HOT SPRING PORTABLE SPAS (SCOTLAND) LIMITED

💤Zombieactive
SC148582 · ltd · incorporated 1994-01-24
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 Jan 2025
Net worth
£3.0k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Non-trading company
Sector: Professional, scientific & technical
Investor take
Pursue
Dormant / non-trading with a 65-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (83/100, director aged 65). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 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

1 live charge · oldest 31.9y

45/100
under pressure

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

  • · Oldest live charge is 31.9 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · 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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
5 officers (2 active, 5 linked, 1 with DOB)
74
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
85 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
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.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £3,043

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£3k
~ YoY
Current Assets
—
Current Liabilities
—
£0£609£1k£2k£2k£3kJan 2024Jan 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-01-312024-01-31
Total assets£42.5k£42.5k
Net assets£3.0k£3.0k

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

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. 2025-10-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-10-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-12-05
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2022-10-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2022-04-13
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  6. 2022-04-12
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  7. 2021-11-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-01-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2019-07-10
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  10. 2019-07-02
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  11. 2019-05-14
    📄
    dissolved-compulsory-strike-off-suspended
    dissolution · DISS16(SOAS)
  12. 2019-04-16
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  13. 2019-02-09
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  14. 2019-02-09
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  15. 2019-02-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2019-02-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2019-01-08
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  18. 1995-07-01
    ➕
    BADENOCH, Alastair Gerrard appointed
    secretary
  19. 1995-07-01
    ➖
    LOGAN, Caroline resigned
    secretary
  20. 1994-07-01
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  21. 1994-01-31
    ➕
    WATSON, John Knox appointed
    director
  22. 1994-01-31
    ➕
    LOGAN, Caroline appointed
    secretary
  23. 1994-01-31
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary
  24. 1994-01-31
    ➖
    JORDANS (SCOTLAND) LIMITED resigned
    corporate-nominee-director
  25. 1994-01-24
    🏢
    Company incorporated
    As HOT SPRING PORTABLE SPAS (SCOTLAND) LIMITED
  26. 1994-01-24
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  27. 1994-01-24
    ➕
    JORDANS (SCOTLAND) LIMITED appointed
    corporate-nominee-director

Owner dependency

100/100
Critical — business is the founder

The 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 32 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 65 — succession pressure is live.

Succession & seller-readiness

95/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 65. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 32 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 32 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

clean
No 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%
NameSharesVoting rightsNature of controlNotified
Mr John Knox Watson
Individual · British · DOB 08/1961 · age 65
75–100%
—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

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
Incorporated1994-01-24
Jurisdictionscotland
Primary SIC74990 — Non-trading company

Registered office

Cockrigg Cottage
Glenbrook
Balerno
EH14 7JE
Scotland

Filing status

Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2027-02-07
Last: 2026-01-24

Officers (2 active · 3 resigned)

BADENOCH, Alastair Gerrard→
secretary · appointed 1995-07-01
View their other companies + combined net worth →
Active
WATSON, John Knox→
director · ~65y · appointed 1994-01-31
View their other companies + combined net worth →
Active
LOGAN, Caroline→
secretary · appointed 1994-01-31 · resigned 1995-07-01
Resigned
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 1994-01-24 · resigned 1994-01-31
Resigned
JORDANS (SCOTLAND) LIMITED→
corporate-nominee-director · appointed 1994-01-24 · resigned 1994-01-31
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
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Bond & floating charge1 property01/07/1994—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (85 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-02-07
accounts-with-accounts-type-micro-entity
accounts · AA
2025-10-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-13
accounts-with-accounts-type-micro-entity
accounts · AA
2024-10-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-24
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-26
accounts-with-accounts-type-micro-entity
accounts · AA
2022-10-31
gazette-filings-brought-up-to-date
gazette · DISS40
2022-04-13
gazette-notice-compulsory
gazette · GAZ1
2022-04-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-04-11
accounts-with-accounts-type-micro-entity
accounts · AA
2021-11-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-04-26
accounts-with-accounts-type-micro-entity
accounts · AA
2021-01-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-02-04