UNDERSHAFT (BOILER) LIMITED

⚰️Wound downdissolved
SC001054 · ltd · incorporated 1881-09-16
Investment thesis
Company dissolved — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 32.6y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
51/100
Worth a look
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What this business does
Primary activity: Non-life insurance
Sector: Financial & insurance
Investor take
Pass (distressed without resilience)
Distressed unclear — structural issues outweigh the discount.

Opportunity 51/100 (worth a look), bankability 55/100. High owner-dependency — earn-out structure likely required for clean transition. Biggest value-creation lever: Resolve: Company dissolved. Company has been dissolved — it no longer legally exists. Any diligence here is historical only. Most likely exit: share sale to pe / searcher (50/100). Current lenders should be on monthly review.

🏦

Refinance opportunity

1 live charge · oldest 32.6y

65/100
clean up first

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

  • · Oldest live charge is 32.6 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Legal-friction score 40/100 — workable, but lender will want more DD.

Data confidence

Overall: low (52/100)

Sparse data coverage. Treat AI-generated outputs as preliminary. Manual diligence essential.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
39 officers (3 active, 39 linked, 33 with DOB)
87
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
11 connected companies via shared directors
78
Filing history
183 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
51/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
10
Concerning — overdue filings or status flags present.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
49
Multiple red flags — proceed with caution.
Signal strength
100
Good data coverage for analysis.

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 (99 events)Click to expand
  1. 2014-05-06
    ⚠️
    gazette-dissolved-liquidation
    gazette · GAZ2
  2. 2014-05-06
    🏁
    Company dissolved
  3. 2014-02-06
    ⚠️
    liquidation-voluntary-return-of-final-meeting-scotland
    insolvency · 4.26(Scot)
  4. 2013-04-10
    📄
    resolution
    resolution · RESOLUTIONS
  5. 2012-12-13
    ✏️
    certificate-change-of-name-company
    change-of-name · CERTNM
  6. 2012-12-04
    📄
    appoint-person-director-company-with-name
    officers · AP01
  7. 2012-12-04
    📄
    appoint-person-director-company-with-name
    officers · AP01
  8. 2012-12-04
    📄
    termination-director-company-with-name
    officers · TM01
  9. 2012-12-04
    📄
    termination-director-company-with-name
    officers · TM01
  10. 2012-11-28
    ➕
    SORRELL, John Patrick appointed
    director
  11. 2012-11-28
    ➕
    SPICKER, Richard Harold appointed
    director
  12. 2012-11-28
    ➖
    ABRAHAMS, Clifford James resigned
    director
  13. 2012-11-28
    ➖
    BURROWS, Jessie Josephine resigned
    director
  14. 2012-11-08
    📄
    capital-statement-capital-company-with-date-currency-figure
    capital · SH19
  15. 2012-11-08
    📄
    legacy
    capital · SH20
  16. 2012-11-08
    ⚠️
    legacy
    insolvency · CAP-SS
  17. 2012-11-08
    📄
    resolution
    resolution · RESOLUTIONS
  18. 2012-11-01
    📄
    legacy
    mortgage · MG02s
  19. 2012-11-01
    🔓
    Charge satisfied #2
  20. 2012-09-19
    📄
    termination-director-company-with-name
    officers · TM01
  21. 2012-09-17
    ➖
    MCMILLAN, David John Ramsay resigned
    director
  22. 2012-08-27
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  23. 2012-07-17
    📄
    accounts-with-accounts-type-full
    accounts · AA
  24. 2012-06-28
    📄
    auditors-resignation-company
    auditors · AUD
  25. 2011-12-22
    📄
    appoint-person-director-company-with-name
    officers · AP01
  26. 2011-12-21
    📄
    termination-director-company-with-name
    officers · TM01
  27. 2011-12-20
    ➕
    BURROWS, Jessie Josephine appointed
    director
  28. 2011-12-20
    ➖
    EGAN, Sean resigned
    director
  29. 2011-10-12
    📄
    statement-of-companys-objects
    change-of-constitution · CC04
  30. 2011-08-16
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  31. 2011-07-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  32. 2010-09-13
    📄
    change-person-director-company-with-change-date
    officers · CH01
  33. 2010-09-06
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  34. 2010-08-05
    📄
    appoint-person-director-company-with-name
    officers · AP01
  35. 2010-07-26
    ➕
    ABRAHAMS, Clifford James appointed
    director
  36. 2010-04-01
    ➕
    EGAN, Sean appointed
    director
  37. 2010-03-31
    ➖
    KITSON, John Robert resigned
    director
  38. 2010-03-31
    ➖
    WATSON, David Kenneth resigned
    director
  39. 2010-02-23
    ➕
    MCMILLAN, David John Ramsay appointed
    director
  40. 2009-12-31
    ➖
    MAYER, Igal Mordeciah resigned
    director
  41. 2009-01-02
    ➖
    MCMILLAN, David John Ramsay resigned
    director
  42. 2009-01-02
    ➕
    WATSON, David Kenneth appointed
    director
  43. 2008-11-04
    ➕
    MCMILLAN, David John Ramsay appointed
    director
  44. 2008-09-04
    ➖
    HUNT, Jacqueline resigned
    director
  45. 2008-09-01
    ➖
    MCMILLAN, David John Ramsay resigned
    director
  46. 2008-08-11
    ➕
    MCMILLAN, David John Ramsay appointed
    director
  47. 2007-09-01
    ➖
    SEATON, John resigned
    director
  48. 2007-08-13
    ➕
    SEATON, John appointed
    director
  49. 2007-07-13
    ➕
    MAYER, Igal Mordeciah appointed
    director
  50. 2007-07-12
    ➕
    SPICKER, Richard Harold appointed
    secretary
Showing most recent 50 of 99 events

