ICA PROPERTIES LTD.

💤Zombieactive

SC198984 · ltd · incorporated 1999-08-17

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.

Why now

Window closing · high confidence

Getting harder to buy cheaply — 3 signals strengthening over the last 30 days.

· Hygiene score: 65 → 85
· Opportunity score: 72 → 80
· Bankability: 65 → 75
· Distress / opportunity: attractive → avoid

Opportunity decay

hardening · 6-months

Hardening — profile is tightening. If you want to act, do it before the window closes further.

· 3 recent signals strengthening vs 0 weakening

What changed my view

Last 30 days

Picture improved over the last 30 days — 3 positive signals vs 0 negative.

↑Opportunity score: 72 → 80
↑Hygiene score: 65 → 85
↑Bankability: 65 → 75
·Distress / opportunity: attractive → avoid

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 2024

Net worth

£23.8k

book net assets

Opportunity

80/100

Exceptional

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

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

Sector: Real estate

ALSO REGISTERED FOR

81100SIC 81100

Investor take

Pursue

Asset-holding vehicle with a 71-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (83/100, director aged 71). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (73/100).

Data confidence

Overall: medium (70/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile

address, 2 SIC codes, incorporation date

100

Financials

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

Lenders & charges

Confirmed no charges registered

Directors & officers

9 officers (2 active, 9 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

81 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

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £23,836

Key financials

1 year extracted from filed iXBRL accounts

Cash

—

Net Worth

£24k

Current Assets

£21k

Current Liabilities

—

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-04-30
Total assets	£23.8k
Current assets	£20.9k
Net assets	£23.8k

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

Recent activity

Last 30 days

filing

• 1 confirmation-statement

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (33 events)Click to expand

2026-01-31
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2025-10-08
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-10-07
➖
WARNOCK, Ruth Rosalind resigned
director
2025-01-31
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-01-31
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-01-26
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2022-04-13
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2021-05-11
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-03-12
📄
appoint-person-director-company-with-name-date
officers · AP01
2021-03-05
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-01-31
➖
WARNOCK, Ruth Rosalind resigned
director
2020-12-31
➕
WARNOCK, Ruth Rosalind appointed
director
2020-12-01
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2020-01-30
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2019-08-19
📄
change-person-secretary-company-with-change-date
officers · CH03
2019-08-19
📄
change-person-director-company-with-change-date
officers · CH01
2019-08-19
📄
change-person-director-company-with-change-date
officers · CH01
2019-08-19
📄
change-person-director-company-with-change-date
officers · CH01
2019-01-31
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2006-02-27
➕
WARNOCK, Ian Graham appointed
secretary
2006-02-27
➖
HOOD, Simon Leonard resigned
secretary
2002-03-01
➕
HOOD, Simon Leonard appointed
secretary
2002-03-01
➖
WARNOCK, Jessie Wright Thompson resigned
secretary
2002-02-28
➕
WARNOCK, Ian Graham appointed
director
1999-09-20
➕
WARNOCK, Jessie Wright Thompson appointed
secretary
1999-09-20
➖
WARNOCK, Ruth Rosalind resigned
secretary
1999-08-17
🏢
Company incorporated
As ICA PROPERTIES LTD.
1999-08-17
➕
WARNOCK, Ruth Rosalind appointed
secretary
1999-08-17
➕
BRIAN REID LTD. appointed
corporate-nominee-secretary
1999-08-17
➖
BRIAN REID LTD. resigned
corporate-nominee-secretary
1999-08-17
➕
WARNOCK, Ruth Rosalind appointed
director
1999-08-17
➕
STEPHEN MABBOTT LTD. appointed
corporate-nominee-director
1999-08-17
➖
STEPHEN MABBOTT LTD. resigned
corporate-nominee-director

Owner dependency

100/100

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 24 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 71 — succession pressure is live.

