DAVID RITCHIE (IMPLEMENTS) LIMITED

🌳Matureactive

SC029454 · ltd · incorporated 1953-05-16

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

Why now

Window steady · medium confidence

Mixed signals — 1 changes over 30 days, no clear direction yet.

· Refinance opportunity: too_messy → clean_up_first

What changed my view

Last 30 days

Mixed signals in the last 30 days — 0 improved, 0 worsened.

·Refinance opportunity: too_messy → clean_up_first

Last 90 days

No snapshot from 90 days ago — start tracking from today.

Last 180 days

No snapshot from 180 days ago — start tracking from today.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to May 2025

Net worth

—

book net assets

Opportunity

79/100

Strong

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What this business does

Primary activity: SIC 25990

Sector: Manufacturing

Investor take

Pursue

Leverage-led grower. Family succession underway — not a classic acquisition target.

Opportunity 79/100 (strong), bankability 67/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: strategic trade sale (78/100).

🏦

Refinance opportunity

9 live charges · 3 lenders · oldest 52.0y

45/100

clean up first

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

· Oldest live charge is 52.0 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 30/100 — workable, but lender will want more DD.
· Profitable and stable/growing — lender coverage supportable.

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

Lenders & charges

9 charges (9/9 with lender, 9/9 with type)

Directors & officers

17 officers (5 active, 17 linked, 14 with DOB)

Ownership & PSC

2 active PSC(s) of 3 total, 3 with control declared

Director network

4 connected companies via shared directors

Filing history

163 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 £206,049

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	2025-05-31	2023-05-31
Profit before tax	£206.0k	—
Average employees	123	—

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

🔒Filing-note intelligence

3 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

filing

• 1 accounts

Last 180 days

filings

• 2 persons-with-significant-control
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (57 events)Click to expand

2026-05-29
📄
accounts-with-accounts-type-group
accounts · AA
2026-01-26
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-01-26
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-05-30
📄
accounts-with-accounts-type-group
accounts · AA
2025-03-17
➕
RITCHIE, Steven Robert appointed
director
2025-03-17
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-10-18
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2024-10-18
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2024-03-04
📄
accounts-with-accounts-type-group
accounts · AA
2023-02-27
📄
accounts-with-accounts-type-group
accounts · AA
2023-01-16
📄
change-person-director-company-with-change-date
officers · CH01
2022-02-25
📄
accounts-with-accounts-type-group
accounts · AA
2021-07-28
➕
BLAIR, Stewart appointed
secretary
2021-07-28
➖
RITCHIE, David resigned
secretary
2021-07-28
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2021-07-28
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2021-05-25
📄
accounts-with-accounts-type-group
accounts · AA
2020-04-23
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2020-04-17
🔒
Charge registered #9
Lender: Handelsbanken PLC
2020-02-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2020-02-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2020-02-21
📄
mortgage-satisfy-charge-full
mortgage · MR04
2020-02-21
🔓
Charge satisfied #5
2020-02-21
🔓
Charge satisfied #4
2020-02-21
🔓
Charge satisfied #3
2020-02-05
🔓
Charge satisfied #6
2019-12-16
🔒
Charge registered #8
Lender: Handelsbanken PLC
2019-02-12
🔒
Charge registered #7
Lender: Handelsbanken PLC
2019-01-11
➖
ROY, Charles resigned
director
2016-04-26
➖
WALKER, Anthony John resigned
director
2016-04-01
➕
EDWARDS, Andrew Raymond, Dr appointed
director
2015-10-02
➖
YOUNG, Stuart Keir resigned
director
2015-08-11
🔒
Charge registered #6
Lender: Hsbc Bank PLC
2015-05-08
🔒
Charge registered #5
Lender: Hsbc Bank PLC
2015-02-16
➖
KELLETT, Anthony Gerard resigned
director
2012-08-24
🔒
Charge registered #4
Lender: Hsbc Bank PLC
2012-07-21
🔓
Charge satisfied #2
2012-07-02
🔒
Charge registered #3
Lender: Hsbc Bank PLC
2010-12-01
➖
BROOKE, Richard Anderson resigned
director
2010-12-01
➕
KELLETT, Anthony Gerard appointed
director
2010-06-01
➕
YOUNG, Stuart Keir appointed
director
2008-06-24
➕
RITCHIE, David appointed
director
2008-06-20
➖
MACASKILL, John Geoffrey resigned
director
2006-06-01
➕
BROOKE, Richard Anderson appointed
director
2006-05-31
➖
WATT, James Robert resigned
director
2005-04-07
➕
MACASKILL, John Geoffrey appointed
director
2005-04-05
➖
MAXWELL, William resigned
director
2004-05-03
➕
MAXWELL, William appointed
director
2004-04-30
➖
RITCHIE, David resigned
director
1999-03-12
🔒
Charge registered #2
Lender: The Royal Bank of Scotland PLC

