UNITED CENTRAL BAKERIES LIMITED
💤Zombieactive
SC116630 · ltd · incorporated 1989-03-07
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
Why now
Window steady · high confidence
Thesis has shifted recently — watch for confirmation.
- · Lifecycle stage: mature → zombie
- · Investment thesis: well_run_hard_buy → zombie_hold
- · Deal-killer verdict: clean → workable
- · Hygiene score: 90 → 85
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
- · Lifecycle stage drifting downward
- · Currently "zombie"
What changed my view
Last 30 days
Picture worsened over the last 30 days — 3 negative signals vs 1 positive.
- ↓Lifecycle stage: mature → zombie
- ·Investment thesis: well_run_hard_buy → zombie_hold
- ↑Deal-killer verdict: clean → workable
- ↓Hygiene score: 90 → 85
- ↓Refinance opportunity: too_messy → under_pressure
Last 90 days
Picture worsened over the last 90 days — 3 negative signals vs 1 positive.
- ↓Lifecycle stage: mature → zombie
- ·Investment thesis: well_run_hard_buy → zombie_hold
- ↑Deal-killer verdict: clean → workable
- ↓Hygiene score: 90 → 85
- ↓Refinance opportunity: too_messy → under_pressure
Last 180 days
No snapshot from 180 days ago — start tracking from today.
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: Manufacture of bread; manufacture of fresh pastry goods and cakes
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with strong profile and acceptable with review structure.
Opportunity 73/100 (strong), bankability 67/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 11 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (38/100).
🏦
Refinance opportunity
40 live charges · 11 lenders · oldest 37.0y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 37.0 years old — likely at or near maturity.
- · 11 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (58/100)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
No iXBRL financials extracted
0
Lenders & charges
40 charges (40/40 with lender, 40/40 with type)
90
Directors & officers
36 officers (2 active, 36 linked, 28 with DOB)
86
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
6 connected companies via shared directors
63
Filing history
310 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
2
filings
- • 2 officers
Last 180 days
3
filings
- • 2 officers
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (167 events)Click to expand
- 2026-06-18📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-06-02➖WRENCH, Simon Edward resigneddirector
- 2026-05-18📄change-corporate-secretary-company-with-change-dateofficers · CH04
- 2025-08-19📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2025-08-19📄legacyaccounts · PARENT_ACC
- 2025-08-13📄legacyaccounts · PARENT_ACC
- 2025-08-12📄legacyother · AGREEMENT2
- 2025-08-12📄legacyother · GUARANTEE2
- 2025-04-11📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2025-04-11📄legacyaccounts · PARENT_ACC
- 2025-04-11📄legacyother · AGREEMENT2
- 2025-04-11📄legacyother · GUARANTEE2
- 2025-01-08📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-01-01➕HANN, Stephen Paul Charles appointeddirector
- 2024-10-07📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-10-01➖SMART, Adam David resigneddirector
- 2024-03-14➕WRENCH, Simon Edward appointeddirector
- 2024-03-14📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-03-13📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2024-03-13📄legacyaccounts · PARENT_ACC
- 2024-03-13📄legacyother · AGREEMENT2
- 2024-03-13📄legacyother · GUARANTEE2
- 2024-03-07📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-03-05📄legacyother · AGREEMENT2
- 2024-03-05📄legacyother · GUARANTEE2
- 2024-01-31➖SHIELS, Gary resigneddirector
- 2023-07-07📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-07-03🔒Charge registered #46Lender: Shawbrook Bank Limited
- 2023-04-11➕SMART, Adam David appointeddirector
- 2023-04-06➖QUINN, Peter resigneddirector
- 2023-01-26🔒Charge registered #45Lender: Shawbrook Bank Limited
- 2022-12-21🔒Charge registered #44Lender: Shawbrook Bank Limited
- 2022-12-05➕SHIELS, Gary appointeddirector
- 2022-12-05➖STEEL, Irene Agnes resigneddirector
- 2021-08-31➖BRUCE-GARDYNE, Lucinda Emma Kate resigneddirector
- 2021-08-31➕STEEL, Irene Agnes appointeddirector
- 2020-01-01➖BRADLEY, Jeremy Peter resigneddirector
- 2020-01-01➕QUINN, Peter appointeddirector
- 2019-03-29🔓Charge satisfied #35
- 2019-03-29🔓Charge satisfied #34
- 2019-03-29🔓Charge satisfied #33
- 2019-03-20🔓Charge satisfied #43
- 2019-03-20🔓Charge satisfied #40
- 2019-03-20🔓Charge satisfied #39
- 2019-03-20🔓Charge satisfied #37
- 2019-03-20🔓Charge satisfied #36
- 2017-02-23➕BRUCE-GARDYNE, Lucinda Emma Kate appointeddirector
- 2017-02-23➖CUSCHIERI, Roz resigneddirector
- 2016-10-01➕BRADLEY, Jeremy Peter appointeddirector
- 2016-07-27➖MORSE, Stella Helen resigneddirector
Showing most recent 50 of 167 events
Owner dependency
75/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Sole director: Only one active director — all governance concentrated on one person.
