THISTLE STREET PROPERTIES LIMITED

🌳Matureactive

SC312791 · ltd · incorporated 2006-11-30

Investment thesis

Property vehicle with leveraged stack — refinance / partial-release angle.

Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.

Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Aug 2025

Net worth

£327.7k

book net assets

Opportunity

83/100

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

Property-backed borrower with a 61-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 61). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -88% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

3 live charges · oldest 19.4y

45/100

under pressure

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

· Oldest live charge is 19.4 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 1 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

3 charges (3/3 with lender, 3/3 with type)

Directors & officers

7 officers (3 active, 7 linked, 4 with DOB)

Ownership & PSC

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

Director network

5 connected companies via shared directors

Filing history

52 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒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

83/100Exceptional

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

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 £327,692

Cash draining

Cash down 88% YoY

Cash YoY

-88%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£17k

↓ 88% YoY

Net Worth

£328k

↑ 5.1% YoY

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-08-31	2024-08-31
Cash	£16.7k	£138.9k
Net assets	£327.7k	£311.8k

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

filing

• 1 accounts

Last 90 days

filing

• 1 accounts

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (31 events)Click to expand

2026-05-12
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-28
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-29
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-06-02
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-05-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-25
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-05-19
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-03-15
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-04-23
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2017-04-06
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2016-06-22
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2016-06-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2016-06-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2016-05-27
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2015-07-02
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2015-06-01
➖
SHERWOOD, Irene Helen resigned
director
2015-06-01
➖
SHERWOOD, William resigned
director
2015-06-01
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2008-01-22
🔒
Charge registered #3
Lender: Clydesdale Bank Public Limited Company
2007-01-12
🔒
Charge registered #2
Lender: Clydesdale Bank Public Limited Company
2006-12-20
🔒
Charge registered #1
Lender: Clydesdale Bank Public Limited Company
2006-11-30
🏢
Company incorporated
As THISTLE STREET PROPERTIES LIMITED
2006-11-30
➕
MCGOWAN, Linda Ann appointed
secretary
2006-11-30
➕
MCGOWAN, Linda Ann appointed
director
2006-11-30
➕
MUNRO, Craig Galloway appointed
director
2006-11-30
➕
HOGG JOHNSTON SECRETARIES LTD. appointed
corporate-secretary
2006-11-30
➖
HOGG JOHNSTON SECRETARIES LTD. resigned
corporate-secretary
2006-11-30
➕
SHERWOOD, Irene Helen appointed
director
2006-11-30
➕
SHERWOOD, William appointed
director
2006-11-30
➕
HOGG JOHNSTON DIRECTORS LTD. appointed
corporate-director
2006-11-30
➖
HOGG JOHNSTON DIRECTORS LTD. resigned
corporate-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 19 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 61 — approaching natural succession window.

Succession & seller-readiness

69/100

Strong succession signal

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

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
secondary12+ year tenure: Director in role 19 years.
secondaryStable-but-static management: Company is 19 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
Linda Ann Mcgowan Individual · Scottish · DOB 12/1966 · age 60	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016
Mr Craig Galloway Munro Individual · Scottish · DOB 11/1965 · age 61	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016

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

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TABASS LTD.→ SC222547 · est 2001 · no financials extracted	—	—	—	—	24y	—	—
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THT MCBEY LTD→ SC569422 · est 2017 · no financials extracted	—	—	—	—	8y	—	—
TIGH PROPERTIES LIMITED→ SC724676 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
TIME4 PROPERTY SERVICES LIMITED→ SC792734 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
TORLUNDIE PROPERTY HOLDINGS LTD→ SC847457 · est 2025 · no financials extracted	—	—	—	—	—	—	—
TROUBADOUR MANAGEMENT LIMITED→ SC755847 · est 2023 · no financials extracted	—	—	—	—	3y	—	—
TYRONE PETROLEUM CONSULTANTS LIMITED→ SC141414 · est 1992 · no financials extracted	—	—	—	—	33y	—	—
UBH INVESTMENTS LTD→ SC856839 · est 2025 · no financials extracted	—	—	—	—	—	—	—
UCM PROPERTY DEVELOPMENT LTD→ SC572775 · est 2017 · no financials extracted	—	—	—	—	8y	—	—

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

Incorporated2006-11-30

Jurisdictionscotland

Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

33 Monearn Gardens

Milltimber

Aberdeenshire

AB13 0DX

Scotland

Filing status

Accounts

Next due: 2027-05-31

Last made up to: 2025-08-31

Confirmation statement

Next due: 2026-06-14

Last: 2025-05-31

Officers (3 active · 4 resigned)

MCGOWAN, Linda Ann→

secretary · appointed 2006-11-30

View their other companies + combined net worth →

Active

MCGOWAN, Linda Ann→

director · ~60y · appointed 2006-11-30

View their other companies + combined net worth →

Active

MUNRO, Craig Galloway→

director · ~61y · appointed 2006-11-30

View their other companies + combined net worth →

Active

HOGG JOHNSTON SECRETARIES LTD.→

corporate-secretary · appointed 2006-11-30 · resigned 2006-11-30

Resigned

SHERWOOD, Irene Helen→

director · ~76y · appointed 2006-11-30 · resigned 2015-06-01

Resigned

SHERWOOD, William→

director · ~80y · appointed 2006-11-30 · resigned 2015-06-01

Resigned

HOGG JOHNSTON DIRECTORS LTD.→

corporate-director · appointed 2006-11-30 · resigned 2006-11-30

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:3 of 3 shown

		Type	Properties
outstanding	Virgin Money Clydesdale Bank Public Limited Company	Standard security	1 property	22/01/2008	—
outstanding	Virgin Money Clydesdale Bank Public Limited Company	Standard security	1 property	12/01/2007	—
outstanding	Virgin Money Clydesdale Bank Public Limited Company	Floating charge	1 property	20/12/2006	—

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