Showing most recent 50 of 57 events

Owner dependency

88/100

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

-4 active directors: Broader management team in place — suggests transferable governance.
+Founder name in company name: Company name contains director surname "RITCHIE" — strong identity link between founder and business.
+Long-tenure founder: Senior director has been in place 18 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 71 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

33/100

Weak signal

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

SIGNALS

primaryFamily succession underway: Not a takeover target — RITCHIE, Steven Robert (same surname) appointed 2025-03-17. Pattern consistent with intra-family handover.
primaryFounder aged 70+: Senior director is approximately 71 years old. Natural succession window is now.
secondary12+ year tenure: Director in role 18 years.
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.

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Steven Robert Ritchie Individual · British · DOB 01/1985 · age 41	25–50%	25–50%	25-50% shares · 25-50% voting	30/09/2024
Mr David Ritchie Individual · British · DOB 05/1955 · age 71	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016

1 historic (ceased) PSC

Mr Robert Ritchieceased 30/09/2024· 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 →

Similar companies

Active · Manufacturing · DD postcode area

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D. GEDDES (CONTRACTORS) LIMITED→ SC060200 · est 1976	£16.59M £12.91M–£20.28M	—	—	11900	50y	85	90y
ABERDEEN JOURNALS LIMITED→ SC015256 · est 1928	£12.91M £10.04M–£15.77M	—	—	143	97y	85	76y
SCOTT & FYFE LIMITED→ SC017244 · est 1933	£9.33M £7.26M–£11.41M	£21.01M	—	9400	93y	87	62y
HALLEY STEVENSONS LTD→ SC211231 · est 2000	£8.37M £6.51M–£10.23M	£10.37M	—	5200	25y	83	73y
JOINERY AND TIMBER CREATIONS (65) LIMITED→ SC099154 · est 1986	£6.03M £4.69M–£7.37M	£27.56M	—	23000	40y	82	64y
PACSON LIMITED→ SC114098 · est 1988	£3.62M £2.81M–£4.42M	—	—	85	37y	85	59y
HUTCHISON TECHNOLOGIES LIMITED→ SC176095 · est 1997	£1.92M £1.49M–£2.35M	£15.44M	—	12200	29y	89	57y
ROSSMAR TEXTILES LIMITED→ SC125791 · est 1990	£1.44M £1.12M–£1.76M	—	—	2	36y	82	73y
CAMVAC ROCKWELL LIMITED→ SC177774 · est 1997	£1.19M £927.2k–£1.46M	—	—	71	28y	84	60y
METALTECH UK LIMITED→ SC334096 · est 2007	—	—	£345.4k	—	18y	83	62y
MONTROSE ROPE & SAIL COMPANY LIMITED→ SC246159 · est 2003	—	—	—	21	23y	83	64y
OBAN SCALLOP GEAR LIMITED→ SC352798 · est 2008	—	—	—	700	17y	83	85y

