MACKAY'S LTD.

🌳Matureactive

SC155016 · ltd · incorporated 1994-12-19

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Dec 2024

Net worth

—

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: SIC 10390

Sector: Manufacturing

Investor take

Pursue

Active trading company. Family succession underway — not a classic acquisition target.

Opportunity 80/100 (exceptional), bankability 67/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 11 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: family or management succession (50/100).

🏦

Refinance opportunity

14 live charges · 10 lenders · oldest 31.3y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 31.3 years old — likely at or near maturity.
· 10 lenders named — inter-creditor friction likely.
· Legal-friction score 48/100 (high).

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, 1 SIC codes, incorporation date

100

Financials

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

Lenders & charges

14 charges (14/14 with lender, 14/14 with type)

Directors & officers

12 officers (5 active, 12 linked, 10 with DOB)

Ownership & PSC

1 active PSC(s) of 3 total, 3 with control declared

Director network

Network not yet resolved

Filing history

138 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

80/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

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 102

Loss-making

Loss before tax £1,222,741

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
Profit before tax	£-1.22M	£-2.81M
Average employees	134	12900

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

🔒Filing-note intelligence

2 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 confirmation-statement

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filing

• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (67 events)Click to expand

2025-09-30
📄
accounts-with-accounts-type-full
accounts · AA
2025-05-19
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-05-13
🔒
Charge registered #14
Lender: The Royal Bank of Scotland PLC
2024-09-26
📄
accounts-with-accounts-type-full
accounts · AA
2024-05-23
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-22
🔒
Charge registered #13
Lender: Permian Industries Limited (The Lender) (as Defined in the Instrument Evidencing the Charge Accompanying This Form MR01)
2024-05-14
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-09
🔒
Charge registered #12
Lender: Permian Industries Limited
2024-03-28
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-28
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-28
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-28
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-28
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-28
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-28
🔓
Charge satisfied #11
2024-03-28
🔓
Charge satisfied #10
2024-03-28
🔓
Charge satisfied #9
2024-03-28
🔓
Charge satisfied #8
2024-03-28
🔓
Charge satisfied #7
2024-03-28
🔓
Charge satisfied #6
2023-09-29
📄
accounts-with-accounts-type-full
accounts · AA
2023-09-22
📄
memorandum-articles
incorporation · MA
2023-09-22
📄
resolution
resolution · RESOLUTIONS
2023-09-22
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-09-22
📄
capital-allotment-shares
capital · SH01
2023-09-22
📄
withdrawal-of-a-person-with-significant-control-statement
persons-with-significant-control · PSC09
2023-09-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-09-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-09-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-09-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-09-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-09-11
➕
MITCHELL, Andrew appointed
director
2023-09-11
➕
MITCHELL, Bruce appointed
director
2023-09-11
➕
MITCHELL, Scott appointed
director
2023-09-11
➖
ARMOUR, Neil Anthony resigned
director
2023-09-11
➖
GRANT, Conrad Paul resigned
director
2023-09-11
➖
GRANT, Helen May resigned
director
2023-06-29
🔒
Charge registered #11
Lender: Hsbc UK Bank PLC
2021-04-05
➕
ARMOUR, Neil Anthony appointed
director
2020-07-03
🔒
Charge registered #10
Lender: Scottish Enterprise
2020-05-02
➖
WILLIAMSON, Alan Norval resigned
director
2013-07-12
🔒
Charge registered #9
Lender: Hsbc Equipment Finance (UK) Limited
2012-06-01
➕
GRANT, Martin Conrad appointed
secretary
2012-06-01
➖
MACGREGOR, Alexander Rankin resigned
secretary
2012-06-01
➖
MACGREGOR, Alexander Rankin resigned
director
2011-04-28
🔓
Charge satisfied #1
2011-04-04
🔒
Charge registered #8
Lender: Hsbc Bank PLC
2011-04-02
🔓
Charge satisfied #5
2011-04-02
🔓
Charge satisfied #4
2011-04-02
🔓
Charge satisfied #3

Showing most recent 50 of 67 events

Owner dependency

73/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

-4 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 15 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 80 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

33/100

Weak signal

Limited succession signal. Not a near-term off-market candidate.

SIGNALS

primaryFamily succession underway: Not a takeover target — MITCHELL, Andrew (same surname) appointed 2023-09-11. Pattern consistent with intra-family handover.
primaryFounder aged 70+: Senior director is approximately 80 years old. Natural succession window is now.
secondary12+ year tenure: Director in role 15 years.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·

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

Permian Industries Limited holds majority control (50-75%). Likely parent but not wholly-owned.

🏛️

Permian Industries Limited

Corporate parent · holds 50-75% shares · board control

majority

⬇

MACKAY'S LTD.

This company · SC155016

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner

Name	Shares	Voting rights	Nature of control	Notified
Permian Industries Limited Corporate entity	50–75%	50–75%	board control50-75% shares · 50-75% voting · board control	11/09/2023

2 historic (ceased) PSCs

Mr Conrad Paul Grantceased 11/11/2019· 25-50% shares · 25-50% voting
Mrs Helen May Grantceased 11/11/2019· 25-50% shares · 25-50% voting

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

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

🔒Tailored diligence questions

10 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

Incorporated1994-12-19

Jurisdictionscotland

Primary SIC10390 — SIC 10390

Registered office

Unit 4 James Chalmers Road

Kirkton Industrial Estate

Arbroath

Angus

DD11 3LR

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2027-01-02

Last: 2025-12-19