NEREUS FISHING COMPANY LIMITED

🌳Matureactive
SC391285 · ltd · incorporated 2011-01-11
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.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
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
—
year to Dec 2024
Net worth
£-20.6k
book net assets
Opportunity
78/100
Strong
🔔
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What this business does
Primary activity: SIC 03110
Sector: Agriculture, forestry & fishing
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 78/100 (strong), bankability 85/100. Strong seller-intent signal (78/100, director aged 68). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -70% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

4 live charges · oldest 13.5y

45/100
under pressure

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

  • · Oldest live charge is 13.5 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 (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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
11 officers (2 active, 11 linked, 8 with DOB)
85
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
6 connected companies via shared directors
63
Filing history
66 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
75
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Negative net assets
Liabilities exceed assets by £20,632
Net assets shrinking
Down £175,707 YoY
Cash draining
Cash down 70% YoY
Cash YoY
-70%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£33k
↓ 70% YoY
Net Worth
-£21k
↓ 113% YoY
Current Assets
£35k
↓ 79% YoY
Current Liabilities
—
-£21k£16k£54k£91k£128k£165kDec 2023Dec 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-12-312023-12-31
Total assets£372.4k£648.3k
Current assets£34.6k£164.8k
Cash£32.8k£109.8k
Debtors£1.9k£55.0k
Net assets£-20.6k£155.1k

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
1
filing
  • • 1 confirmation-statement
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (45 events)Click to expand
  1. 2025-10-09
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  2. 2025-10-09
    🔓
    Charge satisfied #1
  3. 2025-10-08
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  4. 2025-10-08
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  5. 2025-10-08
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  6. 2025-10-08
    🔓
    Charge satisfied #4
  7. 2025-10-08
    🔓
    Charge satisfied #3
  8. 2025-10-08
    🔓
    Charge satisfied #2
  9. 2025-09-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  10. 2025-05-06
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  11. 2024-12-31
    ➖
    JACK, Terry Robert resigned
    director
  12. 2024-09-10
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  13. 2023-09-21
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  14. 2022-09-05
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  15. 2021-08-24
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  16. 2020-10-12
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  17. 2019-09-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  18. 2019-04-23
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  19. 2019-04-23
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  20. 2019-02-01
    ➕
    TAYLOR, Steven Noble appointed
    director
  21. 2019-02-01
    ➖
    MACKAY, George Hector resigned
    director
  22. 2019-01-16
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  23. 2019-01-16
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  24. 2018-01-16
    ➖
    MACKAY, George Hector resigned
    secretary
  25. 2017-03-31
    ➖
    PATIENCE, Stephen James resigned
    director
  26. 2015-12-01
    ➖
    MACLENNAN, William Graeme resigned
    director
  27. 2014-02-14
    🔒
    Charge registered #4
    Lender: The Royal Bank of Scotland PLC
  28. 2014-02-14
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  29. 2013-04-18
    ➖
    DOUGAL, Robert Ross resigned
    secretary
  30. 2013-04-18
    ➕
    MACKAY, George Hector appointed
    secretary
  31. 2013-02-08
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  32. 2013-01-04
    ➕
    DOWNIE, Gilbert appointed
    director
  33. 2012-11-30
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  34. 2012-08-24
    ➖
    WATT, John resigned
    director
  35. 2012-02-07
    ➕
    DOUGAL, Robert Ross appointed
    secretary
  36. 2012-02-07
    ➖
    MACKINNONS resigned
    corporate-secretary
  37. 2012-02-07
    ➕
    JACK, Terry Robert appointed
    director
  38. 2012-02-07
    ➖
    JONES, Graham Edward resigned
    director
  39. 2012-02-07
    ➕
    MACKAY, George Hector appointed
    director
  40. 2012-02-07
    ➕
    MACLENNAN, William Graeme appointed
    director
  41. 2012-02-07
    ➕
    PATIENCE, Stephen James appointed
    director
  42. 2012-02-07
    ➕
    WATT, John appointed
    director
  43. 2011-01-11
    🏢
    Company incorporated
    As NEREUS FISHING COMPANY LIMITED
  44. 2011-01-11
    ➕
    MACKINNONS appointed
    corporate-secretary
  45. 2011-01-11
    ➕
    JONES, Graham Edward appointed
    director

Owner dependency

73/100
High — earn-out structure required

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

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder age: Director aged approximately 68 — succession pressure is live.

