INVERNESS AIRPORT BUSINESS PARK LIMITED

🌳Matureactive

SC223801 · ltd · incorporated 2001-09-28

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 Mar 2025

Net worth

—

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: Development of building projects

Sector: Construction

Investor take

Pursue

Active trading company with a 73-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 73). 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

5 live charges · 5 lenders · oldest 18.8y

35/100

too messy

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

· Oldest live charge is 18.8 years old — likely at or near maturity.
· 5 lenders named — inter-creditor friction likely.
· Legal-friction score 30/100 — workable, but lender will want more DD.

Data confidence

Overall: high (84/100)

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

5 charges (5/5 with lender, 5/5 with type)

Directors & officers

26 officers (9 active, 26 linked, 19 with DOB)

Ownership & PSC

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

Director network

15 connected companies via shared directors

Filing history

143 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

80/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

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.

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	2025-03-31	2024-03-31
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

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

Last 180 days

filing

• 1 confirmation-statement

Counts from Companies House filing history.

Corporate timeline (69 events)Click to expand

2025-08-08
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-05
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-06
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-22
➕
GLEAVE, Alastair Sutherland appointed
director
2023-08-22
➕
ROUGH, John appointed
director
2023-08-22
➖
JOHNSTON, Lynda Mary resigned
director
2023-08-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-08-22
📄
appoint-person-director-company-with-name-date
officers · AP01
2023-08-22
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-07-21
📄
capital-allotment-shares
capital · SH01
2023-07-17
📄
termination-director-company-with-name-termination-date
officers · TM01
2023-06-30
➖
LYON, Inglis Edward resigned
director
2022-12-29
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-11-10
➕
GREEN, Michael Geddes appointed
director
2022-10-14
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-04
📄
appoint-person-director-company-with-name-date
officers · AP01
2022-07-04
📄
termination-director-company-with-name-termination-date
officers · TM01
2022-06-16
➕
ROBERTSON, Patricia Anne, Councillor appointed
director
2022-06-07
➖
CADDICK, Carolyn Ann, Maj (Retd) resigned
director
2022-02-23
📄
accounts-with-accounts-type-small
accounts · AA
2021-12-20
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2021-05-04
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2021-05-04
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2021-04-20
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2021-02-05
📄
accounts-with-accounts-type-small
accounts · AA
2018-02-06
🔒
Charge registered #5
Lender: Highlands and Islands Enterprise (The "Chargee")
2017-12-01
➕
CADDICK, Carolyn Ann, Maj (Retd) appointed
director
2017-05-04
➖
PRAG, Thomas Gregory resigned
director
2016-06-01
➕
CAMPBELL, James appointed
director
2015-06-29
➖
HASTINGS, David Robert resigned
director
2014-03-31
🔒
Charge registered #4
Lender: Highlands and Islands Enterprise
2013-03-01
➕
HASTINGS, David Robert appointed
director
2013-02-28
➖
PRICE, Alan Harvey resigned
director
2012-11-27
➕
PRAG, Thomas Gregory appointed
director
2012-09-28
🔓
Charge satisfied #2
2012-09-24
🔒
Charge registered #3
Lender: Bank of Scotland PLC
2012-02-29
➖
HENDERSON, David Munro resigned
director
2011-06-13
➕
JOHNSTON, Lynda Mary appointed
director
2011-04-14
➖
ARMSTRONG, Eric Thomas resigned
director
2009-01-06
🔓
Charge satisfied #1
2008-12-10
🔒
Charge registered #2
Lender: Clydesdale Bank PLC
2008-09-03
➕
HENDERSON, David Munro appointed
director
2008-06-11
➕
SCOTT, Iain John Gosman appointed
secretary
2008-06-11
➖
THORNTON, Jane resigned
secretary
2007-12-31
➖
RENNILSON, John Douglas resigned
director
2007-08-13
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
2006-05-16
➕
SCOTT, Iain John Gosman appointed
director
2006-05-05
➖
RAPSON, Freda Mae resigned
director
2005-05-16
➕
HOWARD, Andrew William appointed
director
2005-05-16
➕
STUART, John Douglas, Earl Of Moray appointed
director

Showing most recent 50 of 69 events

Owner dependency

65/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

-8 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 21 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 73 — succession pressure is live.

Succession & seller-readiness

80/100

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 73 years old. Natural succession window is now.
primary20+ year tenure: Director in role 21 years. Very long tenure is a classic succession signal.
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

2 corporate shareholders identified. Group structure is distributed.

🏛️

Moray Estates Developments Limited

Corporate parent · holds 25-50% shares

significant stake

🏛️

Highlands And Islands Airports Limited

Corporate parent · holds 25-50% shares

significant stake

⬇

INVERNESS AIRPORT BUSINESS PARK LIMITED

This company · SC223801

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

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Moray Estates Developments Limited Corporate entity	25–50%	50–75%	50-75% shares · 50-75% voting	09/11/2020
Highlands And Islands Airports Limited Corporate entity	25–50%	—	25-50% shares · firm interest	06/04/2016

1 historic (ceased) PSC

Moray Estates Properties Limitedceased 09/11/2020· 50-75% shares · firm interest

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 · Construction · IV postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
G & A BARNIE GROUP LIMITED→ SC265415 · est 2004	£5.89M £4.21M–£7.58M	—	—	426	22y	84	68y
G.F. JOB LIMITED→ SC135278 · est 1991	£5.10M £3.64M–£6.56M	—	—	65	34y	88	75y
HIGHLAND METALS LIMITED→ SC061436 · est 1976	£3.87M £2.77M–£4.98M	—	—	35	49y	88	71y
HIGHLAND DEEPHAVEN LIMITED→ SC050016 · est 1972	£1.97M £1.41M–£2.54M	—	—	4	54y	83	71y
CRANLOCH LIMITED→ SC237023 · est 2002	—	—	£10.4k	—	23y	83	68y
DARROCH & ALLAN (JOINERS & BUILDERS) LIMITED→ SC227618 · est 2002	—	—	£2.04M	—	24y	83	65y
ERG (SCOTLAND) LIMITED→ SC195590 · est 1999	—	—	—	—	27y	83	59y
HIGHLAND HEATING MANAGEMENT LIMITED→ SC296985 · est 2006	—	—	—	20	20y	83	58y
LEWISTON ARMS LIMITED→ SC319673 · est 2007	—	—	£32.6k	—	19y	83	73y
ST BUILDING SERVICES (FORRES) LIMITED→ SC358458 · est 2009	—	—	—	1000	17y	83	64y
A. DINGWALL LTD.→ SC250022 · est 2003	—	—	£21.0k	—	23y	82	66y
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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.

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Company details

Statusactive

Typeltd

Incorporated2001-09-28

Jurisdictionscotland

Primary SIC41100 — Development of building projects

Registered office

C/O Highlands & Islands Airports

Limited, Head Office

Inverness Airport, Inverness

IV2 7JB

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-01-16

Last: 2026-01-02