ADAM & MACEWEN LIMITED
💤Zombieactive
SC283627 · ltd · incorporated 2005-04-21
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 Aug 2024
Net worth
£137.2k
book net assets
Opportunity
72/100
Strong
What this business does
Primary activity: Other human health activities
Sector: Human health & social work
Investor take
PursueStrong opportunity: asset-holding vehicle with strong profile and bankable structure.
Opportunity 72/100 (strong), bankability 85/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -39% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: strategic trade sale (65/100).
🏦
Refinance opportunity
4 live charges · 2 lenders · oldest 20.9y
30/100
under pressure
Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.
- · Oldest live charge is 20.9 years old — likely at or near maturity.
- · Two lenders — manageable, but coordination required.
- · 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
75
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
6 officers (1 active, 6 linked, 3 with DOB)
80
Ownership & PSC
1 active PSC(s) of 3 total, 3 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
70 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
72/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
50
Some acquirability indicators.
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 £137,195
Cash YoY
-39%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£65k
↓ 39% YoY
Net Worth
£137k
↑ 28% YoY
Current Assets
£194k
↑ 45% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-08-31 | 2023-08-31 |
|---|---|---|
| Total assets | £144.7k | £120.9k |
| Current assets | £193.7k | £133.3k |
| Cash | £64.9k | £107.1k |
| Debtors | £123.3k | £19.6k |
| Net assets | £137.2k | £107.1k |
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
0
filings
Last 180 days
1
filing
- • 1 mortgage
Counts from Companies House filing history.
Corporate timeline (39 events)Click to expand
- 2026-01-14📄mortgage-satisfy-charge-fullmortgage · MR04
- 2026-01-14🔓Charge satisfied #4
- 2025-06-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-05-31📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-10-27📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2023-10-27📄appoint-person-director-company-with-name-dateofficers · AP01
- 2023-10-27📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-10-27📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-10-27📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2023-10-27📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-10-27📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2023-10-25➕MACEWEN, Gregor William appointeddirector
- 2023-10-25➖ADAM, Wendy resignedsecretary
- 2023-10-25➖ADAM, Wendy resigneddirector
- 2023-10-25➖MACEWEN, Pauline Park resigneddirector
- 2023-10-25📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-10-25📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-05-23📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-05-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-03-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-03-03📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-02-14📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2020-02-14🔒Charge registered #4Lender: Handelsbanken PLC
- 2020-02-10📄mortgage-satisfy-charge-fullmortgage · MR04
- 2020-02-10🔓Charge satisfied #1
- 2019-05-30📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2018-05-31🔓Charge satisfied #2
- 2011-02-24🔓Charge satisfied #3
- 2007-03-07🔒Charge registered #3Lender: Clydesdale Bank Public Limited Company
- 2005-07-28🔒Charge registered #2Lender: Clydesdale Bank Public Limited Company
- 2005-06-12🔒Charge registered #1Lender: Clydesdale Bank Public Limited Company
- 2005-04-21🏢Company incorporatedAs ADAM & MACEWEN LIMITED
- 2005-04-21➕ADAM, Wendy appointedsecretary
- 2005-04-21➕WATERLOW SECRETARIES LIMITED appointedcorporate-nominee-secretary
- 2005-04-21➖WATERLOW SECRETARIES LIMITED resignedcorporate-nominee-secretary
- 2005-04-21➕ADAM, Wendy appointeddirector
- 2005-04-21➕MACEWEN, Pauline Park appointeddirector
- 2005-04-21➕WATERLOW NOMINEES LIMITED appointedcorporate-nominee-director
- 2005-04-21➖WATERLOW NOMINEES LIMITED resignedcorporate-nominee-director
Owner dependency
90/100
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.
- +Founder name in company name: Company name contains director surname "MACEWEN" — strong identity link between founder and business.
