ILLIAD INTERNATIONAL LLP

💤Zombieactive
SO301530 · llp · incorporated 2007-09-11
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 2026
Net worth
—
book net assets
Opportunity
69/100
Strong
🔔
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Investor take
Pursue
Active trading company. Reasonable fundamentals — worth a memo before deciding.

Opportunity 69/100 (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 (58/100).

🏦

Refinance opportunity

7 live charges · 3 lenders · oldest 18.1y

15/100
under pressure

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

  • · Oldest live charge is 18.1 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (76/100)

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
7 charges (7/7 with lender, 7/7 with type)
90
Directors & officers
5 officers (2 active, 5 linked, 3 with DOB)
82
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
64 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
69/100Strong
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
74
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Cash draining
Cash down 60% YoY
Cash YoY
-60%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£26k
↓ 60% YoY
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£13k£25k£38k£51k£63kMar 2025Mar 2026

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2026-03-302025-03-30
Total assets£2.67M—
Cash£25.5k£63.2k

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
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (47 events)Click to expand
  1. 2026-05-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-09-11
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  3. 2025-04-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2024-11-08
    📍
    change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
    address · LLAD01
  5. 2024-10-11
    📍
    change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
    address · LLAD01
  6. 2024-09-11
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  7. 2024-05-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2023-09-19
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  9. 2023-08-04
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  10. 2022-11-04
    📍
    change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
    address · LLAD01
  11. 2022-09-12
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  12. 2022-04-27
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  13. 2021-09-13
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  14. 2021-09-13
    📄
    change-to-a-person-with-significant-control-limited-liability-partnership
    persons-with-significant-control · LLPSC04
  15. 2021-09-13
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  16. 2021-07-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2020-09-14
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  18. 2020-06-22
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  19. 2019-12-09
    📄
    change-person-member-limited-liability-partnership-with-name-change-date
    officers · LLCH01
  20. 2019-09-26
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  21. 2019-09-17
    📍
    change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
    address · LLAD01
  22. 2019-05-09
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  23. 2019-04-18
    📄
    mortgage-satisfy-charge-full-limited-liability-partnership
    mortgage · LLMR04
  24. 2019-04-18
    🔓
    Charge satisfied #6
  25. 2018-09-24
    📄
    confirmation-statement-with-no-updates
    confirmation-statement · LLCS01
  26. 2018-08-01
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  27. 2016-06-07
    🔒
    Charge registered #7
    Lender: Kevan Mcdonald
  28. 2016-06-06
    🔒
    Charge registered #6
    Lender: Kevan Mcdonald
  29. 2016-04-01
    ➕
    A L M PROPERTIES LIMITED appointed
    corporate-llp-designated-member
  30. 2016-04-01
    ➖
    ALEXANDER INGLIS AND SON LIMITED resigned
    corporate-llp-designated-member
  31. 2014-07-03
    🔓
    Charge satisfied #5
  32. 2014-07-03
    🔓
    Charge satisfied #4
  33. 2014-07-03
    🔓
    Charge satisfied #3
  34. 2013-06-19
    🔒
    Charge registered #5
    Lender: Santander UK PLC
  35. 2013-05-31
    🔒
    Charge registered #4
    Lender: Santander UK PLC
  36. 2013-05-31
    🔒
    Charge registered #3
    Lender: Santander UK PLC
  37. 2011-09-30
    ➖
    AITKEN, James resigned
    llp-designated-member
  38. 2011-09-30
    ➕
    ALEXANDER INGLIS AND SON LIMITED appointed
    corporate-llp-designated-member
  39. 2011-04-21
    ➖
    MORRISON, Alexander Peter resigned
    llp-designated-member
  40. 2011-03-17
    🔓
    Charge satisfied #2
  41. 2011-03-12
    🔓
    Charge satisfied #1
  42. 2008-05-07
    🔒
    Charge registered #2
    Lender: Royal Bank of Scotland PLC
  43. 2008-05-02
    🔒
    Charge registered #1
    Lender: Royal Bank of Scotland PLC
  44. 2008-02-01
    ➕
    AITKEN, James appointed
    llp-designated-member
  45. 2007-09-11
    🏢
    Company incorporated
    As ILLIAD INTERNATIONAL LLP
  46. 2007-09-11
    ➕
    MCDONALD, Kevan appointed
    llp-designated-member
  47. 2007-09-11
    ➕
    MORRISON, Alexander Peter 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 · 1 low
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.

Multiple registered office changes
low

Multiple address changes in a short period can indicate operational instability or admin disorder.

Group structure

A L M Properties Limited holds 25-50% — a significant corporate investor but not a controlling parent.

🏛️
A L M Properties Limited
Corporate parent
⬇
ILLIAD INTERNATIONAL LLP
This company · SO301530

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

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
A L M Properties Limited
Corporate entity
—25–50%25-50% voting06/04/2016
Mr Kevan Mcdonald
Individual · British · DOB 07/1958 · age 68
—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
Incorporated2007-09-11
Jurisdictionscotland
Primary SIC—

Registered office

14 Rutland Square
Edinburgh
Lothians
EH1 2BD
United Kingdom

Filing status

Accounts
Next due: 2027-12-30
Last made up to: 2026-03-30
Confirmation statement
Next due: 2026-09-25
Last: 2025-09-11

Officers (2 active · 3 resigned)

MCDONALD, Kevan→
llp-designated-member · ~68y · appointed 2007-09-11
View their other companies + combined net worth →
Active
A L M PROPERTIES LIMITED→
corporate-llp-designated-member · appointed 2016-04-01
View their other companies + combined net worth →
Active
AITKEN, James→
llp-designated-member · ~79y · appointed 2008-02-01 · resigned 2011-09-30
Resigned
MORRISON, Alexander Peter→
llp-designated-member · ~52y · appointed 2007-09-11 · resigned 2011-04-21
Resigned
ALEXANDER INGLIS AND SON LIMITED→
corporate-llp-designated-member · appointed 2011-09-30 · resigned 2016-04-01
Resigned

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

Mortgages & charges

7
Total charges
1
Outstanding
1
Active lenders
Status:Lender:7 of 7 shown
TypeProperties
outstanding
Kevan Mcdonald
A registered charge—07/06/2016—
satisfied
Kevan Mcdonald
A registered charge1 property06/06/201618/04/2019
satisfied
Santander
Santander UK PLC
A registered charge1 property19/06/201303/07/2014
satisfied
Santander
Santander UK PLC
A registered charge1 property31/05/201303/07/2014
satisfied
Santander
Santander UK PLC
A registered charge1 property31/05/201303/07/2014
satisfied
Lloyds Banking Group
Royal Bank of Scotland PLC
Standard security1 property07/05/200817/03/2011
satisfied
Lloyds Banking Group
Royal Bank of Scotland PLC
Floating charge1 property02/05/200812/03/2011
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (64 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-05-22
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2025-09-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-04-29
change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
address · LLAD01
2024-11-08
change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
address · LLAD01
2024-10-11
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2024-09-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-13
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2023-09-19
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-08-04
change-registered-office-address-limited-liability-partnership-with-date-old-address-new-address
address · LLAD01
2022-11-04
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2022-09-12
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-04-27
confirmation-statement-with-no-updates
confirmation-statement · LLCS01
2021-09-13
change-to-a-person-with-significant-control-limited-liability-partnership
persons-with-significant-control · LLPSC04
2021-09-13
change-person-member-limited-liability-partnership-with-name-change-date
officers · LLCH01
2021-09-13