THORNLEA (FORFAR) LIMITED

💤Zombieactive
SC177605 · ltd · incorporated 1997-07-30
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jan 2025
Net worth
£2.38M
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Sale of new cars and light motor vehicles
Sector: Wholesale & retail
Investor take
Pursue
Active trading company with a 87-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (83/100, director aged 87). 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 (73/100).

🏦

Refinance opportunity

3 live charges · oldest 25.6y

45/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 25.6 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

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, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 2 with DOB)
80
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
78 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.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £2,379,961
Net assets shrinking
Down £267,352 YoY

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£2.4m
↓ 10% YoY
Current Assets
£222k
↓ 42% YoY
Current Liabilities
—
£0£529k£1.1m£1.6m£2.1m£2.6mJan 2024Jan 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-01-312024-01-31
Total assets£2.38M£2.65M
Current assets£221.5k£383.7k
Net assets£2.38M£2.65M

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
0
filings
Counts from Companies House filing history.
Corporate timeline (29 events)Click to expand
  1. 2025-11-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  2. 2025-11-03
    ➖
    FISKEN, Ian Baxter resigned
    director
  3. 2025-10-23
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2025-10-23
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  5. 2025-10-23
    📄
    change-person-director-company-with-change-date
    officers · CH01
  6. 2025-10-23
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2025-10-23
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  8. 2025-10-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2024-10-24
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2023-10-26
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2022-10-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2022-06-16
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  13. 2022-06-16
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  14. 2021-10-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2021-01-26
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2020-06-08
    📄
    capital-name-of-class-of-shares
    capital · SH08
  17. 2020-03-04
    📄
    capital-alter-shares-subdivision
    capital · SH02
  18. 2020-02-28
    📄
    capital-variation-of-rights-attached-to-shares
    capital · SH10
  19. 2020-02-28
    📄
    capital-name-of-class-of-shares
    capital · SH08
  20. 2020-02-28
    📄
    resolution
    resolution · RESOLUTIONS
  21. 2019-04-26
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  22. 2000-10-03
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  23. 2000-10-03
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  24. 1997-07-30
    🏢
    Company incorporated
    As THORNLEA (FORFAR) LIMITED
  25. 1997-07-30
    ➕
    FISKEN, Vivian Falconer appointed
    secretary
  26. 1997-07-30
    ➕
    FISKEN, Vivian Falconer appointed
    director
  27. 1997-07-30
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  28. 1997-07-30
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary
  29. 1997-07-30
    ➕
    FISKEN, Ian Baxter appointed
    director

Owner dependency

100/100
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
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Long-tenure founder: Senior director has been in place 29 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 87 — succession pressure is live.

Succession & seller-readiness

100/100
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 87 years old. Natural succession window is now.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mrs Vivian Falconer Fisken
Individual · British · DOB 01/1939 · age 87
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
Mr Ian Baxter Fisken
Individual · British · DOB 04/1936 · age 90
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

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 · Automotive · DD postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
ANGUS TYRES LIMITED→
SC364816 · est 2009
———3516y8386y
BALDOWRIE GARAGE LTD→
SC281548 · est 2005
——£37.2k—21y8269y
BILL STEPHEN MOTORS LIMITED→
SC235937 · est 2002
———120023y8270y
BRIDGE END GARAGE (MONTROSE) LIMITED→
SC380714 · est 2010
——£152.5k—15y8258y
DEALFINDER LIMITED→
SC075226 · est 1981
——£56.4k—44y8271y
DUNCAN MCINTOSH TRAILERS LIMITED→
SC314598 · est 2007
——£179.1k—19y8275y
EAST COAST SPRAY SHOP LTD→
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———20016y8261y
I & G MOTORS LTD.→
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——£10.1k—24y8267y
JOHN MCGREGOR (BRO'TY) LIMITED→
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———70023y8265y
T S TRANSPORT (SCOTLAND) LIMITED→
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———140022y8279y
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NEWTYLE COMMERCIALS LIMITED→
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

9 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
Incorporated1997-07-30
Jurisdictionscotland
Primary SIC45111 — Sale of new cars and light motor vehicles

Registered office

Queenswell Road
Forfar
Tayside
DD8 3HZ

Filing status

Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2026-06-20
Last: 2025-06-06

Officers (2 active · 2 resigned)

FISKEN, Vivian Falconer→
secretary · appointed 1997-07-30
View their other companies + combined net worth →
Active
FISKEN, Vivian Falconer→
director · ~87y · appointed 1997-07-30
View their other companies + combined net worth →
Active
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 1997-07-30 · resigned 1997-07-30
Resigned
FISKEN, Ian Baxter→
director · ~90y · appointed 1997-07-30 · resigned 2025-11-03
Resigned

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

Mortgages & charges

3
Total charges
3
Outstanding
1
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge—26/04/2019—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Legal charge1 property03/10/2000—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Legal charge2 properties03/10/2000—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (78 total)

termination-director-company-with-name-termination-date
officers · TM01
2025-11-05
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-10-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-10-23
change-person-director-company-with-change-date
officers · CH01
2025-10-23
change-person-director-company-with-change-date
officers · CH01
2025-10-23
change-person-secretary-company-with-change-date
officers · CH03
2025-10-23
accounts-with-accounts-type-micro-entity
accounts · AA
2025-10-17
confirmation-statement-with-updates
confirmation-statement · CS01
2025-06-13
accounts-with-accounts-type-micro-entity
accounts · AA
2024-10-24
confirmation-statement-with-updates
confirmation-statement · CS01
2024-06-07
accounts-with-accounts-type-micro-entity
accounts · AA
2023-10-26
confirmation-statement-with-updates
confirmation-statement · CS01
2023-06-22
accounts-with-accounts-type-micro-entity
accounts · AA
2022-10-28
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-06-16
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-06-16