D H MARINE (MERGI) LIMITED

🌳Matureactive

SC285528 · ltd · incorporated 2005-05-31

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

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 17.3y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to May 2025

Net worth

£699.7k

book net assets

Opportunity

78/100

Strong

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: Other retail sale in non-specialised stores

Sector: Wholesale & retail

Investor take

Pursue

Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 78/100 (strong), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. 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: strategic trade sale (63/100).

🏦

Refinance opportunity

2 live charges · oldest 17.3y

65/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Oldest live charge is 17.3 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (79/100)

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

3 officers (3 active, 3 linked, 2 with DOB)

Ownership & PSC

2 active PSC(s) of 2 total, 2 with control declared

Director network

1 connected companies via shared directors

Filing history

48 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

78/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Some acquirability indicators.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £699,680

Cash YoY

+57%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£308k

↑ 57% YoY

Net Worth

£700k

↑ 20% YoY

Current Assets

£389k

↑ 39% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-05-31	2024-05-31
Total assets	£699.8k	£584.1k
Current assets	£388.8k	£279.4k
Cash	£308.4k	£197.0k
Debtors	£61.5k	£65.2k
Net assets	£699.7k	£583.4k

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 (23 events)Click to expand

2025-08-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-20
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-05
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-10-12
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-11-17
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-01-07
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-12-28
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-02-15
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2016-11-18
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2016-06-09
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2015-11-23
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2015-06-09
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2014-09-18
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2014-06-20
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2013-09-09
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2013-04-17
🔓
Charge satisfied #2
2009-04-07
🔒
Charge registered #2
Lender: Bank of Scotland PLC
2009-02-17
🔒
Charge registered #1
Lender: Bank of Scotland PLC
2005-05-31
🏢
Company incorporated
As D H MARINE (MERGI) LIMITED
2005-05-31
➕
HENRY, Heather appointed
secretary
2005-05-31
➕
HENRY, David James appointed
director
2005-05-31
➕
HENRY, Heather appointed
director

Owner dependency

76/100

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.
+Long-tenure founder: Senior director has been in place 21 years — deep operational knowledge concentrated in one person.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

66/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

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.
secondaryStable-but-static management: Company is 21 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

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

Name	Shares	Voting rights	Nature of control	Notified
Mrs Heather Henry Individual · British · DOB 09/1977 · age 49	25–50%	25–50%	25-50% shares · 25-50% voting	01/06/2016
Mr David James Henry Individual · British · DOB 04/1973 · age 53	25–50%	25–50%	25-50% shares · 25-50% voting	01/06/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒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 · Retail · ZE postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
BLYDOIT FISH LIMITED→ SC243849 · est 2003	—	—	£248.7k	—	23y	83	65y
CEE & JAYS LIMITED→ SC335262 · est 2007	—	—	—	800	18y	83	64y
GTS CENTRAL LTD→ SC361392 · est 2009	—	—	£1.76M	—	16y	83	69y
FRANK WILLIAMSON LIMITED→ SC263009 · est 2004	—	—	—	10	22y	82	72y
LINKSHOUSE STORES LIMITED→ SC314571 · est 2007	—	—	—	0	19y	82	71y
HARRY'S DEPARTMENT STORE LIMITED→ SC242309 · est 2003	—	—	£775.2k	—	23y	80	58y
AYWICK SHOP LTD→ SC466305 · est 2013	—	—	£172.0k	—	12y	79	84y
BOLTS SHETLAND LIMITED→ SC033840 · est 1959	—	—	—	—	67y	79	65y
HILLSWICK SHOP LTD→ SC366918 · est 2009	—	—	—	11	16y	79	71y
HOULLS HORSES AND HOUNDS LIMITED→ SC469404 · est 2014	—	—	—	1	12y	78	63y
BURNS LANE CLOTHING LTD→ SC577615 · est 2017	—	—	—	300	8y	77	64y
CALLIEU FAMILY BUTCHERS LIMITED→ SC685277 · est 2021	—	—	—	-300	5y	76	74y

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

Incorporated2005-05-31

Jurisdictionscotland

Primary SIC47190 — Other retail sale in non-specialised stores

Registered office

Marina Business Park

Gremista

Lerwick

Shetland

ZE1 0TA

Filing status

Accounts

Next due: 2027-02-28

Last made up to: 2025-05-31

Confirmation statement

Next due: 2026-06-14

Last: 2025-05-31

Officers (3 active · 0 resigned)

HENRY, Heather→

secretary · appointed 2005-05-31

View their other companies + combined net worth →

Active

HENRY, David James→

director · ~53y · appointed 2005-05-31

View their other companies + combined net worth →

Active

HENRY, Heather→

director · ~49y · appointed 2005-05-31

View their other companies + combined net worth →

Active

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:2 of 2 shown

			Type	Properties
	satisfied	Lloyds Banking Group Bank of Scotland PLC	Standard security	1 property	07/04/2009	17/04/2013
	outstanding	Lloyds Banking Group Bank of Scotland PLC	Bond & floating charge	1 property	17/02/2009	—

Click column headers to sort. Use filters above to narrow by status and lender.