THISTLE SECURITIES LIMITED

⚰️Wound downdissolved
SC108270 · ltd · incorporated 1987-12-15
Investment thesis
Company dissolved — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
🔒Estimated value
—
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Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
63/100
Worth a look
🔔
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What this business does
Primary activity: SIC 99999
Sector: Extraterritorial bodies
Investor take
Pass (distressed without resilience)
Distressed unclear — structural issues outweigh the discount.

Opportunity 63/100 (worth a look), bankability 70/100. Strong seller-intent signal (78/100, director aged 75). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Resolve: Company dissolved. Company has been dissolved — it no longer legally exists. Any diligence here is historical only. Most likely exit: share sale to pe / searcher (73/100).

Data confidence

Overall: low (41/100)

Sparse data coverage. Treat AI-generated outputs as preliminary. Manual diligence essential.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
No charge records returned
50
Directors & officers
14 officers (2 active, 14 linked, 10 with DOB)
84
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
Network not yet resolved
30
Filing history
82 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
63/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
30
Concerning — overdue filings or status flags present.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
67
Some moderate concerns — review flags.
Signal strength
90
Good data coverage for analysis.

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (50 events)Click to expand
  1. 2013-12-06
    📄
    gazette-dissolved-compulsory
    gazette · GAZ2
  2. 2013-12-06
    🏁
    Company dissolved
  3. 2013-08-16
    📄
    gazette-notice-compulsory
    gazette · GAZ1
  4. 2012-08-22
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  5. 2012-05-15
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  6. 2011-09-28
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  7. 2011-05-04
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  8. 2010-09-06
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  9. 2010-05-06
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  10. 2010-05-06
    📄
    termination-director-company-with-name
    officers · TM01
  11. 2010-05-06
    📄
    change-corporate-secretary-company-with-change-date
    officers · CH04
  12. 2010-04-17
    ➖
    GROSSET, Alan George resigned
    director
  13. 2009-10-07
    📄
    accounts-with-accounts-type-dormant
    accounts · AA
  14. 2009-04-21
    📄
    legacy
    annual-return · 363a
  15. 2008-10-02
    📄
    accounts-with-made-up-date
    accounts · AA
  16. 2008-04-22
    📄
    legacy
    annual-return · 363a
  17. 2007-09-13
    📄
    accounts-with-made-up-date
    accounts · AA
  18. 2007-04-20
    📄
    legacy
    annual-return · 363a
  19. 2006-08-29
    📄
    accounts-with-made-up-date
    accounts · AA
  20. 2006-08-07
    📄
    legacy
    officers · 288c
  21. 2006-05-16
    📄
    legacy
    annual-return · 363a
  22. 2005-09-12
    📄
    accounts-with-made-up-date
    accounts · AA
  23. 2005-04-20
    📄
    legacy
    annual-return · 363s
  24. 2005-04-20
    📄
    legacy
    annual-return · 363(288)
  25. 2004-09-29
    📄
    accounts-with-made-up-date
    accounts · AA
  26. 2004-05-11
    📄
    legacy
    annual-return · 363s
  27. 2003-09-22
    📄
    accounts-with-made-up-date
    accounts · AA
  28. 2002-07-31
    ➕
    MORISONS SECRETARIES LIMITED appointed
    corporate-secretary
  29. 2002-07-31
    ➖
    MORISON BISHOP resigned
    corporate-secretary
  30. 2001-04-06
    ➖
    SMITH, Norman Alan resigned
    director
  31. 2000-07-19
    ➕
    GROSSET, Alan George appointed
    director
  32. 2000-07-19
    ➖
    WILKIE, Alistair David resigned
    director
  33. 1998-07-01
    ➖
    AVERILL, Ian Andrew resigned
    director
  34. 1994-02-01
    ➕
    AVERILL, Ian Andrew appointed
    director
  35. 1993-09-21
    ➖
    NICOLL, Margaret resigned
    director
  36. 1993-01-26
    ➖
    GROSSET, Alan George resigned
    director
  37. 1993-01-26
    ➕
    SMITH, Norman Alan appointed
    director
  38. 1992-11-16
    ➖
    DYCE, Ewen Douglas resigned
    director
  39. 1992-01-15
    ➕
    DYCE, Ewen Douglas appointed
    director
  40. 1990-04-17
    ➖
    ALEX MORISON & CO WS resigned
    corporate-secretary
  41. 1990-04-17
    ➖
    CROMBIE, John Somerville Brand resigned
    director
  42. 1990-04-17
    ➖
    OSBORNE, Julian Richard Paul resigned
    director
  43. 1990-04-17
    ➖
    WILKIE, Stanley Louis resigned
    director
  44. 1990-04-03
    ➕
    NICOLL, Margaret appointed
    director
  45. 1988-01-05
    ➕
    GROSSET, Alan George appointed
    director
  46. 1988-01-05
    ➕
    WILKIE, Alistair David appointed
    director
  47. 1988-01-05
    ➕
    WILKIE, Stanley Louis appointed
    director
  48. 1987-12-15
    🏢
    Company incorporated
    As THISTLE SECURITIES LIMITED
  49. 1987-12-15
    ➕
    OSBORNE, Julian Richard Paul appointed
    director
  50. 1987-12-15
    ➕
    MORISON BISHOP appointed
    corporate-secretary

