ROADS PROJECT

🌳Matureactive
SC263629 · private-limited-guarant-nsc-limited-exemption · incorporated 2004-02-18
Investment thesis
Looks cheap but ownership + security both unclear — probable value trap.
Why interesting: Headline metrics may be attractive.
Why risky: No PSC visibility combined with multiple live charges; transacting likely slow and expensive.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Feb 2025
Net worth
£302.2k
book net assets
Opportunity
82/100
Exceptional
🔔
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What this business does
Primary activity: Activities of other membership organisations n.e.c.
Sector: Other service activities
Investor take
Pursue
Active trading company with a 80-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 75/100. Strong seller-intent signal (63/100, director aged 80). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -79% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 18.4y

30/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 18.4 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Cashflow trend is negative — lender view likely cautious.

Data confidence

Overall: medium (71/100)

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
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
22 officers (4 active, 22 linked, 17 with DOB)
85
Ownership & PSC
No PSCs filed (unusual — worth investigating)
35
Director network
1 connected companies via shared directors
48
Filing history
97 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
82/100Exceptional
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102
Positive net assets
Net assets £302,173
Cash draining
Cash down 79% YoY
Cash YoY
-79%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£205
↓ 79% YoY
Net Worth
£302k
~ YoY
Current Assets
£205
↓ 82% YoY
Current Liabilities
—
£0£60k£121k£181k£242k£302kFeb 2024Feb 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-02-282024-02-28
Total assets£359.2k£360.3k
Current assets£205£1.2k
Cash£205£960
Net assets£302.2k£299.8k

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
1
filing
  • • 1 mortgage
Last 90 days
2
filings
  • • 1 mortgage
  • • 1 confirmation-statement
Last 180 days
3
filings
  • • 1 mortgage
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (59 events)Click to expand
  1. 2026-05-11
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  2. 2026-05-11
    🔓
    Charge satisfied #1
  3. 2025-11-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2024-11-18
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2023-11-24
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-08-04
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2021-09-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2020-11-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  9. 2019-10-03
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2018-11-02
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2017-11-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2017-03-01
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  13. 2017-03-01
    📄
    appoint-person-secretary-company-with-name-date
    officers · AP03
  14. 2017-03-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  15. 2017-03-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  16. 2017-03-01
    📄
    termination-secretary-company-with-name-termination-date
    officers · TM02
  17. 2016-12-16
    ➕
    BUCHAN, Anita Kareen appointed
    secretary
  18. 2016-12-16
    ➕
    BUCHAN, Anita Kareen appointed
    director
  19. 2016-12-16
    ➖
    SCOTT, Fraser resigned
    secretary
  20. 2016-12-16
    ➖
    SCOTT, Fraser resigned
    director
  21. 2016-12-16
    ➖
    WEST, Alexander resigned
    director
  22. 2016-11-30
    🔒
    Charge registered #2
    Lender: Bank of Scotland PLC
  23. 2012-04-01
    ➖
    GIBB, James Jack resigned
    director
  24. 2012-04-01
    ➕
    WEST, Alexander appointed
    director
  25. 2011-10-23
    ➖
    MCROBERTS, Colin Matthew resigned
    director
  26. 2010-04-01
    ➖
    WALKER, Rhoda Elizabeth resigned
    director
  27. 2010-03-01
    ➕
    MCROBERTS, Colin Matthew appointed
    director
  28. 2009-07-14
    ➖
    CHATFIELD, Alison resigned
    director
  29. 2009-07-14
    ➖
    GORDON, Alan resigned
    director
  30. 2009-07-14
    ➖
    GORDON, Elizabeth resigned
    director
  31. 2009-07-14
    ➖
    STEPHEN, Eileen resigned
    director
  32. 2009-07-14
    ➖
    STEPHEN, Martin resigned
    director
  33. 2009-05-06
    ➕
    NICOL, Forbes West, Rev appointed
    director
  34. 2009-05-06
    ➖
    NICOL, Audrey resigned
    secretary
  35. 2009-05-06
    ➕
    SCOTT, Fraser appointed
    secretary
  36. 2009-05-06
    ➕
    GIBB, James Jack appointed
    director
  37. 2009-05-06
    ➕
    SCOTT, Fraser appointed
    director
  38. 2009-03-01
    ➖
    NICOL, Audrey resigned
    director
  39. 2008-07-23
    ➕
    BUCHAN, John Livingston, Dr appointed
    director
  40. 2008-07-23
    ➖
    BRUCE, Stephen resigned
    director
  41. 2008-07-23
    ➕
    STEPHEN, Eileen appointed
    director
  42. 2008-07-23
    ➕
    STEPHEN, Martin appointed
    director
  43. 2008-07-09
    ➖
    BRUCE, Joan resigned
    director
  44. 2008-03-01
    ➕
    WALKER, Rhoda Elizabeth appointed
    director
  45. 2008-03-01
    ➖
    WHEELER, May resigned
    director
  46. 2008-01-04
    🔒
    Charge registered #1
    Lender: The Big Lottery Fund
  47. 2004-02-18
    🏢
    Company incorporated
    As ROADS PROJECT
  48. 2004-02-18
    ➕
    NICOL, Audrey appointed
    secretary
  49. 2004-02-18
    ➕
    BRIAN REID LTD. appointed
    corporate-nominee-secretary
  50. 2004-02-18
    ➖
    BRIAN REID LTD. resigned
    corporate-nominee-secretary
Showing most recent 50 of 59 events

