B CORMACK & SON LIMITED

💤Zombieactive
SC236297 · ltd · incorporated 2002-09-03
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Sept 2025
Net worth
£222.4k
book net assets
Opportunity
82/100
Exceptional
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What this business does
Primary activity: Freight transport by road
Sector: Transportation & storage
Investor take
Pursue
Active trading company with a 62-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 62). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -45% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 21.1y

45/100
under pressure

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

  • · Oldest live charge is 21.1 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (76/100)

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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
5 officers (1 active, 5 linked, 2 with DOB)
78
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
66 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 £222,440
Cash draining
Cash down 45% YoY
Cash YoY
-45%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£57k
↓ 45% YoY
Net Worth
£222k
↑ 26% YoY
Current Assets
£177k
↓ 24% YoY
Current Liabilities
—
£0£47k£93k£140k£186k£233kSept 2024Sept 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-09-302024-09-30
Total assets£954.8k£776.2k
Current assets£176.5k£232.9k
Cash£57.4k£103.4k
Debtors£109.3k£122.0k
Net assets£222.4k£176.9k

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
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2025-12-18
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2025-01-13
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2024-05-07
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  4. 2024-02-09
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  5. 2023-10-31
    ➖
    FINLAYSON, Kirstine Elizabeth resigned
    secretary
  6. 2023-02-06
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  7. 2021-12-08
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  8. 2021-01-12
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  9. 2020-02-05
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  10. 2019-03-06
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  11. 2018-05-16
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  12. 2017-01-04
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  13. 2016-02-25
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2015-10-07
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2015-06-09
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2015-03-24
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  17. 2007-04-05
    ➖
    FINLAYSON, Kirstine Elizabeth resigned
    director
  18. 2005-03-10
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  19. 2002-09-09
    ➕
    CORMACK, Brian Hugh appointed
    director
  20. 2002-09-09
    ➕
    FINLAYSON, Kirstine Elizabeth appointed
    secretary
  21. 2002-09-09
    ➖
    PF & S ( SECRETARIES) LIMITED resigned
    corporate-nominee-secretary
  22. 2002-09-09
    ➕
    FINLAYSON, Kirstine Elizabeth appointed
    director
  23. 2002-09-09
    ➖
    PF & S (DIRECTORS) LIMITED resigned
    corporate-nominee-director
  24. 2002-09-03
    🏢
    Company incorporated
    As B CORMACK & SON LIMITED
  25. 2002-09-03
    ➕
    PF & S ( SECRETARIES) LIMITED appointed
    corporate-nominee-secretary
  26. 2002-09-03
    ➕
    PF & S (DIRECTORS) LIMITED appointed
    corporate-nominee-director

Owner dependency

100/100
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
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Founder name in company name: Company name contains director surname "CORMACK" — 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 62 — approaching natural succession window.

Succession & seller-readiness

85/100
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 62. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 24 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.)

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Brian Hugh Cormack
Individual · British · DOB 12/1964 · age 62
75–100%
75–100%75-100% shares · 75-100% voting06/04/2016

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

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.

See pricing →

Company details

Statusactive
Typeltd
Incorporated2002-09-03
Jurisdictionscotland
Primary SIC49410 — Freight transport by road

Registered office

Easter Kinbeachie Lodge
Culbokie
Dingwall
Ross-Shire
IV7 8LS

Filing status

Accounts
Next due: 2027-06-30
Last made up to: 2025-09-30
Confirmation statement
Next due: 2026-07-04
Last: 2025-06-20

Officers (1 active · 4 resigned)

CORMACK, Brian Hugh→
director · ~62y · appointed 2002-09-09
View their other companies + combined net worth →
Active
FINLAYSON, Kirstine Elizabeth→
secretary · appointed 2002-09-09 · resigned 2023-10-31
Resigned
PF & S ( SECRETARIES) LIMITED→
corporate-nominee-secretary · appointed 2002-09-03 · resigned 2002-09-09
Resigned
FINLAYSON, Kirstine Elizabeth→
director · ~56y · appointed 2002-09-09 · resigned 2007-04-05
Resigned
PF & S (DIRECTORS) LIMITED→
corporate-nominee-director · appointed 2002-09-03 · resigned 2002-09-09
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Bond & floating charge1 property10/03/2005—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (66 total)

accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-12-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-06-20
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-01-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-07-24
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-05-07
termination-secretary-company-with-name-termination-date
officers · TM02
2024-02-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-08-14
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-02-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-08-24
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-12-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-08-24
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-01-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-09-09
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-02-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-09-06