BALMORAL ASSET MANAGEMENT LIMITED
📉Decliningactive
SC182721 · ltd · incorporated 1998-02-04
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
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
- · Lifecycle stage drifting downward
- · Currently "declining"
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Dec 2024
Net worth
—
book net assets
Opportunity
72/100
Strong
What this business does
Primary activity: Financial intermediation not elsewhere classified
Sector: Financial & insurance
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 72/100 (strong), bankability 85/100. Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (65/100).
🏦
Refinance opportunity
4 live charges · oldest 16.3y
55/100
clean up first
Refinance viable after a tidy-up — address the highlighted items first.
- · Oldest live charge is 16.3 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Legal-friction score 28/100 — workable, but lender will want more DD.
- · Not currently profitable — coverage conversation is a harder sell.
Data confidence
Overall: high (84/100)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
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
22 officers (2 active, 22 linked, 19 with DOB)
87
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
18 connected companies via shared directors
90
Filing history
161 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
72/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
50
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Loss-making
Loss before tax £141,559
Slipped into loss
Moved from profit to loss this year
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2024-12-31 | 2023-12-31 |
|---|---|---|
| Turnover | — | £2.36M |
| Gross profit | — | £1.79M |
| Operating profit | £-89.3k | £1.07M |
| Profit before tax | £-141.6k | £846.5k |
| Average employees | 200 | 300 |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
5 signals 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
1
filing
- • 1 confirmation-statement
Last 180 days
3
filings
- • 2 officers
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (72 events)Click to expand
- 2025-11-19📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-11-14➕DICKSON, Graeme Grattan appointeddirector
- 2025-11-14📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-11-07➖THOMAS, Charlotte Emily resigneddirector
- 2025-09-23📄change-person-director-company-with-change-dateofficers · CH01
- 2025-04-29📄accounts-with-accounts-type-fullaccounts · AA
- 2025-03-04➕WOOD, Thomas Francis appointeddirector
- 2025-03-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-03-04📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-02-03➖MOLES, Neil Anthony resigneddirector
- 2024-05-31📄accounts-with-accounts-type-fullaccounts · AA
- 2024-01-18📄accounts-with-accounts-type-fullaccounts · AA
- 2023-11-16📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-09-05➖ALLEN, Steven Michael resigneddirector
- 2023-05-02📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-04-28➖MACDONALD, Stuart Clark resigneddirector
- 2023-04-18📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-04-18📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-11-09📄memorandum-articlesincorporation · MA
- 2022-11-09📄resolutionresolution · RESOLUTIONS
- 2022-10-28📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2022-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-10-28📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-10-28📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2022-10-14➖MACDONALD, Stuart Clark resignedsecretary
- 2022-10-14➕ALLEN, Steven Michael appointeddirector
- 2022-10-14➖ATKINSON, Euan Edward resigneddirector
- 2022-10-14➖BURRELL, Mark Andrew resigneddirector
- 2022-10-14➖CONSIDINE, Douglas Charles resigneddirector
- 2022-10-14➖HENDRY, Christopher Martin William resigneddirector
- 2022-10-14➕MOLES, Neil Anthony appointeddirector
- 2022-10-14➕THOMAS, Charlotte Emily appointeddirector
- 2022-09-14➕ALLEN, Steven Michael appointeddirector
- 2022-09-14➖ALLEN, Steven Michael resigneddirector
- 2022-05-12🔓Charge satisfied #4
- 2022-05-12🔓Charge satisfied #3
- 2022-05-12🔓Charge satisfied #2
- 2019-02-18🔒Charge registered #4Lender: Bank of Scotland PLC
- 2019-02-01🔒Charge registered #3Lender: Bank of Scotland PLC
- 2018-09-20🔓Charge satisfied #1
- 2015-10-02➕CONSIDINE, Douglas Charles appointeddirector
- 2015-10-02➕HENDRY, Christopher Martin William appointeddirector
- 2014-04-30➖REID, Alan John resigneddirector
- 2010-02-04🔒Charge registered #2Lender: Bank of Scotland PLC
- 2010-01-20🔒Charge registered #1Lender: Bank of Scotland PLC
- 2009-07-06➕ATKINSON, Euan Edward appointeddirector
- 2004-07-15➕BURRELL, Mark Andrew appointeddirector
Showing most recent 50 of 72 events
Owner dependency
58/100
Moderate — manageable with handoverSome founder dependency, but not acute. A structured handover period should cover most risk.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
Succession & seller-readiness
36/100
Weak signalLimited succession signal. Not a near-term off-market candidate.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
The Progeny Group Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
The Progeny Group Limited
Corporate parent · holds 75-100% shares · board control
⬇
BALMORAL ASSET MANAGEMENT LIMITED
This company · SC182721
