ARDBOE COLDSTORE LTD

📈Growthactive

NI049805 · ltd · incorporated 2004-02-25

Investment thesis

Growth-phase business — story-led; valuation sensitive to momentum.

Why interesting: Trading is scaling; acquirers paying for trajectory get disproportionate leverage.

Why risky: Price often leads fundamentals; dependency on founder often high.

🔒Estimated value

—

Upgrade to see

Turnover

£15.26M

year to Jul 2025

Net worth

—

book net assets

Opportunity

79/100

Strong

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What this business does

Primary activity: SIC 52103

Sector: Transportation & storage

Investor take

Pursue

Leverage-led grower with a 67-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 57/100. Strong seller-intent signal (75/100, director aged 67). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 10 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (77/100).

🏦

Refinance opportunity

17 live charges · 10 lenders · oldest 21.2y

45/100

clean up first

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

· Oldest live charge is 21.2 years old — likely at or near maturity.
· 10 lenders named — inter-creditor friction likely.
· Legal-friction score 40/100 — workable, but lender will want more DD.
· Profitable and stable/growing — lender coverage supportable.

Data confidence

Overall: medium (79/100)

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

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

17 charges (17/17 with lender, 17/17 with type)

Directors & officers

6 officers (4 active, 6 linked, 4 with DOB)

Ownership & PSC

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

Director network

2 connected companies via shared directors

Filing history

96 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →

Opportunity Score

79/100Strong

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

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102

Profitable

Profit before tax £2,012,753

Strong revenue growth

Turnover up 19% YoY

Turnover YoY

+19%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2025-07-31	2024-07-31
Turnover	£15.26M	£12.77M
Gross profit	£6.88M	£6.68M
Operating profit	£2.21M	£2.18M
Profit before tax	£2.01M	£1.92M
Average employees	12200	10600

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

🔒Filing-note intelligence

4 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

• 1 accounts
• 1 confirmation-statement
• 1 officers

Last 180 days

filings

• 1 accounts
• 1 confirmation-statement
• 1 officers

Counts from Companies House filing history.

Corporate timeline (57 events)Click to expand

2026-04-28
📄
accounts-with-accounts-type-full
accounts · AA
2026-03-30
📄
replacement-filing-of-director-appointment-with-name
officers · RP01AP01
2025-04-28
📄
accounts-with-accounts-type-full
accounts · AA
2024-04-24
📄
accounts-with-accounts-type-full
accounts · AA
2023-05-02
📄
accounts-with-accounts-type-full
accounts · AA
2022-12-13
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2022-06-07
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-06-06
📄
accounts-with-accounts-type-full
accounts · AA
2021-08-01
➕
CARSON, Fiona appointed
director
2021-07-30
📄
accounts-with-accounts-type-full
accounts · AA
2020-07-24
📄
accounts-with-accounts-type-full
accounts · AA
2019-08-06
📄
accounts-with-accounts-type-full
accounts · AA
2019-05-23
📄
memorandum-articles
incorporation · MA
2019-05-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-05-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-05-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-05-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-05-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2019-05-21
🔓
Charge satisfied #13
2019-05-21
🔓
Charge satisfied #12
2019-05-21
🔓
Charge satisfied #11
2019-05-21
🔓
Charge satisfied #10
2019-05-21
🔓
Charge satisfied #9
2019-05-13
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2019-05-02
🔒
Charge registered #17
Lender: Santander UK PLC (As Security Trustee)
2019-05-02
🔒
Charge registered #16
Lender: Santander UK PLC
2019-05-02
🔒
Charge registered #14
Lender: Santander UK PLC
2019-05-01
🔒
Charge registered #15
Lender: Santander UK PLC
2018-03-28
🔒
Charge registered #13
Lender: Aib Group (UK) P.L.C
2017-07-20
🔓
Charge satisfied #8
2017-07-20
🔓
Charge satisfied #7
2017-07-20
🔓
Charge satisfied #6
2017-07-20
🔓
Charge satisfied #5
2017-07-11
🔒
Charge registered #12
Lender: NI Growth Loan Fund LP
2017-07-11
🔒
Charge registered #11
Lender: Aib Group (UK) P.L.C
2017-07-11
🔒
Charge registered #10
Lender: Aib Group (UK) P.L.C
2017-07-11
🔒
Charge registered #9
Lender: Aib Group (UK) PLC T/a First Trust Bank
2016-03-11
🔒
Charge registered #8
Lender: Funding Knight Services Limited (As Trustee for the Secured Parties)
2012-01-26
🔒
Charge registered #7
Lender: Close Asset Finance Limited
2011-11-25
🔓
Charge satisfied #4
2011-03-25
🔓
Charge satisfied #3
2011-01-14
🔒
Charge registered #6
Lender: Northern Bank Limited
2011-01-13
🔓
Charge satisfied #1
2010-12-01
🔒
Charge registered #5
Lender: Northern Bank Limited
2007-09-03
➕
CARSON, Fiona appointed
secretary
2007-08-16
➖
FORBES, Phelim Hugh resigned
director
2007-03-12
🔓
Charge satisfied #2
2007-01-26
🔒
Charge registered #4
Lender: The Governor and Company of the Bank of Ireland
2007-01-05
🔒
Charge registered #3
Lender: The Governor and Company of the Bank of Ireland
2006-10-18
➖
QUINN, Peter resigned
director

