ETTRICK TROUT CO. LIMITED
💤Zombieactive
SC064314 · ltd · incorporated 1978-03-15
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
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
79/100
Strong
What this business does
Primary activity: SIC 03210
Sector: Agriculture, forestry & fishing
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 79/100 (strong), bankability 77/100. Strong seller-intent signal (80/100, director aged 58). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 9 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
12 live charges · 9 lenders · oldest 44.8y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 44.8 years old — likely at or near maturity.
- · 9 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (59/100)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
No iXBRL financials extracted
0
Lenders & charges
12 charges (12/12 with lender, 12/12 with type)
90
Directors & officers
13 officers (2 active, 13 linked, 7 with DOB)
81
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
150 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
1
filing
- • 1 confirmation-statement
Last 180 days
1
filing
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (62 events)Click to expand
- 2025-10-21📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-10-20➖SINGELSTAD, Helge resigneddirector
- 2025-09-26📄accounts-with-accounts-type-dormantaccounts · AA
- 2024-09-25📄accounts-with-accounts-type-dormantaccounts · AA
- 2023-10-17📄accounts-with-accounts-type-dormantaccounts · AA
- 2022-10-05📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-09-28📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-08-05📄mortgage-satisfy-charge-fullmortgage · MR04
- 2021-08-05📄mortgage-satisfy-charge-fullmortgage · MR04
- 2021-08-05🔓Charge satisfied #14
- 2021-08-05🔓Charge satisfied #13
- 2021-07-21📄gazette-filings-brought-up-to-dategazette · DISS40
- 2021-07-20📄gazette-notice-compulsorygazette · GAZ1
- 2020-12-31📄accounts-with-accounts-type-dormantaccounts · AA
- 2020-01-29➖REA, John resigneddirector
- 2020-01-29📄termination-director-company-with-name-termination-dateofficers · TM01
- 2019-10-01📄accounts-with-accounts-type-dormantaccounts · AA
- 2018-10-03📄accounts-with-accounts-type-dormantaccounts · AA
- 2017-10-04📄accounts-with-accounts-type-dormantaccounts · AA
- 2013-04-17🔒Charge registered #14Lender: Dnb Bank Asa
- 2008-12-18➕SINGELSTAD, Helge appointeddirector
- 2008-04-15🔒Charge registered #13Lender: Other
- 2007-07-05🔓Charge satisfied #10
- 2007-07-05🔓Charge satisfied #12
- 2007-07-05🔓Charge satisfied #9
- 2007-07-05🔓Charge satisfied #8
- 2007-07-05🔓Charge satisfied #7
- 2007-06-29➕ANDERSON, Dermot appointedsecretary
- 2007-06-29➕GALLAGHER, James Francis appointeddirector
- 2007-06-29➖FISHER, Cherie Tennant resignedsecretary
- 2007-06-29➖BAXTER, William resigneddirector
- 2007-06-29➕REA, John appointeddirector
- 2007-03-12➕FISHER, Cherie Tennant appointedsecretary
- 2007-02-27➖BAIRD, Basil Craig resignedsecretary
- 2007-02-27➖BAIRD, Basil Craig resigneddirector
- 1998-05-05➖LISTON, William Munro resigneddirector
- 1997-08-12🔓Charge satisfied #6
- 1995-04-05🔒Charge registered #10Lender: Midland Bank PLC
- 1995-03-31🔒Charge registered #12Lender: Midland Bank PLC
- 1993-01-06➕BAIRD, Basil Craig appointedsecretary
- 1993-01-06➖MCKENZIE, Roderick Cheyne resignedsecretary
- 1992-12-04🔒Charge registered #9Lender: Tsb Bank PLC
- 1992-12-03🔒Charge registered #8Lender: Dansk Orredfoder a/S
- 1992-12-01🔓Charge satisfied #3
- 1992-12-01🔓Charge satisfied #2
- 1992-11-26🔒Charge registered #7Lender: Dansk Orredfoder a/S
- 1992-11-20➖BAIRD, Basil Craig resignedsecretary
- 1992-11-20➕MCKENZIE, Roderick Cheyne appointedsecretary
- 1992-05-18➕BAIRD, Basil Craig appointeddirector
- 1992-05-18➕LISTON, William Munro appointeddirector
Showing most recent 50 of 62 events
Owner dependency
93/100
Critical — business is the founderThe business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
FACTORS
- +Sole director: Only one active director — all governance concentrated on one person.
- +Long-tenure founder: Senior director has been in place 19 years — deep operational knowledge concentrated in one person.
- +Senior director age: Director aged approximately 58 — approaching natural succession window.
Succession & seller-readiness
78/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 58. Early succession window.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- secondary12+ year tenure: Director in role 19 years.
