IODS PIPE CLAD LIMITED
💤Zombieactive
SC071447 · ltd · incorporated 1980-05-14
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 Nov 2024
Net worth
—
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: Other manufacturing n.e.c.
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with strong profile and acceptable with review structure.
Opportunity 73/100 (strong), bankability 67/100. High owner-dependency — earn-out structure likely required for clean transition. 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 (58/100).
🏦
Refinance opportunity
9 live charges · 6 lenders · oldest 41.2y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 41.2 years old — likely at or near maturity.
- · 6 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (74/100)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
9 charges (9/9 with lender, 9/9 with type)
90
Directors & officers
15 officers (1 active, 15 linked, 10 with DOB)
83
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
10 connected companies via shared directors
75
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
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
1 year extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Financials
Extracted from Companies House accounts · FRS 101| Metric | 2024-11-30 |
|---|---|
| Average employees | 47 |
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
1
filing
- • 1 accounts
Last 180 days
3
filings
- • 2 accounts
- • 1 officers
Counts from Companies House filing history.
Corporate timeline (65 events)Click to expand
- 2026-02-13📄accounts-with-accounts-type-smallaccounts · AA
- 2025-12-10➖WILSON, James Donald Gilmour resigneddirector
- 2025-12-10📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-11-13📄change-account-reference-date-company-previous-shortenedaccounts · AA01
- 2025-04-11📄accounts-with-accounts-type-smallaccounts · AA
- 2025-02-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-02-21🔒Charge registered #11Lender: Igf Business Credit Limited
- 2025-02-11📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-02-11🔓Charge satisfied #10
- 2024-10-04📄accounts-with-accounts-type-smallaccounts · AA
- 2024-03-30📄gazette-filings-brought-up-to-dategazette · DISS40
- 2024-03-28📄accounts-with-accounts-type-smallaccounts · AA
- 2024-03-26📄dissolved-compulsory-strike-off-suspendeddissolution · DISS16(SOAS)
- 2024-03-21📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-03-20📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2024-03-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-03-20📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-03-20📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2024-03-15➕PENMAN, Mark Anderson appointeddirector
- 2024-03-15➖MINCHER, Barbara Anne resigneddirector
- 2024-03-15➕WILSON, James Donald Gilmour appointeddirector
- 2024-03-05📄gazette-notice-compulsorygazette · GAZ1
- 2023-12-21📄memorandum-articlesincorporation · MA
- 2023-09-28📄resolutionresolution · RESOLUTIONS
- 2023-09-13📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-09-13📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2023-09-07➖MINCHER, James Ronnie resignedsecretary
- 2023-09-07➖MINCHER, James Ronnie resigneddirector
- 2022-04-29📄accounts-with-accounts-type-smallaccounts · AA
- 2021-12-23🔒Charge registered #10Lender: Time Invoice Finance Limited
- 2021-12-06🔓Charge satisfied #9
- 2021-12-06🔓Charge satisfied #8
- 2020-07-30➖CHURCH, Daniel Francis resignedsecretary
- 2020-07-30➕MINCHER, James Ronnie appointedsecretary
- 2017-11-27➕MINCHER, James Ronnie appointeddirector
- 2011-11-01🔓Charge satisfied #3
- 2011-11-01🔓Charge satisfied #2
- 2011-11-01🔓Charge satisfied #1
- 2011-10-28🔒Charge registered #9Lender: Clydesdale Bank PLC
- 2011-10-25🔒Charge registered #8Lender: Clydesdale Bank PLC
- 2010-08-26➖HENDERSON, William Shields resigneddirector
- 2010-06-27➖MINCHER, Ronnie James resigneddirector
- 2009-11-12🔓Charge satisfied #6
- 2009-10-27➕MINCHER, Barbara Anne appointeddirector
- 2005-06-02➖IRVING, Raymond Thomas resigneddirector
- 2004-05-14➕HENDERSON, William Shields appointeddirector
- 2002-01-07➕CHURCH, Daniel Francis appointedsecretary
- 2002-01-07➖MACNEAL, Roderick James Robertson resignedsecretary
- 2002-01-07➖MACNEAL, Roderick James Robertson resigneddirector
- 2000-01-05➕MACNEAL, Roderick James Robertson appointedsecretary
Showing most recent 50 of 65 events
Owner dependency
75/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Sole director: Only one active director — all governance concentrated on one person.
