UNITED BAKERIES LIMITED
💤Zombieactive
SC212595 · ltd · incorporated 2000-11-06
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 steady · high confidence
Thesis has shifted recently — watch for confirmation.
- · Lifecycle stage: mature → zombie
- · Investment thesis: well_run_hard_buy → zombie_hold
- · Deal-killer verdict: clean → workable
- · Hygiene score: 90 → 85
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
- · Lifecycle stage drifting downward
- · Currently "zombie"
What changed my view
Last 30 days
Picture worsened over the last 30 days — 3 negative signals vs 1 positive.
- ↓Lifecycle stage: mature → zombie
- ·Investment thesis: well_run_hard_buy → zombie_hold
- ↑Deal-killer verdict: clean → workable
- ↓Hygiene score: 90 → 85
- ↓Refinance opportunity: too_messy → under_pressure
Last 90 days
Picture worsened over the last 90 days — 3 negative signals vs 1 positive.
- ↓Lifecycle stage: mature → zombie
- ·Investment thesis: well_run_hard_buy → zombie_hold
- ↑Deal-killer verdict: clean → workable
- ↓Hygiene score: 90 → 85
- ↓Refinance opportunity: too_messy → under_pressure
Last 180 days
No snapshot from 180 days ago — start tracking from today.
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: Manufacture of bread; manufacture of fresh pastry goods and cakes
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with strong profile and bankable structure.
Opportunity 73/100 (strong), bankability 77/100. High owner-dependency — earn-out structure likely required for clean transition. 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 (58/100).
🏦
Refinance opportunity
6 live charges · 5 lenders · oldest 25.1y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 25.1 years old — likely at or near maturity.
- · 5 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (59/100)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
No iXBRL financials extracted
0
Lenders & charges
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
23 officers (2 active, 23 linked, 19 with DOB)
87
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
6 connected companies via shared directors
63
Filing history
143 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
2
filings
- • 2 officers
Last 180 days
2
filings
- • 2 officers
Counts from Companies House filing history.
Corporate timeline (76 events)Click to expand
- 2026-06-18📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-06-02➖WRENCH, Simon Edward resigneddirector
- 2026-05-18📄change-corporate-secretary-company-with-change-dateofficers · CH04
- 2025-09-05📄accounts-with-accounts-type-dormantaccounts · AA
- 2025-01-08📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-01-01➕HANN, Stephen Paul Charles appointeddirector
- 2024-10-07📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-10-07📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-10-01➖SMART, Adam David resigneddirector
- 2024-10-01➕WRENCH, Simon Edward appointeddirector
- 2024-09-19📄accounts-with-accounts-type-dormantaccounts · AA
- 2024-02-08📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-01-31➖SHIELS, Gary resigneddirector
- 2023-10-16📄accounts-with-accounts-type-dormantaccounts · AA
- 2023-04-14📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-04-13📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-04-11➕SMART, Adam David appointeddirector
- 2023-04-06➖QUINN, Peter resigneddirector
- 2022-12-14📄appoint-person-director-company-with-name-dateofficers · AP01
- 2022-12-14📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-12-05➕SHIELS, Gary appointeddirector
- 2022-12-05➖STEEL, Irene Agnes resigneddirector
- 2022-10-31📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-10-04📄accounts-with-accounts-type-dormantaccounts · AA
- 2021-09-10📄termination-director-company-with-name-termination-dateofficers · TM01
- 2021-09-10📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-08-31➖BRUCE-GARDYNE, Lucinda Emma Kate resigneddirector
- 2021-08-31➕STEEL, Irene Agnes appointeddirector
- 2020-12-31📄accounts-with-accounts-type-dormantaccounts · AA
- 2020-03-06📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2020-01-01➖BRADLEY, Jeremy Peter resigneddirector
- 2020-01-01➕QUINN, Peter appointeddirector
- 2019-03-29🔓Charge satisfied #5
- 2019-03-29🔓Charge satisfied #4
- 2019-03-20🔓Charge satisfied #3
- 2019-03-20🔓Charge satisfied #2
- 2017-02-23➕BRUCE-GARDYNE, Lucinda Emma Kate appointeddirector
- 2017-02-23➖CUSCHIERI, Roz resigneddirector
- 2016-10-01➕BRADLEY, Jeremy Peter appointeddirector
- 2016-07-27➖MORSE, Stella Helen resigneddirector
- 2016-04-18🔓Charge satisfied #6
- 2013-02-27➕ADDLESHAW GODDARD (SCOTLAND) SECRETARIAL LIMITED appointedcorporate-secretary
- 2013-02-27➖CITY GROUP PLC resignedcorporate-secretary
- 2013-02-27➖BOYD, Stephen Alexander resigneddirector
- 2013-02-27➕CUSCHIERI, Roz appointeddirector
- 2013-02-27➖DUFFY, John Gerald resigneddirector
- 2013-02-27➕MORSE, Stella Helen appointeddirector
- 2013-02-27🔒Charge registered #6Lender: Finsbury Food Group PLC
- 2013-02-27🔒Charge registered #5Lender: Hsbc Bank PLC
- 2010-04-01➖MORGAN, Lisa Margaret Wendy resigneddirector
Showing most recent 50 of 76 events
Owner dependency
75/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Sole director: Only one active director — all governance concentrated on one person.