Succession & seller-readiness
45/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
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.
Group structure
United Bakeries (Bathgate) Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
United Bakeries (Bathgate) Limited
Corporate parent · holds 75-100% shares
⬇
UNITED CENTRAL BAKERIES LIMITED
This company · SC116630
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
United Bakeries (Bathgate) Limited Corporate entity | 75–100% | 75–100% | 75-100% shares · 75-100% voting | 30/06/2016 |
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 · Food & drink · EH postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| BRODIE MELROSE DRYSDALE & CO. LIMITED→ SC201590 · est 1999 | £1.45M £1.07M–£1.84M | £8.61M | — | 3300 | 26y | 84 | 63y |
| HAMLYNS OF SCOTLAND LIMITED→ SC176949 · est 1997 | £99.9k £73.6k–£126.2k | £27.47M | — | 5400 | 29y | 86 | 80y |
| SALTIRE PATISSERIE LTD.→ SC295828 · est 2006 | — | — | — | 15 | 20y | 83 | 63y |
| THE PREMIUM BAKERY LIMITED→ SC316253 · est 2007 | — | — | £384.2k | — | 19y | 83 | 69y |
| CAWOODS (FISHCURERS) LIMITED→ SC034153 · est 1959 | — | — | £2.71M | — | 67y | 82 | 60y |
| S LUCA OF MUSSELBURGH LIMITED→ SC296882 · est 2006 | — | — | £1.65M | — | 20y | 82 | 69y |
| YESTER FARM DAIRIES LIMITED→ SC396162 · est 2011 | — | — | — | 1700 | 15y | 82 | 73y |
| ARTISAN ROAST LIMITED→ SC327756 · est 2007 | — | — | — | 3600 | 18y | 81 | 62y |
| GRAMPIAN OAT PRODUCTS LIMITED→ SC176950 · est 1997 | — | — | — | 0 | 29y | 81 | 80y |
| MOROCCO GOLD LIMITED→ SC370625 · est 2009 | — | — | £249.9k | — | 16y | 81 | 72y |
| TRAQUAIR HOUSE BREWERY LIMITED→ SC172147 · est 1997 | — | — | — | 300 | 29y | 81 | 62y |
| ACTIPH WATER LIMITED→ SC505074 · est 2015 | — | — | £547.8k | — | 11y | 80 | 77y |
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
Incorporated1989-03-07
Jurisdictionscotland
Primary SIC10710 — Manufacture of bread; manufacture of fresh pastry goods and cakes
Registered office
43 Inchmuir Road
Whitehill Industrial Estate
Bathgate
EH48 2EP
Scotland
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-03-14
Last: 2026-02-28
Officers (2 active · 34 resigned)
ADDLESHAW GODDARD (SCOTLAND) SECRETARIAL LIMITED→
Activecorporate-secretary · appointed 2013-02-27
View their other companies + combined net worth →
HANN, Stephen Paul Charles→
Activedirector · ~45y · appointed 2025-01-01
View their other companies + combined net worth →
KELLY, John→
Resignedsecretary · appointed 1999-09-30 · resigned 2005-11-18
MCINTYRE, Alexander Stewart→
Resignedsecretary · appointed 1997-02-22 · resigned 1998-03-19
MCKNIGHT, James Walter Andrew→
Resignedsecretary · appointed 1998-03-11 · resigned 1999-09-30
ORR, David Slater→
Resignedsecretary · resigned 1996-03-26
CITY GROUP PLC→
Resignedcorporate-secretary · appointed 2005-11-20 · resigned 2013-02-27
D.W. COMPANY SERVICES LIMITED→
Resignedcorporate-secretary · appointed 1996-03-26 · resigned 1997-02-22
BEATTIE, David→
Resigneddirector · ~71y · appointed 1991-02-28 · resigned 1994-11-14
