GAM STUART LIMITED
🌳Matureactive
SC346785 · ltd · incorporated 2008-08-08
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Nov 2024
Net worth
£835.7k
book net assets
Opportunity
68/100
Strong
What this business does
Primary activity: Dispensing chemist in specialised stores
Sector: Wholesale & retail
Investor take
PursueActive trading company. Reasonable fundamentals — worth a memo before deciding.
Opportunity 68/100 (strong), bankability 57/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
24 live charges · 4 lenders · oldest 17.4y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 17.4 years old — likely at or near maturity.
- · 4 lenders named — inter-creditor friction likely.
- · Cashflow trend is negative — lender view likely cautious.
Data confidence
Overall: high (81/100)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
75
Lenders & charges
24 charges (24/24 with lender, 24/24 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 2 with DOB)
80
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
9 connected companies via shared directors
72
Filing history
98 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
68/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
60
Adequate — check latest filings for context.
Acquirability
60
Some acquirability indicators.
Risk profile
66
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £835,710
Cash YoY
-39%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£757k
↓ 39% YoY
Net Worth
£836k
↑ 27% YoY
Current Assets
£3.6m
↓ 8.9% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-11-30 | 2023-11-30 |
|---|---|---|
| Total assets | £6.50M | £5.94M |
| Current assets | £3.62M | £3.98M |
| Cash | £756.7k | £1.25M |
| Debtors | £2.47M | £2.27M |
| Net assets | £835.7k | £658.9k |
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
0
filings
Last 180 days
19
filings
- • 19 mortgage
Counts from Companies House filing history.
Corporate timeline (69 events)Click to expand
- 2026-01-29📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-29🔓Charge satisfied #14
- 2026-01-23📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2026-01-22🔒Charge registered #24Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #23Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #22Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #21Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #20Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #19Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #18Lender: Hsbc UK Bank PLC
- 2026-01-22🔒Charge registered #17Lender: Hsbc UK Bank PLC
- 2026-01-21📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-21📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-21🔓Charge satisfied #15
- 2026-01-21🔓Charge satisfied #3
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-20🔒Charge registered #16Lender: Hsbc UK Bank PLC
- 2026-01-20🔓Charge satisfied #13
- 2026-01-20🔓Charge satisfied #12
- 2026-01-20🔓Charge satisfied #11
- 2026-01-20🔓Charge satisfied #10
- 2026-01-20🔓Charge satisfied #9
- 2026-01-20🔓Charge satisfied #7
- 2026-01-20🔓Charge satisfied #6
- 2025-08-28📄accounts-with-accounts-type-groupaccounts · AA
- 2024-11-07📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-11-06📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-11-06🔒Charge registered #15Lender: Bank of Scotland PLC
- 2024-11-05🔒Charge registered #14Lender: Bank of Scotland PLC
- 2024-08-30📄accounts-with-accounts-type-groupaccounts · AA
- 2023-11-27🔓Charge satisfied #5
- 2021-09-08🔒Charge registered #13Lender: Bank of Scotland PLC
- 2019-09-16🔓Charge satisfied #8
- 2019-08-01🔒Charge registered #12Lender: Bank of Scotland PLC
- 2018-08-29🔓Charge satisfied #2
- 2018-07-26🔒Charge registered #11Lender: Bank of Scotland PLC
Showing most recent 50 of 69 events
Owner dependency
83/100
Critical — business is the founderThe 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.
- +Founder name in company name: Company name contains director surname "STUART" — strong identity link between founder and business.
- +Long-tenure founder: Senior director has been in place 18 years — deep operational knowledge concentrated in one person.
Succession & seller-readiness
59/100
Strong succession signalMultiple 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.
- secondary12+ year tenure: Director in role 18 years.
- secondaryStable-but-static management: Company is 18 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 · 1 low9 new charges in last 12 months
mediumHeavy recent charge activity can indicate refinancing pressure, aggressive leverage, or multiple lender rotation.
Evidence: 2026-01-22: A registered charge; 2026-01-22: A registered charge; 2026-01-22: A registered charge
Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
9 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Arvinder Singh Bilon Individual · British · DOB 05/1981 · age 45 | 25–50% | 25–50% | board controlsig. influence25-50% shares · 25-50% voting · board control · significant influence | 06/04/2016 |
Mr Gordon Stuart Individual · British · DOB 08/1979 · age 47 | 25–50% | 25–50% | board controlsig. influence25-50% shares · 25-50% voting · board control · significant influence | 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.
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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
Incorporated2008-08-08
Jurisdictionscotland
Primary SIC47730 — Dispensing chemist in specialised stores
Registered office
19a Graham Street
Edinburgh
Lothian
EH6 5QN
Filing status
Accounts
Next due: 2026-08-31
Last made up to: 2024-11-30
Confirmation statement
Next due: 2026-08-22
Last: 2025-08-08
Officers (2 active · 2 resigned)
BILON, Arvinder Singh→
Activedirector · ~45y · appointed 2009-04-22
View their other companies + combined net worth →
STUART, Gordon Alexander Mcleod→
Activedirector · ~47y · appointed 2008-08-08
View their other companies + combined net worth →
ABERGAN REED NOMINEES LIMITED→
Resignedcorporate-secretary · appointed 2008-08-08 · resigned 2008-08-08
ABERGAN REED LTD→
Resignedcorporate-director · appointed 2008-08-08 · resigned 2008-08-08
Click a director name to see their full track record across all companies.
Mortgages & charges
24
Total charges
9
Outstanding
1
Active lenders
Status:Lender:24 of 24 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 22/01/2026 | — | |
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 20/01/2026 | — | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 06/11/2024 | 21/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 05/11/2024 | 29/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 08/09/2021 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 01/08/2019 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 26/07/2018 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 18/10/2017 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 18/10/2017 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 15/07/2016 | 16/09/2019 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 15/07/2016 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 08/06/2016 | 20/01/2026 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 20/01/2016 | 27/11/2023 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 02/07/2014 | 21/03/2017 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 25/06/2014 | 21/01/2026 | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 09/05/2012 | 29/08/2018 | |
| satisfied | Lloyds Banking Group Royal Bank of Scotland PLC | Floating charge | 1 property | 16/12/2008 | 25/07/2014 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (98 total)
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-23
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-21
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-21
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-20
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-20
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-20