DSW PROPERTIES LIMITED

🌳Matureactive
SC222441 · ltd · incorporated 2001-08-22
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 Aug 2024
Net worth
—
book net assets
Opportunity
75/100
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 70-year-old founder — textbook succession opportunity.

Opportunity 75/100 (strong), bankability 57/100. Strong seller-intent signal (83/100, director aged 70). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

19 live charges · 5 lenders · oldest 24.7y

35/100
too messy

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

  • · Oldest live charge is 24.7 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 40/100 — 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
19 charges (19/19 with lender, 19/19 with type)
90
Directors & officers
6 officers (3 active, 6 linked, 4 with DOB)
83
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
5 connected companies via shared directors
60
Filing history
93 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
74
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£0Aug 2023Aug 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-08-312023-08-31
Average employees00

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

🔒Filing-note intelligence

2 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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (54 events)Click to expand
  1. 2025-09-03
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  2. 2025-09-03
    📄
    notification-of-a-person-with-significant-control
    persons-with-significant-control · PSC01
  3. 2025-05-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2024-04-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2023-04-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-04-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-05-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-03-22
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  9. 2021-03-11
    🔒
    Charge registered #19
    Lender: Hsbc UK Bank PLC
  10. 2021-03-09
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  11. 2021-03-01
    🔒
    Charge registered #18
    Lender: Hsbc UK Bank PLC
  12. 2021-02-25
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2021-02-25
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  14. 2021-02-25
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2021-02-25
    🔓
    Charge satisfied #5
  16. 2021-02-25
    🔓
    Charge satisfied #2
  17. 2021-02-25
    🔓
    Charge satisfied #1
  18. 2020-05-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  19. 2019-04-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  20. 2018-05-17
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  21. 2014-06-11
    🔓
    Charge satisfied #10
  22. 2014-06-11
    🔓
    Charge satisfied #8
  23. 2014-06-11
    🔓
    Charge satisfied #7
  24. 2014-06-11
    🔓
    Charge satisfied #6
  25. 2014-06-11
    🔓
    Charge satisfied #4
  26. 2014-05-28
    🔓
    Charge satisfied #3
  27. 2014-05-27
    🔒
    Charge registered #17
    Lender: Hsbc Bank PLC
  28. 2014-05-27
    🔒
    Charge registered #16
    Lender: Hsbc Bank PLC
  29. 2014-05-27
    🔒
    Charge registered #15
    Lender: Hsbc Bank PLC
  30. 2014-05-27
    🔒
    Charge registered #14
    Lender: Hsbc Bank PLC
  31. 2014-05-27
    🔒
    Charge registered #13
    Lender: Hsbc Bank PLC
  32. 2014-05-27
    🔒
    Charge registered #12
    Lender: Hsbc Bank PLC
  33. 2014-05-20
    🔒
    Charge registered #11
    Lender: Hsbc Bank PLC
  34. 2011-10-12
    🔓
    Charge satisfied #9
  35. 2008-06-11
    🔒
    Charge registered #10
    Lender: Clydesdale Bank PLC
  36. 2007-07-27
    🔒
    Charge registered #9
    Lender: Clydesdale Bank Public Limited Company
  37. 2005-09-12
    🔒
    Charge registered #8
    Lender: Clydesdale Bank Public Limited Company
  38. 2005-09-12
    🔒
    Charge registered #7
    Lender: Clydesdale Bank Public Limited Company
  39. 2005-07-05
    🔒
    Charge registered #6
    Lender: Clydesdale Bank Public Limited Company
  40. 2004-08-25
    🔒
    Charge registered #5
    Lender: The Royal Bank of Scotland PLC
  41. 2003-03-25
    🔒
    Charge registered #4
    Lender: Clydesdale Bank Public Limited Company
  42. 2003-02-17
    🔒
    Charge registered #3
    Lender: Clydesdale Bank Public Limited Company
  43. 2001-11-07
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  44. 2001-08-30
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  45. 2001-08-22
    🏢
    Company incorporated
    As DSW PROPERTIES LIMITED
  46. 2001-08-22
    ➕
    WILLIS, Shirley Ann appointed
    secretary
  47. 2001-08-22
    ➕
    WILLIS, Shirley Ann appointed
    director
  48. 2001-08-22
    ➕
    WILLIS, Thomas David appointed
    director
  49. 2001-08-22
    ➕
    KANE, Dorothy May appointed
    secretary
  50. 2001-08-22
    ➖
    KANE, Dorothy May resigned
    secretary
Showing most recent 50 of 54 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 25 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 70 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

96/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 70 years old. Natural succession window is now.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 25 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 25 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 · 1 low
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.

9 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 Thomas David Willis
Individual · British · DOB 10/1956 · age 70
25–50%
25–50%25-50% shares · 25-50% voting01/08/2016
Mrs Shirley Ann Willis
Individual · British · DOB 04/1961 · age 65
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

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 →

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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
Incorporated2001-08-22
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate

Registered office

Dalblair House
46 Dalblair Road
Ayr
KA7 1UQ

Filing status

Accounts
Next due: 2026-05-31
Last made up to: 2024-08-31
Confirmation statement
Next due: 2026-09-18
Last: 2025-09-04

Officers (3 active · 3 resigned)

WILLIS, Shirley Ann→
secretary · appointed 2001-08-22
View their other companies + combined net worth →
Active
WILLIS, Shirley Ann→
director · ~65y · appointed 2001-08-22
View their other companies + combined net worth →
Active
WILLIS, Thomas David→
director · ~70y · appointed 2001-08-22
View their other companies + combined net worth →
Active
KANE, Dorothy May→
secretary · appointed 2001-08-22 · resigned 2001-08-22
Resigned
HARRISON, Malcolm Joseph→
director · ~52y · appointed 2001-08-22 · resigned 2001-08-22
Resigned
KANE, Dorothy May→
director · ~90y · appointed 2001-08-22 · resigned 2001-08-22
Resigned

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

Mortgages & charges

19
Total charges
9
Outstanding
1
Active lenders
Status:Lender:19 of 19 shown
TypeProperties
outstanding
HSBC
Hsbc UK Bank PLC
A registered charge1 property11/03/2021—
outstanding
HSBC
Hsbc UK Bank PLC
A registered charge—01/03/2021—
outstanding
HSBC
Hsbc Bank PLC
A registered charge1 property27/05/2014—
outstanding
HSBC
Hsbc Bank PLC
A registered charge1 property27/05/2014—
outstanding
HSBC
Hsbc Bank PLC
A registered charge1 property27/05/2014—
outstanding
HSBC
Hsbc Bank PLC
A registered charge1 property27/05/2014—
outstanding
HSBC
Hsbc Bank PLC
A registered charge—27/05/2014—
outstanding
HSBC
Hsbc Bank PLC
A registered charge—27/05/2014—
outstanding
HSBC
Hsbc Bank PLC
A registered charge—20/05/2014—
satisfied
Virgin Money
Clydesdale Bank PLC
Standard security1 property11/06/200811/06/2014
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security1 property27/07/200712/10/2011
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security2 properties12/09/200511/06/2014
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security1 property12/09/200511/06/2014
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security2 properties05/07/200511/06/2014
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property25/08/200425/02/2021
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security1 property25/03/200311/06/2014
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Floating charge1 property17/02/200328/05/2014
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property07/11/200125/02/2021
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property30/08/200125/02/2021
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (93 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-04
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-09-03
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2025-09-03
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-02
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-02
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-04-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-11
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-04-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-09-12
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-04-12
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-26
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-03-22
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2021-03-09
mortgage-satisfy-charge-full
mortgage · MR04
2021-02-25