BULLREM LIMITED

💤Zombieactive
SC641516 · ltd · incorporated 2019-09-13
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
book net assets
Opportunity
69/100
Strong
🔔
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What this business does
Primary activity: Development of building projects
Sector: Construction
Investor take
Pursue
Active trading company. Reasonable fundamentals — worth a memo before deciding.

Opportunity 69/100 (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 (58/100).

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
Confirmed no charges registered
85
Directors & officers
1 officers (1 active, 1 linked, 1 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
7 connected companies via shared directors
66
Filing history
20 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
69/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
65
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
90
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
Current Assets
Current Liabilities
£0£0£0£0£0£0Dec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-12-312023-12-31

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
0
filings
Counts from Companies House filing history.
Corporate timeline (16 events)Click to expand
  1. 2025-10-01
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  2. 2025-01-08
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  3. 2024-10-05
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  4. 2024-05-15
    ✏️
    certificate-change-of-name-company
    change-of-name · CERTNM
  5. 2023-10-22
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  6. 2023-06-24
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  7. 2022-08-06
    📄
    change-account-reference-date-company-current-extended
    accounts · AA01
  8. 2022-08-05
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  9. 2021-12-02
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  10. 2021-11-30
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  11. 2021-09-01
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  12. 2021-08-31
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  13. 2021-08-10
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  14. 2019-09-13
    🏢
    Company incorporated
    As BULLREM LIMITED
  15. 2019-09-13
    TURNBULL, James Reginald appointed
    director
  16. 2019-09-13
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

80/100
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.
  • +No director turnover: Company is 7 years old with no director changes — suggests a very tight-knit founder team never broadened.

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

1 med ·
Name changed recently
medium

Name changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.

Evidence: 2024-05-15: certificate-change-of-name-company

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr James Reginald Turnbull
Individual · British · DOB 11/1969 · age 57
75100%
75–100%board control75-100% shares · 75-100% voting · board control13/09/2019

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.

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Company details

Statusactive
Typeltd
Incorporated2019-09-13
Jurisdictionscotland
Primary SIC41100 — Development of building projects

Registered office

Suite 75 Stirling Business Centre
Wellgreen
Stirling
FK8 2DZ
Scotland

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-09-26
Last: 2025-09-12

Officers (1 active · 0 resigned)

TURNBULL, James Reginald
director · ~57y · appointed 2019-09-13
View their other companies + combined net worth →
Active

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

Recent filings (20 total)

accounts-with-accounts-type-dormant
accounts · AA
2025-10-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-01
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-01-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-05
accounts-with-accounts-type-dormant
accounts · AA
2024-10-05
certificate-change-of-name-company
change-of-name · CERTNM
2024-05-15
confirmation-statement-with-updates
confirmation-statement · CS01
2023-10-22
accounts-with-accounts-type-dormant
accounts · AA
2023-10-22
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-06-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-09-30
change-account-reference-date-company-current-extended
accounts · AA01
2022-08-06
accounts-with-accounts-type-dormant
accounts · AA
2022-08-05
gazette-filings-brought-up-to-date
gazette · DISS40
2021-12-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-12-01
gazette-notice-compulsory
gazette · GAZ1
2021-11-30