VAULT CITY BREWING LTD.
💤Zombieactive
SC585380 · ltd · incorporated 2018-01-11
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 Mar 2025
Net worth
—
book net assets
Opportunity
71/100
Strong
What this business does
Primary activity: Manufacture of beer
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with strong profile and acceptable with review structure.
Opportunity 71/100 (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. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
5 live charges · 4 lenders · oldest 5.8y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 5.8 years old — likely at or near maturity.
- · 4 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: medium (73/100)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
1 connected companies via shared directors
48
Filing history
46 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
65
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
1 year extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-03-31 |
|---|---|
| Average employees | 35 |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
🔒Filing-note intelligence
2 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
1
filing
- • 1 confirmation-statement
Last 180 days
2
filings
- • 1 confirmation-statement
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (32 events)Click to expand
- 2025-12-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-05-15📄capital-variation-of-rights-attached-to-sharescapital · SH10
- 2025-05-15📄memorandum-articlesincorporation · MA
- 2025-05-15📄capital-name-of-class-of-sharescapital · SH08
- 2025-05-14📄resolutionresolution · RESOLUTIONS
- 2025-05-14📄resolutionresolution · RESOLUTIONS
- 2025-04-11📄capital-variation-of-rights-attached-to-sharescapital · SH10
- 2025-04-11📄capital-name-of-class-of-sharescapital · SH08
- 2025-04-09📄memorandum-articlesincorporation · MA
- 2025-04-09📄resolutionresolution · RESOLUTIONS
- 2025-03-18📄accounts-amended-with-accounts-type-total-exemption-fullaccounts · AAMD
- 2025-03-18📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-03-14🔒Charge registered #5Lender: Bank of Scotland PLC
- 2025-02-06📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-01-20🔒Charge registered #4Lender: Bank of Scotland PLC
- 2025-01-13📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-10-29📄change-person-director-company-with-change-dateofficers · CH01
- 2024-10-29📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2024-10-22📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-07-02📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-03-25📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-03-20🔒Charge registered #3Lender: Lloyds Bank Commercial Finance Limited
- 2024-03-18📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-03-18🔓Charge satisfied #2
- 2023-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-09-12🔒Charge registered #2Lender: Clydesdale Bank PLC (Trading as Virgin Money) (Company Number SC001111)
- 2022-08-17🔓Charge satisfied #1
- 2020-07-13🔒Charge registered #1Lender: Advantedge Commercial Finance (North) Limited
- 2020-06-06➖HORN, Jonathan resigneddirector
- 2018-01-11🏢Company incorporatedAs VAULT CITY BREWING LTD.
- 2018-01-11➕SMITH-HAY, Steven Robert appointeddirector
- 2018-01-11➕HORN, Jonathan 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
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
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Steven Robert Smith-Hay Individual · Scottish · DOB 02/1991 · age 35 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 11/01/2018 |
1 historic (ceased) PSC
- Mr Jonathan Hornceased 08/09/2020· 25-50% shares · 25-50% 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 · Food & drink · EH postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| HAMLYNS OF SCOTLAND LIMITED→ SC176949 · est 1997 | £99.9k £73.6k–£126.2k | £27.47M | — | 5400 | 28y | 86 | 80y |
| SUMMERHALL DISTILLERY LIMITED→ SC460003 · est 2013 · no financials extracted | — | — | — | — | 12y | — | — |
| THE BREADWINNER BAKERY LTD.→ SC403111 · est 2011 · no financials extracted | — | — | — | — | 14y | — | — |
| THE CHOCOLATE TREE LIMITED→ SC303502 · est 2006 · no financials extracted | — | — | — | — | 19y | — | — |
| THE EDINBURGH ICE COMPANY LIMITED→ SC541419 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| THE MALTED GULL LTD→ SC878727 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| THE SCOTCH MALT WHISKY SOCIETY LIMITED→ SC083022 · est 1983 · no financials extracted | — | — | — | — | 42y | — | — |
| THE WHISPERING KETTLE LIMITED→ SC855377 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| TURKISH BAKERY 2024 LTD→ SC819898 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| VERGECOSSE LIMITED→ SC298348 · est 2006 · no financials extracted | — | — | — | — | 20y | — | — |
| VH CPK LTD→ SC800048 · est 2024 · no financials extracted | — | — | — | — | 2y | — | — |
| VISTA HARVEST GENERAL TRADING LIMITED→ SC828556 · est 2024 · no financials extracted | — | — | — | — | 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
Incorporated2018-01-11
Jurisdictionscotland
Primary SIC11050 — Manufacture of beer
Registered office
5 South Gyle Crescent Lane
Edinburgh
EH12 9EG
Scotland
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-01-24
Last: 2026-01-10
Officers (1 active · 1 resigned)
SMITH-HAY, Steven Robert→
Activedirector · ~35y · appointed 2018-01-11
View their other companies + combined net worth →
HORN, Jonathan→
Resigneddirector · ~38y · appointed 2018-01-11 · resigned 2020-06-06
Click a director name to see their full track record across all companies.
Mortgages & charges
5
Total charges
3
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 14/03/2025 | — | |
| outstanding | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 20/01/2025 | — | |
| outstanding | Lloyds Banking Group Lloyds Bank Commercial Finance Limited | A registered charge | — | 20/03/2024 | — | |
| satisfied | Virgin Money Clydesdale Bank PLC (Trading as Virgin Money) (Company Number SC001111) | A registered charge | — | 12/09/2022 | 18/03/2024 | |
| satisfied | Advantedge Commercial Finance (North) Advantedge Commercial Finance (North) Limited | A registered charge | — | 13/07/2020 | 17/08/2022 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (46 total)
confirmation-statement-with-updates
confirmation-statement · CS01
2026-03-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-23
capital-variation-of-rights-attached-to-shares
capital · SH10
2025-05-15
memorandum-articles
incorporation · MA
2025-05-15
capital-name-of-class-of-shares
capital · SH08
2025-05-15
resolution
resolution · RESOLUTIONS
2025-05-14
resolution
resolution · RESOLUTIONS
2025-05-14
capital-variation-of-rights-attached-to-shares
capital · SH10
2025-04-11
capital-name-of-class-of-shares
capital · SH08
2025-04-11
memorandum-articles
incorporation · MA
2025-04-09
resolution
resolution · RESOLUTIONS
2025-04-09
accounts-amended-with-accounts-type-total-exemption-full
accounts · AAMD
2025-03-18
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-03-18
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-02-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-27