HIGHLAND ROADBRUSH LTD

💤Zombieactive
11402775 · ltd · incorporated 2018-06-07
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
£-10.6k
book net assets
Opportunity
74/100
Strong
🔔
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What this business does
Primary activity: SIC 39000
Sector: Water supply & waste
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 74/100 (strong), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: distressed disposal / insolvency (65/100).

🏦

Refinance opportunity

1 live charge · oldest 2.2y

10/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Newest facility, 2.2 years old — likely still in initial term.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
3 officers (1 active, 3 linked, 2 with DOB)
83
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
29 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
65
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Negative net assets
Liabilities exceed assets by £10,603

Key financials

2 years extracted from filed iXBRL accounts
Cash
£14k
Net Worth
-£11k
↑ 79% YoY
Current Assets
£14k
↑ 809% YoY
Current Liabilities
—
-£51k-£38k-£25k-£12k£1k£14kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Total assets£-10.0k£-43.4k
Current assets£14.0k£1.5k
Cash£14.0k—
Net assets£-10.6k£-50.5k

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
1
filing
  • • 1 confirmation-statement
Last 180 days
3
filings
  • • 1 confirmation-statement
  • • 1 address
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
  1. 2026-02-20
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  2. 2025-12-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-12-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2024-04-11
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  5. 2024-03-12
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  6. 2024-03-12
    🔒
    Charge registered #1
    Lender: Antony John Mulligan
  7. 2023-12-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2023-08-30
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  9. 2022-12-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2022-01-14
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  11. 2021-12-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2020-12-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2019-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  14. 2019-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  15. 2019-07-01
    ➖
    MULLIGAN, Antony John resigned
    director
  16. 2019-07-01
    ➖
    SANDGROWN HOLDINGS LTD. resigned
    corporate-director
  17. 2019-06-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  18. 2019-04-25
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  19. 2019-04-01
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  20. 2018-10-03
    ➕
    SANDGROWN HOLDINGS LTD. appointed
    corporate-director
  21. 2018-10-03
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  22. 2018-06-07
    🏢
    Company incorporated
    As HIGHLAND ROADBRUSH LTD
  23. 2018-06-07
    ➕
    MULLIGAN, Martin Andrew appointed
    director
  24. 2018-06-07
    ➕
    MULLIGAN, Antony John 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

45/100
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.

Red flags

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

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

🏛️
Sandgrown Holdings Ltd.
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
HIGHLAND ROADBRUSH LTD
This company · 11402775

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
Sandgrown Holdings Ltd.
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control03/10/2018
1 historic (ceased) PSC
  • Mr Antony John Mulliganceased 03/10/2018· 75-100% shares · 75-100% voting · board control

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
Incorporated2018-06-07
Jurisdictionengland-wales
Primary SIC39000 — SIC 39000

Registered office

Unit 3b Trident Business Centre
Amy Johnson Way
Blackpool
FY4 2RP
England

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-04-12
Last: 2026-03-29

Officers (1 active · 2 resigned)

MULLIGAN, Martin Andrew→
director · ~55y · appointed 2018-06-07
View their other companies + combined net worth →
Active
MULLIGAN, Antony John→
director · ~57y · appointed 2018-06-07 · resigned 2019-07-01
Resigned
SANDGROWN HOLDINGS LTD.→
corporate-director · appointed 2018-10-03 · resigned 2019-07-01
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
Antony John Mulligan
A registered charge—12/03/2024—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (29 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-01
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-02-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-01
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-07-22
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-04-11
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-03-12
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-29
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-08-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-03
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-05-24
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-01-14
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-22