SURFACE HEATING SYSTEMS LIMITED

🌳Matureactive

SC178376 · ltd · incorporated 1997-09-01

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

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 3.6y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Sept 2025

Net worth

—

book net assets

Opportunity

74/100

Strong

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What this business does

Primary activity: Electrical installation

Sector: Construction

Investor take

Pursue

Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 74/100 (strong), bankability 80/100. Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (63/100).

🏦

Refinance opportunity

2 live charges · oldest 3.6y

75/100

ready

Refinance conversation should be productive — structure clean and timing right.

· Charge age ~3.6 years — mid-life; refi window approaching.
· Single lender — cleanest path to refinance.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: high (80/100)

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

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

13 officers (6 active, 13 linked, 10 with DOB)

Ownership & PSC

1 active PSC(s) of 2 total, 2 with control declared

Director network

2 connected companies via shared directors

Filing history

86 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

74/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Some acquirability indicators.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-09-30	2024-09-30
Average employees	700	800

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

filing

• 1 accounts

Last 90 days

filings

• 1 accounts
• 1 confirmation-statement

Last 180 days

filings

• 1 accounts
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (43 events)Click to expand

2026-04-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-06
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-28
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-20
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-10-06
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-10-05
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-10-05
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-10-05
🔒
Charge registered #2
Lender: Michael Cummings, Helen Cummings and Andrea Blyth
2022-10-03
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-10-03
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-10-03
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-10-03
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-10-03
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2022-10-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-10-03
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2022-10-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-10-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-10-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-10-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-09-30
➕
STROBEL, Alison appointed
secretary
2022-09-30
➕
CUMMINGS, Samantha Louise appointed
director
2022-09-30
➕
GOOD, Richard Thomas appointed
director
2022-09-30
➕
MUNRO, Shane appointed
director
2022-09-30
➕
SCOTT, Thomas Norman appointed
director
2022-09-30
➕
STROBEL, Alison appointed
director
2022-09-30
➖
CUMMINGS, Helen Clark resigned
secretary
2022-09-30
➖
BLYTH, Andrea Mcdonald resigned
director
2022-09-30
➖
CUMMINGS, Helen Clark resigned
director
2022-09-30
➖
CUMMINGS, Michael resigned
director
2022-09-30
🔒
Charge registered #1
Lender: Michael Cummings, Helen Cummings and Andrea Blyth
2022-08-30
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-05-06
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-04-01
➕
BLYTH, Andrea Mcdonald appointed
director
2019-04-01
➕
CUMMINGS, Helen Clark appointed
director
2006-09-14
➖
WADDELL, David Robert resigned
director
1999-04-01
➕
CUMMINGS, Helen Clark appointed
secretary
1999-04-01
➖
T D YOUNG & CO resigned
corporate-nominee-secretary
1997-09-02
➕
CUMMINGS, Michael appointed
director
1997-09-02
➕
WADDELL, David Robert appointed
director
1997-09-02
➖
YOUNG, Thomas Duncan resigned
nominee-director
1997-09-01
🏢
Company incorporated
As SURFACE HEATING SYSTEMS LIMITED
1997-09-01
➕
T D YOUNG & CO appointed
corporate-nominee-secretary
1997-09-01
➕
YOUNG, Thomas Duncan appointed
nominee-director

Owner dependency

40/100

Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS

-5 active directors: Broader management team in place — suggests transferable governance.

Succession & seller-readiness

40/100

Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS

secondaryStable-but-static management: Company is 29 years old and no new directors in the last 3 years — succession not yet being planned internally.

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

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

🏛️

Bomad Holdings Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

SURFACE HEATING SYSTEMS LIMITED

This company · SC178376

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
Bomad Holdings Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	14/05/2019

1 historic (ceased) PSC

Mr Michael Cummingsceased 14/05/2019· 50-75% shares

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 →

Similar companies

Active · Construction · KY postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
T. & N. GILMARTIN (CONTRACTORS) LIMITED→ SC105726 · est 1987	£3.97M £2.83M–£5.10M	—	—	85	38y	88	59y
CARTMORE BUILDING SUPPLY COMPANY LIMITED→ SC100217 · est 1986	£120.6k £86.1k–£155.0k	£16.41M	—	2800	39y	83	78y
AMBER ROOFING LIMITED→ SC130516 · est 1991	—	—	£709.2k	—	35y	83	59y
CAMPBELL & GAY (BUILDERS) LIMITED→ SC215346 · est 2001	—	—	—	400	25y	83	62y
CLOVECREST LIMITED→ SC270216 · est 2004	—	—	—	0	21y	83	64y
RYAN CLELLAND ELECTRICAL LTD→ SC878790 · est 2026 · no financials extracted	—	—	—	—	—	—	—
STEPHEN WHITE DEVELOPMENTS LTD.→ SC210101 · est 2000 · no financials extracted	—	—	—	—	25y	—	—
THOMSON HOMES LIMITED→ SC247470 · est 2003 · no financials extracted	—	—	—	—	23y	—	—
ULTIMATE PROPERTY SOLUTIONS (FIFE) LIMITED→ SC707036 · est 2021 · no financials extracted	—	—	—	—	4y	—	—
V9LVT LTD→ SC772027 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
VA CONSTRUCTION SERVICES LIMITED→ SC311249 · est 2006 · no financials extracted	—	—	—	—	19y	—	—
WAULKMILL FARMS LIMITED→ SC798179 · est 2024 · no financials extracted	—	—	—	—	2y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

6 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

Incorporated1997-09-01

Jurisdictionscotland

Primary SIC43210 — Electrical installation

Registered office

66 Cavendish Way

Glenrothes

KY6 2SB

Scotland

Filing status

Accounts

Next due: 2027-06-30

Last made up to: 2025-09-30

Confirmation statement

Next due: 2027-03-08

Last: 2026-02-22