PELAGIA SHETLAND LIMITED
🌳Matureactive
SC094953 · ltd · incorporated 1985-09-04
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
76/100
Strong
What this business does
Primary activity: SIC 10200
Sector: Manufacturing
Investor take
PursueActive trading company with a 69-year-old founder — textbook succession opportunity.
Opportunity 76/100 (strong), bankability 57/100. Strong seller-intent signal (63/100, director aged 69). Biggest value-creation lever: Consolidate lender relationships. 8 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
20 live charges · 8 lenders · oldest 37.0y
25/100
too messy
Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.
- · Oldest live charge is 37.0 years old — likely at or near maturity.
- · 8 lenders named — inter-creditor friction likely.
- · Legal-friction score 45/100 (high).
Data confidence
Overall: medium (60/100)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
No iXBRL financials extracted
0
Lenders & charges
20 charges (20/20 with lender, 20/20 with type)
90
Directors & officers
36 officers (5 active, 36 linked, 31 with DOB)
87
Ownership & PSC
0 active PSC(s) of 1 total, 1 with control declared
90
Director network
12 connected companies via shared directors
81
Filing history
241 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
85
Strong succession / seller-readiness signals.
Risk profile
74
Few red flags.
Signal strength
100
Good data coverage for analysis.
Recent activity
Last 30 days
0
filings
Last 90 days
1
filing
- • 1 confirmation-statement
Last 180 days
1
filing
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (106 events)Click to expand
- 2025-09-09📄accounts-with-accounts-type-fullaccounts · AA
- 2024-09-13📄accounts-with-accounts-type-fullaccounts · AA
- 2023-09-13📄accounts-with-accounts-type-fullaccounts · AA
- 2022-11-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-11-29📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-11-22🔒Charge registered #19Lender: Dnb Bank Asa (As Security Agent)
- 2022-11-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-11-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-11-21📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2022-11-10🔒Charge registered #20Lender: Dnb Bank Asa
- 2022-11-10🔒Charge registered #17Lender: Dnb Bank Asa (As Security Agent)
- 2022-11-09🔒Charge registered #18Lender: Dnb Bank Asa (As Security Agent)
- 2022-11-09🔒Charge registered #16Lender: Dnb Bank Asa (As Security Agent)
- 2022-09-16📄accounts-with-accounts-type-fullaccounts · AA
- 2021-09-07📄accounts-with-accounts-type-fullaccounts · AA
- 2021-03-04📄notification-of-a-person-with-significant-control-statementpersons-with-significant-control · PSC08
- 2021-02-12📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2021-01-13📄accounts-with-accounts-type-fullaccounts · AA
- 2020-01-06📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2019-12-24🔒Charge registered #15Lender: Dnb Bank Asa (As Security Agent)
- 2019-09-27📄accounts-with-accounts-type-fullaccounts · AA
- 2018-09-03📄accounts-with-accounts-type-fullaccounts · AA
- 2018-04-03📄mortgage-satisfy-charge-fullmortgage · MR04
- 2018-04-03🔓Charge satisfied #10
- 2018-04-03🔓Charge satisfied #8
- 2018-04-03🔓Charge satisfied #9
- 2018-03-29🔒Charge registered #14Lender: Dnb Bank Asa (As Security Agent)
- 2018-02-27➖LAURENSON, Sandra Mary resigneddirector
- 2017-12-21🔒Charge registered #13Lender: Dnb Bank Asa (As Security Agent)
- 2017-12-21🔒Charge registered #12Lender: Dnb Bank Asa (As Security Agent)
- 2017-12-21🔒Charge registered #11Lender: Dnb Bank Asa (As Security Agent)
- 2017-02-28➕STRAND, Magnus Egil appointeddirector
- 2017-02-28➖ANDERSON, Brian resigneddirector
- 2017-02-28➖ANGUS, John Keith Hector resigneddirector
- 2017-02-28➖GOODLAD, John Hutchison resigneddirector
- 2017-02-28➖HUTCHISON, David Kay resigneddirector
- 2017-02-28➖LEIPER, Simon Neil Andrew resigneddirector
- 2015-04-30➖VIKENES, Tor resigneddirector
- 2014-06-13➕HAUGSTAD, Egil Magne appointeddirector
- 2014-06-13➖ERIKSEN, Knut Peder resigneddirector
- 2014-02-14➖HAWICK, Catherine Louise resignedsecretary
- 2014-02-06➕LEASK, Darren appointedsecretary
- 2013-03-14➖DRIVENES, Britt Kathrine resigneddirector
- 2013-03-14➕ERIKSEN, Knut Peder appointeddirector
- 2013-03-14➖MOEGSTER, Arne resigneddirector
- 2013-03-14➕VIKENES, Tor appointeddirector
- 2012-10-25➕GRAINS, Calum Andrew Sutherland, Captain appointeddirector
- 2008-11-25➖HAWICK, Catherine Louise resigneddirector
- 2008-09-04➖IRVINE, John resigneddirector
- 2008-09-04➖POLSON, Robert John resigneddirector
Showing most recent 50 of 106 events
Owner dependency
65/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- -4 active directors: Broader management team in place — suggests transferable governance.
