BRAES FUNCTIONS LTD

🌿Early-stageactive
SC807657 · ltd · incorporated 2024-04-19
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.
Why now
Window opening · high confidence
More negotiable than before — 3 signals weakening over the last 30 days.
  • · Hygiene score: 90 → 70
  • · Opportunity score: 72 → 64
  • · Bankability: 70 → 60
  • · Distress / opportunity: avoid → speculative
Opportunity decay
softening · 6-months
Softening — cumulative signals suggest this becomes more negotiable over the next 3–6 months.
  • · 3 recent signals weakening vs 0 strengthening
What changed my view
Last 30 days

Picture worsened over the last 30 days — 3 negative signals vs 0 positive.

  • Opportunity score: 7264
  • Hygiene score: 9070
  • Bankability: 7060
  • ·Distress / opportunity: avoidspeculative
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 Apr 2025
Net worth
book net assets
Opportunity
64/100
Worth a look
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What this business does
Primary activity: Public houses and bars
Sector: Accommodation & food service
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 64/100 (worth a look), bankability 60/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Resolve: Confirmation statement overdue. Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal. Most likely exit: share sale to pe / searcher (73/100).

Data confidence

Overall: medium (71/100)

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
Confirmed no charges registered
85
Directors & officers
1 officers (1 active, 1 linked, 1 with DOB)
90
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
3 connected companies via shared directors
54
Filing history
5 filings
60
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
64/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
50
Adequate — check latest filings for context.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
59
Some moderate concerns — review flags.
Signal strength
90
Good data coverage for analysis.

Key financials

1 year extracted from filed iXBRL accounts
Cash
Net Worth
Current Assets
Current Liabilities

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-04-30

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

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • 1 accounts
Counts from Companies House filing history.
Corporate timeline (5 events)Click to expand
  1. 2026-02-24
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  2. 2025-06-24
    ✏️
    certificate-change-of-name-company
    change-of-name · CERTNM
  3. 2024-04-19
    🏢
    Company incorporated
    As BRAES FUNCTIONS LTD
  4. 2024-04-19
    MORGAN, James Shaw appointed
    director
  5. 2024-04-19
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

88/100
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 60 — approaching natural succession window.
  • +Young company: Only 2.2 years old — management layer unlikely to be developed.

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 60. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

1 high · 1 med ·
Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2026-05-14

Name changed recently
medium

Name changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.

Evidence: 2025-06-24: certificate-change-of-name-company

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr James Shaw Morgan
Individual · British · DOB 07/1966 · age 60
75100%
75–100%board control75-100% shares · 75-100% voting · board control19/04/2024

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.

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

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Company details

Statusactive
Typeltd
Incorporated2024-04-19
Jurisdictionscotland
Primary SIC56302 — Public houses and bars

Registered office

Limetree Garage
Glasgow Road
Hamilton
ML3 0RA
Scotland

Filing status

Accounts
Next due: 2027-01-31
Last made up to: 2025-04-30
Confirmation statement
Next due: 2026-05-14OVERDUE
Last: 2025-04-30

Officers (1 active · 0 resigned)

MORGAN, James Shaw
director · ~60y · appointed 2024-04-19
View their other companies + combined net worth →
Active

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

Recent filings (5 total)

accounts-with-accounts-type-dormant
accounts · AA
2026-02-24
certificate-change-of-name-company
change-of-name · CERTNM
2025-06-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-24
confirmation-statement-with-updates
confirmation-statement · CS01
2024-04-30
incorporation-company
incorporation · NEWINC
2024-04-19