ZULCO LIMITED
🌳Matureactive
SC206358 · ltd · incorporated 2000-04-17
Investment thesis
Property vehicle with leveraged stack — refinance / partial-release angle.
Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.
Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 25.8y old — refinance window within 12 months
What changed my view
Last 30 days
No material changes in the last 30 days.
Last 90 days
No snapshot from 90 days ago — start tracking from today.
Last 180 days
No snapshot from 180 days ago — start tracking from today.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2024
Net worth
£577.7k
book net assets
Opportunity
64/100
Worth a look
What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
Investor take
Special-situation opportunityDistressed property with salvageable qualities — special-situations priority.
Opportunity 64/100 (worth a look), bankability 35/100. High owner-dependency — earn-out structure likely required for clean transition. Biggest value-creation lever: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: share sale to pe / searcher (45/100). Current lenders should be on monthly review.
🏦
Refinance opportunity
5 live charges · 2 lenders · oldest 25.8y
50/100
clean up first
Refinance viable after a tidy-up — address the highlighted items first.
- · Oldest live charge is 25.8 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · Legal-friction score 25/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (75/100)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
75
Lenders & charges
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
8 officers (5 active, 8 linked, 4 with DOB)
80
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
17 connected companies via shared directors
90
Filing history
80 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒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
64/100Worth a look
PassWatchWorth a lookStrongExceptional
Mixed signal. Worth opening the full target workup before deciding to pursue.
Business quality
45
Concerning — overdue filings or status flags present.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
49
Multiple red flags — proceed with caution.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £577,682
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
£578k
↑ 6.8% YoY
Current Assets
£34k
↓ 5.8% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-06-30 | 2023-06-30 |
|---|---|---|
| Total assets | £639.8k | £643.9k |
| Current assets | £34.5k | £36.6k |
| Net assets | £577.7k | £540.7k |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
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 (34 events)Click to expand
- 2025-04-07📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-10-17📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-04-11📍change-sail-address-company-with-old-address-new-addressaddress · AD02
- 2023-03-29📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-03-23📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-03-31📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-04-08📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2019-11-29📄appoint-person-director-company-with-name-dateofficers · AP01
- 2019-11-15➕ADAM, Sheryar Yousuf appointeddirector
- 2019-08-28📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2019-02-07📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2018-02-16📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2017-08-18📄appoint-person-director-company-with-name-dateofficers · AP01
- 2017-08-17➕OKHAI, Zulekha Ibrahim appointeddirector
- 2017-03-29📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2016-10-24📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2016-04-08📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2015-07-22📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2014-09-15🔓Charge satisfied #1
- 2008-08-19🔒Charge registered #5Lender: Royal Bank of Scotland PLC
- 2008-07-16➕ADAM, Sheryar appointedsecretary
- 2008-07-16➖HANSLOD, Talkeen resignedsecretary
- 2008-05-16🔒Charge registered #4Lender: Royal Bank of Scotland PLC
- 2002-03-12🔒Charge registered #3Lender: The Royal Bank of Scotland PLC
- 2000-11-01🔒Charge registered #2Lender: The Royal Bank of Scotland PLC
- 2000-09-08🔒Charge registered #1Lender: The Royal Bank of Scotland PLC
- 2000-04-28➕HANSLOD, Talkeen appointeddirector
- 2000-04-28➕OKHAI, Yusuf Ibrahim appointeddirector
- 2000-04-28➕HANSLOD, Talkeen appointedsecretary
- 2000-04-28➖DM COMPANY SERVICES LIMITED resignedcorporate-nominee-secretary
- 2000-04-28➖DM DIRECTOR LIMITED resignedcorporate-nominee-director
- 2000-04-17🏢Company incorporatedAs ZULCO LIMITED
- 2000-04-17➕DM COMPANY SERVICES LIMITED appointedcorporate-nominee-secretary
- 2000-04-17➕DM DIRECTOR LIMITED appointedcorporate-nominee-director
Owner dependency
73/100
High — earn-out structure requiredMaterial 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 26 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 85 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
85/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 70+: Senior director is approximately 85 years old. Natural succession window is now.
- primary20+ year tenure: Director in role 26 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 26 years old and no new directors in the last 3 years — succession not yet being planned internally.
Red flags
2 high ·Accounts overdue
highStatutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.
Evidence: Next due: 2026-03-31
Confirmation statement overdue
highAnnual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.
