PENDULUM SPIRITS LIMITED

🏛️Establishedactive

SC655093 · ltd · incorporated 2020-02-19

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.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Mar 2025

Net worth

£-296.4k

book net assets

Opportunity

78/100

Strong

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What this business does

Primary activity: SIC 46170

Sector: Wholesale & retail

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 78/100 (strong), bankability 67/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

3 live charges · 3 lenders · oldest 3.2y

25/100

too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

· Charge age ~3.2 years — mid-life; refi window approaching.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 25/100 — workable, but lender will want more DD.

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

Lenders & charges

3 charges (3/3 with lender, 3/3 with type)

Directors & officers

6 officers (5 active, 6 linked, 6 with DOB)

Ownership & PSC

2 active PSC(s) of 5 total, 5 with control declared

Director network

9 connected companies via shared directors

Filing history

41 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

78/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102

Negative net assets

Liabilities exceed assets by £296,441

Key financials

2 years extracted from filed iXBRL accounts

Cash

£44k

Net Worth

-£296k

↓ 36% YoY

Current Assets

£3.6m

↑ 23% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-03-31	2024-03-31
Total assets	£1.11M	£1.36M
Current assets	£3.55M	£2.88M
Cash	£44.2k	—
Debtors	£2.93M	—
Net assets	£-296.4k	£-218.1k

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

filings

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (34 events)Click to expand

2025-12-21
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-14
📄
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2025-10-10
📄
mortgage-alter-floating-charge-with-number
mortgage · 466(Scot)
2025-10-08
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-10-03
🔒
Charge registered #3
Lender: Ip Enterprises Inc
2025-09-16
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-09-05
➖
JACKSON, Gregor Mark resigned
director
2025-06-17
📄
mortgage-satisfy-charge-full
mortgage · MR04
2025-06-17
🔓
Charge satisfied #1
2025-02-18
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-02-18
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-02-18
📄
withdrawal-of-a-person-with-significant-control-statement
persons-with-significant-control · PSC09
2024-12-08
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-10-24
📄
notification-of-a-person-with-significant-control-statement
persons-with-significant-control · PSC08
2024-10-24
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-09-13
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-09-13
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-09-12
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-09-12
📄
memorandum-articles
incorporation · MA
2024-09-06
📄
capital-name-of-class-of-shares
capital · SH08
2024-09-06
📄
capital-name-of-class-of-shares
capital · SH08
2024-09-06
📄
resolution
resolution · RESOLUTIONS
2024-08-30
➕
PATEL, Maheshkumar Ramanlal appointed
director
2024-08-29
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-22
🔒
Charge registered #2
Lender: Ferovinum LTD
2024-02-20
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2023-11-30
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-02-14
🔒
Charge registered #1
Lender: Kriya Finance Limited
2021-01-12
➕
PERRY, Shai Chaim appointed
director
2021-01-12
➕
JACKSON, Gregor Mark appointed
director
2020-02-19
🏢
Company incorporated
As PENDULUM SPIRITS LIMITED
2020-02-19
➕
LAWRIE, Calum Alexander Armstrong appointed
director
2020-02-19
➕
THOMSON, Finn Macgregor appointed
director
2020-02-19
➕
TORRANCE, Andrew appointed
director

Owner dependency

48/100

Moderate — manageable with handover

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

FACTORS

-5 active directors: Broader management team in place — suggests transferable governance.
+Senior director age: Director aged approximately 60 — approaching natural succession window.

Succession & seller-readiness

40/100

Moderate signal

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

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 60. Early succession window.

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

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Andrew Torrance Individual · British · DOB 08/1979 · age 47	—	—	sig. influencesignificant influence	10/02/2025
Mr Calum Alexander Armstrong Lawrie Individual · British · DOB 10/1978 · age 48	—	—	sig. influencesignificant influence	10/02/2025

3 historic (ceased) PSCs

Mr Andrew Torranceceased 30/08/2024· 25-50% shares · 25-50% voting · board control
Mr Calum Alexander Armstrong Lawrieceased 30/08/2024· 25-50% shares · 25-50% voting · board control
Mr Calum Alexander Armstrong Lawrieceased 30/08/2024· 25-50% 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 · Wholesale & distribution · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
PPE INDUSTRIAL SUPPLIES LIMITED→ SC209209 · est 2000 · no financials extracted	—	—	—	—	25y	—	—
PREMIER FOODSTORE LIMITED→ SC232013 · est 2002 · no financials extracted	—	—	—	—	23y	—	—
PREMIER PLUMBING SUPPLIES (BIDCO) LIMITED→ SC840519 · est 2025 · no financials extracted	—	—	—	—	1y	—	—
PRESTIGE PANTHER LIMITED→ SC728377 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
PRISTINE GROUP INC LTD→ SC660890 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
PUREGANIC LIMITED→ SC746744 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
QADVIS UK LIMITED→ SC679796 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
QUFORA LTD→ SC384441 · est 2010 · no financials extracted	—	—	—	—	15y	—	—
QUINN DENTAL LTD→ SC693191 · est 2021 · no financials extracted	—	—	—	—	5y	—	—
RAEBURN FINE WINES LTD.→ SC488800 · est 2014 · no financials extracted	—	—	—	—	11y	—	—
RAFIKÏCOFFEE LIMITED→ SC636843 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
RAMA COFFEE LTD→ SC817150 · est 2024 · no financials extracted	—	—	—	—	1y	—	—

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

Incorporated2020-02-19

Jurisdictionscotland

Primary SIC46170 — SIC 46170

Registered office

1b Alba Business Pavilions

Livingston

EH54 7HG

Scotland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-01-28

Last: 2026-01-14