ELGIN MOTOR WORKS LTD

🌳Matureactive
SC398991 · ltd · incorporated 2011-05-06
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 May 2025
Net worth
£140.2k
book net assets
Opportunity
74/100
Strong
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What this business does
Primary activity: SIC 45200
Sector: Wholesale & retail
Investor take
Pursue
Strong opportunity: asset-holding vehicle with strong profile and bankable structure.

Opportunity 74/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (58/100).

Data confidence

Overall: medium (78/100)

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 (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
36 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £140,238
Cash YoY
-9%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£200k
↓ 9.0% YoY
Net Worth
£140k
↑ 62% YoY
Current Assets
£206k
↓ 8.7% YoY
Current Liabilities
—
£0£45k£90k£135k£180k£225kMay 2024May 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-05-312024-05-31
Total assets£149.7k£155.6k
Current assets£205.6k£225.3k
Cash£200.4k£220.1k
Net assets£140.2k£86.3k

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 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (18 events)Click to expand
  1. 2026-01-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-01-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-01-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-07-06
    📄
    change-person-director-company-with-change-date
    officers · CH01
  5. 2023-02-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-05-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2020-02-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2019-07-24
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  10. 2019-05-08
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  11. 2019-02-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  12. 2018-02-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  13. 2017-02-28
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2016-05-09
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  15. 2016-05-09
    📄
    change-person-director-company-with-change-date
    officers · CH01
  16. 2011-05-06
    🏢
    Company incorporated
    As ELGIN MOTOR WORKS LTD
  17. 2011-05-06
    ➕
    JONES, Innes Greig appointed
    director
  18. 2011-05-06
    ➕
    MORGAN, Robert James appointed
    director

Owner dependency

63/100
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.
  • +No director turnover: Company is 15 years old with no director changes — suggests a very tight-knit founder team never broadened.

Succession & seller-readiness

49/100
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.
  • secondary12+ year tenure: Director in role 15 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.)

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Robert James Morgan
Individual · British · DOB 02/1970 · age 56
50–75%
—board control50-75% shares · board control06/05/2017
1 historic (ceased) PSC
  • Mr Innes Greig Jonesceased 24/07/2019· 25-50% shares · board control

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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
Incorporated2011-05-06
Jurisdictionscotland
Primary SIC45200 — SIC 45200

Registered office

The Old Fire Station
Castle Road
Rosyth
Fife
KY11 2ED
Scotland

Filing status

Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2026-08-07
Last: 2025-07-24

Officers (2 active · 0 resigned)

JONES, Innes Greig→
director · ~49y · appointed 2011-05-06
View their other companies + combined net worth →
Active
MORGAN, Robert James→
director · ~56y · appointed 2011-05-06
View their other companies + combined net worth →
Active

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

Recent filings (36 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-01-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-07-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-01-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-08-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-01-23
confirmation-statement-with-updates
confirmation-statement · CS01
2023-07-24
change-person-director-company-with-change-date
officers · CH01
2023-07-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-02-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-07-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-08-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-07-27
accounts-with-accounts-type-micro-entity
accounts · AA
2020-02-28
confirmation-statement-with-updates
confirmation-statement · CS01
2019-07-24