THE WATERWAYS TRUST

🌳Matureactive
03728156 · private-limited-guarant-nsc-limited-exemption · incorporated 1999-03-03
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
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
74/100
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: Museum activities
Sector: Arts, entertainment & recreation
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 74/100 (strong), bankability 67/100. 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 (58/100).

🏦

Refinance opportunity

4 live charges · 4 lenders · oldest 25.5y

35/100
too messy

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

  • · Oldest live charge is 25.5 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 40/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (60/100)

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
No iXBRL financials extracted
0
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
41 officers (2 active, 41 linked, 37 with DOB)
88
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
155 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
50
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (103 events)Click to expand
  1. 2025-12-04
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  2. 2025-01-21
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  3. 2024-02-19
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  4. 2023-01-06
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  5. 2022-08-03
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  6. 2022-07-04
    ➖
    DUNWOODIE, Katherine Michelle resigned
    director
  7. 2021-11-12
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  8. 2021-11-12
    🔓
    Charge satisfied #1
  9. 2021-10-12
    📄
    change-person-director-company-with-change-date
    officers · CH01
  10. 2021-10-12
    📄
    change-person-director-company-with-change-date
    officers · CH01
  11. 2021-08-03
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  12. 2021-07-31
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  13. 2021-02-15
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  14. 2020-09-30
    ➖
    SALAMI, Yetunde resigned
    secretary
  15. 2020-09-30
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  16. 2019-12-27
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  17. 2019-04-08
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  18. 2019-04-03
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  19. 2019-04-02
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  20. 2019-03-21
    ➕
    CASEY, Brian appointed
    director
  21. 2019-03-21
    ➕
    DUNWOODIE, Katherine Michelle appointed
    director
  22. 2019-03-19
    ➖
    PULLINGER, Steven resigned
    director
  23. 2019-01-24
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  24. 2017-03-23
    ➕
    DEARDS, Thomas James appointed
    director
  25. 2016-10-11
    ➖
    LEWIS, Jacqueline Ann resigned
    director
  26. 2016-09-30
    ➖
    HANBURY, Roger Gordon resigned
    director
  27. 2015-12-03
    ➖
    MORAN, Vincent Patrick resigned
    director
  28. 2014-10-01
    ➖
    JUNIPER, Peter Charles Weller resigned
    secretary
  29. 2014-10-01
    ➕
    SALAMI, Yetunde appointed
    secretary
  30. 2013-05-31
    ➖
    EVANS, Robin Edward Rowlinson resigned
    director
  31. 2013-03-31
    ➖
    EAGLESHAM, David James resigned
    director
  32. 2013-03-31
    ➖
    HUME, John Robert, Professor resigned
    director
  33. 2013-03-31
    ➖
    MILLS, Harold Hernshaw resigned
    director
  34. 2013-01-22
    ➖
    BIGGAR, John Morrison Hay resigned
    director
  35. 2012-07-26
    ➖
    COBURN, Christopher John Mansell resigned
    director
  36. 2012-07-26
    ➖
    COMBES, Richard George resigned
    director
  37. 2012-07-26
    ➖
    DONE, Frances Winifred resigned
    director
  38. 2012-07-26
    ➕
    EVANS, Robin Edward Rowlinson appointed
    director
  39. 2012-07-26
    ➕
    HANBURY, Roger Gordon appointed
    director
  40. 2012-07-26
    ➖
    HARVEY, Brenda Ann resigned
    director
  41. 2012-07-26
    ➕
    LEWIS, Jacqueline Ann appointed
    director
  42. 2012-07-26
    ➕
    MORAN, Vincent Patrick appointed
    director
  43. 2012-07-26
    ➖
    NEWMAN, Laurence Richard Simon resigned
    director
  44. 2012-07-26
    ➖
    ORGAN, Diana Mary resigned
    director
  45. 2012-07-26
    ➕
    PULLINGER, Steven appointed
    director
  46. 2012-07-26
    ➖
    VALDER, Ian David John resigned
    director
  47. 2012-05-24
    ➖
    DUNLOP, Stephen resigned
    director
  48. 2012-01-26
    ➕
    BIGGAR, John Morrison Hay appointed
    director
  49. 2012-01-26
    ➕
    EAGLESHAM, David James appointed
    director
  50. 2012-01-26
    ➕
    MILLS, Harold Hernshaw appointed
    director
Showing most recent 50 of 103 events

Owner dependency

58/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.

