RESEARCH FISHING CO. LIMITED
🌳Matureactive
SC103453 · ltd · incorporated 1987-03-02
Investment thesis
Looks cheap but ownership + security both unclear — probable value trap.
Why interesting: Headline metrics may be attractive.
Why risky: No PSC visibility combined with multiple live charges; transacting likely slow and expensive.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2025
Net worth
—
book net assets
Opportunity
76/100
Strong
What this business does
Primary activity: SIC 03110
Sector: Agriculture, forestry & fishing
Investor take
PursueLeverage-led grower with a 87-year-old founder — textbook succession opportunity.
Opportunity 76/100 (strong), bankability 57/100. Strong seller-intent signal (63/100, director aged 87). Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (57/100).
🏦
Refinance opportunity
24 live charges · 7 lenders · oldest 38.6y
25/100
too messy
Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.
- · Oldest live charge is 38.6 years old — likely at or near maturity.
- · 7 lenders named — inter-creditor friction likely.
- · Legal-friction score 55/100 (high).
Data confidence
Overall: medium (64/100)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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
24 charges (24/24 with lender, 24/24 with type)
90
Directors & officers
15 officers (8 active, 15 linked, 12 with DOB)
86
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
1 connected companies via shared directors
48
Filing history
160 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation
Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.
Available from the Pro tier upwards.
See pricing →Opportunity Score
76/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
60
Adequate — check latest filings for context.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
74
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Profitable
Profit before tax £6,425,581
Key financials
1 year extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-06-30 |
|---|---|
| Profit before tax | £6.43M |
| Average employees | 0 |
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
0
filings
Last 90 days
2
filings
- • 1 accounts
- • 1 confirmation-statement
Last 180 days
2
filings
- • 1 accounts
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (70 events)Click to expand
- 2026-03-27📄accounts-with-accounts-type-fullaccounts · AA
- 2025-06-11📄appoint-person-secretary-company-with-name-dateofficers · AP03
- 2025-06-11📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2025-06-01➕SCOLLAY, John Magnus appointedsecretary
- 2025-05-30➖HENDERSON, Hazel Jane resignedsecretary
- 2025-04-03📄accounts-with-accounts-type-fullaccounts · AA
- 2024-01-31📄accounts-with-accounts-type-fullaccounts · AA
- 2023-12-27📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-12-12🔒Charge registered #27Lender: Clydesdale Bank PLC (Trading as Virgin Money)
- 2023-08-07📄capital-cancellation-sharescapital · SH06
- 2023-08-07📄capital-return-purchase-own-sharescapital · SH03
- 2023-01-26📄accounts-with-accounts-type-fullaccounts · AA
- 2022-08-24📄capital-return-purchase-own-sharescapital · SH03
- 2022-08-23📄capital-cancellation-sharescapital · SH06
- 2022-03-10📄accounts-with-accounts-type-fullaccounts · AA
- 2022-03-01📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-03-01🔓Charge satisfied #21
- 2022-01-31📄change-person-director-company-with-change-dateofficers · CH01
- 2021-08-31📄capital-cancellation-sharescapital · SH06
- 2021-08-31📄capital-return-purchase-own-sharescapital · SH03
- 2021-03-22📄accounts-with-accounts-type-fullaccounts · AA
- 2020-11-27📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2020-09-10📄capital-cancellation-sharescapital · SH06
- 2020-07-08➖POLSON, Alexander John resigneddirector
- 2018-11-02🔒Charge registered #26Lender: Clydesdale Bank PLC
- 2018-10-04🔒Charge registered #25Lender: Clydesdale Bank PLC
- 2018-10-04🔒Charge registered #24Lender: Clydesdale Bank PLC
- 2018-10-04🔒Charge registered #23Lender: Clydesdale Bank PLC
- 2018-09-26🔒Charge registered #22Lender: Clydesdale Bank PLC
- 2017-07-27🔓Charge satisfied #18
- 2017-07-27🔓Charge satisfied #13
- 2017-02-03➕WILLIAMSON, Michael Andrew appointeddirector
- 2016-12-09➖WILLIAMSON, William Andrew resigneddirector
- 2011-12-30🔒Charge registered #21Lender: Clydesdale Bank PLC
- 2011-09-26🔒Charge registered #20Lender: Clydesdale Bank PLC
- 2006-03-25🔓Charge satisfied #17
- 2006-03-25🔓Charge satisfied #16
- 2006-03-25🔓Charge satisfied #15
- 2006-03-25🔓Charge satisfied #14
- 2006-03-25🔓Charge satisfied #11
- 2006-03-25🔓Charge satisfied #9
- 2006-03-25🔓Charge satisfied #10
- 2006-03-25🔓Charge satisfied #8
- 2006-03-25🔓Charge satisfied #7
- 2006-03-25🔓Charge satisfied #5
- 2006-03-25🔓Charge satisfied #1
- 2004-02-17🔒Charge registered #19Lender: Clydesdale Bank Public Limited Company
- 2003-07-16🔒Charge registered #18Lender: Clydesdale Bank Public Limited Company
- 2002-11-04🔒Charge registered #17Lender: Clydesdale Bank Public Limited Company
- 2002-11-04🔒Charge registered #16Lender: Clydesdale Bank Public Limited Company
Showing most recent 50 of 70 events
Owner dependency
73/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- -7 active directors: Broader management team in place — suggests transferable governance.
