VTEC ENGINEERING LIMITED

💤Zombieactive
SC223457 · ltd · incorporated 2001-09-21
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
—
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Turnover
—
year to Dec 2024
Net worth
£65.1k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: SIC 45200
Sector: Wholesale & retail
Investor take
Pursue
Active trading company with a 64-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 65/100. Strong seller-intent signal (70/100, director aged 64). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -99% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 18.2y

30/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 18.2 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (76/100)

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
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
6 officers (2 active, 6 linked, 2 with DOB)
77
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
65 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
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
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £65,087
Net assets shrinking
Down £8,956 YoY
Cash draining
Cash down 99% YoY
Cash YoY
-99%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£250
↓ 99% YoY
Net Worth
£65k
↓ 12% YoY
Current Assets
£3k
↓ 87% YoY
Current Liabilities
—
£0£15k£30k£44k£59k£74kDec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-12-312023-12-31
Total assets£148.1k£101.3k
Current assets£2.8k£22.4k
Cash£250£19.3k
Net assets£65.1k£74.0k

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
0
filings
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (30 events)Click to expand
  1. 2025-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-09-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-09-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-12-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2021-11-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2020-09-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2019-09-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2018-09-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2017-08-07
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2016-12-16
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  11. 2016-12-14
    🔒
    Charge registered #4
    Lender: The Royal Bank of Scotland PLC
  12. 2016-09-15
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  13. 2015-09-30
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2015-09-28
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2015-01-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  16. 2015-01-27
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  17. 2014-09-30
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  18. 2008-06-10
    🔒
    Charge registered #2
    Lender: Royal Bank of Scotland PLC
  19. 2008-03-10
    🔒
    Charge registered #1
    Lender: Royal Bank of Scotland PLC
  20. 2007-12-19
    ➕
    AITKEN, Elaine appointed
    secretary
  21. 2007-12-19
    ➖
    BALLANTYNE REID & CO LTD resigned
    corporate-secretary
  22. 2007-07-11
    ➕
    AITKEN, Andrew appointed
    director
  23. 2007-07-11
    ➖
    BLACK, Mary resigned
    secretary
  24. 2007-07-11
    ➕
    BALLANTYNE REID & CO LTD appointed
    corporate-secretary
  25. 2007-07-11
    ➖
    BLACK, William Morton resigned
    director
  26. 2002-02-14
    ➕
    BLACK, Mary appointed
    secretary
  27. 2002-02-14
    ➖
    CROSSING REGISTRARS (SCOTLAND) LTD resigned
    corporate-secretary
  28. 2001-09-21
    🏢
    Company incorporated
    As VTEC ENGINEERING LIMITED
  29. 2001-09-21
    ➕
    CROSSING REGISTRARS (SCOTLAND) LTD appointed
    corporate-secretary
  30. 2001-09-21
    ➕
    BLACK, William Morton appointed
    director

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 19 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

88/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 19 years.
  • secondaryStable-but-static management: Company is 25 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
NameSharesVoting rightsNature of controlNotified
Mr Andrew Aitken
Individual · British · DOB 10/1962 · age 64
25–50%
—25-50% shares · firm interest18/09/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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
Incorporated2001-09-21
Jurisdictionscotland
Primary SIC45200 — SIC 45200

Registered office

Unit 4 Barrmill Road
Galston
Ayrshire
KA4 8HH

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2026-10-02
Last: 2025-09-18

Officers (2 active · 4 resigned)

AITKEN, Elaine→
secretary · appointed 2007-12-19
View their other companies + combined net worth →
Active
AITKEN, Andrew→
director · ~64y · appointed 2007-07-11
View their other companies + combined net worth →
Active
BLACK, Mary→
secretary · appointed 2002-02-14 · resigned 2007-07-11
Resigned
BALLANTYNE REID & CO LTD→
corporate-secretary · appointed 2007-07-11 · resigned 2007-12-19
Resigned
CROSSING REGISTRARS (SCOTLAND) LTD→
corporate-secretary · appointed 2001-09-21 · resigned 2002-02-14
Resigned
BLACK, William Morton→
director · ~95y · appointed 2001-09-21 · resigned 2007-07-11
Resigned

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

Mortgages & charges

4
Total charges
4
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property14/12/2016—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property27/01/2015—
outstanding
Lloyds Banking Group
Royal Bank of Scotland PLC
Standard security1 property10/06/2008—
outstanding
Lloyds Banking Group
Royal Bank of Scotland PLC
Bond & floating charge1 property10/03/2008—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (65 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-09-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-09-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-11-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-09-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-09-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-10-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-09-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2018-09-30