Showing most recent 50 of 57 events

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 22 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 67 — 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 67. 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 22 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 22 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 med ·

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

Windmill Holdings Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Windmill Holdings Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

ARDBOE COLDSTORE LTD

This company · NI049805

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

Shareholders & ownership

2 active beneficial owners · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Windmill Holdings Limited Corporate entity	75–100%	—	75-100% shares	13/12/2022
Mr Eugene Liam Patrick Carson Individual · British · DOB 01/1959 · age 67	—	50–75%	board control50-75% voting · board control	01/05/2016

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 · Transport & logistics · BT postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
PATMOND ENERGY LIMITED→ NI030470 · est 1996	£10.68M £8.01M–£13.35M	£40.12M	—	400	30y	87	76y
MOTIS IRELAND LIMITED→ NI043780 · est 2002	£8.42M £6.31M–£10.52M	£57.92M	—	5900	23y	84	59y
MM FREIGHT LTD→ NI614252 · est 2012	£6.21M £4.65M–£7.76M	£41.54M	—	200	13y	88	53y
LOANE TRANSPORT LIMITED→ NI016810 · est 1983	£6.20M £4.65M–£7.75M	£25.10M	—	13500	42y	87	71y
ASAP CARGO LTD→ NI064810 · est 2007	£5.50M £4.12M–£6.87M	£16.92M	—	5000	19y	91	53y
MCCONAGHY REFRIGERATED DISTRIBUTION LIMITED→ NI626237 · est 2014	£4.96M £3.72M–£6.21M	£12.21M	—	6100	11y	84	58y
B.P. MCKEEFRY LIMITED→ NI028403 · est 1994	£4.62M £3.47M–£5.78M	£23.77M	—	11000	32y	88	61y
EXPRESS DISTRIBUTION SERVICES LTD→ NI033129 · est 1997	£3.52M £2.64M–£4.40M	£9.88M	—	6000	28y	87	65y
R BARKLEY & SONS LIMITED→ NI038757 · est 2000	£2.00M £1.50M–£2.50M	£14.06M	—	8700	25y	87	72y
MULGREW HAULAGE LIMITED→ NI038151 · est 2000	£1.89M £1.41M–£2.36M	—	—	332	26y	87	81y
WILL FREIGHT SERVICES LIMITED→ NI013381 · est 1979	£639.5k £479.6k–£799.4k	£786.2k	—	400	47y	87	63y
A1 TRANSPORT (NI) LTD→ NI073250 · est 2009	£301.3k £226.0k–£376.6k	—	—	77	16y	94	58y

