ADAM MILLAR & SONS LTD.
🌳Matureactive
SC245027 · ltd · incorporated 2003-03-04
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 Mar 2025
Net worth
£262.7k
book net assets
Opportunity
82/100
Exceptional
What this business does
Primary activity: Manufacture of metal structures and parts of structures
Sector: Manufacturing
Investor take
PursueStrong opportunity: active trading company with exceptional profile and acceptable with review structure.
Opportunity 82/100 (exceptional), bankability 67/100. Strong seller-intent signal (70/100, director aged 58). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
4 live charges · 3 lenders · oldest 22.9y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 22.9 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Legal-friction score 35/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (77/100)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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
6 officers (3 active, 6 linked, 3 with DOB)
80
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
69 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 · FRS 105 (micro)Positive net assets
Net assets £262,749
Net assets shrinking
Down £8,291 YoY
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
£263k
↓ 3.1% YoY
Current Assets
£102k
↓ 44% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 105 (micro)| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £285.1k | £298.8k |
| Current assets | £102.4k | £183.1k |
| Net assets | £262.7k | £271.0k |
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
0
filings
Last 90 days
1
filing
- • 1 confirmation-statement
Last 180 days
3
filings
- • 1 confirmation-statement
- • 1 officers
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (30 events)Click to expand
- 2026-01-14📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-12-31➖MILLAR, Andrew resigneddirector
- 2025-12-01📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-12-19📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-02-06📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-12-22📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-12-23📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-11-09📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2020-12-22📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2019-12-17📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2018-06-21📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2017-12-18📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2016-12-22📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2016-04-06📄annual-return-company-with-made-up-date-full-list-shareholdersannual-return · AR01
- 2015-12-18📄accounts-with-accounts-type-total-exemption-smallaccounts · AA
- 2015-07-07📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2015-06-17🔒Charge registered #4Lender: Bank of Scotland PLC
- 2015-02-13🔓Charge satisfied #2
- 2008-05-26➕MILLAR, Andrew appointeddirector
- 2007-11-01🔒Charge registered #3Lender: Lloyds Tsb Scotland PLC
- 2006-04-21🔒Charge registered #2Lender: Rbs Invoice Finance Limited
- 2005-04-29➕ROSS, Gail Elizabeth appointeddirector
- 2003-06-04🔒Charge registered #1Lender: Lloyds Tsb Scotland PLC
- 2003-03-04🏢Company incorporatedAs ADAM MILLAR & SONS LTD.
- 2003-03-04➕MILLAR, Linda appointedsecretary
- 2003-03-04➕BRIAN REID LTD. appointedcorporate-nominee-secretary
- 2003-03-04➖BRIAN REID LTD. resignedcorporate-nominee-secretary
- 2003-03-04➕MILLAR, Andrew appointeddirector
- 2003-03-04➕STEPHEN MABBOTT LTD. appointedcorporate-nominee-director
- 2003-03-04➖STEPHEN MABBOTT LTD. resignedcorporate-nominee-director
Owner dependency
91/100
Critical — business is the founderThe 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 "MILLAR" — strong identity link between founder and business.
- +Long-tenure founder: Senior director has been in place 21 years — deep operational knowledge concentrated in one person.
- +Senior director age: Director aged approximately 58 — approaching natural succession window.
Succession & seller-readiness
76/100
Likely off-market candidateStrong 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 21 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 23 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
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Andrew Millar Individual · British · DOB 12/1974 · age 52 | 25–50% | — | 25-50% shares | 09/02/2017 |
Ms Gail Elizabeth Ross Individual · British · DOB 11/1968 · age 58 | 25–50% | — | 25-50% shares | 09/02/2017 |
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
Incorporated2003-03-04
Jurisdictionscotland
Primary SIC25110 — Manufacture of metal structures and parts of structures
Registered office
21 Forbes Place
Paisley
PA1 1UT
Scotland
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-01-23
Last: 2026-01-09
Officers (3 active · 3 resigned)
Active
MILLAR, Andrew→
Activedirector · ~52y · appointed 2008-05-26
View their other companies + combined net worth →
ROSS, Gail Elizabeth→
Activedirector · ~58y · appointed 2005-04-29
View their other companies + combined net worth →
BRIAN REID LTD.→
Resignedcorporate-nominee-secretary · appointed 2003-03-04 · resigned 2003-03-04
MILLAR, Andrew→
Resigneddirector · ~78y · appointed 2003-03-04 · resigned 2025-12-31
STEPHEN MABBOTT LTD.→
Resignedcorporate-nominee-director · appointed 2003-03-04 · resigned 2003-03-04
Click a director name to see their full track record across all companies.
Mortgages & charges
4
Total charges
3
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 17/06/2015 | — | |
| outstanding | Lloyds Banking Group Lloyds Tsb Scotland PLC | Standard security | 1 property | 01/11/2007 | — | |
| satisfied | NatWest Group Rbs Invoice Finance Limited | Floating charge | 1 property | 21/04/2006 | 13/02/2015 | |
| outstanding | Lloyds Banking Group Lloyds Tsb Scotland PLC | Bond & floating charge | 1 property | 04/06/2003 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (69 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-01-23
termination-director-company-with-name-termination-date
officers · TM01
2026-01-14
accounts-with-accounts-type-micro-entity
accounts · AA
2025-12-01
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-01-22
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-19
accounts-with-accounts-type-micro-entity
accounts · AA
2024-02-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-24
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-01-21
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-23
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2021-11-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-15
accounts-with-accounts-type-micro-entity
accounts · AA
2020-12-22
confirmation-statement-with-updates
confirmation-statement · CS01
2020-03-24