SOUTHCOVE LIMITED

🌳Matureactive

SC449697 · ltd · incorporated 2013-05-10

Investment thesis

Property vehicle with leveraged stack — refinance / partial-release angle.

Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.

Why risky: Multiple lenders to manage; inter-creditor friction and partial-release cost possible.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Dec 2024

Net worth

—

book net assets

Opportunity

68/100

Strong

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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

Property-backed borrower. Reasonable fundamentals — worth a memo before deciding.

Opportunity 68/100 (strong), bankability 57/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (38/100).

🏦

Refinance opportunity

14 live charges · 5 lenders · oldest 12.9y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 12.9 years old — likely at or near maturity.
· 5 lenders named — inter-creditor friction likely.
· Legal-friction score 48/100 (high).

Data confidence

Overall: medium (75/100)

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

14 charges (14/14 with lender, 14/14 with type)

Directors & officers

9 officers (2 active, 9 linked, 8 with DOB)

Ownership & PSC

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

Director network

10 connected companies via shared directors

Filing history

76 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

68/100Strong

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

Some moderate concerns — review 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	2024-12-31
Average employees	300

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

🔒Filing-note intelligence

4 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

filings

Last 90 days

filings

• 1 accounts
• 1 address

Last 180 days

filings

• 2 address
• 2 officers
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (60 events)Click to expand

2026-02-13
📄
change-account-reference-date-company-previous-shortened
accounts · AA01
2026-02-02
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-01-12
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-12-23
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-23
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2025-12-22
➖
MORTIMER, Lynn resigned
secretary
2025-12-22
➖
MORTIMER, Lynn resigned
director
2025-09-29
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-07-17
📄
accounts-with-accounts-type-small
accounts · AA
2024-04-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-04-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-04-09
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-04-09
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-03-29
➕
MACCULLOCH, Gary Cameron appointed
director
2024-03-29
➕
MARTIN, Kevin Paul appointed
director
2024-03-29
➖
CUMMINGS, Peter Joseph resigned
director
2023-08-29
📄
accounts-with-accounts-type-small
accounts · AA
2023-07-25
➕
CUMMINGS, Peter Joseph appointed
director
2023-07-25
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-03-22
➖
HUNTER, Annette resigned
director
2023-03-22
➖
MURPHY, James resigned
director
2023-03-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-03-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-05-25
📄
accounts-with-accounts-type-small
accounts · AA
2021-06-11
📄
accounts-with-accounts-type-small
accounts · AA
2020-12-21
📄
accounts-with-accounts-type-small
accounts · AA
2019-12-05
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2019-11-25
🔒
Charge registered #14
Lender: City Facilities Management Holdings (UK) Limited
2019-11-20
🔒
Charge registered #13
Lender: Bank of Scotland PLC
2019-08-14
🔓
Charge satisfied #10
2019-08-14
🔓
Charge satisfied #9
2019-08-14
🔓
Charge satisfied #8
2019-08-14
🔓
Charge satisfied #7
2019-08-14
🔓
Charge satisfied #6
2019-08-14
🔓
Charge satisfied #5
2019-08-14
🔓
Charge satisfied #4
2019-08-14
🔓
Charge satisfied #3
2019-08-02
➕
MURPHY, James appointed
director
2019-08-02
🔒
Charge registered #12
Lender: Bank of Scotland PLC
2019-08-02
🔒
Charge registered #11
Lender: City Facilities Management Holdings (UK) Limited
2018-12-10
🔒
Charge registered #10
Lender: Property Finance Nominees (No.3) Limited
2018-12-05
🔒
Charge registered #9
Lender: Property Finance Nominees (No.3) Limited
2018-08-03
🔒
Charge registered #8
Lender: Property Finance Nominees (No.3) Limited
2018-07-27
🔒
Charge registered #7
Lender: Property Finance Nominees (No.3) Limited
2017-08-08
🔒
Charge registered #6
Lender: Property Finance Nominees (No.3) Limited
2017-08-03
🔒
Charge registered #5
Lender: Property Finance Nominees (No.3) Limited
2017-07-19
➕
HUNTER, Annette appointed
director
2017-01-18
🔓
Charge satisfied #2
2016-12-21
🔓
Charge satisfied #1
2016-12-19
🔒
Charge registered #4
Lender: Property Finance Nominees (No 3) Limited

Showing most recent 50 of 60 events

Owner dependency

58/100

Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.

Succession & seller-readiness

36/100

Weak signal

Limited succession signal. Not a near-term off-market candidate.

