INNOVATE FOODS LIMITED

📈Growthactive

SC116286 · ltd · incorporated 1989-02-16

Investment thesis

Growth-phase business — story-led; valuation sensitive to momentum.

Why interesting: Trading is scaling; acquirers paying for trajectory get disproportionate leverage.

Why risky: Price often leads fundamentals; dependency on founder often high.

🔒Estimated value

—

Upgrade to see

Turnover

£26.99M

year to Dec 2024

Net worth

—

book net assets

Opportunity

74/100

Strong

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What this business does

Primary activity: SIC 10390

Sector: Manufacturing

ALSO REGISTERED FOR

10850Manufacture of prepared meals and dishes

Investor take

Pursue

Active trading company with a 65-year-old founder — textbook succession opportunity.

Opportunity 74/100 (strong), bankability 67/100. Strong seller-intent signal (63/100, director aged 65). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (77/100).

🏦

Refinance opportunity

8 live charges · 3 lenders · oldest 35.8y

45/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Oldest live charge is 35.8 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 38/100 — workable, but lender will want more DD.
· Profitable and stable/growing — lender coverage supportable.

Data confidence

Overall: medium (78/100)

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

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

Lenders & charges

8 charges (8/8 with lender, 8/8 with type)

Directors & officers

15 officers (6 active, 15 linked, 13 with DOB)

Ownership & PSC

1 active PSC(s) of 2 total, 2 with control declared

Director network

Network not yet resolved

Filing history

166 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒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

74/100Strong

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

Some moderate concerns — review flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102

Profitable

Profit before tax £914,183

Turnover YoY

+11%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2024-12-31	2023-12-31
Turnover	£26.99M	£24.32M
Gross profit	£4.03M	£2.97M
Operating profit	£913.2k	£693.2k
Profit before tax	£914.2k	£680.5k
Average employees	10900	9500

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

4 signals 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

filing

• 1 mortgage

Last 90 days

filings

• 4 mortgage
• 1 confirmation-statement
• 1 officers

Last 180 days

filings

• 4 mortgage
• 1 confirmation-statement
• 1 officers

Counts from Companies House filing history.

Corporate timeline (58 events)Click to expand

2026-04-01
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-03-19
🔒
Charge registered #9
Lender: Global Loan Agency Services Gmbh
2026-02-23
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-02-04
📄
mortgage-satisfy-charge-full
mortgage · MR04
2026-02-04
📄
mortgage-satisfy-charge-full
mortgage · MR04
2026-02-04
📄
mortgage-satisfy-charge-full
mortgage · MR04
2026-02-04
🔓
Charge satisfied #8
2026-02-04
🔓
Charge satisfied #7
2026-02-04
🔓
Charge satisfied #6
2025-10-20
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-10-03
➖
SKELDING, Philip John resigned
director
2025-09-30
📄
accounts-with-accounts-type-full
accounts · AA
2025-06-26
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-06-26
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2025-06-02
➕
WEDEL, Roman appointed
secretary
2025-06-02
➖
LOMPE, Holger resigned
director
2025-06-01
➕
WEDEL, Roman appointed
director
2025-04-30
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-04-11
🔒
Charge registered #8
Lender: Wilmington Trust Sp Services (Frankfurt) Gmbh (as Security Agent)
2024-12-10
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-11-15
➖
THOMAS, Marc David resigned
director
2024-09-23
📄
accounts-with-accounts-type-full
accounts · AA
2024-07-11
📄
change-person-secretary-company-with-change-date
officers · CH03
2024-07-11
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-07-11
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-07-11
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-07-11
📄
change-person-director-company-with-change-date
officers · CH01
2024-07-11
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-07-11
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-07-01
➕
JUHNKE, Andreas appointed
director
2024-07-01
➕
LOMPE, Holger appointed
director
2024-07-01
➕
THOMAS, Marc David appointed
director
2024-06-30
➖
BACH, Markus Andreas resigned
director
2024-06-30
➖
BROSS, Matthias Arthur resigned
director
2023-09-19
📄
accounts-with-accounts-type-full
accounts · AA
2023-05-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-05-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-05-08
➕
BACH, Markus Andreas appointed
director
2023-05-08
➕
SKELDING, Philip John appointed
director
2022-11-29
🔒
Charge registered #7
Lender: Wilmington Trust Sp Services (Frankfurt) Gmbh (as Security Agent)
2020-08-17
🔒
Charge registered #6
Lender: Wilmington Trust Sp Services (Frankfurt) Gmbh (as Security Agent)
2020-08-12
🔓
Charge satisfied #2
2020-08-03
🔒
Charge registered #5
Lender: The Royal Bank of Scotland PLC
2020-07-13
➕
BROSS, Matthias Arthur appointed
director
2020-07-13
➖
WEDEL, Roman resigned
director
2020-02-07
➕
DERVIEUX, Frederic appointed
director
2020-02-07
➖
DUMBRECK, Siobhan Grainne resigned
director
2020-02-07
➕
WEDEL, Roman appointed
director
2020-01-24
🔓
Charge satisfied #4
2019-01-31
➖
DUMBRECK, James Grant resigned
director

Showing most recent 50 of 58 events

Owner dependency

55/100

Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS

-4 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 65 — succession pressure is live.

Succession & seller-readiness

50/100

Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS

primaryFounder aged 63+: Senior director is approximately 65. Approaching typical UK retirement age — succession thinking likely.

Red flags

2 med ·

2 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: LOMPE, Holger resigned 2025-06-02; SKELDING, Philip John resigned 2025-10-03

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

Frostkrone Uk Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Frostkrone Uk Limited

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

INNOVATE FOODS LIMITED

This company · SC116286

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
Frostkrone Uk Limited Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	07/02/2020

1 historic (ceased) PSC

Mr Anthony Miles Dumbreckceased 07/02/2020· 75-100% shares

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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PATRON SAINT WHISKY LTD→ SC786888 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
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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

Incorporated1989-02-16

Jurisdictionscotland

Primary SIC10390 — SIC 10390

Registered office

Barncraig Boreland Road

Dysart

Kirkcaldy

Fife

KY1 2YG

Scotland

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2027-03-01

Last: 2026-02-15