Succession & seller-readiness
45/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Unite Bakeries (Holdings) Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Unite Bakeries (Holdings) Limited
Corporate parent · holds 75-100% shares
⬇
UNITED BAKERIES LIMITED
This company · SC212595
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 |
|---|---|---|---|---|
Unite Bakeries (Holdings) Limited Corporate entity | 75–100% | 75–100% | 75-100% shares · 75-100% voting | 30/06/2016 |
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 · Food & drink · EH postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| BRODIE MELROSE DRYSDALE & CO. LIMITED→ SC201590 · est 1999 | £1.45M £1.07M–£1.84M | £8.61M | — | 3300 | 26y | 84 | 63y |
| HAMLYNS OF SCOTLAND LIMITED→ SC176949 · est 1997 | £99.9k £73.6k–£126.2k | £27.47M | — | 5400 | 29y | 86 | 80y |
| SALTIRE PATISSERIE LTD.→ SC295828 · est 2006 | — | — | — | 15 | 20y | 83 | 63y |
| THE PREMIUM BAKERY LIMITED→ SC316253 · est 2007 | — | — | £384.2k | — | 19y | 83 | 69y |
| CAWOODS (FISHCURERS) LIMITED→ SC034153 · est 1959 | — | — | £2.71M | — | 67y | 82 | 60y |
| S LUCA OF MUSSELBURGH LIMITED→ SC296882 · est 2006 | — | — | £1.65M | — | 20y | 82 | 69y |
| YESTER FARM DAIRIES LIMITED→ SC396162 · est 2011 | — | — | — | 1700 | 15y | 82 | 73y |
| ARTISAN ROAST LIMITED→ SC327756 · est 2007 | — | — | — | 3600 | 18y | 81 | 62y |
| GRAMPIAN OAT PRODUCTS LIMITED→ SC176950 · est 1997 | — | — | — | 0 | 29y | 81 | 80y |
| MOROCCO GOLD LIMITED→ SC370625 · est 2009 | — | — | £249.9k | — | 16y | 81 | 72y |
| TRAQUAIR HOUSE BREWERY LIMITED→ SC172147 · est 1997 | — | — | — | 300 | 29y | 81 | 62y |
| ACTIPH WATER LIMITED→ SC505074 · est 2015 | — | — | £547.8k | — | 11y | 80 | 77y |
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
Incorporated2000-11-06
Jurisdictionscotland
Primary SIC10710 — Manufacture of bread; manufacture of fresh pastry goods and cakes
Registered office
43 Inchmuir Road
Whitehill Industrial Estate
Bathgate
EH48 2EP
Scotland
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-11-20
Last: 2025-11-06
Officers (2 active · 21 resigned)
ADDLESHAW GODDARD (SCOTLAND) SECRETARIAL LIMITED→
Activecorporate-secretary · appointed 2013-02-27
View their other companies + combined net worth →
HANN, Stephen Paul Charles→
Activedirector · ~45y · appointed 2025-01-01
View their other companies + combined net worth →
KELLY, John→
Resignedsecretary · appointed 2001-04-02 · resigned 2005-11-18
CITY GROUP PLC→
Resignedcorporate-secretary · appointed 2005-11-20 · resigned 2013-02-27
D.W. COMPANY SERVICES LIMITED→
Resignedcorporate-nominee-secretary · appointed 2000-11-06 · resigned 2001-04-02
BOYD, Stephen Alexander→
Resigneddirector · ~64y · appointed 2010-01-10 · resigned 2013-02-27
BRADLEY, Jeremy Peter→
Resigneddirector · ~65y · appointed 2016-10-01 · resigned 2020-01-01
BROOKS, David Gary→
Resigneddirector · ~59y · appointed 2005-11-18 · resigned 2008-09-29
BRUCE-GARDYNE, Lucinda Emma Kate→