BOYD, Stephen Alexander→
Resigneddirector · ~64y · appointed 2010-01-20 · resigned 2013-02-27
BOYD, Stephen Alexander→
Resigneddirector · ~64y · appointed 2010-01-10 · resigned 2010-01-10
BRADLEY, Jeremy Peter→
Resigneddirector · ~65y · appointed 2016-10-01 · resigned 2020-01-01
BROOKS, David Gary→
Resigneddirector · ~59y · appointed 2005-11-18 · resigned 2008-09-29
BRUCE-GARDYNE, Lucinda Emma Kate→
Resigneddirector · ~55y · appointed 2017-02-23 · resigned 2021-08-31
COOK, Bernard→
Resigneddirector · ~82y · appointed 1998-03-31 · resigned 2001-04-27
CRONIN, Patrick Thomas→
Resigneddirector · ~62y · appointed 2006-03-09 · resigned 2012-04-27
CRONIN, Patrick Thomas→
Resigneddirector · ~62y · appointed 2003-11-17 · resigned 2005-11-18
CUNNINGHAM, Archibald Macdonald→
Resigneddirector · ~73y · appointed 2006-03-09 · resigned 2013-02-27
CUNNINGHAM, Archibald Macdonald→
Resigneddirector · ~73y · appointed 1998-06-29 · resigned 2005-11-18
CUSCHIERI, Roz→
Resigneddirector · ~59y · appointed 2013-02-27 · resigned 2017-02-23
Click a director name to see their full track record across all companies.
Mortgages & charges
40
Total charges
3
Outstanding
1
Active lenders
Status:Lender:40 of 40 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Shawbrook Shawbrook Bank Limited | A registered charge | 3 properties | 03/07/2023 | — | |
| outstanding | Shawbrook Shawbrook Bank Limited | A registered charge | 3 properties | 26/01/2023 | — | |
| outstanding | Shawbrook Shawbrook Bank Limited | A registered charge | — | 21/12/2022 | — | |
| satisfied | HSBC Hsbc Bank PLC | Standard security | 1 property | 13/03/2013 | 20/03/2019 | |
| satisfied | Finsbury Food Group Finsbury Food Group PLC | Standard security | 1 property | 13/03/2013 | 18/04/2016 | |
| satisfied | Finsbury Food Group Finsbury Food Group PLC | Floating charge | 1 property | 27/02/2013 | 18/04/2016 | |
| satisfied | HSBC Hsbc Bank PLC | Floating charge | 1 property | 27/02/2013 | 20/03/2019 | |
| satisfied | HSBC Hsbc Invoice Finance (UK) Limited | Floating charge | 1 property | 11/05/2009 | 20/03/2019 | |
| satisfied | HSBC Hsbc Bank PLC | Legal assignment | 1 property | 07/05/2009 | 08/03/2013 | |
| satisfied | HSBC Hsbc Bank PLC | Standard security | 1 property | 15/12/2005 | 20/03/2019 | |
| satisfied | HSBC Hsbc Bank PLC | Standard security | 1 property | 07/12/2005 | 20/03/2019 | |
| satisfied | HSBC Hsbc Bank PLC | Floating charge | 1 property | 18/11/2005 | 29/03/2019 | |
| satisfied | HSBC Hsbc Equipment Finance (UK) Limited | Floating charge | 1 property | 18/11/2005 | 29/03/2019 | |
| satisfied | HSBC Hsbc Asset Finance (UK) Limited | Floating charge | 1 property | 18/11/2005 | 29/03/2019 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 30/09/1997 | 22/12/2005 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 15/02/1996 | 22/12/2005 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 30/10/1995 | 22/12/2005 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 26/04/1995 | 27/12/1996 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 25/04/1995 | 27/12/1996 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 25/04/1995 | 18/01/2006 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 01/07/1994 | 27/12/1996 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 01/07/1994 | 22/12/2005 | |
