CORNWALL CULLET LIMITED
💤Zombieactive
06824806 · ltd · incorporated 2009-02-19
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 May 2025
Net worth
—
book net assets
Opportunity
82/100
Exceptional
What this business does
Primary activity: SIC 38320
Sector: Water supply & waste
Investor take
PursueActive trading company with a 66-year-old founder — textbook succession opportunity.
Opportunity 82/100 (exceptional), bankability 75/100. Strong seller-intent signal (83/100, director aged 66). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 2 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
2 live charges · 2 lenders · oldest 17.0y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 17.0 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 (1 active, 3 linked, 1 with DOB)
77
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
47 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.
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-05-31 | 2024-05-31 |
|---|---|---|
| Average employees | 400 | 600 |
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
1
filing
- • 1 confirmation-statement
Last 180 days
1
filing
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (23 events)Click to expand
- 2025-10-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-02-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-03-04📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-05-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-03-21📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2023-01-01➖ANDERSON, Keith resignedsecretary
- 2022-05-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-05-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-02-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-02-26📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-02-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-02-27📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2016-04-01📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2016-02-11📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2015-02-25📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2015-02-25📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2011-01-10🔒Charge registered #2Lender: Hsbc Bank PLC
- 2010-03-23➕ANDERSON, Keith appointedsecretary
- 2010-03-22➖VINCENT, Nicola resignedsecretary
- 2009-06-10🔒Charge registered #1Lender: National Westminster Bank PLC
- 2009-02-19🏢Company incorporatedAs CORNWALL CULLET LIMITED
- 2009-02-19➕LEE, Jonathan appointeddirector
- 2009-02-19➕VINCENT, Nicola appointedsecretary
Owner dependency
100/100
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 17 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 66 — succession pressure is live.
Succession & seller-readiness
88/100
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 66. Approaching typical UK retirement age — succession thinking likely.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- secondary12+ year tenure: Director in role 17 years.
- secondaryStable-but-static management: Company is 17 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
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Jonathan Lee Individual · British · DOB 06/1960 · age 66 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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|---|---|---|---|---|---|---|---|
| 4WARD GROUP LTD→ 11009548 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| ANI ENERGY LTD→ 07676902 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
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| CLEAR - STREAM DRAINAGE SOLUTIONS LTD→ 15922470 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| COMMUNITY INFRASTRUCTURE SCILLY C.I.C.→ 14813424 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| CORNWALL DRAINS LTD→ 10127242 · est 2016 · no financials extracted | — | — | — | — | 10y | — | — |
| CORNWALL WASTE CARE LTD.→ 11712644 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| DAVIES DRAINAGE SOLUTIONS LTD→ 14415509 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| DSW ENVIRONMENTAL LTD→ 10113826 · est 2016 · no financials extracted | — | — | — | — | 10y | — | — |
| FAIRVIEW FARM LIMITED→ 07698719 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
| FERRY FARM COMMUNITY SOLAR PROJECT C.I.C.→ 09646669 · est 2015 · no financials extracted | — | — | — | — | 10y | — | — |
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated2009-02-19
Jurisdictionengland-wales
Primary SIC38320 — SIC 38320
Registered office
The Glass Works United Downs Industrial Park
St. Day
Redruth
Cornwall
TR16 5HY
Filing status
Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2027-03-05
Last: 2026-02-19
Officers (1 active · 2 resigned)
LEE, Jonathan→
Activedirector · ~66y · appointed 2009-02-19
View their other companies + combined net worth →
ANDERSON, Keith→
Resignedsecretary · appointed 2010-03-23 · resigned 2023-01-01
VINCENT, Nicola→
Resignedsecretary · appointed 2009-02-19 · resigned 2010-03-22
Click a director name to see their full track record across all companies.
Mortgages & charges
2
Total charges
2
Outstanding
2
Active lenders
Status:Lender:2 of 2 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | HSBC Hsbc Bank PLC | Debenture | 1 property | 10/01/2011 | — | |
| outstanding | National Westminster Bank National Westminster Bank PLC | Debenture | 1 property | 10/06/2009 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (47 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-20
confirmation-statement-with-updates
confirmation-statement · CS01
2025-02-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-04
confirmation-statement-with-updates
confirmation-statement · CS01
2024-02-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-31
confirmation-statement-with-updates
confirmation-statement · CS01
2023-03-21
termination-secretary-company-with-name-termination-date
officers · TM02
2023-03-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-05-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-03-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-31
confirmation-statement-with-updates
confirmation-statement · CS01
2021-03-25
confirmation-statement-with-updates
confirmation-statement · CS01
2020-03-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-02-29