- +Long-tenure founder: Senior director has been in place 36 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 87 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
80/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 87 years old. Natural succession window is now.
- primary20+ year tenure: Director in role 36 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
1 med · 1 lowCharge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
9 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
🔒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 · Agriculture · ZE postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| CHARISMA HOLDING COMPANY LIMITED→ SC207704 · est 2000 | £14.85M £11.42M–£18.28M | — | — | 0 | 25y | 80 | 75y |
| GRONIDAAL ORGANIC SMOLTS LTD.→ SC307638 · est 2006 | — | — | £396.2k | — | 19y | 83 | 82y |
| UNST SHELLFISH LTD.→ SC326121 · est 2007 | — | — | £180.6k | — | 18y | 83 | 61y |
| C & A THOMASON LTD.→ SC197920 · est 1999 | — | — | £217.5k | — | 26y | 82 | 88y |
| GUIDING LIGHT FISHING COMPANY LIMITED→ SC339799 · est 2008 | — | — | — | 2 | 18y | 82 | 58y |
| SHETLAND MARINE LIMITED→ SC398706 · est 2011 | — | — | — | 3 | 15y | 82 | 70y |
| SHETLAND SEAFOOD AUCTIONS LIMITED→ SC190378 · est 1998 | — | — | £408.2k | — | 27y | 82 | 62y |
| TINGWALL LIVESTOCK LIMITED→ SC285843 · est 2005 | — | — | £247.4k | — | 20y | 82 | 75y |
| ANDERSON BROS (VOE) LTD.→ SC246814 · est 2003 | — | — | £220.2k | — | 23y | 80 | 64y |
| BLUESHELL MUSSELS LIMITED→ SC254395 · est 2003 | — | — | £16.08M | — | 22y | 80 | 58y |
| COLLAFIRTH SEAFARMS LIMITED→ SC335991 · est 2008 | — | — | — | — | 18y | 80 | 70y |
| CRIBBA SOUND LTD.→ SC291896 · est 2005 | — | — | £113.0k | — | 20y | 80 | 58y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated1987-03-02
Jurisdictionscotland
Primary SIC03110 — SIC 03110
Registered office
Mair's Quay
Holmsgarth
Lerwick
Shetland
ZE1 0PW
Scotland
Filing status
Accounts
Next due: 2027-03-31
Last made up to: 2025-06-30
Confirmation statement
Next due: 2027-02-06
Last: 2026-01-23
Officers (8 active · 7 resigned)
SCOLLAY, John Magnus→
Activesecretary · appointed 2025-06-01
View their other companies + combined net worth →
Active
Active
Active
Active
WILLIAMSON, Michael Andrew→
Activedirector · ~60y · appointed 2017-02-03
View their other companies + combined net worth →
Active
WISHART, John Alexander→
Activedirector · ~60y · appointed 1989-12-01
View their other companies + combined net worth →
HENDERSON, Hazel Jane→
Resignedsecretary · appointed 1995-01-24 · resigned 2025-05-30
ROBERTSON, Linda→
Resignedsecretary · resigned 1994-10-28
POLSON, Alexander John→
Resigneddirector · ~76y · resigned 2020-07-08
POTTINGER, Robert→
Resigneddirector · ~66y · resigned 1990-05-07
WILLIAMSON, Robert George→
Resigneddirector · ~90y · resigned 1990-05-07
WILLIAMSON, William Andrew→
Resigneddirector · ~80y · resigned 2016-12-09
WISHART, John Alexander→
Resigneddirector · ~60y · resigned 1989-12-01
Click a director name to see their full track record across all companies.