Evidence: Next due: 2026-04-22
🔒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 →Similar companies
Active · Property · DD postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| ZARS LIMITED→ SC230094 · est 2002 | £3.33M £2.83M–£3.83M | — | £3.33M | — | 24y | 83 | 76y |
| J & E NOMINEES LIMITED→ SC237007 · est 2002 | £3.06M £2.60M–£3.52M | — | £3.06M | — | 23y | 83 | 66y |
| ABZCO LTD.→ SC223809 · est 2001 | £655.5k £557.2k–£753.9k | — | £655.5k | — | 24y | 82 | 77y |
| MNA (SCOTLAND) LIMITED→ SC283813 · est 2005 | £637.9k £542.2k–£733.6k | — | £637.9k | — | 21y | 83 | 60y |
| ENGINEERING SPREADSHEETS LTD.→ SC302290 · est 2006 | £620.6k £527.5k–£713.7k | — | £620.6k | — | 20y | 82 | 66y |
| FLAT HOMES LIMITED→ SC231996 · est 2002 | £459.7k £390.7k–£528.6k | — | £459.7k | — | 24y | 82 | 73y |
| JAMES KEILLER DEVELOPMENTS LIMITED→ SC263698 · est 2004 | £298.7k £253.9k–£343.5k | — | £298.7k | — | 22y | 82 | 73y |
| A & K PROPERTIES LIMITED→ SC199663 · est 1999 | £78.2k £66.4k–£89.9k | — | £78.2k | — | 26y | 82 | 71y |
| STATION WORKS PROPERTIES LTD.→ SC083127 · est 1983 | £39.9k £33.9k–£45.9k | — | £39.9k | — | 43y | 83 | 79y |
| ASSETFAIR LIMITED→ SC195393 · est 1999 | £39.4k £33.5k–£45.3k | — | £39.4k | — | 27y | 82 | 74y |
| GILLANDER PROPERTIES LIMITED→ SC298431 · est 2006 | £38.8k £33.0k–£44.7k | — | £38.8k | — | 20y | 82 | 74y |
| FIRST CHOICE LETS LIMITED→ SC281124 · est 2005 | £36.5k £31.0k–£41.9k | — | £36.5k | — | 21y | 82 | 65y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
11 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
Incorporated2000-04-17
Jurisdictionscotland
Primary SIC68100 — Buying and selling of own real estate
Registered office
Shabnam Clarendon Drive
448 Perth Road
Dundee
DD2 1JU
Scotland
Filing status
Accounts
Next due: 2026-03-31OVERDUE
Last made up to: 2024-06-30
Confirmation statement
Next due: 2026-04-22OVERDUE
Last: 2025-04-08
Officers (5 active · 3 resigned)
Active
ADAM, Sheryar Yousuf→
Activedirector · ~48y · appointed 2019-11-15
View their other companies + combined net worth →
HANSLOD, Talkeen→
Activedirector · ~53y · appointed 2000-04-28
View their other companies + combined net worth →
OKHAI, Yusuf Ibrahim→
Activedirector · ~56y · appointed 2000-04-28
View their other companies + combined net worth →
OKHAI, Zulekha Ibrahim→
Activedirector · ~85y · appointed 2017-08-17
View their other companies + combined net worth →
HANSLOD, Talkeen→
Resignedsecretary · appointed 2000-04-28 · resigned 2008-07-16
DM COMPANY SERVICES LIMITED→
Resignedcorporate-nominee-secretary · appointed 2000-04-17 · resigned 2000-04-28
DM DIRECTOR LIMITED→
Resignedcorporate-nominee-director · appointed 2000-04-17 · resigned 2000-04-28
Click a director name to see their full track record across all companies.
Mortgages & charges
5
Total charges
4
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Royal Bank of Scotland PLC | Standard security | 1 property | 19/08/2008 | — | |
| outstanding | Lloyds Banking Group Royal Bank of Scotland PLC | Standard security | 1 property | 16/05/2008 | — | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 12/03/2002 | — | |
| outstanding | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 01/11/2000 | — | |
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Bond & floating charge | 1 property | 08/09/2000 | 15/09/2014 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (80 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-08
accounts-with-accounts-type-micro-entity
accounts · AA
2025-04-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-04-08
accounts-with-accounts-type-micro-entity
accounts · AA
2023-10-17
change-sail-address-company-with-old-address-new-address
address · AD02
2023-04-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-04-10
accounts-with-accounts-type-micro-entity
accounts · AA
2023-03-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-04-08
accounts-with-accounts-type-micro-entity
accounts · AA
2022-03-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-04-08
accounts-with-accounts-type-micro-entity
accounts · AA
2021-03-31
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-04-08
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2020-04-08
appoint-person-director-company-with-name-date
officers · AP01
2019-11-29
accounts-with-accounts-type-micro-entity
accounts · AA
2019-08-28