NEW CITY LETTING LIMITED
💤Zombieactive
SC284333 · ltd · incorporated 2005-05-05
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 Apr 2025
Net worth
£253.4k
book net assets
Opportunity
77/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueAsset-holding vehicle with a 61-year-old founder — textbook succession opportunity.
Opportunity 77/100 (strong), bankability 77/100. Strong seller-intent signal (65/100, director aged 61). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
34 live charges · 5 lenders · oldest 20.8y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 20.8 years old — likely at or near maturity.
- · 5 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (69/100)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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
34 charges (34/34 with lender, 34/34 with type)
90
Directors & officers
9 officers (1 active, 9 linked, 5 with DOB)
81
Ownership & PSC
2 active PSC(s) of 4 total, 4 with control declared
90
Director network
Network not yet resolved
30
Filing history
142 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
77/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
70
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 102Positive net assets
Net assets £253,374
Key financials
1 year extracted from filed iXBRL accountsCash
—
Net Worth
£253k
Current Assets
£15k
Current Liabilities
—
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-04-30 |
|---|---|
| Total assets | £262.6k |
| Current assets | £14.9k |
| Debtors | £14.9k |
| Net assets | £253.4k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
3 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
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 (105 events)Click to expand
- 2026-01-28📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-05-12📄change-person-director-company-with-change-dateofficers · CH01
- 2025-05-12📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2025-05-12📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2024-10-15📄change-account-reference-date-company-current-extendedaccounts · AA01
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-04-18🔓Charge satisfied #34
- 2024-04-18🔓Charge satisfied #33
- 2024-04-18🔓Charge satisfied #32
- 2024-04-18🔓Charge satisfied #31
- 2024-04-18🔓Charge satisfied #30
- 2024-04-18🔓Charge satisfied #29
- 2024-04-18🔓Charge satisfied #28
- 2024-02-08📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-06-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-06-19📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-06-19📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-11-01➖CARRICK, Steven resigneddirector
- 2022-10-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-07-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-04-15📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2019-07-05🔒Charge registered #34Lender: Ultimate Bridging Finance Limited
- 2019-07-05🔒Charge registered #33Lender: Ultimate Bridging Finance Limited
- 2019-07-05🔒Charge registered #32Lender: Ultimate Bridging Finance Limited
- 2019-06-18🔒Charge registered #31Lender: Ultimate Bridging Finance Limited
- 2019-03-21🔒Charge registered #30Lender: Residential Loans Limited
- 2018-08-15🔒Charge registered #29Lender: Residential Loans Limited
- 2018-08-03🔒Charge registered #28Lender: Residential Loans Limited
- 2018-05-23🔓Charge satisfied #17
- 2018-05-23🔓Charge satisfied #10
- 2018-05-23🔓Charge satisfied #7
- 2018-05-23🔓Charge satisfied #1
- 2018-04-23➖CLARKE, Anthony Thomas resigneddirector
- 2018-04-23➖GLOVER, George Edward resigneddirector
- 2018-04-20➕MACKEY, Trevor Kenneth appointeddirector
- 2018-04-20➕CARRICK, Steven appointeddirector
- 2018-04-19🔓Charge satisfied #26
- 2018-04-19🔓Charge satisfied #25
- 2018-04-19🔓Charge satisfied #24
- 2018-04-19🔓Charge satisfied #23
- 2018-04-19🔓Charge satisfied #22
- 2018-04-19🔓Charge satisfied #21
- 2018-04-19🔓Charge satisfied #20
- 2018-04-19🔓Charge satisfied #19
Showing most recent 50 of 105 events
Owner dependency
83/100
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.
- +Senior director age: Director aged approximately 61 — approaching natural succession window.
Succession & seller-readiness
65/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- secondaryStable-but-static management: Company is 21 years old and no new directors in the last 3 years — succession not yet being planned internally.
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.
