BLACK BULL ESTATES LIMITED

🌳Matureactive

SC254334 · ltd · incorporated 2003-08-15

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.

Opportunity decay

approaching window · 12-months

Approaching a transaction window — refinance or sale event plausible in the next 12 months.

· Oldest live charge 18.5y old — refinance window within 12 months

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Aug 2025

Net worth

—

book net assets

Opportunity

82/100

Exceptional

🔒Generate AI memo →🔒Outreach pack →🔒Corporate story →📑 Reports →Sign in to watch

What this business does

Primary activity: Development of building projects

Sector: Construction

ALSO REGISTERED FOR

68100Buying and selling of own real estate
68209Other letting and operating of own or leased real estate

Investor take

Pursue

Active trading company with a 62-year-old founder — textbook succession opportunity.

Opportunity 82/100 (exceptional), bankability 75/100. Strong seller-intent signal (70/100, director aged 62). Share purchase looks the cleaner deal structure. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 18.5y

70/100

ready

Refinance conversation should be productive — structure clean and timing right.

· Oldest live charge is 18.5 years old — likely at or near maturity.
· Two lenders — manageable, but coordination required.
· Legal-friction score 15/100 — clean.

Data confidence

Overall: high (80/100)

Strong data coverage across all sections. AI outputs should be trusted with minimal caveats.

Company profile

address, 3 SIC codes, incorporation date

100

Financials

2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed

Lenders & charges

4 charges (4/4 with lender, 4/4 with type)

Directors & officers

5 officers (2 active, 5 linked, 3 with DOB)

Ownership & PSC

2 active PSC(s) of 2 total, 2 with control declared

Director network

6 connected companies via shared directors

Filing history

64 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

Opportunity Score

82/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

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

—

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · accounting standard unknown

Metric	2025-08-31	2024-08-31
Average employees	2	0

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 accounts

Last 180 days

filing

• 1 accounts

Counts from Companies House filing history.

Corporate timeline (29 events)Click to expand

2026-02-04
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2025-05-20
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2024-04-11
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2023-03-28
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2022-05-23
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2021-08-23
📄
accounts-with-accounts-type-micro-entity
accounts · AA
2020-06-01
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2019-06-14
➕
MCCLURG, Julie appointed
director
2019-06-14
📄
appoint-person-director-company-with-name-date
officers · AP01
2019-06-03
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2018-05-18
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2017-06-08
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2016-09-22
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2016-09-11
➖
1924 NOMINEES LTD resigned
corporate-secretary
2016-08-10
📍
change-registered-office-address-company-with-date-old-address-new-address
address · AD01
2016-06-07
📄
accounts-with-accounts-type-total-exemption-full
accounts · AA
2015-08-28
📄
annual-return-company-with-made-up-date-full-list-shareholders
annual-return · AR01
2011-11-10
🔒
Charge registered #4
Lender: Aggregate Industries UK Limited
2011-11-10
🔒
Charge registered #3
Lender: Aggregate Industries UK Limited
2011-11-10
🔒
Charge registered #2
Lender: Aggregate Industries UK Limited
2008-07-22
➖
MCCLURG, Julie resigned
director
2008-01-10
🔓
Charge satisfied #1
2007-11-07
🔒
Charge registered #1
Lender: The Royal Bank of Scotland PLC
2003-09-16
➕
MCCLURG, Raymond appointed
director
2003-09-16
➕
MCCLURG, Julie appointed
director
2003-09-16
➖
1924 DIRECTORS LIMITED resigned
corporate-director
2003-08-15
🏢
Company incorporated
As BLACK BULL ESTATES LIMITED
2003-08-15
➕
1924 NOMINEES LTD appointed
corporate-secretary
2003-08-15
➕
1924 DIRECTORS LIMITED appointed
corporate-director

Owner dependency

84/100

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 23 years — deep operational knowledge concentrated in one person.
+Senior director age: Director aged approximately 62 — approaching natural succession window.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

