WEST HIGHLAND PUBLISHING COMPANY LIMITED

🌳Matureactive
SC049850 · ltd · incorporated 1972-01-24
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.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jan 2025
Net worth
£54.0k
book net assets
Opportunity
73/100
Strong
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What this business does
Primary activity: Publishing of newspapers
Sector: Information & communication
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 73/100 (strong), bankability 57/100. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 11 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: strategic trade sale (48/100).

🏦

Refinance opportunity

18 live charges · 11 lenders · oldest 51.1y

15/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 51.1 years old — likely at or near maturity.
  • · 11 lenders named — inter-creditor friction likely.
  • · Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: medium (72/100)

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
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
18 charges (18/18 with lender, 18/18 with type)
90
Directors & officers
19 officers (4 active, 19 linked, 16 with DOB)
87
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
2 connected companies via shared directors
51
Filing history
165 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
74
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £54,023
Net assets shrinking
Down £45,157 YoY
Cash draining
Cash down 53% YoY
Cash YoY
-53%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£29k
↓ 53% YoY
Net Worth
£54k
↓ 46% YoY
Current Assets
£75k
↓ 32% YoY
Current Liabilities
—
£0£22k£44k£66k£89k£111kJan 2024Jan 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-01-312024-01-31
Total assets£64.3k£119.3k
Current assets£74.9k£110.7k
Cash£28.6k£60.7k
Debtors£44.6k£47.4k
Net assets£54.0k£99.2k

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
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (74 events)Click to expand
  1. 2025-10-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-04-14
    ➕
    FALCONER, Lisa Helen appointed
    director
  3. 2025-04-14
    ➕
    MATHESON, Lucy Eleanor appointed
    director
  4. 2025-04-14
    ➕
    RUSSELL, Michael Francis appointed
    director
  5. 2025-04-14
    ➕
    URQUHART, William Murchison appointed
    director
  6. 2025-04-14
    ➖
    MACKENZIE, Keith resigned
    director
  7. 2025-04-14
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  8. 2025-04-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  9. 2025-04-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2025-04-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  11. 2025-04-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  12. 2024-11-08
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  13. 2024-11-08
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  14. 2024-11-07
    ➖
    WOOD, Paul Christopher resigned
    director
  15. 2024-11-07
    ➖
    YOUNG, Lesley resigned
    director
  16. 2024-10-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2023-10-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2022-10-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2021-10-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2021-01-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2020-02-13
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  22. 2020-01-31
    ➖
    MCCORMACK, Ian Andrew resigned
    director
  23. 2019-10-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  24. 2018-07-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  25. 2016-02-04
    🔓
    Charge satisfied #19
  26. 2016-02-04
    🔓
    Charge satisfied #13
  27. 2015-11-04
    ➖
    BRUCE, James Adam resigned
    director
  28. 2009-12-11
    🔓
    Charge satisfied #15
  29. 2009-12-11
    🔓
    Charge satisfied #14
  30. 2009-11-27
    🔓
    Charge satisfied #12
  31. 2009-11-26
    🔒
    Charge registered #19
    Lender: Industrial Common Ownership Fund PLC
  32. 2009-11-26
    🔒
    Charge registered #18
    Lender: The Co-Operative Loan Fund Limited
  33. 2009-11-16
    🔒
    Charge registered #17
    Lender: Baxi Partnership Limited
  34. 2009-10-27
    ➖
    WOOD, Paul Christopher resigned
    secretary
  35. 2009-10-27
    ➖
    INNES, James Marquis resigned
    director
  36. 2009-10-27
    ➕
    MACKENZIE, Keith appointed
    director
  37. 2009-10-27
    ➖
    WILKIE, James Seath resigned
    director
  38. 2009-10-27
    ➖
    WILSON, Brian David Henderson, Rt Hon resigned
    director
  39. 2009-10-27
    ➕
    WOOD, Paul Christopher appointed
    director
  40. 2009-10-27
    ➕
    YOUNG, Lesley appointed
    director
  41. 2009-10-27
    🔒
    Charge registered #16
    Lender: Co-Operative Loan Fund Limited
  42. 2009-10-27
    🔒
    Charge registered #15
    Lender: Co-0PERATIVE Loan Fund Limited
  43. 2009-10-27
    🔒
    Charge registered #14
    Lender: Industrial Common Ownership Fund PLC
  44. 2009-10-27
    🔒
    Charge registered #13
    Lender: Industrial Common Ownership Fund PLC
  45. 2009-10-27
    🔒
    Charge registered #12
    Lender: Baxi Partnership Limited
  46. 2009-10-27
    🔒
    Charge registered #11
    Lender: Baxi Partnership Limited
  47. 2007-06-15
    🔒
    Charge registered #10
    Lender: The Governor and Company of the Bank of Scotland
  48. 2007-03-30
    ➕
    WILSON, Brian David Henderson, Rt Hon appointed
    director
  49. 2003-03-06
    🔒
    Charge registered #9
    Lender: The Governor and Company of the Bank of Scotland
  50. 2002-03-25
    🔓
    Charge satisfied #8
Showing most recent 50 of 74 events

Owner dependency

48/100
Moderate — manageable with handover

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

FACTORS
  • -4 active directors: Broader management team in place — suggests transferable governance.
  • +Senior director age: Director aged approximately 62 — approaching natural succession window.

Succession & seller-readiness

40/100
Moderate signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.

