BELFAST GAS TRANSMISSION LIMITED

🌳Matureactive

NI026420 · ltd · incorporated 1992-03-09

Investment thesis

Well-run mature business — low negotiation leverage; premium likely.

Why interesting: Textbook target; clean filings, stable trading.

Why risky: No pressure on seller; any deal likely at full price.

Opportunity decay

hardening · 12-months

Already tight — no obvious softening catalysts on the horizon.

· Thesis: well-run, low negotiation leverage

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

83/100

Exceptional

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What this business does

Primary activity: SIC 35220

Sector: Electricity, gas & energy

Investor take

Pursue

Active trading company with a 77-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 77). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (45/100).

🏦

Refinance opportunity

5 live charges · 3 lenders · oldest 21.6y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 21.6 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 48/100 (high).

Data confidence

Overall: medium (61/100)

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

No iXBRL financials extracted

Lenders & charges

5 charges (5/5 with lender, 5/5 with type)

Directors & officers

53 officers (9 active, 53 linked, 49 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

15 connected companies via shared directors

Filing history

353 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

83/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

Last 90 days

filings

Last 180 days

filings

• 1 confirmation-statement
• 1 officers

Counts from Companies House filing history.

Corporate timeline (124 events)Click to expand

2026-01-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-01-01
➕
LEWIS, Alexandra Morton appointed
director
2025-09-17
📄
accounts-with-accounts-type-full
accounts · AA
2025-07-01
➕
ARMSTRONG, Emma Jayne appointed
secretary
2025-07-01
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2025-07-01
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2025-06-30
➖
MCILROY, Gerard resigned
secretary
2024-11-25
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-11-20
➕
O'REILLY, Maureen appointed
director
2024-10-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-10-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-10-15
📄
accounts-with-accounts-type-full
accounts · AA
2024-09-25
➖
ANDERSON, Patrick Michael resigned
director
2024-09-25
➖
MCKERNAN, Michael James resigned
director
2023-11-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-11-20
➕
MCKEOWN, Norman appointed
director
2023-09-14
📄
accounts-with-accounts-type-full
accounts · AA
2022-12-01
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-10-04
📄
auditors-resignation-company
auditors · AUD
2022-10-04
📄
auditors-resignation-company
auditors · AUD
2022-09-29
➖
MURRAY, Christopher John resigned
director
2022-09-28
📄
accounts-with-accounts-type-full
accounts · AA
2021-09-24
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-09-23
➖
MINGAY, Katherine Jane resigned
director
2021-09-21
📄
accounts-with-accounts-type-full
accounts · AA
2021-09-06
📄
appoint-person-director-company-with-name-date
officers · AP01
2021-09-01
➕
MCCRACKEN, Harold appointed
director
2020-09-24
📄
accounts-with-accounts-type-full
accounts · AA
2020-03-11
📄
appoint-person-director-company-with-name-date
officers · AP01
2020-03-01
➕
RICHARDS, Ceri appointed
director
2019-01-01
➕
GRAY, David Middleton appointed
director
2018-12-31
➖
FINN, Regina resigned
director
2018-01-01
➕
MCKERNAN, Michael James appointed
director
2017-09-30
➖
BLACK, Clarke resigned
director
2016-10-01
➕
ANDERSON, Patrick Michael appointed
director
2016-09-29
➖
KIRKPATRICK, Stephen resigned
director
2014-05-01
➕
MINGAY, Katherine Jane appointed
director
2014-05-01
➕
MURRAY, Christopher John appointed
director
2013-12-31
➖
WALSH, Gerry resigned
director
2013-11-30
➖
WARRY, Peter Thomas, Dr resigned
director
2011-01-01
➕
BLACK, Clarke appointed
director
2010-09-21
➖
HUSTON, Felicity Victoria resigned
director
2010-04-01
➕
KIRKPATRICK, Stephen appointed
director
2010-01-01
➕
MCILROY, Gerard Myles appointed
director
2010-01-01
➖
CARGO, William James resigned
director
2009-09-29
➖
MCATEER, Damian Gerard resigned
director
2009-09-29
➖
MCLURE, Alan resigned
director
2009-09-26
➕
MCILROY, Gerard appointed
secretary
2009-09-26
➖
ANNSGATE LIMITED resigned
corporate-secretary
2008-12-31
➖
LOCKE, Alasdair James Dougall resigned
director

Showing most recent 50 of 124 events

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

-8 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 18 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 77 — succession pressure is live.

Succession & seller-readiness

73/100

Strong succession signal

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

SIGNALS

primaryFounder aged 70+: Senior director is approximately 77 years old. Natural succession window is now.
secondary12+ year tenure: Director in role 18 years.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

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

Belfast Gas Transmission Financing Plc is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Belfast Gas Transmission Financing Plc

Corporate parent · holds 75-100% shares

ultimate parent

⬇

BELFAST GAS TRANSMISSION LIMITED

This company · NI026420

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%

Name	Shares	Voting rights	Nature of control	Notified
Belfast Gas Transmission Financing Plc Corporate entity	75–100%	—	75-100% shares	06/04/2016

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

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.

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Company details

Statusactive

Typeltd

Incorporated1992-03-09

Jurisdictionnorthern-ireland

Primary SIC35220 — SIC 35220

Registered office

First Floor The Arena Building

85 Ormeau Road

Belfast

BT7 1SH

Northern Ireland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-02-14

Last: 2026-01-31