FASTNET DEVELOPMENTS LIMITED

🌳Matureactive
SC194100 · ltd · incorporated 1999-03-08
Investment thesis
Established operating company — standard diligence applies, no dominant angle.
Why interesting: Live, filing, normal profile.
Why risky: No standout signals in either direction.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Jun 2024
Net worth
£6.8k
book net assets
Opportunity
73/100
Strong
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What this business does
Primary activity: SIC 28290
Sector: Manufacturing
ALSO REGISTERED FOR
  • 62090Other information technology service activities
Investor take
Special-situation opportunity
Distressed manufacturing with salvageable qualities — special-situations priority.

Opportunity 73/100 (strong), bankability 57/100. Strong seller-intent signal (88/100, director aged 74). 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

3 live charges · 3 lenders · oldest 14.0y

35/100
too messy

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

  • · Oldest live charge is 14.0 years old — likely at or near maturity.
  • · 3 lenders named — inter-creditor friction likely.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (78/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

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
6 officers (3 active, 6 linked, 5 with DOB)
87
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
Network not yet resolved
30
Filing history
72 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
73/100Strong
PassWatchWorth a lookStrongExceptional 

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

Business quality
60
Adequate — check latest filings for context.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
67
Some moderate concerns — review flags.
Signal strength
100
Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · accounting standard not declared
Positive net assets
Net assets £6,807
Net assets shrinking
Down £61,759 YoY
Cash YoY
+21%
Year on year

Key financials

2 years extracted from filed iXBRL accounts
Cash
£28k
↑ 21% YoY
Net Worth
£7k
↓ 90% YoY
Current Assets
£337k
↓ 8.2% YoY
Current Liabilities
—
£0£73k£147k£220k£294k£367kJun 2023Jun 2024

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-06-302023-06-30
Total assets£59.6k£100.3k
Current assets£336.8k£367.0k
Cash£28.3k£23.4k
Debtors£187.8k£223.0k
Net assets£6.8k£68.6k

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
0
filings
Last 90 days
0
filings
Last 180 days
0
filings
Counts from Companies House filing history.
Corporate timeline (31 events)Click to expand
  1. 2025-06-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  2. 2024-06-26
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  3. 2024-03-21
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  4. 2024-03-21
    🔓
    Charge satisfied #2
  5. 2023-07-28
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  6. 2023-03-23
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  7. 2022-06-30
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  8. 2021-11-29
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  9. 2021-11-29
    🔓
    Charge satisfied #3
  10. 2021-06-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  11. 2020-05-20
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  12. 2020-02-10
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  13. 2019-03-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  14. 2018-03-29
    📄
    accounts-with-accounts-type-total-exemption-full
    accounts · AA
  15. 2017-03-28
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2016-12-02
    📄
    mortgage-create-with-deed-with-charge-number-charge-creation-date
    mortgage · MR01
  17. 2016-11-14
    🔒
    Charge registered #3
    Lender: Edinburgh Alternative Finance Limited (Trading as Lending Crowd)
  18. 2016-04-04
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  19. 2016-03-29
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  20. 2015-03-17
    🔒
    Charge registered #2
    Lender: West of Scotland Loan Fund
  21. 2012-04-19
    🔒
    Charge registered #1
    Lender: Rbs Invoice Finance Limited
  22. 2008-01-07
    ➕
    CAIRNS, Marilyn Elizabeth Mcquillan appointed
    director
  23. 2008-01-07
    ➖
    ANSBAUGH, Scott Foster resigned
    director
  24. 2008-01-07
    ➖
    ROBERTSON, James resigned
    director
  25. 2000-11-16
    ➖
    PARKIN, Allan Norman resigned
    director
  26. 1999-03-08
    🏢
    Company incorporated
    As FASTNET DEVELOPMENTS LIMITED
  27. 1999-03-08
    ➕
    CAIRNS, Robert Boyd appointed
    secretary
  28. 1999-03-08
    ➕
    CAIRNS, Robert Boyd appointed
    director
  29. 1999-03-08
    ➕
    ANSBAUGH, Scott Foster appointed
    director
  30. 1999-03-08
    ➕
    PARKIN, Allan Norman appointed
    director
  31. 1999-03-08
    ➕
    ROBERTSON, James appointed
    director

Owner dependency

91/100
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.
  • +Long-tenure founder: Senior director has been in place 27 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 74 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

91/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 74 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 27 years old and no new directors in the last 3 years — succession not yet being planned internally.

Red flags

1 high ·
Confirmation statement overdue
high

Annual confirmation statement not filed on time. Required statutory filing — overdue is a strong discipline signal.

Evidence: Next due: 2026-03-22

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mrs Marilyn Elizabeth Mcquillan Cairns
Individual · British · DOB 05/1952 · age 74
75–100%
—75-100% shares01/07/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

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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
Incorporated1999-03-08
Jurisdictionscotland
Primary SIC28290 — SIC 28290

Registered office

6-8 Simpson Place
Kilwinning
KA13 6PT
Scotland

Filing status

Accounts
Next due: 2026-06-30
Last made up to: 2024-06-30
Confirmation statement
Next due: 2026-03-22OVERDUE
Last: 2025-03-08

Officers (3 active · 3 resigned)

CAIRNS, Robert Boyd→
secretary · appointed 1999-03-08
View their other companies + combined net worth →
Active
CAIRNS, Marilyn Elizabeth Mcquillan→
director · ~74y · appointed 2008-01-07
View their other companies + combined net worth →
Active
CAIRNS, Robert Boyd→
director · ~74y · appointed 1999-03-08
View their other companies + combined net worth →
Active
ANSBAUGH, Scott Foster→
director · ~65y · appointed 1999-03-08 · resigned 2008-01-07
Resigned
PARKIN, Allan Norman→
director · ~69y · appointed 1999-03-08 · resigned 2000-11-16
Resigned
ROBERTSON, James→
director · ~95y · appointed 1999-03-08 · resigned 2008-01-07
Resigned

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
TypeProperties
satisfied
Edinburgh Alternative Finance (Trading as Lending Crowd)
Edinburgh Alternative Finance Limited (Trading as Lending Crowd)
A registered charge—14/11/201629/11/2021
satisfied
West of Scotland Loan Fund
A registered charge—17/03/201521/03/2024
outstanding
NatWest Group
Rbs Invoice Finance Limited
Floating charge1 property19/04/2012—
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (72 total)

accounts-with-accounts-type-total-exemption-full
accounts · AA
2025-06-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-03-18
accounts-with-accounts-type-total-exemption-full
accounts · AA
2024-06-26
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-03-22
mortgage-satisfy-charge-full
mortgage · MR04
2024-03-21
accounts-with-accounts-type-total-exemption-full
accounts · AA
2023-07-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-03-23
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2023-03-23
accounts-with-accounts-type-total-exemption-full
accounts · AA
2022-06-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-03-28
mortgage-satisfy-charge-full
mortgage · MR04
2021-11-29
accounts-with-accounts-type-total-exemption-full
accounts · AA
2021-06-29
confirmation-statement-with-updates
confirmation-statement · CS01
2021-05-17
accounts-with-accounts-type-total-exemption-full
accounts · AA
2020-05-20
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-03-20