BALNAMOON RENEWABLES LIMITED

💤Zombieactive
SC272029 · ltd · incorporated 2004-08-16
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 Dec 2024
Net worth
£201.0k
book net assets
Opportunity
73/100
Strong
🔔
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What this business does
Primary activity: SIC 35110
Sector: Electricity, gas & energy
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

Opportunity 73/100 (strong), bankability 85/100. 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 (58/100).

🏦

Refinance opportunity

3 live charges · 2 lenders · oldest 17.6y

30/100
under pressure

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

  • · Oldest live charge is 17.6 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (81/100)

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
10 officers (1 active, 10 linked, 6 with DOB)
82
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
9 connected companies via shared directors
72
Filing history
99 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
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
77
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 £201,048
Net assets shrinking
Down £71,492 YoY
Cash YoY
-9%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£22k
↓ 9.1% YoY
Net Worth
£201k
↓ 26% YoY
Current Assets
£83k
↓ 17% YoY
Current Liabilities
—
£0£55k£109k£164k£218k£273kDec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-12-312023-12-31
Total assets£334.2k£389.0k
Current assets£83.1k£100.5k
Cash£21.7k£23.8k
Debtors£61.4k£76.6k
Net assets£201.0k£272.5k

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
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (47 events)Click to expand
  1. 2025-09-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-09-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-09-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC05
  4. 2024-07-02
    📄
    change-person-director-company-with-change-date
    officers · CH01
  5. 2024-06-21
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  6. 2023-08-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2023-05-24
    📄
    change-person-director-company-with-change-date
    officers · CH01
  8. 2022-11-18
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  9. 2022-07-21
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  10. 2022-07-21
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  11. 2022-07-21
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  12. 2022-07-21
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  13. 2022-07-19
    📄
    change-person-director-company-with-change-date
    officers · CH01
  14. 2022-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  15. 2022-07-05
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  16. 2022-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  17. 2022-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  18. 2022-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  19. 2022-07-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  20. 2022-07-05
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  21. 2022-07-01
    ➕
    ORR, Charles James Robert appointed
    director
  22. 2022-07-01
    ➖
    JOHNSTON, Michael resigned
    secretary
  23. 2022-07-01
    ➖
    GAULD, Richard resigned
    director
  24. 2022-07-01
    ➖
    HEDDLE, Derek Alexander resigned
    director
  25. 2022-07-01
    ➖
    HEDDLE, James Ian resigned
    director
  26. 2022-07-01
    ➖
    JOHNSTON, Marja Pauliina resigned
    director
  27. 2022-07-01
    ➖
    JOHNSTON, Michael resigned
    director
  28. 2022-06-09
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  29. 2022-06-09
    🔓
    Charge satisfied #3
  30. 2022-05-06
    🔓
    Charge satisfied #2
  31. 2022-05-06
    🔓
    Charge satisfied #1
  32. 2015-02-26
    🔒
    Charge registered #3
    Lender: Bank of Scotland PLC
  33. 2009-01-01
    ➕
    HEDDLE, Derek Alexander appointed
    director
  34. 2009-01-01
    ➕
    HEDDLE, James Ian appointed
    director
  35. 2008-10-16
    🔒
    Charge registered #2
    Lender: The Co-Operative Bank PLC
  36. 2008-09-26
    🔒
    Charge registered #1
    Lender: The Co-Operative Bank PLC
  37. 2006-11-03
    ➕
    JOHNSTON, Michael appointed
    secretary
  38. 2006-11-03
    ➖
    MYLES, Robert Ritchie resigned
    secretary
  39. 2004-09-07
    ➕
    MYLES, Robert Ritchie appointed
    secretary
  40. 2004-09-07
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary
  41. 2004-09-07
    ➕
    GAULD, Richard appointed
    director
  42. 2004-09-07
    ➕
    JOHNSTON, Marja Pauliina appointed
    director
  43. 2004-09-07
    ➕
    JOHNSTON, Michael appointed
    director
  44. 2004-09-07
    ➖
    JORDANS (SCOTLAND) LIMITED resigned
    corporate-nominee-director
  45. 2004-08-16
    🏢
    Company incorporated
    As BALNAMOON RENEWABLES LIMITED
  46. 2004-08-16
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  47. 2004-08-16
    ➕
    JORDANS (SCOTLAND) LIMITED appointed
    corporate-nominee-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

55/100
Strong succession signal

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

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondaryStable-but-static management: Company is 22 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 med ·
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.

Group structure

Fuse Energy Supply Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Fuse Energy Supply Limited
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
BALNAMOON RENEWABLES LIMITED
This company · SC272029

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
Fuse Energy Supply Limited
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control01/07/2022
2 historic (ceased) PSCs
  • Mr Derek Alexander Heddleceased 01/07/2022· 25-50% shares · 25-50% voting
  • Mr James Ian Heddleceased 01/07/2022· 25-50% shares · 25-50% 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
Incorporated2004-08-16
Jurisdictionscotland
Primary SIC35110 — SIC 35110

Registered office

9 Newton Place Office 1, Technology House
9 Newton Place
Glasgow
G3 7PR
Scotland

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-08-30
Last: 2025-08-16

Officers (1 active · 9 resigned)

ORR, Charles James Robert→
director · ~30y · appointed 2022-07-01
View their other companies + combined net worth →
Active
JOHNSTON, Michael→
secretary · appointed 2006-11-03 · resigned 2022-07-01
Resigned
MYLES, Robert Ritchie→
secretary · appointed 2004-09-07 · resigned 2006-11-03
Resigned
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 2004-08-16 · resigned 2004-09-07
Resigned
GAULD, Richard→
director · ~66y · appointed 2004-09-07 · resigned 2022-07-01
Resigned
HEDDLE, Derek Alexander→
director · ~56y · appointed 2009-01-01 · resigned 2022-07-01
Resigned
HEDDLE, James Ian→
director · ~80y · appointed 2009-01-01 · resigned 2022-07-01
Resigned
JOHNSTON, Marja Pauliina→
director · ~61y · appointed 2004-09-07 · resigned 2022-07-01
Resigned
JOHNSTON, Michael→
director · ~68y · appointed 2004-09-07 · resigned 2022-07-01
Resigned
JORDANS (SCOTLAND) LIMITED→
corporate-nominee-director · appointed 2004-08-16 · resigned 2004-09-07
Resigned

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

Mortgages & charges

3
Total charges
0
Outstanding
0
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
satisfied
Lloyds Banking Group
Bank of Scotland PLC
A registered charge—26/02/201509/06/2022
satisfied
Co-operative Bank
The Co-Operative Bank PLC
Standard security2 properties16/10/200806/05/2022
satisfied
Co-operative Bank
The Co-Operative Bank PLC
Bond & floating charge1 property26/09/200806/05/2022

Recent filings (99 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-09-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-09-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-10
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2024-09-10
change-person-director-company-with-change-date
officers · CH01
2024-07-02
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-06-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-31
confirmation-statement-with-updates
confirmation-statement · CS01
2023-08-24
change-person-director-company-with-change-date
officers · CH01
2023-05-24
change-account-reference-date-company-current-extended
accounts · AA01
2022-11-18
confirmation-statement-with-updates
confirmation-statement · CS01
2022-08-22
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-07-21
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-07-21
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-07-21