NORSCOT SEAFOODS LIMITED

🌳Matureactive

SC078781 · ltd · incorporated 1982-05-20

Investment thesis

Well-run mature business — low negotiation leverage; premium likely.

Why interesting: Textbook target; clean filings, stable trading.

Why risky: No pressure on seller; any deal likely at full price.

Why now

Window steady · low confidence

Steady and tidy — no seller pressure yet. Approach only if an angle opens.

Opportunity decay

hardening · 12-months

Already tight — no obvious softening catalysts on the horizon.

· Thesis: well-run, low negotiation leverage

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

—

year to Dec 2024

Net worth

£1.14M

book net assets

Opportunity

78/100

Strong

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What this business does

Primary activity: SIC 47230

Sector: Wholesale & retail

Investor take

Pursue

Asset-holding vehicle. Family succession underway — not a classic acquisition target.

Opportunity 78/100 (strong), bankability 77/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

3 live charges · 3 lenders · oldest 40.9y

15/100

under pressure

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

· Oldest live charge is 40.9 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Cashflow trend is negative — lender view likely cautious.

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

Lenders & charges

3 charges (3/3 with lender, 3/3 with type)

Directors & officers

7 officers (6 active, 7 linked, 6 with DOB)

Ownership & PSC

3 active PSC(s) of 5 total, 5 with control declared

Director network

1 connected companies via shared directors

Filing history

112 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

78/100Strong

PassWatchWorth a lookStrongExceptional

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £1,143,664

Net assets shrinking

Down £230,353 YoY

Cash draining

Cash down 40% YoY

Cash YoY

-40%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£190k

↓ 40% YoY

Net Worth

£1.1m

↓ 17% YoY

Current Assets

£1.0m

↓ 28% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-12-31	2023-12-31
Total assets	£1.30M	£1.46M
Current assets	£1.02M	£1.42M
Cash	£189.8k	£317.1k
Debtors	£703.3k	£986.3k
Net assets	£1.14M	£1.37M

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

filings

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filing

• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (30 events)Click to expand

2025-10-13
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-13
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-10-01
➕
BRECKENRIDGE, Stefanie appointed
director
2025-10-01
➕
MORRISON, Donna Maria appointed
director
2025-09-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-09-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-29
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-18
📄
capital-name-of-class-of-shares
capital · SH08
2023-07-13
📄
memorandum-articles
incorporation · MA
2023-07-13
📄
resolution
resolution · RESOLUTIONS
2023-07-13
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-07-13
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2023-07-13
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2022-09-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-29
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-06-30
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-06-30
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2020-11-13
📄
termination-director-company-with-name-termination-date
officers · TM01
2020-06-17
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-05-27
➖
MORRISON, Donald Mackay resigned
director
2020-05-27
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2019-11-25
➕
MORRISON, Daniel John Archibald appointed
director
2019-11-25
➕
MUNRO, Jacqui-Anne appointed
director
2015-09-29
🔓
Charge satisfied #3
2015-09-29
🔓
Charge satisfied #2
2015-09-29
🔓
Charge satisfied #1
2009-03-16
🔒
Charge registered #3
Lender: Royal Bank of Scotland PLC
1988-08-11
🔒
Charge registered #2
Lender: The Governor and Company of the Bank of Scotland
1985-08-15
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
1982-05-20
🏢
Company incorporated
As NORSCOT SEAFOODS LIMITED

Owner dependency

63/100

High — earn-out structure required

Material 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.
+Founder age: Director aged approximately 72 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

20/100

No succession signal

No meaningful acquirability indicators from public data.

SIGNALS

primaryFamily succession underway: Not a takeover target — MORRISON, Donna Maria (same surname) appointed 2025-10-01. Pattern consistent with intra-family handover.
primaryFounder aged 70+: Senior director is approximately 72 years old. Natural succession window is now.

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

3 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Daniel John Archibald Morrison Individual · British · DOB 08/1988 · age 38	25–50%	25–50%	25-50% shares · 25-50% voting	06/07/2023
Mrs Jacqui Anne Munro Individual · British · DOB 12/1977 · age 49	—	25–50%	25-50% voting	06/07/2023
Mrs Joan Morrison Individual · British · DOB 11/1954 · age 72	25–50%	—	25-50% shares	28/05/2020

2 historic (ceased) PSCs

Mr Donald Mackay Morrisonceased 27/05/2020· 25-50% shares · 25-50% voting
Mrs Joan Morrisonceased 20/12/2019· 25-50% shares · 25-50% 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.

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Similar companies

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BONK & CO. LIMITED→ SC064104 · est 1978	—	—	—	18	48y	83	65y
INVERNESS GOLF CENTRE LIMITED→ SC187445 · est 1998	—	—	£293.8k	—	27y	83	63y
PHOENIX FINDHORN C.I.C.→ SC155512 · est 1995 · no financials extracted	—	—	—	—	31y	83	70y
WE FRAME IT LTD.→ SC231494 · est 2002	—	—	£168.2k	—	24y	83	64y
AC & IC FRASER & SON LIMITED→ SC216589 · est 2001	—	—	£1.79M	—	25y	82	75y
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C.D.L.T. MANAGEMENT SERVICES LIMITED→ SC117333 · est 1989 · no financials extracted	—	—	—	—	37y	82	79y
DALLAS DESIGNS LTD→ SC319375 · est 2007	—	—	—	500	19y	82	65y
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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.

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Company details

Statusactive

Typeltd

Incorporated1982-05-20

Jurisdictionscotland

Primary SIC47230 — SIC 47230

Registered office

Cairn-Nulla

Burnside

Riconich, Lairg

Sutherland

IV27 4RP

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2027-06-09

Last: 2026-05-26