INDIGO (SCOTLAND) LIMITED

💤Zombieactive

SC193859 · ltd · incorporated 1999-03-01

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 Mar 2025

Net worth

—

book net assets

Opportunity

79/100

Strong

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What this business does

Primary activity: Other letting and operating of own or leased real estate

Sector: Real estate

Investor take

Pursue

Strong opportunity: property-backed borrower with strong profile and acceptable with review structure.

Opportunity 79/100 (strong), bankability 67/100. Strong seller-intent signal (80/100, director aged 59). 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 (73/100).

🏦

Refinance opportunity

19 live charges · 4 lenders · oldest 25.6y

15/100

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.
· 4 lenders named — inter-creditor friction likely.
· 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

Lenders & charges

19 charges (19/19 with lender, 19/19 with type)

Directors & officers

5 officers (1 active, 5 linked, 3 with DOB)

Ownership & PSC

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

Director network

1 connected companies via shared directors

Filing history

100 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

79/100Strong

PassWatchWorth a lookStrongExceptional

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

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 · accounting standard unknown

Metric	2025-03-31	2024-03-31
Average employees	100	100

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

Last 90 days

filings

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (67 events)Click to expand

2025-12-31
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-27
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accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-30
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accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-21
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accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-01-10
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-01-08
🔒
Charge registered #19
Lender: Paragon Bank PLC
2021-12-10
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accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-14
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mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-09-14
🔓
Charge satisfied #18
2021-09-14
🔓
Charge satisfied #17
2021-09-14
🔓
Charge satisfied #16
2021-09-14
🔓
Charge satisfied #15
2021-09-14
🔓
Charge satisfied #14
2021-09-14
🔓
Charge satisfied #13
2021-09-14
🔓
Charge satisfied #12
2021-09-14
🔓
Charge satisfied #11
2021-09-14
🔓
Charge satisfied #10
2021-09-14
🔓
Charge satisfied #9
2021-09-14
🔓
Charge satisfied #7
2021-09-14
🔓
Charge satisfied #8
2021-09-14
🔓
Charge satisfied #6
2021-09-14
🔓
Charge satisfied #5
2021-09-14
🔓
Charge satisfied #4
2021-09-14
🔓
Charge satisfied #3
2021-09-14
🔓
Charge satisfied #1
2009-10-08
➖
DUNLOP, Alasdair James Sutherland resigned
director
2009-10-01
➖
DUNLOP, Alasdair James Sutherland resigned
secretary
2007-04-12
🔒
Charge registered #18
Lender: Paragon Mortgages Limited
2007-02-19
🔒
Charge registered #17
Lender: Paragon Mortgages Limited
2007-02-13
🔒
Charge registered #16
Lender: Paragon Mortgages Limited
2007-02-02
🔒
Charge registered #15
Lender: Paragon Mortgages Limited
2007-02-02
🔒
Charge registered #14
Lender: Paragon Mortgages Limited
2007-02-02
🔒
Charge registered #13
Lender: Paragon Mortgages Limited
2006-03-31
➕
DUNLOP, Alasdair James Sutherland appointed
director
2005-11-03
🔒
Charge registered #12
Lender: Mortgage Trust Limited
2005-09-22
🔒
Charge registered #11
Lender: Mortgage Trust Limited
2004-11-18
🔒
Charge registered #10
Lender: Paragon Mortgages Limited

Showing most recent 50 of 67 events

Owner dependency

93/100

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 27 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

85/100

Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
primary20+ year tenure: Director in role 27 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 27 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

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.

Shareholders & ownership

1 active beneficial owner

Name	Shares	Voting rights	Nature of control	Notified
Mr Robert Ian Sutherland Dunlop Individual · British · DOB 10/1967 · age 59	50–75%	50–75%	50-75% shares · 50-75% voting	01/05/2016

