TORBREX INNS LIMITED

💤Zombieactive
SC409422 · ltd · incorporated 2011-10-14
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£214.3k
book net assets
Opportunity
79/100
Strong
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What this business does
Primary activity: Public houses and bars
Sector: Accommodation & food service
Investor take
Pursue
Active trading company with a 69-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 80/100. Strong seller-intent signal (68/100, director aged 69). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -56% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 14.0y

45/100
under pressure

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

  • · Oldest live charge is 14.0 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

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, 1 with DOB)
80
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
5 connected companies via shared directors
60
Filing history
32 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
70
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 · FRS 102
Positive net assets
Net assets £214,330
Net assets shrinking
Down £6,747 YoY
Cash draining
Cash down 56% YoY
Cash YoY
-56%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£15k
↓ 56% YoY
Net Worth
£214k
↓ 3.1% YoY
Current Assets
£78k
↓ 24% YoY
Current Liabilities
—
£0£44k£88k£133k£177k£221kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Total assets£216.1k£227.1k
Current assets£78.0k£102.5k
Cash£15.5k£34.9k
Debtors£51.0k£56.1k
Net assets£214.3k£221.1k

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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (19 events)Click to expand
  1. 2025-08-19
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2024-09-19
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2023-12-29
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  4. 2022-11-25
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  5. 2021-12-22
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  6. 2021-03-31
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  7. 2021-03-24
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  8. 2019-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2018-12-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2017-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2016-12-22
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  12. 2016-03-10
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  13. 2015-12-30
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2015-10-20
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2014-12-23
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2012-05-14
    🔒
    Charge registered #1
    Lender: Tennent Caledonian Breweries UK Limited
  17. 2011-10-14
    🏢
    Company incorporated
    As TORBREX INNS LIMITED
  18. 2011-10-14
    ➕
    HENDERSON, Michelle appointed
    secretary
  19. 2011-10-14
    ➕
    HENDERSON, Ross appointed
    director

Owner dependency

95/100
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
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Founder age: Director aged approximately 69 — 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

78/100
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 69. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • 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 Ross Henderson
Individual · British · DOB 02/1957 · age 69
25–50%
—25-50% shares06/04/2016
Mrs Michelle Henderson
Individual · British · DOB 06/1968 · age 58
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

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
Incorporated2011-10-14
Jurisdictionscotland
Primary SIC56302 — Public houses and bars

Registered office

10-12 Airthrey Road
Stirling
FK9 5JR
Scotland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-10-28
Last: 2025-10-14

Officers (2 active · 0 resigned)

HENDERSON, Michelle→
secretary · appointed 2011-10-14
View their other companies + combined net worth →
Active
HENDERSON, Ross→
director · ~69y · appointed 2011-10-14
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
Tennent Caledonian Breweries UK
Tennent Caledonian Breweries UK Limited
Standard security1 property14/05/2012—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (32 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-23
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-08-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-22
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-09-19
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-12-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-01
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-11-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-11-09
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-19
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-03-31
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-03-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-01-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-10-29