CULLODEN FOODS LIMITED
🌳Matureactive
SC063411 · ltd · incorporated 1977-11-02
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.
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 material changes in the last 90 days.
Last 180 days
No snapshot from 180 days ago — start tracking from today.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to May 2025
Net worth
—
book net assets
Opportunity
80/100
Exceptional
What this business does
Primary activity: Manufacture of bread; manufacture of fresh pastry goods and cakes
Sector: Manufacturing
Investor take
PursueLeverage-led grower with a 81-year-old founder — textbook succession opportunity.
Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 81). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 6 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (57/100).
🏦
Refinance opportunity
22 live charges · 6 lenders · oldest 48.3y
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 48.3 years old — likely at or near maturity.
- · 6 lenders named — inter-creditor friction likely.
- · Legal-friction score 50/100 (high).
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
22 charges (22/22 with lender, 22/22 with type)
90
Directors & officers
10 officers (6 active, 10 linked, 7 with DOB)
84
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
3 connected companies via shared directors
54
Filing history
153 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
80/100Exceptional
PassWatchWorth a lookStrongExceptional
Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
85
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 102Profitable
Profit before tax £323,615
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-05-31 | 2024-05-31 |
|---|---|---|
| Profit before tax | £323.6k | — |
| Average employees | 215 | 20500 |
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
0
filings
Counts from Companies House filing history.
Corporate timeline (73 events)Click to expand
- 2025-12-04📄accounts-with-accounts-type-fullaccounts · AA
- 2025-11-11📄appoint-person-secretary-company-with-name-dateofficers · AP03
- 2025-11-11📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2024-12-20➕GOW, David James appointedsecretary
- 2024-12-20➖GOW, William Harold resignedsecretary
- 2024-11-27📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-11-12📄change-person-director-company-with-change-dateofficers · CH01
- 2024-11-12📄change-person-director-company-with-change-dateofficers · CH01
- 2024-11-12📄change-person-director-company-with-change-dateofficers · CH01
- 2024-11-12📄change-person-director-company-with-change-dateofficers · CH01
- 2023-12-01📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-03-01📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-03-01🔓Charge satisfied #3
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-02-22🔓Charge satisfied #29
- 2023-02-22🔓Charge satisfied #27
- 2023-02-22🔓Charge satisfied #26
- 2023-02-22🔓Charge satisfied #25
- 2023-02-22🔓Charge satisfied #24
- 2023-02-22🔓Charge satisfied #23
- 2023-02-22🔓Charge satisfied #22
- 2023-02-22🔓Charge satisfied #21
- 2023-02-22🔓Charge satisfied #20
- 2023-02-22🔓Charge satisfied #19
- 2023-02-22🔓Charge satisfied #17
- 2023-02-22🔓Charge satisfied #16
- 2023-02-22🔓Charge satisfied #15
- 2023-02-22🔓Charge satisfied #18
- 2023-02-22🔓Charge satisfied #14
- 2023-02-22🔓Charge satisfied #5
- 2014-03-12🔒Charge registered #29Lender: Speyfield Limited
- 2013-10-08🔒Charge registered #28Lender: Clydesdale Bank PLC
- 2010-04-12➕GOW, Fraser Macmillan appointeddirector
- 2010-04-12➕MCINTOSH, Jane Burnett appointeddirector
- 2010-04-12➕MCINTOSH, Sara Fenion appointeddirector
- 2009-05-31➖GOURLAY, Michael Dale resigneddirector
- 2006-08-10🔒Charge registered #27Lender: Clydesdale Bank Public Limited Company
- 2005-11-18🔒Charge registered #26Lender: Clydesdale Bank Public Limited Company
- 2005-11-18🔒Charge registered #25Lender: Clydesdale Bank Public Limited Company
Showing most recent 50 of 73 events
Owner dependency
73/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- -5 active directors: Broader management team in place — suggests transferable governance.
- +Long-tenure founder: Senior director has been in place 26 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 81 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
80/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 81 years old. Natural succession window is now.
- primary20+ year tenure: Director in role 26 years. Very long tenure is a classic succession signal.
