AQUA PHYSICAL LIMITED

💤Zombieactive
09349121 · ltd · incorporated 2014-12-10
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
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Turnover
year to Dec 2024
Net worth
£-255.8k
book net assets
Opportunity
71/100
Strong
🔔
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What this business does
Primary activity: Other amusement and recreation activities n.e.c.
Sector: Arts, entertainment & recreation
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 71/100 (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 -62% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: distressed disposal / insolvency (65/100).

Data confidence

Overall: medium (77/100)

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
Confirmed no charges registered
85
Directors & officers
4 officers (2 active, 4 linked, 3 with DOB)
85
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
30 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
71/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Negative net assets
Liabilities exceed assets by £255,772
Cash draining
Cash down 62% YoY
Cash YoY
-62%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£219
↓ 62% YoY
Net Worth
-£256k
↑ 7.0% YoY
Current Assets
£35k
↑ 196% YoY
Current Liabilities
-£275k-£213k-£151k-£89k-£27k£35kDec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-12-312023-12-31
Total assets£-253.9k£-273.0k
Current assets£35.1k£11.9k
Cash£219£571
Debtors£7.7k£6.3k
Net assets£-255.8k£-274.9k

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
1
filing
  • 1 officers
Counts from Companies House filing history.
Corporate timeline (23 events)Click to expand
  1. 2026-01-26
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  2. 2026-01-20
    WHELAN, Thomas William resigned
    director
  3. 2025-11-25
    COLEMAN, Charles Roderick Ney resigned
    director
  4. 2025-11-25
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  5. 2025-08-04
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  6. 2024-09-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  7. 2023-09-29
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  8. 2022-09-28
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  9. 2021-06-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  10. 2020-09-11
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  11. 2019-09-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2018-08-29
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  13. 2018-05-01
    📄
    capital-allotment-shares
    capital · SH01
  14. 2018-04-25
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  15. 2018-03-05
    📄
    resolution
    resolution · RESOLUTIONS
  16. 2018-02-27
    📄
    capital-allotment-shares
    capital · SH01
  17. 2017-11-07
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  18. 2017-09-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2016-01-01
    WHELAN, Thomas William appointed
    director
  20. 2014-12-10
    🏢
    Company incorporated
    As AQUA PHYSICAL LIMITED
  21. 2014-12-10
    FRANCIS COLEMAN, Leila Eleanor appointed
    secretary
  22. 2014-12-10
    FRANCIS COLEMAN, Leila Eleanor appointed
    director
  23. 2014-12-10
    COLEMAN, Charles Roderick Ney appointed
    director

Owner dependency

75/100
High — earn-out structure required

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

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

50/100
Moderate signal

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

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·
2 director resignations in last 12 months
medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: COLEMAN, Charles Roderick Ney resigned 2025-11-25; WHELAN, Thomas William resigned 2026-01-20

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Miss Leila Francis Coleman
Individual · British · DOB 03/1988 · age 38
75100%
75-100% shares06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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
Incorporated2014-12-10
Jurisdictionengland-wales
Primary SIC93290 — Other amusement and recreation activities n.e.c.

Registered office

Sea Dogs
25 Mereside
Portland
DT5 1PY
England

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-12-24
Last: 2025-12-10

Officers (2 active · 2 resigned)

FRANCIS COLEMAN, Leila Eleanor
secretary · appointed 2014-12-10
View their other companies + combined net worth →
Active
FRANCIS COLEMAN, Leila Eleanor
director · ~38y · appointed 2014-12-10
View their other companies + combined net worth →
Active
COLEMAN, Charles Roderick Ney
director · ~81y · appointed 2014-12-10 · resigned 2025-11-25
Resigned
WHELAN, Thomas William
director · ~37y · appointed 2016-01-01 · resigned 2026-01-20
Resigned

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

Recent filings (30 total)

termination-director-company-with-name-termination-date
officers · TM01
2026-01-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-12-11
termination-director-company-with-name-termination-date
officers · TM01
2025-11-25
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-08-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-19
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-09-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-12-19
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-09-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-12-15
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-09-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-12-15
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-06-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-12-10
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-09-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-12-11