R S HENDERSON LIMITED

🌳Matureactive
SC228534 · ltd · incorporated 2002-02-26
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 23.1y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to May 2025
Net worth
£2.93M
book net assets
Opportunity
77/100
Strong
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What this business does
Primary activity: SIC 46719
Sector: Wholesale & retail
ALSO REGISTERED FOR
  • 49410Freight transport by road
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 77/100 (strong), bankability 65/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (63/100).

🏦

Refinance opportunity

5 live charges · 2 lenders · oldest 23.1y

70/100
ready

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

  • · Oldest live charge is 23.1 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 15/100 — clean.

Data confidence

Overall: medium (79/100)

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
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
4 officers (3 active, 4 linked, 2 with DOB)
80
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
74 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
60
Some acquirability indicators.
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 £2,934,594

Key financials

2 years extracted from filed iXBRL accounts
Cash
£187k
Net Worth
£2.9m
↑ 1.8% YoY
Current Assets
£1.8m
↓ 21% YoY
Current Liabilities
—
£0£587k£1.2m£1.8m£2.3m£2.9mMay 2024May 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-05-312024-05-31
Total assets£4.69M£4.71M
Current assets£1.83M£2.32M
Cash£186.9k—
Debtors£1.58M£2.24M
Net assets£2.93M£2.88M

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

🔒Filing-note intelligence

1 signal 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
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (30 events)Click to expand
  1. 2026-02-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-02-14
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  3. 2024-11-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2024-11-12
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  5. 2024-11-12
    🔓
    Charge satisfied #1
  6. 2024-02-07
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2023-05-11
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  8. 2023-05-09
    🔒
    Charge registered #5
    Lender: Bank of Scotland PLC
  9. 2023-02-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-10-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-02-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2020-01-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2019-08-08
    📄
    resolution
    resolution · RESOLUTIONS
  14. 2019-08-02
    📄
    capital-variation-of-rights-attached-to-shares
    capital · SH10
  15. 2019-08-02
    📄
    capital-name-of-class-of-shares
    capital · SH08
  16. 2019-08-02
    📄
    capital-alter-shares-subdivision
    capital · SH02
  17. 2019-05-13
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  18. 2019-05-13
    📄
    change-person-director-company-with-change-date
    officers · CH01
  19. 2019-05-13
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  20. 2019-03-10
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  21. 2017-10-23
    🔒
    Charge registered #4
    Lender: Bank of Scotland PLC
  22. 2014-12-19
    🔒
    Charge registered #3
    Lender: Bank of Scotland PLC
  23. 2014-08-15
    🔒
    Charge registered #2
    Lender: Bank of Scotland PLC
  24. 2007-11-08
    ➕
    HENDERSON, Trevor Magnus appointed
    director
  25. 2003-04-02
    🔒
    Charge registered #1
    Lender: Clydesdale Bank Public Limited Company
  26. 2002-02-26
    🏢
    Company incorporated
    As R S HENDERSON LIMITED
  27. 2002-02-26
    ➕
    HENDERSON, Trevor Magnus appointed
    secretary
  28. 2002-02-26
    ➕
    HENDERSON, Steven David appointed
    director
  29. 2002-02-26
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  30. 2002-02-26
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary

Owner dependency

91/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder name in company name: Company name contains director surname "HENDERSON" — strong identity link between founder and business.
  • +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

66/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 24 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
Trevor Magnus Henderson
Individual · British · DOB 05/1970 · age 56
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
1 historic (ceased) PSC
  • Mr Steven David Hendersonceased 01/03/2019· 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 →

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JAMIESON AND SMITH (SHETLAND WOOL BROKERS) LIMITED→
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————74y7862y
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——£1.58M—77y7863y
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————1y7659y
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——£402.2k—16y7549y
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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
Incorporated2002-02-26
Jurisdictionscotland
Primary SIC46719 — SIC 46719

Registered office

Cullivoe Industrial Estate
Cullivoe
Yell
Shetland
ZE2 9DD
United Kingdom

Filing status

Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2027-03-12
Last: 2026-02-26

Officers (3 active · 1 resigned)

HENDERSON, Trevor Magnus→
secretary · appointed 2002-02-26
View their other companies + combined net worth →
Active
HENDERSON, Steven David→
director · ~52y · appointed 2002-02-26
View their other companies + combined net worth →
Active
HENDERSON, Trevor Magnus→
director · ~56y · appointed 2007-11-08
View their other companies + combined net worth →
Active
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 2002-02-26 · resigned 2002-02-26
Resigned

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

Mortgages & charges

5
Total charges
4
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge1 property09/05/2023—
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge1 property23/10/2017—
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge1 property19/12/2014—
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge—15/08/2014—
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Floating charge1 property02/04/200312/11/2024
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (74 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-06
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-02-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-28
mortgage-satisfy-charge-full
mortgage · MR04
2024-11-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-07
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-05-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-02-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-10-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-02-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-02-04