JOHN TULLOCH (SHETLAND PRODUCTS) LIMITED

🌳Matureactive
SC026382 · ltd · incorporated 1948-06-08
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Apr 2025
Net worth
£1.58M
book net assets
Opportunity
78/100
Strong
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What this business does
Primary activity: Non-specialised wholesale of food, beverages and tobacco
Sector: Wholesale & retail
Investor take
Pursue
Asset-holding vehicle with a 63-year-old founder — textbook succession opportunity.

Opportunity 78/100 (strong), bankability 77/100. Strong seller-intent signal (65/100, director aged 63). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

7 live charges · 3 lenders · oldest 53.2y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 53.2 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: high (80/100)

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
7 charges (6/7 with lender, 7/7 with type)
88
Directors & officers
7 officers (2 active, 7 linked, 5 with DOB)
84
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
113 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
75
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 · accounting standard not declared
Positive net assets
Net assets £1,579,465
Cash YoY
-4%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£540k
↓ 4.5% YoY
Net Worth
£1.6m
↑ 1.6% YoY
Current Assets
£1.8m
↑ 3.2% YoY
Current Liabilities
—
£0£354k£709k£1.1m£1.4m£1.8mApr 2024Apr 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-04-302024-04-30
Total assets£1.60M£1.58M
Current assets£1.77M£1.72M
Cash£539.5k£564.8k
Debtors£710.0k£664.6k
Net assets£1.58M£1.55M

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

1 signal 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
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (39 events)Click to expand
  1. 2025-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-01-27
    📄
    change-person-director-company-with-change-date
    officers · CH01
  3. 2025-01-27
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2024-10-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2024-01-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2024-01-12
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  7. 2024-01-12
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  8. 2023-01-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2021-11-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-10-13
    📄
    change-person-director-company-with-change-date
    officers · CH01
  11. 2021-03-04
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  12. 2021-02-20
    ➖
    TULLOCH, Andrew Thomas Hawick resigned
    director
  13. 2020-11-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2019-11-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2018-12-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2017-12-06
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2017-01-16
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  18. 2016-04-23
    🔓
    Charge satisfied #5
  19. 2016-04-23
    🔓
    Charge satisfied #2
  20. 2015-07-29
    🔓
    Charge satisfied #11
  21. 2015-06-12
    🔓
    Charge satisfied #8
  22. 2015-05-14
    🔓
    Charge satisfied #10
  23. 2015-05-14
    🔓
    Charge satisfied #6
  24. 2015-04-09
    🔓
    Charge satisfied #3
  25. 2013-01-01
    ➕
    BOULTON, Robert William appointed
    director
  26. 2012-05-08
    ➕
    CROSS, Carl appointed
    director
  27. 2012-05-08
    ➖
    TULLOCH, Andrew Thomas Hawick resigned
    secretary
  28. 2012-05-08
    ➖
    TULLOCH, Andrew Fraser resigned
    director
  29. 1994-08-29
    🔒
    Charge registered #11
    Lender: Shetland Islands Council as Trustee
  30. 1994-08-26
    🔒
    Charge registered #10
    Lender: Shetland Islands Council as Trustees of the High Risk/Unsecured Loan Scheme
  31. 1994-02-10
    🔒
    Charge registered #8
    Lender: The Governor and Company of the Bank of Scotland
  32. 1993-11-11
    ➖
    TULLOCH, John resigned
    director
  33. 1989-09-29
    ➕
    TULLOCH, Andrew Fraser appointed
    director
  34. 1989-04-15
    ➖
    TULLOCH, Elizabeth Mary resigned
    director
  35. 1976-10-29
    🔒
    Charge registered #6
    Lender: The Governor and Company of the Bank of Scotland
  36. 1976-04-28
    🔒
    Charge registered #5
    Lender: The Governor and Company of the Bank of Scotland
  37. 1973-12-11
    🔒
    Charge registered #3
    Standard security
  38. 1973-02-15
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Scotland
  39. 1948-06-08
    🏢
    Company incorporated
    As JOHN TULLOCH (SHETLAND PRODUCTS) LIMITED

Owner dependency

66/100
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.
  • +Senior director age: Director aged approximately 63 — approaching natural succession window.

Succession & seller-readiness

79/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 63. Approaching typical UK retirement age — succession thinking likely.
  • 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 78 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.

Group structure

Hughson Brothers Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Hughson Brothers Ltd
Corporate parent · holds 75-100% shares
ultimate parent
⬇
JOHN TULLOCH (SHETLAND PRODUCTS) LIMITED
This company · SC026382

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%
NameSharesVoting rightsNature of controlNotified
Hughson Brothers Ltd
Corporate entity
75–100%
75–100%75-100% shares · 75-100% voting06/04/2016
Mr Robert William Boulton
Individual · British · DOB 09/1963 · age 63
——sig. influencesignificant influence06/04/2016

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
Incorporated1948-06-08
Jurisdictionscotland
Primary SIC46390 — Non-specialised wholesale of food, beverages and tobacco

Registered office

Gremista Industrial Estate
Lerwick
Shetland
ZE1 0PX

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2027-01-14
Last: 2025-12-31

Officers (2 active · 5 resigned)

BOULTON, Robert William→
director · ~63y · appointed 2013-01-01
View their other companies + combined net worth →
Active
CROSS, Carl→
director · ~58y · appointed 2012-05-08
View their other companies + combined net worth →
Active
TULLOCH, Andrew Thomas Hawick→
secretary · resigned 2012-05-08
Resigned
TULLOCH, Andrew Fraser→
director · ~58y · appointed 1989-09-29 · resigned 2012-05-08
Resigned
TULLOCH, Andrew Thomas Hawick→
director · ~90y · resigned 2021-02-20
Resigned
TULLOCH, Elizabeth Mary→
director · resigned 1989-04-15
Resigned
TULLOCH, John→
director · ~126y · resigned 1993-11-11
Resigned

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

Mortgages & charges

7
Total charges
0
Outstanding
0
Active lenders
Status:Lender:7 of 7 shown
TypeProperties
satisfied
Shetland Islands Council as Trustee
Standard security1 property29/08/199429/07/2015
satisfied
Shetland Islands Council as Trustees of the High Risk/Unsecured Loan Scheme
Floating charge1 property26/08/199414/05/2015
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property10/02/199412/06/2015
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property29/10/197614/05/2015
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Letter of offset1 property28/04/197623/04/2016
satisfied
Unknown
Standard security1 property11/12/197309/04/2015
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Floating charge1 property15/02/197323/04/2016

Recent filings (113 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-30
change-person-director-company-with-change-date
officers · CH01
2025-01-27
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-01-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-26
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2024-01-12
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-01-12
confirmation-statement-with-updates
confirmation-statement · CS01
2024-01-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-01
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-03-01
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-11-02
change-person-director-company-with-change-date
officers · CH01
2021-10-13