INNOVATE EAST LOTHIAN LIMITED

📉Decliningactive

SC223347 · ltd · incorporated 2001-09-19

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.

Opportunity decay

drifting distress · 6-months

Drifting toward distress — expect more negotiability in 3–6 months, but also more friction.

· Lifecycle stage drifting downward
· Currently "declining"

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Dec 2024

Net worth

—

book net assets

Opportunity

75/100

Strong

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What this business does

Primary activity: Other business support service activities n.e.c.

Sector: Administrative & support services

Investor take

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 75/100 (strong), bankability 57/100. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 6 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (45/100).

🏦

Refinance opportunity

20 live charges · 6 lenders · oldest 23.3y

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 23.3 years old — likely at or near maturity.
· 6 lenders named — inter-creditor friction likely.
· Legal-friction score 63/100 (high).

Data confidence

Overall: high (84/100)

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

Company profile

address, 1 SIC codes, incorporation date

100

Financials

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

Lenders & charges

20 charges (20/20 with lender, 20/20 with type)

Directors & officers

26 officers (5 active, 26 linked, 20 with DOB)

Ownership & PSC

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

Director network

32 connected companies via shared directors

Filing history

149 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

75/100Strong

PassWatchWorth a lookStrongExceptional

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality

Adequate — check latest filings for context.

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 £1,736,769

Slipped into loss

Moved from profit to loss this 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	—	£11.93M
Profit before tax	£-1.74M	£122.2k
Average employees	0	0

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

filings

Last 90 days

filings

Last 180 days

filings

Counts from Companies House filing history.

Corporate timeline (89 events)Click to expand

2025-08-29
📄
accounts-with-accounts-type-full
accounts · AA
2025-02-20
📄
change-corporate-secretary-company-with-change-date
officers · CH04
2025-02-04
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-02-04
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-02-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-02-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-01-30
➕
MCINALLY, Claire Agnes appointed
director
2025-01-30
➕
THOMSON, Craig Alexander appointed
director
2025-01-30
➖
FLETCHER, Dylan resigned
director
2025-01-30
➖
SMITH, David Niall resigned
director
2024-08-22
📄
accounts-with-accounts-type-full
accounts · AA
2024-04-30
➕
DAKPOE, Prince Yao appointed
director
2024-04-30
➖
CAVILL, John Ivor resigned
director
2024-04-30
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-04-30
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-01-02
📄
change-corporate-secretary-company-with-change-date
officers · CH04
2023-12-27
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2023-12-14
🔒
Charge registered #20
Lender: Lloyds Bank PLC as Agent and Security Trustee
2023-12-13
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-12-12
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-12-12
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2023-12-12
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-09-07
📄
accounts-with-accounts-type-full
accounts · AA
2023-02-07
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-02-07
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-02-01
➕
DIX, Carl Harvey appointed
director
2023-02-01
➖
WRINN, John resigned
director
2022-09-02
📄
accounts-with-accounts-type-full
accounts · AA
2021-11-09
➖
GILMOUR, David Fulton resigned
director
2021-11-09
➕
WRINN, John appointed
director
2021-11-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2021-11-09
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-09-21
🔒
Charge registered #19
Lender: Lloyds Bank PLC as Agent and Security Trustee for Each of the Senior Creditors (As Defined in the Instrument)
2021-03-02
🔒
Charge registered #18
Lender: Lloyds Bank PLC as Security Trustee
2020-12-22
🔒
Charge registered #17
Lender: Lloyds Bank PLC as Security Trustee
2020-01-29
🔒
Charge registered #16
Lender: Lloyds Bank PLC
2019-11-01
🔒
Charge registered #15
Lender: Lloyds Bank PLC as Security Trustee
2016-01-20
➕
CAVILL, John Ivor appointed
director
2016-01-20
➖
BIIF CORPORATE SERVICES LIMITED resigned
corporate-director
2015-04-01
➕
SMITH, David Niall appointed
director
2015-03-31
➖
JACK, Ronald Gilfillan resigned
director
2012-06-28
➖
CAVILL, John Ivor resigned
director
2012-06-28
➕
BIIF CORPORATE SERVICES LIMITED appointed
corporate-director
2011-04-15
🔒
Charge registered #14
Lender: Lloyds Tsb Bank PLC
2011-04-15
🔒
Charge registered #13
Lender: Lloyds Tsb Bank PLC
2011-03-04
➖
CLAPP, Andrew David resigned
director
2011-03-04
➕
GILMOUR, David Fulton appointed
director
2010-08-01
➕
CLAPP, Andrew David appointed
director
2009-10-14
➕
CAVILL, John Ivor appointed
director
2009-10-14
➖
RITCHIE, Alan Campbell resigned
director

Showing most recent 50 of 89 events

Owner dependency

48/100

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.
+Senior director age: Director aged approximately 60 — approaching natural succession window.

Succession & seller-readiness

40/100

Moderate signal

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

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 60. Early succession window.

Red flags

1 low

20 live charges

low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️

Innovate East Lothian (Holdings) Limited

Corporate parent · board control

🏛️

Ranelagh Nominees Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

INNOVATE EAST LOTHIAN LIMITED

This company · SC223347

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

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Innovate East Lothian (Holdings) Limited Corporate entity	—	75–100%	board control75-100% voting · board control	06/04/2016
Ranelagh Nominees Limited Corporate entity	75–100%	—	75-100% shares	06/04/2016

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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AEROFOAM CW LTD→ SC747481 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
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Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

9 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

Incorporated2001-09-19

Jurisdictionscotland

Primary SIC82990 — Other business support service activities n.e.c.

Registered office

C/O Infrastructure Managers Limited 2nd Floor Drum Suite, Saltire Court

20 Castle Terrace

Edinburgh

EH1 2EN

United Kingdom

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-10-13

Last: 2025-09-29