ADNIC DEVELOPMENTS LTD

🌿Early-stageactive

15700004 · ltd · incorporated 2024-05-02

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.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to May 2025

Net worth

—

book net assets

Opportunity

68/100

Strong

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What this business does

Primary activity: Development of building projects

Sector: Construction

ALSO REGISTERED FOR

68209Other letting and operating of own or leased real estate

Investor take

Pursue

Active trading company. Reasonable fundamentals — worth a memo before deciding.

Opportunity 68/100 (strong), bankability 60/100. 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 (58/100).

🏦

Refinance opportunity

7 live charges · 2 lenders · oldest 2.0y

35/100

too messy

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

· Newest facility, 2.0 years old — likely still in initial term.
· Two lenders — manageable, but coordination required.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: medium (73/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile

address, 2 SIC codes, incorporation date

100

Financials

1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed

Lenders & charges

7 charges (7/7 with lender, 7/7 with type)

Directors & officers

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

Ownership & PSC

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

Director network

3 connected companies via shared directors

Filing history

11 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

68/100Strong

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

Few red flags.

Signal strength

100

Good data coverage for analysis.

Key financials

1 year extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-05-31
Average employees	200

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

2 signals 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

• 2 mortgage
• 1 accounts
• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (19 events)Click to expand

2026-03-30
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-24
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-02-24
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-02-16
🔒
Charge registered #7
Lender: Ms Lending Spv 1 Limited
2026-02-16
🔒
Charge registered #6
Lender: Ms Lending Spv 1 Limited
2025-03-21
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-03-20
🔒
Charge registered #5
Lender: Aldermore Bank PLC
2024-08-13
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-13
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-06
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-06
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-01
🔒
Charge registered #4
Lender: Ms Lending Spv 1 Limited
2024-08-01
🔒
Charge registered #3
Lender: Ms Lending Spv 1 Limited
2024-08-01
🔒
Charge registered #2
Lender: Ms Lending Spv 1 Limited
2024-08-01
🔒
Charge registered #1
Lender: Ms Lending Spv 1 Limited
2024-05-02
🏢
Company incorporated
As ADNIC DEVELOPMENTS LTD
2024-05-02
➕
DOYLE, Nicholas Rodney appointed
director
2024-05-02
➕
HURLEY, Adam Scot appointed
director
2024-05-02
📄
incorporation-company
incorporation · NEWINC

Owner dependency

63/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
+Young company: Only 2.2 years old — management layer unlikely to be developed.

Succession & seller-readiness

36/100

Weak signal

Limited succession signal. Not a near-term off-market candidate.

SIGNALS

secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

1 low

7 live charges

low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Nicholas Rodney Doyle Individual · British · DOB 12/1985 · age 41	25–50%	25–50%	board control25-50% shares · 25-50% voting · board control	02/05/2024
Mr Adam Scot Hurley Individual · British · DOB 03/1990 · age 36	25–50%	25–50%	board control25-50% shares · 25-50% voting · board control	02/05/2024

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 · BB postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
A J BUTLER JOINERY LIMITED→ 05333359 · est 2005 · no financials extracted	—	—	—	—	21y	—	—
A JACKSON & SONS LIMITED→ 16351641 · est 2025 · no financials extracted	—	—	—	—	1y	—	—
A.J.B. CONSTRUCTION (NW) LTD→ 11144133 · est 2018 · no financials extracted	—	—	—	—	8y	—	—
A&G DAY BUILDING AND CONSTRUCTION LTD→ 12263016 · est 2019 · no financials extracted	—	—	—	—	6y	—	—
ADA CONSTRUCTION NW LTD→ 15177643 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
ADHAN CONSTRUCTION LIMITED→ 11268771 · est 2018 · no financials extracted	—	—	—	—	8y	—	—
ADVANCED ECO SOLUTIONS LTD→ 15145214 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
ADVANCED PAVING LIMITED→ 11173890 · est 2018 · no financials extracted	—	—	—	—	8y	—	—
AFA TELECOMS LIMITED→ 16812833 · est 2025 · no financials extracted	—	—	—	—	—	—	—
AG CONSTRUCTION (NW1) LTD→ 14540510 · est 2022 · no financials extracted	—	—	—	—	3y	—	—
AG RETAIL NUM (10) LTD→ 15661639 · est 2024 · no financials extracted	—	—	—	—	1y	—	—
AG RETAIL NUM (11) LTD→ 15661633 · est 2024 · no financials extracted	—	—	—	—	1y	—	—

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

Incorporated2024-05-02

Jurisdictionengland-wales

Primary SIC41100 — Development of building projects

Registered office

Suite 5 Blackburn Rovers Enterprise Centre

Nuttall Street

Blackburn

BB2 4JF

England

Filing status

Accounts

Next due: 2027-02-28

Last made up to: 2025-05-31

Confirmation statement

Next due: 2026-11-28

Last: 2025-11-14

Officers (2 active · 0 resigned)

DOYLE, Nicholas Rodney→

director · ~41y · appointed 2024-05-02

View their other companies + combined net worth →

Active

HURLEY, Adam Scot→

director · ~36y · appointed 2024-05-02

View their other companies + combined net worth →

Active

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:7 of 7 shown

		Type	Properties
outstanding	Ms Lending Spv 1 Ms Lending Spv 1 Limited	A registered charge	1 property	16/02/2026	—
outstanding	Ms Lending Spv 1 Ms Lending Spv 1 Limited	A registered charge	1 property	16/02/2026	—
outstanding	Aldermore Aldermore Bank PLC	A registered charge	1 property	20/03/2025	—
outstanding	Ms Lending Spv 1 Ms Lending Spv 1 Limited	A registered charge	1 property	01/08/2024	—
outstanding	Ms Lending Spv 1 Ms Lending Spv 1 Limited	A registered charge	1 property	01/08/2024	—
outstanding	Ms Lending Spv 1 Ms Lending Spv 1 Limited	A registered charge	1 property	01/08/2024	—
outstanding	Ms Lending Spv 1 Ms Lending Spv 1 Limited	A registered charge	1 property	01/08/2024	—

Click column headers to sort. Use filters above to narrow by status and lender.