ANCRUM TRADES LTD
💤Zombieactive
SC245654 · ltd · incorporated 2003-03-14
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 Mar 2025
Net worth
£206.4k
book net assets
Opportunity
79/100
Strong
What this business does
Primary activity: Roofing activities
Sector: Construction
Investor take
PursueAsset-holding vehicle with a 64-year-old founder — textbook succession opportunity.
Opportunity 79/100 (strong), bankability 85/100. Strong seller-intent signal (70/100, director aged 64). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (73/100).
🏦
Refinance opportunity
1 live charge · oldest 22.3y
45/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 22.3 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Distress signals active — lender appetite narrows.
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
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 2 with DOB)
80
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
65 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £206,416
Cash YoY
+83%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£65k
↑ 83% YoY
Net Worth
£206k
↑ 23% YoY
Current Assets
£264k
↑ 27% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £217.3k | £189.6k |
| Current assets | £264.5k | £208.0k |
| Cash | £65.2k | £35.6k |
| Debtors | £171.0k | £151.0k |
| Net assets | £206.4k | £167.9k |
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
2
filings
- • 1 confirmation-statement
- • 1 address
Last 180 days
3
filings
- • 1 confirmation-statement
- • 1 address
- • 1 change-of-name
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
- 2026-03-18📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2026-01-09✏️certificate-change-of-name-companychange-of-name · CERTNM
- 2025-07-15📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-01-09📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-12-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-10-12📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-10-12📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-07-20📄capital-cancellation-sharescapital · SH06
- 2023-07-20📄capital-return-purchase-own-sharescapital · SH03
- 2023-04-19📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-04-19📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2023-02-07📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-02-07📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2022-04-14📄termination-director-company-with-name-termination-dateofficers · TM01
- 2022-01-26➖LENAGHEN, Gordon resigneddirector
- 2021-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-03-17📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-12-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2008-05-20🔓Charge satisfied #1
- 2004-01-15🔒Charge registered #1Lender: The Royal Bank of Scotland PLC
- 2003-03-14🏢Company incorporatedAs ANCRUM TRADES LTD
- 2003-03-14➕LENAGHEN, Stuart Fraser appointedsecretary
- 2003-03-14➕LENAGHEN, Stuart Fraser appointeddirector
- 2003-03-14➕OSWALDS OF EDINBURGH LIMITED appointedcorporate-nominee-secretary
- 2003-03-14➖OSWALDS OF EDINBURGH LIMITED resignedcorporate-nominee-secretary
- 2003-03-14➕LENAGHEN, Gordon appointeddirector
Owner dependency
93/100
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
- +Sole director: Only one active director — all governance concentrated on one person.
- +Long-tenure founder: Senior director has been in place 23 years — deep operational knowledge concentrated in one person.
- +Senior director age: Director aged approximately 64 — approaching natural succession window.
Succession & seller-readiness
95/100
Likely off-market candidateStrong acquirability signals converging. Worth approaching directly — this is how off-market deals start.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
- primary20+ year tenure: Director in role 23 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
1 med ·Name changed recently
mediumName changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.
Evidence: 2026-01-09: certificate-change-of-name-company
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Stuart Fraser Lenaghen Individual · British · DOB 04/1962 · age 64 | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
2 historic (ceased) PSCs
- Mrs Irene Jane Lenaghenceased 26/06/2023· 25-50% shares · 25-50% voting · board control
- Mr Gordon Lenaghenceased 16/01/2023· 25-50% shares · 25-50% voting · board control
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Similar companies
Active · Construction · EH postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| AMG MECHANICAL LIMITED→ SC548645 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| AMRO DEVELOPMENT LIMITED→ SC539309 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| AMRR LTD→ SC730130 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| AND CONNECT ELECTRICAL LIMITED→ SC550640 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| ANDERSON KBB LTD→ SC840330 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| ANDREW HALL PLASTERERS LTD→ SC459696 · est 2013 · no financials extracted | — | — | — | — | 12y | — | — |
| ANGELA THORNTON LIMITED→ SC813686 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| AOP ASSOCIATES LTD→ SC615117 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| APEX CONTRACTS LIMITED→ SC585880 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
| APEX FIRE & SECURITY LIMITED→ SC350599 · est 2008 · no financials extracted | — | — | — | — | 17y | — | — |
| APEX PROPERTY CARE LIMITED→ SC092112 · est 1985 · no financials extracted | — | — | — | — | 41y | — | — |
| APEX WINDOWS AND DOORS LTD→ SC488379 · est 2014 · no financials extracted | — | — | — | — | 11y | — | — |
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
Incorporated2003-03-14
Jurisdictionscotland
Primary SIC43910 — Roofing activities
Registered office
3 Ancrum Bank
Eskbank
Dalkeith
Midlothian
EH22 3AY
United Kingdom
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-03-28
Last: 2026-03-14
Officers (2 active · 2 resigned)
LENAGHEN, Stuart Fraser→
Activesecretary · appointed 2003-03-14
View their other companies + combined net worth →
LENAGHEN, Stuart Fraser→
Activedirector · ~64y · appointed 2003-03-14
View their other companies + combined net worth →
OSWALDS OF EDINBURGH LIMITED→
Resignedcorporate-nominee-secretary · appointed 2003-03-14 · resigned 2003-03-14
LENAGHEN, Gordon→
Resigneddirector · ~65y · appointed 2003-03-14 · resigned 2022-01-26
Click a director name to see their full track record across all companies.
Mortgages & charges
1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Bond & floating charge | 1 property | 15/01/2004 | 20/05/2008 |
Recent filings (65 total)
confirmation-statement-with-updates
confirmation-statement · CS01
2026-03-18
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-03-18
certificate-change-of-name-company
change-of-name · CERTNM
2026-01-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-07-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-01-09
confirmation-statement-with-updates
confirmation-statement · CS01
2024-03-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-20
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-12
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-12
capital-cancellation-shares
capital · SH06
2023-07-20
capital-return-purchase-own-shares
capital · SH03
2023-07-20
confirmation-statement-with-updates
confirmation-statement · CS01
2023-04-21
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-04-19
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2023-04-19