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.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
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
—
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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 14.1y

45/100
under pressure

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

  • · Oldest live charge is 14.1 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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SC166906 · est 1996
£1.63M
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——640029y8476y
R.A.W.G. KERR LTD.→
SC277405 · est 2004
£313.0k
£234.7k–£391.2k
——321y8265y
BRUCE GROUP SCOTLAND LIMITED→
SC236976 · est 2002
——£409.4k—23y8360y
LION & UNICORN HOTEL LIMITED→
SC202210 · est 1999
———1526y8364y
LOCHSIDE COTTAGES LIMITED→
SC023268 · est 1945
——£263.0k—81y8369y
MONUMENT LEISURE PITTODRIE LIMITED→
SC368676 · est 2009
———420016y8376y
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SC312643 · est 2006
——£20.6k—19y8262y
BLUENOTE RESTAURANT LTD.→
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——£100.3k—29y8264y
CASTLE VIEW RETAIL LIMITED→
SC220895 · est 2001 · no financials extracted
————24y8265y
ECOSSE LEISURE LIMITED→
SC196518 · est 1999
———027y8273y
GJ ANDERSON LIMITED→
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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