MILLAR TRACTORS LIMITED

🌳Matureactive
NI030423 · ltd · incorporated 1996-02-02
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Feb 2025
Net worth
—
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: SIC 46610
Sector: Wholesale & retail
Investor take
Pursue
Conservative operator with a 62-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 67/100. Strong seller-intent signal (80/100, director aged 62). 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: strategic trade sale (78/100).

🏦

Refinance opportunity

9 live charges · 5 lenders · oldest 29.3y

45/100
clean up first

Refinance viable after a tidy-up — address the highlighted items first.

  • · Oldest live charge is 29.3 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.
  • · Profitable and stable/growing — lender coverage supportable.

Data confidence

Overall: medium (72/100)

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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
9 charges (9/9 with lender, 9/9 with type)
90
Directors & officers
6 officers (3 active, 6 linked, 4 with DOB)
83
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
93 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
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Profitable
Profit before tax £1,181,220

Key financials

1 year extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-02-28
Profit before tax£1.18M
Average employees900

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
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (45 events)Click to expand
  1. 2025-07-08
    📄
    accounts-with-accounts-type-full
    accounts · AA
  2. 2024-09-05
    📄
    accounts-with-accounts-type-full
    accounts · AA
  3. 2023-06-05
    📄
    accounts-with-accounts-type-full
    accounts · AA
  4. 2022-05-27
    📄
    accounts-with-accounts-type-full
    accounts · AA
  5. 2021-11-30
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  6. 2021-11-30
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  7. 2021-11-30
    🔓
    Charge satisfied #4
  8. 2021-11-30
    🔓
    Charge satisfied #3
  9. 2021-11-22
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  10. 2021-11-19
    🔒
    Charge registered #9
    Lender: Northern Bank Limited
  11. 2021-10-27
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  12. 2021-10-27
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2021-10-27
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  14. 2021-10-27
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2021-10-27
    🔓
    Charge satisfied #8
  16. 2021-10-27
    🔓
    Charge satisfied #7
  17. 2021-10-27
    🔓
    Charge satisfied #6
  18. 2021-10-27
    🔓
    Charge satisfied #5
  19. 2021-06-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  20. 2021-05-25
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  21. 2021-05-25
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  22. 2021-05-25
    📄
    appoint-person-secretary-company-with-name-date
    officers · AP03
  23. 2021-05-25
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  24. 2021-02-28
    ➕
    MILLAR, William appointed
    secretary
  25. 2021-02-28
    ➕
    MILLAR, William appointed
    director
  26. 2021-02-28
    ➖
    MILLAR, Mona resigned
    secretary
  27. 2021-02-28
    ➖
    MILLAR, Mona resigned
    director
  28. 2020-11-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  29. 2020-07-15
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  30. 2020-07-08
    🔒
    Charge registered #8
    Lender: Hsbc UK Bank PLC
  31. 2013-06-25
    🔓
    Charge satisfied #1
  32. 2013-06-21
    🔒
    Charge registered #7
    Lender: Hsbc Bank PLC
  33. 2010-09-15
    🔓
    Charge satisfied #2
  34. 2007-03-07
    🔒
    Charge registered #6
    Lender: Hsbc Bank PLC
  35. 2007-01-30
    🔒
    Charge registered #5
    Lender: Hsbc Bank PLC
  36. 2007-01-30
    🔒
    Charge registered #4
    Lender: Hsbc Bank PLC
  37. 2007-01-30
    🔒
    Charge registered #3
    Lender: Hsbc Bank PLC
  38. 2005-10-20
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Ireland
  39. 2002-06-18
    ➕
    MILLAR, Alan appointed
    director
  40. 2002-06-18
    ➖
    MILLAR, William resigned
    director
  41. 1997-01-22
    🔒
    Charge registered #1
    Lender: Bank of Ireland
  42. 1996-02-02
    🏢
    Company incorporated
    As MILLAR TRACTORS LIMITED
  43. 1996-02-02
    ➕
    MILLAR, Mona appointed
    secretary
  44. 1996-02-02
    ➕
    MILLAR, Mona appointed
    director
  45. 1996-02-02
    ➕
    MILLAR, William appointed
    director

Owner dependency

99/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder name in company name: Company name contains director surname "MILLAR" — strong identity link between founder and business.
  • +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 62 — approaching natural succession window.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

76/100
Likely off-market candidate

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 30 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

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.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Alan Millar
Individual · British · DOB 03/1964 · age 62
75–100%
75–100%board control75-100% shares · 75-100% voting · board control06/04/2016

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

6 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
Incorporated1996-02-02
Jurisdictionnorthern-ireland
Primary SIC46610 — SIC 46610

Registered office

23/25 Queen Street
Coleraine
Co Derry
BT52 1BG

Filing status

Accounts
Next due: 2026-11-30
Last made up to: 2025-02-28
Confirmation statement
Next due: 2027-02-12
Last: 2026-01-29

Officers (3 active · 3 resigned)

MILLAR, William→
secretary · appointed 2021-02-28
View their other companies + combined net worth →
Active
MILLAR, Alan→
director · ~62y · appointed 2002-06-18
View their other companies + combined net worth →
Active
MILLAR, William→
director · ~28y · appointed 2021-02-28
View their other companies + combined net worth →
Active
MILLAR, Mona→
secretary · appointed 1996-02-02 · resigned 2021-02-28
Resigned
MILLAR, Mona→
director · ~88y · appointed 1996-02-02 · resigned 2021-02-28
Resigned
MILLAR, William→
director · ~65y · appointed 1996-02-02 · resigned 2002-06-18
Resigned

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

Mortgages & charges

9
Total charges
1
Outstanding
1
Active lenders
Status:Lender:9 of 9 shown
TypeProperties
outstanding
Northern Bank
Northern Bank Limited
A registered charge2 properties19/11/2021—
satisfied
HSBC
Hsbc UK Bank PLC
A registered charge1 property08/07/202027/10/2021
satisfied
HSBC
Hsbc Bank PLC
A registered charge1 property21/06/201327/10/2021
satisfied
HSBC
Hsbc Bank PLC
Mortgage or charge2 properties07/03/200727/10/2021
satisfied
HSBC
Hsbc Bank PLC
Mortgage or charge1 property30/01/200727/10/2021
satisfied
HSBC
Hsbc Bank PLC
Mortgage or charge2 properties30/01/200730/11/2021
satisfied
HSBC
Hsbc Bank PLC
Debenture1 property30/01/200730/11/2021
satisfied
The Governor and Company of the Bank of Ireland
Mortgage or charge2 properties20/10/200515/09/2010
satisfied
Bank of Ireland
Mortgage or charge1 property22/01/199725/06/2013
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (93 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-29
accounts-with-accounts-type-full
accounts · AA
2025-07-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-29
accounts-with-accounts-type-full
accounts · AA
2024-09-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-29
accounts-with-accounts-type-full
accounts · AA
2023-06-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-30
accounts-with-accounts-type-full
accounts · AA
2022-05-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-31
mortgage-satisfy-charge-full
mortgage · MR04
2021-11-30
mortgage-satisfy-charge-full
mortgage · MR04
2021-11-30
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-11-22
mortgage-satisfy-charge-full
mortgage · MR04
2021-10-27
mortgage-satisfy-charge-full
mortgage · MR04
2021-10-27
mortgage-satisfy-charge-full
mortgage · MR04
2021-10-27