LANCSMAN LIMITED

🌳Matureactive
SC430707 · ltd · incorporated 2012-08-20
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 2024
Net worth
book net assets
Opportunity
73/100
Strong
🔔
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What this business does
Primary activity: SIC 03110
Sector: Agriculture, forestry & fishing
ALSO REGISTERED FOR
  • 64201Activities of agricultural holding companies
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 73/100 (strong), bankability 75/100. Strong seller-intent signal (63/100, director aged 66). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Resolve: 1 insolvency-related filing on record. Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding. Most likely exit: share sale to pe / searcher (65/100).

Data confidence

Overall: medium (78/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, 2 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
7 officers (4 active, 7 linked, 4 with DOB)
81
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
60 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
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
67
Some moderate concerns — review flags.
Signal strength
90
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
Net Worth
Current Assets
Current Liabilities
£0£0£0£0£0£0Sept 2023Sept 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-09-302023-09-30
Average employees300300

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 (27 events)Click to expand
  1. 2025-03-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-04-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-11-27
    📄
    capital-statement-capital-company-with-date-currency-figure
    capital · SH19
  4. 2023-11-27
    ⚠️
    legacy
    insolvency · CAP-SS
  5. 2023-11-27
    📄
    legacy
    capital · SH20
  6. 2023-11-27
    📄
    resolution
    resolution · RESOLUTIONS
  7. 2023-06-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2022-08-25
    📄
    change-person-director-company-with-change-date
    officers · CH01
  9. 2022-08-25
    📄
    change-person-director-company-with-change-date
    officers · CH01
  10. 2022-05-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-06-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2021-04-06
    📄
    change-corporate-secretary-company-with-change-date
    officers · CH04
  13. 2020-06-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2019-07-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2018-08-27
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  16. 2018-06-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2013-12-09
    LINDSAYS LLP appointed
    corporate-secretary
  18. 2013-12-09
    HBJG SECRETARIAL LIMITED resigned
    corporate-secretary
  19. 2012-12-13
    BUSCHINI, Adam John appointed
    director
  20. 2012-12-13
    BUSCHINI, Victor Ralph appointed
    director
  21. 2012-12-13
    RICHARDSON, Alison appointed
    director
  22. 2012-12-13
    ALMOND, Deborah Jane resigned
    director
  23. 2012-12-13
    HBJG LIMITED resigned
    corporate-director
  24. 2012-08-20
    🏢
    Company incorporated
    As LANCSMAN LIMITED
  25. 2012-08-20
    HBJG SECRETARIAL LIMITED appointed
    corporate-secretary
  26. 2012-08-20
    ALMOND, Deborah Jane appointed
    director
  27. 2012-08-20
    HBJG LIMITED appointed
    corporate-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
  • +Founder age: Director aged approximately 66 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

63/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 66. Approaching typical UK retirement age — succession thinking likely.
  • secondary12+ year tenure: Director in role 13 years.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 high ·
1 insolvency-related filing on record
high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2023-11-27: legacy

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Victor Ralph Buschini
Individual · British · DOB 06/1960 · age 66
5075%
50-75% shares06/04/2016
1 historic (ceased) PSC
  • Adam Buschiniceased 31/05/2016· 50-75% shares

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
Incorporated2012-08-20
Jurisdictionscotland
Primary SIC03110 — SIC 03110

Registered office

Caledonian Exchange
19a Canning Street
Edinburgh
EH3 8HE

Filing status

Accounts
Next due: 2026-06-30
Last made up to: 2024-09-30
Confirmation statement
Next due: 2026-09-03
Last: 2025-08-20

Officers (4 active · 3 resigned)

LINDSAYS LLP
corporate-secretary · appointed 2013-12-09
View their other companies + combined net worth →
Active
BUSCHINI, Adam John
director · ~57y · appointed 2012-12-13
View their other companies + combined net worth →
Active
BUSCHINI, Victor Ralph
director · ~66y · appointed 2012-12-13
View their other companies + combined net worth →
Active
RICHARDSON, Alison
director · ~63y · appointed 2012-12-13
View their other companies + combined net worth →
Active
HBJG SECRETARIAL LIMITED
corporate-secretary · appointed 2012-08-20 · resigned 2013-12-09
Resigned
ALMOND, Deborah Jane
director · ~61y · appointed 2012-08-20 · resigned 2012-12-13
Resigned
HBJG LIMITED
corporate-director · appointed 2012-08-20 · resigned 2012-12-13
Resigned

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

Recent filings (60 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-08-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-03-03
confirmation-statement-with-updates
confirmation-statement · CS01
2024-08-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-04-25
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2023-11-27
legacy
insolvency · CAP-SS
2023-11-27
legacy
capital · SH20
2023-11-27
resolution
resolution · RESOLUTIONS
2023-11-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-08-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-06-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-08-25
change-person-director-company-with-change-date
officers · CH01
2022-08-25
change-person-director-company-with-change-date
officers · CH01
2022-08-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-05-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-08-23