FORMOSA DEVELOPMENTS LIMITED

💤Zombieactive
SC514074 · ltd · incorporated 2015-08-26
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Aug 2024
Net worth
—
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 79/100 (strong), bankability 85/100. Strong seller-intent signal (65/100, director aged 59). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

2 live charges · 2 lenders · oldest 3.6y

20/100
under pressure

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

  • · Charge age ~3.6 years — mid-life; refi window approaching.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: high (82/100)

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
2 charges (2/2 with lender, 2/2 with type)
90
Directors & officers
3 officers (1 active, 3 linked, 3 with DOB)
90
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
33 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Aug 2023Aug 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2024-08-312023-08-31
Average employees100100

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
2
filings
  • • 2 mortgage
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2025-12-29
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  2. 2025-12-29
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  3. 2025-12-29
    🔓
    Charge satisfied #2
  4. 2025-12-29
    🔓
    Charge satisfied #1
  5. 2025-05-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2024-05-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  7. 2024-04-17
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  8. 2024-04-15
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  9. 2023-05-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  10. 2022-09-16
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  11. 2022-09-14
    🔒
    Charge registered #2
    Lender: Crowd Property Limited, as Security Agent
  12. 2022-09-13
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  13. 2022-09-09
    🔒
    Charge registered #1
    Lender: Crowd Property Limited as Security Agent
  14. 2022-05-30
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  15. 2021-07-13
    ➖
    FALKINER, John Derek Nelson resigned
    director
  16. 2021-07-13
    ➖
    HUNTER, Giles Laurier resigned
    director
  17. 2021-07-13
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  18. 2021-07-13
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  19. 2021-05-26
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  20. 2020-08-27
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  21. 2019-05-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  22. 2018-05-09
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  23. 2015-08-26
    🏢
    Company incorporated
    As FORMOSA DEVELOPMENTS LIMITED
  24. 2015-08-26
    ➕
    LEWIS, Sean Gordon appointed
    director
  25. 2015-08-26
    ➕
    FALKINER, John Derek Nelson appointed
    director
  26. 2015-08-26
    ➕
    HUNTER, Giles Laurier appointed
    director

Owner dependency

83/100
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
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

60/100
Strong succession signal

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

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • 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 Sean Gordon Lewis
Individual · British · DOB 08/1967 · age 59
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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————1y——
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————2y——
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SC128363 · est 1990 · no financials extracted
————35y——
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———————
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————20y——
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————22y——
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————2y——
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————20y——
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
Incorporated2015-08-26
Jurisdictionscotland
Primary SIC68100 — Buying and selling of own real estate

Registered office

26-28 High Street
Dundee
DD1 1TA
Scotland

Filing status

Accounts
Next due: 2026-05-31
Last made up to: 2024-08-31
Confirmation statement
Next due: 2026-09-08
Last: 2025-08-25

Officers (1 active · 2 resigned)

LEWIS, Sean Gordon→
director · ~59y · appointed 2015-08-26
View their other companies + combined net worth →
Active
FALKINER, John Derek Nelson→
director · ~64y · appointed 2015-08-26 · resigned 2021-07-13
Resigned
HUNTER, Giles Laurier→
director · ~60y · appointed 2015-08-26 · resigned 2021-07-13
Resigned

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

Mortgages & charges

2
Total charges
0
Outstanding
0
Active lenders
Status:Lender:2 of 2 shown
TypeProperties
satisfied
Crowd Property , as Security Agent
Crowd Property Limited, as Security Agent
A registered charge1 property14/09/202229/12/2025
satisfied
Crowd Property as Security Agent
Crowd Property Limited as Security Agent
A registered charge—09/09/202229/12/2025

Recent filings (33 total)

mortgage-satisfy-charge-full
mortgage · MR04
2025-12-29
mortgage-satisfy-charge-full
mortgage · MR04
2025-12-29
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-08
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-05-30
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-04-17
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2024-04-15
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-09-19
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-05-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-12-20
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-09-16
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2022-09-13
accounts-with-accounts-type-micro-entity
accounts · AA
2022-05-30
confirmation-statement-with-updates
confirmation-statement · CS01
2021-11-23