SPENCE (INSURANCE SERVICES) LTD.

🌳Matureactive

SC124134 · ltd · incorporated 1990-04-02

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.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 34.9y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Aug 2024

Net worth

£2.82M

book net assets

Opportunity

77/100

Strong

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What this business does

Primary activity: Non-life insurance

Sector: Financial & insurance

Investor take

Pursue

Asset-holding vehicle with a 60-year-old founder — textbook succession opportunity.

Opportunity 77/100 (strong), bankability 85/100. Strong seller-intent signal (60/100, director aged 60). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

13 live charges · 2 lenders · oldest 34.9y

50/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Oldest live charge is 34.9 years old — likely at or near maturity.
· Two lenders — manageable, but coordination required.
· Legal-friction score 38/100 — workable, but lender will want more DD.

Data confidence

Overall: high (83/100)

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

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

Directors & officers

8 officers (3 active, 8 linked, 5 with DOB)

Ownership & PSC

1 active PSC(s) of 4 total, 4 with control declared

Director network

15 connected companies via shared directors

Filing history

133 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

77/100Strong

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.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £2,818,849

Cash YoY

+53%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£1.0m

↑ 53% YoY

Net Worth

£2.8m

↑ 8.5% YoY

Current Assets

£1.9m

↑ 21% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-08-31	2023-08-31
Total assets	£2.83M	£2.61M
Current assets	£1.93M	£1.59M
Cash	£1.05M	£683.1k
Debtors	£884.1k	£907.2k
Net assets	£2.82M	£2.60M

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

filings

• 5 officers
• 2 persons-with-significant-control
• 1 confirmation-statement

Last 90 days

filings

• 5 officers
• 5 persons-with-significant-control
• 1 confirmation-statement

Last 180 days

filings

• 5 officers
• 5 persons-with-significant-control
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (62 events)Click to expand

2026-04-09
➕
EDGELEY, Michael David Simon appointed
director
2026-04-09
➕
MONEY, Timothy John appointed
director
2026-04-09
➖
SPENCE, William James resigned
secretary
2026-04-09
➖
SPENCE, Catherine Brand Banks resigned
director
2026-04-09
➖
SPENCE, William James resigned
director
2026-04-09
📄
memorandum-articles
incorporation · MA
2026-04-09
📄
resolution
resolution · RESOLUTIONS
2026-04-09
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-04-09
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2026-04-09
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-04-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-09
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2026-04-09
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-04-01
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-04-01
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-04-01
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-02-26
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-27
🔓
Charge satisfied #13
2024-02-27
🔓
Charge satisfied #12
2024-02-27
🔓
Charge satisfied #11
2024-02-27
🔓
Charge satisfied #10
2024-02-27
🔓
Charge satisfied #9
2024-02-27
🔓
Charge satisfied #8
2024-02-27
🔓
Charge satisfied #7
2024-02-27
🔓
Charge satisfied #6
2024-02-27
🔓
Charge satisfied #5
2024-02-27
🔓
Charge satisfied #4
2024-02-27
🔓
Charge satisfied #3
2024-02-27
🔓
Charge satisfied #2
2015-04-22
🔒
Charge registered #13
Lender: The Royal Bank of Scotland PLC
2007-03-19
🔒
Charge registered #12
Lender: The Royal Bank of Scotland PLC
2007-03-19
🔒
Charge registered #11
Lender: The Royal Bank of Scotland PLC
2005-11-11
🔓
Charge satisfied #1
2005-11-04
🔒
Charge registered #10
Lender: The Royal Bank of Scotland PLC
2005-10-21
🔒
Charge registered #9
Lender: The Royal Bank of Scotland PLC
2005-10-21
🔒
Charge registered #8
Lender: The Royal Bank of Scotland PLC
2005-10-06
🔒
Charge registered #7
Lender: The Royal Bank of Scotland PLC
2005-06-16
🔒
Charge registered #6
Lender: The Royal Bank of Scotland PLC
2005-05-26
🔒
Charge registered #5
Lender: The Royal Bank of Scotland PLC
2004-11-19
🔒
Charge registered #4
Lender: The Royal Bank of Scotland PLC

Showing most recent 50 of 62 events

Owner dependency

83/100

Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS

+Founder name in company name: Company name contains director surname "SPENCE" — strong identity link between founder and business.
+Long-tenure founder: Senior director has been in place 29 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 60 — approaching natural succession window.

Succession & seller-readiness

60/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 60. Early succession window.
primary20+ year tenure: Director in role 29 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 ·

3 director resignations in last 12 months

medium

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

Evidence: SPENCE, William James resigned 2026-04-09; SPENCE, Catherine Brand Banks resigned 2026-04-09; SPENCE, William James resigned 2026-04-09

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.

Group structure

Clear Group (Holdings) Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Clear Group (Holdings) Limited

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

SPENCE (INSURANCE SERVICES) LTD.