Mortgages & charges
24
Total charges
9
Outstanding
1
Active lenders
Status:Lender:24 of 24 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Virgin Money Clydesdale Bank PLC (Trading as Virgin Money) | A registered charge | — | 12/12/2023 | — | |
| outstanding | Virgin Money Clydesdale Bank PLC | A registered charge | — | 02/11/2018 | — | |
| outstanding | Virgin Money Clydesdale Bank PLC | A registered charge | 1 property | 04/10/2018 | — | |
| outstanding | Virgin Money Clydesdale Bank PLC | A registered charge | — | 04/10/2018 | — | |
| outstanding | Virgin Money Clydesdale Bank PLC | A registered charge | 1 property | 04/10/2018 | — | |
| outstanding | Virgin Money Clydesdale Bank PLC | A registered charge | — | 26/09/2018 | — | |
| satisfied | Virgin Money Clydesdale Bank PLC | Mortgage of a ship | 1 property | 30/12/2011 | 01/03/2022 | |
| outstanding | Virgin Money Clydesdale Bank PLC | Floating charge | 1 property | 26/09/2011 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Deed of undertakings incorporating assignation | 1 property | 17/02/2004 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Ship mortgage | 1 property | 16/07/2003 | 27/07/2017 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Assignment | 2 properties | 04/11/2002 | 25/03/2006 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Assignment | 2 properties | 04/11/2002 | 25/03/2006 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Assignment | 2 properties | 04/11/2002 | 25/03/2006 | |
| satisfied | Trustees of the Shetland Development Trust | Deed of covenant | 1 property | 04/08/1998 | 25/03/2006 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Minute of agreement (incorporating assignation) | 1 property | 04/08/1997 | 27/07/2017 | |
| satisfied | The Trustees of the Shetland Development Trust | Mortgage | 1 property | 11/03/1997 | 25/03/2006 | |
| satisfied | Shetland Leasing and Property Developments Shetland Leasing and Property Developments Limited | Mortgage | 1 property | 13/02/1997 | 25/03/2006 | |
| satisfied | Shetland Leasing and Property Developments Shetland Leasing and Property Developments Limited | Mortgage | 1 property | 07/02/1997 | 25/03/2006 | |
| satisfied | Shetland Leasing and Property Developments Shetland Leasing and Property Developments Limited | Floating charge | 1 property | 05/02/1997 | 25/03/2006 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Mortgage | 1 property | 27/01/1997 | 25/03/2006 | |
| satisfied | The Trustees of the Shetland Development Trust | Floating charge | 1 property | 21/01/1997 | 25/03/2006 | |
| satisfied | John Hutchison Goodlad and Others as Trustees | Floating charge | 1 property | 12/05/1994 | 28/09/2002 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 13/04/1993 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Mortgage | 1 property | 12/10/1987 | 25/03/2006 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (160 total)
accounts-with-accounts-type-full
accounts · AA
2026-03-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-25
appoint-person-secretary-company-with-name-date
officers · AP03
2025-06-11
termination-secretary-company-with-name-termination-date
officers · TM02
2025-06-11
accounts-with-accounts-type-full
accounts · AA
2025-04-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-28
accounts-with-accounts-type-full
accounts · AA
2024-01-31
confirmation-statement-with-updates
confirmation-statement · CS01
2024-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-12-27
capital-cancellation-shares
capital · SH06
2023-08-07
capital-return-purchase-own-shares
capital · SH03
2023-08-07
accounts-with-accounts-type-full
accounts · AA
2023-01-26
confirmation-statement-with-updates
confirmation-statement · CS01
2023-01-25
capital-return-purchase-own-shares
capital · SH03
2022-08-24
capital-cancellation-shares
capital · SH06
2022-08-23