- secondaryStable-but-static management: Company is 48 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
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Shareholders & ownership
1 active beneficial owner| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr James Francis Gallagher Individual · British · DOB 10/1968 · age 58 | — | — | sig. influencesignificant influence | 06/04/2016 |
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 →Similar companies
Active · Agriculture · FK postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| LAKE OF MENTEITH FISHERIES LIMITED (THE)→ SC043307 · est 1966 | — | — | £360.5k | — | 60y | 83 | 88y |
| A D GRAHAM (FARMER) LIMITED→ SC069941 · est 1979 | — | — | — | 200 | 46y | 82 | 63y |
| BARR FARMS LIMITED→ SC256406 · est 2003 | — | — | — | 1900 | 22y | 82 | 70y |
| CHRISTIE STEWART LTD→ SC174039 · est 1997 | — | — | £672.9k | — | 29y | 82 | 60y |
| COXHILL FARM LIMITED→ SC292962 · est 2005 | — | — | — | 0 | 20y | 82 | 68y |
| GSP FARMS LIMITED→ SC046588 · est 1969 · no financials extracted | — | — | — | — | 57y | 82 | 58y |
| JOHN CAMERON. (GRAZIER) LIMITED→ SC033835 · est 1959 | — | — | — | 200 | 67y | 82 | 74y |
| LAURENT BIENFAIT WOODLANDS SERVICES LIMITED→ SC360661 · est 2009 | — | — | £254.1k | — | 16y | 82 | 64y |
| LAXDALE FOODSERVICE LIMITED→ SC035377 · est 1960 | — | — | £1.80M | — | 65y | 82 | 89y |
| LINKSFIELD LAND DRAINAGE LIMITED→ SC177497 · est 1997 | — | — | — | 0 | 28y | 82 | 58y |
| SCOTTISH SEA FARMS SALES LIMITED→ SC165107 · est 1996 · no financials extracted | — | — | — | — | 30y | 82 | 58y |
| STOCKSCAN (SCOTLAND) LTD.→ SC281632 · est 2005 | — | — | — | 4 | 21y | 82 | 58y |
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
Incorporated1978-03-15
Jurisdictionscotland
Primary SIC03210 — SIC 03210
Registered office
Laurel House
Laurelhill Business Park
Stirling
Stirlingshire
FK7 9JQ
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-05-08
Last: 2026-04-24
Officers (2 active · 11 resigned)
Active
GALLAGHER, James Francis→
Activedirector · ~58y · appointed 2007-06-29
View their other companies + combined net worth →
BAIRD, Basil Craig→
Resignedsecretary · appointed 1993-01-06 · resigned 2007-02-27
BAIRD, Basil Craig→
Resignedsecretary · appointed 1991-12-13 · resigned 1992-11-20
FISHER, Cherie Tennant→
Resignedsecretary · appointed 2007-03-12 · resigned 2007-06-29
MCKENZIE, Roderick Cheyne→
Resignedsecretary · appointed 1992-11-20 · resigned 1993-01-06
WILLIAMS, Rowena→
Resignedsecretary · resigned 1991-12-13
BAIRD, Basil Craig→
Resigneddirector · ~62y · appointed 1992-05-18 · resigned 2007-02-27
BAXTER, William→
Resigneddirector · ~84y · resigned 2007-06-29
HYND, Robert Graham→
Resigneddirector · ~71y · appointed 1990-07-13 · resigned 1990-07-13
LISTON, William Munro→
Resigneddirector · ~81y · appointed 1992-05-18 · resigned 1998-05-05
REA, John→
Resigneddirector · ~61y · appointed 2007-06-29 · resigned 2020-01-29
SINGELSTAD, Helge→
Resigneddirector · ~63y · appointed 2008-12-18 · resigned 2025-10-20
Click a director name to see their full track record across all companies.
Mortgages & charges
12
Total charges
0
Outstanding
0
Active lenders
Status:Lender:12 of 12 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Dnb Bank Asa | A registered charge | 1 property | 17/04/2013 | 05/08/2021 | |
| satisfied | Other | Bond & floating charge | 1 property | 15/04/2008 | 05/08/2021 | |
| satisfied | Midland Bank Midland Bank PLC | Standard security | 1 property | 05/04/1995 | 05/07/2007 | |
| satisfied | Midland Bank Midland Bank PLC | Bond & floating charge | 1 property | 31/03/1995 | 05/07/2007 | |
| satisfied | Lloyds Banking Group Tsb Bank PLC | Standard security | 1 property | 04/12/1992 | 05/07/2007 | |
| satisfied | Dansk Orredfoder a/S | Standard security | 1 property | 03/12/1992 | 05/07/2007 | |
| satisfied | Dansk Orredfoder a/S | Bond & floating charge | 1 property | 26/11/1992 | 05/07/2007 | |
| satisfied | Lloyds Banking Group Tsb Bank Scotland PLC | Bond & floating charge | 1 property | 06/11/1989 | 12/08/1997 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 20/10/1987 | 26/11/1990 | |
| satisfied | National Westminster Bank National Westminster Bank PLC | Floating charge | 1 property | 01/03/1984 | 01/12/1992 | |
| satisfied | National Westminster Bank National Westminster Bank PLC | Legal mortgage | 1 property | 21/02/1984 | 01/12/1992 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 03/08/1981 | 09/04/1986 |
Recent filings (150 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-24
termination-director-company-with-name-termination-date
officers · TM01
2025-10-21
accounts-with-accounts-type-dormant
accounts · AA
2025-09-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-22
accounts-with-accounts-type-dormant
accounts · AA
2024-09-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-06
accounts-with-accounts-type-dormant
accounts · AA
2023-10-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-07-05
accounts-with-accounts-type-dormant
accounts · AA
2022-10-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-27
accounts-with-accounts-type-dormant
accounts · AA
2021-09-28
mortgage-satisfy-charge-full
mortgage · MR04
2021-08-05
mortgage-satisfy-charge-full
mortgage · MR04
2021-08-05
gazette-filings-brought-up-to-date
gazette · DISS40
2021-07-21
gazette-notice-compulsory
gazette · GAZ1
2021-07-20