FERNOCH LIMITED

🌳Matureactive
SC301506 · ltd · incorporated 2006-04-28
Investment thesis
Property vehicle with a workable charge structure — clean refinance potential.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Dependent on title and valuation due diligence; standard property risks.
Why now
Window opening · medium confidence
More negotiable than before — 1 signals weakening over the last 30 days.
  • · Deal-killer verdict: clean → complicated
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 18.7y old — refinance window within 12 months
What changed my view
Last 30 days

Picture worsened over the last 30 days — 1 negative signal vs 0 positive.

  • ↓Deal-killer verdict: clean → complicated
Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Apr 2025
Net worth
£593.0k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Pursue
Asset-holding vehicle with a 73-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 85/100. Strong seller-intent signal (83/100, director aged 73). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

1 live charge · oldest 18.7y

85/100
ready

Refinance conversation should be productive — structure clean and timing right.

  • · Oldest live charge is 18.7 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Legal-friction score 15/100 — clean.

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
7 officers (3 active, 7 linked, 4 with DOB)
81
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
65 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
82/100Exceptional
PassWatchWorth a lookStrongExceptional 

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 105 (micro)
Positive net assets
Net assets £592,984

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£593k
↑ 23% YoY
Current Assets
£576k
↑ 38% YoY
Current Liabilities
—
£0£119k£237k£356k£474k£593kApr 2024Apr 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)
Metric2025-04-302024-04-30
Total assets£593.0k£481.5k
Current assets£576.4k£417.6k
Net assets£593.0k£481.5k

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
3
filings
  • • 3 persons-with-significant-control
Last 90 days
3
filings
  • • 3 persons-with-significant-control
Last 180 days
3
filings
  • • 3 persons-with-significant-control
Counts from Companies House filing history.
Corporate timeline (32 events)Click to expand
  1. 2026-05-29
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  2. 2026-05-29
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  3. 2026-05-29
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  4. 2025-10-07
    📄
    capital-name-of-class-of-shares
    capital · SH08
  5. 2025-09-18
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2025-04-30
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  7. 2025-04-30
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  8. 2025-01-26
    ➖
    LEITCH, Donald Whyte resigned
    director
  9. 2025-01-26
    ➖
    LEITCH, Duncan Izat resigned
    director
  10. 2024-07-18
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2023-07-13
    📄
    capital-allotment-shares
    capital · SH01
  12. 2023-07-11
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2022-08-01
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2022-01-15
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2022-01-15
    🔓
    Charge satisfied #1
  16. 2021-09-08
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  17. 2020-11-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  18. 2020-09-09
    ➕
    LEITCH, Callum appointed
    director
  19. 2020-09-09
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  20. 2019-07-11
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  21. 2018-10-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  22. 2018-05-18
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  23. 2007-09-20
    🔒
    Charge registered #1
    Lender: Greenpower (Carraig Gheal) Limited
  24. 2006-04-28
    🏢
    Company incorporated
    As FERNOCH LIMITED
  25. 2006-04-28
    ➕
    LEITCH, Stella Barbara appointed
    secretary
  26. 2006-04-28
    ➕
    LEITCH, Stella Barbara appointed
    director
  27. 2006-04-28
    ➕
    SMALL FIRMS SECRETARY SERVICES LIMITED appointed
    corporate-secretary
  28. 2006-04-28
    ➖
    SMALL FIRMS SECRETARY SERVICES LIMITED resigned
    corporate-secretary
  29. 2006-04-28
    ➕
    LEITCH, Donald Whyte appointed
    director
  30. 2006-04-28
    ➕
    LEITCH, Duncan Izat appointed
    director
  31. 2006-04-28
    ➕
    SMALL FIRMS DIRECT SERVICES LIMITED appointed
    corporate-director
  32. 2006-04-28
    ➖
    SMALL FIRMS DIRECT SERVICES LIMITED resigned
    corporate-director

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 20 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 73 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

96/100
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 73 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 20 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 20 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

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Donald Whyte Leitch
Individual · British · DOB 08/1953 · age 73
50–75%
50–75%50-75% shares · 50-75% voting06/04/2016
2 historic (ceased) PSCs
  • Mrs Stella Barbara Leitchceased 01/09/2025· 25-50% shares · 25-50% voting
  • Mr Duncan Izat Leitchceased 01/09/2025· 25-50% shares · 25-50% voting

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
Incorporated2006-04-28
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

Upper Achachenna
Kichrenan
Taynuilt
Argyll
PA35 1HG
Scotland

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2026-06-30
Last: 2025-06-16

Officers (3 active · 4 resigned)

LEITCH, Stella Barbara→
secretary · appointed 2006-04-28
View their other companies + combined net worth →
Active
LEITCH, Callum→
director · ~32y · appointed 2020-09-09
View their other companies + combined net worth →
Active
LEITCH, Stella Barbara→
director · ~73y · appointed 2006-04-28
View their other companies + combined net worth →
Active
SMALL FIRMS SECRETARY SERVICES LIMITED→
corporate-secretary · appointed 2006-04-28 · resigned 2006-04-28
Resigned
LEITCH, Donald Whyte→
director · ~73y · appointed 2006-04-28 · resigned 2025-01-26
Resigned
LEITCH, Duncan Izat→
director · ~66y · appointed 2006-04-28 · resigned 2025-01-26
Resigned
SMALL FIRMS DIRECT SERVICES LIMITED→
corporate-director · appointed 2006-04-28 · resigned 2006-04-28
Resigned

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

Mortgages & charges

1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
satisfied
Greenpower (Carraig Gheal)
Greenpower (Carraig Gheal) Limited
Standard security1 property20/09/200715/01/2022

Recent filings (65 total)

change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-05-29
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-05-29
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-05-29
capital-name-of-class-of-shares
capital · SH08
2025-10-07
accounts-with-accounts-type-micro-entity
accounts · AA
2025-09-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-20
termination-director-company-with-name-termination-date
officers · TM01
2025-04-30
termination-director-company-with-name-termination-date
officers · TM01
2025-04-30
accounts-with-accounts-type-micro-entity
accounts · AA
2024-07-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-21
capital-allotment-shares
capital · SH01
2023-07-13
accounts-with-accounts-type-micro-entity
accounts · AA
2023-07-11
confirmation-statement-with-updates
confirmation-statement · CS01
2023-06-26
accounts-with-accounts-type-micro-entity
accounts · AA
2022-08-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-06-02