NORDHUS DEVELOPMENTS (SHETLAND) LIMITED
🌳Matureactive
SC207333 · ltd · incorporated 2000-05-19
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.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
Opportunity decay
approaching window · 12-months
Approaching a transaction window — refinance or sale event plausible in the next 12 months.
- · Oldest live charge 24.7y old — refinance window within 12 months
What changed my view
Last 30 days
No material changes in the last 30 days.
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 Dec 2024
Net worth
£324.2k
book net assets
Opportunity
75/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueStrong opportunity: asset-holding vehicle with strong profile and bankable structure.
Opportunity 75/100 (strong), bankability 85/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (58/100).
🏦
Refinance opportunity
1 live charge · oldest 24.7y
85/100
ready
Refinance conversation should be productive — structure clean and timing right.
- · Oldest live charge is 24.7 years old — likely at or near maturity.
- · Single lender — cleanest path to refinance.
- · Legal-friction score 23/100 — clean.
Data confidence
Overall: medium (72/100)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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
1 charges (1/1 with lender, 1/1 with type)
90
Directors & officers
9 officers (2 active, 9 linked, 6 with DOB)
83
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
1 connected companies via shared directors
48
Filing history
88 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒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
75/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
55
Some acquirability indicators.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · accounting standard not declaredPositive net assets
Net assets £324,169
Key financials
1 year extracted from filed iXBRL accountsCash
£54k
Net Worth
£324k
Current Assets
£64k
Current Liabilities
—
Financials
Extracted from Companies House accounts · accounting standard unknown| Metric | 2024-12-31 |
|---|---|
| Total assets | £324.2k |
| Current assets | £64.0k |
| Cash | £54.0k |
| Debtors | £9.9k |
| Net assets | £324.2k |
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
1
filing
- • 1 confirmation-statement
Last 90 days
1
filing
- • 1 confirmation-statement
Last 180 days
1
filing
- • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (37 events)Click to expand
- 2025-04-25📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-11-07📄mortgage-satisfy-charge-fullmortgage · MR04
- 2024-11-07🔓Charge satisfied #1
- 2024-10-28📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC02
- 2024-10-28📍change-registered-office-address-company-with-date-old-address-new-addressaddress · AD01
- 2024-10-28📄change-account-reference-date-company-current-shortenedaccounts · AA01
- 2024-10-28📄termination-secretary-company-with-name-termination-dateofficers · TM02
- 2024-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-10-28📄termination-director-company-with-name-termination-dateofficers · TM01
- 2024-10-28📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-10-28📄appoint-person-director-company-with-name-dateofficers · AP01
- 2024-10-28📄withdrawal-of-a-person-with-significant-control-statementpersons-with-significant-control · PSC09
- 2024-10-25➕IRVINE, Bryden William appointeddirector
- 2024-10-25➕IRVINE, Inga Jasmine appointeddirector
- 2024-10-25➖RISK, Robert Neil resignedsecretary
- 2024-10-25➖BARDELL, Peter resigneddirector
- 2024-10-25➖LECKIE, Samuel Cummings resigneddirector
- 2024-10-25➖RISK, Robert Neil resigneddirector
- 2024-09-19📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-01-18📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2023-05-30📄termination-director-company-with-name-termination-dateofficers · TM01
- 2023-01-04📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2022-12-17➖FULLER, Mark resigneddirector
- 2022-01-13📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2020-11-19📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2001-10-26🔒Charge registered #1Lender: The Royal Bank of Scotland PLC
- 2001-08-29➕FULLER, Mark appointeddirector
- 2001-06-01➕RISK, Robert Neil appointeddirector
- 2000-12-13➕LECKIE, Samuel Cummings appointeddirector
- 2000-09-06➕RISK, Robert Neil appointedsecretary
- 2000-09-06➖FIRST SCOTTISH SECRETARIES LIMITED resignedcorporate-nominee-secretary
- 2000-09-06➕BARDELL, Peter appointeddirector
- 2000-09-06➖FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED resignedcorporate-nominee-director
- 2000-05-19🏢Company incorporatedAs NORDHUS DEVELOPMENTS (SHETLAND) LIMITED
- 2000-05-19➕FIRST SCOTTISH SECRETARIES LIMITED appointedcorporate-nominee-secretary
- 2000-05-19➕FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED appointedcorporate-nominee-director
Owner dependency
66/100
