GRETNA BAKERY LTD

💤Zombieactive

SC449151 · ltd · incorporated 2013-05-02

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

£30.0k

book net assets

Opportunity

75/100

Strong

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: Manufacture of bread; manufacture of fresh pastry goods and cakes

Sector: Manufacturing

Investor take

Pursue

Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 75/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. 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 (58/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 10.0y

30/100

under pressure

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

· Oldest live charge is 10.0 years old — likely at or near maturity.
· Two lenders — manageable, but coordination required.
· Distress signals active — lender appetite narrows.

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

Lenders & charges

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

7 officers (1 active, 7 linked, 7 with DOB)

Ownership & PSC

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

Director network

Network not yet resolved

Filing history

49 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

75/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Some acquirability indicators.

Risk profile

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 £29,998

Net assets shrinking

Down £36,350 YoY

Cash YoY

-12%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£10k

↓ 12% YoY

Net Worth

£30k

↓ 55% YoY

Current Assets

£200k

↓ 4.9% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-03-31	2024-03-31
Total assets	£50.2k	£75.7k
Current assets	£199.6k	£209.9k
Cash	£9.7k	£11.0k
Debtors	£184.9k	£193.8k
Net assets	£30.0k	£66.3k

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

3 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

filing

• 1 accounts

Last 90 days

filing

• 1 accounts

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (37 events)Click to expand

2026-03-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-06-10
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2025-03-31
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-03-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-02-11
➖
HORNBY, Stewart resigned
director
2024-04-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-31
📄
resolution
resolution · RESOLUTIONS
2023-08-30
📄
accounts-with-accounts-type-small
accounts · AA
2023-08-30
📄
administrative-restoration-company
restoration · RT01
2023-08-15
📄
gazette-dissolved-compulsory
gazette · GAZ2
2023-05-30
📄
gazette-notice-compulsory
gazette · GAZ1
2022-06-09
📄
accounts-with-accounts-type-small
accounts · AA
2021-12-17
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-12-17
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2021-12-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2021-12-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2021-12-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-12-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-12-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2021-11-30
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-11-26
➕
HOULISTON, Cameron appointed
director
2021-11-26
➖
COLLIN, William Michael resigned
director
2021-11-26
➖
GATTY, Philip Michael resigned
director
2021-11-26
➖
HILL, David Elliot resigned
director
2021-11-26
➕
HORNBY, Stewart appointed
director
2021-11-26
🔒
Charge registered #2
Lender: Hills of Lakeland Limited (Cn: 01500533)
2021-04-08
📄
accounts-with-accounts-type-small
accounts · AA
2020-06-23
🔓
Charge satisfied #1
2016-04-11
➕
COLLIN, William Michael appointed
director
2016-04-11
➕
GATTY, Philip Michael appointed
director
2016-04-11
➕
HILL, David Elliot appointed
director
2016-04-11
➖
STEWARDSON, Janice Linda resigned
director
2016-04-11
➖
STEWARDSON, Nicholas resigned
director
2016-04-11
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
2013-05-02
🏢
Company incorporated
As GRETNA BAKERY LTD
2013-05-02
➕
STEWARDSON, Janice Linda appointed
director
2013-05-02
➕
STEWARDSON, Nicholas appointed
director

Owner dependency

75/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

+Sole director: Only one active director — all governance concentrated on one person.

Succession & seller-readiness

45/100

Moderate signal

Some 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

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

H & H Bakeries Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

H & H Bakeries Ltd

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

GRETNA BAKERY LTD

This company · SC449151

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
H & H Bakeries Ltd Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	26/11/2021

