GLENSHEE LIMITED

🌳Matureactive

SC269348 · ltd · incorporated 2004-06-15

Investment thesis

Looks cheap but ownership + security both unclear — probable value trap.

Why interesting: Headline metrics may be attractive.

Why risky: No PSC visibility combined with multiple live charges; transacting likely slow and expensive.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Nov 2024

Net worth

£625.3k

book net assets

Opportunity

83/100

Exceptional

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What this business does

Primary activity: Activities of sport clubs

Sector: Arts, entertainment & recreation

Investor take

Pursue

Active trading company with a 71-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 75/100. Strong seller-intent signal (63/100, director aged 71). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 21.3y

30/100

under pressure

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

· Oldest live charge is 21.3 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 (71/100)

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

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

17 officers (5 active, 17 linked, 14 with DOB)

Ownership & PSC

No PSCs filed (unusual — worth investigating)

Director network

1 connected companies via shared directors

Filing history

105 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 · FRS 102

Positive net assets

Net assets £625,336

Cash YoY

-29%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£395k

↓ 29% YoY

Net Worth

£625k

↑ 979% YoY

Current Assets

£483k

↓ 27% YoY

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
Total assets	£705.8k	£156.1k
Current assets	£483.0k	£662.8k
Cash	£394.8k	£558.5k
Debtors	£53.3k	£65.0k
Net assets	£625.3k	£58.0k

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

filings

Last 90 days

filings

Last 180 days

filings

Counts from Companies House filing history.

Corporate timeline (49 events)Click to expand

2025-08-26
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-05
📄
resolution
resolution · RESOLUTIONS
2025-02-03
📄
second-filing-of-confirmation-statement-with-made-up-date
confirmation-statement · RP04CS01
2025-02-03
📄
second-filing-of-confirmation-statement-with-made-up-date
confirmation-statement · RP04CS01
2025-02-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-02-03
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-12-31
➖
LAWRENCE, Aileen resigned
director
2024-11-05
➕
PEARSON, Robert John appointed
director
2024-08-07
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-05
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-26
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-18
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-05-26
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-01-09
📄
capital-sale-or-transfer-treasury-shares-with-date-currency-capital-figure
capital · SH04
2019-08-08
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-08-08
🔓
Charge satisfied #2
2019-04-23
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-06-08
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-01-25
📄
resolution
resolution · RESOLUTIONS
2017-04-19
➕
FARQUHARSON, David Duncan appointed
director
2017-04-19
➖
DAVIDSON, Charles Stewart resigned
director
2017-01-13
➖
MCCABE, Arthur Graham resigned
director
2017-01-13
➖
MESTON, William Anderson resigned
director
2016-10-24
➖
GRAY, Steven Christie resigned
director
2016-10-24
➖
RATTRAY, Gordon resigned
director
2016-04-27
➕
GRAY, Steven Christie appointed
director
2015-12-15
➖
JONES, Raymond John resigned
director
2015-04-29
➕
JONES, Raymond John appointed
director
2015-04-29
➖
KINSELLA, John resigned
director
2015-04-29
➕
RATTRAY, Gordon appointed
director
2013-04-25
➖
FARQUHARSON, David Duncan resigned
director
2013-04-25
➕
KINSELLA, John appointed
director
2010-03-01
➖
COLES, Roy Walter Mcintosh resigned
secretary
2008-12-11
➕
FARQUHARSON, David Duncan appointed
director
2005-04-20
🔒
Charge registered #2
Lender: The Aberdeenshire Council
2005-01-12
🔒
Charge registered #1
Lender: Clydesdale Bank Public Limited Company
2004-09-24
➕
MALLOCH, William Wilson appointed
director
2004-09-24
➕
PATTERSON, David George appointed
director
2004-09-24
➕
LAWRENCE, Aileen appointed
director
2004-09-24
➕
MESTON, William Anderson appointed
director
2004-07-16
➕
HUNTER, Katherine Mary Holt appointed
director
2004-07-16
➕
COLES, Roy Walter Mcintosh appointed
secretary
2004-07-16
➖
MORTON FRASER SECRETARIES LIMITED resigned
corporate-nominee-secretary
2004-07-16
➕
DAVIDSON, Charles Stewart appointed
director
2004-07-16
➕
MCCABE, Arthur Graham appointed
director
2004-07-16
➖
MORTON FRASER DIRECTORS LIMITED resigned
corporate-nominee-director
2004-06-15
🏢
Company incorporated
As GLENSHEE LIMITED
2004-06-15
➕
MORTON FRASER SECRETARIES LIMITED appointed
corporate-nominee-secretary
2004-06-15
➕
MORTON FRASER DIRECTORS LIMITED appointed
corporate-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 22 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 71 — succession pressure is live.

Succession & seller-readiness

80/100

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 71 years old. Natural succession window is now.
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

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

🔒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 · Leisure & entertainment · AB postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
JOHN CODONA'S PLEASURE FAIRS LIMITED→ SC022655 · est 1944	£172.2k £133.9k–£210.4k	£7.30M	—	20400	82y	87	80y
BANKS O'DEE SPORTS CLUB LIMITED→ SC175110 · est 1997 · no financials extracted	—	—	—	—	28y	83	79y
CLATT AULD KIRK→ SC161856 · est 1995 · no financials extracted	—	—	—	—	30y	83	71y
DEESIDE GLIDING CLUB (ABERDEENSHIRE) LIMITED→ SC034867 · est 1960	—	—	£755.2k	—	66y	83	77y
KEITH FOOTBALL CLUB LTD.→ SC271946 · est 2004	—	—	—	0	21y	83	71y
PEACOCK VISUAL ARTS LIMITED→ SC056235 · est 1974 · no financials extracted	—	—	—	—	51y	83	80y
PETERHEAD FOOTBALL CLUB LIMITED→ SC146014 · est 1993 · no financials extracted	—	—	—	—	32y	83	78y
THE KEITH & DISTRICT SPORTS TRUST→ SC141101 · est 1992 · no financials extracted	—	—	—	—	33y	83	81y
ARDOYNE PERFORMANCE LIMITED→ SC308365 · est 2006	—	—	—	0	19y	82	63y
SAR FUNCTIONAL FITNESS LIMITED→ SC840707 · est 2025 · no financials extracted	—	—	—	—	1y	—	—
SKINNY PINK HIPPO LIMITED→ SC802223 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
TRIPLE D PROMOTIONS LTD→ SC835435 · est 2025 · no financials extracted	—	—	—	—	1y	—	—

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

Incorporated2004-06-15

Jurisdictionscotland

Primary SIC93120 — Activities of sport clubs

Registered office

Glenshee Ltd

Cairnwell

Braemar

AB35 5XU

Scotland

Filing status

Accounts

Next due: 2026-08-31

Last made up to: 2024-11-30

Confirmation statement

Next due: 2026-06-29

Last: 2025-06-15