EAST LOTHIAN DEVELOPMENTS LIMITED
🌳Matureactive
SC435221 · ltd · incorporated 2012-10-22
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
62/100
Worth a look
What this business does
Primary activity: Development of building projects
Sector: Construction
Investor take
Pass (distressed without resilience)Distressed active trading company — structural issues outweigh the discount.
Opportunity 62/100 (worth a look), bankability 57/100. Asset purchase likely safer than share purchase given structural signals. Biggest value-creation lever: Consolidate lender relationships. 8 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (50/100).
🏦
Refinance opportunity
14 live charges · 8 lenders · oldest 12.5y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 12.5 years old — likely at or near maturity.
- · 8 lenders named — inter-creditor friction likely.
- · Legal-friction score 40/100 — workable, but lender will want more DD.
Data confidence
Overall: medium (76/100)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
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
14 charges (14/14 with lender, 14/14 with type)
90
Directors & officers
8 officers (3 active, 8 linked, 6 with DOB)
85
Ownership & PSC
1 active PSC(s) of 2 total, 2 with control declared
90
Director network
18 connected companies via shared directors
90
Filing history
125 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
62/100Worth a look
PassWatchWorth a lookStrongExceptional
Mixed signal. Worth opening the full target workup before deciding to pursue.
Business quality
60
Adequate — check latest filings for context.
Acquirability
50
Some acquirability indicators.
Risk profile
56
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.
Key financials
1 year extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2025-03-31 |
|---|---|
| Average employees | 200 |
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
0
filings
Last 90 days
0
filings
Last 180 days
1
filing
- • 1 accounts
Counts from Companies House filing history.
Corporate timeline (54 events)Click to expand
- 2025-12-15📄accounts-with-accounts-type-smallaccounts · AA
- 2025-08-07📄change-account-reference-date-company-previous-shortenedaccounts · AA01
- 2025-03-31📄capital-variation-of-rights-attached-to-sharescapital · SH10
- 2025-03-28📄accounts-with-accounts-type-smallaccounts · AA
- 2025-03-26📄memorandum-articlesincorporation · MA
- 2025-03-25📄capital-statement-capital-company-with-date-currency-figurecapital · SH19
- 2025-03-25📄legacycapital · SH20
- 2025-03-25⚠️legacyinsolvency · CAP-SS
- 2025-03-25📄resolutionresolution · RESOLUTIONS
- 2025-03-24📄capital-allotment-sharescapital · SH01
- 2024-03-15📄accounts-with-accounts-type-smallaccounts · AA
- 2023-03-21📄accounts-with-accounts-type-smallaccounts · AA
- 2022-10-30📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC05
- 2022-10-30📄change-corporate-secretary-company-with-change-dateofficers · CH04
- 2022-04-01📄accounts-with-accounts-type-smallaccounts · AA
- 2022-03-29📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-03-29📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-03-29📄mortgage-satisfy-charge-fullmortgage · MR04
- 2022-03-29🔓Charge satisfied #6
- 2022-03-29🔓Charge satisfied #5
- 2022-03-29🔓Charge satisfied #3
- 2021-11-02📄change-person-director-company-with-change-dateofficers · CH01
- 2021-11-02📄change-person-director-company-with-change-dateofficers · CH01
- 2021-10-05➕HIGHLAND AND UNIVERSAL SECURITIES LIMITED appointedcorporate-secretary
- 2021-10-05➖DM COMPANY SERVICES LIMITED resignedcorporate-secretary
- 2021-09-17➖QUINN, Martin Joseph resigneddirector
- 2021-09-01➖AITKEN, James resigneddirector
- 2020-08-05➕MACKENZIE, Scott Grant appointeddirector
- 2020-08-05➖MACFIE, Andrew James resigneddirector
- 2019-12-31🔒Charge registered #14Lender: Persimmon Homes Limited
- 2019-12-31🔒Charge registered #13Lender: Highland and Universal Securities Limited
- 2019-08-03🔒Charge registered #12Lender: Highland and Universal Securities Limited
- 2019-07-20🔒Charge registered #11Lender: Highland and Universal Securities Limited
- 2019-07-19🔓Charge satisfied #9
- 2019-07-19🔓Charge satisfied #8
- 2019-07-17🔒Charge registered #10Lender: Highland and Universal Securities Limited
- 2018-06-01🔒Charge registered #9Lender: East Lodge Capital Credit Opportunities (Luxembourg) S.A.R.L, Acting on Behalf of Its Compartment 4
- 2018-05-24🔒Charge registered #8Lender: East Lodge Capital Credit Opportunities (Luxembourg) S.A.R.L., Acting on Behalf of Its Compartment 4
- 2017-06-12🔒Charge registered #7Lender: Persimmon Homes Limited
- 2016-06-27🔒Charge registered #6Lender: Alexander Inglis and Son Limited as Security Trustee
