NORSEPHARM LIMITED

🌳Matureactive
SC354920 · ltd · incorporated 2009-02-11
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.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£862.2k
book net assets
Opportunity
83/100
Exceptional
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What this business does
Primary activity: Dispensing chemist in specialised stores
Sector: Wholesale & retail
Investor take
Pursue
Strong opportunity: active trading company with exceptional profile and bankable structure.

Opportunity 83/100 (exceptional), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -44% 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 13.7y

45/100
under pressure

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

  • · Oldest live charge is 13.7 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 (83/100)

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
5 officers (3 active, 5 linked, 5 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
52 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
83/100Exceptional
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
85
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 · accounting standard not declared
Positive net assets
Net assets £862,228
Cash draining
Cash down 44% YoY
Cash YoY
-44%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£85k
↓ 44% YoY
Net Worth
£862k
↑ 8.5% YoY
Current Assets
£721k
↑ 27% YoY
Current Liabilities
—
£0£172k£345k£517k£690k£862kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£1.48M£816.0k
Current assets£720.9k£566.7k
Cash£84.9k£151.5k
Debtors£494.6k£263.2k
Net assets£862.2k£795.0k

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
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2025-12-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-03-26
    ➕
    STOUT, Ellen Anne appointed
    director
  3. 2025-03-26
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  4. 2024-12-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2023-11-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-11-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-12-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2020-12-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2020-02-11
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2020-02-01
    ➕
    MAY, Rebecca Jane appointed
    director
  11. 2019-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2019-05-21
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  13. 2018-12-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2017-12-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2016-12-23
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2016-03-10
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  17. 2016-03-10
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  18. 2016-03-01
    ➖
    JOHNSON, Alexander James resigned
    director
  19. 2013-04-25
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  20. 2012-09-14
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  21. 2012-08-01
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  22. 2010-08-23
    ➕
    CLYDE, Torquil appointed
    director
  23. 2009-03-24
    ➖
    LONG, Kenneth Burnie resigned
    director
  24. 2009-02-11
    🏢
    Company incorporated
    As NORSEPHARM LIMITED
  25. 2009-02-11
    ➕
    JOHNSON, Alexander James appointed
    director
  26. 2009-02-11
    ➕
    LONG, Kenneth Burnie appointed
    director

Owner dependency

68/100
High — earn-out structure required

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

FACTORS
  • +Long-tenure founder: Senior director has been in place 16 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 61 — approaching natural succession window.

Succession & seller-readiness

53/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
  • secondary12+ year tenure: Director in role 16 years.
  • 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
NameSharesVoting rightsNature of controlNotified
Ms Rebecca Jane May
Individual · British · DOB 11/1965 · age 61
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
Mr Torquil Clyde
Individual · British · DOB 11/1966 · age 60
25–50%
25–50%board control25-50% shares · 25-50% voting · board control · firm interest06/04/2016

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 →

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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
Incorporated2009-02-11
Jurisdictionscotland
Primary SIC47730 — Dispensing chemist in specialised stores

Registered office

43 43 Victoria Street
Kirkwall
Orkney Islands
KW15 1DN
United Kingdom

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-10-18
Last: 2025-10-04

Officers (3 active · 2 resigned)

CLYDE, Torquil→
director · ~60y · appointed 2010-08-23
View their other companies + combined net worth →
Active
MAY, Rebecca Jane→
director · ~61y · appointed 2020-02-01
View their other companies + combined net worth →
Active
STOUT, Ellen Anne→
director · ~30y · appointed 2025-03-26
View their other companies + combined net worth →
Active
JOHNSON, Alexander James→
director · ~70y · appointed 2009-02-11 · resigned 2016-03-01
Resigned
LONG, Kenneth Burnie→
director · ~63y · appointed 2009-02-11 · resigned 2009-03-24
Resigned

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

Mortgages & charges

3
Total charges
3
Outstanding
1
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property25/04/2013—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property14/09/2012—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
Floating charge1 property01/08/2012—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (52 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-17
appoint-person-director-company-with-name-date
officers · AP01
2025-03-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-02-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-12-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-02-11
appoint-person-director-company-with-name-date
officers · AP01
2020-02-11