Succession & seller-readiness

79/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 68. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 13 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

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️
Macduff Shipyards Ltd
Corporate parent · holds 25-50% shares
significant stake
🏛️
Denholm Fishselling Ltd
Corporate parent · holds 25-50% shares
significant stake
⬇
NEREUS FISHING COMPANY LIMITED
This company · SC391285

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Macduff Shipyards Ltd
Corporate entity
25–50%
—25-50% shares06/04/2016
Denholm Fishselling Ltd
Corporate entity
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 →

Similar companies

Active · Agriculture · IV postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
ASSYNT CROFTERS TRUST LIMITED→
SC140205 · est 1992
———333y8388y
BLUE MOTION FISHING CO. LIMITED→
SC357414 · est 2009
——£762.9k—17y8362y
BURGIE LODGE FARMS LIMITED→
SC031556 · est 1956
——£1.67M—70y8373y
CAWDOR FORESTRY LIMITED→
SC218848 · est 2001
——£468.9k—25y8364y
DINGWALL & HIGHLAND MARTS LIMITED→
SC154876 · est 1994
———3931y8381y
EASTER ROSS FARMERS LIMITED→
SC060125 · est 1976
———10049y8395y
GLENROSSAL LIMITED→
SC351176 · est 2008
——£2.77M—17y8388y
KINGSBURGH FOREST TRUST→
SC227429 · est 2002 · no financials extracted
————24y8375y
MJM (FARMERS) LIMITED→
SC288996 · est 2005
——£1.80M—20y8371y
STRATHNAIRN COMMUNITY WOODLANDS→
SC228026 · est 2002 · no financials extracted
————24y8371y
ACHLAIN ESTATES LIMITED→
SC138631 · est 1992
———20033y8267y
BRAHAN FARMS LIMITED→
SC048495 · est 1971
———40055y8284y
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
Incorporated2011-01-11
Jurisdictionscotland
Primary SIC03110 — SIC 03110

Registered office

Denholm Fishselling Ltd Unit 1-2
Old School
Cawdor
Nairn
IV12 5BL
Scotland

Filing status

Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-05-19
Last: 2026-05-05

Officers (2 active · 9 resigned)

DOWNIE, Gilbert→
director · ~68y · appointed 2013-01-04
View their other companies + combined net worth →
Active
TAYLOR, Steven Noble→
director · ~50y · appointed 2019-02-01
View their other companies + combined net worth →
Active
DOUGAL, Robert Ross→
secretary · appointed 2012-02-07 · resigned 2013-04-18
Resigned
MACKAY, George Hector→
secretary · appointed 2013-04-18 · resigned 2018-01-16
Resigned
MACKINNONS→
corporate-secretary · appointed 2011-01-11 · resigned 2012-02-07
Resigned
JACK, Terry Robert→
director · ~50y · appointed 2012-02-07 · resigned 2024-12-31
Resigned
JONES, Graham Edward→
director · ~61y · appointed 2011-01-11 · resigned 2012-02-07
Resigned
MACKAY, George Hector→
director · ~65y · appointed 2012-02-07 · resigned 2019-02-01
Resigned
MACLENNAN, William Graeme→
director · ~42y · appointed 2012-02-07 · resigned 2015-12-01
Resigned
PATIENCE, Stephen James→
director · ~55y · appointed 2012-02-07 · resigned 2017-03-31
Resigned
WATT, John→
director · ~70y · appointed 2012-02-07 · resigned 2012-08-24
Resigned

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

Mortgages & charges

4
Total charges
0
Outstanding
0
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property14/02/201408/10/2025
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property14/02/201408/10/2025
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Mortgage1 property08/02/201308/10/2025
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Floating charge1 property30/11/201209/10/2025

Recent filings (66 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-05-05
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-09
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-08
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-08
mortgage-satisfy-charge-full
mortgage · MR04
2025-10-08
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-09-30
confirmation-statement-with-updates
confirmation-statement · CS01
2025-05-06
termination-director-company-with-name-termination-date
officers · TM01
2025-05-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-25
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-09-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-11
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-09-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-24
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-09-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-17