STEWART PIPEWORK LIMITED

💤Zombieactive
SC173222 · ltd · incorporated 1997-03-05
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.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
What changed my view
Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
80/100
Exceptional
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What this business does
Primary activity: SIC 33190
Sector: Manufacturing
ALSO REGISTERED FOR
  • 43220Plumbing, heat and air-conditioning installation
Investor take
Pursue
Active trading company with a 71-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (83/100, director aged 71). 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: share sale to pe / searcher (73/100).

Data confidence

Overall: medium (75/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, 2 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, 1 with DOB)
75
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
67 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
80/100Exceptional
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
90
Good data coverage for analysis.

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
Average employees200200

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
3
filings
  • • 2 persons-with-significant-control
  • • 1 confirmation-statement
Last 180 days
3
filings
  • • 2 persons-with-significant-control
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (22 events)Click to expand
  1. 2026-04-14
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  2. 2026-04-14
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  3. 2025-12-09
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2024-12-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2023-12-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2022-12-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2021-12-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-01-21
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2020-01-06
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2018-10-08
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2017-12-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2017-01-25
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  13. 2016-03-30
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  14. 2015-12-30
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2015-04-20
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 1997-03-05
    🏢
    Company incorporated
    As STEWART PIPEWORK LIMITED
  17. 1997-03-05
    ➕
    STEWART, Alison appointed
    secretary
  18. 1997-03-05
    ➕
    STEWART, Peter appointed
    director
  19. 1997-03-05
    ➕
    FIRST SCOTTISH SECRETARIES LIMITED appointed
    corporate-nominee-secretary
  20. 1997-03-05
    ➖
    FIRST SCOTTISH SECRETARIES LIMITED resigned
    corporate-nominee-secretary
  21. 1997-03-05
    ➕
    FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED appointed
    corporate-nominee-director
  22. 1997-03-05
    ➖
    FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED resigned
    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.
  • +Founder name in company name: Company name contains director surname "STEWART" — strong identity link between founder and business.
  • +Long-tenure founder: Senior director has been in place 29 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 71 — succession pressure is live.

Succession & seller-readiness

100/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 71 years old. Natural succession window is now.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 29 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 29 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

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mrs Alison Stewart
Individual · British · DOB 03/1956 · age 70
25–50%
25–50%board control25-50% shares · 25-50% voting · board control01/03/2026
Mr Peter Stewart
Individual · British · DOB 03/1955 · age 71
25–50%
25–50%board control25-50% shares · 25-50% voting · board control05/03/2017
1 historic (ceased) PSC
  • Mrs Alison Stewartceased 01/03/2026· 25-50% shares · 25-50% voting · board control

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

Similar companies

Active · Manufacturing · AB postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
GRAY & ADAMS LIMITED→
SC047482 · est 1970
£75.13M
£58.44M–£91.83M
——50256y8771y
GRAY & ADAMS GROUP LIMITED→
SC230241 · est 2002
£53.82M
£41.86M–£65.78M
——024y8571y
GRAY & ADAMS (DUNFERMLINE) LIMITED→
SC082971 · est 1983
£17.07M
£13.28M–£20.87M
——10643y8571y
GRAY & ADAMS (DONCASTER) LIMITED→
SC128013 · est 1990
£16.62M
£12.93M–£20.32M
——10135y8771y
INTERWELL LIMITED→
SC391140 · est 2011
£10.98M
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£33.44M—780015y9160y
EBLAST LIMITED→
SC202165 · est 1999
£8.03M
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DALES ENGINEERING SERVICES LIMITED→
SC107948 · est 1987
£6.22M
£4.84M–£7.60M
£21.87M—1100038y9370y
SUPERIOR ENERGY SERVICES LIMITED→
SC259694 · est 2003
£6.15M
£4.78M–£7.51M
£1.45M—150022y9460y
IMENCO UK LIMITED→
SC372021 · est 2010
£5.97M
£4.64M–£7.29M
£17.33M—1150016y9571y
TGT OILFIELD SERVICES UK LIMITED→
SC427554 · est 2012
£2.26M
£1.76M–£2.76M
£9.93M—300013y8461y
VECTOR SUPPLIES LIMITED→
SC103810 · est 1987
£1.63M
£1.27M–£1.99M
——1639y8571y
DALES 2002 LIMITED→
SC234880 · est 2002
£1.27M
£990.2k–£1.56M
——023y8370y
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
Incorporated1997-03-05
Jurisdictionscotland
Primary SIC33190 — SIC 33190

Registered office

19 Commerce Street
Insch
Aberdeenshire
AB52 6HX

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-19
Last: 2026-03-05

Officers (2 active · 2 resigned)

STEWART, Alison→
secretary · appointed 1997-03-05
View their other companies + combined net worth →
Active
STEWART, Peter→
director · ~71y · appointed 1997-03-05
View their other companies + combined net worth →
Active
FIRST SCOTTISH SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 1997-03-05 · resigned 1997-03-05
Resigned
FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED→
corporate-nominee-director · appointed 1997-03-05 · resigned 1997-03-05
Resigned

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

Recent filings (67 total)

notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2026-04-14
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-04-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-14
accounts-with-accounts-type-micro-entity
accounts · AA
2025-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-05
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-07
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-06
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-03-09
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-09
accounts-with-accounts-type-micro-entity
accounts · AA
2021-01-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-03-11