BELTRACE (ANTONINE) LIMITED
🌿Early-stageactive
SC742725 · ltd · incorporated 2022-08-30
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 Aug 2024
Net worth
—
book net assets
Opportunity
75/100
Strong
What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
ALSO REGISTERED FOR
- 68209Other letting and operating of own or leased real estate
Investor take
PursueProperty-backed borrower with a 65-year-old founder — textbook succession opportunity.
Opportunity 75/100 (strong), bankability 70/100. Strong seller-intent signal (65/100, director aged 65). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
3 live charges · 2 lenders · oldest 2.0y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Newest facility, 2.0 years old — likely still in initial term.
- · Two lenders — manageable, but coordination required.
- · 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, 2 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
3 officers (3 active, 3 linked, 3 with DOB)
90
Ownership & PSC
2 active PSC(s) of 3 total, 3 with control declared
90
Director network
19 connected companies via shared directors
90
Filing history
18 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
75/100Strong
PassWatchWorth a lookStrongExceptional
Solid opportunity signal. Worth a dedicated memo and management meeting.
Business quality
60
Adequate — check latest filings for context.
Acquirability
75
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.
Key financials
2 years extracted from filed iXBRL accountsCash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2024-08-31 | 2023-08-31 |
|---|---|---|
| Total assets | — | £9.49M |
| Current assets | — | £289.5k |
| Net assets | — | £3.06M |
| Average employees | 0 | — |
Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.
Recent activity
Last 30 days
0
filings
Last 90 days
2
filings
- • 1 officers
- • 1 persons-with-significant-control
Last 180 days
2
filings
- • 1 officers
- • 1 persons-with-significant-control
Counts from Companies House filing history.
Corporate timeline (24 events)Click to expand
- 2026-02-09📄change-person-director-company-with-change-dateofficers · CH01
- 2026-02-09📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2025-08-29📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2025-05-02📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-05-02📄mortgage-satisfy-charge-fullmortgage · MR04
- 2025-05-02🔓Charge satisfied #2
- 2025-05-02🔓Charge satisfied #1
- 2025-04-28📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2025-04-25🔒Charge registered #3Lender: Handelsbanken PLC as Security Trustee
- 2024-05-31📄accounts-with-accounts-type-micro-entityaccounts · AA
- 2024-05-13📄memorandum-articlesincorporation · MA
- 2024-05-13📄resolutionresolution · RESOLUTIONS
- 2024-05-13📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-10📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2024-05-08🔒Charge registered #2Lender: Tracey Investments LTD
- 2024-04-30🔒Charge registered #1Lender: Tracey Investments LTD
- 2023-11-30📄change-person-director-company-with-change-dateofficers · CH01
- 2023-11-30📄change-to-a-person-with-significant-controlpersons-with-significant-control · PSC04
- 2023-02-13📄cessation-of-a-person-with-significant-controlpersons-with-significant-control · PSC07
- 2022-08-30🏢Company incorporatedAs BELTRACE (ANTONINE) LIMITED
- 2022-08-30➕HOWIE, Scott appointeddirector
- 2022-08-30➕TRACEY, Michael appointeddirector
- 2022-08-30➕WILSON, Stuart William appointeddirector
- 2022-08-30📄incorporation-companyincorporation · NEWINC
Owner dependency
65/100
High — earn-out structure requiredMaterial founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.
FACTORS
- +Founder age: Director aged approximately 65 — succession pressure is live.
Succession & seller-readiness
50/100
Moderate signalSome succession indicators present. Worth watching; approach if sector/strategy fits.
SIGNALS
- primaryFounder aged 63+: Senior director is approximately 65. Approaching typical UK retirement age — succession thinking likely.
Red flags
1 med ·Charge satisfaction-then-recreation pattern
mediumMultiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Group structure
Tracey Investments Limited holds 25-50% — a significant corporate investor but not a controlling parent.
