MILNE HOLDINGS LIMITED

💤Zombieactive

SC280648 · ltd · incorporated 2005-02-24

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 Dec 2024

Net worth

£46.0k

book net assets

Opportunity

82/100

Exceptional

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What this business does

Primary activity: Combined office administrative service activities

Sector: Administrative & support services

Investor take

Pursue

Active trading company with a 61-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (70/100, director aged 61). 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 (73/100).

🏦

Refinance opportunity

1 live charge · oldest 20.7y

45/100

under pressure

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

· Oldest live charge is 20.7 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Distress signals active — lender appetite narrows.

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

1 charges (1/1 with lender, 1/1 with type)

Directors & officers

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

Ownership & PSC

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

Director network

2 connected companies via shared directors

Filing history

59 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

82/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality

Active, clean filings, stable charge profile.

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 · accounting standard not declared

Positive net assets

Net assets £45,964

Cash YoY

+74%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£2k

↑ 74% YoY

Net Worth

£46k

↑ 4.3% YoY

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2024-12-31	2023-12-31
Total assets	£46.0k	£44.1k
Cash	£2.3k	£1.3k
Net assets	£46.0k	£44.1k

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

filing

• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (23 events)Click to expand

2025-09-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-09-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-25
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-09-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-12-15
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-09-09
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-09-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-04-10
📄
auditors-resignation-company
auditors · AUD
2018-02-28
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2017-07-17
📄
accounts-with-accounts-type-small
accounts · AA
2016-07-11
📄
accounts-with-accounts-type-small
accounts · AA
2016-02-23
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2015-09-30
📄
accounts-with-accounts-type-small
accounts · AA
2015-02-27
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2005-09-01
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
2005-04-22
➕
GRIGOR & YOUNG appointed
corporate-secretary
2005-04-22
➕
MILNE, Steven Gary appointed
director
2005-04-22
➖
THORNTONS WS resigned
corporate-secretary
2005-04-22
➖
HUTCHESON, Iain Henderson resigned
director
2005-02-24
🏢
Company incorporated
As MILNE HOLDINGS LIMITED
2005-02-24
➕
THORNTONS WS appointed
corporate-secretary
2005-02-24
➕
HUTCHESON, Iain Henderson appointed
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 "MILNE" — 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 61 — 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 61. 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 21 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 21 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%

Name	Shares	Voting rights	Nature of control	Notified
Mr Steven Gary Milne Individual · British · DOB 12/1965 · age 61	75–100%	—	75-100% shares	01/02/2017

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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LOGIC ALARMS LIMITED→ SC211267 · est 2000	—	—	£1.90M	—	25y	83	74y
MORAY FIRTH TRAINING GROUP→ SC104619 · est 1987	—	—	—	6	38y	83	79y
QHS SCOTLAND LTD→ SC315075 · est 2007	—	—	£1.30M	—	19y	83	64y
ROSEFIELD SALVAGE LIMITED→ SC184024 · est 1998 · no financials extracted	—	—	—	—	28y	83	65y
TARVIE CROFTING ENTERPRISE→ SC191732 · est 1998	—	—	—	0	27y	83	73y
A HORNE PROPERTIES LTD.→ SC377750 · est 2010	—	—	£713.0k	—	16y	82	65y
ALASTAIR STEWART & SON MEMORIALS LIMITED→ SC360633 · est 2009	—	—	—	3	16y	82	60y
ALLAN W J WILSON LIMITED→ SC096831 · est 1986	—	—	£98.3k	—	40y	82	72y

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.

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Company details

Statusactive

Typeltd

Incorporated2005-02-24

Jurisdictionscotland

Primary SIC82110 — Combined office administrative service activities

Registered office

20 Glen Elgin Drive

Elgin

IV30 6JH

Scotland

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2027-01-22

Last: 2026-01-08

Officers (2 active · 2 resigned)

GRIGOR & YOUNG→

corporate-secretary · appointed 2005-04-22

View their other companies + combined net worth →

Active

MILNE, Steven Gary→

director · ~61y · appointed 2005-04-22

View their other companies + combined net worth →

Active

THORNTONS WS→

corporate-secretary · appointed 2005-02-24 · resigned 2005-04-22

Resigned

HUTCHESON, Iain Henderson→

director · ~64y · appointed 2005-02-24 · resigned 2005-04-22

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:1 of 1 shown

			Type	Properties
	outstanding	Lloyds Banking Group The Governor and Company of the Bank of Scotland	Floating charge	1 property	01/09/2005	—

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