FUEL CHANGE LTD

💤Zombieactive
SC668451 · ltd · incorporated 2020-07-23
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 Jul 2025
Net worth
£100
book net assets
Opportunity
76/100
Strong
🔔
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What this business does
Primary activity: Activities of head offices
Sector: Professional, scientific & technical
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

Opportunity 76/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. 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 (79/100)

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
Confirmed no charges registered
85
Directors & officers
4 officers (1 active, 4 linked, 4 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
26 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
76/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
65
Adequate — check latest filings for context.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £100

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£100
~ YoY
Current Assets
—
Current Liabilities
—
£0£20£40£60£80£100Jul 2024Jul 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-07-312024-07-31
Total assets£100£100
Net assets£100£100

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

Recent activity

Last 30 days
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
3
filings
  • • 1 accounts
  • • 1 confirmation-statement
  • • 1 officers
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2026-04-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2026-01-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  3. 2025-12-23
    ➖
    ALLISON, David resigned
    director
  4. 2025-04-16
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2024-05-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2023-06-23
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  7. 2023-06-22
    ➖
    REID, David Oliver resigned
    director
  8. 2023-04-26
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2023-01-15
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2023-01-15
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  11. 2022-12-28
    📄
    resolution
    resolution · RESOLUTIONS
  12. 2022-12-22
    ➕
    STEWART, Alison appointed
    director
  13. 2022-12-22
    ➕
    ALLISON, David appointed
    director
  14. 2022-03-22
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  15. 2022-03-08
    📄
    change-account-reference-date-company-current-shortened
    accounts · AA01
  16. 2022-01-10
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  17. 2021-07-11
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  18. 2021-07-11
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  19. 2021-07-08
    ➖
    HANNAY, Philip Adamson resigned
    director
  20. 2021-07-08
    ➕
    REID, David Oliver appointed
    director
  21. 2021-01-03
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  22. 2021-01-02
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  23. 2020-09-14
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  24. 2020-09-13
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  25. 2020-07-23
    🏢
    Company incorporated
    As FUEL CHANGE LTD
  26. 2020-07-23
    ➕
    HANNAY, Philip Adamson appointed
    director

Owner dependency

83/100
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.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

55/100
Strong succession signal

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

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.

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

Forth Valley College is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Forth Valley College
Corporate parent · holds 75-100% shares
ultimate parent
⬇
FUEL CHANGE LTD
This company · SC668451

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%
NameSharesVoting rightsNature of controlNotified
Forth Valley College
Corporate entity
75–100%
75–100%75-100% shares · 75-100% voting23/07/2020
1 historic (ceased) PSC
  • Mr Philip Adamson Hannayceased 23/07/2020· 75-100% shares · 75-100% 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 →

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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
Incorporated2020-07-23
Jurisdictionscotland
Primary SIC70100 — Activities of head offices

Registered office

Forth Valley College
Grangemouth Road
Falkirk
FK2 9AD
Scotland

Filing status

Accounts
Next due: 2027-04-30
Last made up to: 2025-07-31
Confirmation statement
Next due: 2027-01-16
Last: 2026-01-02

Officers (1 active · 3 resigned)

STEWART, Alison→
director · ~59y · appointed 2022-12-22
View their other companies + combined net worth →
Active
ALLISON, David→
director · ~56y · appointed 2022-12-22 · resigned 2025-12-23
Resigned
HANNAY, Philip Adamson→
director · ~48y · appointed 2020-07-23 · resigned 2021-07-08
Resigned
REID, David Oliver→
director · ~60y · appointed 2021-07-08 · resigned 2023-06-22
Resigned

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

Recent filings (26 total)

accounts-with-accounts-type-micro-entity
accounts · AA
2026-04-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-22
termination-director-company-with-name-termination-date
officers · TM01
2026-01-05
accounts-with-accounts-type-micro-entity
accounts · AA
2025-04-16
confirmation-statement-with-updates
confirmation-statement · CS01
2025-01-10
accounts-with-accounts-type-micro-entity
accounts · AA
2024-05-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-15
termination-director-company-with-name-termination-date
officers · TM01
2023-06-23
accounts-with-accounts-type-micro-entity
accounts · AA
2023-04-26
appoint-person-director-company-with-name-date
officers · AP01
2023-01-15
appoint-person-director-company-with-name-date
officers · AP01
2023-01-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-13
resolution
resolution · RESOLUTIONS
2022-12-28
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-03-22
change-account-reference-date-company-current-shortened
accounts · AA01
2022-03-08