Succession & seller-readiness
45/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
Red flags
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Macewen Optical Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Macewen Optical Limited
Corporate parent · holds 75-100% shares · board control
⬇
ADAM & MACEWEN LIMITED
This company · SC283627
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 |
|---|---|---|---|---|
Macewen Optical Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 25/10/2023 |
2 historic (ceased) PSCs
- Mrs Wendy Adamceased 25/10/2023· 25-50% shares · 25-50% voting
- Mrs Pauline Park Macewenceased 25/10/2023· 25-50% shares · 25-50% voting
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 →Similar companies
Active · Healthcare & medical · G postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| A JABBAR LTD.→ SC238802 · est 2002 · no financials extracted | — | — | — | — | 23y | — | — |
| A KYRIAZATIS LTD→ SC730034 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| A.I. (EDINBURGH) LIMITED→ SC606015 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| A.I. (NORTH) LIMITED→ SC606011 · est 2018 · no financials extracted | — | — | — | — | 7y | — | — |
| ADAMS EYECARE (SCOTLAND) LTD→ SC557265 · est 2017 · no financials extracted | — | — | — | — | 9y | — | — |
| ADRIENNES AESTHETICS LTD→ SC777800 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| AESTHETIC LINES (SCOTLAND) LIMITED→ SC421284 · est 2012 · no financials extracted | — | — | — | — | 14y | — | — |
| AESTIQUE HEALTH & WELLBEING LTD→ SC866608 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| AFH MEDICAL SERVICES LTD→ SC753334 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| AGC PSYCHOLOGY LIMITED→ SC883851 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| AGE REFINED LIMITED→ SC422209 · est 2012 · no financials extracted | — | — | — | — | 13y | — | — |
| AGEINGWELL UK LIMITED→ SC593908 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
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
Incorporated2005-04-21
Jurisdictionscotland
Primary SIC86900 — Other human health activities
Registered office
Pavilion 1 Finnieston Business Park
Minerva Way
Glasgow
G3 8AU
Scotland
Filing status
Accounts
Next due: 2026-05-31
Last made up to: 2024-08-31
Confirmation statement
Next due: 2026-05-05
Last: 2025-04-21
Officers (1 active · 5 resigned)
MACEWEN, Gregor William→
Activedirector · ~31y · appointed 2023-10-25
View their other companies + combined net worth →
ADAM, Wendy→
Resignedsecretary · appointed 2005-04-21 · resigned 2023-10-25
WATERLOW SECRETARIES LIMITED→
Resignedcorporate-nominee-secretary · appointed 2005-04-21 · resigned 2005-04-21
ADAM, Wendy→
Resigneddirector · ~62y · appointed 2005-04-21 · resigned 2023-10-25
MACEWEN, Pauline Park→
Resigneddirector · ~61y · appointed 2005-04-21 · resigned 2023-10-25
WATERLOW NOMINEES LIMITED→
Resignedcorporate-nominee-director · appointed 2005-04-21 · resigned 2005-04-21
Click a director name to see their full track record across all companies.
Mortgages & charges
4
Total charges
0
Outstanding
0
Active lenders
Status:Lender:4 of 4 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Handelsbanken Handelsbanken PLC | A registered charge | — | 14/02/2020 | 14/01/2026 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 07/03/2007 | 24/02/2011 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 28/07/2005 | 31/05/2018 | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 12/06/2005 | 10/02/2020 |
Recent filings (70 total)
mortgage-satisfy-charge-full
mortgage · MR04
2026-01-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-06-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-31
confirmation-statement-with-updates
confirmation-statement · CS01
2024-04-30
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2023-10-27
appoint-person-director-company-with-name-date
officers · AP01
2023-10-27
termination-director-company-with-name-termination-date
officers · TM01
2023-10-27
termination-director-company-with-name-termination-date
officers · TM01
2023-10-27
termination-secretary-company-with-name-termination-date
officers · TM02
2023-10-27
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-27
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2023-10-27
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-25
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-23