This company · SC124134

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
Clear Group (Holdings) Limited Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	09/04/2026

3 historic (ceased) PSCs

Mr Stewart William Spenceceased 09/04/2026· 75-100% shares · 75-100% voting
Mr William James Spenceceased 12/03/2026· 25-50% shares
Mrs Catherine Brand Banks Spenceceased 12/03/2026· 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 · Financial services · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
RBS COLLECTIVE INVESTMENT FUNDS LIMITED→ SC046694 · est 1969 · no financials extracted	—	—	—	—	56y	—	—
RENTON WEALTH MANAGEMENT LTD→ SC666842 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
SCOTSURE MBI LIMITED→ SC352229 · est 2008 · no financials extracted	—	—	—	—	17y	—	—
SCOTTISH FUTURES TRUST INVESTMENTS LIMITED→ SC381388 · est 2010 · no financials extracted	—	—	—	—	15y	—	—
SCOTTISH WIDOWS' FUND AND LIFE ASSURANCE SOCIETY→ SZ000002 · est 1983 · no financials extracted	—	—	—	—	43y	—	—
SEEDCAMP VI (SCOT) LIMITED→ SC744406 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
SEVEN HILLS FINANCIAL PLANNING LTD→ SC723633 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
SHUTTERFLY INVESTMENTS LIMITED→ SC734733 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
SLIF PROPERTY INVESTMENT GP LIMITED→ SC388872 · est 2010 · no financials extracted	—	—	—	—	15y	—	—
SSARO SERVICES LTD→ SC880380 · est 2026 · no financials extracted	—	—	—	—	—	—	—
STANDARD LIFE TRUSTEE COMPANY LIMITED→ SC076046 · est 1981 · no financials extracted	—	—	—	—	44y	—	—
START CODON (CARRY GENERAL PARTNER) LTD→ SC628762 · est 2019 · no financials extracted	—	—	—	—	6y	—	—

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

Incorporated1990-04-02

Jurisdictionscotland

Primary SIC65120 — Non-life insurance

Registered office

Unit 2 Wester Inch Business Park

Old Well Court

Bathgate

West Lothian

EH48 2TQ

Filing status

Accounts

Next due: 2026-05-31

Last made up to: 2024-08-31

Confirmation statement

Next due: 2027-04-30

Last: 2026-04-16

Officers (3 active · 5 resigned)

EDGELEY, Michael David Simon→

director · ~60y · appointed 2026-04-09

View their other companies + combined net worth →

Active

MONEY, Timothy John→

director · ~59y · appointed 2026-04-09

View their other companies + combined net worth →

Active

SPENCE, Stewart William→

director · ~53y · appointed 1997-01-01

View their other companies + combined net worth →

Active

REID, Brian→

nominee-secretary · appointed 1990-04-02 · resigned 1990-04-03

Resigned

SPENCE, William James→

secretary · appointed 1990-04-03 · resigned 2026-04-09

Resigned

SPENCE, Catherine Brand Banks→

director · ~78y · appointed 1990-04-03 · resigned 2026-04-09

Resigned

SPENCE, William James→

director · ~79y · appointed 1990-04-03 · resigned 2026-04-09

Resigned

WAUGH, Joanne→

nominee-director · appointed 1990-04-02 · resigned 1990-04-03

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:13 of 13 shown

		Type	Properties
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	A registered charge	—	22/04/2015	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	19/03/2007	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	19/03/2007	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	04/11/2005	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	21/10/2005	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	21/10/2005	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	06/10/2005	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	16/06/2005	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Bond & floating charge	1 property	26/05/2005	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	19/11/2004	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	13/08/2004	27/02/2024
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	13/08/2004	27/02/2024
satisfied	Virgin Money Clydesdale Bank Public Limited Company	Floating charge	1 property	14/06/1991	11/11/2005

Recent filings (133 total)

confirmation-statement-with-no-updates

confirmation-statement · CS01

2026-04-28

memorandum-articles

incorporation · MA

2026-04-09

resolution

resolution · RESOLUTIONS

2026-04-09

termination-director-company-with-name-termination-date

officers · TM01

2026-04-09

notification-of-a-person-with-significant-control

persons-with-significant-control · PSC02

2026-04-09

termination-director-company-with-name-termination-date

officers · TM01

2026-04-09

appoint-person-director-company-with-name-date

officers · AP01

2026-04-09

appoint-person-director-company-with-name-date

officers · AP01

2026-04-09

termination-secretary-company-with-name-termination-date

officers · TM02

2026-04-09

cessation-of-a-person-with-significant-control

persons-with-significant-control · PSC07

2026-04-09

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

persons-with-significant-control · PSC04

2026-04-01

cessation-of-a-person-with-significant-control

persons-with-significant-control · PSC07

2026-04-01

cessation-of-a-person-with-significant-control

persons-with-significant-control · PSC07

2026-04-01

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-04-29

accounts-with-accounts-type-total-exemption-full

accounts · AA

2025-02-26