ANNANDALE DISTILLERY COMPANY LIMITED
🌳Matureactive
SC316346 · ltd · incorporated 2007-02-12
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.
Why now
Window steady · low confidence
Steady and tidy — no seller pressure yet. Approach only if an angle opens.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
- · Thesis: well-run, low negotiation leverage
What changed my view
Last 30 days
No material changes in the last 30 days.
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
—
not disclosed
Net worth
—
book net assets
Opportunity
78/100
Strong
What this business does
Primary activity: SIC 11010
Sector: Manufacturing
Investor take
PursueActive trading company with a 72-year-old founder — textbook succession opportunity.
Opportunity 78/100 (strong), bankability 67/100. Strong seller-intent signal (63/100, director aged 72). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
11 live charges · 7 lenders · oldest 19.2y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 19.2 years old — likely at or near maturity.
- · 7 lenders named — inter-creditor friction likely.
- · Legal-friction score 40/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (60/100)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
No iXBRL financials extracted
0
Lenders & charges
11 charges (11/11 with lender, 11/11 with type)
90
Directors & officers
9 officers (3 active, 9 linked, 4 with DOB)
79
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
17 connected companies via shared directors
90
Filing history
92 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
69
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
2
filings
- • 2 officers
Last 180 days
3
filings
- • 2 officers
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (56 events)Click to expand
- 2026-04-24📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2026-04-24📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-03-31➖ROGERS, Christopher resignedsecretary
- 2026-03-31➖ROGERS, Christopher resigneddirector
- 2026-01-06📄accounts-with-accounts-type-fullaccounts · AA
- 2025-01-15📄accounts-with-accounts-type-fullaccounts · AA
- 2024-10-30📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2024-05-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-05-20🔓Charge satisfied #8
- 2023-12-20📄accounts-with-accounts-type-smallaccounts · AA
- 2023-07-25📄change-person-director-company-with-change-dateofficers · CH01
- 2023-07-25📄change-person-director-company-with-change-dateofficers · CH01
- 2023-05-31📄mortgage-alter-floating-charge-with-numbermortgage · 466(Scot)
- 2023-05-31📄mortgage-alter-floating-charge-with-numbermortgage · 466(Scot)
- 2023-05-31📄mortgage-alter-floating-charge-with-numbermortgage · 466(Scot)
- 2023-05-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-05-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2023-05-16🔒Charge registered #11Lender: Hsbc UK Bank PLC (Company Number 09928412)
- 2023-05-16🔒Charge registered #10Lender: Hsbc Invoice Finance (UK) Limited (Company Number 00759657)
- 2023-03-10📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2023-03-10📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-03-09📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-03-09🔓Charge satisfied #5
- 2022-12-30📄accounts-with-accounts-type-smallaccounts · AA
- 2022-10-04📄change-person-director-company-with-change-dateofficers · CH01
- 2022-10-04📄change-person-director-company-with-change-dateofficers · CH01
- 2022-10-04📄change-person-director-company-with-change-dateofficers · CH01
- 2020-02-03🔓Charge satisfied #9
- 2020-02-03🔓Charge satisfied #6
- 2019-04-30🔓Charge satisfied #4
- 2015-10-20🔒Charge registered #9Lender: Centric Spv 1 Limited
- 2015-10-20🔒Charge registered #8Lender: Hsbc Bank PLC
- 2015-09-01➕SONDUR, Seshagiri appointeddirector
- 2015-09-01➕ROGERS, Christopher appointeddirector
- 2015-06-05🔒Charge registered #7Lender: Hsbc Bank PLC
- 2014-04-01🔓Charge satisfied #2
- 2014-04-01🔓Charge satisfied #1
- 2013-08-19🔒Charge registered #6Lender: Trustees of Mmr Limited Small Self Administered Scheme
- 2013-02-01➖MORRIS, John Graham resignedsecretary
- 2013-02-01➕ROGERS, Christopher appointedsecretary
- 2012-09-05🔒Charge registered #5Lender: The Scottish Ministers
- 2012-09-01🔓Charge satisfied #3
- 2012-03-16🔒Charge registered #4Lender: Centric Spv 1 Limited
- 2008-02-26🔒Charge registered #3Lender: Barclays Bank PLC
- 2007-09-24➕MORRIS, John Graham appointedsecretary
- 2007-09-24➖WITT, Anthony David resignedsecretary
- 2007-05-02🔒Charge registered #2Lender: Barclays Bank PLC
- 2007-04-01➕CHURCH, Teresa Carol appointeddirector
- 2007-03-22🔒Charge registered #1Lender: Barclays Bank PLC
- 2007-02-12🏢Company incorporatedAs ANNANDALE DISTILLERY COMPANY LIMITED
Showing most recent 50 of 56 events
Owner dependency
75/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Long-tenure founder: Senior director has been in place 19 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 72 — succession pressure is live.
Succession & seller-readiness
83/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 72 years old. Natural succession window is now.
- 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
2 med ·2 director resignations in last 12 months
mediumMultiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.
