WILLIAM REE & PARTNERS LIMITED

💤Zombieactive
SC250440 · ltd · incorporated 2003-06-02
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 Sept 2024
Net worth
£42.1k
book net assets
Opportunity
75/100
Strong
🔔
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What this business does
Primary activity: Plumbing, heat and air-conditioning installation
Sector: Construction
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 75/100 (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: Cash flow review and working-capital discipline. Cash down -91% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 22.7y

30/100
under pressure

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

  • · Oldest live charge is 22.7 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (77/100)

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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
6 officers (1 active, 6 linked, 4 with DOB)
83
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
61 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £42,102
Cash draining
Cash down 91% YoY
Cash YoY
-91%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£3k
↓ 91% YoY
Net Worth
£42k
↑ 31% YoY
Current Assets
£86k
↑ 6.6% YoY
Current Liabilities
—
£0£17k£35k£52k£69k£86kSept 2023Sept 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-09-302023-09-30
Total assets£54.5k£51.9k
Current assets£86.5k£81.1k
Cash£2.6k£28.6k
Net assets£42.1k£32.2k

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

🔒Filing-note intelligence

1 signal 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 confirmation-statement
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (30 events)Click to expand
  1. 2025-06-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-04-02
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  3. 2025-04-01
    ➖
    HAMILTON, Elaine resigned
    director
  4. 2024-04-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2024-01-08
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  6. 2024-01-08
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  7. 2024-01-08
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  8. 2024-01-08
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  9. 2024-01-08
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  10. 2023-12-14
    ➕
    CULLEN, Chris appointed
    director
  11. 2023-12-14
    ➖
    ADDYMAN, Anthony resigned
    director
  12. 2023-12-14
    ➕
    HAMILTON, Elaine appointed
    director
  13. 2023-05-15
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2022-06-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2021-06-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2020-06-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2019-06-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2018-06-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2017-06-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2014-03-07
    ➖
    ADDYMAN, Lorraine resigned
    secretary
  21. 2014-03-07
    ➖
    ADDYMAN, Lorraine resigned
    director
  22. 2009-02-12
    🔓
    Charge satisfied #1
  23. 2008-12-12
    🔒
    Charge registered #2
    Lender: Royal Bank of Scotland PLC
  24. 2003-09-30
    🔒
    Charge registered #1
    Lender: Clydesdale Bank Public Limited Company
  25. 2003-06-02
    🏢
    Company incorporated
    As WILLIAM REE & PARTNERS LIMITED
  26. 2003-06-02
    ➕
    ADDYMAN, Lorraine appointed
    secretary
  27. 2003-06-02
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  28. 2003-06-02
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary
  29. 2003-06-02
    ➕
    ADDYMAN, Anthony appointed
    director
  30. 2003-06-02
    ➕
    ADDYMAN, Lorraine appointed
    director

Owner dependency

75/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

45/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • 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

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

🏛️
Pitkerro Holdings Limited
Corporate parent · holds 75-100% shares
ultimate parent
⬇
WILLIAM REE & PARTNERS LIMITED
This company · SC250440

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
Pitkerro Holdings Limited
Corporate entity
75–100%
75–100%75-100% shares · 75-100% voting14/12/2023
1 historic (ceased) PSC
  • Mr Anthony Addymanceased 14/12/2023· 75-100% shares · 75-100% voting · board control

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

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——1600012y8458y
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——3429y8463y
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£1.52M
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——5742y8779y
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£634.1k
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——110011y8575y
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——£1.45M—55y8360y
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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
Incorporated2003-06-02
Jurisdictionscotland
Primary SIC43220 — Plumbing, heat and air-conditioning installation

Registered office

329a Brook Street
Broughty Ferry
Dundee
DD5 2DS

Filing status

Accounts
Next due: 2026-06-30
Last made up to: 2024-09-30
Confirmation statement
Next due: 2027-04-16
Last: 2026-04-02

Officers (1 active · 5 resigned)

CULLEN, Chris→
director · ~44y · appointed 2023-12-14
View their other companies + combined net worth →
Active
ADDYMAN, Lorraine→
secretary · appointed 2003-06-02 · resigned 2014-03-07
Resigned
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 2003-06-02 · resigned 2003-06-02
Resigned
ADDYMAN, Anthony→
director · ~73y · appointed 2003-06-02 · resigned 2023-12-14
Resigned
ADDYMAN, Lorraine→
director · ~60y · appointed 2003-06-02 · resigned 2014-03-07
Resigned
HAMILTON, Elaine→
director · ~47y · appointed 2023-12-14 · resigned 2025-04-01
Resigned

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

Mortgages & charges

2
Total charges
1
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
Lloyds Banking Group
Royal Bank of Scotland PLC
Floating charge1 property12/12/2008—
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Floating charge1 property30/09/200312/02/2009
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (61 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-05-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-06-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-02
termination-director-company-with-name-termination-date
officers · TM01
2025-04-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-04-16
confirmation-statement-with-updates
confirmation-statement · CS01
2024-04-12
appoint-person-director-company-with-name-date
officers · AP01
2024-01-08
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2024-01-08
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-01-08
appoint-person-director-company-with-name-date
officers · AP01
2024-01-08
termination-director-company-with-name-termination-date
officers · TM01
2024-01-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-06-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-06-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-16