NORTH SEA FINANCE LIMITED

💤Zombieactive
SC074074 · ltd · incorporated 1981-03-04
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
—
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: Non-trading company
Sector: Professional, scientific & technical
Investor take
Pursue
Dormant / non-trading with a 62-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 75/100. Strong seller-intent signal (80/100, director aged 62). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 35.0y

30/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 35.0 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (79/100)

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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
8 officers (1 active, 8 linked, 5 with DOB)
83
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
122 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.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
-£112k-£72k-£32k£8k£48k£89kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets—£-112.4k
Current assets—£88.5k
Net assets—£-112.4k
Average employees0—

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
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (37 events)Click to expand
  1. 2025-12-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-11-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-05-11
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2022-12-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2021-12-21
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2021-06-01
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  7. 2021-05-31
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-05-25
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  9. 2019-09-11
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2018-12-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2018-11-17
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  12. 2018-11-16
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  13. 2018-10-09
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  14. 2017-12-02
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  15. 2017-11-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2017-10-24
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  17. 2012-02-24
    ➖
    CHISHOLM, James Stuart resigned
    secretary
  18. 2012-02-24
    ➖
    CHISHOLM, James Stuart resigned
    director
  19. 2009-07-09
    ➕
    CHISHOLM, James Stuart appointed
    secretary
  20. 2009-07-09
    ➕
    CHISHOLM, James Stuart appointed
    director
  21. 2009-06-28
    ➖
    CHISHOLM, James Stewart resigned
    secretary
  22. 2009-06-28
    ➖
    CHISHOLM, James Stewart resigned
    director
  23. 2007-06-30
    🔓
    Charge satisfied #4
  24. 2007-01-30
    ➕
    CHISHOLM, Michael Stewart appointed
    director
  25. 2006-01-13
    ➖
    CHISHOLM, Charles Angus Ward resigned
    director
  26. 2003-06-18
    ➖
    CHISHOLM, Sarah Rae King resigned
    director
  27. 1992-02-05
    🔓
    Charge satisfied #2
  28. 1992-02-05
    🔓
    Charge satisfied #1
  29. 1991-12-16
    🔒
    Charge registered #3
    Lender: The Governor and Company of the Bank of Scotland
  30. 1991-12-12
    🔒
    Charge registered #4
    Lender: The Governor and Company of the Bank of Scotland
  31. 1991-05-01
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  32. 1991-04-18
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  33. 1990-12-01
    ➖
    BAXTER, William Alasdair resigned
    secretary
  34. 1990-12-01
    ➕
    CHISHOLM, James Stewart appointed
    secretary
  35. 1990-12-01
    ➕
    CHISHOLM, Charles Angus Ward appointed
    director
  36. 1990-12-01
    ➕
    CHISHOLM, Sarah Rae King appointed
    director
  37. 1981-03-04
    🏢
    Company incorporated
    As NORTH SEA FINANCE LIMITED

Owner dependency

93/100
Critical — business is the founder

The 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 62 — approaching natural succession window.

Succession & seller-readiness

78/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 62. 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 45 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
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 · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Michael Stewart Chisholm
Individual · British · DOB 11/1964 · age 62
75–100%
—75-100% shares01/07/2016

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 →

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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
Incorporated1981-03-04
Jurisdictionscotland
Primary SIC74990 — Non-trading company

Registered office

Control Centre West Quarry
West Laroch
Ballachulish
PH49 4JP
Scotland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-08-06
Last: 2025-07-23

Officers (1 active · 7 resigned)

CHISHOLM, Michael Stewart→
director · ~62y · appointed 2007-01-30
View their other companies + combined net worth →
Active
BAXTER, William Alasdair→
secretary · resigned 1990-12-01
Resigned
CHISHOLM, James Stuart→
secretary · appointed 2009-07-09 · resigned 2012-02-24
Resigned
CHISHOLM, James Stewart→
secretary · appointed 1990-12-01 · resigned 2009-06-28
Resigned
CHISHOLM, Charles Angus Ward→
director · ~72y · appointed 1990-12-01 · resigned 2006-01-13
Resigned
CHISHOLM, James Stuart→
director · ~74y · appointed 2009-07-09 · resigned 2012-02-24
Resigned
CHISHOLM, James Stewart→
director · ~97y · resigned 2009-06-28
Resigned
CHISHOLM, Sarah Rae King→
director · ~92y · appointed 1990-12-01 · resigned 2003-06-18
Resigned

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

Mortgages & charges

4
Total charges
1
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property16/12/1991—
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Floating charge1 property12/12/199130/06/2007
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property01/05/199105/02/1992
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property18/04/199105/02/1992
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (122 total)

accounts-with-accounts-type-micro-entity
accounts · AA
2025-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-07-30
accounts-with-accounts-type-micro-entity
accounts · AA
2024-11-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-08-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-19
accounts-with-accounts-type-micro-entity
accounts · AA
2023-05-11
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-08-24
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-09-17
gazette-filings-brought-up-to-date
gazette · DISS40
2021-06-01
accounts-with-accounts-type-micro-entity
accounts · AA
2021-05-31
gazette-notice-compulsory
gazette · GAZ1
2021-05-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-09-24
accounts-with-accounts-type-micro-entity
accounts · AA
2019-09-11