W9 DEVELOPMENTS LTD

🌿Early-stageactive
SC764449 · ltd · incorporated 2023-03-31
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 Sept 2025
Net worth
—
book net assets
Opportunity
70/100
Strong
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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
Pursue
Strong opportunity: property-backed borrower with strong profile and acceptable with review structure.

Opportunity 70/100 (strong), bankability 70/100. 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 (58/100).

🏦

Refinance opportunity

5 live charges · 2 lenders · oldest 2.3y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Newest facility, 2.3 years old — likely still in initial term.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 15/100 — clean.

Data confidence

Overall: high (81/100)

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
5 charges (5/5 with lender, 5/5 with type)
90
Directors & officers
2 officers (2 active, 2 linked, 2 with DOB)
90
Ownership & PSC
2 active PSC(s) of 2 total, 2 with control declared
90
Director network
5 connected companies via shared directors
60
Filing history
17 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
70/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
55
Some acquirability indicators.
Risk profile
77
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£0Sept 2024Sept 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2025-09-302024-09-30

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
1
filing
  • • 1 accounts
Last 90 days
1
filing
  • • 1 accounts
Last 180 days
1
filing
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (26 events)Click to expand
  1. 2026-05-14
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2025-07-28
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  3. 2025-07-28
    🔓
    Charge satisfied #2
  4. 2025-06-06
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  5. 2025-06-06
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  6. 2025-06-06
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  7. 2025-06-06
    🔓
    Charge satisfied #4
  8. 2025-06-06
    🔓
    Charge satisfied #3
  9. 2025-06-06
    🔓
    Charge satisfied #1
  10. 2025-05-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2025-03-03
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  12. 2025-02-27
    🔒
    Charge registered #5
    Lender: Lendinvest Btl Limited
  13. 2024-06-07
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  14. 2024-05-02
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  15. 2024-05-01
    🔒
    Charge registered #4
    Lender: Spf Bridging LTD
  16. 2024-04-26
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  17. 2024-04-11
    🔒
    Charge registered #3
    Lender: Spf Bridging LTD
  18. 2024-03-01
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  19. 2024-02-27
    🔒
    Charge registered #2
    Lender: Spf Bridging LTD
  20. 2024-02-26
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  21. 2024-02-15
    🔒
    Charge registered #1
    Lender: Spf Bridging LTD
  22. 2023-11-07
    📄
    change-account-reference-date-company-previous-shortened
    accounts · AA01
  23. 2023-03-31
    🏢
    Company incorporated
    As W9 DEVELOPMENTS LTD
  24. 2023-03-31
    ➕
    WALSH, Fraser John appointed
    director
  25. 2023-03-31
    ➕
    WALSH, Jacqueline Margaret appointed
    director
  26. 2023-03-31
    📄
    incorporation-company
    incorporation · NEWINC

Owner dependency

66/100
High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS
  • +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

36/100
Weak signal

Limited succession signal. Not a near-term off-market candidate.

SIGNALS
  • secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Shareholders & ownership

2 active beneficial owners
NameSharesVoting rightsNature of controlNotified
Mr Fraser John Walsh
Individual · British · DOB 07/1977 · age 49
25–50%
25–50%board control25-50% shares · 25-50% voting · board control31/03/2023
Mrs Jacqueline Margaret Walsh
Individual · British · DOB 02/1975 · age 51
25–50%
25–50%board control25-50% shares · 25-50% voting · board control31/03/2023

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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———————
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
Incorporated2023-03-31
Jurisdictionscotland
Primary SIC68100 — Buying and selling of own real estate

Registered office

39b West Main Street
Uphall
Broxburn
EH52 5DR
Scotland

Filing status

Accounts
Next due: 2027-06-30
Last made up to: 2025-09-30
Confirmation statement
Next due: 2026-10-31
Last: 2025-10-17

Officers (2 active · 0 resigned)

WALSH, Fraser John→
director · ~49y · appointed 2023-03-31
View their other companies + combined net worth →
Active
WALSH, Jacqueline Margaret→
director · ~51y · appointed 2023-03-31
View their other companies + combined net worth →
Active

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

Mortgages & charges

5
Total charges
1
Outstanding
1
Active lenders
Status:Lender:5 of 5 shown
TypeProperties
outstanding
LendInvest
Lendinvest Btl Limited
A registered charge1 property27/02/2025—
satisfied
Spf Bridging
Spf Bridging LTD
A registered charge2 properties01/05/202406/06/2025
satisfied
Spf Bridging
Spf Bridging LTD
A registered charge—11/04/202406/06/2025
satisfied
Spf Bridging
Spf Bridging LTD
A registered charge4 properties27/02/202428/07/2025
satisfied
Spf Bridging
Spf Bridging LTD
A registered charge—15/02/202406/06/2025
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (17 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2026-05-14
confirmation-statement-with-updates
confirmation-statement · CS01
2025-10-20
mortgage-satisfy-charge-full
mortgage · MR04
2025-07-28
mortgage-satisfy-charge-full
mortgage · MR04
2025-06-06
mortgage-satisfy-charge-full
mortgage · MR04
2025-06-06
mortgage-satisfy-charge-full
mortgage · MR04
2025-06-06
accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-05-28
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2025-03-03
confirmation-statement-with-updates
confirmation-statement · CS01
2024-10-28
accounts-with-accounts-type-micro-entity
accounts · AA
2024-06-07
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-05-02
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-04-26
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-03-01
mortgage-create-with-deed-with-charge-number-charge-creation-date
mortgage · MR01
2024-02-26
change-account-reference-date-company-previous-shortened
accounts · AA01
2023-11-07