Evidence: ROGERS, Christopher resigned 2026-03-31; ROGERS, Christopher resigned 2026-03-31
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
Mathematical Market Research Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Mathematical Market Research Limited
Corporate parent · holds 75-100% shares
⬇
ANNANDALE DISTILLERY COMPANY LIMITED
This company · SC316346
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mathematical Market Research Limited Corporate entity | 75–100% | — | 75-100% shares | 10/03/2023 |
1 historic (ceased) PSC
- Prof David Marshall Hall Thomsonceased 10/03/2023· 75-100% shares
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 · Food & drink · DG postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| VIVERS SCOTLAMB LIMITED→ SC340007 · est 2008 | £1.43M £1.05M–£1.80M | — | — | 70 | 18y | 76 | 60y |
| WEST COAST SEA PRODUCTS LIMITED→ SC048969 · est 1971 · no financials extracted | — | — | — | — | 54y | 83 | 65y |
| BARONY COUNTRY FOODS LTD.→ SC181901 · est 1998 | — | — | £72.4k | — | 28y | 82 | 67y |
| TASTE THE SEA LIMITED→ SC188344 · est 1998 | — | — | — | 0 | 27y | 82 | 71y |
| BROWNS MANUFACTURING LIMITED→ SC105710 · est 1987 · no financials extracted | — | — | — | — | 38y | 80 | 62y |
| IRVINGS HOMESTYLE BAKERY LIMITED→ SC261301 · est 2003 | — | — | £804.3k | — | 22y | 80 | 88y |
| LACTALIS MCLELLAND LIMITED→ SC014583 · est 1927 · no financials extracted | — | — | — | — | 99y | 80 | 64y |
| CALEDONIAN PETFOODS LIMITED→ SC363194 · est 2009 | — | — | — | 2700 | 16y | 79 | 66y |
| DARK SKY SPIRITS LTD→ SC576266 · est 2017 | — | — | — | 800 | 8y | 79 | 67y |
| JOHN GILLESPIE & SONS. LIMITED→ SC015983 · est 1930 | — | — | — | 1900 | 96y | 79 | 87y |
| THE COCOA BEAN COMPANY LIMITED→ SC285798 · est 2005 | — | — | — | 3600 | 21y | 79 | 60y |
| FINLAY'S FARM LTD→ SC558749 · est 2017 | — | — | — | 8 | 9y | 78 | 71y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated2007-02-12
Jurisdictionscotland
Primary SIC11010 — SIC 11010
Registered office
Annandale Distillery
Northfield
Annan
Dumfriesshire
DG12 5LL
Filing status
Accounts
Next due: 2026-12-30
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-11-09
Last: 2025-10-26
Officers (3 active · 6 resigned)
CHURCH, Teresa Carol→
Activedirector · ~67y · appointed 2007-04-01
View their other companies + combined net worth →
SONDUR, Seshagiri→
Activedirector · ~44y · appointed 2015-09-01
View their other companies + combined net worth →
THOMSON, David Marshall Hall, Prof→
Activedirector · ~72y · appointed 2007-02-12
View their other companies + combined net worth →
MORRIS, John Graham→
Resignedsecretary · appointed 2007-09-24 · resigned 2013-02-01
ROGERS, Christopher→
Resignedsecretary · appointed 2013-02-01 · resigned 2026-03-31
WITT, Anthony David→
Resignedsecretary · appointed 2007-02-12 · resigned 2007-09-24
EUROLIFE SECRETARIES LIMITED→
Resignedcorporate-secretary · appointed 2007-02-12 · resigned 2007-02-12
ROGERS, Christopher→
Resigneddirector · ~60y · appointed 2015-09-01 · resigned 2026-03-31
EUROLIFE DIRECTORS LIMITED→
Resignedcorporate-director · appointed 2007-02-12 · resigned 2007-02-12
Click a director name to see their full track record across all companies.
Mortgages & charges
11
Total charges
3
Outstanding
1
Active lenders
Status:Lender:11 of 11 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | HSBC Hsbc UK Bank PLC (Company Number 09928412) | A registered charge | — | 16/05/2023 | — | |
| outstanding | HSBC Hsbc Invoice Finance (UK) Limited (Company Number 00759657) | A registered charge | — | 16/05/2023 | — | |
| satisfied | Centric Spv 1 Centric Spv 1 Limited | A registered charge | 1 property | 20/10/2015 | 03/02/2020 | |
| satisfied | HSBC Hsbc Bank PLC | A registered charge | 1 property | 20/10/2015 | 20/05/2024 | |
| outstanding | HSBC Hsbc Bank PLC | A registered charge | 1 property | 05/06/2015 | — | |
| satisfied | Trustees of Mmr Small Self Administered Scheme Trustees of Mmr Limited Small Self Administered Scheme | A registered charge | 1 property | 19/08/2013 | 03/02/2020 | |
| satisfied | The Scottish Ministers | Standard security | 1 property | 05/09/2012 | 09/03/2023 | |
| satisfied | Centric Spv 1 Centric Spv 1 Limited | Bond & floating charge | 1 property | 16/03/2012 | 30/04/2019 | |
| satisfied | Barclays Barclays Bank PLC | Standard security | 1 property | 26/02/2008 | 01/09/2012 | |
| satisfied | Barclays Barclays Bank PLC | Standard security | 1 property | 02/05/2007 | 01/04/2014 | |
| satisfied | Barclays Barclays Bank PLC | Floating charge | 1 property | 22/03/2007 | 01/04/2014 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (92 total)
termination-secretary-company-with-name-termination-date
officers · TM02
2026-04-24
termination-director-company-with-name-termination-date
officers · TM01
2026-04-24
accounts-with-accounts-type-full
accounts · AA
2026-01-06
confirmation-statement-with-updates
confirmation-statement · CS01
2025-10-27
accounts-with-accounts-type-full
accounts · AA
2025-01-15
confirmation-statement-with-updates
confirmation-statement · CS01
2024-10-30
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2024-10-30
mortgage-satisfy-charge-full
mortgage · MR04
2024-05-20
accounts-with-accounts-type-small
accounts · AA
2023-12-20
confirmation-statement-with-updates
confirmation-statement · CS01
2023-10-31
change-person-director-company-with-change-date
officers · CH01
2023-07-25
change-person-director-company-with-change-date
officers · CH01
2023-07-25
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2023-05-31
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2023-05-31
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2023-05-31