NATSTONE DEVELOPMENTS LTD.
🌳Matureactive
SC190694 · ltd · incorporated 1998-10-30
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 Nov 2024
Net worth
£44.6k
book net assets
Opportunity
82/100
Exceptional
What this business does
Primary activity: Other letting and operating of own or leased real estate
Sector: Real estate
Investor take
PursueProperty-backed borrower. Family succession underway — not a classic acquisition target.
Opportunity 82/100 (exceptional), bankability 57/100. Same-surname younger director in place — likely family handover, not open to sale. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).
🏦
Refinance opportunity
4 live charges · 3 lenders · oldest 26.3y
35/100
too messy
Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.
- · Oldest live charge is 26.3 years old — likely at or near maturity.
- · 3 lenders named — inter-creditor friction likely.
- · Legal-friction score 35/100 — workable, but lender will want more DD.
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
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
13 officers (3 active, 13 linked, 9 with DOB)
84
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
11 connected companies via shared directors
78
Filing history
102 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
🔒Estimated company valuation
Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.
Available from the Pro tier upwards.
See pricing →Opportunity Score
82/100Exceptional
PassWatchWorth a lookStrongExceptional
Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.
Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
85
Few red flags.
Signal strength
100
Good data coverage for analysis.
Signals from accounts
Derived from iXBRL accounts · FRS 102Positive net assets
Net assets £44,605
Cash YoY
+699%
Year on year
Key financials
2 years extracted from filed iXBRL accountsCash
£67k
↑ 699% YoY
Net Worth
£45k
↑ 494% YoY
Current Assets
£427k
↑ 4.2% YoY
Current Liabilities
—
Hover to see exact values · click legend to toggle series
Financials
Extracted from Companies House accounts · FRS 102| Metric | 2024-11-30 | 2023-11-30 |
|---|---|---|
| Total assets | £44.6k | £-11.3k |
| Current assets | £426.7k | £409.7k |
| Cash | £66.9k | £8.4k |
| Debtors | £359.8k | £401.3k |
| Net assets | £44.6k | £-11.3k |
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
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (45 events)Click to expand
- 2025-09-30📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2024-08-23📄accounts-with-accounts-type-unaudited-abridgedaccounts · AA
- 2023-08-24📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2022-08-09📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-11-08📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-11-01➕TURNBULL, Karen Louise appointeddirector
- 2021-08-27📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2021-02-02📄change-person-secretary-company-with-change-dateofficers · CH03
- 2021-02-02📄change-person-director-company-with-change-dateofficers · CH01
- 2021-01-18📄termination-director-company-with-name-termination-dateofficers · TM01
- 2020-11-05📄accounts-with-accounts-type-total-exemption-fullaccounts · AA
- 2020-10-26➖TURNBULL, James Reginald resigneddirector
- 2020-10-08📄legacyother · AGREEMENT2
- 2020-10-08📄legacyother · GUARANTEE2
- 2020-07-02📄mortgage-create-with-deed-with-charge-number-charge-creation-datemortgage · MR01
- 2020-06-30🔒Charge registered #4Lender: Clydesdale Bank PLC (Trading as Both Clydesdale and Yorkshire Bank) (Company Number SC001111)
- 2019-09-02📄accounts-with-accounts-type-audit-exemption-subsiduaryaccounts · AA
- 2019-09-02📄legacyaccounts · PARENT_ACC
- 2019-09-02📄legacyother · AGREEMENT2
- 2019-09-02📄legacyother · GUARANTEE2
- 2013-03-31➖CAIRNS, Henry resigneddirector
- 2013-03-31➖MCMILLAN, Andrew resigneddirector
- 2005-04-21➕TURNBULL, Henry appointedsecretary
- 2005-04-21➖TAYLOR, Gordon John resignedsecretary
- 2005-01-31➖TAYLOR, Gordon John resigneddirector
- 2004-03-05➖ANDERSON, Derek resigneddirector
- 2001-11-27➖GRANT, Douglas Robertson resignedsecretary
- 2001-11-27➕TAYLOR, Gordon John appointedsecretary
- 2001-11-27➖GRANT, Douglas Robertson resigneddirector
- 2001-11-27➕TAYLOR, Gordon John appointeddirector
- 2000-08-16🔒Charge registered #3Lender: Clydesdale Bank Public Limited Company
- 2000-02-23🔒Charge registered #2Lender: Clydesdale Bank Public Limited Company
- 2000-02-21🔒Charge registered #1Lender: Forth Valley Enterprise
- 1999-10-31➕ANDERSON, Derek appointeddirector
- 1999-10-31➕CAIRNS, Henry appointeddirector
- 1999-10-31➕MCMILLAN, Andrew appointeddirector
- 1999-10-31➕TURNBULL, James Reginald appointeddirector
- 1999-06-01➕TURNBULL, Henry appointeddirector
- 1999-06-01➕GRANT, Douglas Robertson appointedsecretary
- 1999-06-01➕GRANT, Douglas Robertson appointeddirector
- 1998-10-30🏢Company incorporatedAs NATSTONE DEVELOPMENTS LTD.
