MERCAT HOMES LIMITED
💤Zombieactive
SC107773 · ltd · incorporated 1987-11-24
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 Oct 2024
Net worth
£3.36M
book net assets
Opportunity
73/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueProperty-backed borrower with a 73-year-old founder — textbook succession opportunity.
Opportunity 73/100 (strong), bankability 57/100. Strong seller-intent signal (68/100, director aged 73). Biggest value-creation lever: Consolidate lender relationships. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (53/100).
🏦
Refinance opportunity
31 live charges · 7 lenders · oldest 38.2y
15/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 38.2 years old — likely at or near maturity.
- · 7 lenders named — inter-creditor friction likely.
- · Distress signals active — lender appetite narrows.
Data confidence
Overall: high (81/100)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
75
Lenders & charges
31 charges (31/31 with lender, 31/31 with type)
90
Directors & officers
12 officers (1 active, 12 linked, 6 with DOB)
80
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
9 connected companies via shared directors
72
Filing history
178 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation
Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.
Available from the Pro tier upwards.
See pricing →Opportunity Score
73/100Strong
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
74
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £3,361,189
Net assets shrinking
Down £1,490,230 YoY
Cash YoY
+815%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£161k
↑ 815% YoY
Net Worth
£3.4m
↓ 31% YoY
Current Assets
£239k
↓ 40% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-10-31 | 2023-10-31 |
|---|---|---|
| Total assets | £3.61M | £8.14M |
| Current assets | £238.5k | £396.8k |
| Cash | £161.5k | £17.6k |
| Debtors | £77.1k | £379.2k |
| Net assets | £3.36M | £4.85M |
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 confirmation-statement
- • 1 mortgage
Counts from Companies House filing history.
Corporate timeline (93 events)Click to expand
- 2025-11-25📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-11-25🔓Charge satisfied #34
- 2025-07-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-06-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-06-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-06-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-02-02📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2021-12-23📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2021-12-23📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2021-12-01➖DENTONS SECRETARIES LIMITED resignedcorporate-secretary
- 2021-11-30📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2021-11-30📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2021-11-25🔒Charge registered #35Lender: The Royal Bank of Scotland PLC
- 2021-11-25🔒Charge registered #34Lender: The Royal Bank of Scotland PLC
- 2021-07-19📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-07-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-06-11📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-05-22📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-11-09📄appoint-corporate-secretary-company-with-name-dateofficers · AP04
- 2017-11-09📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2017-10-25➕DENTONS SECRETARIES LIMITED appointedcorporate-secretary
- 2017-10-25➖MACLAY MURRAY & SPENS LLP resignedcorporate-nominee-secretary
- 2017-10-07🔓Charge satisfied #15
- 2015-07-13🔒Charge registered #33Lender: The Royal Bank of Scotland PLC
- 2013-12-16🔒Charge registered #32Lender: The Royal Bank of Scotland PLC
- 2013-12-16🔒Charge registered #31Lender: The Royal Bank of Scotland PLC
- 2007-09-14➕MACLAY MURRAY & SPENS LLP appointedcorporate-nominee-secretary
- 2007-09-14➖MACLAY MURRAY & SPENS LLP resignedcorporate-nominee-secretary
- 2004-04-07➖SUTHERLAND, Lynda resigneddirector
- 2004-03-15➖BLACKWOOD, William Blane resigneddirector
- 2003-05-14🔓Charge satisfied #20
- 2003-04-28🔓Charge satisfied #29
- 2003-04-28🔓Charge satisfied #28
- 2003-04-28🔓Charge satisfied #27
- 2003-04-28🔓Charge satisfied #26
- 2003-04-28🔓Charge satisfied #25
- 2003-04-28🔓Charge satisfied #24
- 2003-04-28🔓Charge satisfied #23
- 2003-04-28🔓Charge satisfied #22
- 2003-04-28🔓Charge satisfied #21
- 2003-04-28🔓Charge satisfied #19
- 2003-04-28🔓Charge satisfied #18
- 2003-04-28🔓Charge satisfied #17
- 2003-04-03🔒Charge registered #30Lender: The Royal Bank of Scotland PLC
- 2002-02-26🔒Charge registered #29Lender: Lloyds Tsb Scotland PLC
- 2000-11-23🔓Charge satisfied #13
- 2000-10-27🔓Charge satisfied #16
- 2000-10-27🔓Charge satisfied #14
- 2000-10-27🔓Charge satisfied #12
- 2000-04-06🔒Charge registered #28Lender: Lloyds Tsb Scotland PLC
Showing most recent 50 of 93 events
Owner dependency
90/100
Critical — business is the founderThe 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 73 — succession pressure is live.
Succession & seller-readiness
85/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 73 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 38 years old and no new directors in the last 3 years — succession not yet being planned internally.
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.
