THE MOUNT STUART TRUST

🌳Matureactive

SC118464 · private-limited-guarant-nsc-limited-exemption · incorporated 1989-06-12

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.

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

78/100

Strong

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What this business does

Primary activity: SIC 02100

Sector: Agriculture, forestry & fishing

ALSO REGISTERED FOR

68209Other letting and operating of own or leased real estate
85520Cultural education
91030Operation of historical sites and buildings and similar visitor attractions

Investor take

Pursue

Active trading company. Family succession underway — not a classic acquisition target.

Opportunity 78/100 (strong), bankability 67/100. Same-surname younger director in place — likely family handover, not open to sale. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: family or management succession (50/100).

🏦

Refinance opportunity

13 live charges · 3 lenders · oldest 23.4y

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 23.4 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 63/100 (high).

Data confidence

Overall: low (51/100)

Sparse data coverage. Treat AI-generated outputs as preliminary. Manual diligence essential.

Company profile

address, 4 SIC codes, incorporation date

100

Financials

No iXBRL financials extracted

Lenders & charges

13 charges (13/13 with lender, 13/13 with type)

Directors & officers

35 officers (13 active, 35 linked, 31 with DOB)

Ownership & PSC

No PSCs filed (unusual — worth investigating)

Director network

6 connected companies via shared directors

Filing history

229 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

78/100Strong

PassWatchWorth a lookStrongExceptional

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Some moderate concerns — review flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

• 5 officers

Last 90 days

filings

• 5 officers

Last 180 days

filings

• 6 officers

Counts from Companies House filing history.

Corporate timeline (104 events)Click to expand

2026-04-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-02
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-04-02
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-03-27
➕
BILSON, Lee Robert appointed
director
2026-03-27
➕
COCKBURN, Isobel Grace appointed
director
2026-03-27
➕
SYSON, Gilbert Luke appointed
director
2026-03-27
➖
ANSTRUTHER, Tobias Alexander Campbell resigned
director
2026-03-27
➖
RUSSELL, Francis George Scott resigned
director
2025-12-23
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-11-28
➕
CURTIS-MACHIN, Raoul Patrick Paul appointed
director
2025-08-06
📄
accounts-with-accounts-type-group
accounts · AA
2025-07-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-07-16
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-07-15
➖
RAE, David Alasdair Hamley, Dr resigned
director
2025-07-03
➖
BATE, Elizabeth Jane Franziska resigned
director
2024-09-11
📄
accounts-with-accounts-type-group
accounts · AA
2024-07-05
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-07-05
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-06-26
➕
CRICHTON-STUART, Flora Grace appointed
director
2024-06-25
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-25
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-25
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-25
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-25
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-25
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-19
➖
FENWICK, Georgia resigned
director
2024-02-29
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-02-29
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-02-16
➕
CHRISTIE, Julie Ann appointed
director
2024-02-16
➕
DICKSON, John Livingstone appointed
director
2023-09-05
📄
accounts-with-accounts-type-group
accounts · AA
2023-08-25
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-08-25
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-08-25
🔓
Charge satisfied #13
2023-08-25
🔓
Charge satisfied #12
2023-08-25
🔓
Charge satisfied #11
2023-08-25
🔓
Charge satisfied #10
2023-08-25
🔓
Charge satisfied #9
2022-09-12
➖
BUTE, Serena Solitaire resigned
director
2021-11-10
➖
TIMMS, Peter resigned
director
2021-03-22
➖
CRICHTON-STUART, John Colum, Marquess Of Bute resigned
director
2020-09-23
➕
ANSTRUTHER, Tobias Alexander Campbell appointed
director
2020-09-23
➕
BATE, Elizabeth Jane Franziska appointed
director
2020-09-10
➕
CRICHTON-STUART, Sophia Anne appointed
director
2019-09-18
➖
RISSMANN OBE, Hans Hermann resigned
director
2019-05-25
➖
CRICHTON STUART, Cathleen resigned
director
2017-11-23
➖
CRICHTON-STUART, Caroline resigned
director
2017-11-07
➕
BUTE, Serena Solitaire appointed
director

Showing most recent 50 of 104 events

Owner dependency

73/100

High — earn-out structure required

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

FACTORS

-12 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 33 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 70 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

40/100

Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS

primaryFamily succession underway: Not a takeover target — CRICHTON-STUART, Flora Grace (same surname) appointed 2024-06-26. Pattern consistent with intra-family handover.
primaryFounder aged 70+: Senior director is approximately 70 years old. Natural succession window is now.
primary20+ year tenure: Director in role 33 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

2 med ·

4 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: ANSTRUTHER, Tobias Alexander Campbell resigned 2026-03-27; BATE, Elizabeth Jane Franziska resigned 2025-07-03; RAE, David Alasdair Hamley, Dr resigned 2025-07-15

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

🔒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

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S & M GRUHAM LTD→ SC585555 · est 2018 · no financials extracted	—	—	—	—	8y	—	—
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SWOAC LIMITED→ SC044908 · est 1967 · no financials extracted	—	—	—	—	58y	—	—
THE BEAUTY OF EDINBURGH LTD→ SC688065 · est 2021 · no financials extracted	—	—	—	—	5y	—	—
THE CAULDSHIEL CATTLE COMPANY LTD→ SC423942 · est 2012 · no financials extracted	—	—	—	—	13y	—	—
THE NORTH BERWICK FLOWER COMPANY LTD→ SC797704 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
THE SCOTTISH HALIBUT COMPANY LTD→ SC825964 · est 2024 · no financials extracted	—	—	—	—	1y	—	—
THE TAY SALMON FISHERIES COMPANY LIMITED→ SC250691 · est 2003 · no financials extracted	—	—	—	—	22y	—	—
THE WHINS GAME FARM LTD→ SC716408 · est 2021 · no financials extracted	—	—	—	—	4y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

7 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.

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Company details

Statusactive

Typeprivate-limited-guarant-nsc-limited-exemption

Incorporated1989-06-12

Jurisdictionscotland

Primary SIC02100 — SIC 02100

Registered office

5 Atholl Crescent

Edinburgh

EH3 8EJ

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-06-26

Last: 2025-06-12