- 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
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Harry Gow Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Harry Gow Limited
Corporate parent · holds 75-100% shares
⬇
CULLODEN FOODS LIMITED
This company · SC063411
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Harry Gow Limited Corporate entity | 75–100% | — | 75-100% shares | 17/07/2019 |
1 historic (ceased) PSC
- Mr William Harold Gowceased 17/07/2019· 50-75% shares · 50-75% voting
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 →Similar companies
Active · Food & drink · IV postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| HARRY GOW LIMITED→ SC631749 · est 2019 | £985.0k £725.8k–£1.24M | — | — | — | 7y | 79 | 81y |
| ANGELIC FREE FROM LTD→ SC400402 · est 2011 | — | — | £14.7k | — | 15y | 83 | 61y |
| C J MIDDLETON LIMITED→ SC212646 · est 2000 | — | — | £624.4k | — | 25y | 82 | 66y |
| CLAYMORE DAIRIES LIMITED→ SC371390 · est 2010 · no financials extracted | — | — | — | — | 16y | 82 | 60y |
| EKOBAY LIMITED→ SC128521 · est 1990 | — | — | — | 200 | 35y | 82 | 73y |
| FIONNAR SPRINGS LTD.→ SC230770 · est 2002 | — | — | £273.5k | — | 24y | 82 | 92y |
| SINCLAIR BREWERIES LIMITED→ SC302746 · est 2006 | — | — | — | 21 | 20y | 82 | 65y |
| ATLAS BREWERY LIMITED→ SC303326 · est 2006 | — | — | — | — | 20y | 80 | 65y |
| KELTIC SEAFARE (SCOTLAND) LIMITED→ SC141396 · est 1992 | — | — | £1.15M | — | 33y | 80 | 84y |
| MARIXIN (INVERNESS) LIMITED→ SC098274 · est 1986 | — | — | — | 2000 | 40y | 80 | 85y |
| SPEYMALT WHISKY DISTRIBUTORS LIMITED→ SC037522 · est 1962 · no financials extracted | — | — | — | — | 64y | 80 | 65y |
| THE THREE LITTLE BAKERS LTD→ SC445894 · est 2013 | — | — | — | — | 13y | 80 | 58y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated1977-11-02
Jurisdictionscotland
Primary SIC10710 — Manufacture of bread; manufacture of fresh pastry goods and cakes
Registered office
Smithton Industrial Estate
Smithton
Inverness
Highland
IV2 7WL
Filing status
Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2026-11-24
Last: 2025-11-10
Officers (6 active · 4 resigned)
Active
Active
GOW, David James→
Activedirector · ~54y · appointed 2000-03-21
View their other companies + combined net worth →
GOW, Fraser Macmillan→
Activedirector · ~45y · appointed 2010-04-12
View their other companies + combined net worth →
MCINTOSH, Jane Burnett→
Activedirector · ~62y · appointed 2010-04-12
View their other companies + combined net worth →
MCINTOSH, Sara Fenion→
Activedirector · ~58y · appointed 2010-04-12
View their other companies + combined net worth →
GOW, William Harold→
Resignedsecretary · resigned 2024-12-20
BREAKEY, James→
Resigneddirector · resigned 1991-10-02
GOURLAY, Michael Dale→
Resigneddirector · ~82y · resigned 2009-05-31
GOW, William Harold→
Resigneddirector · ~91y · resigned 2000-03-21
Click a director name to see their full track record across all companies.
Mortgages & charges
22
Total charges
3
Outstanding
2
Active lenders
Status:Lender:22 of 22 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Speyfield Speyfield Limited | A registered charge | 1 property | 12/03/2014 | 22/02/2023 | |
| outstanding | Virgin Money Clydesdale Bank PLC | A registered charge | 1 property | 08/10/2013 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 10/08/2006 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 18/11/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 18/11/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 18/11/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 18/11/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 18/11/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 14/10/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 14/10/2005 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 12/06/1995 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 26/05/1993 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 14/10/1992 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 25/06/1992 | 22/02/2023 | |
| satisfied | Highlands and Islands Development Board | Standard security | 1 property | 10/12/1990 | 22/02/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 24/01/1990 | 22/02/2023 | |
| satisfied | H I D B | Standard security | 1 property | 07/04/1983 | 10/10/1991 | |
| outstanding | H I D B | Instrument of charge | 1 property | 16/03/1983 | — | |
| satisfied | Highlands & Islands Development Board | Minute of agreement | 1 property | 17/04/1980 | 22/02/2023 | |
| satisfied | Highlands and Islands Development Board | Standard security | 1 property | 20/03/1979 | 01/03/2023 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 20/03/1979 | 13/01/1992 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 31/03/1978 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (153 total)
accounts-with-accounts-type-full
accounts · AA
2025-12-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-12
appoint-person-secretary-company-with-name-date
officers · AP03
2025-11-11
termination-secretary-company-with-name-termination-date
officers · TM02
2025-11-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-27
change-person-director-company-with-change-date
officers · CH01
2024-11-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-11-12
change-person-director-company-with-change-date
officers · CH01
2024-11-12
change-person-director-company-with-change-date
officers · CH01
2024-11-12
change-person-director-company-with-change-date
officers · CH01
2024-11-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-10
mortgage-satisfy-charge-full
mortgage · MR04
2023-03-01
mortgage-satisfy-charge-full
mortgage · MR04
2023-02-22
mortgage-satisfy-charge-full
mortgage · MR04
2023-02-22