5 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
Group structure
Grampian Property Group Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Grampian Property Group Limited
Corporate parent · holds 75-100% shares · board control
⬇
MERCAT HOMES LIMITED
This company · SC107773
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%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Grampian Property Group Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 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 · Property · AB postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| JACKAL PROPERTIES LIMITED→ SC228832 · est 2002 | £1.29M £1.10M–£1.49M | — | £1.29M | — | 24y | 83 | 71y |
| F.G. BURNETT LIMITED→ SC202175 · est 1999 | £1.01M £861.9k–£1.17M | — | £1.01M | — | 26y | 83 | 65y |
| A.R.N. ENERGY LIMITED→ SC366947 · est 2009 | £136.9k £116.4k–£157.4k | — | £136.9k | — | 16y | 83 | 69y |
| GALLERY HEINZEL LIMITED→ SC233642 · est 2002 | £99.6k £84.7k–£114.6k | — | £99.6k | — | 23y | 83 | 59y |
| EASTHAVEN PROPERTIES LIMITED→ SC277384 · est 2004 | £93.3k £79.3k–£107.3k | — | £93.3k | — | 21y | 83 | 58y |
| JAMES MILNE & SONS (FUELS) LIMITED→ SC083208 · est 1983 | £76.5k £65.0k–£88.0k | — | £76.5k | — | 42y | 83 | 87y |
| EASTHAVEN MAINTENANCE AND LETTING LIMITED→ SC361273 · est 2009 | £1.2k £1.0k–£1.4k | — | £1.2k | — | 16y | 83 | 59y |
| KNIGHT PROPERTY GROUP PLC→ SC064782 · est 1978 | — | £49.97M | — | 1900 | 48y | 89 | 78y |
| ASL INVESTMENTS LIMITED→ SC333364 · est 2007 | — | — | — | 300 | 18y | 83 | 74y |
| BROADSHADE GROUP LTD→ SC161911 · est 1995 | — | — | — | 400 | 30y | 83 | 63y |
| DALESCOT LIMITED→ SC308040 · est 2006 | — | — | — | 0 | 19y | 83 | 78y |
| JRG PROPCO LTD→ SC340522 · est 2008 | — | — | — | 0 | 18y | 83 | 69y |
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
Incorporated1987-11-24
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
Unit 2 The Galleria
Langstane Place
Aberdeen
AB11 6FB
Scotland
Filing status
Accounts
Next due: 2026-07-31
Last made up to: 2024-10-31
Confirmation statement
Next due: 2027-01-14
Last: 2025-12-31
Officers (1 active · 11 resigned)
Active
SUTHERLAND, Lynda→
Resignedsecretary · appointed 1995-01-06 · resigned 1997-02-24
ABERDEIN CONSIDINE & CO→
Resignedcorporate-secretary · resigned 1995-01-06
BURNETT & REID→
Resignedcorporate-secretary · appointed 1997-02-24 · resigned 1999-01-25
DENTONS SECRETARIES LIMITED→
Resignedcorporate-secretary · appointed 2017-10-25 · resigned 2021-12-01
MACLAY MURRAY & SPENS LLP→
Resignedcorporate-nominee-secretary · appointed 2007-09-14 · resigned 2017-10-25
MACLAY MURRAY & SPENS LLP→
Resignedcorporate-nominee-secretary · appointed 1999-01-25 · resigned 2007-09-14
BLACKWOOD, William Blane→
Resigneddirector · ~74y · appointed 1993-10-09 · resigned 2004-03-15
FLIN, David→
Resigneddirector · ~71y · resigned 1992-12-04
SUTHERLAND, Lynda→
Resigneddirector · ~72y · appointed 1993-10-09 · resigned 2004-04-07
TRUSCOTT, Graham→
Resigneddirector · ~69y · appointed 1993-10-09 · resigned 1997-07-08
URQUHART, William Stephen→
Resigneddirector · ~76y · resigned 1992-12-04
Click a director name to see their full track record across all companies.
Mortgages & charges
31
Total charges
5
Outstanding
1
Active lenders
Status:Lender:31 of 31 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | 1 property | 25/11/2021 | — | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | 1 property | 25/11/2021 | 25/11/2025 | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | 2 properties | 13/07/2015 | — | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | 1 property | 16/12/2013 | — | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | A registered charge | 1 property | 16/12/2013 | — | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | Bond & floating charge | 1 property | 03/04/2003 | — | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 26/02/2002 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 14/05/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 06/04/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Scotland PLC | Bond & floating charge | 1 property | 08/03/2000 | 28/04/2003 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 03/09/1999 | 27/10/2000 | |
| satisfied | Scottish Homes | Standard security | 1 property | 15/02/1995 | 07/10/2017 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 15/02/1995 | 27/10/2000 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 2 properties | 10/02/1994 | 27/10/2000 | |
| satisfied | Scottish Homes | Standard security | 1 property | 01/02/1994 | 23/11/2000 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 01/08/1991 | 17/01/1994 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 1 property | 14/09/1989 | 17/01/1994 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Bond & floating charge | 1 property | 01/09/1989 | 05/04/2000 | |
| satisfied | Aberdeen Trust Aberdeen Trust Limited | Standard security | 2 properties | 01/02/1989 | 01/07/1991 | |
| satisfied | Aberdeen Trust Aberdeen Trust Limited | Standard security | 1 property | 21/12/1988 | 10/04/1990 | |
| satisfied | North of Scotland Finance Company North of Scotland Finance Company Limited | Standard security | 1 property | 28/03/1988 | 01/07/1991 | |
| satisfied | North of Scotland Finance Company North of Scotland Finance Company LTD | Floating charge | 1 property | 04/03/1988 | 19/09/1989 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (178 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-13
mortgage-satisfy-charge-full
mortgage · MR04
2025-11-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-07-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-06-23
confirmation-statement-with-updates
confirmation-statement · CS01
2023-01-05
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-06-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-02
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2022-02-02
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-12-23
termination-secretary-company-with-name-termination-date
officers · TM02
2021-12-23
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-11-30
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-11-30