PHOTONIC SOLUTIONS LIMITED

🌳Matureactive
SC194276 · ltd · incorporated 1999-03-11
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.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
What changed my view
Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Apr 2025
Net worth
—
book net assets
Opportunity
77/100
Strong
🔔
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What this business does
Primary activity: SIC 46520
Sector: Wholesale & retail
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 77/100 (strong), bankability 67/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

5 live charges · 5 lenders · oldest 26.6y

35/100
too messy

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

  • · Oldest live charge is 26.6 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 35/100 — workable, but lender will want more DD.

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
75
Lenders & charges
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
14 officers (4 active, 14 linked, 11 with DOB)
86
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
3 connected companies via shared directors
54
Filing history
120 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
77/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
77
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
—
£0£0£0£0£0£0Apr 2024Apr 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-04-302024-04-30
Average employees111100

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
0
filings
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (50 events)Click to expand
  1. 2026-01-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-11-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-11-12
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  4. 2024-06-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2024-01-30
    📄
    change-account-reference-date-company-previous-extended
    accounts · AA01
  6. 2023-01-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2022-07-25
    📄
    mortgage-alter-floating-charge-with-number
    mortgage · 466(Scot)
  8. 2022-07-20
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  9. 2022-07-18
    📄
    mortgage-alter-floating-charge-with-number
    mortgage · 466(Scot)
  10. 2022-07-18
    📄
    mortgage-alter-floating-charge-with-number
    mortgage · 466(Scot)
  11. 2022-07-08
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  12. 2022-07-08
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2022-07-08
    🔒
    Charge registered #5
    Lender: Alter Domus Trustees (UK) Limited (as Security Agent)
  14. 2022-07-08
    🔒
    Charge registered #4
    Lender: Alter Domus Trustees (UK) Limited
  15. 2022-07-08
    🔓
    Charge satisfied #2
  16. 2022-06-14
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  17. 2022-06-14
    🔓
    Charge satisfied #3
  18. 2022-03-15
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  19. 2022-03-15
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  20. 2021-06-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2021-01-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  22. 2020-01-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  23. 2019-06-20
    🔒
    Charge registered #3
    Lender: Rbs Invoice Finance LTD
  24. 2017-06-20
    ➕
    AGATE, Mear Benjamin appointed
    director
  25. 2017-06-20
    ➕
    BLAIN, Andrew Robert Joseph appointed
    director
  26. 2017-06-20
    ➕
    GARVIE, Craig Simon appointed
    director
  27. 2017-06-20
    ➕
    MARK, Elaine appointed
    director
  28. 2017-06-20
    ➖
    MACLEOD, Aileen resigned
    secretary
  29. 2017-06-20
    ➖
    ELLIS, David Mcdonald resigned
    director
  30. 2017-06-20
    ➖
    MACLEOD, John Stephen resigned
    director
  31. 2017-06-20
    ➖
    O'CONNOR, John Wallace resigned
    director
  32. 2017-06-20
    🔒
    Charge registered #2
    Lender: Panoramic Growth Equity (Gp 2) LLP (as Security Trustee)
  33. 2016-06-30
    ➖
    MCCOY, Darryl Raymond resigned
    director
  34. 2016-03-01
    ➕
    MCCOY, Darryl Raymond appointed
    director
  35. 2016-02-16
    ➕
    ELLIS, David Mcdonald appointed
    director
  36. 2013-01-21
    ➕
    MACLEOD, Aileen appointed
    secretary
  37. 2012-07-27
    ➖
    NEILSON, Douglas John resigned
    director
  38. 2012-07-27
    ➕
    O'CONNOR, John Wallace appointed
    director
  39. 2008-05-09
    ➖
    1924 NOMINEES LTD resigned
    corporate-secretary
  40. 2003-09-08
    ➕
    1924 NOMINEES LTD appointed
    corporate-secretary
  41. 2003-09-08
    ➖
    ARCHIBALD CAMPBELL & HARLEY resigned
    corporate-nominee-secretary
  42. 1999-11-11
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  43. 1999-03-16
    ➖
    BLACK, Douglas Maclean resigned
    nominee-director
  44. 1999-03-16
    ➕
    MACLEOD, John Stephen appointed
    director
  45. 1999-03-16
    ➖
    MOIR, Suzanne Dorothy resigned
    director
  46. 1999-03-16
    ➕
    NEILSON, Douglas John appointed
    director
  47. 1999-03-11
    🏢
    Company incorporated
    As PHOTONIC SOLUTIONS LIMITED
  48. 1999-03-11
    ➕
    ARCHIBALD CAMPBELL & HARLEY appointed
    corporate-nominee-secretary
  49. 1999-03-11
    ➕
    BLACK, Douglas Maclean appointed
    nominee-director
  50. 1999-03-11
    ➕
    MOIR, Suzanne Dorothy appointed
    director

Owner dependency

48/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS
  • -4 active directors: Broader management team in place — suggests transferable governance.
  • +Senior director age: Director aged approximately 58 — approaching natural succession window.

