HOT SPRING PORTABLE SPAS (SCOTLAND) LIMITED

💤Zombieactive
SC148582 · ltd · incorporated 1994-01-24
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.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
What changed my view
Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jan 2025
Net worth
£3.0k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Non-trading company
Sector: Professional, scientific & technical
Investor take
Pursue
Dormant / non-trading with a 65-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (83/100, director aged 65). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 31.9y

45/100
under pressure

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

  • · Oldest live charge is 31.9 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (76/100)

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
5 officers (2 active, 5 linked, 1 with DOB)
74
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
85 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
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 £3,043

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£3k
~ YoY
Current Assets
—
Current Liabilities
—
£0£609£1k£2k£2k£3kJan 2024Jan 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-01-312024-01-31
Total assets£42.5k£42.5k
Net assets£3.0k£3.0k

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

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (27 events)Click to expand
  1. 2025-10-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-10-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-12-05
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2022-10-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2022-04-13
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  6. 2022-04-12
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  7. 2021-11-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-01-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2019-07-10
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  10. 2019-07-02
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  11. 2019-05-14
    📄
    dissolved-compulsory-strike-off-suspended
    dissolution · DISS16(SOAS)
  12. 2019-04-16
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  13. 2019-02-09
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  14. 2019-02-09
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  15. 2019-02-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2019-02-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2019-01-08
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  18. 1995-07-01
    ➕
    BADENOCH, Alastair Gerrard appointed
    secretary
  19. 1995-07-01
    ➖
    LOGAN, Caroline resigned
    secretary
  20. 1994-07-01
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  21. 1994-01-31
    ➕
    WATSON, John Knox appointed
    director
  22. 1994-01-31
    ➕
    LOGAN, Caroline appointed
    secretary
  23. 1994-01-31
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary
  24. 1994-01-31
    ➖
    JORDANS (SCOTLAND) LIMITED resigned
    corporate-nominee-director
  25. 1994-01-24
    🏢
    Company incorporated
    As HOT SPRING PORTABLE SPAS (SCOTLAND) LIMITED
  26. 1994-01-24
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  27. 1994-01-24
    ➕
    JORDANS (SCOTLAND) LIMITED appointed
    corporate-nominee-director

Owner dependency

100/100
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 32 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 65 — succession pressure is live.

Succession & seller-readiness

95/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 65. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 32 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 32 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.)

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr John Knox Watson
Individual · British · DOB 08/1961 · age 65
75–100%
—75-100% shares06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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.

See pricing →

Company details

Statusactive
Typeltd
Incorporated1994-01-24
Jurisdictionscotland
Primary SIC74990 — Non-trading company

Registered office

Cockrigg Cottage
Glenbrook
Balerno
EH14 7JE
Scotland

Filing status

Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2027-02-07
Last: 2026-01-24

Officers (2 active · 3 resigned)

BADENOCH, Alastair Gerrard→
secretary · appointed 1995-07-01
View their other companies + combined net worth →
Active
WATSON, John Knox→
director · ~65y · appointed 1994-01-31
View their other companies + combined net worth →
Active
LOGAN, Caroline→
secretary · appointed 1994-01-31 · resigned 1995-07-01
Resigned
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 1994-01-24 · resigned 1994-01-31
Resigned
JORDANS (SCOTLAND) LIMITED→
corporate-nominee-director · appointed 1994-01-24 · resigned 1994-01-31
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 Governor and Company of the Bank of Scotland
Bond & floating charge1 property01/07/1994—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (85 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-02-07
accounts-with-accounts-type-micro-entity
accounts · AA
2025-10-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-13
accounts-with-accounts-type-micro-entity
accounts · AA
2024-10-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-24
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-26
accounts-with-accounts-type-micro-entity
accounts · AA
2022-10-31
gazette-filings-brought-up-to-date
gazette · DISS40
2022-04-13
gazette-notice-compulsory
gazette · GAZ1
2022-04-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-04-11
accounts-with-accounts-type-micro-entity
accounts · AA
2021-11-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-04-26
accounts-with-accounts-type-micro-entity
accounts · AA
2021-01-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-02-04