FIP REALISATIONS LIMITED
⚰️Wound downdissolved
SC176784 · ltd · incorporated 1997-06-27
Investment thesis
Company dissolved — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
46/100
Watch
What this business does
Primary activity: SIC 5510
Sector: Accommodation & food service
ALSO REGISTERED FOR
- 5540SIC 5540
- 7487SIC 7487
Investor take
Pass (distressed without resilience)Distressed unclear — structural issues outweigh the discount.
Opportunity 46/100 (watch), bankability 32/100. Strong seller-intent signal (78/100, director aged 66). Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: asset disposal / carve-out (55/100). Current lenders should be on monthly review.
🏦
Refinance opportunity
42 live charges · 7 lenders · oldest 27.5y
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 27.5 years old — likely at or near maturity.
- · 7 lenders named — inter-creditor friction likely.
- · Legal-friction score 70/100 (specialist).
Data confidence
Overall: low (52/100)Sparse data coverage. Treat AI-generated outputs as preliminary. Manual diligence essential.
Company profile
address, 3 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
42 charges (42/42 with lender, 42/42 with type)
90
Directors & officers
6 officers (3 active, 6 linked, 3 with DOB)
80
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
20 connected companies via shared directors
90
Filing history
123 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
46/100Watch
PassWatchWorth a lookStrongExceptional
Not actionable now, but monitor — distressed, succession, or structural changes could flip this into a real opportunity.
Business quality
0
Concerning — overdue filings or status flags present.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
38
Multiple red flags — proceed with caution.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (100 events)Click to expand
- 2017-02-28📄gazette-dissolved-compulsorygazette · GAZ2
- 2017-02-28🏁Company dissolved
- 2016-08-05📄dissolved-compulsory-strike-off-suspendeddissolution · DISS16(SOAS)
- 2016-07-12📄gazette-notice-compulsorygazette · GAZ1
- 2016-02-11⚠️liquidation-receiver-ceasing-to-act-scotlandinsolvency · 3(Scot)
- 2011-11-15⚠️liquidation-receiver-receivers-report-scotlandinsolvency · 3.5(Scot)
- 2011-11-15⚠️liquidation-receiver-appointment-of-receiver-scotlandinsolvency · 1(Scot)
- 2011-08-10✏️certificate-change-of-name-companychange-of-name · CERTNM
- 2011-08-10📄resolutionresolution · RESOLUTIONS
- 2011-08-03📍change-registered-office-address-company-with-date-old-addressaddress · AD01
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-10📄legacymortgage · MG02s
- 2010-12-09🔓Charge satisfied #42
- 2010-12-09🔓Charge satisfied #40
- 2010-12-09🔓Charge satisfied #38
- 2010-12-09🔓Charge satisfied #36
- 2010-12-09🔓Charge satisfied #32
- 2010-12-09🔓Charge satisfied #31
- 2010-12-09🔓Charge satisfied #29
- 2010-12-09🔓Charge satisfied #24
- 2010-12-09🔓Charge satisfied #23
- 2010-12-09🔓Charge satisfied #22
- 2010-12-09🔓Charge satisfied #20
- 2010-12-09🔓Charge satisfied #7
- 2010-07-26📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2010-06-01📄accounts-with-accounts-type-fullaccounts · AA
- 2009-08-29📄legacyofficers · 288b
- 2009-07-31➖WAUGH, Catriona Williamson resigneddirector
- 2009-07-17📄legacyannual-return · 363a
- 2008-09-03🔒Charge registered #43Lender: Clydesdale Bank PLC
- 2008-05-08🔒Charge registered #42Lender: Clydesdale Bank PLC
- 2007-10-04🔒Charge registered #41Lender: Clydesdale Bank Public Limited Company
- 2007-06-26🔒Charge registered #40Lender: Clydesdale Bank Public Limited Company
- 2007-03-15🔓Charge satisfied #8
- 2006-06-02🔒Charge registered #39Lender: Inbev UK Limited
- 2005-12-23🔓Charge satisfied #27
- 2005-12-23🔓Charge satisfied #21
- 2005-12-23🔓Charge satisfied #19
- 2005-12-23🔓Charge satisfied #17
- 2005-12-23🔓Charge satisfied #16
Showing most recent 50 of 100 events
Owner dependency
83/100
Critical — business is the founderThe 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 29 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 66 — succession pressure is live.
Succession & seller-readiness
86/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 66. Approaching typical UK retirement age — succession thinking likely.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- primary20+ year tenure: Director in role 29 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 29 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
2 high · 1 med · 1 lowCompany dissolved
highCompany has been dissolved — it no longer legally exists. Any diligence here is historical only.
Evidence: Dissolved on 2017-02-28
3 insolvency-related filings on record
highFilings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.