Succession & seller-readiness

50/100
Moderate signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 58. Early succession window.
  • secondaryStable-but-static management: Company is 27 years old and no new directors in the last 3 years — succession not yet being planned internally.

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

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

🏛️
Photonic Solutions Associates Ltd
Corporate parent · holds 75-100% shares
ultimate parent
⬇
PHOTONIC SOLUTIONS LIMITED
This company · SC194276

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%
NameSharesVoting rightsNature of controlNotified
Photonic Solutions Associates Ltd
Corporate entity
75–100%
—75-100% shares30/04/2021
3 historic (ceased) PSCs
  • Photonic Solutions (Holdings) Limitedceased 30/04/2021· 75-100% shares · 75-100% voting · board control
  • Mr John Stephen Macleodceased 20/06/2017· significant influence
  • Mrs Aileen Mary Macleodceased 20/06/2017· 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

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
Incorporated1999-03-11
Jurisdictionscotland
Primary SIC46520 — SIC 46520

Registered office

Unit 2.2 Quantum Court Research Park
Riccarton
Currie
Midlothian
EH14 4AP
Scotland

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2027-03-25
Last: 2026-03-11

Officers (4 active · 10 resigned)

AGATE, Mear Benjamin→
director · ~51y · appointed 2017-06-20
View their other companies + combined net worth →
Active
BLAIN, Andrew Robert Joseph→
director · ~41y · appointed 2017-06-20
View their other companies + combined net worth →
Active
GARVIE, Craig Simon→
director · ~46y · appointed 2017-06-20
View their other companies + combined net worth →
Active
MARK, Elaine→
director · ~58y · appointed 2017-06-20
View their other companies + combined net worth →
Active
MACLEOD, Aileen→
secretary · appointed 2013-01-21 · resigned 2017-06-20
Resigned
1924 NOMINEES LTD→
corporate-secretary · appointed 2003-09-08 · resigned 2008-05-09
Resigned
ARCHIBALD CAMPBELL & HARLEY→
corporate-nominee-secretary · appointed 1999-03-11 · resigned 2003-09-08
Resigned
BLACK, Douglas Maclean→
nominee-director · ~67y · appointed 1999-03-11 · resigned 1999-03-16
Resigned
ELLIS, David Mcdonald→
director · ~67y · appointed 2016-02-16 · resigned 2017-06-20
Resigned
MACLEOD, John Stephen→
director · ~64y · appointed 1999-03-16 · resigned 2017-06-20
Resigned
MCCOY, Darryl Raymond→
director · ~56y · appointed 2016-03-01 · resigned 2016-06-30
Resigned
MOIR, Suzanne Dorothy→
director · ~54y · appointed 1999-03-11 · resigned 1999-03-16
Resigned
NEILSON, Douglas John→
director · ~70y · appointed 1999-03-16 · resigned 2012-07-27
Resigned
O'CONNOR, John Wallace→
director · ~69y · appointed 2012-07-27 · resigned 2017-06-20
Resigned

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

Mortgages & charges

5
Total charges
3
Outstanding
3
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
outstanding
Alter Domus Trustees (UK) (as Security Agent)
Alter Domus Trustees (UK) Limited (as Security Agent)
A registered charge—08/07/2022—
outstanding
Alter Domus Trustees (UK)
Alter Domus Trustees (UK) Limited
A registered charge—08/07/2022—
satisfied
NatWest Group
Rbs Invoice Finance LTD
A registered charge—20/06/201914/06/2022
satisfied
Panoramic Growth Equity (Gp 2) (as Security Trustee)
Panoramic Growth Equity (Gp 2) LLP (as Security Trustee)
A registered charge—20/06/201708/07/2022
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property11/11/1999—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (120 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-01-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-13
change-account-reference-date-company-previous-shortened
accounts · AA01
2024-11-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-22
change-account-reference-date-company-previous-extended
accounts · AA01
2024-01-30
confirmation-statement-with-updates
confirmation-statement · CS01
2023-03-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-24
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2022-07-25
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-07-20
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2022-07-18
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2022-07-18
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-07-08