MORRISON HORNER TRANSPORT LTD.

🌳Matureactive

SC188481 · ltd · incorporated 1998-08-12

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 9.1y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Aug 2025

Net worth

—

book net assets

Opportunity

82/100

Exceptional

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What this business does

Primary activity: Freight transport by road

Sector: Transportation & storage

Investor take

Pursue

Strong opportunity: active trading company with exceptional profile and bankable structure.

Opportunity 82/100 (exceptional), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

1 live charge · oldest 9.1y

85/100

ready

Refinance conversation should be productive — structure clean and timing right.

· Oldest live charge is 9.1 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: medium (77/100)

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

Lenders & charges

1 charges (1/1 with lender, 1/1 with type)

Directors & officers

8 officers (5 active, 8 linked, 4 with DOB)

Ownership & PSC

3 active PSC(s) of 4 total, 4 with control declared

Director network

Network not yet resolved

Filing history

89 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

82/100Exceptional

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.

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

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	2025-08-31	2024-08-31
Total assets	—	£1.25M
Current assets	—	£620.2k
Cash	—	£269.0k
Debtors	—	£351.2k
Net assets	—	£574.5k
Average employees	52	—

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

• 1 persons-with-significant-control
• 1 accounts

Last 90 days

filings

• 1 persons-with-significant-control
• 1 accounts

Last 180 days

filings

• 1 persons-with-significant-control
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (34 events)Click to expand

2026-04-16
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-04-14
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-17
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-17
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-02
📄
change-person-director-company-with-change-date
officers · CH01
2023-11-02
📄
change-person-director-company-with-change-date
officers · CH01
2023-11-02
📄
change-person-director-company-with-change-date
officers · CH01
2023-11-02
📄
change-person-secretary-company-with-change-date
officers · CH03
2023-11-02
📄
change-person-secretary-company-with-change-date
officers · CH03
2023-11-02
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-06-15
📄
capital-allotment-shares
capital · SH01
2023-06-15
📄
capital-allotment-shares
capital · SH01
2023-06-15
📄
capital-allotment-shares
capital · SH01
2023-06-15
📄
capital-allotment-shares
capital · SH01
2023-06-06
📄
capital-allotment-shares
capital · SH01
2023-05-24
📄
capital-name-of-class-of-shares
capital · SH08
2023-05-19
📄
memorandum-articles
incorporation · MA
2023-05-19
📄
resolution
resolution · RESOLUTIONS
2023-02-28
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-26
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-01-23
➖
MORRISON, Louise Boyd resigned
director
2021-12-13
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2017-03-30
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
2000-05-01
➕
HORNER, Christine appointed
director
2000-05-01
➕
MORRISON, Louise Boyd appointed
director
1998-08-25
➕
HORNER, Ronald appointed
secretary
1998-08-12
🏢
Company incorporated
As MORRISON HORNER TRANSPORT LTD.
1998-08-12
➕
MORRISON, David appointed
secretary
1998-08-12
➕
HORNER, Ronald appointed
director
1998-08-12
➕
MORRISON, David appointed
director
1998-08-12
➕
FIRST SCOTTISH SECRETARIES LIMITED appointed
corporate-nominee-secretary
1998-08-12
➖
FIRST SCOTTISH SECRETARIES LIMITED resigned
corporate-nominee-secretary
1998-08-12
➕
FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED appointed
corporate-nominee-director
1998-08-12
➖
FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED resigned
corporate-nominee-director

Owner dependency

91/100

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

+Founder name in company name: Company name contains director surname "HORNER" — strong identity link between founder and business.
+Long-tenure founder: Senior director has been in place 28 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 59 — approaching natural succession window.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

70/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
primary20+ year tenure: Director in role 28 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 28 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

3 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr David Morrision Individual · British · DOB 02/1971 · age 55	25–50%	25–50%	sig. influence25-50% shares · 25-50% voting · significant influence · firm interest	01/07/2016
Mr Ronald Horner Individual · British · DOB 11/1967 · age 59	25–50%	25–50%	sig. influence25-50% shares · 25-50% voting · significant influence	01/07/2016
Mrs Christine Horner Individual · British · DOB 01/1968 · age 58	25–50%	25–50%	sig. influence25-50% shares · 25-50% voting · significant influence	01/07/2016

1 historic (ceased) PSC

Mrs Louise Boyd Morrisonceased 23/01/2023· 25-50% shares · 25-50% voting · significant influence

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

Similar companies

Active · Transport & logistics · FK postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
MIDLAND BLUEBIRD LIMITED→ SC016923 · est 1932	£7.30M £5.47M–£9.12M	£25.59M	—	28800	93y	97	63y
JBP TRANSPORT LIMITED→ SC108240 · est 1987	—	—	£1.41M	—	38y	83	84y
A A K HAULAGE LIMITED→ SC237856 · est 2002	—	—	—	200	23y	82	61y
ARTIC TRAILER SERVICES (FALKIRK) LIMITED→ SC051346 · est 1972 · no financials extracted	—	—	—	—	53y	82	68y
CALEDONIAN FREIGHT LIMITED→ SC084213 · est 1983	—	—	£570.7k	—	42y	82	69y
ECOSSE HOLDINGS LIMITED→ SC044163 · est 1966	—	—	£4.61M	—	59y	82	91y
HUNTER TRANSPORT LTD.→ SC324530 · est 2007	—	—	£153.1k	—	18y	82	61y
IMB TRANSPORT LTD.→ SC375046 · est 2010	—	—	—	22	16y	82	59y
MCCLENAGHAN OF SLAMANNAN LTD.→ SC223696 · est 2001	—	—	£1.79M	—	24y	82	71y
MILLAR INTERNATIONAL FREIGHT TRANSPORT LIMITED→ SC126477 · est 1990	—	—	£390.4k	—	35y	82	61y
MILLERS COACHES SCOTLAND LIMITED→ SC263783 · est 2004	—	—	—	800	22y	82	72y
TBW34 LTD→ SC665858 · est 2020 · no financials extracted	—	—	—	—	5y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

6 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.

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Company details

Statusactive

Typeltd

Incorporated1998-08-12

Jurisdictionscotland

Primary SIC49410 — Freight transport by road

Registered office

2 Melville Street

Falkirk

FK1 1HZ

Filing status

Accounts

Next due: 2027-05-31

Last made up to: 2025-08-31

Confirmation statement

Next due: 2026-08-26

Last: 2025-08-12