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

Incorporated2004-02-25

Jurisdictionnorthern-ireland

Primary SIC52103 — SIC 52103

Registered office

Ardboe Business Park

Kilmascally Road

Coagh

Dungannon

BT71 5BJ

Filing status

Accounts

Next due: 2027-04-30

Last made up to: 2025-07-31

Confirmation statement

Next due: 2027-03-11

Last: 2026-02-25

Officers (4 active · 2 resigned)

CARSON, Eugene Liam Patrick→

secretary · appointed 2004-02-25

View their other companies + combined net worth →

Active

CARSON, Fiona→

secretary · appointed 2007-09-03

View their other companies + combined net worth →

Active

CARSON, Eugene Liam Patrick→

director · ~67y · appointed 2004-02-25

View their other companies + combined net worth →

Active

CARSON, Fiona→

director · ~59y · appointed 2021-08-01

View their other companies + combined net worth →

Active

FORBES, Phelim Hugh→

director · ~75y · appointed 2004-02-25 · resigned 2007-08-16

Resigned

QUINN, Peter→

director · ~83y · appointed 2004-04-08 · resigned 2006-10-18

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:17 of 17 shown

		Type	Properties
outstanding	Santander Santander UK PLC (As Security Trustee)	A registered charge	1 property	02/05/2019	—
outstanding	Santander Santander UK PLC	A registered charge	—	02/05/2019	—
outstanding	Santander Santander UK PLC	A registered charge	1 property	02/05/2019	—
outstanding	Santander Santander UK PLC	A registered charge	1 property	01/05/2019	—
satisfied	Aib Group (UK) P.L.C	A registered charge	2 properties	28/03/2018	21/05/2019
satisfied	NI Growth Loan Fund LP	A registered charge	—	11/07/2017	21/05/2019
satisfied	Aib Group (UK) P.L.C	A registered charge	—	11/07/2017	21/05/2019
satisfied	Aib Group (UK) P.L.C	A registered charge	1 property	11/07/2017	21/05/2019
satisfied	Aib Group (UK) T/a First Trust Bank Aib Group (UK) PLC T/a First Trust Bank	A registered charge	—	11/07/2017	21/05/2019
satisfied	Funding Knight Services (As Trustee for the Secured Parties) Funding Knight Services Limited (As Trustee for the Secured Parties)	A registered charge	—	11/03/2016	20/07/2017
satisfied	Close Asset Finance Close Asset Finance Limited	Mortgage and charge	1 property	26/01/2012	20/07/2017
satisfied	Northern Bank Northern Bank Limited	Mortgage/charge	1 property	14/01/2011	20/07/2017
satisfied	Northern Bank Northern Bank Limited	Floating charge	1 property	01/12/2010	20/07/2017
satisfied	The Governor and Company of the Bank of Ireland	Mortgage or charge	2 properties	26/01/2007	25/11/2011
satisfied	The Governor and Company of the Bank of Ireland	Debenture	1 property	05/01/2007	25/03/2011
satisfied	NatWest Group Ulster Bank Limited	Debenture	1 property	14/03/2005	12/03/2007
satisfied	NatWest Group Ulster Bank Limited	Solicitors letter of undertaking	1 property	04/03/2005	13/01/2011

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

Recent filings (96 total)

accounts-with-accounts-type-full

accounts · AA

2026-04-28

confirmation-statement-with-no-updates

confirmation-statement · CS01

2026-04-01

replacement-filing-of-director-appointment-with-name

officers · RP01AP01

2026-03-30

accounts-with-accounts-type-full

accounts · AA

2025-04-28

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-04-11

accounts-with-accounts-type-full

accounts · AA

2024-04-24

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-02-27

accounts-with-accounts-type-full

accounts · AA

2023-05-02

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-03-07

notification-of-a-person-with-significant-control

persons-with-significant-control · PSC02

2022-12-13

appoint-person-director-company-with-name-date

officers · AP01

2022-06-07

accounts-with-accounts-type-full

accounts · AA

2022-06-06

confirmation-statement-with-no-updates

confirmation-statement · CS01

2022-03-31

accounts-with-accounts-type-full

accounts · AA

2021-07-30

confirmation-statement-with-no-updates

confirmation-statement · CS01

2021-04-27