High — earn-out structure requiredMaterial 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.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
36/100
Weak signalLimited succession signal. Not a near-term off-market candidate.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
cleanNo red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
Group structure
Westside Holdings Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Westside Holdings Limited
Corporate parent · holds 75-100% shares · board control
⬇
NORDHUS DEVELOPMENTS (SHETLAND) LIMITED
This company · SC207333
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Westside Holdings Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 25/10/2024 |
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 · ZE postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| MARK DUNCAN DEVELOPMENTS LIMITED→ SC318791 · est 2007 | £710.9k £604.3k–£817.6k | — | £710.9k | — | 19y | 77 | 54y |
| LEAGARTH ESTATES LIMITED→ SC032734 · est 1957 | £555.6k £472.3k–£639.0k | — | £555.6k | — | 68y | 81 | 71y |
| ENERGY ISLES LIMITED→ SC466337 · est 2013 | £478.0k £406.3k–£549.7k | — | £478.0k | — | 12y | 75 | 71y |
| SHETLAND FREEZER HOLDINGS LIMITED→ SC141526 · est 1992 | £246.6k £209.6k–£283.6k | — | £246.6k | — | 33y | 82 | 72y |
| EID DEVELOPMENTS LTD.→ SC274955 · est 2004 | £59.0k £50.1k–£67.8k | — | £59.0k | — | 21y | 80 | 64y |
| M.I.A. (PROPERTIES) LIMITED→ SC233583 · est 2002 | £51.0k £43.4k–£58.7k | — | £51.0k | — | 23y | 82 | 69y |
| G & E PROPERTIES (SHETLAND) LTD→ SC642636 · est 2019 | £21.7k £18.4k–£24.9k | — | £21.7k | — | 6y | 79 | 59y |
| NORTHERN ROCK PROPERTIES LIMITED→ SC526769 · est 2016 | £7.6k £6.4k–£8.7k | — | £7.6k | — | 10y | 78 | 58y |
| NORTH YELL DEVELOPMENT COUNCIL→ SC245227 · est 2003 · no financials extracted | — | — | — | — | 23y | 83 | 75y |
| IRVINE ENTERPRISES SHETLAND LIMITED→ SC136867 · est 1992 | — | — | — | 500 | 34y | 82 | 64y |
| DTM PROPERTY LETTING SERVICES LIMITED→ SC362655 · est 2009 | — | — | — | 0 | 16y | 80 | 66y |
| GLOBE BUTCHERS→ SC245569 · est 2003 | — | — | — | 100 | 23y | 80 | 60y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
6 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
Incorporated2000-05-19
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
Nyrhus Effirth
Bixter
Shetland
ZE2 9LY
Scotland
Filing status
Accounts
Next due: 2026-09-30
Last made up to: 2024-12-31
Confirmation statement
Next due: 2027-06-02
Last: 2026-05-19
Officers (2 active · 7 resigned)
IRVINE, Bryden William→
Activedirector · ~54y · appointed 2024-10-25
View their other companies + combined net worth →
IRVINE, Inga Jasmine→
Activedirector · ~49y · appointed 2024-10-25
View their other companies + combined net worth →
RISK, Robert Neil→
Resignedsecretary · appointed 2000-09-06 · resigned 2024-10-25
FIRST SCOTTISH SECRETARIES LIMITED→
Resignedcorporate-nominee-secretary · appointed 2000-05-19 · resigned 2000-09-06
BARDELL, Peter→
Resigneddirector · ~73y · appointed 2000-09-06 · resigned 2024-10-25
FULLER, Mark→
Resigneddirector · ~62y · appointed 2001-08-29 · resigned 2022-12-17
LECKIE, Samuel Cummings→
Resigneddirector · ~73y · appointed 2000-12-13 · resigned 2024-10-25
RISK, Robert Neil→
Resigneddirector · ~68y · appointed 2001-06-01 · resigned 2024-10-25
FIRST SCOTTISH INTERNATIONAL SERVICES LIMITED→
Resignedcorporate-nominee-director · appointed 2000-05-19 · resigned 2000-09-06
Click a director name to see their full track record across all companies.
Mortgages & charges
1
Total charges
0
Outstanding
0
Active lenders
Status:Lender:1 of 1 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Lloyds Banking Group The Royal Bank of Scotland PLC | Standard security | 1 property | 26/10/2001 | 07/11/2024 |
Recent filings (88 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-05-26
confirmation-statement-with-updates
confirmation-statement · CS01
2025-05-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-04-25
mortgage-satisfy-charge-full
mortgage · MR04
2024-11-07
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2024-10-28
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-10-28
change-account-reference-date-company-current-shortened
accounts · AA01
2024-10-28
termination-secretary-company-with-name-termination-date
officers · TM02
2024-10-28
termination-director-company-with-name-termination-date
officers · TM01
2024-10-28
termination-director-company-with-name-termination-date
officers · TM01
2024-10-28
termination-director-company-with-name-termination-date
officers · TM01
2024-10-28
appoint-person-director-company-with-name-date
officers · AP01
2024-10-28
appoint-person-director-company-with-name-date
officers · AP01
2024-10-28
withdrawal-of-a-person-with-significant-control-statement
persons-with-significant-control · PSC09
2024-10-28
accounts-with-accounts-type-micro-entity
accounts · AA
2024-09-19