FORTH RESOURCE MANAGEMENT LIMITED

🌳Matureactive

SC229855 · ltd · incorporated 2002-04-03

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

—

year to Apr 2025

Net worth

—

book net assets

Opportunity

82/100

Exceptional

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What this business does

Primary activity: SIC 39000

Sector: Water supply & waste

Investor take

Pursue

Strong opportunity: active trading company with exceptional profile and acceptable with review structure.

Opportunity 82/100 (exceptional), bankability 67/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

5 live charges · 5 lenders · oldest 21.0y

35/100

too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

· Oldest live charge is 21.0 years old — likely at or near maturity.
· 5 lenders named — inter-creditor friction likely.
· Legal-friction score 35/100 — workable, but lender will want more DD.

Data confidence

Overall: high (82/100)

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

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

Directors & officers

10 officers (6 active, 10 linked, 7 with DOB)

Ownership & PSC

1 active PSC(s) of 4 total, 4 with control declared

Director network

12 connected companies via shared directors

Filing history

95 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

82/100Exceptional

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.

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	2025-04-30	2024-04-30
Average employees	54	4900

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

🔒Filing-note intelligence

2 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

filings

Last 90 days

filing

• 1 accounts

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (40 events)Click to expand

2026-01-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-30
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-29
➕
LOWE, Stuart appointed
director
2025-06-09
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-04-24
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-04-23
➖
WALKER, Derek resigned
director
2025-01-15
📄
memorandum-articles
incorporation · MA
2025-01-15
📄
resolution
resolution · RESOLUTIONS
2024-12-02
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-02-14
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-01-31
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-02-19
📄
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2022-02-15
📄
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2022-02-15
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-02-09
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-02-04
🔒
Charge registered #5
Lender: Levenseat LTD
2022-02-02
🔒
Charge registered #4
Lender: Levenseat LTD.
2022-01-31
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-04-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-02-10
📄
mortgage-satisfy-charge-full
mortgage · MR04
2020-02-10
🔓
Charge satisfied #3
2020-01-31
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-06-24
➕
HAMILTON, Angus James appointed
director
2019-06-24
➖
DUNBAR, Alexander Douglas resigned
director
2019-06-24
➕
WALKER, Derek appointed
director
2018-02-21
🔓
Charge satisfied #2
2014-06-26
🔒
Charge registered #3
Lender: Bank of Scotland PLC
2013-03-19
➕
WHITEFORD, Douglas Gordon appointed
director
2006-10-23
🔒
Charge registered #2
Lender: The Waste and Resources Action Programme
2006-02-06
➕
DUNBAR, Alexander Douglas appointed
director
2005-05-10
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
2002-04-03
🏢
Company incorporated
As FORTH RESOURCE MANAGEMENT LIMITED
2002-04-03
➕
DALE, Thomas appointed
secretary
2002-04-03
➕
DALE, Thomas appointed
director
2002-04-03
➕
GRAY, George Benjamin appointed
director
2002-04-03
➕
OSWALDS OF EDINBURGH LIMITED appointed
corporate-nominee-secretary
2002-04-03
➖
OSWALDS OF EDINBURGH LIMITED resigned
corporate-nominee-secretary
2002-04-03
➕
JORDANS (SCOTLAND) LIMITED appointed
corporate-nominee-director
2002-04-03
➖
JORDANS (SCOTLAND) LIMITED resigned
corporate-nominee-director

Owner dependency

58/100

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.
+Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

70/100

Strong succession signal

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
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

Name	Shares	Voting rights	Nature of control	Notified
Mr Thomas Dale Individual · British · DOB 05/1981 · age 45	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016

3 historic (ceased) PSCs

Levenseat Ltdceased 14/03/2024· 25-50% shares · 25-50% voting
Mr Alexander Douglas Dunbarceased 24/06/2019· 25-50% shares · 25-50% voting
Mr George Benjamin Grayceased 24/06/2019· 25-50% shares · 25-50% voting

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

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NWH GROUP LIMITED→ SC335165 · est 2007	£11.16M £8.04M–£14.29M	—	—	35600	18y	84	61y
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AW JENKINSON (WOODWASTE) LIMITED→ SC166685 · est 1996	£2.98M £2.14M–£3.81M	£11.23M	—	3600	29y	85	64y
BENMORE ESTATE LIMITED→ SC192048 · est 1998	—	—	£18.74M	—	27y	83	66y
BINN RENEWABLE ENERGY LIMITED→ SC375446 · est 2010 · no financials extracted	—	—	—	—	16y	83	81y
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HOME BASICS (TWEEDDALE) COMPANY LIMITED→ SC234746 · est 2002 · no financials extracted	—	—	—	—	23y	83	79y
AAIRECOOL TECHNICAL SERVICES LIMITED→ SC135544 · est 1991	—	—	—	700	34y	82	72y
ELIOCK HYDRO ELECTRIC COMPANY LIMITED→ SC133236 · est 1991	—	—	—	100	34y	82	68y
GREENSPAN ELECTRIC BALQUHINDACHY LIMITED→ SC357454 · est 2009	—	—	£753.6k	—	17y	82	59y
GREENSPAN ELECTRIC CAIRNMORE LIMITED→ SC357453 · est 2009	—	—	£571.6k	—	17y	82	59y
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Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

7 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

Incorporated2002-04-03

Jurisdictionscotland

Primary SIC39000 — SIC 39000

Registered office

East Fenton Composting Site

East Fenton

North Berwick

East Lothian

EH39 5AH

Scotland

Filing status

Accounts

Next due: 2027-01-31

Last made up to: 2025-04-30

Confirmation statement

Next due: 2026-06-23

Last: 2025-06-09