AQUACOVER LIMITED
💤Zombieactive
04611203 · ltd · incorporated 2002-12-06
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 Mar 2025
Net worth
£416.2k
book net assets
Opportunity
82/100
Exceptional
What this business does
Primary activity: SIC 33200
Sector: Manufacturing
Investor take
PursueActive trading company with a 63-year-old founder — textbook succession opportunity.
Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 63). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -81% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
2 live charges · oldest 21.0y
45/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 21.0 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (78/100)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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
4 officers (1 active, 4 linked, 1 with DOB)
75
Ownership & PSC
3 active PSC(s) of 3 total, 3 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
65 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
PassWatchWorth a lookStrongExceptional
Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £416,215
Net assets shrinking
Down £18,723 YoY
Cash draining
Cash down 81% YoY
Cash YoY
-81%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£20k
↓ 81% YoY
Net Worth
£416k
↓ 4.3% YoY
Current Assets
£315k
↑ 13% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £423.7k | £443.7k |
| Current assets | £315.1k | £277.9k |
| Cash | £19.6k | £103.1k |
| Debtors | £274.3k | £153.7k |
| Net assets | £416.2k | £434.9k |
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
0
filings
Counts from Companies House filing history.
Corporate timeline (25 events)Click to expand
- 2025-12-12📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-04-29📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2024-04-29📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2024-04-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-12-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-12-19📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2021-12-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-12-21📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2019-11-25📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-12-19📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-12-22📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2016-12-22📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2016-01-19📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2015-12-17📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2015-11-01➖MARSHALL, Dulcie resignedsecretary
- 2005-10-13🔒Charge registered #2Lender: Barclays Bank PLC
- 2005-07-15🔒Charge registered #1Lender: Barclays Bank PLC
- 2002-12-09➕MARSHALL, Shani Kathryn appointeddirector
- 2002-12-09➕MARSHALL, Dulcie appointedsecretary
- 2002-12-09➖HCS SECRETARIAL LIMITED resignedcorporate-nominee-secretary
- 2002-12-09➖HANOVER DIRECTORS LIMITED resignedcorporate-nominee-director
- 2002-12-06🏢Company incorporatedAs AQUACOVER LIMITED
- 2002-12-06➕HCS SECRETARIAL LIMITED appointedcorporate-nominee-secretary
- 2002-12-06➕HANOVER DIRECTORS LIMITED appointedcorporate-nominee-director
Owner dependency
93/100
Critical — business is the founderThe 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.
- +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
- +Senior director age: Director aged approximately 63 — approaching natural succession window.
Succession & seller-readiness
95/100
Likely off-market candidateStrong 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.
- primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 24 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
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
3 active beneficial owners · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Miss Shani Kathryn Marshall Individual · British · DOB 08/1963 · age 63 | 50–75% | 75–100% | board control75-100% shares · 75-100% voting · board control | 30/06/2016 |
Mr Mandy Marshall Individual · British · DOB 08/1965 · age 61 | 25–50% | — | 25-50% shares | 29/04/2024 |
Mr Martin Marshall Individual · British · DOB 09/1960 · age 66 | 25–50% | — | 25-50% shares | 29/04/2024 |
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 · Manufacturing · DE postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| AK UPHOLSTERY LTD→ 15264586 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ALLIED BRAND PACKAGING LIMITED→ 10905982 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| AQUA NARROWBOATS (MFG) LIMITED→ 15281242 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| ARENAXESS LTD→ 12400190 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
| ATLAS CLEANING MACHINES LTD→ 07889480 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
| AURORA FABRICATIONS LTD→ 15795080 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| AUTOCHAIR LIMITED→ 02533881 · est 1990 · no financials extracted | — | — | — | — | 35y | — | — |
| AZ STEEL LIMITED→ 15787540 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| BAKEWELL PRECISION LIMITED→ 00614258 · est 1958 · no financials extracted | — | — | — | — | 67y | — | — |
| BALDWIN & WISER LIMITED→ 01192019 · est 1974 · no financials extracted | — | — | — | — | 51y | — | — |
| BALL EYE QUARRY LIMITED→ 15165860 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| BANTON COMPANY LIMITED→ 16701495 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
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
Incorporated2002-12-06
Jurisdictionengland-wales
Primary SIC33200 — SIC 33200
Registered office
55 High Road
South Wingfield
Alfreton
Derbyshire
DE55 7LX
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-09-06
Last: 2025-08-23
Officers (1 active · 3 resigned)
MARSHALL, Shani Kathryn→
Activedirector · ~63y · appointed 2002-12-09
View their other companies + combined net worth →
MARSHALL, Dulcie→
Resignedsecretary · appointed 2002-12-09 · resigned 2015-11-01
HCS SECRETARIAL LIMITED→
Resignedcorporate-nominee-secretary · appointed 2002-12-06 · resigned 2002-12-09
HANOVER DIRECTORS LIMITED→
Resignedcorporate-nominee-director · appointed 2002-12-06 · resigned 2002-12-09
Click a director name to see their full track record across all companies.
Mortgages & charges
2
Total charges
2
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Barclays Barclays Bank PLC | Deed of charge over credit balances | 1 property | 13/10/2005 | — | |
| outstanding | Barclays Barclays Bank PLC | Deed of charge over credit balances | 1 property | 15/07/2005 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (65 total)
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-18
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2024-04-29
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2024-04-29
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-04-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-22
confirmation-statement-with-updates
confirmation-statement · CS01
2023-08-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-05
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-12-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-12-31
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-02-05
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-12-21