SIGNALS

secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

2 med · 1 low

2 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: MORTIMER, Lynn resigned 2025-12-22; MORTIMER, Lynn resigned 2025-12-22

Charge satisfaction-then-recreation pattern

medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Multiple registered office changes

low

Multiple address changes in a short period can indicate operational instability or admin disorder.

Group structure

Landfern Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Landfern Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

SOUTHCOVE LIMITED

This company · SC449697

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
Landfern Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	02/08/2019

1 historic (ceased) PSC

Miss Lynn Mortimerceased 02/08/2019· significant influence · trust interest

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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A BALFOUR PROPERTY RENTALS LTD→ SC866177 · est 2025 · no financials extracted	—	—	—	—	—	—	—
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AA PATRA LTD→ SC734303 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
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AA1 HOLDINGS LIMITED→ SC855566 · est 2025 · no financials extracted	—	—	—	—	—	—	—

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

Incorporated2013-05-10

Jurisdictionscotland

Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

19 Royal Exchange Square

Glasgow

G1 3AJ

Scotland

Filing status

Accounts

Next due: 2026-09-21

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-05-24

Last: 2025-05-10

Officers (2 active · 7 resigned)

MACCULLOCH, Gary Cameron→

director · ~46y · appointed 2024-03-29

View their other companies + combined net worth →

Active

MARTIN, Kevin Paul→

director · ~44y · appointed 2024-03-29

View their other companies + combined net worth →

Active

MORTIMER, Lynn→

secretary · appointed 2013-05-16 · resigned 2025-12-22

Resigned

CUMMINGS, Peter Joseph→

director · ~71y · appointed 2023-07-25 · resigned 2024-03-29

Resigned

FRIEL, David→

director · ~57y · appointed 2013-05-16 · resigned 2013-07-10

Resigned

HUNTER, Annette→

director · ~60y · appointed 2017-07-19 · resigned 2023-03-22

Resigned

MABBOTT, Stephen George→

director · ~76y · appointed 2013-05-10 · resigned 2013-05-16

Resigned

MORTIMER, Lynn→

director · ~59y · appointed 2013-05-16 · resigned 2025-12-22

Resigned

MURPHY, James→

director · ~71y · appointed 2019-08-02 · resigned 2023-03-22

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:14 of 14 shown

		Type	Properties
outstanding	City Facilities Management Holdings (UK) City Facilities Management Holdings (UK) Limited	A registered charge	2 properties	25/11/2019	—
outstanding	Lloyds Banking Group Bank of Scotland PLC	A registered charge	2 properties	20/11/2019	—
outstanding	Lloyds Banking Group Bank of Scotland PLC	A registered charge	—	02/08/2019	—
outstanding	City Facilities Management Holdings (UK) City Facilities Management Holdings (UK) Limited	A registered charge	—	02/08/2019	—
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	1 property	10/12/2018	14/08/2019
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	—	05/12/2018	14/08/2019
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	1 property	03/08/2018	14/08/2019
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	1 property	27/07/2018	14/08/2019
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	1 property	08/08/2017	14/08/2019
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	1 property	03/08/2017	14/08/2019
satisfied	Property Finance Nominees (No 3) Property Finance Nominees (No 3) Limited	A registered charge	1 property	19/12/2016	14/08/2019
satisfied	Property Finance Nominees (No.3) Property Finance Nominees (No.3) Limited	A registered charge	1 property	09/12/2016	14/08/2019
satisfied	Bridging Finance Bridging Finance Limited	A registered charge	1 property	19/06/2013	18/01/2017
satisfied	Bridging Finance Bridging Finance Limited	A registered charge	—	10/06/2013	21/12/2016

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

Recent filings (76 total)

change-account-reference-date-company-previous-shortened

accounts · AA01

2026-02-13

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2026-02-02

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2026-01-12

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

officers · TM01

2025-12-23

termination-secretary-company-with-name-termination-date

officers · TM02

2025-12-23

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

accounts · AA

2025-09-29

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-05-20

accounts-with-accounts-type-small

accounts · AA

2024-07-17

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-05-30

appoint-person-director-company-with-name-date

officers · AP01

2024-04-09

appoint-person-director-company-with-name-date

officers · AP01

2024-04-09

change-registered-office-address-company-with-date-old-address-new-address

address · AD01

2024-04-09

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

officers · TM01

2024-04-09

accounts-with-accounts-type-small

accounts · AA

2023-08-29

appoint-person-director-company-with-name-date

officers · AP01

2023-07-25