Owner dependency

73/100
High — earn-out structure required

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

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder age: Director aged approximately 71 — succession pressure is live.

Succession & seller-readiness

89/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 71 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 14 years.
  • secondaryStable-but-static management: Company is 145 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

2 high ·
Company dissolved
high

Company has been dissolved — it no longer legally exists. Any diligence here is historical only.

Evidence: Dissolved on 2014-05-06

3 insolvency-related filings on record
high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2014-05-06: gazette-dissolved-liquidation; 2014-02-06: liquidation-voluntary-return-of-final-meeting-scotland

🔒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

10 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

Statusdissolved
Typeltd
Incorporated1881-09-16
Jurisdictionscotland
Primary SIC65120 — Non-life insurance

Registered office

Pitheavlis
Perth
PH2 0NH

Filing status

Accounts
Next due: —
Last made up to: 2011-12-31
Confirmation statement
Next due: —
Last: —

Officers (0 active · 36 resigned)

SPICKER, Richard Harold→
secretary · appointed 2007-07-12
View their other companies + combined net worth →
Active
SORRELL, John Patrick→
director · ~69y · appointed 2012-11-28
View their other companies + combined net worth →
Active
SPICKER, Richard Harold→
director · ~71y · appointed 2012-11-28
View their other companies + combined net worth →
Active
CARRICK, William Logan→
secretary · resigned 1993-08-31
Resigned
MCPHERSON, Donald James→
secretary · appointed 1993-09-01 · resigned 1994-03-18
Resigned
WHITAKER, Richard Andrew→
secretary · appointed 1994-03-19 · resigned 1994-12-30
Resigned
WHITE, Philip Martin→
secretary · appointed 1994-12-30 · resigned 1998-11-30
Resigned
AVIVA COMPANY SECRETARIAL SERVICES LIMITED→
corporate-secretary · appointed 1998-12-01 · resigned 2007-07-12
Resigned
ABRAHAMS, Clifford James→
director · ~59y · appointed 2010-07-26 · resigned 2012-11-28
Resigned
BIGGS, Michael Nicholas→
director · ~74y · appointed 2000-11-14 · resigned 2001-03-31
Resigned
BOXALL, James Hewlett→
director · ~89y · appointed 1990-01-01 · resigned 1990-08-24
Resigned
BURROWS, Jessie Josephine→
director · ~58y · appointed 2011-12-20 · resigned 2012-11-28
Resigned
EASTER, Philip Charles→
director · ~73y · appointed 2005-06-09 · resigned 2007-01-01
Resigned
EGAN, Sean→
director · ~70y · appointed 2010-04-01 · resigned 2011-12-20
Resigned
FOUND, Paul Anthony→
director · ~78y · appointed 1998-12-01 · resigned 2000-11-14
Resigned
HODGES, Mark Steven→
director · ~61y · appointed 2001-03-31 · resigned 2006-05-09
Resigned
HUNT, Jacqueline→
director · ~58y · appointed 2007-01-01 · resigned 2008-09-04
Resigned
JACK, William Henderson→
director · ~82y · resigned 1991-12-20
Resigned
KITSON, John Robert→
director · ~66y · appointed 2006-05-09 · resigned 2010-03-31
Resigned
LISTER, Nigel George→
director · ~91y · resigned 1997-12-31
Resigned

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

Mortgages & charges

1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
satisfied
Pool Reinsurance Company
Pool Reinsurance Company Limited
Memorandum of deposit1 property25/10/199301/11/2012

Recent filings (183 total)

gazette-dissolved-liquidation
gazette · GAZ2
2014-05-06
liquidation-voluntary-return-of-final-meeting-scotland
insolvency · 4.26(Scot)
2014-02-06
resolution
resolution · RESOLUTIONS
2013-04-10
certificate-change-of-name-company
change-of-name · CERTNM
2012-12-13
appoint-person-director-company-with-name
officers · AP01
2012-12-04
appoint-person-director-company-with-name
officers · AP01
2012-12-04
termination-director-company-with-name
officers · TM01
2012-12-04
termination-director-company-with-name
officers · TM01
2012-12-04
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2012-11-08
legacy
capital · SH20
2012-11-08
legacy
insolvency · CAP-SS
2012-11-08
resolution
resolution · RESOLUTIONS
2012-11-08
legacy
mortgage · MG02s
2012-11-01
termination-director-company-with-name
officers · TM01
2012-09-19
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2012-08-27