ANCALA WATER SERVICES TOPCO 1 LIMITED

📉Decliningactive
12457091 · ltd · incorporated 2020-02-11
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
  • · Lifecycle stage drifting downward
  • · Currently "declining"
🔒Estimated value
Upgrade to see
Turnover
year to Mar 2025
Net worth
book net assets
Opportunity
71/100
Strong
🔔
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What this business does
Primary activity: Activities of other holding companies n.e.c.
Sector: Financial & insurance
Investor take
Special-situation opportunity
Distressed holding with salvageable qualities — special-situations priority.

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: Resolve: 1 insolvency-related filing on record. Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding. Most likely exit: strategic trade sale (78/100).

Data confidence

Overall: high (84/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

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
5 officers (3 active, 5 linked, 5 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
25 connected companies via shared directors
90
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
65
Adequate — check latest filings for context.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
64
Some moderate concerns — review flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Profitable
Profit before tax £3,000,000

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
Current Assets
Current Liabilities
£0£0£0£0£0£0Mar 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
Profit before tax£3.00M£20.45M
Average employees00

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

🔒Filing-note intelligence

4 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 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (27 events)Click to expand
  1. 2025-11-20
    📄
    accounts-with-accounts-type-full
    accounts · AA
  2. 2025-09-04
    📄
    capital-statement-capital-company-with-date-currency-figure
    capital · SH19
  3. 2025-09-04
    📄
    legacy
    capital · SH20
  4. 2025-09-04
    ⚠️
    legacy
    insolvency · CAP-SS
  5. 2025-09-04
    📄
    resolution
    resolution · RESOLUTIONS
  6. 2024-12-09
    📄
    accounts-with-accounts-type-full
    accounts · AA
  7. 2024-09-06
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2024-08-19
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  9. 2023-12-12
    📄
    accounts-with-accounts-type-full
    accounts · AA
  10. 2023-08-14
    STATELOVA, Sandra resigned
    director
  11. 2023-08-14
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  12. 2022-08-26
    📄
    accounts-with-accounts-type-full
    accounts · AA
  13. 2022-07-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  14. 2022-07-01
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  15. 2022-05-19
    PAPAIACOVOU, Michael resigned
    director
  16. 2022-05-19
    STATELOVA, Sandra appointed
    director
  17. 2022-03-22
    📍
    change-sail-address-company-with-new-address
    address · AD02
  18. 2021-10-13
    📄
    capital-allotment-shares
    capital · SH01
  19. 2021-08-05
    📄
    accounts-with-accounts-type-full
    accounts · AA
  20. 2021-07-08
    📄
    change-account-reference-date-company-previous-extended
    accounts · AA01
  21. 2021-03-23
    📄
    memorandum-articles
    incorporation · MA
  22. 2021-03-23
    📄
    resolution
    resolution · RESOLUTIONS
  23. 2020-02-11
    🏢
    Company incorporated
    As ANCALA WATER SERVICES TOPCO 1 LIMITED
  24. 2020-02-11
    CLUNIE, Spence Matthew appointed
    director
  25. 2020-02-11
    HOUGH, Ashley Patrick Roderick appointed
    director
  26. 2020-02-11
    OWENS, David William appointed
    director
  27. 2020-02-11
    PAPAIACOVOU, Michael appointed
    director

Owner dependency

65/100
High — earn-out structure required

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

FACTORS
  • +Founder age: Director aged approximately 74 — succession pressure is live.

Succession & seller-readiness

60/100
Strong succession signal

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 74 years old. Natural succession window is now.

Red flags

1 high · 1 low
1 insolvency-related filing on record
high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2025-09-04: legacy

Multiple registered office changes
low

Multiple address changes in a short period can indicate operational instability or admin disorder.

Group structure

Ancala Water Services Investco Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Ancala Water Services Investco Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
ANCALA WATER SERVICES TOPCO 1 LIMITED
This company · 12457091

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
Ancala Water Services Investco Limited
Corporate entity
75100%
75–100%board control75-100% shares · 75-100% voting · board control11/02/2020

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

9 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
Incorporated2020-02-11
Jurisdictionengland-wales
Primary SIC64209 — Activities of other holding companies n.e.c.

Registered office

20 Gracechurch Street
London
EC3V 0AF
England

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-02-17
Last: 2026-02-03

Officers (3 active · 2 resigned)

CLUNIE, Spence Matthew
director · ~54y · appointed 2020-02-11
View their other companies + combined net worth →
Active
HOUGH, Ashley Patrick Roderick
director · ~43y · appointed 2020-02-11
View their other companies + combined net worth →
Active
OWENS, David William
director · ~74y · appointed 2020-02-11
View their other companies + combined net worth →
Active
PAPAIACOVOU, Michael
director · ~38y · appointed 2020-02-11 · resigned 2022-05-19
Resigned
STATELOVA, Sandra
director · ~36y · appointed 2022-05-19 · resigned 2023-08-14
Resigned

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

Recent filings (30 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-02-04
accounts-with-accounts-type-full
accounts · AA
2025-11-20
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2025-09-04
legacy
capital · SH20
2025-09-04
legacy
insolvency · CAP-SS
2025-09-04
resolution
resolution · RESOLUTIONS
2025-09-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-11
accounts-with-accounts-type-full
accounts · AA
2024-12-09
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-09-06
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-08-19
confirmation-statement-with-updates
confirmation-statement · CS01
2024-02-12
accounts-with-accounts-type-full
accounts · AA
2023-12-12
termination-director-company-with-name-termination-date
officers · TM01
2023-08-14
confirmation-statement-with-updates
confirmation-statement · CS01
2023-02-03
accounts-with-accounts-type-full
accounts · AA
2022-08-26