NORCO GROUP LIMITED

🌳Matureactive

SC235198 · ltd · incorporated 2002-08-12

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Sept 2024

Net worth

£3.78M

book net assets

Opportunity

83/100

Exceptional

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What this business does

Primary activity: Engineering design activities for industrial process and production

Sector: Professional, scientific & technical

ALSO REGISTERED FOR

77390Renting and leasing of other machinery, equipment and tangible goods n.e.c.
82990Other business support service activities n.e.c.

Investor take

Pursue

Active trading company with a 72-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 57/100. Strong seller-intent signal (63/100, director aged 72). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

4 live charges · 3 lenders · oldest 23.4y

35/100

too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

· Oldest live charge is 23.4 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 35/100 — workable, but lender will want more DD.

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 3 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

4 charges (4/4 with lender, 4/4 with type)

Directors & officers

14 officers (6 active, 14 linked, 10 with DOB)

Ownership & PSC

1 active PSC(s) of 3 total, 3 with control declared

Director network

5 connected companies via shared directors

Filing history

99 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

83/100Exceptional

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

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £3,784,935

Cash YoY

-7%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£127k

↓ 7.4% YoY

Net Worth

£3.8m

↑ 20% YoY

Current Assets

£6.0m

↑ 9.2% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-09-29	2023-09-29
Total assets	£4.65M	£3.57M
Current assets	£5.98M	£5.48M
Cash	£127.1k	£137.3k
Debtors	£5.21M	£4.51M
Net assets	£3.78M	£3.16M

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

🔒Filing-note intelligence

3 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

filings

Last 90 days

filings

Last 180 days

filings

Counts from Companies House filing history.

Corporate timeline (43 events)Click to expand

2025-08-19
📄
change-corporate-secretary-company-with-change-date
officers · CH04
2025-07-01
📄
accounts-with-accounts-type-medium
accounts · AA
2024-08-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-29
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-08-17
➕
GROVE, Lindsey Jane appointed
director
2022-09-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-29
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-03
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2021-09-02
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-08-31
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-08-31
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-08-18
➖
SHARP, Ian Robert resigned
director
2020-06-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-07-03
📄
accounts-with-accounts-type-small
accounts · AA
2018-12-21
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2018-12-21
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2018-12-18
🔒
Charge registered #4
Lender: Bank of Scotland PLC Incorporated Under the Companies Act (Registered Number SC327000), Registered Office, the Mound, Edinburgh EH1 1YZ
2018-12-18
🔒
Charge registered #3
Lender: Bank of Scotland PLC Incorporated Under the Companies Act (Registered Number SC327000), Registered Office, the Mound, Edinburgh EH1 1YZ
2018-08-30
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2018-07-31
➕
SHARP, Ryan appointed
director
2018-06-26
➖
TOMBLESON, Walter resigned
director
2017-09-14
➖
MCCOMBIE, Linda Isabel resigned
director
2014-09-01
➕
ROBERTSON, Leonard George appointed
director
2014-09-01
➕
MCCOMBIE, Linda Isabel appointed
director
2013-04-01
➕
ROY, John Philip appointed
director
2013-03-31
➖
STRONACHS SECRETARIES LIMITED resigned
corporate-secretary
2013-02-01
➕
BLACKADDERS LLP appointed
corporate-secretary
2012-01-27
➖
PARK, Stephen William resigned
director
2010-12-07
🔒
Charge registered #2
Lender: Lloyds Tsb Commercial Finance Limited
2009-12-06
➕
STRONACHS SECRETARIES LIMITED appointed
corporate-secretary
2009-11-18
➖
MACKAY, Claire resigned
secretary
2009-07-29
➕
MCCARLE, Andrew Martin appointed
director
2007-06-01
➕
SHARP, Ian Robert appointed
director
2007-06-01
➕
TOMBLESON, Walter appointed
director
2006-04-20
➕
MACKAY, Claire appointed
secretary
2006-04-20
➖
STRONACHS resigned
corporate-nominee-secretary
2002-12-09
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
2002-08-12
🏢
Company incorporated
As NORCO GROUP LIMITED
2002-08-12
➕
STRONACHS appointed
corporate-nominee-secretary
2002-08-12
➕
PARK, Stephen William appointed
director
2002-08-12
➕
RENNIE, David Alan appointed
nominee-director
2002-08-12
➖
RENNIE, David Alan resigned
nominee-director

Owner dependency

65/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

-5 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 17 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 72 — succession pressure is live.

Succession & seller-readiness

73/100

Strong succession signal

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

SIGNALS

primaryFounder aged 70+: Senior director is approximately 72 years old. Natural succession window is now.
secondary12+ year tenure: Director in role 17 years.
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.)

Group structure

Norco Engineering Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Norco Engineering Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

NORCO GROUP LIMITED

This company · SC235198

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
Norco Engineering Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	17/08/2021

2 historic (ceased) PSCs

Mr Ian Robert Sharpceased 19/08/2021· 25-50% shares
Blackadders Nomineesceased 12/03/2018· 75-100% shares

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 · Professional services · AB postcode area

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JWC SERVICES LIMITED→ SC246124 · est 2003 · no financials extracted	—	—	—	—	23y	—	—
K&K DENTAL LTD→ SC784781 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
K&M LIFTING SOLUTION'S LTD→ SC737888 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
KAIZEN GEOMATICS LTD→ SC810753 · est 2024 · no financials extracted	—	—	—	—	1y	—	—
KALAROX LTD→ SC806273 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
KAUL CONSULTING ENGINEERS LIMITED→ SC620326 · est 2019 · no financials extracted	—	—	—	—	7y	—	—
KELTIC ACCOUNTING LIMITED→ SC353994 · est 2009 · no financials extracted	—	—	—	—	17y	—	—
KERLOCH HOMES LTD→ SC722296 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
KILRYMONT SERVICES LIMITED→ SC388850 · est 2010 · no financials extracted	—	—	—	—	15y	—	—
KINALDIE DESIGN SERVICES LIMITED→ SC384040 · est 2010 · no financials extracted	—	—	—	—	15y	—	—
KINCAPLE ENGINEERING LIMITED→ SC136613 · est 1992 · no financials extracted	—	—	—	—	34y	—	—
KINGDOM FOCUS LIMITED→ SC689389 · est 2021 · no financials extracted	—	—	—	—	5y	—	—

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.

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Company details

Statusactive

Typeltd

Incorporated2002-08-12

Jurisdictionscotland

Primary SIC71121 — Engineering design activities for industrial process and production

Registered office

Norco House Units 3-6 Pitmedden Road

Dyce

Aberdeen

AB21 0DT

Scotland

Filing status

Accounts

Next due: 2026-06-29

Last made up to: 2024-09-29

Confirmation statement

Next due: 2026-10-02

Last: 2025-09-18