BELVACK LIMITED
💤Zombieactive
SC067367 · ltd · incorporated 1979-03-15
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.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£17.1k
book net assets
Opportunity
77/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueStrong opportunity: asset-holding vehicle with strong profile and bankable structure.
Opportunity 77/100 (strong), bankability 85/100. Strong seller-intent signal (68/100, director aged 49). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
2 live charges · oldest 44.1y
45/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 44.1 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (78/100)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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
4 officers (1 active, 4 linked, 3 with DOB)
85
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
110 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
77/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
60
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 105 (micro)Positive net assets
Net assets £17,065
Net assets shrinking
Down £4,880 YoY
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
£17k
↓ 22% YoY
Current Assets
£11k
↓ 3.3% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 105 (micro)| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £17.1k | £21.9k |
| Current assets | £11.4k | £11.8k |
| Net assets | £17.1k | £21.9k |
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
4
filings
- • 1 accounts
- • 1 confirmation-statement
- • 1 persons-with-significant-control
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
- 2025-12-29📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2025-11-18📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2025-11-18📄change-person-director-company-with-change-dateofficers · CH01
- 2025-08-15➖STEWART, Jane Calder resigneddirector
- 2025-08-15📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-12-10📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-02-28📄gazette-filings-brought-up-to-dategazette · DISS40
- 2024-02-20📄gazette-notice-compulsorygazette · GAZ1
- 2023-12-22📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-12-27📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-12-30📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-12-29📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2019-12-31📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2018-12-28📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2017-12-11📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2016-12-05📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2012-08-31🔓Charge satisfied #2
- 2012-08-31🔓Charge satisfied #1
- 2007-04-01➕WINTER, Nicola Jane appointeddirector
- 2007-04-01➖STEWART, Michael William resignedsecretary
- 2007-04-01➖STEWART, Michael William resigneddirector
- 1982-06-14🔒Charge registered #2Lender: The Governor and Company of the Bank of Scotland
- 1982-03-23🔒Charge registered #1Lender: The Governor and Company of the Bank of Scotland
- 1979-03-15🏢Company incorporatedAs BELVACK LIMITED
Owner dependency
85/100
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.
Succession & seller-readiness
68/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- 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 47 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
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Ms Nicola Jane Winter Individual · British · DOB 09/1977 · age 49 | 75–100% | 75–100% | 75-100% shares · 75-100% voting | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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|---|---|---|---|---|---|---|---|
| B&S PROPERTIES (SCOTLAND) LTD→ SC794414 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| BLUELIONS HOLDINGS LTD→ SC721724 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
| BMA PROPERTIES (SCOTLAND) LTD→ SC647000 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| BOATWYND LIMITED→ SC420432 · est 2012 · no financials extracted | — | — | — | — | 14y | — | — |
| BOMAB LIMITED→ SC830202 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| BROCH PROPERTIES LTD→ SC773078 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| BROLLACHAN INVESTMENTS LTD→ SC819017 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| BRUCE BROTHERS PROPERTIES LIMITED→ SC763688 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| BYDIN PROPERTIES LIMITED→ SC646861 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| CAIRN SERVICES (PROPERTIES) LIMITED→ SC444146 · est 2013 · no financials extracted | — | — | — | — | 13y | — | — |
| CAIRNHALL LIMITED→ SC500255 · est 2015 · no financials extracted | — | — | — | — | 11y | — | — |
| CAIRNTERRA LIMITED→ SC815217 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
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
Incorporated1979-03-15
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
338 Morrison Drive
Garthdee
Aberdeen
AB10 7EN
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-12-02
Last: 2025-11-18
Officers (1 active · 3 resigned)
WINTER, Nicola Jane→
Activedirector · ~49y · appointed 2007-04-01
View their other companies + combined net worth →
STEWART, Michael William→
Resignedsecretary · resigned 2007-04-01
STEWART, Jane Calder→
Resigneddirector · ~78y · resigned 2025-08-15
STEWART, Michael William→
Resigneddirector · ~78y · resigned 2007-04-01
Click a director name to see their full track record across all companies.
Mortgages & charges
2
Total charges
0
Outstanding
0
Active lenders
Status:Lender:2 of 2 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 14/06/1982 | 31/08/2012 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 23/03/1982 | 31/08/2012 |
Recent filings (110 total)
accounts-with-accounts-type-micro-entity
accounts · AA
2025-12-29
confirmation-statement-with-updates
confirmation-statement · CS01
2025-11-18
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-11-18
change-person-director-company-with-change-date
officers · CH01
2025-11-18
termination-director-company-with-name-termination-date
officers · TM01
2025-08-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-10
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-10
gazette-filings-brought-up-to-date
gazette · DISS40
2024-02-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-27
gazette-notice-compulsory
gazette · GAZ1
2024-02-20
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-22
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-12-13
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-12-21