🏛️significant stake
Tracey Investments Limited
Corporate parent · holds 25-50% shares · board control
⬇
BELTRACE (ANTONINE) LIMITED
This company · SC742725
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
2 active beneficial owners| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Tracey Investments Limited Corporate entity | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 30/08/2022 |
Stuart Wilson Individual · Scottish · DOB 10/1970 · age 56 | 25–50% | 25–50% | board control25-50% shares · 25-50% voting · board control | 30/08/2022 |
1 historic (ceased) PSC
- Mr Michael Traceyceased 30/08/2022· 25-50% shares · 25-50% voting · board control · significant influence · firm interest
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 · Property · G postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| BCT ALLIANCE LTD→ SC745057 · est 2022 · no financials extracted | — | — | — | — | 3y | — | — |
| BEACON LETS LIMITED→ SC624622 · est 2019 · no financials extracted | — | — | — | — | 7y | — | — |
| BEAT HOLLOW LIMITED→ SC727276 · est 2022 · no financials extracted | — | — | — | — | 4y | — | — |
| BEATTIE ASSETS LTD→ SC764469 · est 2023 · no financials extracted | — | — | — | — | 3y | — | — |
| BELGATE (DUNFERMLINE) LIMITED→ SC835085 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| BELL DEVELOPMENTS (SCOTLAND) LIMITED→ SC113130 · est 1988 · no financials extracted | — | — | — | — | 37y | — | — |
| BELLCOVE LIMITED→ SC504444 · est 2015 · no financials extracted | — | — | — | — | 10y | — | — |
| BENBOW PROPERTIES LIMITED→ SC528482 · est 2016 · no financials extracted | — | — | — | — | 10y | — | — |
| BENZIE & CO. LIMITED→ SC826118 · est 2024 · no financials extracted | — | — | — | — | 1y | — | — |
| BEVE SMILES LIMITED→ SC334447 · est 2007 · no financials extracted | — | — | — | — | 18y | — | — |
| BFS LIVING LTD→ SC833057 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
| BG ESTATES SCOTLAND LIMITED→ SC833560 · est 2025 · no financials extracted | — | — | — | — | 1y | — | — |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
9 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
Incorporated2022-08-30
Jurisdictionscotland
Primary SIC68100 — Buying and selling of own real estate
Registered office
8 John Street
Glasgow
G1 1JQ
Scotland
Filing status
Accounts
Next due: 2026-05-31
Last made up to: 2024-08-31
Confirmation statement
Next due: 2026-09-12
Last: 2025-08-29
Officers (3 active · 0 resigned)
HOWIE, Scott→
Activedirector · ~58y · appointed 2022-08-30
View their other companies + combined net worth →
TRACEY, Michael→
Activedirector · ~65y · appointed 2022-08-30
View their other companies + combined net worth →
WILSON, Stuart William→
Activedirector · ~56y · appointed 2022-08-30
View their other companies + combined net worth →
Click a director name to see their full track record across all companies.
Mortgages & charges
3
Total charges
1
Outstanding
1
Active lenders
Status:Lender:3 of 3 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Handelsbanken as Security Trustee Handelsbanken PLC as Security Trustee | A registered charge | 1 property | 25/04/2025 | — | |
| satisfied | Tracey Investments Tracey Investments LTD | A registered charge | 1 property | 08/05/2024 | 02/05/2025 | |
| satisfied | Tracey Investments Tracey Investments LTD | A registered charge | — | 30/04/2024 | 02/05/2025 |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (18 total)
change-person-director-company-with-change-date
officers · CH01
2026-02-09
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2026-02-09
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-09-09
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-08-29
mortgage-satisfy-charge-full
mortgage · MR04
2025-05-02
mortgage-satisfy-charge-full
mortgage · MR04
2025-05-02
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-04-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-09-03
accounts-with-accounts-type-micro-entity
accounts · AA
2024-05-31
memorandum-articles
incorporation · MA
2024-05-13
resolution
resolution · RESOLUTIONS
2024-05-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-13
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-10
change-person-director-company-with-change-date
officers · CH01
2023-11-30
change-to-a-person-with-significant-control
persons-with-significant-control · PSC04
2023-11-30