MILLER WATES (SOUTHWATER) LIMITED

🌳Matureactive

09867524 · ltd · incorporated 2015-11-11

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.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 10.5y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

not disclosed

Net worth

—

book net assets

Opportunity

74/100

Strong

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: Construction of domestic buildings

Sector: Construction

Investor take

Pursue

Active trading company with a 61-year-old founder — textbook succession opportunity.

Opportunity 74/100 (strong), bankability 85/100. Strong seller-intent signal (60/100, director aged 61). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 10.5y

50/100

clean up first

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

· Oldest live charge is 10.5 years old — likely at or near maturity.
· Two lenders — manageable, but coordination required.
· Legal-friction score 28/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (61/100)

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

Lenders & charges

4 charges (4/4 with lender, 4/4 with type)

Directors & officers

18 officers (8 active, 18 linked, 17 with DOB)

Ownership & PSC

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

Director network

14 connected companies via shared directors

Filing history

62 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

74/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Some moderate concerns — review flags.

Signal strength

100

Good data coverage for analysis.

Recent activity

Last 30 days

filings

Last 90 days

filings

• 2 officers

Last 180 days

filings

• 5 officers

Counts from Companies House filing history.

Corporate timeline (56 events)Click to expand

2026-04-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-04-08
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-04-01
➕
GIBSON, Graeme Kenneth appointed
director
2026-04-01
➖
MURDOCH, Ian resigned
director
2026-02-10
📄
appoint-person-director-company-with-name-date
officers · AP01
2026-02-10
📄
termination-director-company-with-name-termination-date
officers · TM01
2026-02-02
📄
change-person-director-company-with-change-date
officers · CH01
2026-01-31
➕
KINNIBURGH, Moira Jane appointed
director
2026-01-31
➖
JACKSON, Julie Mansfield resigned
director
2025-10-07
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-11
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-26
📄
change-person-director-company-with-change-date
officers · CH01
2024-06-13
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-06-13
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-05-30
➕
BROWN, David James appointed
director
2024-04-30
➖
FORBES-TAYLOR, Tracey Lorraine resigned
director
2023-10-11
📄
accounts-with-accounts-type-small
accounts · AA
2022-09-21
📄
accounts-with-accounts-type-full
accounts · AA
2021-11-24
📄
mortgage-satisfy-charge-full
mortgage · MR04
2021-11-24
🔓
Charge satisfied #2
2021-10-06
📄
accounts-with-accounts-type-full
accounts · AA
2020-10-01
📄
accounts-with-accounts-type-full
accounts · AA
2020-09-07
📄
appoint-person-director-company-with-name-date
officers · AP01
2020-09-01
➕
WAINWRIGHT, Philip Michael appointed
director
2020-08-07
📄
termination-director-company-with-name-termination-date
officers · TM01
2020-07-31
➖
JONES, Darren Robert resigned
director
2020-07-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2020-07-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2020-07-13
➖
LEACH, Martin Geoffrey resigned
director
2020-07-13
➖
MEGHANI, Alykhan Alnoor resigned
director
2019-09-24
🔓
Charge satisfied #4
2019-09-24
🔓
Charge satisfied #3
2019-07-08
➕
MEGHANI, Alykhan Alnoor appointed
director
2019-07-08
➖
MODLE, Andrew Colin resigned
director
2017-07-11
🔒
Charge registered #4
Lender: Hsbc Bank PLC
2017-07-11
🔒
Charge registered #3
Lender: Hsbc Bank PLC
2017-07-11
🔒
Charge registered #2
Lender: Hsbc Bank PLC
2017-05-18
🔓
Charge satisfied #1
2017-03-21
➕
BOWEN, David Alexander appointed
director
2017-03-21
➕
BRAYSHAW, Michael appointed
director
2017-03-21
➕
FLINT, Natalie Jane appointed
director
2017-03-21
➖
ALLEN, David Owen resigned
director
2017-03-21
➕
FORBES-TAYLOR, Tracey Lorraine appointed
director
2017-03-21
➕
MODLE, Andrew Colin appointed
director
2016-01-04
➕
ALLEN, David Owen appointed
director
2016-01-04
➖
DAVIES, David Huw resigned
director
2015-12-11
➖
DAVIES, David Huw resigned
secretary
2015-12-11
🔒
Charge registered #1
Lender: Anthony Merrick Burrell and Louise Iona Burrell
2015-12-10
➕
JACKSON, Julie Mansfield appointed
director
2015-12-10
➕
JONES, Darren Robert appointed
director

Showing most recent 50 of 56 events

Owner dependency

48/100

Moderate — manageable with handover

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

FACTORS

-8 active directors: Broader management team in place — suggests transferable governance.
+Senior director age: Director aged approximately 61 — approaching natural succession window.

Succession & seller-readiness

45/100

Moderate signal

Some succession indicators present. Worth watching; approach if sector/strategy fits.

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 61. Early succession window.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

2 med ·

2 director resignations in last 12 months

medium

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

Evidence: JACKSON, Julie Mansfield resigned 2026-01-31; MURDOCH, Ian resigned 2026-04-01

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.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️

Miller Homes Holdings Limited

Corporate parent · holds 25-50% shares

significant stake

🏛️

Wates Group Limited

Corporate parent · holds 25-50% shares

significant stake

⬇

MILLER WATES (SOUTHWATER) LIMITED

This company · 09867524

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Miller Homes Holdings Limited Corporate entity	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016
Wates Group Limited Corporate entity	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016

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 · Construction · DE postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
24HOURS RAPID RESPONSE PLUMBER LIMITED→ 16858145 · est 2025 · no financials extracted	—	—	—	—	—	—	—
3 CORE SPARKIES LTD→ 16921184 · est 2025 · no financials extracted	—	—	—	—	—	—	—
A. DAWBER LIMITED→ 03989548 · est 2000 · no financials extracted	—	—	—	—	25y	—	—
A.C.S JOINERY & BUILDING LIMITED→ 10092251 · est 2016 · no financials extracted	—	—	—	—	10y	—	—
ABBEY GLASS (DERBY) LIMITED→ 03042266 · est 1995 · no financials extracted	—	—	—	—	31y	—	—
ABEO GROUP LIMITED→ 14455030 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
ABERBRAINT LTD→ 15190538 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
ABO PLANT HIRE LTD→ 04181096 · est 2001 · no financials extracted	—	—	—	—	25y	—	—
ABS CONSTRUCTIONS (LONDON) LTD→ 11569973 · est 2018 · no financials extracted	—	—	—	—	7y	—	—
ABSOLUTE BUILDING SERVICES (UK) LTD→ 08813917 · est 2013 · no financials extracted	—	—	—	—	12y	—	—
AC AZURE MANAGEMENT LTD→ 15148663 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
AC BUILDING CONTRACTS LIMITED→ 13406152 · est 2021 · no financials extracted	—	—	—	—	4y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

6 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

Incorporated2015-11-11

Jurisdictionengland-wales

Primary SIC41202 — Construction of domestic buildings

Registered office

2 Centro Place

Pride Park

Derby

Derbyshire

DE24 8RF

Filing status

Accounts

Next due: 2026-09-30

Last made up to: 2024-12-31

Confirmation statement

Next due: 2026-11-24

Last: 2025-11-10