Succession & seller-readiness
45/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
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
Ftv Proclad International Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Ftv Proclad International Limited
Corporate parent · holds 75-100% shares
⬇
IODS PIPE CLAD LIMITED
This company · SC071447
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 |
|---|---|---|---|---|
Ftv Proclad International Limited Corporate entity | 75–100% | 75–100% | 75-100% shares · 75-100% voting | 15/03/2024 |
1 historic (ceased) PSC
- Glenalmond Group Ltdceased 15/03/2024· 75-100% shares · 75-100% voting · 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 →Similar companies
Active · Manufacturing · G postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| GREEN BEE LAB LTD→ SC666717 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| IKDN LTD→ SC714070 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| INDUSTRIAL SEPARATION SERVICES LTD.→ SC348044 · est 2008 · no financials extracted | — | — | — | — | 17y | — | — |
| INFIX SUPPORT LIMITED→ SC641643 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| INNOTECH SHIPPING LTD→ SC708709 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| INSTRUMENT TRANSFORMERS LIMITED→ SC054448 · est 1973 · no financials extracted | — | — | — | — | 52y | — | — |
| INSULAM LIMITED→ SC106668 · est 1987 · no financials extracted | — | — | — | — | 38y | — | — |
| INTERNATIONAL TRANSFORMERS LIMITED→ SC657877 · est 2020 · no financials extracted | — | — | — | — | 6y | — | — |
| ISLAMIC MEMORIALS LIMITED→ SC857801 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| ISLE OF SEWING LTD→ SC820743 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| ITME LTD.→ SC258500 · est 2003 · no financials extracted | — | — | — | — | 22y | — | — |
| J-CAL INSULATION SERVICES LIMITED→ SC716167 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
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
Incorporated1980-05-14
Jurisdictionscotland
Primary SIC32990 — Other manufacturing n.e.c.
Registered office
2 Kelvin Park South
East Kilbride
Glasgow
G75 0RH
Filing status
Accounts
Next due: 2026-08-31
Last made up to: 2024-11-30
Confirmation statement
Next due: 2026-08-17
Last: 2025-08-03
Officers (1 active · 14 resigned)
PENMAN, Mark Anderson→
Activedirector · ~56y · appointed 2024-03-15
View their other companies + combined net worth →
CHURCH, Daniel Francis→
Resignedsecretary · appointed 2002-01-07 · resigned 2020-07-30
MACNEAL, Roderick James Robertson→
Resignedsecretary · appointed 2000-01-05 · resigned 2002-01-07
MCINTOSH, Maureen→
Resignedsecretary · resigned 1999-10-31
MINCHER, Barbara Anne→
Resignedsecretary · appointed 1999-11-01 · resigned 2000-01-05
MINCHER, James Ronnie→
Resignedsecretary · appointed 2020-07-30 · resigned 2023-09-07
HENDERSON, William Shields→
Resigneddirector · ~85y · appointed 2004-05-14 · resigned 2010-08-26
IRVING, Raymond Thomas→
Resigneddirector · ~71y · appointed 1993-01-01 · resigned 2005-06-02
MACNEAL, Roderick James Robertson→
Resigneddirector · ~72y · appointed 2000-01-05 · resigned 2002-01-07
MCINTOSH, Maureen→
Resigneddirector · ~80y · appointed 1992-02-03 · resigned 1999-10-31
MINCHER, Barbara Anne→
Resigneddirector · ~73y · appointed 2009-10-27 · resigned 2024-03-15
MINCHER, James Ronnie→
Resigneddirector · ~39y · appointed 2017-11-27 · resigned 2023-09-07
MINCHER, Ronnie James→
Resigneddirector · ~82y · resigned 2010-06-27
REID, William B→
Resigneddirector · ~94y · resigned 1997-03-31
WILSON, James Donald Gilmour→
Resigneddirector · ~64y · appointed 2024-03-15 · resigned 2025-12-10
Click a director name to see their full track record across all companies.
Mortgages & charges
9
Total charges
1
Outstanding
1
Active lenders
Status:Lender:9 of 9 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Igf Business Credit Igf Business Credit Limited | A registered charge | — | 21/02/2025 | — | |
| satisfied | Time Invoice Finance Time Invoice Finance Limited | A registered charge | — | 23/12/2021 | 11/02/2025 | |
| satisfied | Virgin Money Clydesdale Bank PLC | Debenture | 1 property | 28/10/2011 | 06/12/2021 | |
| satisfied | Virgin Money Clydesdale Bank PLC | Floating charge | 1 property | 25/10/2011 | 06/12/2021 | |
| satisfied | Ronnie James Mincher and Others as Trustees for Ceb Pension Fund | Floating charge | 1 property | 14/08/1992 | 19/02/1997 | |
| satisfied | Ronnie James Mincher and Others as Trustees for Glenalmond Pension Fund | Floating charge | 1 property | 14/08/1992 | 12/11/2009 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Letter of offset | 1 property | 08/03/1985 | 01/11/2011 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 13/02/1985 | 01/11/2011 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Letter of offset | 1 property | 13/02/1985 | 01/11/2011 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (165 total)
accounts-with-accounts-type-small
accounts · AA
2026-02-13
termination-director-company-with-name-termination-date
officers · TM01
2025-12-10
change-account-reference-date-company-previous-shortened
accounts · AA01
2025-11-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-08-04
accounts-with-accounts-type-small
accounts · AA
2025-04-11
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-02-21
mortgage-satisfy-charge-full
mortgage · MR04
2025-02-11
accounts-with-accounts-type-small
accounts · AA
2024-10-04
confirmation-statement-with-updates
confirmation-statement · CS01
2024-10-04
gazette-filings-brought-up-to-date
gazette · DISS40
2024-03-30
accounts-with-accounts-type-small
accounts · AA
2024-03-28
dissolved-compulsory-strike-off-suspended
dissolution · DISS16(SOAS)
2024-03-26
appoint-person-director-company-with-name-date
officers · AP01
2024-03-21
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2024-03-20
termination-director-company-with-name-termination-date
officers · TM01
2024-03-20