SPEYPROJECTS LTD

🌳Matureactive
SC449496 · ltd · incorporated 2013-05-08
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
—
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Turnover
—
year to May 2025
Net worth
£202.7k
book net assets
Opportunity
74/100
Strong
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What this business does
Primary activity: Other manufacturing n.e.c.
Sector: Manufacturing
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 74/100 (strong), bankability 75/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Cash flow review and working-capital discipline. Cash down -37% YoY — forensic review of receivables, stock turns, and creditor days. Most likely exit: share sale to pe / searcher (58/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 8.9y

30/100
under pressure

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

  • · Oldest live charge is 8.9 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 (77/100)

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
3 officers (2 active, 3 linked, 2 with DOB)
83
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
Network not yet resolved
30
Filing history
45 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
74/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
50
Some acquirability indicators.
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 £202,694
Net assets shrinking
Down £153,527 YoY
Cash YoY
-37%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£106k
↓ 37% YoY
Net Worth
£203k
↓ 43% YoY
Current Assets
£906k
↓ 14% YoY
Current Liabilities
—
£0£210k£421k£631k£842k£1.1mMay 2024May 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-05-312024-05-31
Total assets£348.9k£630.3k
Current assets£905.9k£1.05M
Cash£105.8k£168.8k
Debtors£475.2k£633.4k
Net assets£202.7k£356.2k

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
  • • 1 persons-with-significant-control
  • • 1 officers
  • • 1 confirmation-statement
Last 90 days
4
filings
  • • 1 persons-with-significant-control
  • • 1 officers
  • • 1 confirmation-statement
Last 180 days
5
filings
  • • 1 persons-with-significant-control
  • • 1 officers
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
  1. 2026-04-23
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  2. 2026-04-23
    📄
    change-person-director-company-with-change-date
    officers · CH01
  3. 2026-02-12
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  4. 2026-01-26
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  5. 2026-01-09
    🔒
    Charge registered #2
    Lender: Bibby Factors Limited
  6. 2025-02-13
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2024-06-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  8. 2024-06-10
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  9. 2023-09-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2022-08-16
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2021-12-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2021-07-02
    📄
    capital-allotment-shares
    capital · SH01
  13. 2021-06-21
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  14. 2021-06-21
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  15. 2021-04-27
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  16. 2020-05-12
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  17. 2019-11-19
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  18. 2019-04-10
    📄
    change-to-a-person-with-significant-control
    persons-with-significant-control · PSC04
  19. 2019-02-22
    ➖
    DONALDSON, Robert Adams Brown resigned
    secretary
  20. 2017-06-12
    🔒
    Charge registered #1
    Lender: Hsbc Invoice Finance (UK) LTD
  21. 2013-05-08
    🏢
    Company incorporated
    As SPEYPROJECTS LTD
  22. 2013-05-08
    ➕
    ARNOLD, Jason Douglas appointed
    director
  23. 2013-05-08
    ➕
    GREEN, Gareth appointed
    director
  24. 2013-05-08
    ➕
    DONALDSON, Robert Adams Brown appointed
    secretary

Owner dependency

58/100
Moderate — manageable with handover

Some 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 signal

Some 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 13 years.
  • 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

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Gareth Green
Individual · British · DOB 08/1980 · age 46
25–50%
25–50%25-50% shares · 25-50% voting31/05/2018
Mr Jason Douglas Arnold
Individual · British · DOB 05/1972 · age 54
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.

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GAEL FORCE GROUP LIMITED→
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——170024y8362y
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

6 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
Incorporated2013-05-08
Jurisdictionscotland
Primary SIC32990 — Other manufacturing n.e.c.

Registered office

Unit 2 Troves Industrial Estate
Elgin
IV30 8RB
Scotland

Filing status

Accounts
Next due: 2027-02-28
Last made up to: 2025-05-31
Confirmation statement
Next due: 2027-04-11
Last: 2026-03-28

Officers (2 active · 1 resigned)

ARNOLD, Jason Douglas→
director · ~54y · appointed 2013-05-08
View their other companies + combined net worth →
Active
GREEN, Gareth→
director · ~46y · appointed 2013-05-08
View their other companies + combined net worth →
Active
DONALDSON, Robert Adams Brown→
secretary · appointed 2013-05-08 · resigned 2019-02-22
Resigned

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

Mortgages & charges

2
Total charges
2
Outstanding
2
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
outstanding
Bibby Financial Services
Bibby Factors Limited
A registered charge—09/01/2026—
outstanding
HSBC
Hsbc Invoice Finance (UK) LTD
A registered charge—12/06/2017—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (45 total)

change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-04-23
change-person-director-company-with-change-date
officers · CH01
2026-04-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2026-04-15
accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-02-12
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2026-01-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-04-27
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-02-13
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2024-06-10
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-06-10
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-04-16
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-09-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-04
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-08-16
confirmation-statement-with-updates
confirmation-statement · CS01
2022-04-26
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-12-20