QA FISH LIMITED

🌳Matureactive

SC336851 · ltd · incorporated 2008-01-29

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

hardening · 12-months

Already tight — no obvious softening catalysts on the horizon.

· Thesis: well-run, low negotiation leverage

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Mar 2025

Net worth

—

book net assets

Opportunity

83/100

Exceptional

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What this business does

Primary activity: SIC 10200

Sector: Manufacturing

Investor take

Pursue

Strong opportunity: active trading company with exceptional profile and acceptable with review structure.

Opportunity 83/100 (exceptional), bankability 57/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

5 live charges · 4 lenders · oldest 18.1y

35/100

too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

· Oldest live charge is 18.1 years old — likely at or near maturity.
· 4 lenders named — inter-creditor friction likely.
· Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (73/100)

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

1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed

Lenders & charges

5 charges (5/5 with lender, 5/5 with type)

Directors & officers

10 officers (6 active, 10 linked, 8 with DOB)

Ownership & PSC

1 active PSC(s) of 2 total, 2 with control declared

Director network

3 connected companies via shared directors

Filing history

74 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

83/100Exceptional

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.

Key financials

1 year extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-03-31
Average employees	2900

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

filings

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filing

• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (40 events)Click to expand

2025-09-15
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-30
📄
change-person-director-company-with-change-date
officers · CH01
2025-05-30
📄
change-person-director-company-with-change-date
officers · CH01
2025-05-30
📄
change-person-director-company-with-change-date
officers · CH01
2025-05-30
📄
change-person-director-company-with-change-date
officers · CH01
2025-01-09
📄
change-account-reference-date-company-current-extended
accounts · AA01
2024-06-28
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2024-06-28
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-06-28
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-06-28
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-06-28
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-06-25
➕
JOHNSON, Dean Gilbert appointed
director
2024-06-25
➕
JOHNSON, Ivor Gilbert appointed
director
2024-06-25
➖
STEINBACH, Csaba resigned
director
2024-06-19
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-18
📄
accounts-amended-with-accounts-type-total-exemption-full
accounts · AAMD
2023-12-21
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-12-21
📄
change-person-director-company-with-change-date
officers · CH01
2023-09-04
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-25
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-06-14
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-05-05
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-04-01
🔒
Charge registered #5
Lender: The Royal Bank of Scotland PLC
2018-08-09
🔒
Charge registered #4
Lender: The Royal Bank of Scotland PLC
2017-06-26
➕
NICOLSON, Robert Sinclair appointed
director
2016-12-28
🔒
Charge registered #3
Lender: Royal Bank of Scotland PLC
2016-09-22
➕
WILLIAMSON, Arlene Elizabeth appointed
secretary
2016-09-22
➖
JOHNSON, Julia Christine resigned
secretary
2016-09-22
➖
JOHNSON, Gordon resigned
director
2016-09-22
➖
JOHNSON, Julia Christine resigned
director
2016-01-06
🔒
Charge registered #2
Lender: The Royal Bank of Scotland
2015-01-31
➕
JOHNSON, Julia Christine appointed
director
2014-01-20
➕
STEINBACH, Csaba appointed
director
2010-12-18
🔓
Charge satisfied #1
2008-04-03
🔒
Charge registered #1
Lender: Clydesdale Bank PLC
2008-01-29
🏢
Company incorporated
As QA FISH LIMITED
2008-01-29
➕
WILLIAMSON, Arlene Elizabeth appointed
director
2008-01-29
➕
WILLIAMSON, Robert appointed
director
2008-01-29
➕
JOHNSON, Julia Christine appointed
secretary
2008-01-29
➕
JOHNSON, Gordon 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

-5 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 18 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 62 — approaching natural succession window.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

53/100

Moderate signal

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

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.
secondary12+ year tenure: Director in role 18 years.
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.)

Group structure

Johnson Marine Scotland Limited holds 25-50% — a significant corporate investor but not a controlling parent.

🏛️

Johnson Marine Scotland Limited

Corporate parent · holds 25-50% shares

significant stake

⬇

QA FISH LIMITED

This company · SC336851

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

Shareholders & ownership

1 active beneficial owner

Name	Shares	Voting rights	Nature of control	Notified
Johnson Marine Scotland Limited Corporate entity	25–50%	25–50%	25-50% shares · 25-50% voting	25/06/2024

1 historic (ceased) PSC

Mr Csaba Steinbachceased 25/06/2024· 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.

🔒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 · Food & drink · ZE postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
SHETLAND FARM DAIRIES LIMITED→ SC152412 · est 1994	—	—	—	10	31y	80	69y
PELAGIA SHETLAND LIMITED→ SC094953 · est 1985 · no financials extracted	—	—	—	—	40y	76	69y
QA SHELLFISH LTD→ SC552948 · est 2016	—	—	—	400	9y	76	62y
ISLAND LARDER LTD→ SC476550 · est 2014	—	—	—	18	11y	75	43y
ISLAND FISH (SHETLAND) LTD→ SC604178 · est 2018	—	—	£131.6k	—	7y	72	54y
LERWICK DISTILLERY LIMITED→ SC738215 · est 2022	—	—	£1.94M	—	3y	70	55y
SHETLAND CREAMERY LIMITED→ SC871204 · est 2025 · no financials extracted	—	—	—	—	—	70	47y
SHETLAND SALT LIMITED→ SC629207 · est 2019	—	—	£-11.1k	—	6y	61	66y
LUNNA LAMB LTD→ SC673459 · est 2020	—	—	£-20.9k	—	5y	60	69y
NORTHERN DELIGHTS SHETLAND LTD→ SC663028 · est 2020	—	—	£-1.4k	—	5y	56	26y
JOHNSON & WOOD LTD→ SC440115 · est 2013 · no financials extracted	—	—	—	—	13y	—	—
SANDWICK BAKING COMPANY LIMITED→ SC210109 · est 2000 · no financials extracted	—	—	—	—	25y	—	—

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

Incorporated2008-01-29

Jurisdictionscotland

Primary SIC10200 — SIC 10200

Registered office

Unit 1 Blacksness Pier

Scalloway

Shetland

ZE1 0TQ

Scotland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-02-12

Last: 2026-01-29