BELVOIR LETTINGS (MORAY) LTD

🌳Matureactive

SC302163 · ltd · incorporated 2006-05-10

Investment thesis

Property vehicle with a workable charge structure — clean refinance potential.

Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.

Why risky: Dependent on title and valuation due diligence; standard property risks.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 10.9y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to May 2025

Net worth

£124.4k

book net assets

Opportunity

82/100

Exceptional

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What this business does

Primary activity: Management of real estate on a fee or contract basis

Sector: Real estate

Investor take

Pursue

Property-backed borrower with a 67-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 80/100. Strong seller-intent signal (83/100, director aged 67). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 10.9y

85/100

ready

Refinance conversation should be productive — structure clean and timing right.

· Oldest live charge is 10.9 years old — likely at or near maturity.
· Single lender — cleanest path to refinance.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: medium (79/100)

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

Lenders & charges

1 charges (1/1 with lender, 1/1 with type)

Directors & officers

3 officers (2 active, 3 linked, 2 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

1 connected companies via shared directors

Filing history

48 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →

Opportunity Score

82/100Exceptional

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.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Positive net assets

Net assets £124,370

Cash YoY

-13%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£242k

↓ 13% YoY

Net Worth

£124k

↑ 18% YoY

Current Assets

£430k

↓ 8.2% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-05-31	2024-05-31
Total assets	£214.5k	£203.3k
Current assets	£430.0k	£468.5k
Cash	£242.2k	£279.5k
Debtors	£187.8k	£189.0k
Net assets	£124.4k	£105.8k

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

filings

Last 90 days

filings

Last 180 days

filings

Counts from Companies House filing history.

Corporate timeline (22 events)Click to expand

2025-09-16
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-18
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-02-23
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-03-02
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-02-24
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-02-19
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-12-20
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-02-08
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-02-23
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2016-11-23
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2016-05-11
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2016-05-11
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2016-05-11
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2016-02-02
📄
accounts-with-accounts-type-total-exemption-small
accounts · AA
2015-06-16
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2015-06-08
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
2015-05-15
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2014-01-31
➕
CAMPBELL, Linda Grant appointed
director
2013-05-31
➖
ASSETS resigned
corporate-secretary
2006-05-10
🏢
Company incorporated
As BELVOIR LETTINGS (MORAY) LTD
2006-05-10
➕
CAMPBELL, Andrew appointed
director
2006-05-10
➕
ASSETS appointed
corporate-secretary

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 20 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 67 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

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 67. 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 20 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 20 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.)

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Mr Andrew Campbell Individual · British · DOB 10/1960 · age 66	75–100%	—	75-100% shares	01/07/2016

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.

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Similar companies

Active · Property · IV postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
BLAVEN LIMITED→ SC160238 · est 1995	£1.94M £1.65M–£2.24M	—	£1.94M	—	30y	83	73y
FAIRFIELD PROPERTIES (INVERNESS) LTD.→ SC244714 · est 2003	£217.0k £184.5k–£249.6k	—	£217.0k	—	23y	82	75y
NORTHLANDS PROPERTIES LIMITED→ SC195787 · est 1999	£214.5k £182.3k–£246.6k	—	£214.5k	—	27y	83	59y
CRUACHAN FLATS LIMITED→ SC242899 · est 2003	£148.1k £125.9k–£170.3k	—	£148.1k	—	23y	82	77y
CAMERON HARRIS LTD.→ SC241344 · est 2002	£93.0k £79.0k–£106.9k	—	£93.0k	—	23y	82	78y
EDINBANE ESTATE WIND FARM LIMITED→ SC166590 · est 1996	£41.1k £34.9k–£47.2k	—	£41.1k	—	29y	83	77y
A & M CULBERTSON LIMITED→ SC392515 · est 2011	£6.5k £5.6k–£7.5k	—	£6.5k	—	15y	82	71y
DINGWALL AUCTION MART LIMITED→ SC135799 · est 1991	—	—	—	0	34y	83	81y
H.D. (INVERNESS) LIMITED→ SC036502 · est 1961 · no financials extracted	—	—	—	—	64y	83	88y
RESTENNETH PROPERTIES LIMITED→ SC055768 · est 1974 · no financials extracted	—	—	—	—	51y	83	81y
YORK HOUSE (KENSINGTON) LIMITED→ SC056410 · est 1974	—	—	—	400	51y	83	82y
DENMUIR PROPERTIES LIMITED→ SC205358 · est 2000	—	—	—	200	26y	82	76y

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.

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Company details

Statusactive

Typeltd

Incorporated2006-05-10

Jurisdictionscotland

Primary SIC68320 — Management of real estate on a fee or contract basis

Registered office

4 North Guildry Street

Elgin

Morayshire

IV30 1JR

Scotland

Filing status

Accounts

Next due: 2027-02-28

Last made up to: 2025-05-31

Confirmation statement

Next due: 2026-05-24

Last: 2025-05-10

Officers (2 active · 1 resigned)

CAMPBELL, Andrew→

director · ~66y · appointed 2006-05-10

View their other companies + combined net worth →

Active

CAMPBELL, Linda Grant→

director · ~67y · appointed 2014-01-31

View their other companies + combined net worth →

Active

ASSETS→

corporate-secretary · appointed 2006-05-10 · resigned 2013-05-31

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:1 of 1 shown

			Type	Properties
	outstanding	Lloyds Banking Group The Royal Bank of Scotland PLC	A registered charge	—	08/06/2015	—

Click column headers to sort. Use filters above to narrow by status and lender.