APPLETREE (FORFAR) LIMITED

🌳Matureactive
SC388969 · ltd · incorporated 2010-11-17
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
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 14.5y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£5.6k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Take-away food shops and mobile food stands
Sector: Accommodation & food service
Investor take
Pursue
Active trading company with a 71-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (83/100, director aged 71). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 14.5y

85/100
ready

Refinance conversation should be productive — structure clean and timing right.

  • · Oldest live charge is 14.5 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Legal-friction score 15/100 — clean.

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
75
Lenders & charges
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
40 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
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
80
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 £5,643
Net assets shrinking
Down £13,437 YoY

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£6k
↓ 70% YoY
Current Assets
£31k
↓ 41% YoY
Current Liabilities
—
£0£10k£21k£31k£42k£52kMar 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£14.2k£31.3k
Current assets£30.6k£52.1k
Net assets£5.6k£19.1k

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
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (19 events)Click to expand
  1. 2026-03-25
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-12-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-12-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2023-11-28
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  5. 2022-12-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2021-12-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2021-03-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2019-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2018-12-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2017-12-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2017-11-07
    📄
    change-person-director-company-with-change-date
    officers · CH01
  12. 2017-11-07
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  13. 2017-03-21
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2016-12-21
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  15. 2016-03-14
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 2011-11-21
    🔒
    Charge registered #1
    Lender: Hsbc Bank PLC
  17. 2010-11-17
    🏢
    Company incorporated
    As APPLETREE (FORFAR) LIMITED
  18. 2010-11-17
    ➕
    REHMAT, Afzal Ali appointed
    director
  19. 2010-11-17
    ➕
    SMART, Audrey appointed
    director

Owner dependency

88/100
Critical — business is the founder

The 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.
  • +Long-tenure founder: Senior director has been in place 15 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 71 — succession pressure is live.
  • +No director turnover: Company is 15 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

89/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 71 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 15 years.
  • secondaryStable-but-static management: Company is 15 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
NameSharesVoting rightsNature of controlNotified
Audrey Smart
Individual · British · DOB 02/1955 · age 71
50–75%
—50-75% shares06/04/2016
Afzal Ali Rehmat
Individual · British · DOB 06/1967 · age 59
25–50%
—25-50% shares06/04/2016

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
Incorporated2010-11-17
Jurisdictionscotland
Primary SIC56103 — Take-away food shops and mobile food stands

Registered office

137 Dundee Road
Forfar
DD8 1JD
Scotland

Filing status

Accounts
Next due: 2026-12-29
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-05
Last: 2026-02-19

Officers (2 active · 0 resigned)

REHMAT, Afzal Ali→
director · ~59y · appointed 2010-11-17
View their other companies + combined net worth →
Active
SMART, Audrey→
director · ~71y · appointed 2010-11-17
View their other companies + combined net worth →
Active

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
HSBC
Hsbc Bank PLC
Floating charge1 property21/11/2011—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (40 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-26
accounts-with-accounts-type-micro-entity
accounts · AA
2026-03-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-04
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-21
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-19
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-11-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-22
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-19
confirmation-statement-with-updates
confirmation-statement · CS01
2022-03-03
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-22
accounts-with-accounts-type-micro-entity
accounts · AA
2021-03-29
confirmation-statement-with-updates
confirmation-statement · CS01
2021-02-26
confirmation-statement-with-updates
confirmation-statement · CS01
2020-03-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-12-17