FRINGE BY THE SEA LIMITED

💤Zombieactive
SC342965 · private-limited-guarant-nsc · incorporated 2008-05-15
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 Oct 2025
Net worth
£-52.6k
book net assets
Opportunity
74/100
Strong
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What this business does
Primary activity: Performing arts
Sector: Arts, entertainment & recreation
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 74/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: distressed disposal / insolvency (65/100).

Data confidence

Overall: medium (76/100)

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
Confirmed no charges registered
85
Directors & officers
9 officers (1 active, 9 linked, 5 with DOB)
81
Ownership & PSC
1 active PSC(s) of 5 total, 5 with control declared
90
Director network
Network not yet resolved
30
Filing history
74 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Negative net assets
Liabilities exceed assets by £52,584
Cash YoY
+136%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£24k
↑ 136% YoY
Net Worth
-£53k
↑ 1.5% YoY
Current Assets
£30k
↑ 31% YoY
Current Liabilities
—
-£53k-£37k-£20k-£3k£13k£30kOct 2024Oct 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-10-312024-10-31
Total assets£-30.5k£-25.6k
Current assets£29.8k£22.7k
Cash£24.2k£10.2k
Debtors£581£7.5k
Net assets£-52.6k£-53.4k

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

2 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
0
filings
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (35 events)Click to expand
  1. 2026-03-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-05-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-02-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-12-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-07-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-04-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2019-12-03
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  8. 2019-12-03
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  9. 2019-12-03
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  10. 2019-12-02
    ➖
    MIDDLETON, Niall resigned
    secretary
  11. 2019-12-02
    ➖
    MIDDLETON, Niall Jonathan resigned
    director
  12. 2019-11-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2019-10-29
    📄
    change-person-director-company-with-change-date
    officers · CH01
  14. 2019-07-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2019-03-11
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  16. 2018-12-04
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  17. 2018-08-11
    📄
    gazette-filings-brought-up-to-date
    gazette · DISS40
  18. 2018-08-10
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  19. 2018-08-10
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  20. 2018-02-12
    ➕
    STEEL, Rory David appointed
    director
  21. 2018-02-12
    ➕
    MIDDLETON, Niall appointed
    secretary
  22. 2018-02-12
    ➖
    THOMSON, Jane Carolyn resigned
    secretary
  23. 2018-02-12
    ➕
    MIDDLETON, Niall Jonathan appointed
    director
  24. 2018-02-12
    ➖
    SHAW, John De Winter resigned
    director
  25. 2018-02-12
    ➖
    THOMSON, Jane Carolyn resigned
    director
  26. 2018-02-12
    ➖
    WALES, Eric Stewart resigned
    director
  27. 2010-03-15
    ➕
    THOMSON, Jane Carolyn appointed
    secretary
  28. 2010-03-15
    ➖
    MORTON FRASER SECRETARIES LIMITED resigned
    corporate-secretary
  29. 2008-06-03
    ➖
    MORTON FRASER DIRECTORS LIMITED resigned
    corporate-director
  30. 2008-05-28
    ➕
    SHAW, John De Winter appointed
    director
  31. 2008-05-28
    ➕
    THOMSON, Jane Carolyn appointed
    director
  32. 2008-05-28
    ➕
    WALES, Eric Stewart appointed
    director
  33. 2008-05-15
    🏢
    Company incorporated
    As FRINGE BY THE SEA LIMITED
  34. 2008-05-15
    ➕
    MORTON FRASER SECRETARIES LIMITED appointed
    corporate-secretary
  35. 2008-05-15
    ➕
    MORTON FRASER DIRECTORS LIMITED appointed
    corporate-director

Owner dependency

75/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

55/100
Strong succession signal

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

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondaryStable-but-static management: Company is 18 years old and no new directors in the last 3 years — succession not yet being planned internally.

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
Rory David Steel
Individual · British · DOB 06/1973 · age 53
——sig. influencesignificant influence12/02/2018
4 historic (ceased) PSCs
  • Mr Niall Jonathan Middletonceased 02/12/2019· significant influence
  • Mr John De Winter Shawceased 12/02/2018· significant influence
  • Mrs Jane Carolyn Thomsonceased 12/02/2018· significant influence
  • Mr Eric Stewart Walesceased 12/02/2018· significant influence

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
Typeprivate-limited-guarant-nsc
Incorporated2008-05-15
Jurisdictionscotland
Primary SIC90010 — Performing arts

Registered office

The Lighthouse
Heugh Road
North Berwick
EH39 5PX
Scotland

Filing status

Accounts
Next due: 2027-07-31
Last made up to: 2025-10-31
Confirmation statement
Next due: 2026-05-29
Last: 2025-05-15

Officers (1 active · 8 resigned)

STEEL, Rory David→
director · ~53y · appointed 2018-02-12
View their other companies + combined net worth →
Active
MIDDLETON, Niall→
secretary · appointed 2018-02-12 · resigned 2019-12-02
Resigned
THOMSON, Jane Carolyn→
secretary · appointed 2010-03-15 · resigned 2018-02-12
Resigned
MORTON FRASER SECRETARIES LIMITED→
corporate-secretary · appointed 2008-05-15 · resigned 2010-03-15
Resigned
MIDDLETON, Niall Jonathan→
director · ~57y · appointed 2018-02-12 · resigned 2019-12-02
Resigned
SHAW, John De Winter→
director · ~74y · appointed 2008-05-28 · resigned 2018-02-12
Resigned
THOMSON, Jane Carolyn→
director · ~71y · appointed 2008-05-28 · resigned 2018-02-12
Resigned
WALES, Eric Stewart→
director · ~78y · appointed 2008-05-28 · resigned 2018-02-12
Resigned
MORTON FRASER DIRECTORS LIMITED→
corporate-director · appointed 2008-05-15 · resigned 2008-06-03
Resigned

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

Recent filings (74 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-05-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-05-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-05-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-04-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-05-15
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2019-12-03
termination-secretary-company-with-name-termination-date
officers · TM02
2019-12-03
termination-director-company-with-name-termination-date
officers · TM01
2019-12-03