SALTIRE HIGHLAND FARMS LIMITED

💤Zombieactive
SC774565 · ltd · incorporated 2023-07-03
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.
Why now
Window steady · high confidence
Thesis has shifted recently — watch for confirmation.
  • · Lifecycle stage: early → zombie
  • · Investment thesis: growth_story → zombie_hold
  • · Refinance opportunity: too_messy → under_pressure
Opportunity decay
drifting distress · 6-months
Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.
  • · Lifecycle stage drifting downward
  • · Currently "zombie"
What changed my view
Last 30 days

Picture worsened over the last 30 days — 2 negative signals vs 0 positive.

  • ↓Lifecycle stage: early → zombie
  • ·Investment thesis: growth_story → zombie_hold
  • ↓Refinance opportunity: too_messy → under_pressure
Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
£3.19M
book net assets
Opportunity
76/100
Strong
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What this business does
Primary activity: Growing of cereals (except rice), leguminous crops and oil seeds
Sector: Agriculture, forestry & fishing
Investor take
Pursue
Strong opportunity: active trading company with strong profile and acceptable with review structure.

Opportunity 76/100 (strong), bankability 62/100. 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. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

3 live charges · 3 lenders · oldest 2.7y

0/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Newest facility, 2.7 years old — likely still in initial term.
  • · 3 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

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
75
Lenders & charges
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
1 officers (1 active, 1 linked, 1 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
7 connected companies via shared directors
66
Filing history
15 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
76/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £3,189,096
Cash YoY
+16%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£457k
↑ 16% YoY
Net Worth
£3.2m
↑ 2.4% YoY
Current Assets
£568k
↑ 34% YoY
Current Liabilities
—
£0£638k£1.3m£1.9m£2.6m£3.2mMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£3.20M£3.13M
Current assets£568.5k£425.7k
Cash£457.2k£393.0k
Debtors£90.3k£27.5k
Net assets£3.19M£3.11M

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
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (18 events)Click to expand
  1. 2025-12-11
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2025-03-31
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2024-08-29
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  4. 2024-08-28
    🔒
    Charge registered #3
    Lender: Renewable Energy Systems Limited (01589961)
  5. 2024-03-11
    📄
    change-account-reference-date-company-current-shortened
    accounts · AA01
  6. 2023-12-01
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  7. 2023-12-01
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  8. 2023-11-28
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC02
  9. 2023-11-28
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  10. 2023-11-14
    🔒
    Charge registered #2
    Lender: Pat Munro (Contractors) Limited
  11. 2023-11-14
    🔒
    Charge registered #1
    Lender: C&C Macrae Limited
  12. 2023-07-25
    📄
    memorandum-articles
    incorporation · MA
  13. 2023-07-25
    📄
    resolution
    resolution · RESOLUTIONS
  14. 2023-07-25
    📄
    capital-allotment-shares
    capital · SH01
  15. 2023-07-25
    📄
    capital-allotment-shares
    capital · SH01
  16. 2023-07-03
    🏢
    Company incorporated
    As SALTIRE HIGHLAND FARMS LIMITED
  17. 2023-07-03
    ➕
    MUNRO, Brian Kenneth appointed
    director
  18. 2023-07-03
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

83/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

55/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
  • 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.)

Group structure

Saltire Highland Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Saltire Highland Ltd
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
SALTIRE HIGHLAND FARMS LIMITED
This company · SC774565

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%
NameSharesVoting rightsNature of controlNotified
Saltire Highland Ltd
Corporate entity
75–100%
75–100%board control75-100% shares · 75-100% voting · board control28/11/2023
1 historic (ceased) PSC
  • Munro Priesthill Ltdceased 28/11/2023· 75-100% shares · 75-100% voting · board control

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 · Agriculture · IV postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
BLUE MOTION FISHING CO. LIMITED→
SC357414 · est 2009
——£762.9k—17y8362y
BURGIE LODGE FARMS LIMITED→
SC031556 · est 1956
——£1.67M—70y8373y
CAWDOR FORESTRY LIMITED→
SC218848 · est 2001
——£468.9k—25y8364y
DINGWALL & HIGHLAND MARTS LIMITED→
SC154876 · est 1994
———3931y8381y
EASTER ROSS FARMERS LIMITED→
SC060125 · est 1976
———10050y8395y
GLENROSSAL LIMITED→
SC351176 · est 2008
——£2.77M—17y8388y
KINGSBURGH FOREST TRUST→
SC227429 · est 2002 · no financials extracted
————24y8375y
MJM (FARMERS) LIMITED→
SC288996 · est 2005
——£1.80M—20y8371y
STRATHNAIRN COMMUNITY WOODLANDS→
SC228026 · est 2002 · no financials extracted
————24y8371y
ACHLAIN ESTATES LIMITED→
SC138631 · est 1992
———20034y8267y
BRAHAN FARMS LIMITED→
SC048495 · est 1971
———40055y8284y
BRUCE MACKENZIE LIMITED→
SC157265 · est 1995
———131y8260y
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.

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Company details

Statusactive
Typeltd
Incorporated2023-07-03
Jurisdictionscotland
Primary SIC01110 — Growing of cereals (except rice), leguminous crops and oil seeds

Registered office

Caplich House
Old Milnafua Road
Alness
IV17 0TW
United Kingdom

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-07-16
Last: 2025-07-02

Officers (1 active · 0 resigned)

MUNRO, Brian Kenneth→
director · ~59y · appointed 2023-07-03
View their other companies + combined net worth →
Active

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

Mortgages & charges

3
Total charges
3
Outstanding
3
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
outstanding
Renewable Energy Systems (01589961)
Renewable Energy Systems Limited (01589961)
A registered charge1 property28/08/2024—
outstanding
Pat Munro (Contractors)
Pat Munro (Contractors) Limited
A registered charge14 properties14/11/2023—
outstanding
C&C Macrae
C&C Macrae Limited
A registered charge14 properties14/11/2023—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (15 total)

accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-12-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-07-22
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-03-31
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-29
confirmation-statement-with-updates
confirmation-statement · CS01
2024-07-26
change-account-reference-date-company-current-shortened
accounts · AA01
2024-03-11
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-12-01
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-12-01
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-11-28
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-11-28
memorandum-articles
incorporation · MA
2023-07-25
resolution
resolution · RESOLUTIONS
2023-07-25
capital-allotment-shares
capital · SH01
2023-07-25
capital-allotment-shares
capital · SH01
2023-07-25
incorporation-company
incorporation · NEWINC
2023-07-03