FMS FIRE AND SECURITY LTD.

🌳Matureactive

SC192654 · ltd · incorporated 1999-01-19

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.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Mar 2025

Net worth

£3.32M

book net assets

Opportunity

72/100

Strong

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What this business does

Primary activity: Security systems service activities

Sector: Administrative & support services

Investor take

Pursue

Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

Opportunity 72/100 (strong), bankability 77/100. Strong seller-intent signal (68/100, director aged 55). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 6 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

5 live charges · 5 lenders · oldest 26.9y

35/100

too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

· Oldest live charge is 26.9 years old — likely at or near maturity.
· 5 lenders named — inter-creditor friction likely.
· Legal-friction score 33/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (72/100)

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

1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed

Lenders & charges

5 charges (5/5 with lender, 5/5 with type)

Directors & officers

13 officers (2 active, 13 linked, 9 with DOB)

Ownership & PSC

1 active PSC(s) of 5 total, 5 with control declared

Director network

1 connected companies via shared directors

Filing history

155 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

72/100Strong

PassWatchWorth a lookStrongExceptional

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Some acquirability indicators.

Risk profile

Some moderate concerns — review 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 £3,317,114

Key financials

1 year extracted from filed iXBRL accounts

Cash

£2.8m

Net Worth

£3.3m

Current Assets

£5.4m

Current Liabilities

—

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-03-31
Total assets	£3.38M
Current assets	£5.41M
Cash	£2.75M
Debtors	£2.61M
Net assets	£3.32M

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

filings

Last 90 days

filings

• 4 officers
• 2 address
• 2 mortgage

Last 180 days

filings

• 4 officers
• 2 address
• 2 mortgage

Counts from Companies House filing history.

Corporate timeline (55 events)Click to expand

2026-04-14
📄
resolution
resolution · RESOLUTIONS
2026-04-08
📄
memorandum-articles
incorporation · MA
2026-04-03
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-04-02
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-02
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-04-02
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-04-02
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2026-04-02
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-03-31
➕
MILNE, Darren James Ivor appointed
director
2026-03-31
➖
MAIN, Karen resigned
secretary
2026-03-31
➖
CALVIN, Derek Robert Franklin resigned
director
2026-03-31
➖
SMITH, Andrew resigned
director
2026-03-30
📄
mortgage-satisfy-charge-full
mortgage · MR04
2026-03-30
🔓
Charge satisfied #5
2026-03-06
📄
mortgage-satisfy-charge-full
mortgage · MR04
2026-03-06
🔓
Charge satisfied #4
2025-12-19
📄
accounts-with-accounts-type-medium
accounts · AA
2025-11-12
📄
accounts-amended-with-accounts-type-full
accounts · AAMD
2025-11-12
📄
accounts-amended-with-accounts-type-full
accounts · AAMD
2025-11-12
📄
accounts-amended-with-accounts-type-full
accounts · AAMD
2024-12-16
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-21
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-16
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-01-17
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-01-17
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-01-17
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-05-04
🔒
Charge registered #5
Lender: Brenden Kevin Gary Doherty
2021-01-15
➖
DOHERTY, Brenden Kevin Gary resigned
director
2021-01-15
➖
MILLS, Robert resigned
director
2021-01-06
🔓
Charge satisfied #3
2018-09-01
➕
CALVIN, Derek Robert Franklin appointed
director
2016-05-17
➖
MITCHELL, Gary Ronald Frederick resigned
director
2015-05-21
➖
LAING, George resigned
director
2015-01-15
🔒
Charge registered #4
Lender: The Royal Bank of Scotland PLC
2013-05-22
🔓
Charge satisfied #2
2013-04-29
🔒
Charge registered #3
Lender: Bank of Scotland PLC
2010-03-25
🔓
Charge satisfied #1
2009-11-25
🔒
Charge registered #2
Lender: Royal Bank of Scotland PLC
2007-11-01
➕
REA, Dominic appointed
director
2007-11-01
➕
SMITH, Andrew appointed
director
2006-01-24
➕
MAIN, Karen appointed
secretary
2006-01-24
➖
MILLS, Robert resigned
secretary
2004-07-31
➖
HIGHTON, Christy resigned
secretary
2003-11-01
➕
MILLS, Robert appointed
secretary
2003-04-01
➕
DOHERTY, Brenden Kevin Gary appointed
director
2001-12-03
➕
LAING, George appointed
director
2001-08-31
➖
BAIRD, Alan resigned
director
1999-06-21
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
1999-04-01
➕
MITCHELL, Gary Ronald Frederick appointed
director
1999-01-19
🏢
Company incorporated
As FMS FIRE AND SECURITY LTD.

