KEYSTONE PROPERTIES (MONTROSE) LIMITED
💤Zombieactive
SC261608 · ltd · incorporated 2004-01-08
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
—
Upgrade to see
Turnover
—
year to Jan 2025
Net worth
£96.2k
book net assets
Opportunity
74/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Special-situation opportunityDistressed property with salvageable qualities — special-situations priority.
Opportunity 74/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -88% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
8 live charges · 2 lenders · oldest 21.9y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 21.9 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
8 charges (8/8 with lender, 8/8 with type)
90
Directors & officers
3 officers (2 active, 3 linked, 1 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
74 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒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
74/100Strong
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
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Positive net assets
Net assets £96,190
Very low cash
Cash position: £25
Net assets shrinking
Down £4,091 YoY
Cash draining
Cash down 88% YoY
Cash YoY
-88%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£25
↓ 88% YoY
Net Worth
£96k
↓ 4.1% YoY
Current Assets
£25
↓ 88% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-01-31 | 2024-01-31 |
|---|---|---|
| Total assets | £110.6k | £114.7k |
| Current assets | £25 | £207 |
| Cash | £25 | £207 |
| Net assets | £96.2k | £100.3k |
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 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (38 events)Click to expand
- 2025-10-06📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-09-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-10-02📄change-person-director-company-with-change-dateofficers · CH01
- 2023-10-02📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-10-02📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2023-09-26📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-03-16📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-03-15📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-03-15🔒Charge registered #8Lender: Together Commercial Finance Limited
- 2023-03-14🔒Charge registered #7Lender: Together Commercial Finance Limited
- 2022-11-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-11-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-11-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-11-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-11-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-11-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-11-14🔓Charge satisfied #6
- 2022-11-14🔓Charge satisfied #5
- 2022-11-14🔓Charge satisfied #4
- 2022-11-14🔓Charge satisfied #3
- 2022-11-14🔓Charge satisfied #2
- 2022-11-14🔓Charge satisfied #1
- 2022-10-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-10-05📄change-person-director-company-with-change-dateofficers · CH01
- 2022-10-05📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2022-10-05📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2021-08-06📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2006-04-14🔒Charge registered #6Lender: Clydesdale Bank Public Limited Company
- 2006-03-08🔒Charge registered #5Lender: Clydesdale Bank Public Limited Company
- 2004-06-10🔒Charge registered #4Lender: Clydesdale Bank Public Limited Company
- 2004-06-10🔒Charge registered #3Lender: Clydesdale Bank Public Limited Company
- 2004-05-26🔒Charge registered #2Lender: Clydesdale Bank Public Limited Company
- 2004-05-18🔒Charge registered #1Lender: Clydesdale Bank Public Limited Company
- 2004-01-08🏢Company incorporatedAs KEYSTONE PROPERTIES (MONTROSE) LIMITED
- 2004-01-08➕BROWN, Cathrine appointedsecretary
- 2004-01-08➕BROWN, Victoria appointeddirector
- 2004-01-08➕OSWALDS OF EDINBURGH LIMITED appointedcorporate-nominee-secretary
- 2004-01-08➖OSWALDS OF EDINBURGH LIMITED resignedcorporate-nominee-secretary
Owner dependency
85/100
Critical — business is the founderThe 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 22 years — deep operational knowledge concentrated in one person.
Succession & seller-readiness
75/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- primary20+ year tenure: Director in role 22 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 22 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
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Victoria Brown Individual · British · DOB 06/1975 · age 51 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Property · IV postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| KEY INVESTMENT SOLUTION LTD→ SC466633 · est 2014 · no financials extracted | — | — | — | — | 12y | — | — |
| KINTAIL (PROPERTIES) LTD→ SC636974 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| KRM SKYE LTD→ SC806000 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| KYLE & LOCHALSH COMMUNITY TRUST→ SC430036 · est 2012 · no financials extracted | — | — | — | — | 13y | — | — |
| KYLEAKIN FEUS, LIMITED→ SC028292 · est 1951 · no financials extracted | — | — | — | — | 74y | — | — |
| LASHLEY HOMES LIMITED→ SC546666 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| LAWNMARKET LIMITED→ SC547525 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| LAWSON PROPERTY ENTERPRISES LIMITED→ SC855244 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| LEEM PROPERTY LIMITED→ SC678145 · est 2020 · no financials extracted | — | — | — | — | 5y | — | — |
| LETTING-IN-SCOTLAND LTD.→ SC231382 · est 2002 · no financials extracted | — | — | — | — | 23y | — | — |
| LETTINGS INVERNESS LTD→ SC471619 · est 2014 · no financials extracted | — | — | — | — | 12y | — | — |
| LEUVEN SERVICES (ABERDEEN) LIMITED→ SC088094 · est 1984 · no financials extracted | — | — | — | — | 41y | — | — |
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
Incorporated2004-01-08
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
33 Forsyth Street
Hopeman
Elgin
IV30 5ST
Scotland
Filing status
Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2027-01-22
Last: 2026-01-08
Officers (2 active · 1 resigned)
Active
BROWN, Victoria→
Activedirector · ~51y · appointed 2004-01-08
View their other companies + combined net worth →
OSWALDS OF EDINBURGH LIMITED→
Resignedcorporate-nominee-secretary · appointed 2004-01-08 · resigned 2004-01-08
Click a director name to see their full track record across all companies.
Mortgages & charges
8
Total charges
2
Outstanding
1
Active lenders
Status:Lender:8 of 8 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Together Money Together Commercial Finance Limited | A registered charge | 2 properties | 15/03/2023 | — | |
| outstanding | Together Money Together Commercial Finance Limited | A registered charge | — | 14/03/2023 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 14/04/2006 | 14/11/2022 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 08/03/2006 | 14/11/2022 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 10/06/2004 | 14/11/2022 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 10/06/2004 | 14/11/2022 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 26/05/2004 | 14/11/2022 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 18/05/2004 | 14/11/2022 |
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
2026-01-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-09-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-09
change-person-director-company-with-change-date
officers · CH01
2023-10-02
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-02
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-10-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-26
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-03-16
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-03-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-13
mortgage-satisfy-charge-full
mortgage · MR04
2022-11-14
mortgage-satisfy-charge-full
mortgage · MR04
2022-11-14
mortgage-satisfy-charge-full
mortgage · MR04
2022-11-14