AQUA-SOURCE (S.W.) LIMITED
💤Zombieactive
04888323 · ltd · incorporated 2003-09-04
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 Aug 2025
Net worth
£579.4k
book net assets
Opportunity
77/100
Strong
What this business does
Primary activity: SIC 43130
Sector: Construction
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 77/100 (strong), bankability 75/100. 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 -88% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
2 live charges · 2 lenders · oldest 22.7y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 22.7 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · 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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
3 officers (2 active, 3 linked, 1 with DOB)
77
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
52 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
77/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
60
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 declaredPositive net assets
Net assets £579,405
Very low cash
Cash position: £19
Cash draining
Cash down 88% YoY
Cash YoY
-88%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£19
↓ 88% YoY
Net Worth
£579k
↑ 7.5% YoY
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-08-31 | 2024-08-31 |
|---|---|---|
| Cash | £19 | £157 |
| Net assets | £579.4k | £539.1k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
3 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
0
filings
Last 180 days
1
filing
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (22 events)Click to expand
- 2026-02-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-02-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-02-08📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-03-10📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-02-08📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-12-09📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2021-11-25🔒Charge registered #2Lender: Lloyds Bank PLC
- 2021-02-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-01-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-10-31📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2019-02-08📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-01-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-02-20📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2016-02-09📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2015-09-07📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2014-12-09📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2003-10-06🔒Charge registered #1Lender: Lloyds Tsb Bank PLC
- 2003-09-04🏢Company incorporatedAs AQUA-SOURCE (S.W.) LIMITED
- 2003-09-04➕BLAKE, Sally-Ann appointedsecretary
- 2003-09-04➕BLAKE, David Mark appointeddirector
- 2003-09-04➕SWIFT INCORPORATIONS LIMITED appointedcorporate-nominee-secretary
- 2003-09-04➖SWIFT INCORPORATIONS LIMITED resignedcorporate-nominee-secretary
Owner dependency
85/100
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 23 years — deep operational knowledge concentrated in one person.
Succession & seller-readiness
75/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- 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
cleanNo 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| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
David Mark Blake Individual · British · DOB 11/1970 · age 56 | 50–75% | 50–75% | board control50-75% shares · 50-75% voting · board control | 06/04/2016 |
Sally-Ann Blake Individual · British · DOB 05/1971 · age 55 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Construction · TR postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| AJS IGNITE LTD→ 15503857 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| ALEXN TRADING LTD→ 13383090 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| ALLRISE SCAFFOLDING LTD→ 14633070 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| AMENO TRANSPORT LIMITED→ 14381060 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| ANDREW ANNEAR ENGINEERING LIMITED→ 12829120 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| ANNA WILSON PROPERTY LTD→ 12127060 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| ANNED DEVELOPMENTS LTD→ 14513665 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| ANNED SCAFFOLDING LTD→ 15932023 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| APDP DEVELOPMENTS LTD→ 10208037 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| APPLE TREE HOMES LTD→ 11286865 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
| AQUAGAS (CORNWALL) LIMITED→ 05741575 · est 2006 · no financials extracted | — | — | — | — | 20y | — | — |
| ARADIS LIMITED→ 04332897 · est 2001 · no financials extracted | — | — | — | — | 24y | — | — |
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
Incorporated2003-09-04
Jurisdictionengland-wales
Primary SIC43130 — SIC 43130
Registered office
C/O Bishop Fleming
Chy Nyverow Newham Road
Truro
Cornwall
TR1 2DP
Filing status
Accounts
Next due: 2027-05-31
Last made up to: 2025-08-31
Confirmation statement
Next due: 2026-09-18
Last: 2025-09-04
Officers (2 active · 1 resigned)
Active
BLAKE, David Mark→
Activedirector · ~56y · appointed 2003-09-04
View their other companies + combined net worth →
SWIFT INCORPORATIONS LIMITED→
Resignedcorporate-nominee-secretary · appointed 2003-09-04 · resigned 2003-09-04
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 | Lloyds Banking Group Lloyds Bank PLC | A registered charge | 1 property | 25/11/2021 | — | |
| outstanding | Lloyds Banking Group Lloyds Tsb Bank PLC | Debenture | 1 property | 06/10/2003 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (52 total)
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-24
confirmation-statement-with-updates
confirmation-statement · CS01
2025-09-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-17
confirmation-statement-with-updates
confirmation-statement · CS01
2024-09-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-08
confirmation-statement-with-updates
confirmation-statement · CS01
2023-09-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-03-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-09-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-02-08
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-09-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-02-18
confirmation-statement-with-updates
confirmation-statement · CS01
2020-09-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-01-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2019-10-31