THE MORTGAGE EXCHANGE LTD

💤Zombieactive
SC648401 · ltd · incorporated 2019-11-29
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 Nov 2024
Net worth
£35.1k
book net assets
Opportunity
72/100
Strong
🔔
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What this business does
Primary activity: Activities of mortgage finance companies
Sector: Financial & insurance
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

Opportunity 72/100 (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: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: strategic trade sale (65/100).

Data confidence

Overall: medium (78/100)

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
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
Confirmed no charges registered
85
Directors & officers
4 officers (1 active, 4 linked, 4 with DOB)
90
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
29 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
72/100Strong
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
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £35,145
Net assets shrinking
Down £197,585 YoY

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£35k
↓ 85% YoY
Current Assets
£194k
↑ 66% YoY
Current Liabilities
—
£0£47k£93k£140k£186k£233kNov 2023Nov 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-11-302023-11-30
Total assets£73.7k£121.3k
Current assets£194.1k£117.0k
Net assets£35.1k£232.7k

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

Recent activity

Last 30 days
1
filing
  • • 1 confirmation-statement
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (23 events)Click to expand
  1. 2025-08-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-08-30
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-10-14
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2022-09-22
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  5. 2022-09-21
    ➖
    PARK, Amanda resigned
    director
  6. 2022-05-03
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  7. 2022-04-28
    ➖
    COWAN, Garry resigned
    director
  8. 2022-04-27
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  9. 2022-04-21
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  10. 2022-04-21
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  11. 2022-03-23
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  12. 2022-02-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2021-08-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2021-05-05
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  15. 2020-08-12
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  16. 2020-03-05
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  17. 2020-03-02
    ➖
    HUGHES, David resigned
    director
  18. 2019-12-16
    📄
    change-person-director-company-with-change-date
    officers · CH01
  19. 2019-12-02
    ➕
    COWAN, Garry appointed
    director
  20. 2019-12-02
    ➕
    HUGHES, David appointed
    director
  21. 2019-11-29
    🏢
    Company incorporated
    As THE MORTGAGE EXCHANGE LTD
  22. 2019-11-29
    ➕
    CUTHBERTSON, Maria appointed
    director
  23. 2019-11-29
    ➕
    PARK, Amanda 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

45/100
Moderate signal

Some 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

clean
No 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
NameSharesVoting rightsNature of controlNotified
Ms Maria Cuthbertson
Individual · British · DOB 06/1976 · age 50
50–75%
—50-75% shares29/11/2019
2 historic (ceased) PSCs
  • Mr Garry Cowanceased 23/03/2022· 25-50% shares · 25-50% voting · board control
  • Ms Amanda Parkceased 23/03/2022· 25-50% shares

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

Similar companies

Active · Financial services · ML postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
ARDMORE FINANCIAL PLANNING LIMITED→
SC363882 · est 2009
———80016y8358y
THE MORTGAGE HUB LIMITED→
SC307419 · est 2006
——£390.2k—19y8359y
ARCHIBALD MACINNES AND COMPANY LIMITED→
SC031316 · est 1956
——£1.24M—70y8276y
MORTGAGE INFORMATION CENTRE LIMITED→
SC233257 · est 2002
——£14.1k—23y8266y
A.J. OPTIONS LIMITED→
SC229017 · est 2002
———40024y8070y
ANNIE DUNCAN LTD.→
SC289895 · est 2005
——£524—20y8068y
AVETON GIFFORD ASSOCIATES LIMITED→
SC268741 · est 2004
——£348.5k—21y8067y
DAVID DOUGAN FINANCIAL SERVICES LIMITED→
SC350319 · est 2008
——£30.5k—17y8066y
EXECUTIVE BENEFIT SERVICES (U.K.) LIMITED→
SC054039 · est 1973 · no financials extracted
————52y8071y
EXECUTIVE FINANCIAL SERVICES LIMITED→
SC280840 · est 2005
——£298.8k—21y8073y
F. P. BREEN LIMITED→
SC244307 · est 2003
——£2.2k—23y8060y
H.B. MORTGAGE SOLUTIONS LTD.→
SC304331 · est 2006
——£15.9k—19y8063y
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 →
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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
Incorporated2019-11-29
Jurisdictionscotland
Primary SIC64922 — Activities of mortgage finance companies

Registered office

3 Candymill Lane
Hamilton
ML3 0FD
Scotland

Filing status

Accounts
Next due: 2026-08-31
Last made up to: 2024-11-30
Confirmation statement
Next due: 2027-05-04
Last: 2026-04-20

Officers (1 active · 3 resigned)

CUTHBERTSON, Maria→
director · ~50y · appointed 2019-11-29
View their other companies + combined net worth →
Active
COWAN, Garry→
director · ~63y · appointed 2019-12-02 · resigned 2022-04-28
Resigned
HUGHES, David→
director · ~53y · appointed 2019-12-02 · resigned 2020-03-02
Resigned
PARK, Amanda→
director · ~55y · appointed 2019-11-29 · resigned 2022-09-21
Resigned

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

Recent filings (29 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-05-07
accounts-with-accounts-type-micro-entity
accounts · AA
2025-08-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-22
accounts-with-accounts-type-micro-entity
accounts · AA
2024-08-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-05-22
accounts-with-accounts-type-micro-entity
accounts · AA
2023-10-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-31
termination-director-company-with-name-termination-date
officers · TM01
2022-09-22
termination-director-company-with-name-termination-date
officers · TM01
2022-05-03
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-04-27
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-04-21
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-04-21
confirmation-statement-with-updates
confirmation-statement · CS01
2022-04-20
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2022-03-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-02-08