- +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 69 — succession pressure is live.
Succession & seller-readiness
80/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 69. Approaching typical UK retirement age — succession thinking likely.
- primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 41 years old and no new directors in the last 3 years — succession not yet being planned internally.
- supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.
Red flags
1 med · 1 lowCharge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
10 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
🔒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 · Food & drink · ZE postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| QA FISH LIMITED→ SC336851 · est 2008 | — | — | — | 2900 | 18y | 83 | 62y |
| SHETLAND FARM DAIRIES LIMITED→ SC152412 · est 1994 | — | — | — | 10 | 31y | 80 | 69y |
| QA SHELLFISH LTD→ SC552948 · est 2016 | — | — | — | 400 | 9y | 76 | 62y |
| ISLAND LARDER LTD→ SC476550 · est 2014 | — | — | — | 18 | 11y | 75 | 43y |
| ISLAND FISH (SHETLAND) LTD→ SC604178 · est 2018 | — | — | £131.6k | — | 7y | 72 | 54y |
| LERWICK DISTILLERY LIMITED→ SC738215 · est 2022 | — | — | £1.94M | — | 3y | 70 | 55y |
| SHETLAND CREAMERY LIMITED→ SC871204 · est 2025 · no financials extracted | — | — | — | — | — | 70 | 47y |
| SHETLAND SALT LIMITED→ SC629207 · est 2019 | — | — | £-11.1k | — | 6y | 61 | 66y |
| LUNNA LAMB LTD→ SC673459 · est 2020 | — | — | £-20.9k | — | 5y | 60 | 69y |
| NORTHERN DELIGHTS SHETLAND LTD→ SC663028 · est 2020 | — | — | £-1.4k | — | 5y | 56 | 26y |
| JOHNSON & WOOD LTD→ SC440115 · est 2013 · no financials extracted | — | — | — | — | 13y | — | — |
| SANDWICK BAKING COMPANY LIMITED→ SC210109 · est 2000 · no financials extracted | — | — | — | — | 25y | — | — |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated1985-09-04
Jurisdictionscotland
Primary SIC10200 — SIC 10200
Registered office
Point Of Scattland
Gremista
Lerwick
Shetland
ZE1 0PX
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-01-14
Last: 2025-12-31
Officers (5 active · 31 resigned)
Active
GRAINS, Calum Andrew Sutherland, Captain→
Activedirector · ~55y · appointed 2012-10-25
View their other companies + combined net worth →
HAUGSTAD, Egil Magne→
Activedirector · ~69y · appointed 2014-06-13
View their other companies + combined net worth →
ISBISTER, Brian Neil→
Activedirector · ~61y · appointed 2002-01-01
View their other companies + combined net worth →
STRAND, Magnus Egil→
Activedirector · ~61y · appointed 2017-02-28
View their other companies + combined net worth →
ANDERSON, Elizabeth Wilma→
Resignedsecretary · resigned 1990-08-09
HAWICK, Catherine Louise→
Resignedsecretary · appointed 1999-06-10 · resigned 2014-02-14
MACLEOD, Morag→
Resignedsecretary · appointed 1995-06-01 · resigned 1999-06-10
WISHART, Allan Sinclair→
Resignedsecretary · appointed 1990-08-09 · resigned 1995-06-01
ANDERSON, Brian→
Resigneddirector · ~82y · appointed 2007-05-24 · resigned 2017-02-28
ANGUS, John Keith Hector→
Resigneddirector · ~54y · appointed 2007-09-12 · resigned 2017-02-28
BOOTH, Derek Alexander→
Resigneddirector · ~75y · appointed 1993-03-09 · resigned 1995-05-04
CLUNAS, Paul James→
Resigneddirector · ~62y · appointed 1997-10-09 · resigned 1999-11-22
DRIVENES, Britt Kathrine→
Resigneddirector · ~63y · appointed 2007-10-18 · resigned 2013-03-14
