TARGET DISCOUNT LIMITED

🌳Matureactive

SC141884 · ltd · incorporated 1992-12-21

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 Mar 2025

Net worth

£-163.0k

book net assets

Opportunity

83/100

Exceptional

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What this business does

Primary activity: Other retail sale not in stores, stalls or markets

Sector: Wholesale & retail

ALSO REGISTERED FOR

77299Renting and leasing of other personal and household goods

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 83/100 (exceptional), bankability 67/100. Strong seller-intent signal (73/100, director aged 83). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

5 live charges · 4 lenders · oldest 33.1y

35/100

too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

· Oldest live charge is 33.1 years old — likely at or near maturity.
· 4 lenders named — inter-creditor friction likely.
· Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (79/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile

address, 2 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

5 charges (5/5 with lender, 5/5 with type)

Directors & officers

6 officers (4 active, 6 linked, 3 with DOB)

Ownership & PSC

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

Director network

1 connected companies via shared directors

Filing history

98 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

83/100Exceptional

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

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 105 (micro)

Negative net assets

Liabilities exceed assets by £163,026

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

-£163k

↑ 31% YoY

Current Assets

£165k

↓ 2.2% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)

Metric	2025-03-31	2024-03-31
Total assets	£203.8k	£211.1k
Current assets	£164.8k	£168.5k
Net assets	£-163.0k	£-236.4k

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

Last 90 days

filings

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (34 events)Click to expand

2026-01-27
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2025-01-13
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-03-12
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-02-24
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2022-01-10
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2021-10-12
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-10-12
🔒
Charge registered #5
Lender: Stewart Merson Emslie
2021-03-19
📄
change-person-director-company-with-change-date
officers · CH01
2021-01-25
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-01-25
🔓
Charge satisfied #4
2021-01-05
📄
change-person-director-company-with-change-date
officers · CH01
2020-10-19
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2019-12-12
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2018-09-24
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2017-12-22
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2017-12-11
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2016-12-21
📄
change-person-director-company-with-change-date
officers · CH01
2016-12-21
📄
change-person-secretary-company-with-change-date
officers · CH03
2014-08-05
🔒
Charge registered #4
Lender: The Royal Bank of Scotland PLC
2014-03-04
➕
COOPER, Jill Sinclair appointed
director
2014-03-04
➕
MCDONALD, Tracey Sangster appointed
director
2009-01-29
🔓
Charge satisfied #3
1997-10-24
🔓
Charge satisfied #2
1996-03-11
🔒
Charge registered #3
Lender: The Governor and Company of the Bank of Scotland
1995-03-03
🔒
Charge registered #2
Lender: Clydesdale Bank Public Limited Company
1994-06-24
🔓
Charge satisfied #1
1993-03-29
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
1993-01-22
➕
EMSLIE, Phyllis Margaret Sim appointed
secretary
1993-01-22
➕
EMSLIE, Stewart Merson appointed
director
1993-01-22
➖
OSWALDS OF EDINBURGH LIMITED resigned
corporate-nominee-secretary
1993-01-22
➖
JORDANS (SCOTLAND) LIMITED resigned
corporate-nominee-director
1992-12-21
🏢
Company incorporated
As TARGET DISCOUNT LIMITED
1992-12-21
➕
OSWALDS OF EDINBURGH LIMITED appointed
corporate-nominee-secretary
1992-12-21
➕
JORDANS (SCOTLAND) LIMITED appointed
corporate-nominee-director

Owner dependency

75/100

High — earn-out structure required

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

FACTORS

+Long-tenure founder: Senior director has been in place 33 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 83 — succession pressure is live.

Succession & seller-readiness

90/100

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 83 years old. Natural succession window is now.
primary20+ year tenure: Director in role 33 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 33 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

Name	Shares	Voting rights	Nature of control	Notified
Stewart Merson Emslie Individual · British · DOB 03/1943 · age 83	50–75%	50–75%	50-75% shares · 50-75% voting	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 · Retail · IV postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
DECORA LIMITED→ SC080155 · est 1982	£956.8k £717.6k–£1.20M	£4.97M	—	7800	43y	87	82y
BEN WYVIS KILTS LIMITED→ SC272661 · est 2004	—	—	£400.8k	—	21y	83	72y
BONK & CO. LIMITED→ SC064104 · est 1978	—	—	—	18	48y	83	65y
INVERNESS GOLF CENTRE LIMITED→ SC187445 · est 1998	—	—	£293.8k	—	27y	83	63y
PHOENIX FINDHORN C.I.C.→ SC155512 · est 1995 · no financials extracted	—	—	—	—	31y	83	70y
AC & IC FRASER & SON LIMITED→ SC216589 · est 2001	—	—	£1.79M	—	25y	82	75y
AVCO INDUSTRIAL SUPPLIES LIMITED→ SC259260 · est 2003	—	—	£63.6k	—	22y	82	72y
BISHOPMILL PHARMACY LTD.→ SC196876 · est 1999	—	—	£615.4k	—	26y	82	68y
C.D.L.T. MANAGEMENT SERVICES LIMITED→ SC117333 · est 1989 · no financials extracted	—	—	—	—	37y	82	79y
DALLAS DESIGNS LTD→ SC319375 · est 2007	—	—	—	500	19y	82	65y
FARR END ENTERPRISES LTD.→ SC299366 · est 2006	—	—	—	200	20y	82	66y
V&C RODGERS LTD→ SC865986 · est 2025 · no financials extracted	—	—	—	—	—	—	—

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

Typeltd

Incorporated1992-12-21

Jurisdictionscotland

Primary SIC47990 — Other retail sale not in stores, stalls or markets

Registered office

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2026-05-20

Last: 2025-05-06

Officers (4 active · 2 resigned)

EMSLIE, Phyllis Margaret Sim→

secretary · appointed 1993-01-22

View their other companies + combined net worth →

Active

COOPER, Jill Sinclair→

director · ~59y · appointed 2014-03-04

View their other companies + combined net worth →

Active

EMSLIE, Stewart Merson→

director · ~83y · appointed 1993-01-22

View their other companies + combined net worth →

Active

MCDONALD, Tracey Sangster→

director · ~56y · appointed 2014-03-04

View their other companies + combined net worth →

Active

OSWALDS OF EDINBURGH LIMITED→

corporate-nominee-secretary · appointed 1992-12-21 · resigned 1993-01-22

Resigned

JORDANS (SCOTLAND) LIMITED→

corporate-nominee-director · appointed 1992-12-21 · resigned 1993-01-22

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:5 of 5 shown

		Type	Properties
outstanding	Stewart Merson Emslie / Phyllis Margaret Sim Emslie	A registered charge	—	12/10/2021	—
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	A registered charge	—	05/08/2014	25/01/2021
satisfied	Lloyds Banking Group The Governor and Company of the Bank of Scotland	Bond & floating charge	1 property	11/03/1996	29/01/2009
satisfied	Virgin Money Clydesdale Bank Public Limited Company	Floating charge	1 property	03/03/1995	24/10/1997
satisfied	Lloyds Banking Group The Governor and Company of the Bank of Scotland	Floating charge	1 property	29/03/1993	24/06/1994

Click column headers to sort. Use filters above to narrow by status and lender.