- 1998-10-30➕REID, Brian appointednominee-secretary
- 1998-10-30➖REID, Brian resignednominee-secretary
- 1998-10-30➕MABBOTT, Stephen appointednominee-director
- 1998-10-30➖MABBOTT, Stephen resignednominee-director
Owner dependency
91/100
Critical — business is the founderThe 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.
- +Long-tenure founder: Senior director has been in place 27 years — deep operational knowledge concentrated in one person.
- +Founder age: Director aged approximately 80 — succession pressure is live.
- +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.
Succession & seller-readiness
56/100
Strong succession signalMultiple signals suggest succession is on the horizon. Candidate for proactive outreach.
SIGNALS
- primaryFamily succession underway: Not a takeover target — TURNBULL, Karen Louise (same surname) appointed 2021-11-01. Pattern consistent with intra-family handover.
- primaryFounder aged 70+: Senior director is approximately 80 years old. Natural succession window is now.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
- primary20+ year tenure: Director in role 27 years. Very long tenure is a classic succession signal.
- secondaryStable-but-static management: Company is 28 years old and no new directors in the last 3 years — succession not yet being planned internally.
- supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.
Red flags
cleanNo 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 · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
Mr Henry Turnbull Individual · British · DOB 08/1946 · age 80 | — | 75–100% | 75-100% voting | 30/10/2016 |
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 →Similar companies
Active · Property · FK postcode area| Company | Est. value | Turnover | Net worth | Staff | Age | Opp | Director |
|---|---|---|---|---|---|---|---|
| JS PROPERTY (SCOTLAND) LIMITED→ SC265091 · est 2004 | £838.4k £712.6k–£964.1k | — | £838.4k | — | 22y | 82 | 66y |
| LLAFRANC PROPERTIES LIMITED→ SC213190 · est 2000 | £765.8k £650.9k–£880.6k | — | £765.8k | — | 25y | 82 | 67y |
| VILLAFIELD LTD.→ SC339039 · est 2008 | £533.9k £453.8k–£614.0k | — | £533.9k | — | 18y | 82 | 58y |
| CHURCH STREET INVESTMENTS (INVERNESS) LIMITED→ SC296811 · est 2006 | £472.3k £401.4k–£543.1k | — | £472.3k | — | 20y | 82 | 67y |
| R & H PROPERTIES LTD.→ SC197981 · est 1999 | £447.6k £380.5k–£514.8k | — | £447.6k | — | 26y | 82 | 66y |
| DIS INVESTMENTS LIMITED→ SC228996 · est 2002 | £372.7k £316.8k–£428.6k | — | £372.7k | — | 24y | 82 | 64y |
| CHINA PALACE (GLASGOW) LIMITED→ SC309502 · est 2006 | £232.6k £197.7k–£267.5k | — | £232.6k | — | 19y | 81 | 64y |
| A. MCCALLUM (PROPERTIES) LIMITED→ SC148001 · est 1993 | £168.8k £143.5k–£194.1k | — | £168.8k | — | 32y | 82 | 60y |
| CENTRAL SCOTLAND HOMES LIMITED→ SC351414 · est 2008 | £134.5k £114.3k–£154.6k | — | £134.5k | — | 17y | 82 | 93y |
| VIRGIL LTD.→ SC370740 · est 2010 | £115.5k £98.2k–£132.9k | — | £115.5k | — | 16y | 82 | 58y |
| ALPHA EQUITIES LIMITED→ SC331034 · est 2007 | £105.8k £89.9k–£121.6k | — | £105.8k | — | 18y | 83 | 63y |
| SOLSO LIMITED→ SC334086 · est 2007 | £57.5k £48.9k–£66.1k | — | £57.5k | — | 18y | 83 | 60y |
Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions
