NORTH SEA PLASTICS (HOLDINGS) LIMITED

⚰️Wound downliquidation
SC612863 · ltd · incorporated 2018-11-06
Investment thesis
Company liquidation — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
  • · Oldest live charge 7.2y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to May 2025
Net worth
£2.49M
book net assets
Opportunity
54/100
Worth a look
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What this business does
Primary activity: Activities of other holding companies n.e.c.
Sector: Financial & insurance
Investor take
Special-situation opportunity
Distressed holding with salvageable qualities — special-situations priority.

Opportunity 54/100 (worth a look), bankability 60/100. High owner-dependency — earn-out structure likely required for clean transition. Biggest value-creation lever: Resolve: Company in liquidation. Company is actively being wound up. Not a going concern. Most likely exit: distressed disposal / insolvency (65/100).

🏦

Refinance opportunity

1 live charge · oldest 7.2y

65/100
clean up first

Refinance viable after a tidy-up — address the highlighted items first.

  • · Oldest live charge is 7.2 years old — likely at or near maturity.
  • · Single lender — cleanest path to refinance.
  • · Legal-friction score 35/100 — workable, but lender will want more DD.

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
6 officers (2 active, 6 linked, 3 with DOB)
80
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
35 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
54/100Worth a look
PassWatchWorth a lookStrongExceptional 

Mixed signal. Worth opening the full target workup before deciding to pursue.

Business quality
5
Concerning — overdue filings or status flags present.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
67
Some moderate concerns — review 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 £2,491,253

Key financials

2 years extracted from filed iXBRL accounts
Cash
£1.7m
Net Worth
£2.5m
↑ 531% YoY
Current Assets
£2.1m
Current Liabilities
—
£0£498k£997k£1.5m£2.0m£2.5mMay 2024May 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-05-312024-05-31
Total assets£2.49M£394.5k
Current assets£2.06M—
Cash£1.72M—
Debtors£336.9k£85.5k
Net assets£2.49M£394.5k

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
2
filings
  • • 1 address
  • • 1 resolution
Last 90 days
2
filings
  • • 1 address
  • • 1 resolution
Last 180 days
4
filings
  • • 1 address
  • • 1 resolution
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (31 events)Click to expand
  1. 2026-04-10
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  2. 2026-04-09
    📄
    resolution
    resolution · RESOLUTIONS
  3. 2025-12-04
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  4. 2025-01-08
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  5. 2024-11-27
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  6. 2024-02-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  7. 2024-01-03
    ➖
    TULLIS, Colin Gordon resigned
    director
  8. 2022-12-12
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  9. 2022-03-28
    📄
    change-person-director-company-with-change-date
    officers · CH01
  10. 2022-03-28
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  11. 2021-11-03
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  12. 2021-06-10
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2021-06-10
    🔓
    Charge satisfied #1
  14. 2020-10-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  15. 2020-05-13
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  16. 2020-02-13
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  17. 2019-02-08
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  18. 2019-01-31
    📄
    capital-allotment-shares
    capital · SH01
  19. 2019-01-30
    🔒
    Charge registered #1
    Lender: Helen Tullis
  20. 2019-01-11
    📄
    resolution
    resolution · RESOLUTIONS
  21. 2019-01-07
    ➕
    TULLIS, Douglas Macleod appointed
    secretary
  22. 2019-01-07
    ➕
    TULLIS, Douglas Macleod appointed
    director
  23. 2019-01-07
    ➖
    WJM SECRETARIES LIMITED resigned
    corporate-secretary
  24. 2019-01-07
    ➖
    MACLEOD, Angus George resigned
    director
  25. 2019-01-07
    ➕
    TULLIS, Colin Gordon appointed
    director
  26. 2019-01-07
    ➖
    WJM DIRECTORS LIMITED resigned
    corporate-director
  27. 2019-01-07
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  28. 2018-11-06
    🏢
    Company incorporated
    As NORTH SEA PLASTICS (HOLDINGS) LIMITED
  29. 2018-11-06
    ➕
    WJM SECRETARIES LIMITED appointed
    corporate-secretary
  30. 2018-11-06
    ➕
    MACLEOD, Angus George appointed
    director
  31. 2018-11-06
    ➕
    WJM DIRECTORS LIMITED appointed
    corporate-director

Owner dependency

83/100
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.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

55/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.

Red flags

1 high ·
Company in liquidation
high

Company is actively being wound up. Not a going concern.

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Colin Gordon Tullis
Individual · British · DOB 09/1963 · age 63
25–50%
25–50%25-50% shares · 25-50% voting07/01/2019
Mr Douglas Macleod Tullis
Individual · British · DOB 11/1967 · age 59
25–50%
25–50%25-50% shares · 25-50% voting07/01/2019
1 historic (ceased) PSC
  • Wjm Share Nominees Limitedceased 07/01/2019· 75-100% shares · 75-100% 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 →

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

9 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

Statusliquidation
Typeltd
Incorporated2018-11-06
Jurisdictionscotland
Primary SIC64209 — Activities of other holding companies n.e.c.

Registered office

C/O Quantuma Advisory Limited,Third Floor Turnberry House
175 West George Street
Glasgow
G2 2LB

Filing status

Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2026-11-19
Last: 2025-11-05

Officers (2 active · 4 resigned)

TULLIS, Douglas Macleod→
secretary · appointed 2019-01-07
View their other companies + combined net worth →
Active
TULLIS, Douglas Macleod→
director · ~59y · appointed 2019-01-07
View their other companies + combined net worth →
Active
WJM SECRETARIES LIMITED→
corporate-secretary · appointed 2018-11-06 · resigned 2019-01-07
Resigned
MACLEOD, Angus George→
director · ~52y · appointed 2018-11-06 · resigned 2019-01-07
Resigned
TULLIS, Colin Gordon→
director · ~63y · appointed 2019-01-07 · resigned 2024-01-03
Resigned
WJM DIRECTORS LIMITED→
corporate-director · appointed 2018-11-06 · resigned 2019-01-07
Resigned

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

Mortgages & charges

1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
TypeProperties
satisfied
Helen Tullis
A registered charge—30/01/201910/06/2021

Recent filings (35 total)

change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2026-04-10
resolution
resolution · RESOLUTIONS
2026-04-09
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-12-04
confirmation-statement-with-updates
confirmation-statement · CS01
2025-11-17
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-01-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-11-27
termination-director-company-with-name-termination-date
officers · TM01
2024-11-27
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-02-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-07
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-12-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-11-15
change-person-director-company-with-change-date
officers · CH01
2022-03-28
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2022-03-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-18
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-11-03