MERLIN GROUP LIMITED

💤Zombieactive
SC097940 · ltd · incorporated 1986-03-20
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
not disclosed
Net worth
book net assets
Opportunity
71/100
Strong
🔔
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What this business does
Primary activity: Activities of head offices
Sector: Professional, scientific & technical
ALSO REGISTERED FOR
  • 70229Management consultancy activities other than financial management
Investor take
Pass (distressed without resilience)
Distressed active trading company — structural issues outweigh the discount.

Opportunity 71/100 (strong), bankability 65/100. Strong seller-intent signal (63/100, director aged 77). 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 (53/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 38.1y

30/100
under pressure

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

  • · Oldest live charge is 38.1 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

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, 2 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 3 with DOB)
85
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
111 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
71/100Strong
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
67
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Recent activity

Last 30 days
1
filing
  • 1 officers
Last 90 days
2
filings
  • 1 officers
  • 1 accounts
Last 180 days
2
filings
  • 1 officers
  • 1 accounts
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2026-03-26
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  2. 2026-03-12
    MACLEOD, Allan Davidson resigned
    director
  3. 2026-02-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2025-08-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2024-07-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-08-01
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2022-08-02
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-04-16
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2020-07-21
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2019-08-06
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  11. 2018-09-10
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2017-07-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2016-07-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2016-03-17
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2015-07-06
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2015-02-02
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  17. 2014-02-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2011-01-14
    MACLEOD, Allan Davidson appointed
    director
  19. 2011-01-14
    MACLEOD, Calum Alexander, Dr resigned
    director
  20. 2001-03-26
    🔒
    Charge registered #5
    Lender: The Governor and Company of the Bank of Scotland
  21. 1988-09-23
    🔓
    Charge satisfied #2
  22. 1988-09-23
    🔓
    Charge satisfied #1
  23. 1988-03-17
    🔒
    Charge registered #3
    Lender: Lyle Offshore Group PLC
  24. 1988-03-17
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Scotland
  25. 1988-03-17
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  26. 1986-03-20
    🏢
    Company incorporated
    As MERLIN GROUP LIMITED

Owner dependency

90/100
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.
  • +Founder age: Director aged approximately 77 — succession pressure is live.

Succession & seller-readiness

85/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 77 years old. Natural succession window is now.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondaryStable-but-static management: Company is 40 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 high ·
Confirmation statement overdue
high

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

Evidence: Next due: 2026-01-14

Group structure

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

🏛️
Dunnichen Investments Ltd
Corporate parent · holds 75-100% shares
ultimate parent
MERLIN GROUP LIMITED
This company · SC097940

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
Dunnichen Investments Ltd
Corporate entity
75100%
75-100% shares06/04/2016

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 →

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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.

See pricing →

Company details

Statusactive
Typeltd
Incorporated1986-03-20
Jurisdictionscotland
Primary SIC70100 — Activities of head offices

Registered office

The Steading Burnside Of Carnie
Skene
Westhill
Aberdeenshire
AB32 6SL

Filing status

Accounts
Next due: 2027-07-31
Last made up to: 2025-10-31
Confirmation statement
Next due: 2026-01-14OVERDUE
Last: 2024-12-31

Officers (2 active · 2 resigned)

SINCLAIR, Alexander William
secretary
View their other companies + combined net worth →
Active
SINCLAIR, Alexander William
director · ~77y
View their other companies + combined net worth →
Active
MACLEOD, Allan Davidson
director · ~60y · appointed 2011-01-14 · resigned 2026-03-12
Resigned
MACLEOD, Calum Alexander, Dr
director · ~91y · resigned 2011-01-14
Resigned

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

Mortgages & charges

4
Total charges
2
Outstanding
2
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Bond & floating charge1 property26/03/2001
outstanding
Lyle Offshore Group
Lyle Offshore Group PLC
Floating charge1 property17/03/1988
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Letter of pledge1 property17/03/198823/09/1988
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Assignation1 property17/03/198823/09/1988
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (111 total)

termination-director-company-with-name-termination-date
officers · TM01
2026-03-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-08-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-07-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-08
accounts-with-accounts-type-micro-entity
accounts · AA
2022-08-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-02
accounts-with-accounts-type-micro-entity
accounts · AA
2021-04-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-02-23
accounts-with-accounts-type-micro-entity
accounts · AA
2020-07-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-02-23
accounts-with-accounts-type-micro-entity
accounts · AA
2019-08-06