AQUA ROD (SOUTH WEST) LIMITED

🌳Matureactive
04646281 · ltd · incorporated 2003-01-23
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.
Why now
Window closing · high confidence
Getting harder to buy — profile has hardened into "well run hard buy" recently.
  • · Investment thesis: unclassified → well_run_hard_buy
  • · Hygiene score: 70 → 90
  • · Opportunity score: 72 → 80
  • · Bankability: 65 → 75
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 11.3y old — refinance window within 12 months
What changed my view
Last 30 days

Picture improved over the last 30 days — 3 positive signals vs 0 negative.

  • ·Investment thesis: unclassified → well_run_hard_buy
  • ↑Opportunity score: 72 → 80
  • ↑Hygiene score: 70 → 90
  • ↑Bankability: 65 → 75
  • ·Distress / opportunity: exceptional → avoid
Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£1.99M
book net assets
Opportunity
80/100
Exceptional
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What this business does
Primary activity: SIC 39000
Sector: Water supply & waste
Investor take
Pursue
Strong opportunity: active trading company with exceptional profile and bankable structure.

Opportunity 80/100 (exceptional), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 11.3y

70/100
ready

Refinance conversation should be productive — structure clean and timing right.

  • · Oldest live charge is 11.3 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 15/100 — clean.

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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
7 officers (4 active, 7 linked, 4 with DOB)
81
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
3 connected companies via shared directors
54
Filing history
70 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
80/100Exceptional
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
85
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 · accounting standard not declared
Positive net assets
Net assets £1,988,002
Cash YoY
+67%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£276k
↑ 67% YoY
Net Worth
£2.0m
↑ 12% YoY
Current Assets
—
Current Liabilities
—
£0£398k£795k£1.2m£1.6m£2.0mMar 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
Cash£275.8k£164.8k
Net assets£1.99M£1.77M

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

🔒Filing-note intelligence

2 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
0
filings
Last 90 days
2
filings
  • • 1 address
  • • 1 confirmation-statement
Last 180 days
2
filings
  • • 1 address
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
  1. 2026-05-12
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  2. 2025-12-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2025-09-09
    📄
    change-person-director-company-with-change-date
    officers · CH01
  4. 2025-09-08
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  5. 2025-09-08
    📄
    change-person-director-company-with-change-date
    officers · CH01
  6. 2025-09-08
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2024-12-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2023-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2022-12-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-03-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2019-12-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2019-10-31
    📄
    change-person-director-company-with-change-date
    officers · CH01
  14. 2019-10-31
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  15. 2019-10-31
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  16. 2019-10-31
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  17. 2019-01-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2018-09-11
    🔓
    Charge satisfied #1
  19. 2017-10-17
    🔓
    Charge satisfied #2
  20. 2016-11-03
    🔒
    Charge registered #4
    Lender: Svenska Handelsbanken Ab (Publ)
  21. 2016-11-03
    🔒
    Charge registered #3
    Lender: Svenska Handelsbanken Ab (Publ)
  22. 2015-04-15
    🔒
    Charge registered #2
    Lender: Barclays Bank PLC
  23. 2015-04-08
    🔒
    Charge registered #1
    Lender: Barclays Bank PLC
  24. 2011-12-06
    ➕
    PROUD, David John appointed
    director
  25. 2009-08-17
    ➕
    PROUD, Julie appointed
    director
  26. 2008-03-28
    ➕
    PROUD, Julie appointed
    secretary
  27. 2008-03-28
    ➖
    PROUD, Steven David resigned
    secretary
  28. 2008-03-28
    ➖
    PROUD, Steven David resigned
    director
  29. 2003-01-23
    🏢
    Company incorporated
    As AQUA ROD (SOUTH WEST) LIMITED
  30. 2003-01-23
    ➕
    PROUD, Andrew Robert appointed
    director
  31. 2003-01-23
    ➕
    PROUD, Steven David appointed
    secretary
  32. 2003-01-23
    ➕
    SWIFT INCORPORATIONS LIMITED appointed
    corporate-nominee-secretary
  33. 2003-01-23
    ➖
    SWIFT INCORPORATIONS LIMITED resigned
    corporate-nominee-secretary
  34. 2003-01-23
    ➕
    PROUD, Steven David appointed
    director

Owner dependency

76/100
High — earn-out structure required

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

FACTORS
  • +Long-tenure founder: Senior director has been in place 23 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 61 — approaching natural succession window.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

70/100
Strong succession signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
  • primary20+ year tenure: Director in role 23 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 23 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.

Group structure

Proud Holdings Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Proud Holdings Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
AQUA ROD (SOUTH WEST) LIMITED
This company · 04646281

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
Proud Holdings Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control21/09/2016
3 historic (ceased) PSCs
  • Mr Andrew Robert Proudceased 21/09/2016· 25-50% shares · 25-50% voting
  • Mr David John Proudceased 21/09/2016· 25-50% shares · 25-50% voting
  • Mrs Julie Proudceased 21/09/2016· 25-50% shares · 25-50% voting

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

6 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
Incorporated2003-01-23
Jurisdictionengland-wales
Primary SIC39000 — SIC 39000

Registered office

Vivian House Newham Road
Truro
Cornwall
TR1 2DP
United Kingdom

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-02-06
Last: 2026-01-23

Officers (4 active · 3 resigned)

PROUD, Julie→
secretary · appointed 2008-03-28
View their other companies + combined net worth →
Active
PROUD, Andrew Robert→
director · ~61y · appointed 2003-01-23
View their other companies + combined net worth →
Active
PROUD, David John→
director · ~36y · appointed 2011-12-06
View their other companies + combined net worth →
Active
PROUD, Julie→
director · ~59y · appointed 2009-08-17
View their other companies + combined net worth →
Active
PROUD, Steven David→
secretary · appointed 2003-01-23 · resigned 2008-03-28
Resigned
SWIFT INCORPORATIONS LIMITED→
corporate-nominee-secretary · appointed 2003-01-23 · resigned 2003-01-23
Resigned
PROUD, Steven David→
director · ~65y · appointed 2003-01-23 · resigned 2008-03-28
Resigned

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

Mortgages & charges

4
Total charges
2
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Svenska Handelsbanken Ab (Publ)
A registered charge1 property03/11/2016—
outstanding
Svenska Handelsbanken Ab (Publ)
A registered charge1 property03/11/2016—
satisfied
Barclays
Barclays Bank PLC
A registered charge1 property15/04/201517/10/2017
satisfied
Barclays
Barclays Bank PLC
A registered charge—08/04/201511/09/2018
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (70 total)

change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-05-12
confirmation-statement-with-updates
confirmation-statement · CS01
2026-05-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-18
change-person-director-company-with-change-date
officers · CH01
2025-09-09
change-person-secretary-company-with-change-date
officers · CH03
2025-09-08
change-person-director-company-with-change-date
officers · CH01
2025-09-08
change-person-director-company-with-change-date
officers · CH01
2025-09-08
confirmation-statement-with-updates
confirmation-statement · CS01
2025-02-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-18
confirmation-statement-with-updates
confirmation-statement · CS01
2024-02-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-14
confirmation-statement-with-updates
confirmation-statement · CS01
2022-01-31
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-22