Owner dependency

100/100
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.
  • +Long-tenure founder: Senior director has been in place 38 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 75 — succession pressure is live.

Succession & seller-readiness

100/100
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 75 years old. Natural succession window is now.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 38 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 38 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 high ·
Company dissolved
high

Company has been dissolved — it no longer legally exists. Any diligence here is historical only.

Evidence: Dissolved on 2013-12-06

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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

Statusdissolved
Typeltd
Incorporated1987-12-15
Jurisdictionscotland
Primary SIC99999 — SIC 99999

Registered office

Erskine House
68 Queen Street
Edinburgh
EH2 4NN

Filing status

Accounts
Next due: —
Last made up to: 2011-12-31
Confirmation statement
Next due: —
Last: —

Officers (0 active · 12 resigned)

MORISONS SECRETARIES LIMITED→
corporate-secretary · appointed 2002-07-31
View their other companies + combined net worth →
Active
OSBORNE, Julian Richard Paul→
director · ~75y · appointed 1987-12-15
View their other companies + combined net worth →
Active
ALEX MORISON & CO WS→
corporate-secretary · resigned 1990-04-17
Resigned
MORISON BISHOP→
corporate-secretary · appointed 1987-12-15 · resigned 2002-07-31
Resigned
AVERILL, Ian Andrew→
director · ~63y · appointed 1994-02-01 · resigned 1998-07-01
Resigned
CROMBIE, John Somerville Brand→
director · ~97y · resigned 1990-04-17
Resigned
DYCE, Ewen Douglas→
director · ~71y · appointed 1992-01-15 · resigned 1992-11-16
Resigned
GROSSET, Alan George→
director · ~84y · appointed 2000-07-19 · resigned 2010-04-17
Resigned
GROSSET, Alan George→
director · ~84y · appointed 1988-01-05 · resigned 1993-01-26
Resigned
NICOLL, Margaret→
director · ~70y · appointed 1990-04-03 · resigned 1993-09-21
Resigned
OSBORNE, Julian Richard Paul→
director · ~75y · resigned 1990-04-17
Resigned
SMITH, Norman Alan→
director · ~70y · appointed 1993-01-26 · resigned 2001-04-06
Resigned
WILKIE, Alistair David→
director · ~72y · appointed 1988-01-05 · resigned 2000-07-19
Resigned
WILKIE, Stanley Louis→
director · appointed 1988-01-05 · resigned 1990-04-17
Resigned

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

Recent filings (82 total)

gazette-dissolved-compulsory
gazette · GAZ2
2013-12-06
gazette-notice-compulsory
gazette · GAZ1
2013-08-16
accounts-with-accounts-type-dormant
accounts · AA
2012-08-22
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2012-05-15
accounts-with-accounts-type-dormant
accounts · AA
2011-09-28
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2011-05-04
accounts-with-accounts-type-dormant
accounts · AA
2010-09-06
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2010-05-06
termination-director-company-with-name
officers · TM01
2010-05-06
change-corporate-secretary-company-with-change-date
officers · CH04
2010-05-06
accounts-with-accounts-type-dormant
accounts · AA
2009-10-07
legacy
annual-return · 363a
2009-04-21
accounts-with-made-up-date
accounts · AA
2008-10-02
legacy
annual-return · 363a
2008-04-22
accounts-with-made-up-date
accounts · AA
2007-09-13