76/100

Likely off-market candidate

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

SIGNALS

secondaryFounder aged 58+: Senior director is approximately 62. Early succession window.
secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
primary20+ year tenure: Director in role 23 years. Very long tenure is a classic succession signal.
secondaryStable-but-static management: Company is 23 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

clean

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

Shareholders & ownership

2 active beneficial owners

Name	Shares	Voting rights	Nature of control	Notified
Mr Raymond Mcclurg Individual · British · DOB 06/1964 · age 62	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016
Mrs Julie Mcclurg Individual · British · DOB 08/1968 · age 58	25–50%	25–50%	25-50% shares · 25-50% voting	06/04/2016

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 · Construction · EH postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
A TICKHILL AND SONS LTD→ SC799966 · est 2024 · no financials extracted	—	—	—	—	2y	—	—
AMRO DEVELOPMENT LIMITED→ SC539309 · est 2016 · no financials extracted	—	—	—	—	9y	—	—
AOP ASSOCIATES LTD→ SC615117 · est 2018 · no financials extracted	—	—	—	—	7y	—	—
APEX FIRE & SECURITY LIMITED→ SC350599 · est 2008 · no financials extracted	—	—	—	—	17y	—	—
AQUARIUS THERMAL SYSTEMS LTD→ SC313788 · est 2006 · no financials extracted	—	—	—	—	19y	—	—
AREACENTRE LIMITED→ SC144187 · est 1993 · no financials extracted	—	—	—	—	32y	—	—
ARK DEV LTD→ SC835253 · est 2025 · no financials extracted	—	—	—	—	1y	—	—
ARMIK INVESTMENTS LTD→ SC771761 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
ARMITSCOT DEVELOPMENTS LIMITED→ SC053538 · est 1973 · no financials extracted	—	—	—	—	52y	—	—
ARONA INC LTD→ SC660560 · est 2020 · no financials extracted	—	—	—	—	5y	—	—
ARTURUS ROOF SURVEYS LTD→ SC777782 · est 2023 · no financials extracted	—	—	—	—	2y	—	—
ASAP FLOORING SOLUTIONS LTD→ SC616522 · est 2018 · no financials extracted	—	—	—	—	7y	—	—

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

Incorporated2003-08-15

Jurisdictionscotland

Primary SIC41100 — Development of building projects

Registered office

7 Hopetoun Crescent

Edinburgh

EH7 4AY

Scotland

Filing status

Accounts

Next due: 2027-05-31

Last made up to: 2025-08-31

Confirmation statement

Next due: 2026-08-29

Last: 2025-08-15

Officers (2 active · 3 resigned)

MCCLURG, Julie→

director · ~58y · appointed 2019-06-14

View their other companies + combined net worth →

Active

MCCLURG, Raymond→

director · ~62y · appointed 2003-09-16

View their other companies + combined net worth →

Active

1924 NOMINEES LTD→

corporate-secretary · appointed 2003-08-15 · resigned 2016-09-11

Resigned

MCCLURG, Julie→

director · ~58y · appointed 2003-09-16 · resigned 2008-07-22

Resigned

1924 DIRECTORS LIMITED→

corporate-director · appointed 2003-08-15 · resigned 2003-09-16

Resigned

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

Mortgages & charges

Total charges

Outstanding

Active lenders

Status:Lender:4 of 4 shown

		Type	Properties
outstanding	Aggregate Industries UK Aggregate Industries UK Limited	Standard security	1 property	10/11/2011	—
outstanding	Aggregate Industries UK Aggregate Industries UK Limited	Standard security	1 property	10/11/2011	—
outstanding	Aggregate Industries UK Aggregate Industries UK Limited	Standard security	1 property	10/11/2011	—
satisfied	Lloyds Banking Group The Royal Bank of Scotland PLC	Bond & floating charge	1 property	07/11/2007	10/01/2008

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