HEART OF MIDLOTHIAN PLC

💤Zombieactive
SC005863 · plc · incorporated 1905-04-29
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.
Why now
Window steady · high confidence
Thesis has shifted recently — watch for confirmation.
  • · Lifecycle stage: mature → zombie
  • · Investment thesis: unclassified → zombie_hold
  • · Bankability: 27 → 45
  • · Opportunity score: 66 → 61
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
  • · Lifecycle stage drifting downward
  • · Currently "zombie"
What changed my view
Last 30 days

Mixed signals in the last 30 days — 3 improved, 3 worsened.

  • ↓Lifecycle stage: mature → zombie
  • ·Investment thesis: unclassified → zombie_hold
  • ↓Opportunity score: 66 → 61
  • ↑Hygiene score: 75 → 80
  • ↑Bankability: 27 → 45
  • +5 more
Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
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Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
61/100
Worth a look
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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 61/100 (worth a look), bankability 45/100. Most likely exit: strategic trade sale (45/100).

Data confidence

Overall: low (25/100)

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
No charge records returned
50
Directors & officers
No officers data
0
Ownership & PSC
No PSC data returned
40
Director network
Network not yet resolved
30
Filing history
No filing history
0
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
61/100Worth a look
PassWatchWorth a lookStrongExceptional 

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

Business quality
50
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
70
Good data coverage for analysis.
Corporate timeline (1 events)Click to expand
  1. 1905-04-29
    🏢
    Company incorporated
    As HEART OF MIDLOTHIAN PLC

Owner dependency

55/100
Moderate — manageable with handover

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

FACTORS
  • +No director turnover: Company is 121 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

30/100
Weak signal

Limited succession signal. Not a near-term off-market candidate.

Red flags

1 med ·
Has insolvency history
medium

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

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