LSM SUBSEA SERVICES LTD.

🌳Matureactive
SC407715 · ltd · incorporated 2011-09-20
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 Sept 2025
Net worth
£86.0k
book net assets
Opportunity
74/100
Strong
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What this business does
Primary activity: Other professional, scientific and technical activities n.e.c.
Sector: Professional, scientific & technical
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

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. Most likely exit: share sale to pe / searcher (58/100).

Data confidence

Overall: medium (77/100)

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
5 officers (2 active, 5 linked, 4 with DOB)
86
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
40 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
Positive net assets
Net assets £86,047
Cash YoY
-16%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£75k
↓ 16% YoY
Net Worth
£86k
↑ 32% YoY
Current Assets
£92k
↑ 3.3% YoY
Current Liabilities
—
£0£18k£37k£55k£74k£92kSept 2024Sept 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-09-302024-09-30
Total assets£95.5k£65.2k
Current assets£92.0k£89.0k
Cash£74.7k£89.0k
Debtors£17.3k—
Net assets£86.0k£65.2k

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
0
filings
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
  1. 2025-11-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-01-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-10-02
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  4. 2024-10-02
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  5. 2024-05-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-07-05
    📄
    accounts-amended-with-accounts-type-total-exemption-full
    accounts · AAMD
  7. 2023-05-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2022-05-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2021-04-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2020-03-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2019-04-20
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  12. 2019-01-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2018-02-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2016-12-20
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2016-02-18
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2011-09-20
    🏢
    Company incorporated
    As LSM SUBSEA SERVICES LTD.
  17. 2011-09-20
    ➕
    MORRISON, Lorraine appointed
    director
  18. 2011-09-20
    ➕
    MORRISON, Steve appointed
    director
  19. 2011-09-20
    ➕
    TRAINER, Peter appointed
    nominee-secretary
  20. 2011-09-20
    ➖
    TRAINER, Peter resigned
    nominee-secretary
  21. 2011-09-20
    ➕
    MCINTOSH, Susan appointed
    director
  22. 2011-09-20
    ➖
    MCINTOSH, Susan resigned
    director
  23. 2011-09-20
    ➕
    TRAINER, Peter appointed
    nominee-director
  24. 2011-09-20
    ➖
    TRAINER, Peter resigned
    nominee-director

Owner dependency

66/100
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.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

49/100
Moderate signal

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

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • secondary12+ year tenure: Director in role 15 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
Mr Steve Morrison
Individual · British · DOB 01/1972 · age 54
50–75%
50–75%board control50-75% shares · 50-75% voting · board control01/07/2016
Mrs Lorraine Morrison
Individual · British · DOB 10/1975 · age 51
25–50%
25–50%25-50% shares · 25-50% voting02/10/2024

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

6 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
Incorporated2011-09-20
Jurisdictionscotland
Primary SIC74909 — Other professional, scientific and technical activities n.e.c.

Registered office

Auchenbrae Farmhouse Auchenbrae Farmhouse
Tarryblake, Rothiemay
Huntly
AB54 7PD
Scotland

Filing status

Accounts
Next due: 2027-06-30
Last made up to: 2025-09-30
Confirmation statement
Next due: 2026-10-04
Last: 2025-09-20

Officers (2 active · 3 resigned)

MORRISON, Lorraine→
director · ~51y · appointed 2011-09-20
View their other companies + combined net worth →
Active
MORRISON, Steve→
director · ~54y · appointed 2011-09-20
View their other companies + combined net worth →
Active
TRAINER, Peter→
nominee-secretary · appointed 2011-09-20 · resigned 2011-09-20
Resigned
MCINTOSH, Susan→
director · ~56y · appointed 2011-09-20 · resigned 2011-09-20
Resigned
TRAINER, Peter→
nominee-director · ~74y · appointed 2011-09-20 · resigned 2011-09-20
Resigned

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

Recent filings (40 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-11-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-01-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-02
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-10-02
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2024-10-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-31
confirmation-statement-with-updates
confirmation-statement · CS01
2023-09-20
accounts-amended-with-accounts-type-total-exemption-full
accounts · AAMD
2023-07-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-22
confirmation-statement-with-updates
confirmation-statement · CS01
2022-10-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-05-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-04-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-09-23