NUCORE GROUP LTD.

📉Decliningactive
SC450189 · ltd · incorporated 2013-05-16
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
  • · Lifecycle stage drifting downward
  • · Currently "declining"
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
—
Upgrade to see
Turnover
—
year to May 2024
Net worth
—
book net assets
Opportunity
77/100
Strong
🔔
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What this business does
Primary activity: SIC 09100
Sector: Mining & quarrying
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 77/100 (strong), bankability 67/100. Strong seller-intent signal (73/100, director aged 65). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

10 live charges · 4 lenders · oldest 12.6y

25/100
too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

  • · Oldest live charge is 12.6 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 45/100 (high).

Data confidence

Overall: high (82/100)

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
10 charges (10/10 with lender, 10/10 with type)
90
Directors & officers
24 officers (4 active, 24 linked, 20 with DOB)
87
Ownership & PSC
2 active PSC(s) of 4 total, 4 with control declared
90
Director network
9 connected companies via shared directors
72
Filing history
128 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
77/100Strong
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
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Loss-making
Loss before tax £1,263,962
Slipped into loss
Moved from profit to loss this year

Key financials

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

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-05-312023-05-31
Turnover—£16.27M
Gross profit—£4.21M
Operating profit—£-2.67M
Profit before tax£-1.26M£8.57M
Average employees1320013400

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

5 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 (85 events)Click to expand
  1. 2025-07-14
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  2. 2025-07-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  3. 2025-06-26
    ➕
    SHARKEY, Colin Stuart appointed
    director
  4. 2025-06-26
    ➖
    MOORE, John resigned
    director
  5. 2025-02-19
    📄
    accounts-with-accounts-type-full
    accounts · AA
  6. 2024-01-18
    ➕
    STRUTHERS, Shaun appointed
    director
  7. 2024-01-18
    ➕
    MOORE, John appointed
    director
  8. 2024-01-18
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  9. 2024-01-18
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  10. 2023-12-20
    📄
    accounts-with-accounts-type-full
    accounts · AA
  11. 2023-07-19
    📄
    accounts-with-accounts-type-full
    accounts · AA
  12. 2023-05-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  13. 2023-05-29
    📍
    move-registers-to-registered-office-company-with-new-address
    address · AD04
  14. 2023-05-29
    📍
    change-sail-address-company-with-old-address-new-address
    address · AD02
  15. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  16. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  17. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  18. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  19. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  20. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  21. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  22. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  23. 2023-05-24
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  24. 2023-05-24
    🔓
    Charge satisfied #9
  25. 2023-05-24
    🔓
    Charge satisfied #8
  26. 2023-05-24
    🔓
    Charge satisfied #7
  27. 2023-05-24
    🔓
    Charge satisfied #6
  28. 2023-05-24
    🔓
    Charge satisfied #5
  29. 2023-05-24
    🔓
    Charge satisfied #4
  30. 2023-05-24
    🔓
    Charge satisfied #3
  31. 2023-05-24
    🔓
    Charge satisfied #2
  32. 2023-05-24
    🔓
    Charge satisfied #1
  33. 2023-05-23
    🔒
    Charge registered #10
    Lender: Igf Business Credit Limited
  34. 2022-02-24
    📄
    accounts-with-accounts-type-full
    accounts · AA
  35. 2022-02-08
    ➖
    BROWN, Alexander James resigned
    director
  36. 2022-02-08
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  37. 2021-08-18
    ➖
    FRASER, Mark William resigned
    director
  38. 2021-08-16
    ➕
    BRYANT, Michael Thomas appointed
    director
  39. 2021-06-01
    ➖
    FINEGAN, Ross Arthur resigned
    secretary
  40. 2021-06-01
    ➖
    GASPARRO, David resigned
    director
  41. 2020-06-12
    ➖
    FORBES, Gareth Thomas resigned
    director
  42. 2019-07-25
    ➕
    FORBES, Gareth Thomas appointed
    director
  43. 2019-05-14
    ➖
    BELL, Russell resigned
    director
  44. 2019-05-14
    ➖
    STRUTHERS, Shaun resigned
    director
  45. 2019-02-25
    ➕
    WARD, Russell appointed
    director
  46. 2019-02-18
    ➖
    THOMSON, Graham resigned
    director
  47. 2019-02-13
    ➖
    WILSON, Alan James Stark resigned
    director
  48. 2018-07-04
    ➕
    FRASER, Mark William appointed
    director
  49. 2018-04-27
    ➖
    SKIDMORE, Robert William resigned
    director
  50. 2017-01-13
    🔒
    Charge registered #9
    Lender: Glas Trust Corporation Limited as Security Agent
Showing most recent 50 of 85 events

Owner dependency

55/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS
  • -4 active directors: Broader management team in place — suggests transferable governance.
  • +Founder age: Director aged approximately 65 — succession pressure is live.