- 2016-06-27🔒Charge registered #5Lender: Alexander Inglis and Son Limited as Security Trustee
- 2015-05-21🔓Charge satisfied #1
- 2014-12-10🔒Charge registered #4Lender: Highland and Universal Securities Limited as Security Agent
- 2013-11-29➕CUSITER, Calum Geoffrey appointeddirector
- 2013-11-29➕MACFIE, Andrew James appointeddirector
- 2013-11-29➕QUINN, Martin Joseph appointeddirector
- 2013-11-29🔒Charge registered #3Lender: Alexander Inglis and Son Limited
- 2013-11-29🔒Charge registered #2Lender: Highland and Universal Securities Limited
- 2013-10-21🔒Charge registered #1Lender: Blair Carnegie Nimmo in His Capacity as Trustee on the Sequestrated Estate of Malcolm James Scott
- 2013-05-02➕AITKEN, James appointeddirector
Showing most recent 50 of 54 events
Owner dependency
58/100
Moderate — manageable with handoverSome founder dependency, but not acute. A structured handover period should cover most risk.
FACTORS
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
Succession & seller-readiness
49/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- secondary12+ year tenure: Director in role 12 years.
- supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.
Red flags
1 high · 1 med · 1 low1 insolvency-related filing on record
highFilings relating to insolvency, liquidation, or administration exist in the company's history. Review before proceeding.
Evidence: 2025-03-25: legacy
Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
8 live charges
lowHeavily leveraged with multiple live security positions — understand the capital structure before proceeding.
Group structure
Highland And Universal Securities Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
🏛️ultimate parent
Highland And Universal Securities Limited
Corporate parent · holds 75-100% shares · board control
⬇
EAST LOTHIAN DEVELOPMENTS LIMITED
This company · SC435221
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Highland And Universal Securities Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
1 historic (ceased) PSC
- Alexander Inglis And Son Limitedceased 17/09/2021· 25-50% shares
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 · Construction · EH postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| EDINBURGH’S FIRST RESPONSE ROOFING LTD→ SC707690 · est 2021 · no financials extracted | — | — | — | — | 4y | — | — |
| EDISTON LIONS LIMITED→ SC546446 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| EIDYN CONTRACTS LTD→ SC728287 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
| ELCH DBFM HOLDCO LIMITED→ SC535590 · est 2016 · no financials extracted | — | — | — | — | 9y | — | — |
| ELECTRICAL CERTIFICATE SOLUTIONS LTD→ SC840140 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| ELFORMA DEVELOPMENTS LIMITED→ SC585884 · est 2018 · no financials extracted | — | — | — | — | 8y | — | — |
| ELTRAX LTD→ SC785355 · est 2023 · no financials extracted | — | — | — | — | 2y | — | — |
| EMAIN ENERGY LTD→ SC756222 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| EMB ABLE SOLUTIONS LTD→ SC878973 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| EMBERVAULT GLOBAL LTD→ SC876785 · est 2026 · no financials extracted | — | — | — | — | — | — | — |
| EMERALD DECORATORS LTD→ SC623745 · est 2019 · no financials extracted | — | — | — | — | 7y | — | — |
| EMERGE SOLUTIONS LTD→ SC836326 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
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
Incorporated2012-10-22
Jurisdictionscotland
Primary SIC41100 — Development of building projects
Registered office
Fourth Floor
68-70 George Street
Edinburgh
Midlothian
EH2 2LR
Scotland
Filing status
Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-11-05
Last: 2025-10-22
Officers (3 active · 5 resigned)
HIGHLAND AND UNIVERSAL SECURITIES LIMITED→
Activecorporate-secretary · appointed 2021-10-05
View their other companies + combined net worth →
CUSITER, Calum Geoffrey→
Activedirector · ~46y · appointed 2013-11-29
View their other companies + combined net worth →
MACKENZIE, Scott Grant→
Activedirector · ~37y · appointed 2020-08-05
View their other companies + combined net worth →
DM COMPANY SERVICES LIMITED→
Resignedcorporate-secretary · appointed 2012-10-22 · resigned 2021-10-05
AITKEN, James→
Resigneddirector · ~79y · appointed 2013-05-02 · resigned 2021-09-01
GILCHRIST, Ewan Caldwell→
Resigneddirector · ~57y · appointed 2012-10-22 · resigned 2013-05-02
MACFIE, Andrew James→
Resigneddirector · ~70y · appointed 2013-11-29 · resigned 2020-08-05
QUINN, Martin Joseph→
Resigneddirector · ~58y · appointed 2013-11-29 · resigned 2021-09-17
Click a director name to see their full track record across all companies.
