BORDER BIOFUELS LIMITED

💤Zombieactive
SC443328 · ltd · incorporated 2013-02-21
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 Mar 2025
Net worth
£1.75M
book net assets
Opportunity
79/100
Strong
🔔
Follow this company (free)
Email alerts on filings, charges, director changes, gazette notices. No account needed.

Unsubscribe any time from any email. GDPR-respectful.

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch
What this business does
Primary activity: SIC 46719
Sector: Wholesale & retail
Investor take
Pursue
Active trading company with a 66-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 80/100. Strong seller-intent signal (68/100, director aged 66). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -40% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 9.3y

45/100
under pressure

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

  • · Oldest live charge is 9.3 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
75
Lenders & charges
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
4 officers (2 active, 4 linked, 2 with DOB)
80
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
36 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
85
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 £1,747,284
Cash draining
Cash down 40% YoY
Cash YoY
-40%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£180k
↓ 40% YoY
Net Worth
£1.7m
↑ 6.9% YoY
Current Assets
£1.1m
↑ 2.5% YoY
Current Liabilities
—
£0£349k£699k£1.0m£1.4m£1.7mMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Total assets£2.05M£1.82M
Current assets£1.14M£1.11M
Cash£180.4k£302.6k
Debtors£854.7k£705.9k
Net assets£1.75M£1.63M

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
0
filings
Last 90 days
0
filings
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (23 events)Click to expand
  1. 2025-12-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-09
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-02-17
    📄
    appoint-person-secretary-company-with-name-date
    officers · AP03
  5. 2023-02-17
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  6. 2023-02-16
    ➕
    KINCAID, Catherine Joan appointed
    secretary
  7. 2022-12-16
    ➖
    MATHER, Christopher Ian resigned
    secretary
  8. 2022-12-16
    ➖
    MATHER, Christopher Ian resigned
    director
  9. 2022-12-16
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  10. 2022-12-16
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  11. 2022-12-16
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  12. 2022-12-16
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  13. 2022-11-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2021-11-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2020-11-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2019-12-11
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  17. 2018-12-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2017-12-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2016-12-15
    🔒
    Charge registered #1
    Lender: Lloyds Bank PLC
  20. 2013-02-21
    🏢
    Company incorporated
    As BORDER BIOFUELS LIMITED
  21. 2013-02-21
    ➕
    KINCAID, David John appointed
    director
  22. 2013-02-21
    ➕
    MATHER, Christopher Ian appointed
    secretary
  23. 2013-02-21
    ➕
    MATHER, Christopher Ian appointed
    director

Owner dependency

90/100
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 age: Director aged approximately 66 — succession pressure is live.

Succession & seller-readiness

78/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 66. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 13 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 · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr David John Kincaid
Individual · British · DOB 08/1960 · age 66
75–100%
75–100%75-100% shares · 75-100% voting06/04/2016
1 historic (ceased) PSC
  • Mr Christopher Ian Matherceased 16/12/2022· 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 · Wholesale & distribution · DG postcode area
CompanyEst. valueTurnoverNet worthStaffAgeOppDirector
ABSOLUTE VITAMINS LIMITED→
SC787572 · est 2023 · no financials extracted
————2y——
ARLA FOODS NAIRN LIMITED→
SC188780 · est 1998 · no financials extracted
————27y——
BALTUS LIMITED→
SC505940 · est 2015 · no financials extracted
————10y——
BORDERS GOURMET LIMITED→
SC407944 · est 2011 · no financials extracted
————14y——
BRIGSTON & CO WHOLESALE LIMITED→
SC623627 · est 2019 · no financials extracted
————7y——
DES SAINTS & TRADE LIMITED→
SC871117 · est 2025 · no financials extracted
———————
ETB TECHNOLOGIES LIMITED→
SC224120 · est 2001 · no financials extracted
————24y——
GRT MACHINERY LIMITED→
SC482582 · est 2014 · no financials extracted
————11y——
HALL'S OF SCOTLAND LIMITED→
SC076842 · est 1981 · no financials extracted
————44y——
HALLS DIRECT LIMITED→
SC439707 · est 2013 · no financials extracted
————13y——
HILLOWTON EGGS LTD→
SC800273 · est 2024 · no financials extracted
————2y——
HOWND CLOTHING LIMITED→
SC854799 · est 2025 · no financials extracted
———————
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

8 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
Incorporated2013-02-21
Jurisdictionscotland
Primary SIC46719 — SIC 46719

Registered office

Slacks Farm
Lochmaben
Lockerbie
DG11 1RY
Scotland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-12-30
Last: 2025-12-16

Officers (2 active · 2 resigned)

KINCAID, Catherine Joan→
secretary · appointed 2023-02-16
View their other companies + combined net worth →
Active
KINCAID, David John→
director · ~66y · appointed 2013-02-21
View their other companies + combined net worth →
Active
MATHER, Christopher Ian→
secretary · appointed 2013-02-21 · resigned 2022-12-16
Resigned
MATHER, Christopher Ian→
director · ~66y · appointed 2013-02-21 · resigned 2022-12-16
Resigned

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

Mortgages & charges

1
Total charges
1
Outstanding
1
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
outstanding
Lloyds Banking Group
Lloyds Bank PLC
A registered charge—15/12/2016—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (36 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-12-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-12-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-12-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-22
appoint-person-secretary-company-with-name-date
officers · AP03
2023-02-17
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-02-17
confirmation-statement-with-updates
confirmation-statement · CS01
2022-12-16
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-12-16
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2022-12-16
termination-director-company-with-name-termination-date
officers · TM01
2022-12-16
termination-secretary-company-with-name-termination-date
officers · TM02
2022-12-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-11-16
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-22