FIRST STEP HOMES (SOUTH WEST) LIMITED

⚰️Wound downdissolved
05550424 · ltd · incorporated 2005-08-31
Investment thesis
Company dissolved — not a live target.
Why interesting: Historical record only; useful for precedent research.
Why risky: Not transactable.
🔒Estimated value
—
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Turnover
—
not disclosed
Net worth
—
book net assets
Opportunity
59/100
Worth a look
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What this business does
Primary activity: Construction of domestic buildings
Sector: Construction
Investor take
Pass (distressed without resilience)
Distressed unclear — structural issues outweigh the discount.

Opportunity 59/100 (worth a look), bankability 62/100. High owner-dependency — earn-out structure likely required for clean transition. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

9 live charges · 3 lenders · oldest 19.9y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 19.9 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 35/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (57/100)

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
No iXBRL financials extracted
0
Lenders & charges
9 charges (9/9 with lender, 9/9 with type)
90
Directors & officers
12 officers (1 active, 12 linked, 10 with DOB)
87
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
101 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
59/100Worth a look
PassWatchWorth a lookStrongExceptional 

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

Business quality
30
Concerning — overdue filings or status flags present.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
59
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (60 events)Click to expand
  1. 2022-05-10
    📄
    gazette-dissolved-voluntary
    gazette · GAZ2(A)
  2. 2022-05-10
    🏁
    Company dissolved
  3. 2022-02-22
    📄
    gazette-notice-voluntary
    gazette · GAZ1(A)
  4. 2022-02-15
    📄
    dissolution-application-strike-off-company
    dissolution · DS01
  5. 2021-09-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2021-02-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2019-11-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2019-01-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2018-01-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2017-09-12
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  11. 2017-09-12
    📄
    change-person-director-company-with-change-date
    officers · CH01
  12. 2017-09-12
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  13. 2017-09-12
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  14. 2017-05-18
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  15. 2017-01-18
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  16. 2017-01-17
    📄
    capital-cancellation-shares
    capital · SH06
  17. 2017-01-17
    📄
    capital-return-purchase-own-shares
    capital · SH03
  18. 2017-01-05
    ➖
    BROADBENT, Walter Louis Farndon resigned
    director
  19. 2016-09-28
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  20. 2016-08-24
    📄
    capital-cancellation-shares
    capital · SH06
  21. 2016-06-02
    📄
    capital-return-purchase-own-shares
    capital · SH03
  22. 2015-02-10
    ➖
    PAGE, Martin James resigned
    director
  23. 2013-07-08
    🔓
    Charge satisfied #4
  24. 2013-03-01
    🔒
    Charge registered #9
    Lender: Mansell Construction Services Limited
  25. 2012-12-13
    ➖
    KLIMEK, Stefan Daniel resigned
    director
  26. 2012-11-15
    ➕
    COYLE, Derek Alan appointed
    director
  27. 2012-08-10
    ➖
    CHASTNEY, Trevor Norman resigned
    secretary
  28. 2012-08-10
    ➖
    CHASTNEY, Trevor Norman resigned
    director
  29. 2012-08-10
    ➖
    WYSOCKI, Jerzy Gerhard resigned
    director
  30. 2012-04-30
    ➖
    COYLE, Derek Alan resigned
    director
  31. 2011-09-28
    🔓
    Charge satisfied #8
  32. 2011-09-28
    🔓
    Charge satisfied #7
  33. 2011-09-28
    🔓
    Charge satisfied #6
  34. 2011-09-28
    🔓
    Charge satisfied #5
  35. 2011-09-28
    🔓
    Charge satisfied #3
  36. 2011-09-28
    🔓
    Charge satisfied #1
  37. 2010-12-01
    ➕
    COYLE, Derek Alan appointed
    director
  38. 2010-11-04
    ➖
    STRAKER, Christopher Anthony resigned
    director
  39. 2010-06-21
    🔒
    Charge registered #8
    Lender: The Guinness Trust (London Fund) Founded 1890 Registered 1902
  40. 2009-10-31
    ➕
    KLIMEK, Stefan Daniel appointed
    director
  41. 2009-10-31
    ➕
    PAGE, Martin James appointed
    director
  42. 2009-09-01
    ➕
    BROADBENT, Walter Louis Farndon appointed
    director
  43. 2008-08-01
    ➖
    SOPER, Naomi Vera resigned
    director
  44. 2008-05-19
    🔒
    Charge registered #7
    Lender: National Westminster Bank PLC
  45. 2008-04-24
    🔒
    Charge registered #6
    Lender: National Westminster Bank PLC
  46. 2008-03-26
    ➕
    SOPER, Naomi Vera appointed
    director
  47. 2007-09-17
    🔒
    Charge registered #5
    Lender: National Westminster Bank PLC
  48. 2006-10-27
    🔒
    Charge registered #4
    Lender: National Westminster Bank PLC
  49. 2006-09-12
    🔒
    Charge registered #3
    Lender: National Westminster Bank PLC
  50. 2006-08-03
    🔒
    Charge registered #2
    Lender: National Westminster Bank PLC
Showing most recent 50 of 60 events

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 63 — approaching natural succession window.

