JOHN DAVIDSON (PIPES) LIMITED

🌳Matureactive
SC050397 · ltd · incorporated 1972-04-25
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
£79.83M
year to Dec 2024
Net worth
—
book net assets
Opportunity
78/100
Strong
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What this business does
Primary activity: SIC 46130
Sector: Wholesale & retail
Investor take
Pursue
Strong opportunity: leverage-led grower with strong profile and acceptable with review structure.

Opportunity 78/100 (strong), bankability 57/100. High owner-dependency — earn-out structure likely required for clean transition. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (57/100).

🏦

Refinance opportunity

14 live charges · 4 lenders · oldest 46.7y

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 46.7 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 55/100 (high).

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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
14 charges (14/14 with lender, 14/14 with type)
90
Directors & officers
24 officers (3 active, 24 linked, 17 with DOB)
84
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
166 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
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 · FRS 102
Profitable
Profit before tax £3,721,000

Key financials

1 year extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-12-31
Turnover£79.83M
Gross profit£25.26M
Operating profit£3.80M
Profit before tax£3.72M
Average employees25000

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

🔒Filing-note intelligence

3 signals 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 (82 events)Click to expand
  1. 2025-09-25
    📄
    accounts-with-accounts-type-full
    accounts · AA
  2. 2024-09-30
    📄
    accounts-with-accounts-type-full
    accounts · AA
  3. 2024-01-02
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  4. 2024-01-02
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  5. 2024-01-01
    ➕
    HOEYLAERTS, Sandra appointed
    director
  6. 2023-12-31
    ➖
    HASPESLAGH, Stefaan Arthur resigned
    director
  7. 2023-09-29
    📄
    accounts-with-accounts-type-full
    accounts · AA
  8. 2022-10-04
    📄
    accounts-with-accounts-type-full
    accounts · AA
  9. 2022-03-08
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  10. 2021-12-29
    📄
    accounts-with-accounts-type-full
    accounts · AA
  11. 2021-01-08
    📄
    accounts-with-accounts-type-full
    accounts · AA
  12. 2020-01-13
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  13. 2020-01-13
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  14. 2019-10-02
    📄
    accounts-with-accounts-type-full
    accounts · AA
  15. 2019-04-12
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  16. 2019-04-12
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  17. 2019-04-01
    ➕
    RICKARDS, Darran, Mr. appointed
    director
  18. 2019-03-31
    ➖
    MCLELLAN, Malcolm Stephen resigned
    director
  19. 2018-09-11
    📄
    accounts-with-accounts-type-full
    accounts · AA
  20. 2017-09-29
    📄
    accounts-with-accounts-type-full
    accounts · AA
  21. 2016-04-01
    ➕
    HASPESLAGH, Stefaan Arthur appointed
    director
  22. 2016-03-31
    ➖
    TELGEN, Johan Henrik, Drs. resigned
    director
  23. 2013-10-01
    ➖
    VASSEUR, Albert resigned
    director
  24. 2012-04-13
    ➖
    DE MEUE, Bruno Peter Michel Oscar resigned
    director
  25. 2007-07-11
    ➕
    TELGEN, Johan Henrik, Drs. appointed
    director
  26. 2007-03-31
    ➖
    MERTENS, Richard resigned
    director
  27. 2004-06-30
    ➖
    COOPER, Allan Cunningham resigned
    director
  28. 2004-02-25
    ➕
    MCGUINESS, Iain appointed
    secretary
  29. 2004-02-25
    ➖
    MCLELLAN, Malcolm Stephen resigned
    secretary
  30. 2004-02-25
    ➕
    DE MEUE, Bruno Peter Michel Oscar appointed
    director
  31. 2004-02-25
    ➕
    MCLELLAN, Malcolm Stephen appointed
    director
  32. 2004-02-25
    ➕
    VASSEUR, Albert appointed
    director
  33. 2003-11-01
    ➕
    MCLELLAN, Malcolm Stephen appointed
    secretary
  34. 2003-10-31
    ➖
    CULLEY, Darren resigned
    secretary
  35. 2003-03-04
    ➖
    GOMBERT, Willem Carel resigned
    director
  36. 2003-03-04
    ➖
    INNES, Eric David resigned
    director
  37. 2003-02-19
    🔓
    Charge satisfied #13
  38. 2003-02-19
    🔓
    Charge satisfied #9
  39. 2002-12-17
    ➕
    CULLEY, Darren appointed
    secretary
  40. 2002-09-25
    ➖
    GRAHAM, Sarah Evelyn resigned
    secretary
  41. 2002-09-25
    ➖
    GRAHAM, Sarah Evelyn resigned
    director
  42. 2002-09-01
    ➖
    DALSTRA, Alike Jan resigned
    director
  43. 2002-02-25
    ➕
    GRAHAM, Sarah Evelyn appointed
    secretary
  44. 2002-02-25
    ➖
    INNES, Eric David resigned
    secretary
  45. 2002-02-25
    ➕
    DALSTRA, Alike Jan appointed
    director
  46. 2002-02-25
    ➕
    GRAHAM, Sarah Evelyn appointed
    director
  47. 2002-02-25
    ➖
    LUDLEY, Graeme Dennis resigned
    director
  48. 2001-04-27
    ➕
    GOMBERT, Willem Carel appointed
    director
  49. 2001-04-27
    ➕
    LUDLEY, Graeme Dennis appointed
    director
  50. 2001-04-27
    ➕
    MERTENS, Richard appointed
    director
Showing most recent 50 of 82 events

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 61 — approaching natural succession window.

