CARMICHAEL HOMES RATHO LTD

🌿Early-stageactive

SC725985 · ltd · incorporated 2022-03-11

Investment thesis

Property vehicle with a workable charge structure — clean refinance potential.

Why interesting: Asset-backed; value largely in underlying property; lender engagement likely possible.

Why risky: Dependent on title and valuation due diligence; standard property risks.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Mar 2025

Net worth

£-298

book net assets

Opportunity

76/100

Strong

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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 76/100 (strong), bankability 75/100. High owner-dependency — earn-out structure likely required for clean transition. Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

1 live charge · oldest 1.8y

50/100

clean up first

Refinance viable after a tidy-up — address the highlighted items first.

· Newest facility, 1.8 years old — likely still in initial term.
· Single lender — cleanest path to refinance.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: high (84/100)

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

Lenders & charges

1 charges (1/1 with lender, 1/1 with type)

Directors & officers

2 officers (2 active, 2 linked, 2 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

13 connected companies via shared directors

Filing history

11 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

76/100Strong

PassWatchWorth a lookStrongExceptional

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

Business quality

Adequate — check latest filings for context.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared

Negative net assets

Liabilities exceed assets by £298

Cash YoY

+59%

Year on year

Key financials

2 years extracted from filed iXBRL accounts

Cash

£4k

↑ 59% YoY

Net Worth

-£298

↓ 273% YoY

Current Assets

£2.5m

↑ 82% YoY

Current Liabilities

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-03-31	2024-03-31
Total assets	£-298	£-80
Current assets	£2.53M	£1.39M
Cash	£3.9k	£2.5k
Net assets	£-298	£-80

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

filings

Last 90 days

filing

• 1 confirmation-statement

Last 180 days

filings

• 1 confirmation-statement
• 1 accounts

Counts from Companies House filing history.

Corporate timeline (11 events)Click to expand

2025-12-19
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-12-19
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-08-28
📄
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-08-21
🔒
Charge registered #1
Lender: John Mcnally Brady
2023-11-21
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-01-09
✏️
certificate-change-of-name-company
change-of-name · CERTNM
2023-01-09
📄
resolution
resolution · RESOLUTIONS
2022-03-11
🏢
Company incorporated
As CARMICHAEL HOMES RATHO LTD
2022-03-11
➕
CARMICHAEL, Scott Alexander appointed
director
2022-03-11
➕
HILL, Clive appointed
director
2022-03-11
📄
incorporation-company
incorporation · NEWINC

Owner dependency

81/100

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

+Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
+Founder name in company name: Company name contains director surname "CARMICHAEL" — strong identity link between founder and business.
+Senior director age: Director aged approximately 64 — approaching natural succession window.

Succession & seller-readiness

56/100

Strong succession signal

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

SIGNALS

primaryFounder aged 63+: Senior director is approximately 64. Approaching typical UK retirement age — succession thinking likely.
secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

clean

No red flags detected from available public data. (This is not a clean bill of health — detailed accounts review still recommended.)

Group structure

Clive Hill Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Clive Hill Ltd

Corporate parent · holds 75-100% shares · board control

ultimate parent

⬇

CARMICHAEL HOMES RATHO LTD

This company · SC725985

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
Clive Hill Ltd Corporate entity	75–100%	75–100%	board control75-100% shares · 75-100% voting · board control	11/03/2022

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 · G postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
GEORGE LESLIE LIMITED→ SC251886 · est 2003	£42.07M £30.05M–£54.09M	—	—	43000	22y	87	59y
MACKENZIE CONSTRUCTION LIMITED→ SC073177 · est 1980	£19.04M £13.60M–£24.48M	—	—	292	45y	87	61y
SLM MACKENZIE LIMITED→ SC243618 · est 2003	£19.02M £13.59M–£24.46M	—	—	292	23y	86	63y
LUDDON CONSTRUCTION LIMITED→ SC057943 · est 1975	£11.36M £8.11M–£14.61M	—	—	540	50y	87	60y
CURTIS MOORE (CLADDING SYSTEMS) LIMITED→ SC206369 · est 2000	£6.45M £4.61M–£8.30M	—	—	3700	26y	85	65y
A.B. 2000 LTD.→ SC155832 · est 1995	£6.43M £4.59M–£8.26M	—	—	10600	31y	84	46y
FRONT LINE CONSTRUCTION LIMITED→ SC068593 · est 1979	£3.67M £2.62M–£4.72M	—	—	106	46y	83	56y
VEITCHI INTERIORS LIMITED→ SC042401 · est 1965	£3.00M £2.15M–£3.86M	—	—	53	60y	87	61y
WESTPOINT CONSTRUCTION COMPANY (SCOTLAND) LTD→ SC101441 · est 1986	£968.2k £691.5k–£1.24M	—	—	66	39y	85	70y
INSITE CONTRACTS LIMITED→ SC162464 · est 1996	£682.9k £487.8k–£878.0k	—	—	47	30y	85	60y
TARPAVE LIMITED→ SC240089 · est 2002	£32.6k £23.3k–£41.9k	£2.30M	—	1100	23y	84	65y
A H F CONSTRUCTION MANAGEMENT LTD.→ SC352436 · est 2008	—	—	£2.19M	—	17y	83	58y

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.

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Company details

Statusactive

Typeltd

Incorporated2022-03-11

Jurisdictionscotland

Primary SIC41100 — Development of building projects

Registered office

Challenge House

29 Canal Street

Glasgow

G4 0AD

Scotland

Filing status

Accounts

Next due: 2026-12-31

Last made up to: 2025-03-31

Confirmation statement

Next due: 2027-03-24

Last: 2026-03-10

Officers (2 active · 0 resigned)

CARMICHAEL, Scott Alexander→

director · ~55y · appointed 2022-03-11

View their other companies + combined net worth →

Active

HILL, Clive→

director · ~64y · appointed 2022-03-11

View their other companies + combined net worth →

Active

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:1 of 1 shown

			Type	Properties
	outstanding	John Mcnally Brady	A registered charge	1 property	21/08/2024	—

Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (11 total)

confirmation-statement-with-no-updates

confirmation-statement · CS01

2026-03-11

accounts-with-accounts-type-total-exemption-full

accounts · AA

2025-12-19

confirmation-statement-with-no-updates

confirmation-statement · CS01

2025-03-10

accounts-with-accounts-type-total-exemption-full

accounts · AA

2024-12-19

mortgage-create-with-deed-with-charge-number-charge-creation-date

mortgage · MR01

2024-08-28

confirmation-statement-with-no-updates

confirmation-statement · CS01

2024-03-13

accounts-with-accounts-type-total-exemption-full

accounts · AA

2023-11-21

confirmation-statement-with-no-updates

confirmation-statement · CS01

2023-03-10

certificate-change-of-name-company

change-of-name · CERTNM

2023-01-09

resolution

resolution · RESOLUTIONS

2023-01-09

incorporation-company

incorporation · NEWINC

2022-03-11