Succession & seller-readiness

88/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 63. Approaching typical UK retirement age — succession thinking likely.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • secondary12+ year tenure: Director in role 13 years.
  • secondaryStable-but-static management: Company is 21 years old and no new directors in the last 3 years — succession not yet being planned internally.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 high · 1 med ·
Company dissolved
high

Company has been dissolved — it no longer legally exists. Any diligence here is historical only.

Evidence: Dissolved on 2022-05-10

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.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr Derek Alan Coyle
Individual · British · DOB 11/1963 · age 63
75–100%
75–100%75-100% shares · 75-100% voting06/04/2016
1 historic (ceased) PSC
  • Mr Walter Louis Farndon Broadbentceased 14/11/2016· 50-75% shares

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

8 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

Statusdissolved
Typeltd
Incorporated2005-08-31
Jurisdictionengland-wales
Primary SIC41202 — Construction of domestic buildings

Registered office

The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG
United Kingdom

Filing status

Accounts
Next due: —
Last made up to: 2021-04-30
Confirmation statement
Next due: —
Last: —

Officers (0 active · 11 resigned)

COYLE, Derek Alan→
director · ~63y · appointed 2012-11-15
View their other companies + combined net worth →
Active
CHASTNEY, Trevor Norman→
secretary · appointed 2005-08-31 · resigned 2012-08-10
Resigned
SWIFT INCORPORATIONS LIMITED→
corporate-nominee-secretary · appointed 2005-08-31 · resigned 2005-08-31
Resigned
BOYCE, Christopher Thomas→
director · ~73y · appointed 2005-09-05 · resigned 2006-03-13
Resigned
BROADBENT, Walter Louis Farndon→
director · ~63y · appointed 2009-09-01 · resigned 2017-01-05
Resigned
CHASTNEY, Trevor Norman→
director · ~73y · appointed 2005-09-05 · resigned 2012-08-10
Resigned
COYLE, Derek Alan→
director · ~63y · appointed 2010-12-01 · resigned 2012-04-30
Resigned
KLIMEK, Stefan Daniel→
director · ~59y · appointed 2009-10-31 · resigned 2012-12-13
Resigned
PAGE, Martin James→
director · ~69y · appointed 2009-10-31 · resigned 2015-02-10
Resigned
SOPER, Naomi Vera→
director · ~48y · appointed 2008-03-26 · resigned 2008-08-01
Resigned
STRAKER, Christopher Anthony→
director · ~74y · appointed 2005-08-31 · resigned 2010-11-04
Resigned
WYSOCKI, Jerzy Gerhard→
director · ~71y · appointed 2005-09-05 · resigned 2012-08-10
Resigned

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

Mortgages & charges

9
Total charges
2
Outstanding
2
Active lenders
Status:Lender:9 of 9 shown
TypeProperties
outstanding
Mansell Construction Services
Mansell Construction Services Limited
Charge1 property01/03/2013—
satisfied
The Guinness Trust (London Fund) Founded 1890 Registered 1902
Legal charge1 property21/06/201028/09/2011
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property19/05/200828/09/2011
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property24/04/200828/09/2011
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property17/09/200728/09/2011
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property27/10/200608/07/2013
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property12/09/200628/09/2011
outstanding
National Westminster Bank
National Westminster Bank PLC
Debenture1 property03/08/2006—
satisfied
National Westminster Bank
National Westminster Bank PLC
Legal charge1 property31/05/200628/09/2011
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (101 total)

gazette-dissolved-voluntary
gazette · GAZ2(A)
2022-05-10
gazette-notice-voluntary
gazette · GAZ1(A)
2022-02-22
dissolution-application-strike-off-company
dissolution · DS01
2022-02-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-09-07
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-02-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-09-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-11-19
confirmation-statement-with-updates
confirmation-statement · CS01
2019-09-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-01-23
confirmation-statement-with-updates
confirmation-statement · CS01
2018-09-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-01-04
confirmation-statement-with-updates
confirmation-statement · CS01
2017-09-12
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2017-09-12
change-person-director-company-with-change-date
officers · CH01
2017-09-12