Succession & seller-readiness

46/100
Moderate signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

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.

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Luc Jules Tack
Individual · Belgian · DOB 09/1961 · age 65
——sig. influencesignificant influence01/04/2019
1 historic (ceased) PSC
  • Mr Malcolm Stephen Mclellanceased 31/03/2019· significant influence

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

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
Incorporated1972-04-25
Jurisdictionscotland
Primary SIC46130 — SIC 46130

Registered office

Registered Office
Kintore
Inverurie
Aberdeenshire
AB51 0YQ
Scotland

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-01-17
Last: 2026-01-03

Officers (3 active · 21 resigned)

MCGUINESS, Iain→
secretary · appointed 2004-02-25
View their other companies + combined net worth →
Active
HOEYLAERTS, Sandra→
director · ~54y · appointed 2024-01-01
View their other companies + combined net worth →
Active
RICKARDS, Darran, Mr.→
director · ~61y · appointed 2019-04-01
View their other companies + combined net worth →
Active
CULLEY, Darren→
secretary · appointed 2002-12-17 · resigned 2003-10-31
Resigned
GRAHAM, Sarah Evelyn→
secretary · appointed 2002-02-25 · resigned 2002-09-25
Resigned
INNES, Eric David→
secretary · appointed 1995-06-30 · resigned 2002-02-25
Resigned
MCLELLAN, Malcolm Stephen→
secretary · appointed 2003-11-01 · resigned 2004-02-25
Resigned
WALLACE, Alexander Campbell→
secretary · appointed 1992-05-15 · resigned 1995-06-30
Resigned
COOPER, Allan Cunningham→
director · ~78y · appointed 1992-05-15 · resigned 2004-06-30
Resigned
DALSTRA, Alike Jan→
director · ~62y · appointed 2002-02-25 · resigned 2002-09-01
Resigned
DAVIDSON, John Brian→
director · ~89y · resigned 1992-05-15
Resigned
DAVIDSON, June Sandison→
director · ~80y · resigned 1992-05-15
Resigned
DE MEUE, Bruno Peter Michel Oscar→
director · ~65y · appointed 2004-02-25 · resigned 2012-04-13
Resigned
ENTWISTLE, Raymond Marvin→
director · ~82y · appointed 1992-10-23 · resigned 1996-06-30
Resigned
GOMBERT, Willem Carel→
director · ~83y · appointed 2001-04-27 · resigned 2003-03-04
Resigned
GRAHAM, Sarah Evelyn→
director · ~54y · appointed 2002-02-25 · resigned 2002-09-25
Resigned
HASPESLAGH, Stefaan Arthur→
director · ~68y · appointed 2016-04-01 · resigned 2023-12-31
Resigned
INNES, Eric David→
director · ~78y · resigned 2003-03-04
Resigned
INNES, Jannette Louise→
director · resigned 1990-08-31
Resigned
LUDLEY, Graeme Dennis→
director · ~66y · appointed 2001-04-27 · resigned 2002-02-25
Resigned

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

Mortgages & charges

14
Total charges
4
Outstanding
2
Active lenders
Status:Lender:14 of 14 shown
TypeProperties
outstanding
Lloyds Banking Group
Lloyds Tsb Scotland PLC
Standard security1 property22/08/2000—
outstanding
Lloyds Banking Group
Tsb Bank Scotland PLC
Standard security1 property07/10/1993—
satisfied
Lloyds Banking Group
Tsb Bank Scotland PLC
Bond & floating charge1 property17/09/199319/02/2003
outstanding
Hill Samuel Bank
Hill Samuel Bank Limited
Standard security1 property21/09/1992—
outstanding
Hill Samuel Bank
Hill Samuel Bank Limited
Legal charge1 property16/09/1992—
satisfied
Hill Samuel Bank
Hill Samuel Bank Limited
Bond & floating charge1 property16/09/199219/02/2003
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Legal charge1 property17/08/199214/10/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Legal charge1 property17/08/199214/10/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Standard security1 property16/01/198118/09/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Standard security1 property06/10/198018/09/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Legal mortgage1 property20/02/198014/10/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Standard security1 property14/09/197918/09/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Debenture1 property04/09/197914/10/1992
satisfied
Lloyds Banking Group
Lloyds Bank PLC
Letter of offset1 property02/08/197918/09/1992
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (166 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-07
accounts-with-accounts-type-full
accounts · AA
2025-09-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-09
accounts-with-accounts-type-full
accounts · AA
2024-09-30
confirmation-statement-with-updates
confirmation-statement · CS01
2024-01-15
appoint-person-director-company-with-name-date
officers · AP01
2024-01-02
termination-director-company-with-name-termination-date
officers · TM01
2024-01-02
accounts-with-accounts-type-full
accounts · AA
2023-09-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-20
accounts-with-accounts-type-full
accounts · AA
2022-10-04
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-03-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-13
accounts-with-accounts-type-full
accounts · AA
2021-12-29
accounts-with-accounts-type-full
accounts · AA
2021-01-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-01-06