SYSTEMSEPARATION LIMITED

🌳Matureactive
SC271527 · ltd · incorporated 2004-08-03
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 Aug 2024
Net worth
£578.0k
book net assets
Opportunity
74/100
Strong
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What this business does
Primary activity: SIC 02400
Sector: Agriculture, forestry & fishing
ALSO REGISTERED FOR
  • 74909Other professional, scientific and technical activities n.e.c.
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

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. Most likely exit: share sale to pe / searcher (58/100).

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, 2 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
Confirmed no charges registered
85
Directors & officers
8 officers (2 active, 8 linked, 6 with DOB)
85
Ownership & PSC
2 active PSC(s) of 4 total, 4 with control declared
90
Director network
Network not yet resolved
30
Filing history
66 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
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
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £578,027
Cash YoY
+19%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£512k
↑ 19% YoY
Net Worth
£578k
↑ 3.6% YoY
Current Assets
£1.6m
↑ 2.4% YoY
Current Liabilities
—
£0£328k£657k£985k£1.3m£1.6mAug 2023Aug 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-08-312023-08-31
Total assets£632.2k£578.3k
Current assets£1.64M£1.60M
Cash£511.7k£429.8k
Debtors£1.08M£1.08M
Net assets£578.0k£557.9k

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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
  1. 2025-05-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-05-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-05-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-05-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2021-06-17
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  6. 2021-06-17
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  7. 2021-05-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-05-22
    📄
    change-person-director-company-with-change-date
    officers · CH01
  9. 2020-06-12
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  10. 2020-06-02
    📄
    change-person-director-company-with-change-date
    officers · CH01
  11. 2020-06-02
    📄
    change-person-director-company-with-change-date
    officers · CH01
  12. 2020-05-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2020-05-11
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  14. 2020-05-11
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  15. 2020-05-11
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  16. 2020-05-08
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  17. 2020-05-08
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  18. 2020-05-08
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  19. 2020-05-08
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  20. 2020-05-07
    ➕
    VAASMA, Indrek appointed
    director
  21. 2020-05-07
    ➕
    VAASMA, Tanel appointed
    director
  22. 2020-05-07
    ➖
    LITTLE, Christian Andrew resigned
    director
  23. 2020-05-07
    ➕
    VAASMA, Tanel appointed
    director
  24. 2020-05-07
    ➖
    VAASMA, Tanel resigned
    director
  25. 2019-06-20
    ➕
    LITTLE, Christian Andrew appointed
    director
  26. 2019-06-20
    ➖
    WALTERS, Maurice resigned
    director
  27. 2017-09-28
    ➖
    AXIANO COMPANY SECRETARIES LIMITED resigned
    corporate-secretary
  28. 2006-09-01
    ➖
    PAPANTONIOU, Ishbel Margarita Turner Turnbull resigned
    secretary
  29. 2006-09-01
    ➕
    AXIANO COMPANY SECRETARIES LIMITED appointed
    corporate-secretary
  30. 2006-04-13
    ➕
    WALTERS, Maurice appointed
    director
  31. 2006-04-13
    ➖
    WALTERS, Sarah resigned
    director
  32. 2004-08-03
    🏢
    Company incorporated
    As SYSTEMSEPARATION LIMITED
  33. 2004-08-03
    ➕
    PAPANTONIOU, Ishbel Margarita Turner Turnbull appointed
    secretary
  34. 2004-08-03
    ➕
    WALTERS, Sarah appointed
    director

Owner dependency

66/100
High — earn-out structure required

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

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

46/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondaryStable-but-static management: Company is 22 years old and no new directors in the last 3 years — succession not yet being planned internally.

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

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Indrek Vaasma
Individual · Estonian · DOB 06/1969 · age 57
50–75%
—50-75% shares07/05/2020
Mr Tanel Vaasma
Individual · Estonian · DOB 10/1982 · age 44
25–50%
—25-50% shares10/06/2021
2 historic (ceased) PSCs
  • Jonas Bernt Olof Gustafssonceased 10/06/2021· 25-50% shares
  • Indrek Vaasmaceased 07/05/2020· 25-50% shares

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

6 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
Incorporated2004-08-03
Jurisdictionscotland
Primary SIC02400 — SIC 02400

Registered office

9a Tinto Place
Edinburgh
EH6 5GD
United Kingdom

Filing status

Accounts
Next due: 2026-05-31
Last made up to: 2024-08-31
Confirmation statement
Next due: 2026-07-01
Last: 2025-06-17

Officers (2 active · 6 resigned)

VAASMA, Indrek→
director · ~57y · appointed 2020-05-07
View their other companies + combined net worth →
Active
VAASMA, Tanel→
director · ~44y · appointed 2020-05-07
View their other companies + combined net worth →
Active
PAPANTONIOU, Ishbel Margarita Turner Turnbull→
secretary · appointed 2004-08-03 · resigned 2006-09-01
Resigned
AXIANO COMPANY SECRETARIES LIMITED→
corporate-secretary · appointed 2006-09-01 · resigned 2017-09-28
Resigned
LITTLE, Christian Andrew→
director · ~38y · appointed 2019-06-20 · resigned 2020-05-07
Resigned
VAASMA, Tanel→
director · ~44y · appointed 2020-05-07 · resigned 2020-05-07
Resigned
WALTERS, Maurice→
director · ~72y · appointed 2006-04-13 · resigned 2019-06-20
Resigned
WALTERS, Sarah→
director · ~45y · appointed 2004-08-03 · resigned 2006-04-13
Resigned

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

Recent filings (66 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2025-06-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-07-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-05-31
confirmation-statement-with-updates
confirmation-statement · CS01
2021-06-17
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2021-06-17
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-06-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-28
change-person-director-company-with-change-date
officers · CH01
2021-05-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-01
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2020-06-12