L PIA LIMITED
🌳Matureactive
SC446071 · ltd · incorporated 2013-03-26
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
—
not disclosed
Net worth
—
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: Licenced restaurants
Sector: Accommodation & food service
Investor take
PursueStrong opportunity: active trading company with strong profile and acceptable with review structure.
Opportunity 73/100 (strong), bankability 67/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
7 live charges · 3 lenders · oldest 10.7y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 10.7 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Legal-friction score 25/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (58/100)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
No iXBRL financials extracted
0
Lenders & charges
7 charges (7/7 with lender, 7/7 with type)
90
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
42 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
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
1
filing
- • 1 confirmation-statement
Last 180 days
1
filing
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
- 2025-09-03📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-12-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-12-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-12-14🔓Charge satisfied #5
- 2024-12-14🔓Charge satisfied #4
- 2024-12-14🔓Charge satisfied #3
- 2024-12-13📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-12-06🔒Charge registered #7Lender: The Royal Bank of Scotland PLC
- 2024-11-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-11-15🔒Charge registered #6Lender: The Royal Bank of Scotland PLC
- 2024-10-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-09-11📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-11-23📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-09-15📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-07-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-07-18🔓Charge satisfied #2
- 2022-07-01📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-06-30🔒Charge registered #5Lender: Allica Bank Limited
- 2022-06-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-06-27🔒Charge registered #4Lender: Allica Bank Limited
- 2022-06-22📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-06-22🔓Charge satisfied #1
- 2022-06-17📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-06-13🔒Charge registered #3Lender: Allica Bank Limited
- 2021-07-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-11-27📄second-filing-notification-of-a-person-with-significant-controlpersons-with-significant-control · RP04PSC01
- 2020-10-27📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2020-08-04📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-04-01➕PIA, Angela Assunta appointeddirector
- 2015-10-12🔒Charge registered #2Lender: Bank of Scotland PLC
- 2015-08-24🔒Charge registered #1Lender: Bank of Scotland PLC
- 2013-03-26🏢Company incorporatedAs L PIA LIMITED
- 2013-03-26➕PIA, Luigi appointeddirector
Owner dependency
63/100
High — earn-out structure requiredMaterial 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.
- +No director turnover: Company is 13 years old with no director changes — suggests a very tight-knit founder team never broadened.
Succession & seller-readiness
49/100
Moderate signalSome 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 13 years.
- 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
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mrs Angela Assunta Pia Individual · British,Italian · DOB 05/1987 · age 39 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 01/04/2018 |
Mr Luigi Pia Individual · British · DOB 12/1986 · age 40 | 25–50% | — | 25-50% shares | 06/04/2016 |
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.
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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
Incorporated2013-03-26
Jurisdictionscotland
Primary SIC56101 — Licenced restaurants
Registered office
72 74 Lothian Street
Bonnyrigg
Midlothian
EH19 3AQ
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-23
Last: 2026-03-09
Officers (2 active · 0 resigned)
PIA, Angela Assunta→
Activedirector · ~39y · appointed 2018-04-01
View their other companies + combined net worth →
Active
Click a director name to see their full track record across all companies.
Mortgages & charges
7
Total charges
2
Outstanding
1
Active lenders
Status:Lender:7 of 7 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | 1 property | 06/12/2024 | — | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | — | 15/11/2024 | — | |
| satisfied | Allica Bank Allica Bank Limited | A registered charge | 1 property | 30/06/2022 | 14/12/2024 | |
| satisfied | Allica Bank Allica Bank Limited | A registered charge | 1 property | 27/06/2022 | 14/12/2024 | |
| satisfied | Allica Bank Allica Bank Limited | A registered charge | — | 13/06/2022 | 14/12/2024 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 12/10/2015 | 18/07/2022 | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 24/08/2015 | 22/06/2022 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (42 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-09-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-28
mortgage-satisfy-charge-full
mortgage · MR04
2024-12-14
mortgage-satisfy-charge-full
mortgage · MR04
2024-12-14
mortgage-satisfy-charge-full
mortgage · MR04
2024-12-14
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-12-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-11-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-17
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-09-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-04-24
accounts-with-accounts-type-micro-entity
accounts · AA
2023-11-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-04-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-09-15
mortgage-satisfy-charge-full
mortgage · MR04
2022-07-18