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
  • +Long-tenure founder: Senior director has been in place 18 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 80 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

83/100
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 80 years old. Natural succession window is now.
  • secondary12+ year tenure: Director in role 18 years.
  • secondaryStable-but-static management: Company is 22 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

clean
No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)
🔒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

7 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
Typeprivate-limited-guarant-nsc-limited-exemption
Incorporated2004-02-18
Jurisdictionscotland
Primary SIC94990 — Activities of other membership organisations n.e.c.

Registered office

C/O 2 Shore Street
Cairnbulg
Fraserburgh
Aberdeenshire
AB43 8YL
Scotland

Filing status

Accounts
Next due: 2026-11-30
Last made up to: 2025-02-28
Confirmation statement
Next due: 2027-03-04
Last: 2026-02-18

Officers (4 active · 18 resigned)

BUCHAN, Anita Kareen→
secretary · appointed 2016-12-16
View their other companies + combined net worth →
Active
BUCHAN, Anita Kareen→
director · ~45y · appointed 2016-12-16
View their other companies + combined net worth →
Active
BUCHAN, John Livingston, Dr→
director · ~80y · appointed 2008-07-23
View their other companies + combined net worth →
Active
NICOL, Forbes West, Rev→
director · ~67y · appointed 2009-05-06
View their other companies + combined net worth →
Active
NICOL, Audrey→
secretary · appointed 2004-02-18 · resigned 2009-05-06
Resigned
SCOTT, Fraser→
secretary · appointed 2009-05-06 · resigned 2016-12-16
Resigned
BRIAN REID LTD.→
corporate-nominee-secretary · appointed 2004-02-18 · resigned 2004-02-18
Resigned
BRUCE, Joan→
director · ~59y · appointed 2004-02-18 · resigned 2008-07-09
Resigned
BRUCE, Stephen→
director · ~59y · appointed 2004-02-18 · resigned 2008-07-23
Resigned
CHATFIELD, Alison→
director · ~61y · appointed 2004-02-18 · resigned 2009-07-14
Resigned
GIBB, James Jack→
director · ~79y · appointed 2009-05-06 · resigned 2012-04-01
Resigned
GORDON, Alan→
director · ~64y · appointed 2004-02-18 · resigned 2009-07-14
Resigned
GORDON, Elizabeth→
director · ~64y · appointed 2004-02-18 · resigned 2009-07-14
Resigned
MCROBERTS, Colin Matthew→
director · ~69y · appointed 2010-03-01 · resigned 2011-10-23
Resigned
NICOL, Audrey→
director · ~64y · appointed 2004-02-18 · resigned 2009-03-01
Resigned
SCOTT, Fraser→
director · ~44y · appointed 2009-05-06 · resigned 2016-12-16
Resigned
STEPHEN, Eileen→
director · ~80y · appointed 2008-07-23 · resigned 2009-07-14
Resigned
STEPHEN, Martin→
director · ~81y · appointed 2008-07-23 · resigned 2009-07-14
Resigned
WALKER, Rhoda Elizabeth→
director · ~65y · appointed 2008-03-01 · resigned 2010-04-01
Resigned
WEST, Alexander→
director · ~47y · appointed 2012-04-01 · resigned 2016-12-16
Resigned

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

Mortgages & charges

2
Total charges
1
Outstanding
1
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
Lloyds Banking Group
Bank of Scotland PLC
A registered charge1 property30/11/2016—
satisfied
The Big Lottery Fund
Standard security1 property04/01/200811/05/2026
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (97 total)

mortgage-satisfy-charge-full
mortgage · MR04
2026-05-11
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-03-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-11-27
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-02-25
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-11-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-02-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-11-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-02-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-08-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-02-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-09-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-03-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-11-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-02-20
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-10-03