Mortgages & charges
14
Total charges
8
Outstanding
3
Active lenders
Status:Lender:14 of 14 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Persimmon Homes Persimmon Homes Limited | A registered charge | 2 properties | 31/12/2019 | — | |
| outstanding | Highland and Universal Securities Highland and Universal Securities Limited | A registered charge | 1 property | 31/12/2019 | — | |
| outstanding | Highland and Universal Securities Highland and Universal Securities Limited | A registered charge | 1 property | 03/08/2019 | — | |
| outstanding | Highland and Universal Securities Highland and Universal Securities Limited | A registered charge | 1 property | 20/07/2019 | — | |
| outstanding | Highland and Universal Securities Highland and Universal Securities Limited | A registered charge | 1 property | 17/07/2019 | — | |
| satisfied | East Lodge Capital Credit Opportunities (Luxembourg) S.A.R.L, Acting on Behalf of Its Compartment 4 | A registered charge | 1 property | 01/06/2018 | 19/07/2019 | |
| satisfied | East Lodge Capital Credit Opportunities (Luxembourg) S.A.R.L., Acting on Behalf of Its Compartment 4 | A registered charge | — | 24/05/2018 | 19/07/2019 | |
| outstanding | Persimmon Homes Persimmon Homes Limited | A registered charge | 1 property | 12/06/2017 | — | |
| satisfied | Alexander Inglis and Son as Security Trustee Alexander Inglis and Son Limited as Security Trustee | A registered charge | 1 property | 27/06/2016 | 29/03/2022 | |
| satisfied | Alexander Inglis and Son as Security Trustee Alexander Inglis and Son Limited as Security Trustee | A registered charge | 1 property | 27/06/2016 | 29/03/2022 | |
| outstanding | Highland and Universal Securities as Security Agent Highland and Universal Securities Limited as Security Agent | A registered charge | — | 10/12/2014 | — | |
| satisfied | Alexander Inglis and Son Alexander Inglis and Son Limited | A registered charge | 1 property | 29/11/2013 | 29/03/2022 | |
| outstanding | Highland and Universal Securities Highland and Universal Securities Limited | A registered charge | 1 property | 29/11/2013 | — | |
| satisfied | Blair Carnegie Nimmo in His Capacity as Trustee on the Sequestrated Estate of Malcolm James Scott | A registered charge | 1 property | 21/10/2013 | 21/05/2015 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (125 total)
accounts-with-accounts-type-small
accounts · AA
2025-12-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-23
change-account-reference-date-company-previous-shortened
accounts · AA01
2025-08-07
capital-variation-of-rights-attached-to-shares
capital · SH10
2025-03-31
accounts-with-accounts-type-small
accounts · AA
2025-03-28
memorandum-articles
incorporation · MA
2025-03-26
capital-statement-capital-company-with-date-currency-figure
capital · SH19
2025-03-25
legacy
capital · SH20
2025-03-25
legacy
insolvency · CAP-SS
2025-03-25
resolution
resolution · RESOLUTIONS
2025-03-25
capital-allotment-shares
capital · SH01
2025-03-24
confirmation-statement-with-updates
confirmation-statement · CS01
2024-10-22
accounts-with-accounts-type-small
accounts · AA
2024-03-15
confirmation-statement-with-updates
confirmation-statement · CS01
2023-10-27
accounts-with-accounts-type-small
accounts · AA
2023-03-21