CHIPS 'N THINGS (MONTROSE) LIMITED

🌳Matureactive

SC246477 · ltd · incorporated 2003-03-26

Investment thesis

Well-run mature business — low negotiation leverage; premium likely.

Why interesting: Textbook target; clean filings, stable trading.

Why risky: No pressure on seller; any deal likely at full price.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 18.4y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Mar 2025

Net worth

—

book net assets

Opportunity

75/100

Strong

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What this business does

Primary activity: Take-away food shops and mobile food stands

Sector: Accommodation & food service

Investor take

Pursue

Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 75/100 (strong), bankability 80/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

2 live charges · oldest 18.4y

65/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Oldest live charge is 18.4 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (79/100)

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

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

6 officers (2 active, 6 linked, 4 with DOB)

Ownership & PSC

1 active PSC(s) of 3 total, 3 with control declared

Director network

2 connected companies via shared directors

Filing history

58 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

Active, clean filings, stable charge profile.

Acquirability

Some acquirability indicators.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

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 · accounting standard unknown

Metric	2025-03-31	2024-03-31
Average employees	11	1000

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

filing

• 1 confirmation-statement

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (29 events)Click to expand

2025-11-19
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-11-21
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-11-28
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-05
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-15
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2020-12-09
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2019-12-12
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2018-07-12
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2018-04-03
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2018-04-03
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2018-04-03
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2017-12-23
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2017-12-08
🔒
Charge registered #2
Lender: The Royal Bank of Scotland PLC
2017-09-01
📄
appoint-person-director-company-with-name-date
officers · AP01
2017-09-01
📄
appoint-person-director-company-with-name-date
officers · AP01
2017-09-01
📄
termination-director-company-with-name-termination-date
officers · TM01
2017-09-01
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2017-08-31
➕
WILL, Norman Adam appointed
director
2017-08-31
➕
WILL, Sarah appointed
director
2017-08-31
➖
WILL, Muriel Ann Hay resigned
secretary
2017-08-31
➖
WILL, Muriel Ann Hay resigned
director
2017-08-31
➖
WILL, Norman resigned
director
2007-11-22
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
2003-03-26
🏢
Company incorporated
As CHIPS 'N THINGS (MONTROSE) LIMITED
2003-03-26
➕
WILL, Muriel Ann Hay appointed
secretary
2003-03-26
➕
OSWALDS OF EDINBURGH LIMITED appointed
corporate-nominee-secretary
2003-03-26
➖
OSWALDS OF EDINBURGH LIMITED resigned
corporate-nominee-secretary
2003-03-26
➕
WILL, Muriel Ann Hay appointed
director
2003-03-26
➕
WILL, Norman appointed
director

Owner dependency

66/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

46/100

Moderate signal

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

SIGNALS

secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
secondaryStable-but-static management: Company is 23 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

N & S Will Holdings Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

N & S Will Holdings Ltd

Corporate parent · holds 75-100% shares

ultimate parent

⬇

CHIPS 'N THINGS (MONTROSE) LIMITED

This company · SC246477

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

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
N & S Will Holdings Ltd Corporate entity	75–100%	—	75-100% shares	30/08/2017

2 historic (ceased) PSCs

Mrs Muriel Ann Hay Willceased 30/08/2017· 25-50% shares
Mr Norman Willceased 30/08/2017· 25-50% shares

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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Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

6 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

Incorporated2003-03-26

Jurisdictionscotland

Primary SIC56103 — Take-away food shops and mobile food stands

Registered office

19 - 21 Ferry Street

Montrose

Angus

DD10 8DA

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-04-09

Last: 2026-03-26

Officers (2 active · 4 resigned)

WILL, Norman Adam→

director · ~46y · appointed 2017-08-31

View their other companies + combined net worth →

Active

WILL, Sarah→

director · ~44y · appointed 2017-08-31

View their other companies + combined net worth →

Active

WILL, Muriel Ann Hay→

secretary · appointed 2003-03-26 · resigned 2017-08-31

Resigned

OSWALDS OF EDINBURGH LIMITED→

corporate-nominee-secretary · appointed 2003-03-26 · resigned 2003-03-26

Resigned

WILL, Muriel Ann Hay→

director · ~72y · appointed 2003-03-26 · resigned 2017-08-31

Resigned

WILL, Norman→

director · ~73y · appointed 2003-03-26 · resigned 2017-08-31

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:2 of 2 shown

			Type	Properties
	outstanding	Lloyds Banking Group The Royal Bank of Scotland PLC	A registered charge	2 properties	08/12/2017	—
	outstanding	Lloyds Banking Group The Royal Bank of Scotland PLC	Bond & floating charge	1 property	22/11/2007	—

Click column headers to sort. Use filters above to narrow by status and lender.