Showing most recent 50 of 55 events

Owner dependency

68/100

High — earn-out structure required

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

FACTORS

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
+Long-tenure founder: Senior director has been in place 19 years — deep operational knowledge concentrated in one person.

Succession & seller-readiness

49/100

Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS

secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
secondary12+ year tenure: Director in role 19 years.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

2 med · 1 low

3 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: MAIN, Karen resigned 2026-03-31; CALVIN, Derek Robert Franklin resigned 2026-03-31; SMITH, Andrew resigned 2026-03-31

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.

Multiple registered office changes

low

Multiple address changes in a short period can indicate operational instability or admin disorder.

Group structure

Fms Integrated Solutions Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Fms Integrated Solutions Ltd

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

ultimate parent

⬇

FMS FIRE AND SECURITY LTD.

This company · SC192654

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
Fms Integrated Solutions Ltd Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	15/01/2021

4 historic (ceased) PSCs

Mr Andrew Milne Smithceased 15/01/2021· significant influence
Mr Brenden Kevin Gary Dohertyceased 15/01/2021· significant influence
Mr Dominic Reaceased 15/01/2021· significant influence
Mr Robert Millsceased 15/01/2021· significant influence

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 →

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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.

See pricing →

Company details

Statusactive

Typeltd

Incorporated1999-01-19

Jurisdictionscotland

Primary SIC80200 — Security systems service activities

Registered office

Unit 2 Dryden Place

Bilston Glen Industrial Estate

Loanhead

Midlothian

EH20 9HP

Scotland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2026-11-01

Last: 2025-10-18

Officers (2 active · 11 resigned)

MILNE, Darren James Ivor→

director · ~55y · appointed 2026-03-31

View their other companies + combined net worth →

Active

REA, Dominic→

director · ~55y · appointed 2007-11-01

View their other companies + combined net worth →

Active

HIGHTON, Christy→

secretary · appointed 1999-01-19 · resigned 2004-07-31

Resigned

MAIN, Karen→

secretary · appointed 2006-01-24 · resigned 2026-03-31

Resigned

MILLS, Robert→

secretary · appointed 2003-11-01 · resigned 2006-01-24

Resigned

OSWALDS OF EDINBURGH LIMITED→

corporate-nominee-secretary · appointed 1999-01-19 · resigned 1999-01-19

Resigned

BAIRD, Alan→

director · ~56y · appointed 1999-01-19 · resigned 2001-08-31

Resigned

CALVIN, Derek Robert Franklin→

director · ~51y · appointed 2018-09-01 · resigned 2026-03-31

Resigned

DOHERTY, Brenden Kevin Gary→

director · ~56y · appointed 2003-04-01 · resigned 2021-01-15

Resigned

LAING, George→

director · ~73y · appointed 2001-12-03 · resigned 2015-05-21

Resigned

MILLS, Robert→

director · ~63y · appointed 1999-01-19 · resigned 2021-01-15

Resigned

MITCHELL, Gary Ronald Frederick→

director · ~63y · appointed 1999-04-01 · resigned 2016-05-17

Resigned

SMITH, Andrew→

director · ~56y · appointed 2007-11-01 · resigned 2026-03-31

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:5 of 5 shown

		Type	Properties
satisfied	Brenden Kevin Gary Doherty / Robert Mills	A registered charge	1 property	04/05/2021	30/03/2026
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	A registered charge	—	15/01/2015	06/03/2026
satisfied	Lloyds Banking Group Bank of Scotland PLC	A registered charge	1 property	29/04/2013	06/01/2021
satisfied	Lloyds Banking Group Royal Bank of Scotland PLC	Floating charge	1 property	25/11/2009	22/05/2013
satisfied	Lloyds Banking Group The Governor and Company of the Bank of Scotland	Floating charge	1 property	21/06/1999	25/03/2010

Recent filings (155 total)

resolution

resolution · RESOLUTIONS

2026-04-14

memorandum-articles

incorporation · MA

2026-04-08

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2026-04-03

appoint-person-director-company-with-name-date

officers · AP01

2026-04-02

termination-director-company-with-name-termination-date

officers · TM01

2026-04-02

termination-director-company-with-name-termination-date

officers · TM01

2026-04-02

termination-secretary-company-with-name-termination-date

officers · TM02

2026-04-02

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2026-04-02

mortgage-satisfy-charge-full

mortgage · MR04

2026-03-30

mortgage-satisfy-charge-full

mortgage · MR04

2026-03-06

accounts-with-accounts-type-medium

accounts · AA

2025-12-19

accounts-amended-with-accounts-type-full

accounts · AAMD

2025-11-12

accounts-amended-with-accounts-type-full

accounts · AAMD

2025-11-12

accounts-amended-with-accounts-type-full

accounts · AAMD

2025-11-12

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-10-28