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

Incorporated1953-05-16

Jurisdictionscotland

Primary SIC25990 — SIC 25990

Registered office

Carseview Road

Suttieside

Forfar

Angus

DD8 3BT

Filing status

Accounts

Next due: 2027-02-28

Last made up to: 2025-05-31

Confirmation statement

Next due: 2026-11-01

Last: 2025-10-18

Officers (5 active · 12 resigned)

BLAIR, Stewart→

secretary · appointed 2021-07-28

View their other companies + combined net worth →

Active

EDWARDS, Andrew Raymond, Dr→

director · ~53y · appointed 2016-04-01

View their other companies + combined net worth →

Active

RITCHIE, David→

director · ~71y · appointed 2008-06-24

View their other companies + combined net worth →

Active

RITCHIE, Robert→

director · ~71y

View their other companies + combined net worth →

Active

RITCHIE, Steven Robert→

director · ~41y · appointed 2025-03-17

View their other companies + combined net worth →

Active

RITCHIE, David→

secretary · appointed 1996-09-23 · resigned 2021-07-28

Resigned

SMITH, William George Kerr→

secretary · resigned 1996-09-23

Resigned

BROOKE, Richard Anderson→

director · ~69y · appointed 2006-06-01 · resigned 2010-12-01

Resigned

KELLETT, Anthony Gerard→

director · ~74y · appointed 2010-12-01 · resigned 2015-02-16

Resigned

MACASKILL, John Geoffrey→

director · ~59y · appointed 2005-04-07 · resigned 2008-06-20

Resigned

MAXWELL, William→

director · ~76y · appointed 2004-05-03 · resigned 2005-04-05

Resigned

RITCHIE, David→

director · ~71y · resigned 2004-04-30

Resigned

RITCHIE, George Scott→

director · ~107y · resigned 1996-02-10

Resigned

ROY, Charles→

director · ~72y · appointed 1997-07-14 · resigned 2019-01-11

Resigned

WALKER, Anthony John→

director · ~80y · resigned 2016-04-26

Resigned

WATT, James Robert→

director · ~86y · resigned 2006-05-31

Resigned

YOUNG, Stuart Keir→

director · ~64y · appointed 2010-06-01 · resigned 2015-10-02

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:9 of 9 shown

		Type	Properties
outstanding	Handelsbanken Handelsbanken PLC	A registered charge	1 property	17/04/2020	—
outstanding	Handelsbanken Handelsbanken PLC	A registered charge	1 property	16/12/2019	—
outstanding	Handelsbanken Handelsbanken PLC	A registered charge	—	12/02/2019	—
satisfied	HSBC Hsbc Bank PLC	A registered charge	1 property	11/08/2015	05/02/2020
satisfied	HSBC Hsbc Bank PLC	A registered charge	1 property	08/05/2015	21/02/2020
satisfied	HSBC Hsbc Bank PLC	Standard security	1 property	24/08/2012	21/02/2020
satisfied	HSBC Hsbc Bank PLC	Floating charge	1 property	02/07/2012	21/02/2020
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Bond & floating charge	1 property	12/03/1999	21/07/2012
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Bond & floating charge	1 property	10/07/1974	11/02/1998

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

Recent filings (163 total)

accounts-with-accounts-type-group

accounts · AA

2026-05-29

change-to-a-person-with-significant-control

persons-with-significant-control · PSC04

2026-01-26

change-to-a-person-with-significant-control

persons-with-significant-control · PSC04

2026-01-26

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-10-30

accounts-with-accounts-type-group

accounts · AA

2025-05-30

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

officers · AP01

2025-03-17

confirmation-statement-with-updates

confirmation-statement · CS01

2024-10-18

cessation-of-a-person-with-significant-control

persons-with-significant-control · PSC07

2024-10-18

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

persons-with-significant-control · PSC01

2024-10-18

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-10-03

accounts-with-accounts-type-group

accounts · AA

2024-03-04

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-10-06

accounts-with-accounts-type-group

accounts · AA

2023-02-27

change-person-director-company-with-change-date

officers · CH01

2023-01-16

confirmation-statement-with-no-updates

confirmation-statement · CS01

2022-10-04