IAN MACLEOD DISTILLERS LIMITED
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Cash
£4.6M
+2.3% highest in 3 filed years
Net assets
£201M
+1.2% highest in 3 filed years
Employees
371
+15.9% highest in 3 filed years
Profit before tax
£8.5M
-45.8% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
2 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
3-year trend · vs Consumer Staples median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £160,557,000 | £128,255,000 | £118,024,000 | -8% | |
| Operating profit | £37,510,000 | £22,627,000 | £16,809,000 | -25.7% | |
| Profit before tax | £33,809,000 | £15,628,000 | £8,468,000 | -45.8% | |
| Net profit | £25,971,000 | £11,627,000 | £5,468,000 | -53% | |
| Cash | £2,621,000 | £4,466,000 | £4,569,000 | +2.3% | |
| Total assets less current liabilities | £255,526,000 | £309,727,000 | £336,168,000 | +8.5% | |
| Net assets | £187,589,000 | £198,758,000 | £201,127,000 | +1.2% | |
| Equity | £187,589,000 | £198,758,000 | £201,127,000 | +1.2% | |
| Average employees | 277 | 320 | 371 | +15.9% | |
| Wages | £15,054,000 | £13,761,000 | £15,009,000 | +9.1% | |
| Directors' remuneration | £2,952,000 | £1,684,000 | £2,049,000 | +21.7% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 |
|---|---|---|---|---|
| Operating margin | 23.4% | 17.6% | 14.2% | |
| Net margin | 16.2% | 9.1% | 4.6% | |
| Return on capital employed | 14.7% | 7.3% | 5.0% | |
| Gearing (liabilities / total assets) | 36.1% | 41.7% | 44.8% | |
| Current ratio | 5.12x | 7.01x | 8.19x | |
| Interest cover | 9.88x | 3.93x | 2.40x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- IAN MACLEOD DISTILLERS LIMITED 2004-01-20 → present
- PETER J. RUSSELL & COMPANY LIMITED 1957-11-26 → 2004-01-20
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors therefore consider that in preparing the accounts they can properly adopt the going concern basis.”
Group structure
- IAN MACLEOD DISTILLERS LIMITED · parent
- Edinburgh Gin Distillery 100%
- Ian Macleod & Company Limited 100%
- Ian Macleod Distillers India Private Limited 100%
- Ian Macleod Taiwan Limited 100%
- Ian Macleod (Shanghai) Company Ltd 100%
- Lang Brothers Limited 100%
- Laggan Bay Distillers Limited 100%
- Hedges & Butler Limited 100%
- Wincarnis Limited 100%
- Peter J Russell & Company Limited 100%
- Scottish Independent Distillers Limited 100%
- Spencerfield Spirit Company Limited 100%
- Wm Maxwell (Scotch Whisky) Limited 100%
Significant events
- “Minority stake in Laggan Bay Distillers purchased in March 2025 for £2M, making that company wholly owned.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 10 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DONALDSON, Rennie William | Secretary | 2026-04-24 | — | — |
| DOCTOR, Gordon John | Director | 2004-10-21 | Jan 1959 | British |
| DONALDSON, Rennie William | Director | 2026-01-29 | May 1984 | British |
| FARRAR, Richard William | Director | 2017-06-22 | Apr 1958 | British |
| RANKINE, Laura Agnes Anne | Director | 2017-04-20 | Feb 1979 | Scottish |
| RUSSELL, Angela Mary | Director | 2003-07-01 | Jul 1965 | British |
| RUSSELL, David William Hodder | Director | — | Feb 1940 | British |
| RUSSELL, Leonard Stuart | Director | 1993-01-07 | Jun 1961 | British |
Show 10 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MOODIE, Andrew Macdonald | Secretary | — | 2004-04-22 |
| YOUNGER, Michael James | Secretary | 2004-04-22 | 2026-04-24 |
| MACKENZIE, Roderick Nestle James | Director | 2002-04-01 | 2017-04-13 |
| PATRICK, Rupert Charles | Director | 1997-07-07 | 2004-08-31 |
| RUSSELL, Edith Stuart | Director | 2003-07-01 | 2026-01-12 |
| RUSSELL, Florence Elizabeth | Director | — | 1997-12-15 |
| RUSSELL, Peter James Sidney | Director | — | 2023-01-23 |
| SHACKLETON, Ian Alexander | Director | 2017-04-20 | 2026-06-22 |
| WILSON, James Simpson | Director | 2000-07-24 | 2011-09-14 |
| YOUNGER, Michael James | Director | 2004-07-09 | 2026-04-24 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Leonard Stuart Russell | Individual | Shares 50–75%, Voting 50–75%, Appoints directors | 2016-04-06 | Ceased 2025-11-12 |
| Leonard Stuart Russell And Others As Trustees Of The Leonard Stuart Russell 2003 Family Trust | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2025-06-16 |
Filing timeline
Last 20 of 195 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-25 | AA | accounts | Accounts with accounts type group | |
| 2026-06-23 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-28 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-04-28 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-28 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-04-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-01-30 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-07 | PSC08 | persons-with-significant-control | Notification of a person with significant control statement | |
| 2025-12-19 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-06-24 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-06-23 | AA | accounts | Accounts with accounts type group | |
| 2025-02-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-29 | AA | accounts | Accounts with accounts type group | |
| 2024-02-27 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-02-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-05-05 | AA | accounts | Accounts with accounts type group | |
| 2023-02-09 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 4
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.