INNOVATION CENTRE - ORKNEY LTD

💤Zombieactive

SC717016 · ltd · incorporated 2021-12-07

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.

Why now

Window steady · low confidence

Steady and stalled — no momentum either way. Needs an approach trigger.

What changed my view

Last 30 days

No material changes in the last 30 days.

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Jan 2025

Net worth

—

book net assets

Opportunity

65/100

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

Pass (distressed without resilience)

Distressed active trading company — structural issues outweigh the discount.

Opportunity 65/100 (strong), bankability 70/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Resolve: 1 insolvency-related filing on record. Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding. Most likely exit: share sale to pe / searcher (58/100).

Data confidence

Overall: high (82/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 1 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

Confirmed no charges registered

Directors & officers

2 officers (1 active, 2 linked, 2 with DOB)

Ownership & PSC

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

Director network

9 connected companies via shared directors

Filing history

24 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

65/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Some acquirability indicators.

Risk profile

Some moderate concerns — review flags.

Signal strength

Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-01-31	2024-01-31
Average employees	0	0

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

filings

Last 90 days

filings

Last 180 days

filings

• 1 persons-with-significant-control
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (24 events)Click to expand

2026-02-06
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2025-09-08
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-28
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-10-27
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-10-28
📄
accounts-with-accounts-type-dormant
accounts · AA
2022-09-12
📄
change-person-director-company-with-change-date
officers · CH01
2022-04-25
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-04-25
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2022-04-25
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-04-22
➕
FOULIS, Lisa appointed
director
2022-04-22
➖
JOHNSTON, Barry, Dr resigned
director
2022-04-12
📄
capital-name-of-class-of-shares
capital · SH08
2022-04-12
📄
memorandum-articles
incorporation · MA
2022-04-12
📄
resolution
resolution · RESOLUTIONS
2022-04-12
📄
resolution
resolution · RESOLUTIONS
2022-04-12
📄
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2022-04-12
📄
legacy
capital · SH20
2022-04-12
⚠️
legacy
insolvency · CAP-SS
2022-04-12
📄
resolution
resolution · RESOLUTIONS
2022-04-12
📄
capital-allotment-shares
capital · SH01
2021-12-07
🏢
Company incorporated
As INNOVATION CENTRE - ORKNEY LTD
2021-12-07
➕
JOHNSTON, Barry, Dr appointed
director
2021-12-07
📄
change-account-reference-date-company-current-shortened
accounts · AA01
2021-12-07
📄
incorporation-company
incorporation · NEWINC

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

1 high ·

1 insolvency-related filing on record

high

Filings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.

Evidence: 2022-04-12: legacy

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Dr Barry Johnston Individual · British · DOB 09/1977 · age 49	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	07/12/2021

1 historic (ceased) PSC

Miss Lisa Foulisceased 06/02/2026· significant influence

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 · Property · KW postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
REID MARINE LIMITED→ SC071758 · est 1980	£6.75M £5.74M–£7.76M	—	£6.75M	—	45y	79	78y
BALLOAN LIMITED→ SC211885 · est 2000	£537.6k £457.0k–£618.3k	—	£537.6k	—	25y	80	72y
PENTLAND PROPERTIES (SCOTLAND) LTD→ SC393554 · est 2011	£349.2k £296.8k–£401.6k	—	£349.2k	—	15y	79	59y
CAITHNESS INVESTORS LTD→ SC383490 · est 2010	£317.5k £269.9k–£365.1k	—	£317.5k	—	15y	80	80y
NORRIAN LTD.→ SC394137 · est 2011	£315.0k £267.7k–£362.2k	—	£315.0k	—	15y	80	60y
ORKNEY QUALITY DEVELOPMENTS LIMITED→ SC178227 · est 1997	£300.9k £255.8k–£346.0k	—	£300.9k	—	28y	80	63y
ORKNEY HOMES TRUST LIMITED→ SC132048 · est 1991	£161.5k £137.3k–£185.7k	—	£161.5k	—	34y	83	78y
BIRKENHILL COMPUTING SERVICES LIMITED→ SC070779 · est 1980	£153.6k £130.6k–£176.7k	—	£153.6k	—	46y	79	82y
GESTAQUOY LTD→ SC434200 · est 2012	£86.3k £73.3k–£99.2k	—	£86.3k	—	13y	79	58y
BRORA PROPERTIES LIMITED→ SC262296 · est 2004	£71.9k £61.1k–£82.7k	—	£71.9k	—	22y	80	82y
JOHNSTON PROPERTIES (ORKNEY) LIMITED→ SC632400 · est 2019	£45.1k £38.3k–£51.9k	—	£45.1k	—	6y	79	71y
ENTERPRISE PROPERTIES (ORKNEY) LIMITED→ SC327200 · est 2007	—	—	—	0	18y	83	64y

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

Statusactive

Typeltd

Incorporated2021-12-07

Jurisdictionscotland

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

Registered office

Innovation Centre - Orkney

Hatston Pier Road

Kirkwall

Orkney

KW15 1ZL

United Kingdom

Filing status

Accounts

Next due: 2026-10-31

Last made up to: 2025-01-31

Confirmation statement

Next due: 2026-12-20

Last: 2025-12-06

Officers (1 active · 1 resigned)

FOULIS, Lisa→

director · ~40y · appointed 2022-04-22

View their other companies + combined net worth →

Active

JOHNSTON, Barry, Dr→

director · ~49y · appointed 2021-12-07 · resigned 2022-04-22

Resigned

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

Recent filings (24 total)

cessation-of-a-person-with-significant-control

persons-with-significant-control · PSC07

2026-02-06

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-12-08

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

accounts · AA

2025-09-08

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-12-16

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

accounts · AA

2024-10-28

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-12-12

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

accounts · AA

2023-10-27

confirmation-statement-with-updates

confirmation-statement · CS01

2022-12-21

accounts-with-accounts-type-dormant

accounts · AA

2022-10-28

change-person-director-company-with-change-date

officers · CH01

2022-09-12

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

officers · TM01

2022-04-25

notification-of-a-person-with-significant-control

persons-with-significant-control · PSC01

2022-04-25

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

officers · AP01

2022-04-25

capital-name-of-class-of-shares

capital · SH08

2022-04-12

memorandum-articles

incorporation · MA

2022-04-12