HALSPAN LIMITED

🌳Matureactive
SC194458 · ltd · incorporated 1999-03-19
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.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 27.0y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jan 2025
Net worth
—
book net assets
Opportunity
83/100
Exceptional
🔔
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What this business does
Primary activity: Manufacture of other builders' carpentry and joinery
Sector: Manufacturing
Investor take
Pursue
Active trading company with a 77-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 85/100. Strong seller-intent signal (73/100, director aged 77). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 27.0y

70/100
ready

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

  • · Oldest live charge is 27.0 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 15/100 — clean.

Data confidence

Overall: high (82/100)

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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
10 officers (5 active, 10 linked, 8 with DOB)
86
Ownership & PSC
3 active PSC(s) of 4 total, 4 with control declared
90
Director network
8 connected companies via shared directors
69
Filing history
103 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒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
83/100Exceptional
PassWatchWorth a lookStrongExceptional 

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
85
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£0Jan 2024Jan 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-01-312024-01-31

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 mortgage
Counts from Companies House filing history.
Corporate timeline (40 events)Click to expand
  1. 2026-02-06
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  2. 2026-02-06
    🔓
    Charge satisfied #1
  3. 2025-11-14
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  4. 2025-11-13
    ➖
    WILLIAMS, Rhodri Wiliam Meurig resigned
    director
  5. 2025-07-31
    📄
    accounts-with-accounts-type-group
    accounts · AA
  6. 2024-11-25
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  7. 2024-11-05
    ➖
    WALLACE, Andrew William Mair resigned
    director
  8. 2024-07-12
    📄
    accounts-with-accounts-type-group
    accounts · AA
  9. 2024-07-05
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2024-07-02
    ➕
    EASTON, Ronald Story appointed
    director
  11. 2023-10-03
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  12. 2023-10-03
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  13. 2023-10-03
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  14. 2023-10-03
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  15. 2023-10-03
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  16. 2023-10-03
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  17. 2023-07-03
    📄
    accounts-with-accounts-type-group
    accounts · AA
  18. 2023-04-13
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  19. 2023-04-13
    🔓
    Charge satisfied #2
  20. 2022-10-28
    📄
    change-person-director-company-with-change-date
    officers · CH01
  21. 2022-09-16
    📄
    accounts-with-accounts-type-group
    accounts · AA
  22. 2022-02-07
    📄
    memorandum-articles
    incorporation · MA
  23. 2022-02-07
    📄
    resolution
    resolution · RESOLUTIONS
  24. 2022-02-02
    📄
    change-person-director-company-with-change-date
    officers · CH01
  25. 2022-02-02
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  26. 2021-06-01
    ➕
    RUNAGALL, Glen Robert appointed
    director
  27. 2020-10-31
    ➖
    MARTINDALE, Alistair David resigned
    director
  28. 2018-08-01
    ➕
    WALLACE, Andrew William Mair appointed
    director
  29. 2013-07-29
    ➕
    MARTINDALE, Alistair David appointed
    director
  30. 2013-07-23
    ➕
    ABAJIAN, Garabet Aram appointed
    director
  31. 2011-05-26
    ➖
    CARTER, Peter John resigned
    director
  32. 2009-11-06
    🔒
    Charge registered #2
    Lender: Lloyds Tsb Commercial Finance Limited
  33. 2005-07-01
    ➕
    CARTER, Peter John appointed
    director
  34. 2001-02-01
    ➕
    WILLIAMS, Rhodri Wiliam Meurig appointed
    director
  35. 1999-05-11
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  36. 1999-03-19
    🏢
    Company incorporated
    As HALSPAN LIMITED
  37. 1999-03-19
    ➕
    MARTIN, Ruth appointed
    secretary
  38. 1999-03-19
    ➕
    MARTIN, John Thomas Meldrum appointed
    director
  39. 1999-03-19
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  40. 1999-03-19
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary

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
  • -4 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

Muirhouses Capital Limited holds 25-50% — a significant corporate investor but not a controlling parent.

