FARNELL ESTATES LIMITED
🌳Matureactive
SC309462 · ltd · incorporated 2006-10-02
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
75/100
Strong
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueStrong opportunity: property-backed borrower with strong profile and acceptable with review structure.
Opportunity 75/100 (strong), bankability 57/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 4 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: strategic trade sale (63/100).
🏦
Refinance opportunity
7 live charges · 4 lenders · oldest 19.5y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 19.5 years old — likely at or near maturity.
- · 4 lenders named — inter-creditor friction likely.
- · Legal-friction score 35/100 — workable, but lender will want more DD.
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
75
Lenders & charges
7 charges (7/7 with lender, 7/7 with type)
90
Directors & officers
6 officers (3 active, 6 linked, 3 with DOB)
80
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
74 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
65
Some acquirability indicators.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
2 years extracted from filed iXBRL accountsCash
—
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 | 200 | 200 |
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
3
filings
- • 3 persons-with-significant-control
Last 90 days
3
filings
- • 3 persons-with-significant-control
Last 180 days
4
filings
- • 3 persons-with-significant-control
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (36 events)Click to expand
- 2026-04-14📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2026-04-13📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2026-04-13📄notification-of-a-person-with-significant-controlpersons-with-significant-control · PSC01
- 2025-12-08📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2024-12-09📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2023-12-14📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-12-20📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-12-09📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-03-10📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-12-04📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2019-09-27📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2019-09-27📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2018-12-07📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-12-21📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2017-01-24📄mortgage-alter-charge-with-charge-number-charge-creation-datemortgage · MR07
- 2017-01-18📄mortgage-alter-charge-with-charge-number-charge-creation-datemortgage · MR07
- 2016-12-14🔓Charge satisfied #3
- 2016-12-07🔒Charge registered #7Lender: Bank of Scotland PLC
- 2016-12-05🔒Charge registered #6Lender: Bank of Scotland PLC
- 2010-04-16➖FRAME, William resigneddirector
- 2008-01-17🔒Charge registered #5Lender: Dundee Historic Environment Trust
- 2007-12-24🔒Charge registered #4Lender: Clydesdale Bank Public Limited Company
- 2007-12-24🔓Charge satisfied #2
- 2007-12-19🔓Charge satisfied #1
- 2007-12-13🔒Charge registered #3Lender: Clydesdale Bank Public Limited Company
- 2006-11-17🔒Charge registered #2Lender: The Governor and Company of the Bank of Scotland
- 2006-11-02🔒Charge registered #1Lender: The Governor and Company of the Bank of Scotland
- 2006-10-11➕ADAMS, Jane appointedsecretary
- 2006-10-11➕ADAMS, Jane appointeddirector
- 2006-10-11➕MCKELVEY, Ruaridh appointeddirector
- 2006-10-11➖OSWALDS OF EDINBURGH LIMITED resignedcorporate-nominee-secretary
- 2006-10-11➕FRAME, William appointeddirector
- 2006-10-11➖JORDANS (SCOTLAND) LIMITED resignedcorporate-nominee-director
- 2006-10-02🏢Company incorporatedAs FARNELL ESTATES LIMITED
- 2006-10-02➕OSWALDS OF EDINBURGH LIMITED appointedcorporate-nominee-secretary
- 2006-10-02➕JORDANS (SCOTLAND) LIMITED appointedcorporate-nominee-director
Owner dependency
68/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
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.
Succession & seller-readiness
59/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- secondary12+ year tenure: Director in role 20 years.
- 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
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Dr Ruaridh John Mckelvey Individual · British · DOB 04/1972 · age 54 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 13/04/2026 |
Ms Jane Adams Individual · British · DOB 06/1972 · age 54 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 01/10/2016 |
1 historic (ceased) PSC
- Dr Ruaridh John Mckelveyceased 13/04/2026· 25-50% shares · 25-50% voting · board control
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 · Property · DD postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| DISCOVERY DWELLINGS LTD→ SC855000 · est 2025 · no financials extracted | — | — | — | — | — | — | — |
| EARLY BIRDS PROPERTIES LTD→ SC780448 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| EAST OF SCOTLAND COLOUR PRINT LIMITED→ SC343575 · est 2008 · no financials extracted | — | — | — | — | 17y | — | — |
| EDM PROPERTY MANAGEMENT LTD→ SC752444 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| ELABOR LIMITED→ SC555871 · est 2017 · no financials extracted | — | — | — | — | 9y | — | — |
| EXTEND ESTATES LIMITED→ SC212020 · est 2000 · no financials extracted | — | — | — | — | 25y | — | — |
| F.P.D PROPERTIES LIMITED→ SC491544 · est 2014 · no financials extracted | — | — | — | — | 11y | — | — |
| F&M PROPERTY (DUNDEE) LTD→ SC467979 · est 2014 · no financials extracted | — | — | — | — | 12y | — | — |
| FARINGTON HOUSE PROPERTIES LTD.→ SC231149 · est 2002 · no financials extracted | — | — | — | — | 23y | — | — |
| FASQUE CASTLE LIMITED→ SC569888 · est 2017 · no financials extracted | — | — | — | — | 8y | — | — |
| FIELDSTREAM LIMITED→ SC169444 · est 1996 · no financials extracted | — | — | — | — | 29y | — | — |
| FINE NEST PROPERTY MANAGEMENT LTD→ SC722248 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
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
Typeltd
Incorporated2006-10-02
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
36 South Tay Street
Dundee
Tayside
DD1 1PD
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-10-01
Last: 2025-09-17
Officers (3 active · 3 resigned)
Active
Active
MCKELVEY, Ruaridh→
Activedirector · ~54y · appointed 2006-10-11
View their other companies + combined net worth →
OSWALDS OF EDINBURGH LIMITED→
Resignedcorporate-nominee-secretary · appointed 2006-10-02 · resigned 2006-10-11
FRAME, William→
Resigneddirector · ~68y · appointed 2006-10-11 · resigned 2010-04-16
JORDANS (SCOTLAND) LIMITED→
Resignedcorporate-nominee-director · appointed 2006-10-02 · resigned 2006-10-11
Click a director name to see their full track record across all companies.
Mortgages & charges
7
Total charges
4
Outstanding
3
Active lenders
Status:Lender:7 of 7 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Lloyds Banking Group Bank of Scotland PLC | A registered charge | 1 property | 07/12/2016 | — | |
| outstanding | Lloyds Banking Group Bank of Scotland PLC | A registered charge | — | 05/12/2016 | — | |
| outstanding | Dundee Historic Environment Trust | Standard security | 1 property | 17/01/2008 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 24/12/2007 | — | |
| satisfied | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 13/12/2007 | 14/12/2016 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Standard security | 2 properties | 17/11/2006 | 24/12/2007 | |
| satisfied | Lloyds Banking Group The Governor and Company of the Bank of Scotland | Floating charge | 1 property | 02/11/2006 | 19/12/2007 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (74 total)
cessation-of-a-person-with-significant-control
persons-with-significant-control · PSC07
2026-04-14
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-04-13
notification-of-a-person-with-significant-control
persons-with-significant-control · PSC01
2026-04-13
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-12-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-12-14
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-12-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-09-24
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-03-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-01