Succession & seller-readiness

46/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondaryStable-but-static management: Company is 27 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

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

Group structure

Canal & River Trust is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Canal & River Trust
Corporate parent · holds 75-100% shares
ultimate parent
⬇
THE WATERWAYS TRUST
This company · 03728156

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
Canal & River Trust
Corporate entity
75–100%
—75-100% shares06/04/2016

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 · Leisure & entertainment · CH postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
4X4 FUNDAY LIMITED→
02697036 · est 1992 · no financials extracted
————34y——
A PHEW SERVICES LTD→
13277253 · est 2021 · no financials extracted
————5y——
ACT EVENTS LTD→
17015859 · est 2026 · no financials extracted
———————
AERIAL BLISS STUDIO LIMITED→
16380560 · est 2025 · no financials extracted
————1y——
AEROPLANE COLLECTION LIMITED(THE)→
01150097 · est 1973 · no financials extracted
————52y——
AF WARWICK LIMITED→
14495878 · est 2022 · no financials extracted
————3y——
AFRICA & BAREFOOT EXPERIENCES LTD→
15047975 · est 2023 · no financials extracted
————2y——
AIM FOR THE SKY LTD→
08120338 · est 2012 · no financials extracted
————13y——
AIRBORN FLYING COMMUNITY INTEREST COMPANY→
08488983 · est 2013 · no financials extracted
————13y——
AJM MEDIA LIMITED→
09074494 · est 2014 · no financials extracted
————11y——
AJP180 LIMITED→
16214523 · est 2025 · no financials extracted
————1y——
ALBANY (ROCK FERRY) BOWLING CLUB LIMITED→
00173738 · est 1921 · no financials extracted
————105y——
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
Typeprivate-limited-guarant-nsc-limited-exemption
Incorporated1999-03-03
Jurisdictionengland-wales
Primary SIC91020 — Museum activities

Registered office

National Waterways Museum Ellesmere Port
South Pier Road
Ellesmere Port
Cheshire
CH65 4FW
England

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-02-27
Last: 2026-02-13

Officers (2 active · 39 resigned)

CASEY, Brian→
director · ~52y · appointed 2019-03-21
View their other companies + combined net worth →
Active
DEARDS, Thomas James→
director · ~50y · appointed 2017-03-23
View their other companies + combined net worth →
Active
HOWELLS, Cornel John→
secretary · appointed 1999-03-03 · resigned 2004-11-18
Resigned
JUNIPER, Peter Charles Weller→
secretary · appointed 2009-04-01 · resigned 2014-10-01
Resigned
LUTMAN, Alan Frederick→
secretary · appointed 2004-11-18 · resigned 2009-03-31
Resigned
SALAMI, Yetunde→
secretary · appointed 2014-10-01 · resigned 2020-09-30
Resigned
BAINES, John Christopher, Professor→
director · ~79y · appointed 2001-06-05 · resigned 2007-05-20
Resigned
BIGGAR, John Morrison Hay→
director · ~75y · appointed 2012-01-26 · resigned 2013-01-22
Resigned
CAREY, Helen Margaret→
director · ~85y · appointed 2001-04-03 · resigned 2010-11-18
Resigned
COBURN, Christopher John Mansell→
director · ~86y · appointed 2004-07-07 · resigned 2012-07-26
Resigned
COMBES, Richard George→
director · ~81y · appointed 2003-07-29 · resigned 2012-07-26
Resigned
COSSONS, Neil, Sir→
director · ~87y · appointed 1999-03-03 · resigned 2003-12-16
Resigned
DONE, Frances Winifred→
director · ~76y · appointed 2003-07-29 · resigned 2012-07-26
Resigned
DUNLOP, Stephen→
director · ~65y · appointed 2009-11-26 · resigned 2012-05-24
Resigned
DUNWOODIE, Katherine Michelle→
director · ~49y · appointed 2019-03-21 · resigned 2022-07-04
Resigned
EAGLESHAM, David James→
director · ~80y · appointed 2012-01-26 · resigned 2013-03-31
Resigned
EVANS, Robin Edward Rowlinson→
director · ~72y · appointed 2012-07-26 · resigned 2013-05-31
Resigned
FLETCHER, David John, Dr→
director · ~84y · appointed 1999-03-03 · resigned 2008-11-25
Resigned
FLETCHER, John Charles→
director · ~82y · appointed 2000-08-01 · resigned 2006-11-23
Resigned
HANBURY, Roger Gordon→
director · ~74y · appointed 2012-07-26 · resigned 2016-09-30
Resigned

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

Mortgages & charges

4
Total charges
3
Outstanding
3
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
The Trustees of the National Heritage Memorial Fund
Legal charge1 property08/09/2006—
outstanding
Trevor Ford
Deed of covenant1 property15/04/2005—
outstanding
Desmond Fforde
Deed of covenant1 property15/04/2005—
satisfied
The Millennium Commission
Charge of securities2 properties30/11/200012/11/2021
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (155 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-27
accounts-with-accounts-type-dormant
accounts · AA
2025-12-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-25
accounts-with-accounts-type-dormant
accounts · AA
2025-01-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-04-17
accounts-with-accounts-type-dormant
accounts · AA
2024-02-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-13
accounts-with-accounts-type-dormant
accounts · AA
2023-01-06
termination-director-company-with-name-termination-date
officers · TM01
2022-08-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-23
mortgage-satisfy-charge-full
mortgage · MR04
2021-11-12
change-person-director-company-with-change-date
officers · CH01
2021-10-12
change-person-director-company-with-change-date
officers · CH01
2021-10-12
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-08-03
accounts-with-accounts-type-dormant
accounts · AA
2021-07-31