FRS FOOD LTD
💤Zombieactive
SC526258 · ltd · incorporated 2016-02-08
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 Jan 2025
Net worth
£-40.5k
book net assets
Opportunity
75/100
Strong
What this business does
Primary activity: Unlicenced restaurants and cafes
Sector: Accommodation & food service
ALSO REGISTERED FOR
- 56103Take-away food shops and mobile food stands
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 75/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -74% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: distressed disposal / insolvency (65/100).
🏦
Refinance opportunity
2 live charges · 2 lenders · oldest 9.4y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 9.4 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: high (80/100)Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.
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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
3 officers (1 active, 3 linked, 3 with DOB)
90
Ownership & PSC
1 active PSC(s) of 4 total, 4 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
39 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
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
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredNegative net assets
Liabilities exceed assets by £40,510
Cash draining
Cash down 74% YoY
Cash YoY
-74%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£4k
↓ 74% YoY
Net Worth
-£41k
↓ 194% YoY
Current Assets
£7k
↓ 59% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-01-31 | 2024-01-31 |
|---|---|---|
| Total assets | £-14.9k | £14.7k |
| Current assets | £7.1k | £17.4k |
| Cash | £3.6k | £13.9k |
| Debtors | £2.0k | £2.0k |
| Net assets | £-40.5k | £-13.8k |
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
1
filing
- • 1 confirmation-statement
Last 180 days
2
filings
- • 1 confirmation-statement
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (27 events)Click to expand
- 2026-01-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-10-18📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2024-10-18📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2024-05-04📄gazette-filings-brought-up-to-dategazette · DISS40
- 2024-04-30📄gazette-notice-compulsorygazette · GAZ1
- 2024-01-19📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-06-06📄mortgage-satisfy-charge-fullmortgage · MR04
- 2023-06-06🔓Charge satisfied #1
- 2023-05-12➖PATERSON, Allan James resigneddirector
- 2023-05-12📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2023-05-12📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-05-12📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-01-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-01-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-04-14📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2021-04-14📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2021-04-14📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2021-02-01➕PATERSON, Ian appointeddirector
- 2021-02-01📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-01-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-06-30➖PATERSON, Ian resigneddirector
- 2019-05-26🔒Charge registered #2Lender: Hsbc UK Bank PLC
- 2019-01-31➕PATERSON, Ian appointeddirector
- 2016-12-01🔒Charge registered #1Lender: Bank of Scotland PLC
- 2016-02-08🏢Company incorporatedAs FRS FOOD LTD
- 2016-02-08➕PATERSON, Allan James appointeddirector
Owner dependency
75/100
High — earn-out structure requiredMaterial 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
45/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Ian Paterson Individual · British · DOB 07/1974 · age 52 | 75–100% | — | 75-100% shares | 18/10/2024 |
3 historic (ceased) PSCs
- Mrs Isobel Patersonceased 18/10/2024· 75-100% shares
- Mr Ian Patersonceased 12/05/2023· 75-100% shares
- Mr Allan James Patersonceased 01/02/2021· 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 →Similar companies
Active · Hospitality · AB postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| GRAMPIAN FOODIE LIMITED→ SC642992 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| GRANITE CITY APARTMENTS LTD→ SC647764 · est 2019 · no financials extracted | — | — | — | — | 6y | — | — |
| GRANITE PUB PARTNERSHIPS LTD→ SC786486 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| GRUB & GO (ABERDEEN) LTD→ SC864667 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| HA KEBAB LTD→ SC845550 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| HARBOUR HOSTEL LTD→ SC882432 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| HE'S GOLDEN HOUSE LIMITED→ SC477811 · est 2014 · no financials extracted | — | — | — | — | 11y | — | — |
| HTRICO LIMITED→ SC770808 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| HUNTLY CHIP SHOP LTD→ SC613531 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| HUNTLY TANDOORI ABERDEEN LTD→ SC806667 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| HUNTLYELI LTD→ SC808513 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| I & L TURRIFF LTD→ SC509600 · est 2015 · no financials extracted | — | — | — | — | 10y | — | — |
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
Incorporated2016-02-08
Jurisdictionscotland
Primary SIC56102 — Unlicenced restaurants and cafes
Registered office
1 Glenbervie Road
Aberdeen
AB11 9JD
Scotland
Filing status
Accounts
Next due: 2026-10-31
Last made up to: 2025-01-31
Confirmation statement
Next due: 2027-02-21
Last: 2026-02-07
Officers (1 active · 2 resigned)
PATERSON, Ian→
Activedirector · ~52y · appointed 2021-02-01
View their other companies + combined net worth →
PATERSON, Allan James→
Resigneddirector · ~47y · appointed 2016-02-08 · resigned 2023-05-12
PATERSON, Ian→
Resigneddirector · ~52y · appointed 2019-01-31 · resigned 2019-06-30
Click a director name to see their full track record across all companies.
Mortgages & charges
2
Total charges
1
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | HSBC Hsbc UK Bank PLC | A registered charge | 1 property | 26/05/2019 | — | |
| satisfied | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 01/12/2016 | 06/06/2023 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (39 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-01-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-31
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2024-10-18
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-10-18
gazette-filings-brought-up-to-date
gazette · DISS40
2024-05-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-05-03
gazette-notice-compulsory
gazette · GAZ1
2024-04-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-19
mortgage-satisfy-charge-full
mortgage · MR04
2023-06-06
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2023-05-12
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-05-12
termination-director-company-with-name-termination-date
officers · TM01
2023-05-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-13