MRG DEVELOPMENTS LIMITED

🌳Matureactive
NI042274 · ltd · incorporated 2002-01-09
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
—
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
Pursue
Property-backed borrower with a 62-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 57/100. Strong seller-intent signal (70/100, director aged 62). Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

6 live charges · 4 lenders · oldest 24.2y

35/100
too messy

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

  • · Oldest live charge is 24.2 years old — likely at or near maturity.
  • · 4 lenders named — inter-creditor friction likely.
  • · Legal-friction score 35/100 — workable, but lender will want more DD.

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
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
7 officers (2 active, 7 linked, 6 with DOB)
87
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
2 connected companies via shared directors
51
Filing history
71 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
85
Strong succession / seller-readiness signals.
Risk profile
82
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Mar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-03-312024-03-31
Average employees200200

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
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
  1. 2025-12-10
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-12-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2023-10-23
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  5. 2023-10-20
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  6. 2022-12-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2021-12-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2021-10-04
    📄
    cessation-of-a-person-with-significant-control
    persons-with-significant-control · PSC07
  9. 2021-10-04
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  10. 2021-10-04
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  11. 2021-08-30
    ➖
    REA, Fred resigned
    secretary
  12. 2021-08-30
    ➖
    REA, Fred resigned
    director
  13. 2020-12-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2019-12-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2018-12-12
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  16. 2017-12-20
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  17. 2016-12-02
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  18. 2007-04-04
    🔒
    Charge registered #6
    Lender: Capital Home Loans LTD
  19. 2006-08-01
    🔒
    Charge registered #5
    Lender: Capital Home Loans Limited
  20. 2006-08-01
    🔒
    Charge registered #4
    Lender: The Governor and Company of the Bank of Ireland
  21. 2005-12-09
    🔒
    Charge registered #3
    Lender: The Governor and Company of the Bank of Ireland
  22. 2005-08-22
    🔒
    Charge registered #2
    Lender: The Governor and Company of the Bank of Ireland
  23. 2005-04-01
    ➕
    GIBSON, Erin Hugh appointed
    director
  24. 2003-03-01
    ➖
    MCKENNA, Leo resigned
    director
  25. 2003-03-01
    ➖
    MCKENNA, Leo Francis resigned
    director
  26. 2002-03-07
    🔒
    Charge registered #1
    Lender: Ulster Bank Limited
  27. 2002-03-01
    ➕
    MCKENNA, Leo appointed
    director
  28. 2002-03-01
    ➕
    REA, Fred appointed
    director
  29. 2002-01-17
    ➕
    REA, Bryn Alexander appointed
    director
  30. 2002-01-17
    ➕
    MCKENNA, Leo Francis appointed
    director
  31. 2002-01-17
    ➖
    PALMER, Robert Desmond resigned
    director
  32. 2002-01-09
    🏢
    Company incorporated
    As MRG DEVELOPMENTS LIMITED
  33. 2002-01-09
    ➕
    REA, Fred appointed
    secretary
  34. 2002-01-09
    ➕
    PALMER, Robert Desmond appointed
    director

Owner dependency

76/100
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.
  • +Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 62 — approaching natural succession window.

Succession & seller-readiness

76/100
Likely off-market candidate

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 24 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 24 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
6 live charges
low

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

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Erin Hugh Gibson
Individual · British · DOB 09/1964 · age 62
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
Mr Bryn Alexander Rea
Individual · British · DOB 05/1972 · age 54
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016
1 historic (ceased) PSC
  • Mr Fred Reaceased 31/08/2021· 25-50% 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

7 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
Incorporated2002-01-09
Jurisdictionnorthern-ireland
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

34 Dufferin Avenue
Bangor
BT20 3AA

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-10-18
Last: 2025-10-04

Officers (2 active · 5 resigned)

GIBSON, Erin Hugh→
director · ~62y · appointed 2005-04-01
View their other companies + combined net worth →
Active
REA, Bryn Alexander→
director · ~54y · appointed 2002-01-17
View their other companies + combined net worth →
Active
REA, Fred→
secretary · appointed 2002-01-09 · resigned 2021-08-30
Resigned
MCKENNA, Leo→
director · ~84y · appointed 2002-03-01 · resigned 2003-03-01
Resigned
MCKENNA, Leo Francis→
director · ~61y · appointed 2002-01-17 · resigned 2003-03-01
Resigned
PALMER, Robert Desmond→
director · ~85y · appointed 2002-01-09 · resigned 2002-01-17
Resigned
REA, Fred→
director · ~79y · appointed 2002-03-01 · resigned 2021-08-30
Resigned

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

Mortgages & charges

6
Total charges
6
Outstanding
3
Active lenders
Status:Lender:6 of 6 shown
TypeProperties
outstanding
Capital Home Loans
Capital Home Loans LTD
Mortgage or charge1 property04/04/2007—
outstanding
Capital Home Loans
Capital Home Loans Limited
Mortgage or charge1 property01/08/2006—
outstanding
The Governor and Company of the Bank of Ireland
Mortgage or charge1 property01/08/2006—
outstanding
The Governor and Company of the Bank of Ireland
Mortgage or charge1 property09/12/2005—
outstanding
The Governor and Company of the Bank of Ireland
Mortgage or charge1 property22/08/2005—
outstanding
NatWest Group
Ulster Bank Limited
Mortgage or charge1 property07/03/2002—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (71 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-14
accounts-with-accounts-type-micro-entity
accounts · AA
2024-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-22
accounts-with-accounts-type-micro-entity
accounts · AA
2023-12-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-23
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-10-20
accounts-with-accounts-type-micro-entity
accounts · AA
2022-12-19
confirmation-statement-with-updates
confirmation-statement · CS01
2022-10-07
accounts-with-accounts-type-micro-entity
accounts · AA
2021-12-22
confirmation-statement-with-updates
confirmation-statement · CS01
2021-10-04
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-10-04
termination-secretary-company-with-name-termination-date
officers · TM02
2021-10-04
termination-director-company-with-name-termination-date
officers · TM01
2021-10-04