Group structure
Culmore Investments Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Culmore Investments Limited
Corporate parent · holds 75-100% shares · board control
⬇
NEW CITY LETTING LIMITED
This company · SC284333
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
2 active beneficial owners · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Culmore Investments Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 20/04/2018 |
Mr Trevor Kenneth Mackey Individual · British · DOB 12/1965 · age 61 | — | — | sig. influencesignificant influence | 20/04/2018 |
2 historic (ceased) PSCs
- Mr Steven Carrickceased 01/11/2022· significant influence
- Mr George Edward Gloverceased 23/04/2018· 25-50% shares
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Property · G postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| N K GLASGOW LTD→ SC853809 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| NERLANA HOMES LTD→ SC708108 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| NERO COMMERCIAL LTD→ SC327575 · est 2007 · no financials extracted | — | — | — | — | 18y | — | — |
| NEW WEST PROPERTIES LIMITED→ SC262668 · est 2004 · no financials extracted | — | — | — | — | 22y | — | — |
| NEWLANDS LETTINGS LIMITED→ SC839107 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| NEWLANDSMUIR PROPERTIES LTD→ SC837833 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| NEWTON GLEN LEISURE LTD→ SC776010 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| NGS HOMES LTD→ SC510291 · est 2015 · no financials extracted | — | — | — | — | 10y | — | — |
| NGS PROPERPRENEUR LIMITED→ SC551473 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| NICO PROPERTY MANAGEMENT LTD→ SC635963 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| NIKON PROPERTY LIMITED→ SC287333 · est 2005 · no financials extracted | — | — | — | — | 20y | — | — |
| NIKSHIV1 LTD→ SC844012 · 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
Incorporated2005-05-05
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
36 Washington Street
Glasgow
G3 8AZ
Scotland
Filing status
Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2027-05-07
Last: 2026-04-23
Officers (1 active · 8 resigned)
MACKEY, Trevor Kenneth→
Activedirector · ~61y · appointed 2018-04-20
View their other companies + combined net worth →
EDWARDS, Rosalind→
Resignedsecretary · appointed 2006-02-06 · resigned 2015-05-19
MCCALL, Moira Chapman→
Resignedsecretary · appointed 2005-05-05 · resigned 2006-02-06
BRIAN REID LTD.→
Resignedcorporate-nominee-secretary · appointed 2005-05-05 · resigned 2005-05-05
CARRICK, Steven→
Resigneddirector · ~35y · appointed 2018-04-20 · resigned 2022-11-01
CLARKE, Anthony Thomas→
Resigneddirector · ~72y · appointed 2005-05-05 · resigned 2018-04-23
EDWARDS, Rosalind→
Resigneddirector · ~66y · appointed 2005-05-05 · resigned 2015-05-19
GLOVER, George Edward→
Resigneddirector · ~79y · appointed 2005-05-05 · resigned 2018-04-23
STEPHEN MABBOTT LTD.→
Resignedcorporate-nominee-director · appointed 2005-05-05 · resigned 2005-05-05
Click a director name to see their full track record across all companies.
Mortgages & charges
34
Total charges
0
Outstanding
0
Active lenders
Status:Lender:34 of 34 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Ultimate Bridging Finance Ultimate Bridging Finance Limited | A registered charge | 1 property | 05/07/2019 | 18/04/2024 | |
| satisfied | Ultimate Bridging Finance Ultimate Bridging Finance Limited | A registered charge | 1 property | 05/07/2019 | 18/04/2024 | |
| satisfied | Ultimate Bridging Finance Ultimate Bridging Finance Limited | A registered charge | 1 property | 05/07/2019 | 18/04/2024 | |
| satisfied | Ultimate Bridging Finance Ultimate Bridging Finance Limited | A registered charge | — | 18/06/2019 | 18/04/2024 | |
| satisfied | Residential Loans Residential Loans Limited | A registered charge | 1 property | 21/03/2019 | 18/04/2024 | |
| satisfied | Residential Loans Residential Loans Limited | A registered charge | 1 property | 15/08/2018 | 18/04/2024 | |
| satisfied | Residential Loans Residential Loans Limited | A registered charge | — | 03/08/2018 | 18/04/2024 | |
| satisfied | George Edward Glover and Another | Standard security | 1 property | 01/11/2010 | 12/02/2011 | |
| satisfied | George Edward Glover and Another | Standard security | 1 property | 01/11/2010 | 19/04/2018 | |
| satisfied | Lloyds Banking Group Royal Bank of Scotland PLC | Standard security | 1 property | 19/03/2008 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 06/02/2008 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 22/11/2007 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 26/06/2007 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 08/03/2007 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 23/02/2007 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 28/08/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 21/08/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 24/07/2006 | 23/05/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 21/06/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 24/05/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 17/05/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 24/04/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 04/04/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 24/03/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 09/02/2006 | 23/05/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 09/02/2006 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 29/12/2005 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 22/12/2005 | 23/05/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 31/10/2005 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 31/10/2005 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 31/10/2005 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 31/10/2005 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 31/10/2005 | 19/04/2018 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Bond & floating charge | 1 property | 04/08/2005 | 23/05/2018 |
Recent filings (142 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-05-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-01-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-12
change-person-director-company-with-change-date
officers · CH01
2025-05-12
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-05-12
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2025-05-12
change-account-reference-date-company-current-extended
accounts · AA01
2024-10-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-05-07
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18
mortgage-satisfy-charge-full
mortgage · MR04
2024-04-18