1 historic (ceased) PSC

Hills Of Lakeland Ltdceased 26/11/2021· 75-100% shares

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

Similar companies

Active · Food & drink · DG postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
BARONY COUNTRY FOODS LTD.→ SC181901 · est 1998	—	—	£72.4k	—	28y	82	67y
ANNANDALE DISTILLERY COMPANY LIMITED→ SC316346 · est 2007 · no financials extracted	—	—	—	—	19y	80	72y
IRVINGS HOMESTYLE BAKERY LIMITED→ SC261301 · est 2003	—	—	£804.3k	—	22y	80	88y
BORDERLANDS BREWERY LTD→ SC842982 · est 2025 · no financials extracted	—	—	—	—	1y	—	—
BROWNS MANUFACTURING LIMITED→ SC105710 · est 1987 · no financials extracted	—	—	—	—	38y	—	—
CASTLE MACLELLAN FOODS LIMITED→ SC077607 · est 1982 · no financials extracted	—	—	—	—	44y	—	—
DARK SKY SPIRITS LTD→ SC576266 · est 2017 · no financials extracted	—	—	—	—	8y	—	—
GALLOWAY PASTA LTD→ SC717556 · est 2021 · no financials extracted	—	—	—	—	4y	—	—
KLARO PARTNERS LIMITED→ SC420003 · est 2012 · no financials extracted	—	—	—	—	14y	—	—
KOFEOPIA LTD→ SC796503 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
LATHA ÙR LTD→ SC757173 · est 2023 · no financials extracted	—	—	—	—	3y	—	—
LAWERS OF NATURE LIMITED→ SC692399 · est 2021 · no financials extracted	—	—	—	—	5y	—	—

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

Incorporated2013-05-02

Jurisdictionscotland

Primary SIC10710 — Manufacture of bread; manufacture of fresh pastry goods and cakes

Registered office

113 Central Avenue

Gretna

Dumfriesshire

DG16 5AQ

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2026-05-16

Last: 2025-05-02

Officers (1 active · 6 resigned)

HOULISTON, Cameron→

director · ~38y · appointed 2021-11-26

View their other companies + combined net worth →

Active

COLLIN, William Michael→

director · ~66y · appointed 2016-04-11 · resigned 2021-11-26

Resigned

GATTY, Philip Michael→

director · ~65y · appointed 2016-04-11 · resigned 2021-11-26

Resigned

HILL, David Elliot→

director · ~80y · appointed 2016-04-11 · resigned 2021-11-26

Resigned

HORNBY, Stewart→

director · ~38y · appointed 2021-11-26 · resigned 2025-02-11

Resigned

STEWARDSON, Janice Linda→

director · ~67y · appointed 2013-05-02 · resigned 2016-04-11

Resigned

STEWARDSON, Nicholas→

director · ~69y · appointed 2013-05-02 · resigned 2016-04-11

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:2 of 2 shown

			Type	Properties
	outstanding	Hills of Lakeland (Cn: 01500533) Hills of Lakeland Limited (Cn: 01500533)	A registered charge	1 property	26/11/2021	—
	satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	A registered charge	1 property	11/04/2016	23/06/2020

Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (49 total)

accounts-with-accounts-type-total-exemption-full

accounts · AA

2026-03-30

change-to-a-person-with-significant-control

persons-with-significant-control · PSC05

2025-06-10

confirmation-statement-with-updates

confirmation-statement · CS01

2025-05-08

accounts-with-accounts-type-total-exemption-full

accounts · AA

2025-03-31

termination-director-company-with-name-termination-date

officers · TM01

2025-03-04

confirmation-statement-with-updates

confirmation-statement · CS01

2024-06-03

accounts-with-accounts-type-total-exemption-full

accounts · AA

2024-04-30

resolution

resolution · RESOLUTIONS

2023-08-31

accounts-with-accounts-type-small

accounts · AA

2023-08-30

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-08-30

administrative-restoration-company

restoration · RT01

2023-08-30

gazette-dissolved-compulsory

gazette · GAZ2

2023-08-15

gazette-notice-compulsory

gazette · GAZ1

2023-05-30

confirmation-statement-with-updates

confirmation-statement · CS01

2022-07-27

accounts-with-accounts-type-small

accounts · AA

2022-06-09