NORSE LIMITED
- 46900Non-specialised wholesale trade
Opportunity 72/100 (strong), bankability 55/100. Strong seller-intent signal (88/100, director aged 73). Share purchase looks the cleaner deal structure. Biggest value-creation lever: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: share sale to pe / searcher (45/100). Current lenders should be on monthly review.
Refinance opportunity
3 live charges · 2 lenders · oldest 40.8y
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 40.8 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · 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.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredKey financials
2 years extracted from filed iXBRL accountsHover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-03-31 | 2023-03-31 |
|---|---|---|
| Total assets | £3.66M | £3.76M |
| Current assets | £3.93M | £4.48M |
| Cash | £144.8k | £346.2k |
| Debtors | £3.04M | £3.17M |
| Net assets | £3.65M | £3.75M |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
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
- • 1 confirmation-statement
- • 1 accounts
Corporate timeline (25 events)Click to expand
- 2025-11-15📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-11-14📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-11-13📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-05-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-06-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-01-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-05-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2019-05-17🔒Charge registered #3Lender: Bank of Scotland PLC
- 2019-01-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-12-31📄accounts-with-accounts-type-fullaccounts · AA
- 2017-04-04📄accounts-with-accounts-type-mediumaccounts · AA
- 2016-02-01📄accounts-with-accounts-type-mediumaccounts · AA
- 2016-01-04📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2015-02-09📄accounts-with-accounts-type-mediumaccounts · AA
- 2015-01-02📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2015-01-02📄change-person-director-company-with-change-dateofficers · CH01
- 2003-01-18➕STRACHAN, Andrew appointedsecretary
- 2003-01-18➕STRACHAN, Andrew appointeddirector
- 2003-01-18➖STRACHAN, Margaret Ann resignedsecretary
- 2003-01-18➖STRACHAN, Margaret Ann resigneddirector
- 1987-06-22🔓Charge satisfied #1
- 1987-06-16🔓Charge satisfied #2
- 1985-08-27🔒Charge registered #2Lender: The Governor and Company of the Bank of Scotland
- 1985-07-11🔒Charge registered #1Lender: The Governor and Company of the Bank of Scotland
- 1984-07-06🏢Company incorporatedAs NORSE LIMITED
Owner dependency
The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
- +Long-tenure founder: Senior director has been in place 23 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 73 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
- primaryFounder aged 70+: Senior director is approximately 73 years old. Natural succession window is now.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- primary20+ year tenure: Director in role 23 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 42 years old and no new directors in the last 3 years — succession not yet being planned internally.
Red flags
1 high ·Statutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.
Evidence: Next due: 2026-03-31
Shareholders & ownership
1 active beneficial owner| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Wiiliam Charles Strachan Individual · British · DOB 11/1953 · age 73 | — | — | sig. influencesignificant influence | 31/12/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
See pricing →Similar companies
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|---|---|---|---|---|---|---|---|
| JOHN DAVIDSON (PIPES) LIMITED→ SC050397 · est 1972 | £15.21M £11.41M–£19.01M | £79.83M | — | 25000 | 54y | 83 | 61y |
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9 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 →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
Registered office
Filing status
Officers (3 active · 2 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 17/05/2019 | — | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Letter of offset | 1 property | 27/08/1985 | 16/06/1987 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 11/07/1985 | 22/06/1987 |