NIKKORD LIMITED

🌳Matureactive

SC085773 · ltd · incorporated 1983-12-01

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

Why now

Window steady · low confidence

Stable recent picture — watch for any upcoming trigger event.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 42.5y old — refinance window within 12 months

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 Aug 2025

Net worth

—

book net assets

Opportunity

82/100

Exceptional

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: SIC 38320

Sector: Water supply & waste

Investor take

Pursue

Active trading company. Family succession underway — not a classic acquisition target.

Opportunity 82/100 (exceptional), bankability 80/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 2 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

2 live charges · oldest 42.5y

65/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Oldest live charge is 42.5 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: high (86/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 1 SIC codes, incorporation date

100

Financials

3 years of iXBRL accounts extracted + narrative notes parsed

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

5 officers (2 active, 5 linked, 4 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

3 connected companies via shared directors

Filing history

98 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

82/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

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.

Key financials

3 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-08-31	2024-08-31	2023-08-31
Average employees	2	200	200

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

2 signals 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 accounts

Last 180 days

filings

• 1 accounts
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (23 events)Click to expand

2026-05-28
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-01-12
➕
WAUGH, Louise Alison appointed
director
2026-01-12
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-12-19
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-18
➖
WAUGH, Agnes resigned
director
2025-04-22
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-16
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-25
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-08-31
📄
accounts-with-accounts-type-small
accounts · AA
2021-05-28
📄
accounts-with-accounts-type-small
accounts · AA
2020-06-01
📄
accounts-with-accounts-type-small
accounts · AA
2019-04-04
📄
accounts-with-accounts-type-small
accounts · AA
2018-04-13
📄
accounts-with-accounts-type-small
accounts · AA
2017-06-06
📄
accounts-with-accounts-type-small
accounts · AA
2017-02-02
📄
change-person-director-company-with-change-date
officers · CH01
2017-02-02
📄
change-person-director-company-with-change-date
officers · CH01
2016-04-19
📄
accounts-with-accounts-type-small
accounts · AA
2014-11-05
➖
WAUGH, David John resigned
secretary
2014-11-05
➖
WAUGH, David John resigned
director
1998-07-16
🔒
Charge registered #2
Lender: Clydesdale Bank Public Limited Company
1997-10-20
➕
WAUGH, Alan Martin appointed
director
1984-01-09
🔒
Charge registered #1
Lender: Clydesdale Bank Public Limited Company
1983-12-01
🏢
Company incorporated
As NIKKORD LIMITED

Owner dependency

84/100

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

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
+Long-tenure founder: Senior director has been in place 29 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 59 — approaching natural succession window.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

26/100

Weak signal

Limited succession signal. Not a near-term off-market candidate.

SIGNALS

primaryFamily succession underway: Not a takeover target — WAUGH, Louise Alison (same surname) appointed 2026-01-12. Pattern consistent with intra-family handover.
secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
primary20+ year tenure: Director in role 29 years. Very long tenure is a classic succession signal.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

clean

No 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

Name	Shares	Voting rights	Nature of control	Notified
Mr Alan Martin Waugh Individual · British · DOB 12/1967 · age 59	50–75%	—	50-75% shares	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 · Energy & utilities · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
CATCHMENT TAY LIMITED→ SC186492 · est 1998	£33.06M £23.80M–£42.31M	—	—	0	28y	80	61y
DALTON GROUP LIMITED→ SC088385 · est 1984	£6.78M £4.88M–£8.68M	—	—	6500	42y	82	39y
AW JENKINSON (WOODWASTE) LIMITED→ SC166685 · est 1996	£2.98M £2.14M–£3.81M	£11.23M	—	3600	30y	85	64y
BENMORE ESTATE LIMITED→ SC192048 · est 1998	—	—	£18.74M	—	27y	83	66y
ELIOCK HYDRO ELECTRIC COMPANY LIMITED→ SC133236 · est 1991	—	—	—	100	34y	82	68y
FORTH RESOURCE MANAGEMENT LIMITED→ SC229855 · est 2002	—	—	—	54	24y	82	64y
GREENSPAN ELECTRIC BALQUHINDACHY LIMITED→ SC357454 · est 2009	—	—	£753.6k	—	17y	82	59y
GREENSPAN ELECTRIC CAIRNMORE LIMITED→ SC357453 · est 2009	—	—	£571.6k	—	17y	82	59y
GREENSPAN ELECTRIC ST. FERGUS LIMITED→ SC366660 · est 2009	—	—	£228.8k	—	16y	82	59y
SCOTTISH WATER BUSINESS STREAM LIMITED→ SC294924 · est 2005 · no financials extracted	—	—	—	—	20y	82	62y
STRATHMORE ESTATES DEVELOPMENT LIMITED→ SC266274 · est 2004	—	—	—	200	22y	82	69y
WILLIAM WAUGH (EDINBURGH) LIMITED→ SC075659 · est 1981	—	—	—	23	44y	82	59y

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

6 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

Incorporated1983-12-01

Jurisdictionscotland

Primary SIC38320 — SIC 38320

Registered office

12 West Harbour Road

Edinburgh

Midlothian

EH5 1PH

Filing status

Accounts

Next due: 2027-05-31

Last made up to: 2025-08-31

Confirmation statement

Next due: 2027-02-09

Last: 2026-01-26

Officers (2 active · 3 resigned)

WAUGH, Alan Martin→

director · ~59y · appointed 1997-10-20

View their other companies + combined net worth →

Active

WAUGH, Louise Alison→

director · ~42y · appointed 2026-01-12

View their other companies + combined net worth →

Active

WAUGH, David John→

secretary · resigned 2014-11-05

Resigned

WAUGH, Agnes→

director · ~83y · resigned 2025-12-18

Resigned

WAUGH, David John→

director · ~86y · resigned 2014-11-05

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:2 of 2 shown

			Type	Properties
	outstanding	Virgin Money Clydesdale Bank Public Limited Company	Standard security	2 properties	16/07/1998	—
	outstanding	Virgin Money Clydesdale Bank Public Limited Company	Floating charge	1 property	09/01/1984	—

Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (98 total)

accounts-with-accounts-type-total-exemption-full

accounts · AA

2026-05-28

confirmation-statement-with-no-updates

confirmation-statement · CS01

2026-02-06

appoint-person-director-company-with-name-date

officers · AP01

2026-01-12

termination-director-company-with-name-termination-date

officers · TM01

2025-12-19

accounts-with-accounts-type-total-exemption-full

accounts · AA

2025-04-22

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-02-04

accounts-with-accounts-type-total-exemption-full

accounts · AA

2024-05-16

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-02-02

accounts-with-accounts-type-total-exemption-full

accounts · AA

2023-05-25

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-01-26

accounts-with-accounts-type-small

accounts · AA

2022-08-31

confirmation-statement-with-no-updates

confirmation-statement · CS01

2022-01-26

accounts-with-accounts-type-small

accounts · AA

2021-05-28

confirmation-statement-with-no-updates

confirmation-statement · CS01

2021-01-26

accounts-with-accounts-type-small

accounts · AA

2020-06-01