PALMERSTON MARINE LIMITED

🌳Matureactive
SC283211 · ltd · incorporated 2005-04-14
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 Mar 2025
Net worth
£109.9k
book net assets
Opportunity
79/100
Strong
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What this business does
Primary activity: Other professional, scientific and technical activities n.e.c.
Sector: Professional, scientific & technical
Investor take
Pursue
Asset-holding vehicle with a 74-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 85/100. Strong seller-intent signal (93/100, director aged 74). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -65% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

5 live charges · oldest 21.0y

45/100
under pressure

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

  • · Oldest live charge is 21.0 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Cashflow trend is negative — lender view likely cautious.

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, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
3 officers (2 active, 3 linked, 2 with DOB)
83
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
73 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
77
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 £109,890
Cash draining
Cash down 65% YoY
Cash YoY
-65%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£296
↓ 65% YoY
Net Worth
£110k
↑ 1.4% YoY
Current Assets
£296
↓ 79% YoY
Current Liabilities
—
£0£22k£44k£66k£88k£110kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Total assets£109.9k£108.3k
Current assets£296£1.4k
Cash£296£834
Debtors—£600
Net assets£109.9k£108.3k

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
1
filing
  • • 1 confirmation-statement
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (32 events)Click to expand
  1. 2025-11-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-11-10
    📄
    change-person-director-company-with-change-date
    officers · CH01
  3. 2025-11-10
    📄
    change-person-director-company-with-change-date
    officers · CH01
  4. 2025-11-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  5. 2025-11-10
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  6. 2025-05-07
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  7. 2025-04-24
    ➕
    CARGILL, Camelia appointed
    director
  8. 2024-10-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2023-10-06
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2022-12-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-11-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2021-10-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2021-10-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  14. 2021-10-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2021-10-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  16. 2021-10-26
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  17. 2021-10-26
    🔓
    Charge satisfied #5
  18. 2021-10-26
    🔓
    Charge satisfied #4
  19. 2021-10-26
    🔓
    Charge satisfied #3
  20. 2021-10-26
    🔓
    Charge satisfied #2
  21. 2021-10-26
    🔓
    Charge satisfied #1
  22. 2020-09-10
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  23. 2019-12-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  24. 2014-04-14
    ➖
    ARCHBOLD ACCOUNTANCY LIMITED resigned
    corporate-secretary
  25. 2005-12-06
    🔒
    Charge registered #5
    Lender: The Royal Bank of Scotland PLC
  26. 2005-08-23
    🔒
    Charge registered #4
    Lender: The Royal Bank of Scotland PLC
  27. 2005-08-23
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  28. 2005-07-04
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  29. 2005-05-26
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  30. 2005-04-14
    🏢
    Company incorporated
    As PALMERSTON MARINE LIMITED
  31. 2005-04-14
    ➕
    CARGILL, James Lownie appointed
    director
  32. 2005-04-14
    ➕
    ARCHBOLD ACCOUNTANCY LIMITED appointed
    corporate-secretary

Owner dependency

91/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 21 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 74 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

86/100
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 74 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 21 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.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr James Lownie Cargill
Individual · British · DOB 07/1952 · age 74
75–100%
—75-100% shares14/04/2017

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

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
Incorporated2005-04-14
Jurisdictionscotland
Primary SIC74909 — Other professional, scientific and technical activities n.e.c.

Registered office

13 Glowrorum Drive
Denny
FK6 5PJ
Scotland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-04-28
Last: 2026-04-14

Officers (2 active · 1 resigned)

CARGILL, Camelia→
director · ~60y · appointed 2025-04-24
View their other companies + combined net worth →
Active
CARGILL, James Lownie→
director · ~74y · appointed 2005-04-14
View their other companies + combined net worth →
Active
ARCHBOLD ACCOUNTANCY LIMITED→
corporate-secretary · appointed 2005-04-14 · resigned 2014-04-14
Resigned

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

Mortgages & charges

5
Total charges
0
Outstanding
0
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property06/12/200526/10/2021
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property23/08/200526/10/2021
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property23/08/200526/10/2021
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property04/07/200526/10/2021
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property26/05/200526/10/2021

Recent filings (73 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-11-17
change-person-director-company-with-change-date
officers · CH01
2025-11-10
change-person-director-company-with-change-date
officers · CH01
2025-11-10
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-11-10
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-11-10
appoint-person-director-company-with-name-date
officers · AP01
2025-05-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-04-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-10-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-04-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-04-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-11-11