MORNINGSIDE SECURITIES LLP

💤Zombieactive
SO301141 · llp · incorporated 2006-11-29
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 Mar 2025
Net worth
—
book net assets
Opportunity
70/100
Strong
🔔
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Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 70/100 (strong), bankability 75/100. Share purchase looks the cleaner deal structure. Most likely exit: strategic trade sale (63/100).

🏦

Refinance opportunity

5 live charges · 2 lenders · oldest 19.4y

30/100
under pressure

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

  • · Oldest live charge is 19.4 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (77/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, no SIC, incorporation date
80
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
3 officers (3 active, 3 linked, 3 with DOB)
90
Ownership & PSC
3 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
67 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
70/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
50
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
90
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
£281k
~ YoY
Current Liabilities
—
£0£56k£112k£169k£225k£281kMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)
Metric2025-03-312024-03-31
Total assets£280.4k£280.4k
Current assets£281.1k£281.1k

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
2
filings
  • • 1 persons-with-significant-control
  • • 1 officers
Counts from Companies House filing history.
Corporate timeline (38 events)Click to expand
  1. 2026-01-03
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  2. 2026-01-03
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  3. 2025-11-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2025-11-04
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  5. 2025-10-27
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  6. 2025-10-21
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  7. 2025-10-21
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  8. 2024-11-11
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  9. 2024-09-10
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2024-09-10
    📄
    change-account-reference-date-limited-liability-partnership-previous-shortened
    accounts · LLAA01
  11. 2023-12-07
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  12. 2023-11-04
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2022-12-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2022-12-15
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  15. 2022-12-15
    📍
    change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
    address · LLAD01
  16. 2022-02-28
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  17. 2022-01-12
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  18. 2021-03-29
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  19. 2020-12-09
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  20. 2020-07-08
    📍
    change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
    address · LLAD01
  21. 2019-12-04
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  22. 2019-11-05
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  23. 2019-01-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  24. 2018-12-04
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  25. 2018-02-20
    📄
    notification-of-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC01
  26. 2017-09-15
    🔓
    Charge satisfied #2
  27. 2013-05-10
    🔓
    Charge satisfied #5
  28. 2013-04-24
    🔓
    Charge satisfied #3
  29. 2011-08-31
    🔒
    Charge registered #5
    Lender: Clydesdale Bank PLC
  30. 2011-08-31
    🔓
    Charge satisfied #1
  31. 2011-08-22
    🔒
    Charge registered #4
    Lender: Clydesdale Bank PLC
  32. 2007-06-18
    🔒
    Charge registered #3
    Lender: The Governor and Company of the Bank of Scotland
  33. 2007-01-09
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Scotland
  34. 2006-12-14
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  35. 2006-11-29
    🏢
    Company incorporated
    As MORNINGSIDE SECURITIES LLP
  36. 2006-11-29
    ➕
    SMITH, Andrew Robertson appointed
    llp-designated-member
  37. 2006-11-29
    ➕
    SMITH, Charles Esmond appointed
    llp-designated-member
  38. 2006-11-29
    ➕
    SMITH, Esmond Robert appointed
    llp-designated-member

Owner dependency

50/100
Moderate — manageable with handover

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

Succession & seller-readiness

40/100
Moderate signal

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

SIGNALS
  • secondaryStable-but-static management: Company is 19 years old and no new directors in the last 3 years — succession not yet being planned internally.

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.

Shareholders & ownership

3 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Charles Esmond Smith
Individual · British · DOB 07/1977 · age 49
—25–50%25-50% voting01/02/2018
Mr Andrew Robertson Smith
Individual · British · DOB 12/1979 · age 47
—25–50%25-50% voting01/02/2018
Mr Esmond Robert Smith
Individual · British · DOB 02/1951 · age 75
—25–50%25-50% voting06/04/2016

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

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

6 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
Typellp
Incorporated2006-11-29
Jurisdictionscotland
Primary SIC—

Registered office

7 Alva Street
Edinburgh
Midlothian
EH2 4PH
United Kingdom

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-11-18
Last: 2025-11-04

Officers (3 active · 0 resigned)

SMITH, Andrew Robertson→
llp-designated-member · ~47y · appointed 2006-11-29
View their other companies + combined net worth →
Active
SMITH, Charles Esmond→
llp-designated-member · ~49y · appointed 2006-11-29
View their other companies + combined net worth →
Active
SMITH, Esmond Robert→
llp-designated-member · ~75y · appointed 2006-11-29
View their other companies + combined net worth →
Active

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

Mortgages & charges

5
Total charges
1
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
satisfied
Virgin Money
Clydesdale Bank PLC
Standard security1 property31/08/201110/05/2013
outstanding
Virgin Money
Clydesdale Bank PLC
Floating charge1 property22/08/2011—
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property18/06/200724/04/2013
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property09/01/200715/09/2017
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Floating charge1 property14/12/200631/08/2011
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (67 total)

change-to-a-person-with-significant-control-limited-liability-partnership
persons-with-significant-control · LLPSC04
2026-01-03
change-person-member-limited-liability-partnership-with-name-change-date
officers · LLCH01
2026-01-03
accounts-with-accounts-type-micro-entity
accounts · AA
2025-11-27
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2025-11-04
change-to-a-person-with-significant-control-limited-liability-partnership
persons-with-significant-control · LLPSC04
2025-10-27
change-person-member-limited-liability-partnership-with-name-change-date
officers · LLCH01
2025-10-21
change-to-a-person-with-significant-control-limited-liability-partnership
persons-with-significant-control · LLPSC04
2025-10-21
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2024-11-11
accounts-with-accounts-type-micro-entity
accounts · AA
2024-09-10
change-account-reference-date-limited-liability-partnership-previous-shortened
accounts · LLAA01
2024-09-10
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2023-12-07
accounts-with-accounts-type-micro-entity
accounts · AA
2023-11-04
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-22
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2022-12-15
change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
address · LLAD01
2022-12-15