MGS LOGISTICS LIMITED

🌳Matureactive
SC232791 · ltd · incorporated 2002-06-14
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
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Sept 2024
Net worth
£248.4k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Freight transport by road
Sector: Transportation & storage
Investor take
Pursue
Active trading company with a 79-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 75/100. Strong seller-intent signal (63/100, director aged 79). 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 (65/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 23.4y

30/100
under pressure

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

  • · Oldest live charge is 23.4 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: medium (77/100)

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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
8 officers (4 active, 8 linked, 4 with DOB)
80
Ownership & PSC
3 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
79 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 £248,431
Net assets shrinking
Down £252,506 YoY
Cash draining
Cash down 99% YoY
Cash YoY
-99%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£797
↓ 99% YoY
Net Worth
£248k
↓ 50% YoY
Current Assets
£868k
↓ 11% YoY
Current Liabilities
—
£0£194k£388k£582k£776k£970kSept 2023Sept 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-09-302023-09-30
Total assets£651.4k£842.1k
Current assets£867.9k£969.8k
Cash£797£64.4k
Debtors£862.1k£900.3k
Net assets£248.4k£500.9k

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
0
filings
Last 180 days
1
filing
  • • 1 address
Counts from Companies House filing history.
Corporate timeline (31 events)Click to expand
  1. 2025-10-29
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  2. 2025-05-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-03-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-10-04
    📄
    capital-name-of-class-of-shares
    capital · SH08
  5. 2023-09-26
    📄
    resolution
    resolution · RESOLUTIONS
  6. 2023-06-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2022-07-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-07-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2020-10-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2019-06-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2018-12-19
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  12. 2018-10-01
    ➕
    BARNES, Matthew John appointed
    director
  13. 2018-05-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2017-06-28
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  15. 2017-06-28
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  16. 2017-06-28
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  17. 2017-04-25
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  18. 2012-05-24
    ➕
    SPENCE, Mark Graham appointed
    secretary
  19. 2012-05-24
    ➖
    SPENCE, Helen resigned
    secretary
  20. 2010-10-29
    🔒
    Charge registered #3
    Lender: Rbs Invoice Finance Limited
  21. 2005-04-05
    ➖
    SPENCE, Helen resigned
    director
  22. 2002-12-06
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  23. 2002-06-14
    🏢
    Company incorporated
    As MGS LOGISTICS LIMITED
  24. 2002-06-14
    ➕
    SPENCE, Douglas appointed
    director
  25. 2002-06-14
    ➕
    SPENCE, Mark Graham appointed
    director
  26. 2002-06-14
    ➕
    SPENCE, Helen appointed
    secretary
  27. 2002-06-14
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  28. 2002-06-14
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary
  29. 2002-06-14
    ➕
    SPENCE, Helen appointed
    director
  30. 2002-06-14
    ➕
    JORDANS (SCOTLAND) LIMITED appointed
    corporate-nominee-director
  31. 2002-06-14
    ➖
    JORDANS (SCOTLAND) LIMITED resigned
    corporate-nominee-director

Owner dependency

83/100
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
  • +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 79 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

90/100
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 79 years old. Natural succession window is now.
  • 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

3 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mrs Helen Spence
Individual · British · DOB 02/1947 · age 79
25–50%
—25-50% shares06/04/2016
Mr Douglas Spence
Individual · British · DOB 02/1948 · age 78
25–50%
—25-50% shares06/04/2016
Mr Mark Graham Spence
Individual · British · DOB 01/1967 · age 59
——sig. influencesignificant influence06/04/2016

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

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
Incorporated2002-06-14
Jurisdictionscotland
Primary SIC49410 — Freight transport by road

Registered office

Roadside Croft Findon
Portlethen
Aberdeen
AB12 4SA
Scotland

Filing status

Accounts
Next due: 2026-06-30
Last made up to: 2024-09-30
Confirmation statement
Next due: 2026-06-28
Last: 2025-06-14

Officers (4 active · 4 resigned)

SPENCE, Mark Graham→
secretary · appointed 2012-05-24
View their other companies + combined net worth →
Active
BARNES, Matthew John→
director · ~56y · appointed 2018-10-01
View their other companies + combined net worth →
Active
SPENCE, Douglas→
director · ~79y · appointed 2002-06-14
View their other companies + combined net worth →
Active
SPENCE, Mark Graham→
director · ~59y · appointed 2002-06-14
View their other companies + combined net worth →
Active
SPENCE, Helen→
secretary · appointed 2002-06-14 · resigned 2012-05-24
Resigned
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 2002-06-14 · resigned 2002-06-14
Resigned
SPENCE, Helen→
director · ~79y · appointed 2002-06-14 · resigned 2005-04-05
Resigned
JORDANS (SCOTLAND) LIMITED→
corporate-nominee-director · appointed 2002-06-14 · resigned 2002-06-14
Resigned

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

Mortgages & charges

2
Total charges
2
Outstanding
2
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
NatWest Group
Rbs Invoice Finance Limited
Floating charge1 property29/10/2010—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property06/12/2002—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (79 total)

change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-10-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-29
confirmation-statement-with-updates
confirmation-statement · CS01
2024-08-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-03-08
capital-name-of-class-of-shares
capital · SH08
2023-10-04
resolution
resolution · RESOLUTIONS
2023-09-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-08-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-06-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-07-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-06-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-10-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-06-15