SEA SPRAY FISHING LTD

💤Zombieactive
SC465004 · ltd · incorporated 2013-12-02
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.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2025
Net worth
—
book net assets
Opportunity
71/100
Strong
🔔
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What this business does
Primary activity: SIC 03110
Sector: Agriculture, forestry & fishing
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 71/100 (strong), bankability 70/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

5 live charges · oldest 12.0y

45/100
under pressure

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

  • · Oldest live charge is 12.0 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (71/100)

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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
2 officers (1 active, 2 linked, 2 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
35 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
71/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
60
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
82
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

1 year extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-06-30
Average employees100

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

🔒Filing-note intelligence

1 signal 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
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2025-10-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  2. 2025-10-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  3. 2025-10-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2025-09-29
    🔒
    Charge registered #4
    Lender: The Royal Bank of Scotland PLC
  5. 2025-09-28
    🔒
    Charge registered #5
    Lender: The Royal Bank of Scotland PLC
  6. 2025-09-23
    📄
    change-account-reference-date-company-previous-extended
    accounts · AA01
  7. 2024-08-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2023-03-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2022-03-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-09-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2020-12-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  12. 2020-12-30
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  13. 2020-12-16
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  14. 2020-12-16
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  15. 2020-12-07
    📄
    change-person-director-company-with-change-date
    officers · CH01
  16. 2020-11-09
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  17. 2020-11-09
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  18. 2020-11-09
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  19. 2020-11-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2020-10-23
    ➖
    MCDOUGALL, Alexander resigned
    director
  21. 2019-09-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  22. 2019-01-16
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  23. 2014-05-13
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  24. 2013-12-02
    🏢
    Company incorporated
    As SEA SPRAY FISHING LTD
  25. 2013-12-02
    ➕
    ELLIOTT, Callum appointed
    director
  26. 2013-12-02
    ➕
    MCDOUGALL, Alexander appointed
    director

Owner dependency

75/100
High — earn-out structure required

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

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

58/100
Strong succession signal

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

SIGNALS
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 12 years.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 low
5 live charges
low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Callum Elliott
Individual · British · DOB 12/1985 · age 41
75–100%
75–100%75-100% shares · 75-100% voting06/04/2016
1 historic (ceased) PSC
  • Mr Alexander Mcdougallceased 23/10/2020· 25-50% shares · 25-50% voting

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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————18y8384y
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——£2.65M—31y8373y
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——£521.7k—16y8258y
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————15y——
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————5y——
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———————
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————2y——
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————1y——
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
Incorporated2013-12-02
Jurisdictionscotland
Primary SIC03110 — SIC 03110

Registered office

The Old Surgery
School Road
Tarbert
Argyll
PA29 6UL
Scotland

Filing status

Accounts
Next due: 2027-03-31
Last made up to: 2025-06-30
Confirmation statement
Next due: 2026-12-16
Last: 2025-12-02

Officers (1 active · 1 resigned)

ELLIOTT, Callum→
director · ~41y · appointed 2013-12-02
View their other companies + combined net worth →
Active
MCDOUGALL, Alexander→
director · ~70y · appointed 2013-12-02 · resigned 2020-10-23
Resigned

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

Mortgages & charges

5
Total charges
5
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property29/09/2025—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property28/09/2025—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property16/12/2020—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge1 property16/12/2020—
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge—13/05/2014—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (35 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-12-15
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-10-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-10-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-01
change-account-reference-date-company-previous-extended
accounts · AA01
2025-09-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-08-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-12-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-03-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-12-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-03-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-12-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-28
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-12-30
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-12-30