HILVOAK LIMITED
🌳Matureactive
SC098870 · ltd · incorporated 1986-05-07
Investment thesis
Property vehicle with leveraged stack — refinance / partial-release angle.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 39.1y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 79/100 (strong), bankability 85/100. Strong seller-intent signal (80/100, director aged 59). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
3 live charges · oldest 39.1y
85/100
ready
Refinance conversation should be productive — structure clean and timing right.
- · Oldest live charge is 39.1 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Legal-friction score 15/100 — clean.
Data confidence
Overall: high (82/100)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
75
Lenders & charges
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
6 officers (3 active, 6 linked, 4 with DOB)
83
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
11 connected companies via shared directors
78
Filing history
115 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 accountsCash
—
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 | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Average employees | 0 | 0 |
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
2
filings
- • 1 confirmation-statement
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (29 events)Click to expand
- 2025-12-08📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-11-12📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-11-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-10-03📄capital-name-of-class-of-sharescapital · SH08
- 2023-09-22📄memorandum-articlesincorporation · MA
- 2023-09-22📄resolutionresolution · RESOLUTIONS
- 2023-09-21📄capital-allotment-sharescapital · SH01
- 2022-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-12-09📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-12-04📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-11-16➖MERRY, Joan Stephen resigneddirector
- 2020-11-16📄termination-director-company-with-name-termination-dateofficers · TM01
- 2019-12-19📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-12-27📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-03-29📄mortgage-satisfy-charge-fullmortgage · MR04
- 2018-03-29📄mortgage-satisfy-charge-fullmortgage · MR04
- 2018-03-29🔓Charge satisfied #2
- 2018-03-29🔓Charge satisfied #1
- 2017-12-20📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2017-04-15🔓Charge satisfied #3
- 2016-05-16➕MERRY, Fraser Stephen appointedsecretary
- 2016-05-16➖MERRY, James Iain resignedsecretary
- 2016-05-16➖MERRY, James Iain resigneddirector
- 1998-12-31➕MERRY, Fraser Stephen appointeddirector
- 1998-12-31➕MERRY, Scott Iain appointeddirector
- 1998-11-06🔒Charge registered #3Lender: Clydesdale Bank Public Limited Company
- 1993-07-05🔒Charge registered #2Lender: Clydesdale Bank Public Limited Company
- 1987-04-01🔒Charge registered #1Lender: Clydesdale Bank Public Limited Company
- 1986-05-07🏢Company incorporatedAs HILVOAK LIMITED
Owner dependency
84/100
Critical — business is the founderThe 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 27 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
76/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- 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 27 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 40 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
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Fraser Stephen Merry Individual · British · DOB 01/1968 · age 58 | 25–50% | — | 25-50% shares | 06/04/2016 |
Mr Scott Iain Merry Individual · British · DOB 01/1967 · age 59 | 25–50% | — | 25-50% shares | 06/04/2016 |
1 historic (ceased) PSC
- Mrs Joan Stephen Merryceased 07/02/2017· 25-50% shares
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 · Property · DD postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| K & R WALTON LTD→ SC823236 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| KEARRA LIMITED→ SC821110 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| KENNETH PROPERTY LTD→ SC639536 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| KEO PROPERTY LTD→ SC693546 · est 2021 · no financials extracted | — | — | — | — | 5y | — | — |
| KEY PROPERTY MANAGEMENT LTD→ SC643303 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| KIERAN FREEMAN PROPERTIES LTD→ SC857171 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| KILCONQUHAR CASTLE ESTATE LIMITED→ SC054046 · est 1973 · no financials extracted | — | — | — | — | 52y | — | — |
| KINBURN PROPERTIES LIMITED→ SC827268 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| KINGENNIE HOLDINGS LIMITED→ SC268466 · est 2004 · no financials extracted | — | — | — | — | 21y | — | — |
| KINGFISHER PROPERTY (SCOTLAND) LIMITED→ SC616018 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| KINGSMUIR LIMITED→ SC497496 · est 2015 · no financials extracted | — | — | — | — | 11y | — | — |
| KINLOCH PROPERTIES LIMITED→ SC232129 · est 2002 · no financials extracted | — | — | — | — | 23y | — | — |
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
Incorporated1986-05-07
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
25 Albany Road
Broughty Ferry
Dundee
DD5 1NU
Scotland
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-01-03
Last: 2025-12-20
Officers (3 active · 3 resigned)
MERRY, Fraser Stephen→
Activesecretary · appointed 2016-05-16
View their other companies + combined net worth →
MERRY, Fraser Stephen→
Activedirector · ~58y · appointed 1998-12-31
View their other companies + combined net worth →
MERRY, Scott Iain→
Activedirector · ~59y · appointed 1998-12-31
View their other companies + combined net worth →
MERRY, James Iain→
Resignedsecretary · resigned 2016-05-16
MERRY, James Iain→
Resigneddirector · ~84y · resigned 2016-05-16
MERRY, Joan Stephen→
Resigneddirector · ~85y · resigned 2020-11-16
Click a director name to see their full track record across all companies.
Mortgages & charges
3
Total charges
0
Outstanding
0
Active lenders
Status:Lender:3 of 3 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 06/11/1998 | 15/04/2017 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 05/07/1993 | 29/03/2018 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 01/04/1987 | 29/03/2018 |
Recent filings (115 total)
confirmation-statement-with-updates
confirmation-statement · CS01
2026-01-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-21
capital-name-of-class-of-shares
capital · SH08
2023-10-03
memorandum-articles
incorporation · MA
2023-09-22
resolution
resolution · RESOLUTIONS
2023-09-22
capital-allotment-shares
capital · SH01
2023-09-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-01-20