HEART OF MIDLOTHIAN PLC

🌳Matureactive

SC005863 · plc · incorporated 1905-04-29

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

—

not disclosed

Net worth

—

book net assets

Opportunity

66/100

Strong

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What this business does

Primary activity: Activities of sport clubs

Sector: Arts, entertainment & recreation

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 66/100 (strong), bankability 27/100. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 14 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: asset disposal / carve-out (45/100).

🏦

Refinance opportunity

22 live charges · 14 lenders · oldest 58.1y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 58.1 years old — likely at or near maturity.
· 14 lenders named — inter-creditor friction likely.
· Legal-friction score 73/100 (specialist).

Data confidence

Overall: medium (55/100)

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

No iXBRL financials extracted

Lenders & charges

22 charges (22/22 with lender, 22/22 with type)

Directors & officers

56 officers (9 active, 56 linked, 49 with DOB)

Ownership & PSC

2 active PSC(s) of 3 total, 3 with control declared

Director network

Network not yet resolved

Filing history

336 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

66/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Some moderate concerns — review flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

Last 90 days

filings

Last 180 days

filings

• 5 officers
• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (160 events)Click to expand

2025-12-10
📄
accounts-with-accounts-type-full
accounts · AA
2025-12-08
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-12-04
➕
FINDLAY, Ralph Graham appointed
director
2025-12-04
➕
PATERSON, Calum Macdonald appointed
director
2025-12-04
➖
BUDGE, Ann Cochrane Cook Wallace resigned
director
2025-12-04
➖
WINDRAM, Kevin Douglas resigned
director
2025-12-04
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-12-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-11-04
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-31
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2025-10-31
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-07-07
📄
memorandum-articles
incorporation · MA
2025-07-07
📄
resolution
resolution · RESOLUTIONS
2025-07-04
📄
capital-allotment-shares
capital · SH01
2025-07-01
➕
FORBES, Euan appointed
secretary
2025-07-01
➕
FORBES, Euan appointed
director
2025-07-01
➖
DUNCAN, Jacqueline resigned
secretary
2025-07-01
➖
DUNCAN, Jacqueline resigned
director
2025-07-01
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2025-07-01
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-07-01
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-07-01
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2025-06-24
➕
FRANKS, James Alan appointed
director
2025-01-08
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-01-07
➕
HAMMOND, Claire appointed
director
2024-12-11
📄
accounts-with-accounts-type-full
accounts · AA
2024-12-08
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-12-04
➖
BROWN, Andrew Mearns resigned
director
2023-12-15
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-12-15
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-12-14
➕
BROWN, Andrew Mearns appointed
director
2023-12-14
➖
CUMMING, Donald Ian resigned
director
2023-11-30
📄
accounts-with-accounts-type-full
accounts · AA
2022-06-01
➕
MALLON, Gerard Martin appointed
director
2022-05-31
➖
WALLACE, Stuart Robert resigned
director
2021-07-01
➕
ANDERSON, James Kennedy appointed
director
2020-12-17
➖
HOGG, Thomas Eric resigned
director
2020-08-17
➕
MCKINLAY, Andrew John appointed
director
2019-10-31
➖
LEVEIN, Craig William resigned
director
2017-07-01
➕
DUNCAN, Jacqueline appointed
director
2017-02-03
➕
WALLACE, Stuart Robert appointed
director
2016-12-06
➖
CORMACK, Brian Robert resigned
director
2015-07-01
➕
CUMMING, Donald Ian appointed
director
2015-06-30
➖
MURRAY, Ian resigned
director
2015-05-12
➕
CORMACK, Brian Robert appointed
director
2015-01-30
➖
WILSON, Robert resigned
director
2014-10-02
➕
DUNCAN, Jacqueline appointed
secretary
2014-10-02
➕
LEVEIN, Craig William appointed
director
2014-10-02
➕
WINDRAM, Kevin Douglas appointed
director

Showing most recent 50 of 160 events

Owner dependency

55/100

Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS

-8 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 67 — succession pressure is live.

Succession & seller-readiness

50/100

Moderate signal

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 67. Approaching typical UK retirement age — succession thinking likely.

Red flags

3 med ·

Has insolvency history

medium

Companies House flags prior insolvency events. Review the insolvency filings for context.

4 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: DUNCAN, Jacqueline resigned 2025-07-01; BUDGE, Ann Cochrane Cook Wallace resigned 2025-12-04; DUNCAN, Jacqueline resigned 2025-07-01

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

Foundation Of Hearts Limited holds majority control (50-75%). Likely parent but not wholly-owned.

🏛️

Foundation Of Hearts Limited

Corporate parent · holds 50-75% shares

majority

⬇

HEART OF MIDLOTHIAN PLC

This company · SC005863

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Foundation Of Hearts Limited Corporate entity	50–75%	75–100%	75-100% shares · 75-100% voting	30/08/2021
Mr Anthony Grant Bloom Individual · British · DOB 03/1970 · age 56	25–50%	—	25-50% shares	24/06/2025

1 historic (ceased) PSC

Bidco (1874) Limitedceased 30/08/2021· 75-100% shares

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

Similar companies

Active · Leisure & entertainment · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
LES JOLY DAMES LTD→ SC649774 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
LINKTOURS SCOTLAND LTD→ SC772699 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
LINLITHGOW RUGBY CLUB LTD→ SC532598 · est 2016 · no financials extracted	—	—	—	—	10y	—	—
LIVINGSTON FOOTBALL CLUB LIMITED→ SC142420 · est 1993 · no financials extracted	—	—	—	—	33y	—	—
LOCH LOMOND LEISURE (SCOTLAND) LTD.→ SC219990 · est 2001 · no financials extracted	—	—	—	—	24y	—	—
LOTHIAN GYMNASTICS LIMITED→ SC456556 · est 2013 · no financials extracted	—	—	—	—	12y	—	—
LR TRAVEL LTD→ SC775763 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
LSOLTESTENNIS LTD→ SC788908 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
MAB BOOKMAKERS LIMITED→ SC410118 · est 2011 · no financials extracted	—	—	—	—	14y	—	—
MACASTORY→ SC394949 · est 2011 · no financials extracted	—	—	—	—	15y	—	—
MACFIE HALL COMMITTEE→ SC392321 · est 2011 · no financials extracted	—	—	—	—	15y	—	—
MAGNA WORLD TRAVEL LIMITED→ SC880218 · est 2026 · no financials extracted	—	—	—	—	—	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

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9 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.

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Company details

Statusactive

Typeplc

Incorporated1905-04-29

Jurisdictionscotland

Primary SIC93120 — Activities of sport clubs

Registered office

Collins House

Rutland Square

Edinburgh

Midlothian

EH1 2AA

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-06-30

Confirmation statement

Next due: 2026-12-23

Last: 2025-12-09