Red flags

1 med · 1 low
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.

9 live charges
low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

🔒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.

See pricing →

Company details

Statusactive
Typeltd
Incorporated1972-01-24
Jurisdictionscotland
Primary SIC58130 — Publishing of newspapers

Registered office

Unit 1b Pairc Nan Craobh
Broadford
Isle Of Skye
IV49 9AP

Filing status

Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2027-02-09
Last: 2026-01-26

Officers (4 active · 15 resigned)

FALCONER, Lisa Helen→
director · ~45y · appointed 2025-04-14
View their other companies + combined net worth →
Active
MATHESON, Lucy Eleanor→
director · ~56y · appointed 2025-04-14
View their other companies + combined net worth →
Active
RUSSELL, Michael Francis→
director · ~57y · appointed 2025-04-14
View their other companies + combined net worth →
Active
URQUHART, William Murchison→
director · ~62y · appointed 2025-04-14
View their other companies + combined net worth →
Active
MCCORMACK, Ian Andrew→
secretary · resigned 1994-08-29
Resigned
WILKIE, James Seath→
secretary · appointed 1994-08-29 · resigned 1999-09-10
Resigned
WOOD, Paul Christopher→
secretary · appointed 1999-09-10 · resigned 2009-10-27
Resigned
BRUCE, James Adam→
director · ~74y · appointed 1993-08-06 · resigned 2015-11-04
Resigned
COWIE, Ross Alexander→
director · ~66y · appointed 1993-08-06 · resigned 1996-06-28
Resigned
INNES, James Marquis→
director · ~79y · resigned 2009-10-27
Resigned
MACINTYRE, Donald John→
director · ~79y · resigned 1999-09-10
Resigned
MACKENZIE, Keith→
director · ~47y · appointed 2009-10-27 · resigned 2025-04-14
Resigned
MCCORMACK, Ian Andrew→
director · ~78y · appointed 1993-08-06 · resigned 2020-01-31
Resigned
WILKIE, James Seath→
director · ~78y · appointed 1999-09-10 · resigned 2009-10-27
Resigned
WILSON, Brian David Henderson, Rt Hon→
director · ~78y · appointed 2007-03-30 · resigned 2009-10-27
Resigned
WILSON, Brian David Henderson, Rt Hon→
director · ~78y · resigned 1997-05-02
Resigned
WILSON, Robert Brown→
director · ~80y · appointed 1993-08-06 · resigned 1997-09-21
Resigned
WOOD, Paul Christopher→
director · ~56y · appointed 2009-10-27 · resigned 2024-11-07
Resigned
YOUNG, Lesley→
director · ~58y · appointed 2009-10-27 · resigned 2024-11-07
Resigned

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

Mortgages & charges

18
Total charges
9
Outstanding
4
Active lenders
Status:Lender:18 of 18 shown
TypeProperties
satisfied
Industrial Common Ownership Fund
Industrial Common Ownership Fund PLC
Standard security1 property26/11/200904/02/2016
outstanding
The Co-Operative Loan Fund
The Co-Operative Loan Fund Limited
Standard security1 property26/11/2009—
outstanding
Baxi Partnership
Baxi Partnership Limited
Standard security1 property16/11/2009—
outstanding
Co-Operative Loan Fund
Co-Operative Loan Fund Limited
Floating charge1 property27/10/2009—
satisfied
Co-0PERATIVE Loan Fund
Co-0PERATIVE Loan Fund Limited
Standard security1 property27/10/200911/12/2009
satisfied
Industrial Common Ownership Fund
Industrial Common Ownership Fund PLC
Standard security1 property27/10/200911/12/2009
satisfied
Industrial Common Ownership Fund
Industrial Common Ownership Fund PLC
Floating charge1 property27/10/200904/02/2016
satisfied
Baxi Partnership
Baxi Partnership Limited
Standard security1 property27/10/200927/11/2009
outstanding
Baxi Partnership
Baxi Partnership Limited
Bond & floating charge1 property27/10/2009—
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property15/06/2007—
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Bond & floating charge1 property06/03/2003—
satisfied
Skye and Lochalsh Local Enterprise Company
Skye and Lochalsh Local Enterprise Company Limited
Floating charge1 property07/08/199225/03/2002
satisfied
Highlands & Islands Development Board
Floating charge1 property21/09/198718/02/1998
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Letter of agreement1 property14/01/1986—
satisfied
The Highlands & Islands Dev. Board
Instrument of charge & agreement1 property07/01/197618/02/1998
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property07/01/1976—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property02/05/1975—
satisfied
Highlands & Islands Dev. Bd., Bridge House, 29 Bank St. Inverness
Change & agreement see doc 231 property02/05/197518/02/1998
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (165 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-01-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-30
termination-director-company-with-name-termination-date
officers · TM01
2025-04-14
appoint-person-director-company-with-name-date
officers · AP01
2025-04-14
appoint-person-director-company-with-name-date
officers · AP01
2025-04-14
appoint-person-director-company-with-name-date
officers · AP01
2025-04-14
appoint-person-director-company-with-name-date
officers · AP01
2025-04-14
confirmation-statement-with-updates
confirmation-statement · CS01
2025-02-12
termination-director-company-with-name-termination-date
officers · TM01
2024-11-08
termination-director-company-with-name-termination-date
officers · TM01
2024-11-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-31
confirmation-statement-with-updates
confirmation-statement · CS01
2024-02-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-10-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-10-31