JIGSAW TOPCO LIMITED

🌿Early-stageactive

SC751829 · ltd · incorporated 2022-11-29

Investment thesis

Growth-phase business — story-led; valuation sensitive to momentum.

Why interesting: Trading is scaling; acquirers paying for trajectory get disproportionate leverage.

Why risky: Price often leads fundamentals; dependency on founder often high.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 3.2y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Dec 2024

Net worth

—

book net assets

Opportunity

74/100

Strong

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What this business does

Primary activity: Activities of other holding companies n.e.c.

Sector: Financial & insurance

Investor take

Pursue

Strong opportunity: asset-holding vehicle with strong profile and acceptable with review structure.

Opportunity 74/100 (strong), bankability 70/100. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 3.2y

50/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Charge age ~3.2 years — mid-life; refi window approaching.
· Two lenders — manageable, but coordination required.
· Legal-friction score 15/100 — clean.
· Not currently profitable — coverage conversation is a harder sell.

Data confidence

Overall: high (84/100)

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

4 charges (4/4 with lender, 4/4 with type)

Directors & officers

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

Ownership & PSC

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

Director network

17 connected companies via shared directors

Filing history

27 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

74/100Strong

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

Loss-making

Loss before tax £1,300

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2024-12-31	2023-12-31
Profit before tax	£-1.3k	—
Average employees	0	0

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

🔒Filing-note intelligence

3 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

filings

Last 180 days

filings

• 1 accounts
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (36 events)Click to expand

2025-12-18
📄
accounts-with-accounts-type-full
accounts · AA
2025-08-11
➕
MCGINIGAL, Scott appointed
director
2025-08-11
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-04-24
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-04-24
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-04-17
➕
MORRISON, Geoffrey Elmslie, Mr. appointed
director
2025-04-11
➖
ALLAN, Terry Michael resigned
director
2024-11-29
📄
accounts-with-accounts-type-full
accounts · AA
2024-10-18
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-10-18
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2024-10-15
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-10-15
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-10-15
🔓
Charge satisfied #2
2024-10-15
🔓
Charge satisfied #1
2024-10-14
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-10-11
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-10-03
🔒
Charge registered #4
Lender: Hsbc Corporate Trustee Company (UK) Limited as Security Agent
2024-10-03
🔒
Charge registered #3
Lender: Hsbc Corporate Trustee Company (UK) Limited (as Security Agent)
2024-08-01
📄
change-account-reference-date-company-previous-extended
accounts · AA01
2024-07-10
📄
change-account-reference-date-company-current-extended
accounts · AA01
2024-01-09
📄
capital-allotment-shares
capital · SH01
2023-03-22
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-03-22
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-03-15
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-03-15
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-02-15
📄
capital-allotment-shares
capital · SH01
2023-02-14
📄
memorandum-articles
incorporation · MA
2023-02-14
📄
resolution
resolution · RESOLUTIONS
2023-02-10
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-02-08
➕
MITCHELL, Derek George appointed
director
2023-02-08
➕
ALLAN, Terry Michael appointed
director
2023-02-08
🔒
Charge registered #2
Lender: Hsbc Corporate Trustee Company (UK) Limited (as Security Agent)
2023-02-08
🔒
Charge registered #1
Lender: Hsbc Corporate Trustee Company (UK) Limited (as Security Agent)
2022-11-29
🏢
Company incorporated
As JIGSAW TOPCO LIMITED
2022-11-29
➕
KERR, Adam Thomas appointed
director
2022-11-29
➕
WELSH, Colin Ian appointed
director

Owner dependency

55/100

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.
+Founder age: Director aged approximately 67 — succession pressure is live.

Succession & seller-readiness

50/100

Moderate signal

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 67. Approaching typical UK retirement age — succession thinking likely.

Red flags

1 med ·

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

Buchan 1 Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Buchan 1 Limited

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

JIGSAW TOPCO LIMITED

This company · SC751829

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Buchan 1 Limited Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	29/11/2022

1 historic (ceased) PSC

Hsbc Corporate Trustee Company (Uk) Limitedceased 03/10/2024· 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 · Holding company · AB postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
HRN GROUP LIMITED→ SC721321 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
KDP HOLDINGS LTD→ SC602400 · est 2018 · no financials extracted	—	—	—	—	7y	—	—
KUIPER GROUP UK LIMITED→ SC595956 · est 2018 · no financials extracted	—	—	—	—	7y	—	—
L DEA PROPERTY LIMITED→ SC803888 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
LAHARNA MARINE SERVICES LTD→ SC271572 · est 2004 · no financials extracted	—	—	—	—	21y	—	—
LAING TRADITIONAL MASONRY NORTH LIMITED→ SC371637 · est 2010 · no financials extracted	—	—	—	—	16y	—	—
LOVIE HOLDINGS LTD→ SC595439 · est 2018 · no financials extracted	—	—	—	—	7y	—	—
MACADE GLOBAL MANAGEMENT LIMITED→ SC476617 · est 2014 · no financials extracted	—	—	—	—	11y	—	—
MALLARD NORTH EAST LTD→ SC727011 · est 2022 · no financials extracted	—	—	—	—	4y	—	—
MARKTEN LIMITED→ SC441094 · est 2013 · no financials extracted	—	—	—	—	13y	—	—
MCLEOD + AITKEN GROUP HOLDINGS LIMITED→ SC626290 · est 2019 · no financials extracted	—	—	—	—	7y	—	—
MCPHERSON GROUP HOLDINGS LIMITED→ SC785676 · est 2023 · no financials extracted	—	—	—	—	2y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

10 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

Incorporated2022-11-29

Jurisdictionscotland

Primary SIC64209 — Activities of other holding companies n.e.c.

Registered office

Blackwood House

Union Grove Lane

Aberdeen

AB10 6XU

Scotland

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-12-12

Last: 2025-11-28