SPYNIE FARMERS LIMITED

🌳Matureactive

SC113051 · ltd · incorporated 1988-08-25

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.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Dec 2025

Net worth

£-8.1k

book net assets

Opportunity

81/100

Exceptional

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What this business does

Primary activity: SIC 01500

Sector: Agriculture, forestry & fishing

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 81/100 (exceptional), bankability 75/100. Strong seller-intent signal (70/100, director aged 61). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

Data confidence

Overall: high (81/100)

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

Confirmed no charges registered

Directors & officers

7 officers (3 active, 7 linked, 5 with DOB)

Ownership & PSC

2 active PSC(s) of 2 total, 2 with control declared

Director network

8 connected companies via shared directors

Filing history

116 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

81/100Exceptional

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

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Negative net assets

Liabilities exceed assets by £8,082

Very low cash

Cash position: £46

Cash YoY

+0%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£46

~ YoY

Net Worth

-£8k

~ YoY

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-12-31	2024-12-31
Cash	£46	£46
Net assets	£-8.1k	£-8.1k

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

filings

• 1 confirmation-statement
• 1 accounts
• 1 officers

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts
• 1 officers

Counts from Companies House filing history.

Corporate timeline (29 events)Click to expand

2026-03-25
📄
accounts-with-accounts-type-dormant
accounts · AA
2026-03-19
📄
change-person-director-company-with-change-date
officers · CH01
2025-05-23
📄
accounts-with-accounts-type-dormant
accounts · AA
2025-03-27
📍
move-registers-to-registered-office-company-with-new-address
address · AD04
2025-03-27
📄
change-person-director-company-with-change-date
officers · CH01
2025-03-27
📄
change-person-director-company-with-change-date
officers · CH01
2025-03-27
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-05-31
📄
accounts-with-accounts-type-dormant
accounts · AA
2024-03-19
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-03-19
📄
change-person-director-company-with-change-date
officers · CH01
2024-03-19
📄
change-person-director-company-with-change-date
officers · CH01
2024-03-14
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-10-30
📄
accounts-with-accounts-type-dormant
accounts · AA
2023-05-22
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2022-07-08
📄
accounts-with-accounts-type-dormant
accounts · AA
2021-05-24
📄
accounts-with-accounts-type-dormant
accounts · AA
2020-05-01
📄
accounts-with-accounts-type-dormant
accounts · AA
2020-04-14
📄
change-corporate-secretary-company-with-change-date
officers · CH04
2020-04-14
📄
change-corporate-secretary-company-with-change-date
officers · CH04
2007-06-04
➖
DUNBAR, Alexander Arbuthnott resigned
director
2004-09-13
➕
RUSSELL, Clodagh Rebecca Helen appointed
director
2001-09-11
➕
TURCAN CONNELL WS appointed
corporate-secretary
2001-09-10
➖
BURNESS SOLICITORS resigned
corporate-nominee-secretary
1990-05-02
➖
RAFFERTY, John Campbell resigned
nominee-director
1990-05-02
➖
WOOD, Malcolm James resigned
nominee-director
1988-08-25
🏢
Company incorporated
As SPYNIE FARMERS LIMITED
1988-08-25
➕
BURNESS SOLICITORS appointed
corporate-nominee-secretary
1988-08-25
➕
RAFFERTY, John Campbell appointed
nominee-director
1988-08-25
➕
WOOD, Malcolm James appointed
nominee-director

Owner dependency

76/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
+Long-tenure founder: Senior director has been in place 22 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 61 — approaching natural succession window.

