MILNBANK LIMITED

🌳Matureactive
SC257927 · ltd · incorporated 2003-10-21
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.
Why now
Window steady · low confidence
Stable recent picture — watch for any upcoming trigger event.
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 Mar 2025
Net worth
—
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: Development of building projects
Sector: Construction
Investor take
Pursue
Active trading company with a 65-year-old founder — textbook succession opportunity.

Opportunity 79/100 (strong), bankability 67/100. Strong seller-intent signal (83/100, director aged 65). 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: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

10 live charges · 3 lenders · oldest 22.6y

35/100
too messy

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

  • · Oldest live charge is 22.6 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 40/100 — workable, but lender will want more DD.

Data confidence

Overall: high (82/100)

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
10 charges (10/10 with lender, 10/10 with type)
90
Directors & officers
5 officers (3 active, 5 linked, 3 with DOB)
82
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
83 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
77
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£0Mar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31
Average employees16001600

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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (43 events)Click to expand
  1. 2025-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2023-10-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2022-12-22
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-07-15
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  6. 2022-05-20
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  7. 2022-05-19
    🔒
    Charge registered #10
    Lender: Bank of Scotland PLC
  8. 2022-01-25
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2021-11-04
    📄
    change-person-director-company-with-change-date
    officers · CH01
  10. 2021-11-04
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  11. 2021-04-21
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2021-02-04
    📄
    second-filing-of-confirmation-statement-with-made-up-date
    confirmation-statement · RP04CS01
  13. 2020-01-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2019-10-17
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2019-10-17
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  16. 2019-10-17
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  17. 2019-10-17
    🔓
    Charge satisfied #7
  18. 2019-10-17
    🔓
    Charge satisfied #6
  19. 2019-10-17
    🔓
    Charge satisfied #5
  20. 2019-10-15
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  21. 2019-10-07
    🔒
    Charge registered #9
    Lender: Bank of Scotland PLC
  22. 2019-10-02
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  23. 2019-09-26
    🔒
    Charge registered #8
    Lender: Bank of Scotland PLC
  24. 2019-01-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  25. 2012-05-03
    ➖
    OGILVIE, Graham Robert resigned
    director
  26. 2010-12-30
    🔓
    Charge satisfied #4
  27. 2010-12-30
    🔓
    Charge satisfied #3
  28. 2010-12-30
    🔓
    Charge satisfied #2
  29. 2010-12-09
    🔒
    Charge registered #7
    Lender: Santander UK PLC
  30. 2010-12-09
    🔒
    Charge registered #6
    Lender: Santander UK PLC
  31. 2010-12-06
    🔓
    Charge satisfied #1
  32. 2010-11-26
    🔒
    Charge registered #5
    Lender: Santander UK PLC
  33. 2010-10-15
    ➕
    OGILVIE, Graham Robert appointed
    director
  34. 2004-04-21
    🔒
    Charge registered #4
    Lender: The Royal Bank of Scotland PLC
  35. 2004-04-21
    🔒
    Charge registered #3
    Lender: The Royal Bank of Scotland PLC
  36. 2004-04-21
    🔒
    Charge registered #2
    Lender: The Royal Bank of Scotland PLC
  37. 2003-12-04
    🔒
    Charge registered #1
    Lender: The Royal Bank of Scotland PLC
  38. 2003-10-21
    🏢
    Company incorporated
    As MILNBANK LIMITED
  39. 2003-10-21
    ➕
    BANKS, Anthony Roiall appointed
    secretary
  40. 2003-10-21
    ➕
    BANKS, Anthony Roiall appointed
    director
  41. 2003-10-21
    ➕
    MILNE, William James appointed
    director
  42. 2003-10-21
    ➕
    OSWALDS OF EDINBURGH LIMITED appointed
    corporate-nominee-secretary
  43. 2003-10-21
    ➖
    OSWALDS OF EDINBURGH LIMITED resigned
    corporate-nominee-secretary

Owner dependency

83/100
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 23 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 65 — succession pressure is live.

Succession & seller-readiness

86/100
Likely off-market candidate

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

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 65. Approaching typical UK retirement age — succession thinking likely.
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
  • primary20+ year tenure: Director in role 23 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 23 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 ·
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
NameSharesVoting rightsNature of controlNotified
Mr William Milne
Individual · British · DOB 06/1961 · age 65
25–50%
25–50%board control25-50% shares · 25-50% voting · board control06/04/2016
Mr Anthony Roiall Banks
Individual · British · DOB 10/1961 · age 65
25–50%
25–50%board control25-50% shares · 25-50% voting · board control06/04/2016

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
Incorporated2003-10-21
Jurisdictionscotland
Primary SIC41100 — Development of building projects

Registered office

Unit 5 Station Place
Forfar
Angus
DD8 3TB

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-09-23
Last: 2025-09-09

Officers (3 active · 2 resigned)

BANKS, Anthony Roiall→
secretary · appointed 2003-10-21
View their other companies + combined net worth →
Active
BANKS, Anthony Roiall→
director · ~65y · appointed 2003-10-21
View their other companies + combined net worth →
Active
MILNE, William James→
director · ~65y · appointed 2003-10-21
View their other companies + combined net worth →
Active
OSWALDS OF EDINBURGH LIMITED→
corporate-nominee-secretary · appointed 2003-10-21 · resigned 2003-10-21
Resigned
OGILVIE, Graham Robert→
director · ~54y · appointed 2010-10-15 · resigned 2012-05-03
Resigned

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

Mortgages & charges

10
Total charges
3
Outstanding
1
Active lenders
Status:Lender:10 of 10 shown
TypeProperties
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge1 property19/05/2022—
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge1 property07/10/2019—
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge—26/09/2019—
satisfied
Santander
Santander UK PLC
Standard security1 property09/12/201017/10/2019
satisfied
Santander
Santander UK PLC
Standard security1 property09/12/201017/10/2019
satisfied
Santander
Santander UK PLC
Floating charge1 property26/11/201017/10/2019
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property21/04/200430/12/2010
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property21/04/200430/12/2010
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Standard security1 property21/04/200430/12/2010
satisfied
Lloyds Banking Group
The Royal Bank of Scotland PLC
Bond & floating charge1 property04/12/200306/12/2010
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (83 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-11-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-10-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-21
change-account-reference-date-company-previous-shortened
accounts · AA01
2022-07-15
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-05-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-01-25
change-person-director-company-with-change-date
officers · CH01
2021-11-04
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2021-11-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-04-21