Evidence: 2016-02-11: liquidation-receiver-ceasing-to-act-scotland; 2011-11-15: liquidation-receiver-receivers-report-scotland
Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
20 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
🔒Co-director network graph
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
11 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
Statusdissolved
Typeltd
Incorporated1997-06-27
Jurisdictionscotland
Primary SIC5510 — SIC 5510
Registered office
C/O KPMG
191 West George Street
Glasgow
G2 2LJ
Filing status
Accounts
Next due: —
Last made up to: 2009-07-31
Confirmation statement
Next due: —
Last: —
Officers (0 active · 3 resigned)
SPANNER, Richard Timothy→
Activesecretary · appointed 2005-11-10
View their other companies + combined net worth →
SPANNER, Richard Timothy→
Activedirector · ~66y · appointed 2000-03-01
View their other companies + combined net worth →
WAUGH, Kenneth Mcdougall→
Activedirector · ~65y · appointed 1997-07-01
View their other companies + combined net worth →
HBJ SECRETARIAL LIMITED→
Resignedcorporate-nominee-secretary · appointed 1997-06-27 · resigned 2005-11-10
WAUGH, Catriona Williamson→
Resigneddirector · ~61y · appointed 2000-03-01 · resigned 2009-07-31
HENDERSON BOYD JACKSON LIMITED→
Resignedcorporate-nominee-director · appointed 1997-06-27 · resigned 1997-07-01
Click a director name to see their full track record across all companies.
Mortgages & charges
42
Total charges
20
Outstanding
2
Active lenders
Status:Lender:42 of 42 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Virgin Money Clydesdale Bank PLC | Standard security | 1 property | 03/09/2008 | — | |
| satisfied | Virgin Money Clydesdale Bank PLC | Standard security | 1 property | 08/05/2008 | 09/12/2010 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 04/10/2007 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 26/06/2007 | 09/12/2010 | |
| outstanding | Inbev UK Inbev UK Limited | Floating charge | 1 property | 02/06/2006 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | 09/12/2010 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | 09/12/2010 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | 09/12/2010 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | 09/12/2010 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/12/2005 | 09/12/2010 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 24/10/2005 | — | |
| satisfied | Carlsberg (UK) Scotland Carlsberg (UK) Scotland Limited | Standard security | 1 property | 07/06/2005 | 23/12/2005 | |
| satisfied | Aib Group (UK) Aib Group (UK) PLC | Standard security | 1 property | 07/06/2005 | 02/12/2005 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 02/06/2003 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 04/04/2003 | 09/12/2010 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 12/12/2002 | 09/12/2010 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 04/12/2002 | 09/12/2010 | |
| satisfied | Carlsberg-Tetley Scotland Carlsberg-Tetley Scotland Limited | Standard security | 1 property | 06/11/2002 | 23/12/2005 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 06/11/2002 | 09/12/2010 | |
| satisfied | Carlsberg-Tetley Scotland Carlsberg-Tetley Scotland Limited | Standard security | 1 property | 18/10/2002 | 23/12/2005 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 2 properties | 30/09/2002 | — | |
| satisfied | Carlsberg-Tetley Scotland Carlsberg-Tetley Scotland Limited | Standard security | 1 property | 16/09/2002 | 23/12/2005 | |
| satisfied | Carlsberg-Tetley Scotland Carlsberg-Tetley Scotland Limited | Standard security | 1 property | 16/09/2002 | 23/12/2005 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 22/03/2002 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 13/12/2001 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 13/11/2001 | — | |
| satisfied | Carlsberg-Tetley Scotland Carlsberg-Tetley Scotland Limited | Bond & floating charge | 1 property | 26/10/2001 | 23/12/2005 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 09/02/2001 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 17/11/2000 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 08/06/2000 | 15/03/2007 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 03/04/2000 | 09/12/2010 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 06/03/2000 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 06/03/2000 | 23/12/2005 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 06/03/2000 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 04/10/1999 | — | |
| satisfied | The Trustees of Kenneth Macdougal Waugh's Inter Vivos Trust | Standard security | 1 property | 02/12/1998 | 20/02/2001 | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 06/11/1998 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (123 total)
gazette-dissolved-compulsory
gazette · GAZ2
2017-02-28
dissolved-compulsory-strike-off-suspended
dissolution · DISS16(SOAS)
2016-08-05
gazette-notice-compulsory
gazette · GAZ1
2016-07-12
liquidation-receiver-ceasing-to-act-scotland
insolvency · 3(Scot)
2016-02-11
liquidation-receiver-receivers-report-scotland
insolvency · 3.5(Scot)
2011-11-15
liquidation-receiver-appointment-of-receiver-scotland
insolvency · 1(Scot)
2011-11-15
certificate-change-of-name-company
change-of-name · CERTNM
2011-08-10
resolution
resolution · RESOLUTIONS
2011-08-10
change-registered-office-address-company-with-date-old-address
address · AD01
2011-08-03
legacy
mortgage · MG02s
2010-12-10
legacy
mortgage · MG02s
2010-12-10
legacy
mortgage · MG02s
2010-12-10
legacy
mortgage · MG02s
2010-12-10
legacy
mortgage · MG02s
2010-12-10
legacy
mortgage · MG02s
2010-12-10