MACKAY STEELWORK & CLADDING LIMITED

🌳Matureactive
SC161195 · ltd · incorporated 1995-10-25
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jul 2025
Net worth
£3.98M
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Manufacture of metal structures and parts of structures
Sector: Manufacturing
ALSO REGISTERED FOR
  • 43910Roofing activities
Investor take
Pursue
Strong opportunity: asset-holding vehicle with exceptional profile and bankable structure.

Opportunity 82/100 (exceptional), bankability 85/100. Strong seller-intent signal (80/100, director aged 58). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -52% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

2 live charges · oldest 27.8y

45/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 27.8 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: high (85/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile
address, 2 SIC codes, incorporation date
100
Financials
3 years of iXBRL accounts extracted + narrative notes parsed
95
Lenders & charges
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
9 officers (3 active, 9 linked, 5 with DOB)
81
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
114 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £3,983,046
Net assets shrinking
Down £3,090,689 YoY
Cash draining
Cash down 52% YoY
Cash YoY
-52%
Year on year

Key financials

3 years extracted from filed iXBRL accounts
Cash
£2.7m
↓ 52% YoY
Net Worth
£4.0m
↓ 44% YoY
Current Assets
£4.6m
↓ 35% YoY
Current Liabilities
—
£0£1.4m£2.8m£4.2m£5.7m£7.1mJul 2023Jul 2024Jul 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-07-312024-07-312023-07-31
Total assets£4.16M£7.26M£6.43M
Current assets£4.55M£7.03M£6.82M
Cash£2.67M£5.62M£4.75M
Debtors£1.77M£1.23M£2.06M
Net assets£3.98M£7.07M£6.26M

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
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
2
filings
  • • 1 accounts
  • • 1 officers
Counts from Companies House filing history.
Corporate timeline (35 events)Click to expand
  1. 2026-04-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2026-01-07
    📄
    change-person-director-company-with-change-date
    officers · CH01
  3. 2025-03-11
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  4. 2025-01-03
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  5. 2025-01-03
    🔓
    Charge satisfied #1
  6. 2024-12-23
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  7. 2024-12-23
    🔓
    Charge satisfied #2
  8. 2024-04-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2023-04-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2022-04-28
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  11. 2020-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2020-04-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  13. 2019-04-29
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  14. 2018-04-26
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  15. 2017-04-25
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2016-04-25
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  17. 2015-10-29
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  18. 2013-01-30
    ➖
    MACKAY, William Graham resigned
    director
  19. 2005-08-03
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Scotland
  20. 2005-07-29
    ➕
    MACKAY, Neil Hugh appointed
    director
  21. 2005-07-29
    ➖
    PHILLIPS, Timothy Richard Harvey resigned
    secretary
  22. 2005-07-29
    ➖
    KYDD, Michael Burns resigned
    director
  23. 2005-07-29
    ➖
    YORK, John Stephen resigned
    director
  24. 2005-07-01
    ➕
    MACKAY, Neil appointed
    secretary
  25. 2001-12-28
    ➕
    MACKAY, Steven Findlay appointed
    director
  26. 2001-12-28
    ➕
    MACKAY, William Graham appointed
    director
  27. 1998-07-29
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  28. 1998-06-26
    ➕
    PHILLIPS, Timothy Richard Harvey appointed
    secretary
  29. 1998-06-26
    ➖
    LEDINGHAM CHALMERS resigned
    corporate-nominee-secretary
  30. 1998-06-26
    ➕
    KYDD, Michael Burns appointed
    director
  31. 1998-06-26
    ➕
    YORK, John Stephen appointed
    director
  32. 1998-06-26
    ➖
    DURANO LIMITED resigned
    corporate-director
  33. 1995-10-25
    🏢
    Company incorporated
    As MACKAY STEELWORK & CLADDING LIMITED
  34. 1995-10-25
    ➕
    LEDINGHAM CHALMERS appointed
    corporate-nominee-secretary
  35. 1995-10-25
    ➕
    DURANO LIMITED appointed
    corporate-director

Owner dependency

99/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Founder name in company name: Company name contains director surname "MACKAY" — strong identity link between founder and business.
  • +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 58 — approaching natural succession window.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

76/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 58. Early succession window.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 31 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

Steelwork & Cladding Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
Steelwork & Cladding Ltd
Corporate parent · holds 75-100% shares · board control
ultimate parent
⬇
MACKAY STEELWORK & CLADDING LIMITED
This company · SC161195

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%
NameSharesVoting rightsNature of controlNotified
Steelwork & Cladding Ltd
Corporate entity
75–100%
75–100%board controlsig. influence75-100% shares · 75-100% voting · board control · significant influence · firm interest06/04/2016

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 →

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

6 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
Incorporated1995-10-25
Jurisdictionscotland
Primary SIC25110 — Manufacture of metal structures and parts of structures

Registered office

Delny Industrial Estate
Invergordon
Ross-Shire
IV18 0QW

Filing status

Accounts
Next due: 2027-04-30
Last made up to: 2025-07-31
Confirmation statement
Next due: 2026-11-09
Last: 2025-10-26

Officers (3 active · 6 resigned)

MACKAY, Neil→
secretary · appointed 2005-07-01
View their other companies + combined net worth →
Active
MACKAY, Neil Hugh→
director · ~55y · appointed 2005-07-29
View their other companies + combined net worth →
Active
MACKAY, Steven Findlay→
director · ~58y · appointed 2001-12-28
View their other companies + combined net worth →
Active
PHILLIPS, Timothy Richard Harvey→
secretary · appointed 1998-06-26 · resigned 2005-07-29
Resigned
LEDINGHAM CHALMERS→
corporate-nominee-secretary · appointed 1995-10-25 · resigned 1998-06-26
Resigned
KYDD, Michael Burns→
director · ~76y · appointed 1998-06-26 · resigned 2005-07-29
Resigned
MACKAY, William Graham→
director · ~86y · appointed 2001-12-28 · resigned 2013-01-30
Resigned
YORK, John Stephen→
director · ~80y · appointed 1998-06-26 · resigned 2005-07-29
Resigned
DURANO LIMITED→
corporate-director · appointed 1995-10-25 · resigned 1998-06-26
Resigned

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

Mortgages & charges

2
Total charges
0
Outstanding
0
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Standard security1 property03/08/200523/12/2024
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Floating charge1 property29/07/199803/01/2025

Recent filings (114 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-04-27
change-person-director-company-with-change-date
officers · CH01
2026-01-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-27
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-03-11
mortgage-satisfy-charge-full
mortgage · MR04
2025-01-03
mortgage-satisfy-charge-full
mortgage · MR04
2024-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-04-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-30
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-27
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-04-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-11-06