ERIKSEN, Knut Peder→
Resigneddirector · ~60y · appointed 2013-03-14 · resigned 2014-06-13
GOODLAD, John Hutchison→
Resigneddirector · ~70y · resigned 2017-02-28
HAWICK, Catherine Louise→
Resigneddirector · ~53y · appointed 2004-08-25 · resigned 2008-11-25
HUTCHISON, David Kay→
Resigneddirector · ~81y · resigned 2017-02-28
IRVINE, John→
Resigneddirector · ~83y · appointed 2004-01-06 · resigned 2008-09-04
LAURENSON, Arthur Bruce→
Resigneddirector · ~95y · resigned 2004-10-29
Click a director name to see their full track record across all companies.
Mortgages & charges
20
Total charges
10
Outstanding
2
Active lenders
Status:Lender:20 of 20 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | 1 property | 22/11/2022 | — | |
| outstanding | Dnb Bank Asa | A registered charge | — | 10/11/2022 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | 1 property | 10/11/2022 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | — | 09/11/2022 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | — | 09/11/2022 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | 1 property | 24/12/2019 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | 1 property | 29/03/2018 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | — | 21/12/2017 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | — | 21/12/2017 | — | |
| outstanding | Dnb Bank Asa (As Security Agent) | A registered charge | — | 21/12/2017 | — | |
| satisfied | Dnb Nor Bank Asa | Standard security | 1 property | 05/11/2007 | 03/04/2018 | |
| satisfied | Dnb Nor Bank Asa | Assignation of insurances | 1 property | 05/10/2007 | 03/04/2018 | |
| satisfied | Dnb Nor Bank Asa | Bond & floating charge | 1 property | 04/10/2007 | 03/04/2018 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 14/11/2002 | 11/10/2007 | |
| satisfied | Shetland Leasing and Property Developments Shetland Leasing and Property Developments Limited | Bond & floating charge | 1 property | 22/12/2000 | 15/06/2005 | |
| satisfied | The Trustees of the Shetland Development Trust | Standard security | 1 property | 14/05/1997 | 27/01/2003 | |
| satisfied | Shetland Islands Councilas Trustee of the High Risk/Unsecured Loan Scheme | Floating charge | 1 property | 02/09/1992 | 03/09/2003 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 02/03/1990 | 27/01/2003 | |
| satisfied | Shetland Islands Council | Floating charge | 1 property | 30/05/1989 | 21/08/2006 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 09/05/1989 | 11/10/2007 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (241 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-19
accounts-with-accounts-type-full
accounts · AA
2025-09-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-14
accounts-with-accounts-type-full
accounts · AA
2024-09-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-11
accounts-with-accounts-type-full
accounts · AA
2023-09-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-12
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-11-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-11-29
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-11-21
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-11-21
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-11-21
accounts-with-accounts-type-full
accounts · AA
2022-09-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-10
accounts-with-accounts-type-full
accounts · AA
2021-09-07