Resigneddirector · ~55y · appointed 2017-02-23 · resigned 2021-08-31
CRAWFORD, Douglas James→
Resigneddirector · ~61y · appointed 2000-11-06 · resigned 2001-04-02
CUNNINGHAM, Archibald Macdonald→
Resigneddirector · ~73y · appointed 2001-04-27 · resigned 2005-11-18
CUSCHIERI, Roz→
Resigneddirector · ~59y · appointed 2013-02-27 · resigned 2017-02-23
DUFFY, John Gerald→
Resigneddirector · ~61y · appointed 2009-10-19 · resigned 2013-02-27
LOMER, John Antony→
Resigneddirector · ~68y · appointed 2005-11-18 · resigned 2006-09-30
MORGAN, Lisa Margaret Wendy→
Resigneddirector · ~55y · appointed 2006-10-01 · resigned 2010-04-01
MORSE, Stella Helen→
Resigneddirector · ~59y · appointed 2013-02-27 · resigned 2016-07-27
ORR, David Slater→
Resigneddirector · ~75y · appointed 2001-04-02 · resigned 2005-11-18
POLSON, Michael Buchanan→
Resigneddirector · ~62y · appointed 2000-11-06 · resigned 2001-04-02
QUINN, Peter→
Resigneddirector · ~61y · appointed 2020-01-01 · resigned 2023-04-06
SHIELS, Gary→
Resigneddirector · ~58y · appointed 2022-12-05 · resigned 2024-01-31
Click a director name to see their full track record across all companies.
Mortgages & charges
6
Total charges
0
Outstanding
0
Active lenders
Status:Lender:6 of 6 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Finsbury Food Group Finsbury Food Group PLC | Floating charge | 1 property | 27/02/2013 | 18/04/2016 | |
| satisfied | HSBC Hsbc Bank PLC | Floating charge | 1 property | 27/02/2013 | 29/03/2019 | |
| satisfied | HSBC Hsbc Bank PLC | Floating charge | 1 property | 18/11/2005 | 29/03/2019 | |
| satisfied | HSBC Hsbc Equipment Finance (UK) Limited | Floating charge | 1 property | 18/11/2005 | 20/03/2019 | |
| satisfied | HSBC Hsbc Asset Finance (UK) Limited | Floating charge | 1 property | 18/11/2005 | 20/03/2019 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 21/06/2001 | 22/12/2005 |
Recent filings (143 total)
termination-director-company-with-name-termination-date
officers · TM01
2026-06-18
change-corporate-secretary-company-with-change-date
officers · CH04
2026-05-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-06
accounts-with-accounts-type-dormant
accounts · AA
2025-09-05
appoint-person-director-company-with-name-date
officers · AP01
2025-01-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-11-06
termination-director-company-with-name-termination-date
officers · TM01
2024-10-07
appoint-person-director-company-with-name-date
officers · AP01
2024-10-07
accounts-with-accounts-type-dormant
accounts · AA
2024-09-19
termination-director-company-with-name-termination-date
officers · TM01
2024-02-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-07
accounts-with-accounts-type-dormant
accounts · AA
2023-10-16
appoint-person-director-company-with-name-date
officers · AP01
2023-04-14
termination-director-company-with-name-termination-date
officers · TM01
2023-04-13
appoint-person-director-company-with-name-date
officers · AP01
2022-12-14