TRACESOURCE LTD

🌳Matureactive

NI050703 · ltd · incorporated 2004-05-19

Investment thesis

Property vehicle with a workable charge structure — clean refinance potential.

Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.

Why risky: Dependent on title and valuation due diligence; standard property risks.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 21.3y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to May 2024

Net worth

—

book net assets

Opportunity

70/100

Strong

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: Other letting and operating of own or leased real estate

Sector: Real estate

Investor take

Pass (distressed without resilience)

Distressed property-backed borrower — structural issues outweigh the discount.

Opportunity 70/100 (strong), bankability 60/100. Strong seller-intent signal (63/100, director aged 74). Share purchase looks the cleaner deal structure. Biggest value-creation lever: File overdue accounts. Clears statutory overdue flag — immediate bankability uplift for refinance conversations. Most likely exit: share sale to pe / searcher (45/100).

🏦

Refinance opportunity

2 live charges · oldest 21.3y

65/100

clean up first

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

· Oldest live charge is 21.3 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 25/100 — workable, but lender will want more DD.

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

2 charges (2/2 with lender, 2/2 with type)

Directors & officers

6 officers (3 active, 6 linked, 3 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

4 connected companies via shared directors

Filing history

61 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

70/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Some moderate concerns — review 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

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102

Metric	2024-05-31	2023-05-31
Average employees	0	0

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

filing

• 1 gazette

Last 90 days

filing

• 1 gazette

Last 180 days

filing

• 1 gazette

Counts from Companies House filing history.

Corporate timeline (28 events)Click to expand

2026-04-28
📄
gazette-notice-compulsory
gazette · GAZ1
2025-10-09
📄
appoint-person-director-company-with-name-date
officers · AP01
2025-09-29
➕
DURKAN, Patrick appointed
director
2025-02-19
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-02-29
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-05-18
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2022-02-23
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2021-08-04
📄
gazette-filings-brought-up-to-date
gazette · DISS40
2021-08-03
📄
gazette-notice-compulsory
gazette · GAZ1
2021-05-27
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2020-02-27
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2019-02-26
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2019-02-26
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2018-02-08
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2017-02-28
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2016-07-06
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2016-02-26
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2015-10-12
➕
MC KEEVER, Martina appointed
director
2015-10-12
➖
MCKEEVER, Brian resigned
director
2009-01-27
🔒
Charge registered #2
Lender: Ulster Bank Limited
2007-05-19
➖
C.S. SECRETARIAL SERVICES LTD resigned
corporate-secretary
2005-01-26
🔒
Charge registered #1
Lender: Ulster Bank Limited
2004-05-19
🏢
Company incorporated
As TRACESOURCE LTD
2004-05-19
➕
MCKEEVER, Martina appointed
secretary
2004-05-19
➕
C.S. SECRETARIAL SERVICES LTD appointed
corporate-secretary
2004-05-19
➕
MCKEEVER, Brian appointed
director
2004-05-19
➕
CS DIRECTOR SERVICES LIMITED appointed
corporate-director
2004-05-19
➖
CS DIRECTOR SERVICES LIMITED resigned
corporate-director

Owner dependency

73/100

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.
+Founder age: Director aged approximately 74 — succession pressure is live.

Succession & seller-readiness

66/100

Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS

primaryFounder aged 70+: Senior director is approximately 74 years old. Natural succession window is now.
secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

1 high ·

Accounts overdue

high

Statutory accounts have not been filed by their due date. Can indicate admin breakdown, cash preservation, or deliberate delay.

Evidence: Next due: 2026-02-28

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Mr Brian Mc Keever Individual · Irish · DOB 03/1971 · age 55	75–100%	75–100%	75-100% shares · 75-100% voting	20/05/2016

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 · Property · BT postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
BALLINAMALLARD ENTERPRISE COMPANY LIMITED→ NI034886 · est 1998	£236.5k £201.0k–£271.9k	—	£236.5k	—	27y	83	86y
ANTRIM COUNTY INVESTMENT MANAGERS LIMITED→ NI020714 · est 1987	£141.8k £120.5k–£163.0k	—	£141.8k	—	38y	83	78y
JECK LTD→ NI616037 · est 2012	—	£11.66M	—	2700	13y	84	59y
CFR 75 LIMITED→ NI623827 · est 2014	—	£791.1k	—	0	12y	84	59y
MCCARTHY PRIME PROPERTIES LTD→ NI052166 · est 2004	—	£10.9k	—	0	21y	88	80y
HILLVIEW LODGE LIMITED→ NI025138 · est 1990	—	—	—	187	35y	87	76y
STRATHDEN LIMITED→ NI626346 · est 2014	—	—	—	200	11y	85	62y
ADREM INVESTMENTS LIMITED→ NI031681 · est 1996	—	—	—	0	29y	83	77y
AHOGHILL COMMUNITY PROPERTY DEVELOPMENT COMPANY LTD→ NI055105 · est 2005	—	—	—	400	21y	83	89y
ARDFOYLE TRUST→ NI016968 · est 1983	—	—	—	700	42y	83	87y
ARDILAUN LTD→ NI057602 · est 2005	—	—	—	400	20y	83	76y
ASHTREE INVESTMENTS LIMITED→ NI026837 · est 1992	—	—	—	300	33y	83	63y

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

Incorporated2004-05-19

Jurisdictionnorthern-ireland

Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

8 Springrowth House

Ballinska Road

Derry

BT48 0NA

Filing status

Accounts

Next due: 2026-02-28OVERDUE

Last made up to: 2024-05-31

Confirmation statement

Next due: 2026-06-02

Last: 2025-05-19

Officers (3 active · 3 resigned)

MCKEEVER, Martina→

secretary · appointed 2004-05-19

View their other companies + combined net worth →

Active

DURKAN, Patrick→

director · ~74y · appointed 2025-09-29

View their other companies + combined net worth →

Active

MC KEEVER, Martina→

director · ~53y · appointed 2015-10-12

View their other companies + combined net worth →

Active

C.S. SECRETARIAL SERVICES LTD→

corporate-secretary · appointed 2004-05-19 · resigned 2007-05-19

Resigned

MCKEEVER, Brian→

director · ~55y · appointed 2004-05-19 · resigned 2015-10-12

Resigned

CS DIRECTOR SERVICES LIMITED→

corporate-director · appointed 2004-05-19 · resigned 2004-05-19

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:2 of 2 shown

			Type	Properties
	outstanding	NatWest Group Ulster Bank Limited	Mortgage or charge	2 properties	27/01/2009	—
	outstanding	NatWest Group Ulster Bank Limited	Solicitors letter of undertaking	1 property	26/01/2005	—

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

Recent filings (61 total)

gazette-notice-compulsory

gazette · GAZ1

2026-04-28

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

officers · AP01

2025-10-09

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-06-11

accounts-with-accounts-type-micro-entity

accounts · AA

2025-02-19

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-06-04

accounts-with-accounts-type-micro-entity

accounts · AA

2024-02-29

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-07-04

accounts-with-accounts-type-micro-entity

accounts · AA

2023-05-18

confirmation-statement-with-no-updates

confirmation-statement · CS01

2022-07-13

accounts-with-accounts-type-micro-entity

accounts · AA

2022-02-23

gazette-filings-brought-up-to-date

gazette · DISS40

2021-08-04

gazette-notice-compulsory

gazette · GAZ1

2021-08-03

confirmation-statement-with-no-updates

confirmation-statement · CS01

2021-07-29

accounts-with-accounts-type-micro-entity

accounts · AA

2021-05-27

confirmation-statement-with-no-updates

confirmation-statement · CS01

2020-09-03