RUSSELL CONSTRUCTION MORAY LIMITED

🌳Matureactive

SC229082 · ltd · incorporated 2002-03-12

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

£2.50M

book net assets

Opportunity

75/100

Strong

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What this business does

Primary activity: Development of building projects

Sector: Construction

Investor take

Pursue

Active trading company. Family succession underway — not a classic acquisition target.

Opportunity 75/100 (strong), bankability 57/100. Same-surname younger director in place — likely family handover, not open to sale. Biggest value-creation lever: Consolidate lender relationships. 7 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: family or management succession (50/100).

🏦

Refinance opportunity

13 live charges · 7 lenders · oldest 24.1y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 24.1 years old — likely at or near maturity.
· 7 lenders named — inter-creditor friction likely.
· Legal-friction score 50/100 (high).

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

13 charges (13/13 with lender, 13/13 with type)

Directors & officers

10 officers (7 active, 10 linked, 7 with DOB)

Ownership & PSC

2 active PSC(s) of 5 total, 5 with control declared

Director network

3 connected companies via shared directors

Filing history

118 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

75/100Strong

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

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £2,500,619

Net assets shrinking

Down £28,165 YoY

Cash YoY

-10%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£599k

↓ 10% YoY

Net Worth

£2.5m

↓ 1.1% YoY

Current Assets

—

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-03-31	2024-03-31
Cash	£598.8k	£665.6k
Net assets	£2.50M	£2.53M

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

filings

• 2 persons-with-significant-control
• 1 confirmation-statement
• 1 officers

Last 180 days

filings

• 2 persons-with-significant-control
• 1 confirmation-statement
• 1 officers

Counts from Companies House filing history.

Corporate timeline (56 events)Click to expand

2026-04-23
📄
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-04-23
📄
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC02
2026-03-26
📄
replacement-filing-of-director-appointment-with-name
officers · RP01AP01
2025-10-15
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-person-director-company-with-change-date
officers · CH01
2025-10-07
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2025-10-07
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-12-12
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-10-17
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-10-17
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-10-17
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-10-17
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-10-17
🔓
Charge satisfied #8
2024-10-16
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-10-16
🔒
Charge registered #14
Lender: The Royal Bank of Scotland PLC
2024-10-16
🔒
Charge registered #13
Lender: The Royal Bank of Scotland PLC
2024-10-16
🔒
Charge registered #12
Lender: Royal Bank of Scotland PLC
2024-10-16
🔓
Charge satisfied #2
2024-10-08
📄
mortgage-satisfy-charge-full
mortgage · MR04
2024-10-08
🔓
Charge satisfied #1
2024-09-09
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2024-07-11
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-06-28
🔒
Charge registered #11
Lender: The Royal Bank of Scotland PLC
2024-06-04
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-04-01
➕
FARQUHAR, Ryan appointed
director
2024-04-01
➕
MCINNES, Stephen George appointed
director
2023-02-27
🔓
Charge satisfied #10
2023-02-27
🔓
Charge satisfied #9
2022-02-22
➕
FRASER, Tony Marcus appointed
director
2021-12-03
➕
FRASER, Nicola Jane appointed
director
2021-12-03
➕
RUSSELL, Carol Jane appointed
director
2021-12-03
➕
RUSSELL, Grant appointed
director
2021-12-03
➖
RUSSELL, Carol Jane resigned
secretary
2015-12-01
🔒
Charge registered #8
Lender: Bank of Scotland PLC
2015-11-30
🔒
Charge registered #10
Lender: Bank of Scotland PLC
2015-11-30
🔒
Charge registered #9
Lender: Bank of Scotland PLC
2012-05-17
🔓
Charge satisfied #4
2010-06-11
🔒
Charge registered #7
Lender: Roy Derek Ian Matheson & Another
2009-10-21
🔒
Charge registered #6
Lender: Roy Derek Ian Matheson & Another
2009-08-13
🔒
Charge registered #4
Lender: Roy Derek Ian Matheson and Another
2009-02-09
🔒
Charge registered #3
Lender: Robert John Hellyer and Another
2006-11-02
🔒
Charge registered #2
Lender: The Governor and Company of the Bank of Scotland
2002-04-15
🔒
Charge registered #1
Lender: The Governor and Company of the Bank of Scotland
2002-03-12
🏢
Company incorporated
As RUSSELL CONSTRUCTION MORAY LIMITED

Showing most recent 50 of 56 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

-7 active directors: Broader management team in place — suggests transferable governance.
+Founder name in company name: Company name contains director surname "RUSSELL" — strong identity link between founder and business.
+Long-tenure founder: Senior director has been in place 24 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 66 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

30/100

Weak signal

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

SIGNALS

primaryFamily succession underway: Not a takeover target — RUSSELL, Grant (same surname) appointed 2021-12-03. Pattern consistent with intra-family handover.
primaryFounder aged 63+: Senior director is approximately 66. Approaching typical UK retirement age — succession thinking likely.
primary20+ year tenure: Director in role 24 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 · 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.

7 live charges

low

Heavily leveraged with multiple live security positions — understand the capital structure before proceeding.

Group structure

2 corporate shareholders identified. Group structure is distributed.

🏛️

Llessur Limited

Corporate parent · holds 25-50% shares

significant stake

🏛️

Guerrini Limited

Corporate parent · holds 25-50% shares

significant stake

⬇

RUSSELL CONSTRUCTION MORAY LIMITED

This company · SC229082

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
Llessur Limited Corporate entity	25–50%	25–50%	25-50% shares · 25-50% voting	18/02/2026
Guerrini Limited Corporate entity	25–50%	25–50%	25-50% shares · 25-50% voting	03/12/2021

3 historic (ceased) PSCs

Mr Grant Russellceased 18/02/2026· 25-50% shares · 25-50% voting
Mrs Carol Jane Russellceased 03/12/2021· 25-50% shares
Mr Ivan William Russellceased 03/12/2021· 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

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Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
COMPASS BUILDING AND CONSTRUCTION SERVICES LTD→ SC355872 · est 2009	£8.17M £5.83M–£10.50M	—	—	128	17y	82	53y
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

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.

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Company details

Statusactive

Typeltd

Incorporated2002-03-12

Jurisdictionscotland

Primary SIC41100 — Development of building projects

Registered office

2 Coxton Park

Elgin

Moray

IV30 8AZ

Scotland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-05-02

Last: 2026-04-18