Succession & seller-readiness

100/100

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 71 years old. Natural succession window is now.
primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
primary20+ year tenure: Director in role 24 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

clean

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

Shareholders & ownership

1 active beneficial owner

Name	Shares	Voting rights	Nature of control	Notified
Mr Ian Graham Warnock Individual · British · DOB 05/1955 · age 71	—	—	sig. influencesignificant influence	10/04/2016

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 · G postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
GANDER EQUITIES LIMITED→ SC038884 · est 1963	£5.39M £4.58M–£6.20M	—	£5.39M	—	63y	83	87y
NEWTON PROPERTY MANAGEMENT LTD.→ SC224378 · est 2001	£1.45M £1.23M–£1.66M	—	£1.45M	—	24y	83	70y
MILBEAR HOLDINGS (GLASGOW) LIMITED→ SC046691 · est 1969	£974.3k £828.2k–£1.12M	—	£974.3k	—	57y	83	101y
CITYPROP INVESTMENTS LTD.→ SC157489 · est 1995	£927.3k £788.2k–£1.07M	—	£927.3k	—	31y	83	87y
DOMINPLAN PROPERTY CO. LIMITED→ SC039504 · est 1963	£672.2k £571.4k–£773.1k	—	£672.2k	—	62y	83	89y
CALEDONIA WATERFRONT (HARBOUR ROAD) LIMITED→ SC345086 · est 2008	£623.3k £529.8k–£716.8k	—	£623.3k	—	17y	83	70y
INNOVATION PROPERTIES LIMITED→ SC312436 · est 2006	£444.7k £378.0k–£511.4k	—	£444.7k	—	19y	83	86y
OREBLOCK LIMITED→ SC161313 · est 1995	£146.5k £124.6k–£168.5k	—	£146.5k	—	30y	83	69y
HORSESHOE DEVELOPMENTS (PORT GLASGOW) LIMITED→ SC315228 · est 2007	£132.9k £113.0k–£152.9k	—	£132.9k	—	19y	83	68y
BARRWOOD DEVELOPMENTS LIMITED→ SC055126 · est 1974	£117.8k £100.1k–£135.5k	—	£117.8k	—	52y	83	59y
GALEN PROPERTIES LTD→ SC283636 · est 2005	£64.1k £54.5k–£73.7k	—	£64.1k	—	21y	83	62y
LEMAY INVESTMENTS LIMITED→ SC253839 · est 2003	£53.3k £45.3k–£61.3k	—	£53.3k	—	22y	83	70y

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

🔒Tailored diligence questions

8 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

Incorporated1999-08-17

Jurisdictionscotland

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

Registered office

Upper Flat 112 Hamilton Avenue

Glasgow

G41 4EX

Scotland

Filing status

Accounts

Next due: 2027-01-31

Last made up to: 2025-04-30

Confirmation statement

Next due: 2026-12-23

Last: 2025-12-09

Officers (2 active · 7 resigned)

WARNOCK, Ian Graham→

secretary · appointed 2006-02-27

View their other companies + combined net worth →

Active

WARNOCK, Ian Graham→

director · ~71y · appointed 2002-02-28

View their other companies + combined net worth →

Active

HOOD, Simon Leonard→

secretary · appointed 2002-03-01 · resigned 2006-02-27

Resigned

WARNOCK, Jessie Wright Thompson→

secretary · appointed 1999-09-20 · resigned 2002-03-01

Resigned

WARNOCK, Ruth Rosalind→

secretary · appointed 1999-08-17 · resigned 1999-09-20

Resigned

BRIAN REID LTD.→

corporate-nominee-secretary · appointed 1999-08-17 · resigned 1999-08-17

Resigned

WARNOCK, Ruth Rosalind→

director · ~63y · appointed 2020-12-31 · resigned 2025-10-07

Resigned

WARNOCK, Ruth Rosalind→

director · ~69y · appointed 1999-08-17 · resigned 2021-01-31

Resigned

STEPHEN MABBOTT LTD.→

corporate-nominee-director · appointed 1999-08-17 · resigned 1999-08-17

Resigned

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