Succession & seller-readiness

50/100
Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 65. Approaching typical UK retirement age — succession thinking likely.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️
Beechbrook Private Debt Iii General Partner Limited
Corporate parent
🏛️
Nucore Group Holdings Limited
Corporate parent · board control
⬇
NUCORE GROUP LTD.
This company · SC450189

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

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Nucore Group Holdings Limited
Corporate entity
—75–100%board control75-100% voting · board control01/06/2021
Beechbrook Private Debt Iii General Partner Limited
Corporate entity
——sig. influencesignificant influence01/06/2021
2 historic (ceased) PSCs
  • Natwest Fis Nominees Limitedceased 30/09/2021· 75-100% shares
  • Natwest Fis Nominees Limitedceased 01/06/2021· 75-100% 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

9 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
Incorporated2013-05-16
Jurisdictionscotland
Primary SIC09100 — SIC 09100

Registered office

Unit 4c The Core, Berryhill Crescent
Bridge Of Don
Aberdeen
AB23 8AN

Filing status

Accounts
Next due: 2026-05-31
Last made up to: 2024-05-31
Confirmation statement
Next due: 2026-05-23
Last: 2025-05-09

Officers (4 active · 20 resigned)

BRYANT, Michael Thomas→
director · ~64y · appointed 2021-08-16
View their other companies + combined net worth →
Active
SHARKEY, Colin Stuart→
director · ~55y · appointed 2025-06-26
View their other companies + combined net worth →
Active
STRUTHERS, Shaun→
director · ~59y · appointed 2024-01-18
View their other companies + combined net worth →
Active
WARD, Russell→
director · ~65y · appointed 2019-02-25
View their other companies + combined net worth →
Active
FINEGAN, Ross Arthur→
secretary · appointed 2013-10-23 · resigned 2021-06-01
Resigned
D.W. COMPANY SERVICES LIMITED→
corporate-secretary · appointed 2013-05-16 · resigned 2013-10-23
Resigned
BELL, Russell→
director · ~61y · appointed 2015-05-21 · resigned 2019-05-14
Resigned
BROWN, Alexander James→
director · ~71y · appointed 2013-10-23 · resigned 2022-02-08
Resigned
EVANS, Benjamin Russell→
director · ~49y · appointed 2013-10-01 · resigned 2013-10-23
Resigned
FINEGAN, Ross Arthur→
director · ~57y · appointed 2013-10-01 · resigned 2013-10-23
Resigned
FORBES, Gareth Thomas→
director · ~53y · appointed 2019-07-25 · resigned 2020-06-12
Resigned
FRASER, Mark William→
director · ~46y · appointed 2018-07-04 · resigned 2021-08-18
Resigned
GASPARRO, David→
director · ~61y · appointed 2013-10-23 · resigned 2021-06-01
Resigned
HOGARTY, William→
director · ~70y · appointed 2013-10-23 · resigned 2016-05-15
Resigned
LOCKHART, Colin John→
director · ~65y · appointed 2015-05-21 · resigned 2016-05-15
Resigned
MOORE, John→
director · ~58y · appointed 2024-01-18 · resigned 2025-06-26
Resigned
ROSE, Kenneth Charles→
director · ~63y · appointed 2013-05-16 · resigned 2013-10-01
Resigned
SKIDMORE, Robert William→
director · ~65y · appointed 2013-10-23 · resigned 2018-04-27
Resigned
STRUTHERS, Shaun→
director · ~59y · appointed 2015-05-21 · resigned 2019-05-14
Resigned
THAIN, Angela→
director · ~47y · appointed 2015-05-21 · resigned 2016-05-15
Resigned

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

Mortgages & charges

10
Total charges
1
Outstanding
1
Active lenders
Status:Lender:10 of 10 shown
TypeProperties
outstanding
Igf Business Credit
Igf Business Credit Limited
A registered charge—23/05/2023—
satisfied
Glas Trust Corporation as Security Agent
Glas Trust Corporation Limited as Security Agent
A registered charge—13/01/201724/05/2023
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property21/05/201524/05/2023
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property21/05/201524/05/2023
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property21/05/201524/05/2023
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property21/05/201524/05/2023
satisfied
Lonsdale Capital Partners
Lonsdale Capital Partners LLP
A registered charge—21/05/201524/05/2023
satisfied
Lonsdale Capital Partners
Lonsdale Capital Partners LLP
A registered charge1 property23/10/201324/05/2023
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge—23/10/201324/05/2023
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property23/10/201324/05/2023
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (128 total)

termination-director-company-with-name-termination-date
officers · TM01
2025-07-14
appoint-person-director-company-with-name-date
officers · AP01
2025-07-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-09
accounts-with-accounts-type-full
accounts · AA
2025-02-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-06-17
appoint-person-director-company-with-name-date
officers · AP01
2024-01-18
appoint-person-director-company-with-name-date
officers · AP01
2024-01-18
accounts-with-accounts-type-full
accounts · AA
2023-12-20
accounts-with-accounts-type-full
accounts · AA
2023-07-19
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-05-30
confirmation-statement-with-updates
confirmation-statement · CS01
2023-05-29
move-registers-to-registered-office-company-with-new-address
address · AD04
2023-05-29
change-sail-address-company-with-old-address-new-address
address · AD02
2023-05-29
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-24
mortgage-satisfy-charge-full
mortgage · MR04
2023-05-24