A STEWART MACKAY (DEVELOPMENTS) LIMITED

💤Zombieactive

SC102770 · ltd · incorporated 1987-01-16

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 Apr 2025

Net worth

£-16.7k

book net assets

Opportunity

79/100

Strong

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What this business does

Primary activity: SIC 99999

Sector: Extraterritorial bodies

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 79/100 (strong), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

2 live charges · oldest 39.1y

45/100

under pressure

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

· Oldest live charge is 39.1 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Distress signals active — lender appetite narrows.

Data confidence

Overall: high (82/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 1 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

4 officers (1 active, 4 linked, 3 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

10 connected companies via shared directors

Filing history

102 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

79/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 105 (micro)

Negative net assets

Liabilities exceed assets by £16,735

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

-£17k

~ YoY

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 105 (micro)

Metric	2025-04-30	2024-04-30
Total assets	£-16.7k	£-16.7k
Net assets	£-16.7k	£-16.7k

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

filings

Last 90 days

filing

• 1 accounts

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (24 events)Click to expand

2026-01-28
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2025-04-24
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-01-19
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-01-12
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2022-01-14
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2021-04-23
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2020-07-22
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2020-07-17
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2020-07-03
📄
termination-director-company-with-name-termination-date
officers · TM01
2020-07-03
📄
appoint-person-director-company-with-name-date
officers · AP01
2020-07-03
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2020-01-30
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2019-11-26
➕
GILLIES, Iain appointed
director
2019-11-26
➖
MACKAY, Elsie Isabella resigned
secretary
2019-11-26
➖
MACKAY, Elsie Isabella resigned
director
2019-01-30
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2018-01-25
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2017-01-26
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2011-12-28
➖
MACKAY, Alexander Stewart resigned
director
2011-12-28
➕
MACKAY, Elsie Isabella appointed
director
1995-10-04
🔓
Charge satisfied #1
1995-02-08
🔒
Charge registered #2
Lender: The Governor and Company of the Bank of Scotland
1987-03-27
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
1987-01-16
🏢
Company incorporated
As A STEWART MACKAY (DEVELOPMENTS) LIMITED

Owner dependency

83/100

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 64 — approaching natural succession window.

Succession & seller-readiness

75/100

Likely off-market candidate

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
secondaryStable-but-static management: Company is 39 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Mr Iain Gillies Individual · British · DOB 03/1962 · age 64	75–100%	—	75-100% shares	06/04/2016

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 →

Similar companies

Active · Other · G postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
A.L.G.P. CENTURY LP→ SL031008 · est 2017 · no financials extracted	—	—	—	—	8y	—	—
AGE CONCERN EASTWOOD→ SC189499 · est 1998 · no financials extracted	—	—	—	—	27y	—	—
AGES LIMITED→ SC357300 · est 2009 · no financials extracted	—	—	—	—	17y	—	—
AGF DAVIES LIMITED→ SC747437 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
AGRICO TRADING LP→ SL022912 · est 2015 · no financials extracted	—	—	—	—	10y	—	—
AGROMAX SALES L.P.→ SL010955 · est 2012 · no financials extracted	—	—	—	—	13y	—	—
ALARO BUSINESS LP→ SL015052 · est 2013 · no financials extracted	—	—	—	—	12y	—	—
ALBION CAPITAL MANAGEMENT LP→ SL015205 · est 2014 · no financials extracted	—	—	—	—	12y	—	—
ALCHEMIST COMMERCIAL PROPERTY FUND LIMITED PARTNERSHIP→ SL007093 · est 2009 · no financials extracted	—	—	—	—	17y	—	—
ALITER CAPITAL CO-INVEST II EXPRESS LP→ SL036068 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
ALITER CAPITAL CO-INVEST LP→ SL029089 · est 2016 · no financials extracted	—	—	—	—	9y	—	—
ALIVE AGAIN LTD→ SC869488 · est 2025 · no financials extracted	—	—	—	—	—	—	—

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

🔒Tailored diligence questions

7 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

Incorporated1987-01-16

Jurisdictionscotland

Primary SIC99999 — SIC 99999

Registered office

3 Clairmont Gardens

Glasgow

G3 7LW

Scotland

Filing status

Accounts

Next due: 2027-01-31

Last made up to: 2025-04-30

Confirmation statement

Next due: 2026-07-13

Last: 2025-06-29

Officers (1 active · 3 resigned)

GILLIES, Iain→

director · ~64y · appointed 2019-11-26

View their other companies + combined net worth →

Active

MACKAY, Elsie Isabella→

secretary · resigned 2019-11-26

Resigned

MACKAY, Alexander Stewart→

director · ~73y · resigned 2011-12-28

Resigned

MACKAY, Elsie Isabella→

director · ~77y · appointed 2011-12-28 · resigned 2019-11-26

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:2 of 2 shown

			Type	Properties
	outstanding	Lloyds Banking Group The Governor and Company of the Bank of Scotland	Bond & floating charge	1 property	08/02/1995	—
	satisfied	Lloyds Banking Group The Governor and Company of the Bank of Scotland	Bond & floating charge	1 property	27/03/1987	04/10/1995

Click column headers to sort. Use filters above to narrow by status and lender.