I.L.M. (HIGHLAND)

🌳Matureactive

SC150500 · private-limited-guarant-nsc-limited-exemption · incorporated 1994-04-22

Investment thesis

Looks cheap but ownership + security both unclear — probable value trap.

Why interesting: Headline metrics may be attractive.

Why risky: No PSC visibility combined with multiple live charges; transacting likely slow and expensive.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 23.8y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

77/100

Strong

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What this business does

Primary activity: SIC 38110

Sector: Water supply & waste

ALSO REGISTERED FOR

39000SIC 39000
43390Other building completion and finishing
88100Social work activities without accommodation for the elderly and disabled

Investor take

Pursue

Active trading company with a 78-year-old founder — textbook succession opportunity.

Opportunity 77/100 (strong), bankability 80/100. Strong seller-intent signal (63/100, director aged 78). 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 (65/100).

🏦

Refinance opportunity

2 live charges · oldest 23.8y

65/100

clean up first

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

· Oldest live charge is 23.8 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 38/100 — workable, but lender will want more DD.

Data confidence

Overall: low (50/100)

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

Company profile

address, 4 SIC codes, incorporation date

100

Financials

No iXBRL financials extracted

Lenders & charges

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

Directors & officers

48 officers (9 active, 48 linked, 42 with DOB)

Ownership & PSC

No PSCs filed (unusual — worth investigating)

Director network

4 connected companies via shared directors

Filing history

181 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

77/100Strong

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.

Recent activity

Last 30 days

filings

• 1 change-of-constitution
• 1 officers
• 1 incorporation

Last 90 days

filings

• 3 officers
• 1 change-of-constitution
• 1 incorporation

Last 180 days

filings

• 8 officers
• 1 change-of-constitution
• 1 incorporation

Counts from Companies House filing history.

Corporate timeline (113 events)Click to expand

2026-04-20
📄
statement-of-companys-objects
change-of-constitution · CC04
2026-04-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-17
📄
memorandum-articles
incorporation · MA
2026-02-11
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-02-05
➕
WALKER, David Joss appointed
director
2026-02-05
➖
WAUGH, Jamie resigned
director
2026-02-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-01-20
➖
WILKINSON, Thomas David resigned
director
2025-12-17
📄
accounts-with-accounts-type-group
accounts · AA
2025-12-02
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2025-12-01
➕
SMITH, Karen Ann appointed
secretary
2025-11-19
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-11-18
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2025-11-18
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-11-18
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-11-12
➕
LYON, Inglis Edward appointed
director
2025-11-12
➖
ROSS, Alexandra resigned
secretary
2025-11-12
➖
HOOPER, Kate Vw resigned
director
2025-11-12
➖
MACLEAN, Donald resigned
director
2024-12-11
📄
accounts-with-accounts-type-group
accounts · AA
2024-11-12
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-11-07
➕
DOWNES, Sarah appointed
director
2024-09-19
📄
memorandum-articles
incorporation · MA
2024-08-22
📄
resolution
resolution · RESOLUTIONS
2024-08-21
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-08-15
➖
MACKENZIE, Jennifer Elizabeth resigned
director
2024-08-02
📄
statement-of-companys-objects
change-of-constitution · CC04
2024-02-08
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-02-08
🔓
Charge satisfied #1
2023-11-29
📄
accounts-with-accounts-type-group
accounts · AA
2023-11-07
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-11-02
➕
MACLEOD, Martin Mackenzie appointed
director
2023-02-28
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-02-02
➕
HOOPER, Kate Vw appointed
director
2022-11-21
📄
accounts-with-accounts-type-group
accounts · AA
2022-11-03
➕
MACLEAN, Donald appointed
director
2021-11-04
➕
MACKENZIE, Jennifer Elizabeth appointed
director
2021-08-19
➕
MARTIN, Donald John appointed
director
2021-08-12
➖
STEELE, Ian Kenneth resigned
director
2020-11-05
➖
TUDHOPE, William Kirk Mackenzie resigned
director
2020-02-17
➖
CHISHOLM, Duncan Sutherland resigned
director
2019-05-16
➕
ROSS, Alexandra appointed
secretary
2019-01-31
➖
CAMPBELL-LLOYD, Sheila Torley resigned
director
2018-09-28
➖
WARNER, Jacolyn Shirley resigned
secretary
2018-08-23
➕
CHISHOLM, Duncan Sutherland appointed
director
2017-11-02
➕
FRASER, Donald appointed
director
2017-11-02
➕
MCLENNAN, Okain John appointed
director
2017-11-02
➖
EVANS, Michael Niven resigned
director
2017-11-02
➖
INGLIS, Thomas resigned
director
2017-11-02
➕
WAUGH, Jamie appointed
director

Showing most recent 50 of 113 events

Owner dependency

55/100

Moderate — manageable with handover

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

FACTORS

-8 active directors: Broader management team in place — suggests transferable governance.
+Founder age: Director aged approximately 78 — succession pressure is live.

Succession & seller-readiness

60/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

primaryFounder aged 70+: Senior director is approximately 78 years old. Natural succession window is now.

Red flags

1 med ·

5 director resignations in last 12 months

medium

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

Evidence: ROSS, Alexandra resigned 2025-11-12; HOOPER, Kate Vw resigned 2025-11-12; MACLEAN, Donald resigned 2025-11-12

🔒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

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.

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Company details

Statusactive

Typeprivate-limited-guarant-nsc-limited-exemption

Incorporated1994-04-22

Jurisdictionscotland

Primary SIC38110 — SIC 38110

Registered office

Unit 1g

Teaninich Industrial Estate

Alness

Ross-Shire

IV17 0XS

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2026-05-06

Last: 2025-04-22