| satisfied | John Smith & Sons (New Pitsligo) John Smith & Sons (New Pitsligo) Limited | Standard security | 2 properties | 05/11/1993 | 27/12/1996 | |
| satisfied | Chancelot Mill Chancelot Mill Limited | Standard security | 1 property | 08/01/1992 | 27/12/1996 | |
| satisfied | Chancelot Mill Chancelot Mill Limited | Standard security | 1 property | 08/01/1992 | 27/12/1996 | |
| satisfied | Chancelot Mill Chancelot Mill Limited | Standard security | 1 property | 31/12/1991 | 14/02/2000 | |
| satisfied | Chancelot Mill Chancelot Mill Limited | Floating charge | 1 property | 20/12/1991 | 25/04/1995 | |
| satisfied | Rank Hovis Rank Hovis Limited | Standard security | 1 property | 17/06/1991 | 28/11/1991 | |
| satisfied | Rank Hovis Rank Hovis Limited | Standard security | 1 property | 17/06/1991 | 27/12/1996 | |
| satisfied | Rank Hovis Rank Hovis Limited | Standard security | 1 property | 17/06/1991 | 06/11/1991 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Floating charge | 1 property | 27/05/1991 | 22/12/2005 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 24/04/1991 | 22/12/2005 | |
| satisfied | Rank Hovis Rank Hovis Limited | Standard security | 1 property | 07/09/1990 | 11/09/1991 | |
| satisfied | Rank Hovis Rank Hovis Limited | Standard security | 1 property | 07/09/1990 | 27/12/1996 | |
| satisfied | Rank Hovis Rank Hovis Limited | Standard security | 1 property | 06/08/1990 | 18/09/1990 | |
| satisfied | Rank Hovis Rank Hovis LTD | Standard security | 1 property | 06/08/1990 | 19/09/1990 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 17/01/1990 | 11/09/1991 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 09/01/1990 | 07/08/1990 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 28/12/1989 | 22/12/2005 | |
| satisfied | Rank Hovis Rank Hovis LTD | Floating charge | 1 property | 14/07/1989 | 30/12/1991 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (310 total)
termination-director-company-with-name-termination-date
officers · TM01
2026-06-18
change-corporate-secretary-company-with-change-date
officers · CH04
2026-05-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-12
accounts-with-accounts-type-audit-exemption-subsiduary
accounts · AA
2025-08-19
legacy
accounts · PARENT_ACC
2025-08-19
legacy
accounts · PARENT_ACC
2025-08-13
legacy
other · AGREEMENT2
2025-08-12
legacy
other · GUARANTEE2
2025-08-12
accounts-with-accounts-type-audit-exemption-subsiduary
accounts · AA
2025-04-11
legacy
accounts · PARENT_ACC
2025-04-11
legacy
other · AGREEMENT2
2025-04-11
legacy
other · GUARANTEE2
2025-04-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-03
appoint-person-director-company-with-name-date
officers · AP01
2025-01-08
termination-director-company-with-name-termination-date
officers · TM01
2024-10-07