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 · Property · KY postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
A J W PROPERTIES (SCOTLAND) LIMITED→ SC254914 · est 2003	£631.0k £536.4k–£725.7k	—	£631.0k	—	22y	82	73y
BENTHEAD DEVELOPMENTS LIMITED→ SC123999 · est 1990	£469.5k £399.1k–£539.9k	—	£469.5k	—	36y	82	65y
ABBEYFORT HOLIDAYS LIMITED→ SC301687 · est 2006	£408.0k £346.8k–£469.2k	—	£408.0k	—	20y	83	61y
TAYLOR BROTHERS (PROPERTY DEVELOPMENT) LIMITED→ SC058985 · est 1975	£314.3k £267.2k–£361.5k	—	£314.3k	—	50y	83	79y
BRAEFIELD LIMITED→ SC158886 · est 1995	£276.5k £235.1k–£318.0k	—	£276.5k	—	30y	82	74y
MERLIN HOUSE LIMITED→ SC216220 · est 2001	£40.5k £34.4k–£46.6k	—	£40.5k	—	25y	83	64y
ARDCRAIG DEVELOPMENTS LIMITED→ SC177712 · est 1997	£8.2k £7.0k–£9.5k	—	£8.2k	—	28y	82	78y
STIRLING DEVELOPMENTS LIMITED→ SC200452 · est 1999	—	—	—	7	26y	87	61y
BPR PROPERTIES LIMITED→ SC295430 · est 2006	—	—	—	0	20y	83	65y
KKR LIMITED→ SC059312 · est 1976	—	—	—	400	50y	83	89y
ALBION INVESTMENTS LIMITED→ SC182475 · est 1998	—	—	—	200	28y	82	69y
CALORIDE LIMITED→ SC392459 · est 2011	—	—	—	—	15y	82	63y

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

🔒Tailored diligence questions

7 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

Incorporated1999-03-01

Jurisdictionscotland

Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

45 Burnbank Meadows

Kinross

Perth & Kinross

KY13 8GE

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-02-10

Last: 2026-01-27

Officers (1 active · 4 resigned)

DUNLOP, Robert Ian Sutherland→

director · ~59y · appointed 1999-03-01

View their other companies + combined net worth →

Active

DUNLOP, Alasdair James Sutherland→

secretary · appointed 1999-03-01 · resigned 2009-10-01

Resigned

OSWALDS OF EDINBURGH LIMITED→

corporate-nominee-secretary · appointed 1999-03-01 · resigned 1999-03-01

Resigned

DUNLOP, Alasdair James Sutherland→

director · ~56y · appointed 2006-03-31 · resigned 2009-10-08

Resigned

DUNLOP, Alasdair James Sutherland→

director · ~56y · appointed 1999-03-01 · resigned 2003-08-08

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:19 of 19 shown

		Type	Properties
outstanding	Paragon Paragon Bank PLC	A registered charge	1 property	08/01/2022	—
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	12/04/2007	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	19/02/2007	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	13/02/2007	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	02/02/2007	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	02/02/2007	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	02/02/2007	14/09/2021
satisfied	Mortgage Trust Mortgage Trust Limited	Standard security	1 property	03/11/2005	14/09/2021
satisfied	Mortgage Trust Mortgage Trust Limited	Standard security	1 property	22/09/2005	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	18/11/2004	14/09/2021
satisfied	Mortgage Trust Mortgage Trust Limited	Standard security	1 property	01/10/2004	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	17/06/2004	14/09/2021
satisfied	Mortgage Trust Mortgage Trust Limited	Standard security	1 property	15/06/2004	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	23/03/2004	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	05/01/2004	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Standard security	1 property	04/12/2003	14/09/2021
satisfied	Paragon Paragon Mortgages Limited	Floating charge	1 property	24/11/2003	14/09/2021
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	21/09/2000	16/12/2003
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Standard security	1 property	21/09/2000	14/09/2021

Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (100 total)

confirmation-statement-with-no-updates

confirmation-statement · CS01

2026-01-27

accounts-with-accounts-type-total-exemption-full

accounts · AA

2025-12-31

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-04-07

accounts-with-accounts-type-total-exemption-full

accounts · AA

2024-12-27

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-04-12

accounts-with-accounts-type-total-exemption-full

accounts · AA

2023-12-30

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-04-17

accounts-with-accounts-type-total-exemption-full

accounts · AA

2022-11-21

confirmation-statement-with-no-updates

confirmation-statement · CS01

2022-04-29

mortgage-create-with-deed-with-charge-number-charge-creation-date

mortgage · MR01

2022-01-10

accounts-with-accounts-type-total-exemption-full

accounts · AA

2021-12-10

mortgage-satisfy-charge-full

mortgage · MR04

2021-09-14

mortgage-satisfy-charge-full

mortgage · MR04

2021-09-14

mortgage-satisfy-charge-full

mortgage · MR04

2021-09-14

mortgage-satisfy-charge-full

mortgage · MR04

2021-09-14