CANAL & RIVER TRUST

🌳Matureactive

07807276 · private-limited-guarant-nsc-limited-exemption · incorporated 2011-10-12

Investment thesis

Looks cheap but ownership + security both unclear — probable value trap.

Why interesting: Headline metrics may be attractive.

Why risky: No PSC visibility combined with multiple live charges; transacting likely slow and expensive.

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

74/100

Strong

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What this business does

Primary activity: SIC 36000

Sector: Water supply & waste

ALSO REGISTERED FOR

52220SIC 52220
91020Museum activities
91030Operation of historical sites and buildings and similar visitor attractions

Investor take

Pursue

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

Opportunity 74/100 (strong), bankability 57/100. 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

6 live charges · 5 lenders · oldest 10.8y

35/100

too messy

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

· Oldest live charge is 10.8 years old — likely at or near maturity.
· 5 lenders named — inter-creditor friction likely.
· Legal-friction score 38/100 — workable, but lender will want more DD.

Data confidence

Overall: low (50/100)

Sparse data coverage. Treat AI-generated outputs as preliminary. Manual diligence essential.

Company profile

address, 4 SIC codes, incorporation date

100

Financials

No iXBRL financials extracted

Lenders & charges

6 charges (6/6 with lender, 6/6 with type)

Directors & officers

36 officers (12 active, 36 linked, 31 with DOB)

Ownership & PSC

No PSCs filed (unusual — worth investigating)

Director network

6 connected companies via shared directors

Filing history

112 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

Strong succession / seller-readiness signals.

Risk profile

Some moderate concerns — review flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

Last 90 days

filings

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (90 events)Click to expand

2025-12-05
📄
accounts-with-accounts-type-group
accounts · AA
2025-10-10
📄
replacement-filing-of-director-appointment-with-name
officers · RP01AP01
2025-10-10
📄
replacement-filing-of-director-appointment-with-name
officers · RP01AP01
2025-10-10
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-08
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-07
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-06
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-10-06
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-10-06
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-09-24
➕
CLUFF, Angela appointed
director
2025-09-24
➕
HUDSON, Peter Derek appointed
director
2025-09-24
➕
MONTAGU, Clare appointed
director
2025-09-24
➖
ABRAMSKY, Jennifer Gita, Dame resigned
director
2025-09-24
➖
HOGBEN, Janet resigned
director
2025-09-24
➖
REEVE, Timothy Iain resigned
director
2024-12-24
📄
accounts-with-accounts-type-group
accounts · AA
2024-11-21
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-10-16
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-10-14
➖
ANNETT, Nigel Charles resigned
director
2024-09-25
➕
SONDHI, Ranjit appointed
director
2024-01-03
📄
accounts-with-accounts-type-group
accounts · AA
2023-10-17
📄
memorandum-articles
incorporation · MA
2023-10-17
📄
resolution
resolution · RESOLUTIONS
2023-10-05
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-09-27
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-09-27
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-09-27
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-09-20
➕
BEVAN, James David, Sir appointed
director
2023-09-20
➕
FELLINGHAM, Chris appointed
director
2023-09-20
➖
WHITNEY, Sarah resigned
director
2023-09-20
➖
WILKINSON, Susan Linda resigned
director
2022-12-20
📄
accounts-with-accounts-type-group
accounts · AA
2022-10-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-09-21
➕
KENNEDY, Bronagh appointed
director
2022-09-21
➕
ORR, David Campbell appointed
director
2022-09-21
➕
PETERS, Ian appointed
director
2022-09-21
➖
GORDON, Joseph Benjamin resigned
director
2022-09-21
➖
LEIGHTON, Allan Leslie resigned
director
2020-06-25
🔓
Charge satisfied #5
2020-06-23
🔒
Charge registered #6
Lender: Union Bancaire Privee, Ubp Saunion Bancaire Privee, Ubp Sa
2020-02-21
🔒
Charge registered #5
Lender: Union Bancaire Privee, Ubp Sa
2019-03-25
🔒
Charge registered #4
Lender: The Trustees of the National Heritage Memorial Fund
2019-02-01
🔓
Charge satisfied #3
2018-09-26
➕
PRICE, Clair Jennifer appointed
director
2018-09-26
➖
CHANDE, Manish Jayantilal resigned
director
2018-09-26
➖
DONE, Frances Winifred resigned
director
2018-09-26
➕
WHITNEY, Sarah appointed
director
2018-04-01
➕
DEARDS, Thomas James appointed
secretary
2018-04-01
➖
EASTWOOD, Gill, Dr resigned
secretary
2017-09-21
➕
KELLY, Christopher William, Sir appointed
director

Showing most recent 50 of 90 events

Owner dependency

55/100

Moderate — manageable with handover

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

FACTORS

-11 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 80 — succession pressure is live.

Succession & seller-readiness

60/100

Strong succession signal

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

SIGNALS

primaryFounder aged 70+: Senior director is approximately 80 years old. Natural succession window is now.

Red flags

2 med ·

3 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: ABRAMSKY, Jennifer Gita, Dame resigned 2025-09-24; HOGBEN, Janet resigned 2025-09-24; REEVE, Timothy Iain resigned 2025-09-24

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

🔒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

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.

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Company details

Statusactive

Typeprivate-limited-guarant-nsc-limited-exemption

Incorporated2011-10-12

Jurisdictionengland-wales

Primary SIC36000 — SIC 36000

Registered office

National Waterways Museum Ellesmere Port

South Pier Road

Ellesmere Port

Cheshire

CH65 4FW

England

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2026-10-23

Last: 2025-10-09