168 DEVELOPMENT LTD
🏛️Establishedactive
11791385 · ltd · incorporated 2019-01-28
Investment thesis
Unencumbered property vehicle — clean asset-backed target with refinance headroom.
Why interesting: Property-holding entity with no live charges; straightforward asset-backed case.
Why risky: Values depend on title and valuation; property-specific market exposure.
Why now
Window steady · low confidence
Asset base steady — strong defensive profile, no urgency cue.
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 Mar 2025
Net worth
£-940
book net assets
Opportunity
77/100
Strong
What this business does
Primary activity: Development of building projects
Sector: Construction
ALSO REGISTERED FOR
- 68100Buying and selling of own real estate
- 68209Other letting and operating of own or leased real estate
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 77/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).
Data confidence
Overall: medium (78/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Company profile
address, 3 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
Confirmed no charges registered
85
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
Network not yet resolved
30
Filing history
22 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
77/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
65
Adequate — check latest filings for context.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
90
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 105 (micro)Negative net assets
Liabilities exceed assets by £940
Net assets shrinking
Down £2,591 YoY
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
-£940
↓ 157% YoY
Current Assets
£8k
↓ 74% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 105 (micro)| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total assets | £80 | £1.7k |
| Current assets | £8.4k | £32.4k |
| Net assets | £-940 | £1.7k |
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
0
filings
Last 90 days
0
filings
Last 180 days
2
filings
- • 1 persons-with-significant-control
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (17 events)Click to expand
- 2026-03-13📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2025-10-23📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2025-10-23📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-12-19📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-09-03📄change-person-director-company-with-change-dateofficers · CH01
- 2023-08-24📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-07-30📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2021-08-06📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-05-30📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-05-29📄change-account-reference-date-company-previous-extendedaccounts · AA01
- 2019-09-05📄appoint-person-director-company-with-name-dateofficers · AP01
- 2019-09-01➕CHENG, Rose Pik Yue appointeddirector
- 2019-06-27📄change-account-reference-date-company-current-shortenedaccounts · AA01
- 2019-04-11📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2019-01-28🏢Company incorporatedAs 168 DEVELOPMENT LTD
- 2019-01-28➕CHENG, Kin Chiu appointeddirector
- 2019-01-28📄incorporation-companyincorporation · NEWINC
Owner dependency
79/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
- +Senior director age: Director aged approximately 60 — approaching natural succession window.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
- +No director turnover: Company is 7 years old with no director changes — suggests a very tight-knit founder team never broadened.
Succession & seller-readiness
46/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- secondaryFounder aged 58+: Senior director is approximately 60. Early succession window.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mrs Rose Pik Yue Cheng Individual · British · DOB 04/1971 · age 55 | 25–50% | 25–50% | 25-50% shares · 25-50% voting | 28/01/2019 |
Mr Kin Chiu Cheng Individual · British · DOB 10/1966 · age 60 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 28/01/2019 |
1 historic (ceased) PSC
- Mr Kin Chiu Chengceased 12/03/2026· 50-75% shares
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
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|---|---|---|---|---|---|---|---|
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| ACWORKS LTD→ 14827484 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| AD PERRY ELECTRICAL LTD→ 13254310 · est 2021 · no financials extracted | — | — | — | — | 5y | — | — |
| ADAM BATHROOMS LIMITED→ 06512614 · est 2008 · no financials extracted | — | — | — | — | 18y | — | — |
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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
Incorporated2019-01-28
Jurisdictionengland-wales
Primary SIC41100 — Development of building projects
Registered office
29 The Hollows
Long Eaton
Nottingham
NG10 2ES
United Kingdom
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-02-28
Last: 2026-02-14
Officers (2 active · 0 resigned)
CHENG, Kin Chiu→
Activedirector · ~60y · appointed 2019-01-28
View their other companies + combined net worth →
CHENG, Rose Pik Yue→
Activedirector · ~55y · appointed 2019-09-01
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Recent filings (22 total)
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-03-13
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-02-15
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-10-23
accounts-with-accounts-type-micro-entity
accounts · AA
2025-10-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-15
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-19
change-person-director-company-with-change-date
officers · CH01
2024-09-03
confirmation-statement-with-updates
confirmation-statement · CS01
2024-02-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-01-31
accounts-with-accounts-type-micro-entity
accounts · AA
2023-08-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-01-31
accounts-with-accounts-type-micro-entity
accounts · AA
2022-07-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-08
accounts-with-accounts-type-micro-entity
accounts · AA
2021-08-06
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-02-02