R.F.B. DEVELOPMENTS LTD

🌳Matureactive
NI040479 · ltd · incorporated 2001-03-27
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 Mar 2025
Net worth
£3.12M
book net assets
Opportunity
78/100
Strong
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What this business does
Primary activity: Construction of domestic buildings
Sector: Construction
Investor take
Pursue
Active trading company with a 68-year-old founder — textbook succession opportunity.

Opportunity 78/100 (strong), bankability 57/100. Strong seller-intent signal (83/100, director aged 68). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

8 live charges · 4 lenders · oldest 25.0y

15/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 25.0 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
8 charges (8/8 with lender, 8/8 with type)
90
Directors & officers
5 officers (3 active, 5 linked, 4 with DOB)
86
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
79 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
78/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
82
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £3,122,567
Cash YoY
-36%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£334k
↓ 36% YoY
Net Worth
£3.1m
~ YoY
Current Assets
£2.3m
↑ 12% YoY
Current Liabilities
—
£0£625k£1.2m£1.9m£2.5m£3.1mMar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Total assets£3.12M£3.10M
Current assets£2.33M£2.07M
Cash£334.4k£520.7k
Debtors£16.8k£71.9k
Net assets£3.12M£3.10M

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
0
filings
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (31 events)Click to expand
  1. 2025-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-04-26
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  3. 2024-12-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-12-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-12-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-01-10
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2022-01-10
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  8. 2022-01-10
    📄
    change-person-director-company-with-change-date
    officers · CH01
  9. 2021-12-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2021-03-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2019-12-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2018-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2017-12-23
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2017-01-28
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2016-04-04
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 2005-07-04
    🔒
    Charge registered #8
    Lender: Ulster Bank Limited
  17. 2003-12-10
    🔒
    Charge registered #7
    Lender: Square East, Belfast
  18. 2003-12-10
    🔒
    Charge registered #6
    Lender: Of Ireland, Lower
  19. 2003-12-10
    🔒
    Charge registered #5
    Lender: Aib Group (UK) PLC
  20. 2003-12-10
    🔒
    Charge registered #4
    Lender: Of Ireland, Lower
  21. 2001-05-24
    🔒
    Charge registered #3
    Lender: Ulster Bank Limited
  22. 2001-05-24
    🔒
    Charge registered #2
    Lender: Ulster Bank Limited
  23. 2001-05-24
    🔒
    Charge registered #1
    Lender: Ulster Bank Limited
  24. 2001-04-25
    ➕
    BELL, Lorna Joan appointed
    director
  25. 2001-04-25
    ➕
    BELL, Ronald Frederick appointed
    director
  26. 2001-04-25
    ➖
    KANE, Dorothy May resigned
    director
  27. 2001-04-25
    ➖
    MCNEILL, Eleanor Shirley resigned
    director
  28. 2001-03-27
    🏢
    Company incorporated
    As R.F.B. DEVELOPMENTS LTD
  29. 2001-03-27
    ➕
    BELL, Lorna Joan appointed
    secretary
  30. 2001-03-27
    ➕
    KANE, Dorothy May appointed
    director
  31. 2001-03-27
    ➕
    MCNEILL, Eleanor Shirley appointed
    director

Owner dependency

91/100
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
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Long-tenure founder: Senior director has been in place 25 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 68 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

86/100
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 68. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 25 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 25 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 low
8 live charges
low

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

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Mr Ronald Frederick Bell
Individual · British · DOB 11/1958 · age 68
25–50%
—25-50% shares06/04/2016

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 →

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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

Statusactive
Typeltd
Incorporated2001-03-27
Jurisdictionnorthern-ireland
Primary SIC41202 — Construction of domestic buildings

Registered office

Unit 1 44-58 Dargan Crescent
Belfast
BT3 9JP
Northern Ireland

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-04-10
Last: 2026-03-27

Officers (3 active · 2 resigned)

BELL, Lorna Joan→
secretary · appointed 2001-03-27
View their other companies + combined net worth →
Active
BELL, Lorna Joan→
director · ~65y · appointed 2001-04-25
View their other companies + combined net worth →
Active
BELL, Ronald Frederick→
director · ~68y · appointed 2001-04-25
View their other companies + combined net worth →
Active
KANE, Dorothy May→
director · ~90y · appointed 2001-03-27 · resigned 2001-04-25
Resigned
MCNEILL, Eleanor Shirley→
director · ~66y · appointed 2001-03-27 · resigned 2001-04-25
Resigned

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

Mortgages & charges

8
Total charges
8
Outstanding
4
Active lenders
Status:Lender:8 of 8 shown
TypeProperties
outstanding
NatWest Group
Ulster Bank Limited
Mortgage or charge1 property04/07/2005—
outstanding
NatWest Group
Square East, Belfast / Ulster Bank Limited
Mortgage or charge1 property10/12/2003—
outstanding
Of Ireland, Lower / City of Dublin / The Governor And
Mortgage or charge1 property10/12/2003—
outstanding
Aib Group (UK) / Belfast BT1 3DJ
Aib Group (UK) PLC / Belfast BT1 3DJ
Mortgage or charge1 property10/12/2003—
outstanding
Of Ireland, Lower / The Governor And / City of Dublin
Mortgage or charge1 property10/12/2003—
outstanding
NatWest Group
Ulster Bank Limited
Mortgage or charge1 property24/05/2001—
outstanding
NatWest Group
Ulster Bank Limited
Mortgage or charge1 property24/05/2001—
outstanding
NatWest Group
Ulster Bank Limited
Mortgage or charge1 property24/05/2001—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (79 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-14
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-22
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2025-04-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-04-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-21
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-28
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-17
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-03-28
change-person-director-company-with-change-date
officers · CH01
2022-01-10
change-person-secretary-company-with-change-date
officers · CH03
2022-01-10
change-person-director-company-with-change-date
officers · CH01
2022-01-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-29