LYON & TURNBULL LIMITED

📉Decliningactive

SC191166 · ltd · incorporated 1998-11-16

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 Jul 2025

Net worth

—

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: SIC 47791

Sector: Wholesale & retail

Investor take

Pursue

Leverage-led grower with a 77-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 77). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (57/100).

🏦

Refinance opportunity

9 live charges · 4 lenders · oldest 26.6y

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 26.6 years old — likely at or near maturity.
· 4 lenders named — inter-creditor friction likely.
· Legal-friction score 48/100 (high).

Data confidence

Overall: high (80/100)

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

Lenders & charges

9 charges (9/9 with lender, 9/9 with type)

Directors & officers

25 officers (10 active, 25 linked, 20 with DOB)

Ownership & PSC

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

Director network

3 connected companies via shared directors

Filing history

143 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →

Opportunity Score

80/100Exceptional

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 102

Profitable

Profit before tax £230,118

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	2025-07-31	2024-07-31
Profit before tax	£230.1k	£692.5k
Average employees	75	6700

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

2 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

filing

• 1 accounts

Last 90 days

filing

• 1 accounts

Last 180 days

filings

• 1 accounts
• 1 confirmation-statement
• 1 officers

Counts from Companies House filing history.

Corporate timeline (77 events)Click to expand

2026-04-24
📄
accounts-with-accounts-type-full
accounts · AA
2025-11-23
📄
change-person-director-company-with-change-date
officers · CH01
2025-08-08
📄
change-person-director-company-with-change-date
officers · CH01
2025-03-21
📄
accounts-with-accounts-type-full
accounts · AA
2024-11-28
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-08-13
📄
memorandum-articles
incorporation · MA
2024-08-13
📄
resolution
resolution · RESOLUTIONS
2024-08-13
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2024-08-13
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-08-13
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-07-29
➖
BROWN, Roger Thomas resigned
director
2024-04-24
📄
accounts-with-accounts-type-full
accounts · AA
2023-12-19
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-12-18
➕
BREMNER, William Alexander appointed
secretary
2023-12-18
➖
MCFADDEN, Mhairi resigned
secretary
2023-12-18
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2023-12-18
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2023-12-10
📄
mortgage-satisfy-charge-full
mortgage · MR04
2023-12-10
🔓
Charge satisfied #5
2023-12-05
➕
BREMNER, William Alexander appointed
director
2023-09-01
➖
MCFADDEN, Mhairi resigned
director
2023-09-01
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-03-21
📄
accounts-with-accounts-type-full
accounts · AA
2023-03-14
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-03-14
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-03-14
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-03-09
➕
MACKINNON, Iain Francis appointed
director
2023-03-09
➕
SMITH, Philip appointed
director
2023-03-09
➕
BROWN, Roger Thomas appointed
director
2022-05-26
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-05-13
➖
GROSSART, Angus Mcfarlane Mcleod, Sir resigned
director
2020-12-17
➕
DOVE, Alexandra appointed
director
2020-12-04
➖
GROSVENOR, Bendor, Dr resigned
director
2018-03-20
➖
KYLE, Trevor Henry resigned
director
2017-12-01
➕
GROSVENOR, Bendor, Dr appointed
director
2017-11-20
➖
YOUNG, Lee resigned
director
2015-04-20
➖
DOERR, Rachel Anne resigned
director
2014-10-08
➖
ARMOUR, Campbell Grant resigned
secretary
2014-10-08
➕
MCFADDEN, Mhairi appointed
secretary
2013-10-30
➕
MCFADDEN, Mhairi appointed
director
2013-10-30
➕
YOUNG, Lee appointed
director
2008-06-05
🔓
Charge satisfied #6
2008-06-05
🔓
Charge satisfied #4
2008-06-05
🔓
Charge satisfied #3
2008-06-05
🔓
Charge satisfied #2
2008-05-30
🔒
Charge registered #9
Lender: Bank of Scotland PLC
2008-05-30
🔒
Charge registered #8
Lender: Bank of Scotland PLC
2008-05-23
🔒
Charge registered #7
Lender: Bank of Scotland PLC
2007-08-24
➕
STRANG, Gavin Robert appointed
director
2007-08-24
➕
DOERR, Rachel Anne appointed
director

Showing most recent 50 of 77 events

Owner dependency

65/100

High — earn-out structure required

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

FACTORS

-9 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 27 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 77 — succession pressure is live.

Succession & seller-readiness

80/100

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 77 years old. Natural succession window is now.
primary20+ year tenure: Director in role 27 years. Very long tenure is a classic succession signal.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

Iona Acquisition Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Iona Acquisition Limited

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

LYON & TURNBULL LIMITED

This company · SC191166

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
Iona Acquisition Limited Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	29/07/2024

2 historic (ceased) PSCs

Mr Nicholas Curnowceased 29/07/2024· 25-50% shares
Noble Grossart Investments Limitedceased 29/07/2024· 25-50% shares

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 · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
PENTLAND KITCHENS LIMITED→ SC307579 · est 2006	£710.4k £532.8k–£888.0k	—	—	2000	19y	83	63y
M&F FUNERAL SERVICES LIMITED→ SC365033 · est 2009	£671.4k £503.6k–£839.3k	—	—	1400	16y	88	61y
FESTIVAL FRINGE TRADING LIMITED→ SC130813 · est 1991	£497.4k £373.1k–£621.8k	—	—	0	35y	85	77y
DRINX.COM LIMITED→ SC203859 · est 2000	—	—	£353.7k	—	26y	83	63y
GLASGOW ARCHITECTURAL SALVAGE LIMITED→ SC248258 · est 2003 · no financials extracted	—	—	—	—	23y	83	58y
GLENTERRIN LIMITED→ SC116076 · est 1989	—	—	—	7100	37y	83	64y
GRAHAM TISO LIMITED→ SC081944 · est 1983 · no financials extracted	—	—	—	—	43y	83	60y
NGS TRADING COMPANY LIMITED→ SC312797 · est 2006 · no financials extracted	—	—	—	—	19y	83	68y
PLANET FLOWERS LTD.→ SC212761 · est 2000	—	—	£208.8k	—	25y	83	78y
THE DORMANT DISTILLERY COMPANY LIMITED→ SC172078 · est 1997	—	—	—	64	29y	83	62y
THE GREAT GROG COMPANY LIMITED→ SC194873 · est 1999	—	—	£501.5k	—	27y	83	64y
8 YARDS LIMITED→ SC158881 · est 1995	—	—	—	27	30y	82	66y

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

Incorporated1998-11-16

Jurisdictionscotland

Primary SIC47791 — SIC 47791

Registered office

33 Broughton Place

Edinburgh

Midlothian

EH1 3RR

Filing status

Accounts

Next due: 2027-04-30

Last made up to: 2025-07-31

Confirmation statement

Next due: 2026-11-30

Last: 2025-11-16