PITLOCHRY FESTIVAL THEATRE

🌳Matureactive

SC029243 · private-limited-guarant-nsc · incorporated 1953-01-20

Investment thesis

Looks cheap but ownership + security both unclear — probable value trap.

Why interesting: Headline metrics may be attractive.

Why risky: No PSC visibility combined with multiple live charges; transacting likely slow and expensive.

Why now

Window steady · low confidence

Stable recent picture — watch for any upcoming trigger event.

What changed my view

Last 30 days

No material changes in the last 30 days.

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

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

74/100

Strong

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What this business does

Primary activity: Licenced restaurants

Sector: Accommodation & food service

ALSO REGISTERED FOR

90030Artistic creation

Investor take

Pursue

Active trading company with a 71-year-old founder — textbook succession opportunity.

Opportunity 74/100 (strong), bankability 67/100. Strong seller-intent signal (63/100, director aged 71). Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (45/100).

🏦

Refinance opportunity

8 live charges · 5 lenders · oldest 46.0y

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 46.0 years old — likely at or near maturity.
· 5 lenders named — inter-creditor friction likely.
· Legal-friction score 48/100 (high).

Data confidence

Overall: low (51/100)

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

Company profile

address, 2 SIC codes, incorporation date

100

Financials

No iXBRL financials extracted

Lenders & charges

8 charges (8/8 with lender, 8/8 with type)

Directors & officers

80 officers (13 active, 80 linked, 79 with DOB)

Ownership & PSC

No PSCs filed (unusual — worth investigating)

Director network

5 connected companies via shared directors

Filing history

293 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

74/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

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

• 2 officers

Last 180 days

filings

• 8 officers

Counts from Companies House filing history.

Corporate timeline (168 events)Click to expand

2026-03-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-03-06
➕
BENJAMIN, Diane Susan appointed
director
2026-03-05
➖
GILLIES, Crawford Scott resigned
director
2026-03-05
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-01-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-01-05
➕
CAMERON, Douglas Hutton appointed
director
2026-01-05
➖
BRYCE, Kris resigned
director
2026-01-05
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-01-05
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-23
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-12-10
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-10
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-05
➕
JACK-HOOIJENGA, Lorna Burn appointed
director
2025-12-05
➕
MIELL, Dorothy Evelyn, Professor appointed
director
2025-12-05
➖
BROWN, Malcolm Robert Fleming resigned
director
2025-12-05
➖
DOUGLAS, William Gavin resigned
director
2025-10-21
📄
accounts-with-accounts-type-group
accounts · AA
2025-01-06
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-01-01
➕
BRYCE, Kris appointed
director
2024-12-12
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-12-12
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-12-12
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-12-12
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-12-09
➕
BAILEY, Stephen Mark appointed
director
2024-12-09
➕
WARING, Nicholas Charles appointed
director
2024-12-06
➖
GORDON, Georgina Emma resigned
director
2024-12-06
➖
STUART, Heather Christine resigned
director
2024-12-02
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2024-11-30
➖
J & H MITCHELL WS resigned
corporate-secretary
2024-11-11
📄
memorandum-articles
incorporation · MA
2024-11-11
📄
resolution
resolution · RESOLUTIONS
2024-10-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-10-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-10-01
➕
ROXBURGH, Caroline appointed
director
2024-10-01
➕
TILLEY, Helen Catrin appointed
director
2024-08-27
📄
accounts-with-accounts-type-group
accounts · AA
2024-01-03
📄
accounts-with-accounts-type-group
accounts · AA
2023-05-09
📄
change-person-director-company-with-change-date
officers · CH01
2023-03-04
➖
ROBERTSON, Bryan Edward resigned
director
2023-02-01
➕
GARNISH, Robert Andrew James appointed
director
2023-02-01
➕
HEPPEL, Catriona Ann appointed
director
2023-02-01
➕
ROBERTSON, Bryan Edward appointed
director
2022-12-08
➖
LOVE, Gary resigned
director
2022-09-08
➖
PALLIN, Gail Anne resigned
director
2022-05-20
➖
LIDDELL, Andrew Colin Macduff resigned
director
2021-11-08
➖
DALE, Michael Delanoy resigned
director
2021-11-08
➖
HOWIE, Kathleen Marion resigned
director
2021-09-01
➕
MARTIN, Helen Jane appointed
director
2021-09-01
➕
WILSON, Jane Deborah appointed
director
2021-08-23
➖
MARTIN, Helen Jane resigned
director

Showing most recent 50 of 168 events

Owner dependency

55/100

Moderate — manageable with handover

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

FACTORS

-13 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 71 — succession pressure is live.

Succession & seller-readiness

60/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

primaryFounder aged 70+: Senior director is approximately 71 years old. Natural succession window is now.

Red flags

2 med ·

4 director resignations in last 12 months

medium

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

Evidence: BROWN, Malcolm Robert Fleming resigned 2025-12-05; BRYCE, Kris resigned 2026-01-05; DOUGLAS, William Gavin resigned 2025-12-05

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.

🔒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

7 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.

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Company details

Statusactive

Typeprivate-limited-guarant-nsc

Incorporated1953-01-20

Jurisdictionscotland

Primary SIC56101 — Licenced restaurants

Registered office

Pitlochry Festival Theatre

Port-Na-Craig

Pitlochry

Perthshire

PH16 5DR

Scotland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2026-09-06

Last: 2025-08-23