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 |
|---|---|---|---|---|
The Progeny Group Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 14/10/2022 |
1 historic (ceased) PSC
- Mr Stuart Clark Macdonaldceased 14/10/2022· 50-75% shares · 50-75% voting · firm interest
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 |
|---|---|---|---|---|---|---|---|
| CANINVEST LIMITED→ SC694846 · est 2021 · no financials extracted | — | — | — | — | 5y | — | — |
| CASTLE OPERATIONS LTD→ SC381111 · est 2010 · no financials extracted | — | — | — | — | 15y | — | — |
| CC ADVISER LTD→ SC805857 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| CHOOSE WASTE LIMITED→ SC834774 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| COMPASS WEALTH INTERNATIONAL LIMITED→ SC641418 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| CRAGSIDE PROPERTIES LTD→ SC703753 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| CROMBIE CAPITAL TRANCOSO LIMITED→ SC402025 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
| CSIOF SCOTTISH INVESTOR GP LIMITED→ SC321881 · est 2007 · no financials extracted | — | — | — | — | 18y | — | — |
| CURLEW STUDENT INCENTIVE II LTD.→ SC575207 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| CURRIE HOUSE DEVELOPMENTS LIMITED→ SC576865 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| CURRIE HOUSE INVESTMENTS LIMITED→ SC565705 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| CUSTOM BUILD HOMELOANS LTD→ SC677644 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated1998-02-04
Jurisdictionscotland
Primary SIC64999 — Financial intermediation not elsewhere classified
Registered office
18 Rutland Square
Edinburgh
Midlothian
EH1 2BB
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-02-18
Last: 2026-02-04
Officers (2 active · 20 resigned)
DICKSON, Graeme Grattan→
Activedirector · ~49y · appointed 2025-11-14
View their other companies + combined net worth →
WOOD, Thomas Francis→
Activedirector · ~54y · appointed 2025-03-04
View their other companies + combined net worth →
MACDONALD, Stuart Clark→
Resignedsecretary · appointed 1998-02-04 · resigned 2022-10-14
FIRST SCOTTISH SECRETARIES LIMITED→
Resignedcorporate-nominee-secretary · appointed 1998-02-04 · resigned 1998-02-04
ALLEN, Steven Michael→
Resigneddirector · ~45y · appointed 2022-10-14 · resigned 2023-09-05
ALLEN, Steven Michael→
Resigneddirector · ~45y · appointed 2022-09-14 · resigned 2022-09-14
ATKINSON, Euan Edward→
Resigneddirector · ~51y · appointed 2009-07-06 · resigned 2022-10-14
BURRELL, Mark Andrew→
Resigneddirector · ~57y · appointed 2004-07-15 · resigned 2022-10-14
CONSIDINE, Douglas Charles→
Resigneddirector · ~41y · appointed 2015-10-02 · resigned 2022-10-14
EATON-TURNER, Simon Peter→
Resigneddirector · ~68y · appointed 1998-08-04 · resigned 2001-09-17
HENDRY, Christopher Martin William→
Resigneddirector · ~42y · appointed 2015-10-02 · resigned 2022-10-14
MACDONALD, Allison Ann→
Resigneddirector · ~58y · appointed 2002-07-29 · resigned 2004-07-15
MACDONALD, Allison Ann→
Resigneddirector · ~58y · appointed 1998-02-04 · resigned 1998-08-04
MACDONALD, Stuart Clark→
Resigneddirector · ~58y · appointed 1998-02-04 · resigned 2023-04-28
MOLES, Neil Anthony→
Resigneddirector · ~47y · appointed 2022-10-14 · resigned 2025-02-03
MURRAY, Alexander James→
Resigneddirector · ~98y · appointed 1998-08-04 · resigned 1999-01-12
RAMSAY, Malcolm Craig Coghill→
Resigneddirector · ~63y · appointed 2001-02-07 · resigned 2002-07-29
REID, Alan John→
Resigneddirector · ~66y · appointed 2004-07-15 · resigned 2014-04-30
SHERRET, John Ritchie William→
Resigneddirector · ~65y · appointed 1999-11-01 · resigned 2001-08-02
SHERRET, John Ritchie William→
Resigneddirector · ~65y · appointed 1998-08-04 · resigned 1999-01-22
Click a director name to see their full track record across all companies.
Mortgages & charges
4
Total charges
0
Outstanding
0
Active lenders
Status:Lender:4 of 4 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 4 properties | 18/02/2019 | 12/05/2022 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 01/02/2019 | 12/05/2022 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | Standard security | 1 property | 04/02/2010 | 12/05/2022 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | Bond & floating charge | 1 property | 20/01/2010 | 20/09/2018 |
Recent filings (161 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-17
termination-director-company-with-name-termination-date
officers · TM01
2025-11-19
appoint-person-director-company-with-name-date
officers · AP01
2025-11-14
change-person-director-company-with-change-date
officers · CH01
2025-09-23
accounts-with-accounts-type-full
accounts · AA
2025-04-29
termination-director-company-with-name-termination-date
officers · TM01
2025-03-04
appoint-person-director-company-with-name-date
officers · AP01
2025-03-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-05
accounts-with-accounts-type-full
accounts · AA
2024-05-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-07
accounts-with-accounts-type-full
accounts · AA
2024-01-18
termination-director-company-with-name-termination-date
officers · TM01
2023-11-16
termination-director-company-with-name-termination-date
officers · TM01
2023-05-02
appoint-person-director-company-with-name-date
officers · AP01
2023-04-18
termination-director-company-with-name-termination-date
officers · TM01
2023-04-18