Succession & seller-readiness

76/100

Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
primary20+ year tenure: Director in role 22 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 38 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

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Crinan James Dunbar Individual · British · DOB 11/1965 · age 61	25–50%	—	25-50% shares · trust interest	06/04/2016
Mrs Clodagh Rebecca Helen Russell Individual · British · DOB 11/1968 · age 58	25–50%	—	25-50% shares · trust interest	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 · Agriculture · IV postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
ASSYNT CROFTERS TRUST LIMITED→ SC140205 · est 1992	—	—	—	3	33y	83	88y
BLUE MOTION FISHING CO. LIMITED→ SC357414 · est 2009	—	—	£762.9k	—	17y	83	62y
BURGIE LODGE FARMS LIMITED→ SC031556 · est 1956	—	—	£1.67M	—	69y	83	73y
CAWDOR FORESTRY LIMITED→ SC218848 · est 2001	—	—	£468.9k	—	24y	83	64y
DINGWALL & HIGHLAND MARTS LIMITED→ SC154876 · est 1994	—	—	—	39	31y	83	81y
EASTER ROSS FARMERS LIMITED→ SC060125 · est 1976	—	—	—	100	49y	83	95y
GLENROSSAL LIMITED→ SC351176 · est 2008	—	—	£2.77M	—	17y	83	88y
KINGSBURGH FOREST TRUST→ SC227429 · est 2002 · no financials extracted	—	—	—	—	24y	83	75y
MJM (FARMERS) LIMITED→ SC288996 · est 2005	—	—	£1.80M	—	20y	83	71y
STRATHNAIRN COMMUNITY WOODLANDS→ SC228026 · est 2002 · no financials extracted	—	—	—	—	24y	83	71y
ACHLAIN ESTATES LIMITED→ SC138631 · est 1992	—	—	—	200	33y	82	67y
BRAHAN FARMS LIMITED→ SC048495 · est 1971	—	—	—	400	55y	82	84y

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

Incorporated1988-08-25

Jurisdictionscotland

Primary SIC01500 — SIC 01500

Registered office

Spynie Farms Office

Maryfield Steading

Elgin

Moray

IV30 5PG

Scotland

Filing status

Accounts

Next due: 2027-09-30

Last made up to: 2025-12-31

Confirmation statement

Next due: 2027-04-02

Last: 2026-03-19

Officers (3 active · 4 resigned)

TURCAN CONNELL WS→

corporate-secretary · appointed 2001-09-11

View their other companies + combined net worth →

Active

DUNBAR, Crinan James→

director · ~61y

View their other companies + combined net worth →

Active

RUSSELL, Clodagh Rebecca Helen→

director · ~58y · appointed 2004-09-13

View their other companies + combined net worth →

Active

BURNESS SOLICITORS→

corporate-nominee-secretary · appointed 1988-08-25 · resigned 2001-09-10

Resigned

DUNBAR, Alexander Arbuthnott→

director · ~97y · resigned 2007-06-04

Resigned

RAFFERTY, John Campbell→

nominee-director · ~95y · appointed 1988-08-25 · resigned 1990-05-02

Resigned

WOOD, Malcolm James→

nominee-director · ~71y · appointed 1988-08-25 · resigned 1990-05-02

Resigned

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

Recent filings (116 total)

confirmation-statement-with-updates

confirmation-statement · CS01

2026-03-25

accounts-with-accounts-type-dormant

accounts · AA

2026-03-25

change-person-director-company-with-change-date

officers · CH01

2026-03-19

accounts-with-accounts-type-dormant

accounts · AA

2025-05-23

confirmation-statement-with-updates

confirmation-statement · CS01

2025-03-27

move-registers-to-registered-office-company-with-new-address

address · AD04

2025-03-27

change-person-director-company-with-change-date

officers · CH01

2025-03-27

change-person-director-company-with-change-date

officers · CH01

2025-03-27

change-to-a-person-with-significant-control

persons-with-significant-control · PSC04

2025-03-27

accounts-with-accounts-type-dormant

accounts · AA

2024-05-31

confirmation-statement-with-updates

confirmation-statement · CS01

2024-03-20

change-to-a-person-with-significant-control

persons-with-significant-control · PSC04

2024-03-19

change-person-director-company-with-change-date

officers · CH01

2024-03-19

change-person-director-company-with-change-date

officers · CH01

2024-03-19

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2024-03-14