HSB HOLDINGS LIMITED

📉Decliningactive

SC260511 · ltd · incorporated 2003-12-09

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.

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 "declining"

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Nov 2024

Net worth

—

book net assets

Opportunity

79/100

Strong

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What this business does

Primary activity: Activities of head offices

Sector: Professional, scientific & technical

Investor take

Pursue

Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 79/100 (strong), bankability 67/100. 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: strategic trade sale (78/100).

🏦

Refinance opportunity

5 live charges · 3 lenders · oldest 22.1y

35/100

too messy

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

· Oldest live charge is 22.1 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 25/100 — 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, 1 SIC codes, incorporation date

100

Financials

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

Lenders & charges

5 charges (5/5 with lender, 5/5 with type)

Directors & officers

11 officers (7 active, 11 linked, 8 with DOB)

Ownership & PSC

1 active PSC(s) of 2 total, 2 with control declared

Director network

4 connected companies via shared directors

Filing history

107 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →

Opportunity Score

79/100Strong

PassWatchWorth a lookStrongExceptional

Solid opportunity signal. Worth a dedicated memo and management meeting.

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 · FRS 102

Profitable

Profit before tax £781,942

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2024-11-30	2023-11-30
Turnover	—	£196.6k
Gross profit	—	£196.6k
Operating profit	—	£164.1k
Profit before tax	£781.9k	£2.11M
Average employees	0	0

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

filings

Last 90 days

filings

Last 180 days

filings

• 5 officers
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (45 events)Click to expand

2025-12-19
📄
change-person-director-company-with-change-date
officers · CH01
2025-12-19
📄
change-person-director-company-with-change-date
officers · CH01
2025-12-19
📄
change-person-director-company-with-change-date
officers · CH01
2025-12-19
📄
change-person-director-company-with-change-date
officers · CH01
2025-12-15
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-31
📄
change-person-director-company-with-change-date
officers · CH01
2025-08-01
📄
accounts-with-accounts-type-full
accounts · AA
2024-10-04
📄
accounts-with-accounts-type-medium
accounts · AA
2023-12-15
📍
move-registers-to-registered-office-company-with-new-address
address · AD04
2023-12-15
📍
change-sail-address-company-with-old-address-new-address
address · AD02
2023-09-04
📄
accounts-with-accounts-type-full
accounts · AA
2023-08-09
📄
appoint-corporate-secretary-company-with-name-date
officers · AP04
2023-08-09
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2023-08-09
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-07-18
➕
STRONACHS SECRETARIES LIMITED appointed
corporate-secretary
2023-07-18
➖
ROBB, Gregor Alexander resigned
secretary
2022-10-20
📄
accounts-with-accounts-type-group
accounts · AA
2022-08-04
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-08-03
🔒
Charge registered #5
Lender: Allica Bank Limited
2022-06-16
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-06-06
📄
memorandum-articles
incorporation · MA
2022-06-06
📄
resolution
resolution · RESOLUTIONS
2022-06-06
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-06-06
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-05-27
➕
FARQUHAR, Graeme Paterson appointed
director
2022-05-27
➕
GALLOWAY, Donald Hugh appointed
director
2022-05-27
➕
SHAND, Garry John appointed
director
2022-05-27
🔒
Charge registered #4
Lender: Allica Bank Limited
2021-10-28
🔓
Charge satisfied #3
2021-10-04
🔓
Charge satisfied #2
2017-02-20
🔓
Charge satisfied #1
2013-09-26
➖
ROBERTS, William Alexander resigned
director
2008-03-24
🔒
Charge registered #3
Lender: Clydesdale Bank PLC
2008-03-04
🔒
Charge registered #2
Lender: Clydesdale Bank PLC
2004-04-08
➕
ROBB, Gregor Alexander appointed
secretary
2004-04-08
➖
IAIN SMITH & COMPANY resigned
corporate-nominee-secretary
2004-04-08
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
2004-03-24
➕
CAMPBELL, Gary David appointed
director
2004-03-24
➕
LEIPER, Martin appointed
director
2004-03-24
➕
ROBB, Gregor Alexander appointed
director
2004-03-24
➕
ROBERTS, William Alexander appointed
director
2004-03-24
➖
ROXBURGH, Roy resigned
nominee-director
2003-12-09
🏢
Company incorporated
As HSB HOLDINGS LIMITED
2003-12-09
➕
IAIN SMITH & COMPANY appointed
corporate-nominee-secretary
2003-12-09
➕
ROXBURGH, Roy appointed
nominee-director

Owner dependency

58/100

Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS

-6 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 22 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 61 — approaching natural succession window.

Succession & seller-readiness

60/100

Strong succession signal

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

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
primary20+ year tenure: Director in role 22 years. Very long tenure is a classic succession signal.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

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

🏛️

Hutcheon Investments Limited

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

HSB HOLDINGS LIMITED

This company · SC260511

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
Hutcheon Investments Limited Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	27/05/2022

1 historic (ceased) PSC

Mr Gary David Campbellceased 27/05/2022· 50-75% 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

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
GENERAL OCEANS UK HOLDINGS LTD→ SC308386 · est 2006	£9.77M £7.20M–£12.34M	—	—	0	19y	84	68y
HIGHLAND FUELS HOLDINGS LIMITED→ SC215790 · est 2001	£9.50M £7.00M–£12.00M	—	—	300	25y	88	62y
CRAIGSHANNOCH LIMITED→ SC191743 · est 1998	£5.90M £4.34M–£7.45M	£2.95M	—	300	27y	88	67y
T D C PARSONS PEEBLES LIMITED→ SC663297 · est 2020	£2.76M £2.03M–£3.48M	£11.52M	—	5100	5y	87	77y
ROTECH HOLDINGS LIMITED→ SC148822 · est 1994	£1.97M £1.45M–£2.49M	£453.6k	—	0	32y	92	58y
WELLTEC (UK) LTD.→ SC204742 · est 2000	£134.9k £99.4k–£170.4k	£17.23M	—	3200	26y	85	62y
ACCURA MEASUREMENT LIMITED→ SC322109 · est 2007	—	—	£5.47M	—	19y	83	60y
ALLEN ASSOCIATES (H.P.E.) LIMITED→ SC201596 · est 1999 · no financials extracted	—	—	—	—	26y	83	59y
BOURTREE INVESTMENTS LIMITED→ SC190868 · est 1998	—	—	—	—	27y	83	61y
CONNECT NDT LIMITED→ SC205224 · est 2000	—	—	—	—	26y	83	70y
CUMMING & CO. (ABERDEEN) LTD.→ SC248131 · est 2003	—	—	£352.1k	—	23y	83	58y
ETPM LIMITED→ SC318161 · est 2007	—	—	—	1800	19y	83	63y

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

Incorporated2003-12-09

Jurisdictionscotland

Primary SIC70100 — Activities of head offices

Registered office

28 Albyn Place

Aberdeen

AB10 1YL

United Kingdom

Filing status

Accounts

Next due: 2026-08-31

Last made up to: 2024-11-30

Confirmation statement

Next due: 2026-12-23

Last: 2025-12-09