8 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
Incorporated1998-10-30
Jurisdictionscotland
Primary SIC68209 — Other letting and operating of own or leased real estate
Registered office
Wallace House Whitehouse Road
Stirling
FK7 7TA
Filing status
Accounts
Next due: 2026-08-31
Last made up to: 2024-11-30
Confirmation statement
Next due: 2026-11-13
Last: 2025-10-30
Officers (3 active · 10 resigned)
Active
TURNBULL, Henry→
Activedirector · ~80y · appointed 1999-06-01
View their other companies + combined net worth →
TURNBULL, Karen Louise→
Activedirector · ~49y · appointed 2021-11-01
View their other companies + combined net worth →
GRANT, Douglas Robertson→
Resignedsecretary · appointed 1999-06-01 · resigned 2001-11-27
REID, Brian→
Resignednominee-secretary · appointed 1998-10-30 · resigned 1998-10-30
TAYLOR, Gordon John→
Resignedsecretary · appointed 2001-11-27 · resigned 2005-04-21
ANDERSON, Derek→
Resigneddirector · ~67y · appointed 1999-10-31 · resigned 2004-03-05
CAIRNS, Henry→
Resigneddirector · ~79y · appointed 1999-10-31 · resigned 2013-03-31
GRANT, Douglas Robertson→
Resigneddirector · ~73y · appointed 1999-06-01 · resigned 2001-11-27
MABBOTT, Stephen→
Resignednominee-director · ~76y · appointed 1998-10-30 · resigned 1998-10-30
MCMILLAN, Andrew→
Resigneddirector · ~76y · appointed 1999-10-31 · resigned 2013-03-31
TAYLOR, Gordon John→
Resigneddirector · ~60y · appointed 2001-11-27 · resigned 2005-01-31
TURNBULL, James Reginald→
Resigneddirector · ~57y · appointed 1999-10-31 · resigned 2020-10-26
Click a director name to see their full track record across all companies.
Mortgages & charges
4
Total charges
4
Outstanding
2
Active lenders
Status:Lender:4 of 4 shown
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| outstanding | Virgin Money Clydesdale Bank PLC (Trading as Both Clydesdale and Yorkshire Bank) (Company Number SC001111) | A registered charge | — | 30/06/2020 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Standard security | 1 property | 16/08/2000 | — | |
| outstanding | Virgin Money Clydesdale Bank Public Limited Company | Floating charge | 1 property | 23/02/2000 | — | |
| outstanding | Forth Valley Enterprise | Standard security | 1 property | 21/02/2000 | — |
Click column headers to sort. Use filters above to narrow by status and lender.
Recent filings (102 total)
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-11-10
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-09-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-11-06
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-08-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-31
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-08-24
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-31
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-08-09
appoint-person-director-company-with-name-date
officers · AP01
2021-11-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-11-01
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-08-27
change-person-secretary-company-with-change-date
officers · CH03
2021-02-02
change-person-director-company-with-change-date
officers · CH01
2021-02-02
termination-director-company-with-name-termination-date
officers · TM01
2021-01-18
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-12-21