THR NUMBER 11 LIMITED

🌳Matureactive

SC449233 · ltd · incorporated 2013-05-03

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

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 4.6y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: Activities of real estate investment trusts

Sector: Financial & insurance

Investor take

Pursue

Active trading company. Family succession underway — not a classic acquisition target.

Opportunity 80/100 (exceptional), bankability 80/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (73/100).

🏦

Refinance opportunity

3 live charges · oldest 4.6y

75/100

ready

Refinance conversation should be productive — structure clean and timing right.

· Charge age ~4.6 years — mid-life; refi window approaching.
· Single lender — cleanest path to refinance.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: medium (61/100)

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

Lenders & charges

3 charges (3/3 with lender, 3/3 with type)

Directors & officers

14 officers (5 active, 14 linked, 11 with DOB)

Ownership & PSC

1 active PSC(s) of 3 total, 3 with control declared

Director network

27 connected companies via shared directors

Filing history

71 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

80/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filing

• 1 confirmation-statement

Last 90 days

filings

• 1 confirmation-statement
• 1 accounts

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (47 events)Click to expand

2026-03-12
📄
accounts-with-accounts-type-full
accounts · AA
2025-06-15
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-06-15
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-06-04
➕
MACKENZIE, James Kenneth appointed
director
2025-06-04
➖
BLAND, Stanley Gordon resigned
director
2025-01-31
📄
accounts-with-accounts-type-full
accounts · AA
2024-03-22
📄
accounts-with-accounts-type-full
accounts · AA
2023-07-28
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-04-03
📄
accounts-with-accounts-type-full
accounts · AA
2022-03-30
📄
accounts-with-accounts-type-full
accounts · AA
2022-03-23
📄
change-corporate-secretary-company-with-change-date
officers · CH04
2022-03-23
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-11-01
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2021-11-01
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-10-15
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-10-13
📄
memorandum-articles
incorporation · MA
2021-10-13
📄
resolution
resolution · RESOLUTIONS
2021-10-13
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-10-13
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-10-12
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC (As Security Agent)
2021-10-06
🔒
Charge registered #3
Lender: The Royal Bank of Scotland PLC (As Security Agent)
2021-10-06
🔒
Charge registered #2
Lender: The Royal Bank of Scotland PLC (As Security Agent)
2021-06-21
📄
accounts-with-accounts-type-full
accounts · AA
2021-06-09
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2021-06-08
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2020-03-31
➖
CAMPBELL, Donald Alasdair resigned
director
2019-08-07
➕
TARGET FUND MANAGERS LIMITED appointed
corporate-secretary
2019-08-07
➖
MAITLAND ADMINISTRATION SERVICES (SCOTLAND) LIMITED resigned
corporate-secretary
2019-04-24
➕
BROWN, Andrew Stewart appointed
director
2019-04-24
➕
FLANNELLY, John Marcus appointed
director
2019-04-24
➕
MACKENZIE, Kenneth Macangus appointed
director
2019-04-24
➖
ANDREWS, June, Professor resigned
director
2019-04-24
➕
BLAND, Stanley Gordon appointed
director
2019-04-24
➕
CAMPBELL, Donald Alasdair appointed
director
2019-04-24
➖
COULL, Gordon Charles resigned
director
2019-04-24
➖
HUTCHISON III, Thomas J resigned
director
2019-04-24
➖
NAISH, Robert Malcolm resigned
director
2014-03-01
➕
MAITLAND ADMINISTRATION SERVICES (SCOTLAND) LIMITED appointed
corporate-secretary
2013-12-18
➖
DM COMPANY SERVICES LIMITED resigned
corporate-secretary
2013-12-18
➕
ANDREWS, June, Professor appointed
director
2013-12-18
➕
COULL, Gordon Charles appointed
director
2013-12-18
➖
GILCHRIST, Ewan Caldwell resigned
director
2013-12-18
➕
HUTCHISON III, Thomas J appointed
director
2013-12-18
➕
NAISH, Robert Malcolm appointed
director
2013-05-03
🏢
Company incorporated
As THR NUMBER 11 LIMITED
2013-05-03
➕
DM COMPANY SERVICES LIMITED appointed
corporate-secretary
2013-05-03
➕
GILCHRIST, Ewan Caldwell appointed
director

Owner dependency

63/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

-4 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 76 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

20/100

No succession signal

No meaningful acquirability indicators from public data.

SIGNALS

primaryFamily succession underway: Not a takeover target — MACKENZIE, James Kenneth (same surname) appointed 2025-06-04. Pattern consistent with intra-family handover.
primaryFounder aged 70+: Senior director is approximately 76 years old. Natural succession window is now.

Red flags

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

Thr Number One Plc is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Thr Number One Plc

Corporate parent

⬇

THR NUMBER 11 LIMITED

This company · SC449233

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Thr Number One Plc Corporate entity	—	75–100%	75-100% voting	05/10/2021

2 historic (ceased) PSCs

Target Healthcare Reit Plcceased 05/10/2021· 75-100% shares · 75-100% voting
Target Healthcare Reit Limitedceased 07/08/2019· 75-100% shares · 75-100% voting

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 →

Similar companies

Active · Financial services · FK postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
RUSSEL + AITKEN NOMINEES LIMITED→ SC052053 · est 1972	—	—	—	5	53y	83	69y
DENIS O. BROWN & ASSOCIATES LIMITED→ SC046416 · est 1969 · no financials extracted	—	—	—	—	57y	82	67y
FULCRUM INSURED EMPLOYEE BENEFITS LIMITED→ SC335390 · est 2007	—	—	£89.8k	—	18y	82	65y
GEORGE GILL FINANCIAL SERVICES LTD.→ SC299207 · est 2006	—	—	£110.3k	—	20y	82	61y
THE MORTGAGE DESK (SCOTLAND) LIMITED→ SC143635 · est 1993	—	—	—	—	33y	82	77y
A.R.D. CONSULTANCY LIMITED→ SC334089 · est 2007	—	—	—	900	18y	81	64y
ASSET & GENERAL FINANCE LTD→ SC308532 · est 2006	—	—	£1.6k	—	19y	81	63y
FRASER TENNANT FINANCIAL SOLUTIONS LIMITED→ SC249345 · est 2003 · no financials extracted	—	—	—	—	23y	81	61y
STRATEGIC INNOVATIVE FINANCE LTD.→ SC265516 · est 2004	—	—	£5.5k	—	22y	81	64y
ASM RECOVERY LIMITED→ SC340517 · est 2008	—	—	—	100	18y	80	65y
FALKIRK MORTGAGE ADVICE CENTRE (SCOTLAND) LTD→ SC358034 · est 2009	—	—	£16.8k	—	17y	80	59y
GT MORTGAGES LTD.→ SC298635 · est 2006	—	—	—	200	20y	80	67y

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.

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Company details

Statusactive

Typeltd

Incorporated2013-05-03

Jurisdictionscotland

Primary SIC64306 — Activities of real estate investment trusts

Registered office

1st Floor, Glendevon House

Castle Business Park

Stirling

FK9 4TZ

Scotland

Filing status

Accounts

Next due: 2027-03-31

Last made up to: 2025-06-30

Confirmation statement

Next due: 2027-05-17

Last: 2026-05-03