SUBCOOL (AIR CONDITIONING) LIMITED

💤Zombieactive
SC233229 · ltd · incorporated 2002-06-25
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 Mar 2025
Net worth
£768.6k
book net assets
Opportunity
82/100
Exceptional
🔔
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What this business does
Primary activity: SIC 35300
Sector: Electricity, gas & energy
Investor take
Pursue
Strong opportunity: active trading company with exceptional profile and bankable structure.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 59). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -42% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 19.9y

45/100
under pressure

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

  • · Oldest live charge is 19.9 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

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
75
Lenders & charges
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
5 officers (1 active, 5 linked, 2 with DOB)
78
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
6 connected companies via shared directors
63
Filing history
77 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
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 £768,574
Cash draining
Cash down 42% YoY
Cash YoY
-42%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£268k
↓ 42% YoY
Net Worth
£769k
~ YoY
Current Assets
£997k
↑ 53% YoY
Current Liabilities
—
£0£199k£399k£598k£798k£997kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£803.7k£813.6k
Current assets£997.2k£651.9k
Cash£268.3k£464.4k
Debtors£728.9k£187.5k
Net assets£768.6k£765.7k

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
0
filings
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (30 events)Click to expand
  1. 2026-03-10
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-01-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-10-03
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  5. 2023-10-03
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  6. 2023-10-03
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  7. 2023-09-26
    ➖
    LEROY, Ian William resigned
    secretary
  8. 2023-09-26
    ➖
    LEROY, Ian William resigned
    director
  9. 2023-09-14
    📄
    second-filing-of-confirmation-statement-with-made-up-date
    confirmation-statement · RP04CS01
  10. 2023-06-07
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  11. 2023-06-07
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  12. 2023-06-07
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  13. 2023-02-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2022-05-20
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  15. 2022-05-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2022-04-01
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  17. 2020-10-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2020-07-09
    📄
    accounts-amended-with-accounts-type-total-exemption-full
    accounts · AAMD
  19. 2020-03-27
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  20. 2019-12-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2019-12-30
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  22. 2006-06-30
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  23. 2002-06-25
    🏢
    Company incorporated
    As SUBCOOL (AIR CONDITIONING) LIMITED
  24. 2002-06-25
    ➕
    WARD, John Anthony appointed
    director
  25. 2002-06-25
    ➕
    LEROY, Ian William appointed
    secretary
  26. 2002-06-25
    ➕
    ACS SECRETARIES LIMITED appointed
    corporate-nominee-secretary
  27. 2002-06-25
    ➖
    ACS SECRETARIES LIMITED resigned
    corporate-nominee-secretary
  28. 2002-06-25
    ➕
    LEROY, Ian William appointed
    director
  29. 2002-06-25
    ➕
    ACS NOMINEES LIMITED appointed
    corporate-nominee-director
  30. 2002-06-25
    ➖
    ACS NOMINEES LIMITED resigned
    corporate-nominee-director

Owner dependency

93/100
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 24 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

85/100
Likely off-market candidate

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 24 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.)

Group structure

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

🏛️
Subcool Group Holdings Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
SUBCOOL (AIR CONDITIONING) LIMITED
This company · SC233229

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Subcool Group Holdings Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control29/05/2023
Mr John Anthony Ward
Individual · British · DOB 09/1967 · age 59
——sig. influencesignificant influence06/04/2016
1 historic (ceased) PSC
  • Mr Ian William Leroyceased 26/09/2023· significant influence

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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BRAIDENHILL FARM WIND LIMITED→
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——£3.15M—19y8362y
KARIS TECHNICAL SERVICES LTD.→
SC350406 · est 2008
——£65.9k—17y8262y
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——£192.8k—42y8267y
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SC238121 · est 2002 · no financials extracted
————23y8161y
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————25y8065y
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——£27.5k—23y8065y
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——£961.9k—13y8062y
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——£79.5k—16y8063y
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SC162876 · est 1996 · no financials extracted
————30y8065y
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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
Incorporated2002-06-25
Jurisdictionscotland
Primary SIC35300 — SIC 35300

Registered office

29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA
United Kingdom

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-06-22
Last: 2025-06-08

Officers (1 active · 4 resigned)

WARD, John Anthony→
director · ~59y · appointed 2002-06-25
View their other companies + combined net worth →
Active
LEROY, Ian William→
secretary · appointed 2002-06-25 · resigned 2023-09-26
Resigned
ACS SECRETARIES LIMITED→
corporate-nominee-secretary · appointed 2002-06-25 · resigned 2002-06-25
Resigned
LEROY, Ian William→
director · ~59y · appointed 2002-06-25 · resigned 2023-09-26
Resigned
ACS NOMINEES LIMITED→
corporate-nominee-director · appointed 2002-06-25 · resigned 2002-06-25
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 Royal Bank of Scotland PLC
Bond & floating charge1 property30/06/2006—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (77 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-31
termination-director-company-with-name-termination-date
officers · TM01
2023-10-03
termination-secretary-company-with-name-termination-date
officers · TM02
2023-10-03
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-03
second-filing-of-confirmation-statement-with-made-up-date
confirmation-statement · RP04CS01
2023-09-14
confirmation-statement-with-updates
confirmation-statement · CS01
2023-06-08
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-06-07
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-06-07
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-06-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-02-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-07-07