ICM DEVELOPMENTS LIMITED

🌳Matureactive
SC332169 · ltd · incorporated 2007-10-10
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 Oct 2025
Net worth
£515.5k
book net assets
Opportunity
83/100
Exceptional
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What this business does
Primary activity: Development of building projects
Sector: Construction
Investor take
Pursue
Active trading company with a 68-year-old founder — textbook succession opportunity.

Opportunity 83/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 68). 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

3 live charges · 3 lenders · oldest 18.0y

35/100
too messy

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

  • · Oldest live charge is 18.0 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 35/100 — workable, but lender will want more DD.

Data confidence

Overall: high (81/100)

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
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
9 officers (5 active, 9 linked, 6 with DOB)
83
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
7 connected companies via shared directors
66
Filing history
61 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
83/100Exceptional
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
85
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 · accounting standard not declared
Positive net assets
Net assets £515,475
Cash YoY
+376%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£279k
↑ 376% YoY
Net Worth
£515k
↑ 30% YoY
Current Assets
£460k
↑ 63% YoY
Current Liabilities
—
£0£103k£206k£309k£412k£515kOct 2024Oct 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-10-312024-10-31
Total assets£516.1k£647.7k
Current assets£459.8k£281.8k
Cash£279.1k£58.6k
Debtors£30.1k£20.3k
Net assets£515.5k£397.1k

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
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (32 events)Click to expand
  1. 2026-03-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-07-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-07-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2023-07-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  5. 2022-07-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2022-02-03
    📄
    change-person-director-company-with-change-date
    officers · CH01
  7. 2022-02-03
    📄
    change-person-director-company-with-change-date
    officers · CH01
  8. 2022-02-03
    📄
    change-person-secretary-company-with-change-date
    officers · CH03
  9. 2021-05-05
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2020-07-08
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2019-07-31
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2018-07-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  13. 2017-07-28
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  14. 2016-07-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  15. 2015-11-04
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  16. 2012-10-31
    ➖
    MONK, Paul resigned
    director
  17. 2011-08-16
    ➖
    ELLIOT, Stephen resigned
    director
  18. 2008-04-29
    🔒
    Charge registered #3
    Lender: Iain Carruthers Construction Limited
  19. 2008-04-29
    🔒
    Charge registered #2
    Lender: M & S Engineering Limited
  20. 2008-04-29
    🔒
    Charge registered #1
    Lender: Derek Carruthers Construction Limited
  21. 2007-11-26
    ➕
    ELLIOT, Stephen appointed
    director
  22. 2007-11-13
    ➕
    CARRUTHERS, Iain James appointed
    director
  23. 2007-11-13
    ➕
    MONK, Colin appointed
    director
  24. 2007-11-13
    ➕
    MONK, Paul appointed
    director
  25. 2007-10-11
    ➕
    MONK, Stephen appointed
    secretary
  26. 2007-10-11
    ➕
    CARRUTHERS, Derek appointed
    director
  27. 2007-10-11
    ➕
    MONK, Stephen appointed
    director
  28. 2007-10-11
    ➖
    HARRISON, Irene Lesley resigned
    secretary
  29. 2007-10-11
    ➖
    BUSINESS INFORMATION RESEARCH & REPORTING LTD resigned
    corporate-director
  30. 2007-10-10
    🏢
    Company incorporated
    As ICM DEVELOPMENTS LIMITED
  31. 2007-10-10
    ➕
    HARRISON, Irene Lesley appointed
    secretary
  32. 2007-10-10
    ➕
    BUSINESS INFORMATION RESEARCH & REPORTING LTD appointed
    corporate-director

Owner dependency

73/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • -4 active directors: Broader management team in place — suggests transferable governance.
  • +Long-tenure founder: Senior director has been in place 19 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 68 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

73/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • primaryFounder aged 63+: Senior director is approximately 68. Approaching typical UK retirement age — succession thinking likely.
  • secondary12+ year tenure: Director in role 19 years.
  • secondaryStable-but-static management: Company is 19 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
NameSharesVoting rightsNature of controlNotified
Mr Iain James Carruthers
Individual · British · DOB 09/1958 · age 68
25–50%
25–50%25-50% shares · 25-50% voting06/04/2016

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
Incorporated2007-10-10
Jurisdictionscotland
Primary SIC41100 — Development of building projects

Registered office

Stanfield Farm
Eastriggs
Annan
DG12 6TF

Filing status

Accounts
Next due: 2027-07-31
Last made up to: 2025-10-31
Confirmation statement
Next due: 2026-10-24
Last: 2025-10-10

Officers (5 active · 4 resigned)

MONK, Stephen→
secretary · appointed 2007-10-11
View their other companies + combined net worth →
Active
CARRUTHERS, Derek→
director · ~61y · appointed 2007-10-11
View their other companies + combined net worth →
Active
CARRUTHERS, Iain James→
director · ~68y · appointed 2007-11-13
View their other companies + combined net worth →
Active
MONK, Colin→
director · ~57y · appointed 2007-11-13
View their other companies + combined net worth →
Active
MONK, Stephen→
director · ~49y · appointed 2007-10-11
View their other companies + combined net worth →
Active
HARRISON, Irene Lesley→
secretary · appointed 2007-10-10 · resigned 2007-10-11
Resigned
ELLIOT, Stephen→
director · ~70y · appointed 2007-11-26 · resigned 2011-08-16
Resigned
MONK, Paul→
director · ~55y · appointed 2007-11-13 · resigned 2012-10-31
Resigned
BUSINESS INFORMATION RESEARCH & REPORTING LTD→
corporate-director · appointed 2007-10-10 · resigned 2007-10-11
Resigned

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

Mortgages & charges

3
Total charges
3
Outstanding
3
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
outstanding
Iain Carruthers Construction
Iain Carruthers Construction Limited
Standard security1 property29/04/2008—
outstanding
M & S Engineering
M & S Engineering Limited
Standard security1 property29/04/2008—
outstanding
Derek Carruthers Construction
Derek Carruthers Construction Limited
Standard security1 property29/04/2008—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (61 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-03-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-10
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-07-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-07-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-28
confirmation-statement-with-updates
confirmation-statement · CS01
2022-10-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-07-28
change-person-director-company-with-change-date
officers · CH01
2022-02-03
change-person-director-company-with-change-date
officers · CH01
2022-02-03
change-person-secretary-company-with-change-date
officers · CH03
2022-02-03
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-22
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-05-05
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-26