NORRIAN LTD.

💤Zombieactive
SC394137 · ltd · incorporated 2011-02-23
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.
Why now
Window steady · low confidence
Steady and stalled — no momentum either way. Needs an approach trigger.
What changed my view
Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value
—
Upgrade to see
Turnover
—
year to Feb 2025
Net worth
£315.0k
book net assets
Opportunity
80/100
Exceptional
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What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Pursue
Asset-holding vehicle with a 60-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (70/100, director aged 60). 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).

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
Confirmed no charges registered
85
Directors & officers
2 officers (1 active, 2 linked, 2 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
32 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →
Opportunity Score
80/100Exceptional
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £314,957

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
£315k
↑ 47% YoY
Current Assets
—
Current Liabilities
—
£0£63k£126k£189k£252k£315kFeb 2024Feb 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-02-282024-02-29
Total assets£315.0k£214.5k
Debtors£426.1k£307.2k
Net assets£315.0k£214.5k

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
1
filing
  • • 1 confirmation-statement
Last 180 days
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (19 events)Click to expand
  1. 2025-05-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-11-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-11-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-11-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-03-02
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  6. 2022-03-02
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  7. 2021-11-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-06-01
    ➖
    SKEA, Adrian resigned
    director
  9. 2020-11-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2019-11-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2018-11-30
    📄
    accounts-with-accounts-type-small
    accounts · AA
  12. 2017-11-24
    📄
    accounts-with-accounts-type-small
    accounts · AA
  13. 2016-10-24
    📄
    accounts-with-accounts-type-small
    accounts · AA
  14. 2016-03-03
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2015-12-03
    📄
    accounts-with-accounts-type-small
    accounts · AA
  16. 2015-02-26
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  17. 2011-02-23
    🏢
    Company incorporated
    As NORRIAN LTD.
  18. 2011-02-23
    ➕
    SKEA, Norman John appointed
    director
  19. 2011-02-23
    ➕
    SKEA, Adrian appointed
    director

Owner dependency

93/100
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.
  • +Long-tenure founder: Senior director has been in place 15 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 60 — approaching natural succession window.

Succession & seller-readiness

78/100
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 60. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 15 years.
  • secondaryStable-but-static management: Company is 15 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
NameSharesVoting rightsNature of controlNotified
Mr Norman John Skea
Individual · British · DOB 09/1966 · age 60
25–50%
—25-50% shares06/04/2016
1 historic (ceased) PSC
  • Mr Adrian Frazer Skeaceased 01/06/2021· 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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———018y8364y
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
Incorporated2011-02-23
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

Barns Of Ayre
Deerness
Orkney
KW17 2QJ

Filing status

Accounts
Next due: 2026-11-30
Last made up to: 2025-02-28
Confirmation statement
Next due: 2027-03-09
Last: 2026-02-23

Officers (1 active · 1 resigned)

SKEA, Norman John→
director · ~60y · appointed 2011-02-23
View their other companies + combined net worth →
Active
SKEA, Adrian→
director · ~57y · appointed 2011-02-23 · resigned 2021-06-01
Resigned

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

Recent filings (32 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-26
confirmation-statement-with-updates
confirmation-statement · CS01
2025-02-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-11
confirmation-statement-with-updates
confirmation-statement · CS01
2022-03-02
termination-director-company-with-name-termination-date
officers · TM01
2022-03-02
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-03-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-11-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-11-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-03-04