SHETLAND HEATWISE

🌳Matureactive
SC140012 · private-limited-guarant-nsc-limited-exemption · incorporated 1992-08-31
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 32.2y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
82/100
Exceptional
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What this business does

Based in Lerwick, this active Scottish construction firm most likely provides and installs heating systems, insulation, and related energy solutions for residential and commercial properties across the Shetland Islands, operating under the broader construction installation sector.

Primary activity: Other construction installation
Sector: Construction
Investor take
Pursue
Active trading company with a 80-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (83/100, director aged 80). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 2 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

2 live charges · oldest 32.2y

65/100
clean up first

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

  • · Oldest live charge is 32.2 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (78/100)

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
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
9 officers (3 active, 9 linked, 7 with DOB)
86
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
93 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
PassWatchWorth a lookStrongExceptional 

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Mar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Average employees131400

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
0
filings
Last 90 days
0
filings
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (33 events)Click to expand
  1. 2025-11-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-02-14
    📄
    accounts-amended-with-accounts-type-total-exemption-full
    accounts · AAMD
  3. 2024-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-12-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-04-13
    📄
    accounts-amended-with-accounts-type-total-exemption-full
    accounts · AAMD
  7. 2021-12-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-01-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2019-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2018-10-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2017-12-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2016-11-11
    ➖
    SUTHERLAND, Jim resigned
    director
  13. 2016-11-11
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  14. 2016-09-23
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2015-11-27
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2015-11-20
    ➕
    HUNTER, James George appointed
    director
  17. 2015-11-20
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  18. 2011-03-31
    ➖
    MEDLEY, Christopher resigned
    director
  19. 2010-10-08
    ➖
    OKILL, John David resigned
    director
  20. 2004-04-20
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Scotland
  21. 2000-02-09
    ➕
    MEDLEY, Christopher appointed
    director
  22. 1999-07-28
    ➖
    SELWYN, David resigned
    director
  23. 1996-04-09
    ➖
    PROCTOR, Jonathan Simon Gerrard resigned
    director
  24. 1994-05-31
    ➕
    RENNIE, Kevin William appointed
    secretary
  25. 1994-05-31
    ➖
    PROCTOR, Jonathan Simon Gerrard resigned
    secretary
  26. 1994-03-24
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  27. 1992-09-11
    ➕
    OKILL, John David appointed
    director
  28. 1992-09-11
    ➕
    SELWYN, David appointed
    director
  29. 1992-09-11
    ➕
    SUTHERLAND, Jim appointed
    director
  30. 1992-08-31
    🏢
    Company incorporated
    As SHETLAND HEATWISE
  31. 1992-08-31
    ➕
    MILLER, Alexander John appointed
    director
  32. 1992-08-31
    ➕
    PROCTOR, Jonathan Simon Gerrard appointed
    secretary
  33. 1992-08-31
    ➕
    PROCTOR, Jonathan Simon Gerrard appointed
    director

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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 34 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 80 — succession pressure is live.

Succession & seller-readiness

96/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 80 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 34 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 34 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

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Kevin William Rennie
Individual · Scottish · DOB 07/1962 · age 64
——sig. influencesignificant influence06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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——£3.80M—20y8162y
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————22y8177y
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——£34.8k—18y8059y
G SUTHERLAND BUILDERS LIMITED→
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———023y8068y
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———40015y8062y
M. RATTER LIMITED→
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————22y——
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.

See pricing →

Company details

Statusactive
Typeprivate-limited-guarant-nsc-limited-exemption
Incorporated1992-08-31
Jurisdictionscotland
Primary SIC43290 — Other construction installation

Registered office

Staney Hill Offices
North Road
Lerwick
Shetland
ZE1 0QW

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-12-31
Last: 2025-12-17

Officers (3 active · 6 resigned)

RENNIE, Kevin William→
secretary · appointed 1994-05-31
View their other companies + combined net worth →
Active
HUNTER, James George→
director · ~69y · appointed 2015-11-20
View their other companies + combined net worth →
Active
MILLER, Alexander John→
director · ~80y · appointed 1992-08-31
View their other companies + combined net worth →
Active
PROCTOR, Jonathan Simon Gerrard→
secretary · appointed 1992-08-31 · resigned 1994-05-31
Resigned
MEDLEY, Christopher→
director · ~68y · appointed 2000-02-09 · resigned 2011-03-31
Resigned
OKILL, John David→
director · ~77y · appointed 1992-09-11 · resigned 2010-10-08
Resigned
PROCTOR, Jonathan Simon Gerrard→
director · ~61y · appointed 1992-08-31 · resigned 1996-04-09
Resigned
SELWYN, David→
director · ~82y · appointed 1992-09-11 · resigned 1999-07-28
Resigned
SUTHERLAND, Jim→
director · ~72y · appointed 1992-09-11 · resigned 2016-11-11
Resigned

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

Mortgages & charges

2
Total charges
2
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property20/04/2004—
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Bond & floating charge1 property24/03/1994—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (93 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-12-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-11-27
accounts-amended-with-accounts-type-total-exemption-full
accounts · AAMD
2025-02-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-12-19
accounts-amended-with-accounts-type-total-exemption-full
accounts · AAMD
2022-04-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-01-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-12-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-12-20