🏛️
Muirhouses Capital Limited
Corporate parent · holds 25-50% shares
significant stake
⬇
HALSPAN LIMITED
This company · SC194458

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

3 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Peter Graham Shand
Individual · British · DOB 08/1975 · age 51
25–50%
25–50%25-50% shares · 25-50% voting · trust interest28/09/2023
Muirhouses Capital Limited
Corporate entity
25–50%
—25-50% shares29/01/2019
Mr John Thomas Meldrum Martin
Individual · British · DOB 01/1949 · age 77
25–50%
25–50%25-50% shares · 25-50% voting · trust interest06/04/2016
1 historic (ceased) PSC
  • Mrs Ruth Martinceased 28/09/2023· 25-50% shares · 25-50% voting

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 · Manufacturing · EH postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
HAD-FAB LIMITED→
SC142257 · est 1993
£1.76M
£1.37M–£2.15M
——1440033y8560y
SPRING ENGINEERING SERVICES LIMITED→
SC220378 · est 2001
£1.49M
£1.16M–£1.83M
——380024y8774y
WINDOW SUPPLY COMPANY LTD→
SC615256 · est 2018
£699.9k
£544.4k–£855.4k
——1827y8472y
EUROSTAMPA UK LTD→
SC024552 · est 1946
£218.8k
£170.2k–£267.5k
——20079y8583y
ARRAYJET LIMITED→
SC209936 · est 2000 · no financials extracted
————25y8373y
BAWBAGS LIMITED→
SC321771 · est 2007
———619y8365y
CANMORE PIPE BAGS LIMITED→
SC362533 · est 2009
——£53.5k—16y8358y
CASTLE MASONRY PRODUCTS LIMITED→
SC225802 · est 2001
———180024y8362y
CIPHER SURGICAL LIMITED→
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———415y8384y
CLOCKHOUSE FURNITURE LIMITED→
SC281686 · est 2005
——£778.1k—21y8375y
HALSTON ENGINEERING LTD→
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———60047y8361y
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———40019y8374y
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
Incorporated1999-03-19
Jurisdictionscotland
Primary SIC16230 — Manufacture of other builders' carpentry and joinery

Registered office

Muirhouses
Bo'Ness
West Lothian
EH51 9SS
Scotland

Filing status

Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2027-04-02
Last: 2026-03-19

Officers (5 active · 5 resigned)

MARTIN, Ruth→
secretary · appointed 1999-03-19
View their other companies + combined net worth →
Active
ABAJIAN, Garabet Aram→
director · ~68y · appointed 2013-07-23
View their other companies + combined net worth →
Active
EASTON, Ronald Story→
director · ~66y · appointed 2024-07-02
View their other companies + combined net worth →
Active
MARTIN, John Thomas Meldrum→
director · ~77y · appointed 1999-03-19
View their other companies + combined net worth →
Active
RUNAGALL, Glen Robert→
director · ~60y · appointed 2021-06-01
View their other companies + combined net worth →
Active
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 1999-03-19 · resigned 1999-03-19
Resigned
CARTER, Peter John→
director · ~80y · appointed 2005-07-01 · resigned 2011-05-26
Resigned
MARTINDALE, Alistair David→
director · ~64y · appointed 2013-07-29 · resigned 2020-10-31
Resigned
WALLACE, Andrew William Mair→
director · ~56y · appointed 2018-08-01 · resigned 2024-11-05
Resigned
WILLIAMS, Rhodri Wiliam Meurig→
director · ~64y · appointed 2001-02-01 · resigned 2025-11-13
Resigned

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

Mortgages & charges

2
Total charges
0
Outstanding
0
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
satisfied
Lloyds Banking Group
Lloyds Tsb Commercial Finance Limited
Floating charge1 property06/11/200913/04/2023
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Floating charge1 property11/05/199906/02/2026

Recent filings (103 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-23
mortgage-satisfy-charge-full
mortgage · MR04
2026-02-06
termination-director-company-with-name-termination-date
officers · TM01
2025-11-14
accounts-with-accounts-type-group
accounts · AA
2025-07-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-02
termination-director-company-with-name-termination-date
officers · TM01
2024-11-25
accounts-with-accounts-type-group
accounts · AA
2024-07-12
appoint-person-director-company-with-name-date
officers · AP01
2024-07-05
confirmation-statement-with-updates
confirmation-statement · CS01
2024-03-19
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-03
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2023-10-03
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-03
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-03
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2023-10-03
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-10-03