56% YoY
Cash YoY
-56%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£10k
↓ 56% YoY
Net Worth
£146k
~ YoY
Current Assets
£328k
↓ 12% YoY
Current Liabilities
—
£0£75k£149k£224k£299k£373kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£148.4k£152.9k
Current assets£328.0k£373.4k
Cash£10.2k£23.3k
Debtors£304.1k£320.9k
Net assets£146.2k£145.3k

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
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (31 events)Click to expand
  1. 2025-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-07-24
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2023-12-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-11-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-03-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2019-12-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2018-12-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2017-12-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2016-12-22
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  12. 2016-02-18
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  13. 2015-12-23
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2015-02-25
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2014-12-12
    ➖
    PARMAR, Kiran Naranbhai resigned
    director
  16. 2014-12-12
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  17. 2012-11-07
    ➕
    PARMAR, Jitan appointed
    director
  18. 2006-08-18
    🔒
    Charge registered #1
    Lender: Rbs Invoice Finance Limited
  19. 2004-01-23
    ➕
    PARMAR, Nita appointed
    secretary
  20. 2004-01-23
    ➖
    PARMAR, Kiran Naranbhai resigned
    secretary
  21. 2004-01-23
    ➖
    PARMAR, Nita resigned
    director
  22. 2002-04-15
    ➕
    PARMAR, Kiran Naranbhai appointed
    director
  23. 1999-03-15
    ➖
    PARMAR, Kalavati resigned
    secretary
  24. 1999-03-15
    ➕
    PARMAR, Kiran Naranbhai appointed
    secretary
  25. 1998-03-19
    ➕
    PARMAR, Kalavati appointed
    secretary
  26. 1998-03-19
    ➖
    SAME-DAY COMPANY SERVICES LIMITED resigned
    corporate-nominee-secretary
  27. 1998-03-19
    ➕
    PARMAR, Nita appointed
    director
  28. 1998-03-19
    ➖
    WILDMAN & BATTELL LIMITED resigned
    corporate-nominee-director
  29. 1998-02-17
    🏢
    Company incorporated
    As AIR-REF LIMITED
  30. 1998-02-17
    ➕
    SAME-DAY COMPANY SERVICES LIMITED appointed
    corporate-nominee-secretary
  31. 1998-02-17
    ➕
    WILDMAN & BATTELL LIMITED appointed
    corporate-nominee-director

Owner dependency

75/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

68/100
Strong succession signal

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

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 13 years.
  • secondaryStable-but-static management: Company is 28 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Kiranbhai Naranbhai Parmar
Individual · British · DOB 10/1961 · age 65
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
Mrs Nita Parmar
Individual · British · DOB 01/1966 · age 60
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

Similar companies

Active · Energy & utilities · GU postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
2LEE ENERGY LTD→
16988573 · est 2026 · no financials extracted
———————
3 COUNTIES WASTE REMOVAL LTD→
13691457 · est 2021 · no financials extracted
————4y——
A & K'S TRASH TO TREASURES LTD→
16941563 · est 2026 · no financials extracted
———————
ADJACENT POWER LIMITED→
08012100 · est 2012 · no financials extracted
————14y——
AIR CON ENVIRONMENTAL LIMITED→
07072281 · est 2009 · no financials extracted
————16y——
AIRCARESERVICESELECTRICAL LIMITED→
10713883 · est 2017 · no financials extracted
————9y——
AIRO SUPPLY LIMITED→
16825304 · est 2025 · no financials extracted
———————
AIRSOURCE CLIMATE LTD→
12709691 · est 2020 · no financials extracted
————5y——
APOLLO COMMISSIONING SERVICES LTD→
11644810 · est 2018 · no financials extracted
————7y——
AQUAFINE (UK) LTD→
07906624 · est 2012 · no financials extracted
————14y——
AQUAJEN ENVIRONMENTAL SERVICES LTD→
13674967 · est 2021 · no financials extracted
————4y——
AQUATHIN UK LTD→
12235310 · est 2019 · no financials extracted
————6y——
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
Incorporated1998-02-17
Jurisdictionengland-wales
Primary SIC35300 — SIC 35300

Registered office

Little Yarrows
Guildford Road, Mayford
Woking
Surrey
GU22 0SD

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-08-07
Last: 2025-07-24

Officers (2 active · 6 resigned)

PARMAR, Nita→
secretary · appointed 2004-01-23
View their other companies + combined net worth →
Active
PARMAR, Jitan→
director · ~40y · appointed 2012-11-07
View their other companies + combined net worth →
Active
PARMAR, Kalavati→
secretary · appointed 1998-03-19 · resigned 1999-03-15
Resigned
PARMAR, Kiran Naranbhai→
secretary · appointed 1999-03-15 · resigned 2004-01-23
Resigned
SAME-DAY COMPANY SERVICES LIMITED→
corporate-nominee-secretary · appointed 1998-02-17 · resigned 1998-03-19
Resigned
PARMAR, Kiran Naranbhai→
director · ~65y · appointed 2002-04-15 · resigned 2014-12-12
Resigned
PARMAR, Nita→
director · ~60y · appointed 1998-03-19 · resigned 2004-01-23
Resigned
WILDMAN & BATTELL LIMITED→
corporate-nominee-director · appointed 1998-02-17 · resigned 1998-03-19
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
NatWest Group
Rbs Invoice Finance Limited
Fixed and floating charge1 property18/08/2006—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (86 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-07-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-24
confirmation-statement-with-updates
confirmation-statement · CS01
2024-07-24
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-07-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-19
confirmation-statement-with-updates
confirmation-statement · CS01
2023-07-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-07-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-07-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-03-17
confirmation-statement-with-updates
confirmation-statement · CS01
2020-07-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-12-24
confirmation-statement-with-updates
confirmation-statement · CS01
2019-07-24