FM DUNDEE LIMITED

🌳Matureactive
SC292045 · ltd · incorporated 2005-10-20
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 20.3y old — refinance window within 12 months
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Feb 2024
Net worth
—
book net assets
Opportunity
80/100
Exceptional
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What this business does
Primary activity: Buying and selling of own real estate
Sector: Real estate
Investor take
Pursue
Property-backed borrower with a 81-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 75/100. Strong seller-intent signal (73/100, director aged 81). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Discharge stale live charges. 1 live charge(s) created 15+ years ago — likely paid but undischarged. Clean register. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

4 live charges · 2 lenders · oldest 20.3y

50/100
clean up first

Refinance viable after a tidy-up — address the highlighted items first.

  • · Oldest live charge is 20.3 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Legal-friction score 25/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (76/100)

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

Company profile
address, 1 SIC codes, incorporation date
100
Financials
1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed
50
Lenders & charges
4 charges (4/4 with lender, 4/4 with type)
90
Directors & officers
8 officers (5 active, 8 linked, 6 with DOB)
85
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
37 connected companies via shared directors
90
Filing history
73 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
80/100Exceptional
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
85
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

1 year extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—

Financials

Extracted from Companies House accounts · accounting standard unknown
Metric2024-02-28
Average employees0

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
1
filing
  • • 1 confirmation-statement
Counts from Companies House filing history.
Corporate timeline (34 events)Click to expand
  1. 2025-09-23
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  2. 2024-11-22
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  3. 2023-11-08
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  4. 2022-10-17
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  5. 2021-11-04
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  6. 2020-03-25
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  7. 2019-03-28
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  8. 2018-04-24
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  9. 2017-09-19
    📄
    accounts-with-accounts-type-micro-entity
    accounts · AA
  10. 2016-05-16
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  11. 2015-11-02
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  12. 2015-04-23
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  13. 2014-10-29
    📄
    annual-return-company-with-made-up-date-full-list-shareholders
    annual-return · AR01
  14. 2014-10-29
    📍
    change-registered-office-address-company-with-date-old-address-new-address
    address · AD01
  15. 2014-07-31
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  16. 2014-06-05
    ➖
    HOOKHAM, Peter resigned
    director
  17. 2010-01-14
    🔓
    Charge satisfied #4
  18. 2010-01-14
    🔓
    Charge satisfied #3
  19. 2006-09-25
    🔒
    Charge registered #4
    Lender: Clydesdale Bank Public Limited Company
  20. 2006-09-14
    ➕
    GARRY, Steven Bernard appointed
    director
  21. 2006-09-14
    ➕
    HOOKHAM, Peter appointed
    director
  22. 2006-02-20
    🔓
    Charge satisfied #1
  23. 2006-02-09
    🔒
    Charge registered #3
    Lender: Clydesdale Bank Public Limited Company
  24. 2006-01-11
    🔒
    Charge registered #2
    Lender: Clydesdale Bank Public Limited Company
  25. 2005-12-16
    🔒
    Charge registered #1
    Lender: The Governor and Company of the Bank of Scotland
  26. 2005-11-22
    ➕
    MILNE, Jonathon Alexander appointed
    secretary
  27. 2005-11-22
    ➕
    FORBES, John Inglis appointed
    director
  28. 2005-11-22
    ➕
    MILNE, John Todd appointed
    director
  29. 2005-11-22
    ➕
    MILNE, Jonathon Alexander appointed
    director
  30. 2005-11-22
    ➖
    THORNTONS LAW LLP resigned
    corporate-secretary
  31. 2005-11-22
    ➖
    HUTCHESON, Iain Henderson resigned
    director
  32. 2005-10-20
    🏢
    Company incorporated
    As FM DUNDEE LIMITED
  33. 2005-10-20
    ➕
    THORNTONS LAW LLP appointed
    corporate-secretary
  34. 2005-10-20
    ➕
    HUTCHESON, Iain Henderson appointed
    director

Owner dependency

73/100
High — earn-out structure required

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

FACTORS
  • -4 active directors: Broader management team in place — suggests transferable governance.
  • +Long-tenure founder: Senior director has been in place 20 years — deep operational knowledge concentrated in one person.
  • +Founder age: Director aged approximately 81 — succession pressure is live.
  • +Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

90/100
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 81 years old. Natural succession window is now.
  • primary20+ year tenure: Director in role 20 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 21 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

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.

Group structure

Lindores Limited holds 25-50% — a significant corporate investor but not a controlling parent.

🏛️
Lindores Limited
Corporate parent · holds 25-50% shares
significant stake
⬇
FM DUNDEE LIMITED
This company · SC292045

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner
NameSharesVoting rightsNature of controlNotified
Lindores Limited
Corporate entity
25–50%
—25-50% shares06/04/2016

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 →

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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
Incorporated2005-10-20
Jurisdictionscotland
Primary SIC68100 — Buying and selling of own real estate

Registered office

9 Great Stuart Street
Edinburgh
EH3 7TP

Filing status

Accounts
Next due: 2026-11-30
Last made up to: 2025-02-28
Confirmation statement
Next due: 2026-10-30
Last: 2025-10-16

Officers (5 active · 3 resigned)

MILNE, Jonathon Alexander→
secretary · appointed 2005-11-22
View their other companies + combined net worth →
Active
FORBES, John Inglis→
director · ~79y · appointed 2005-11-22
View their other companies + combined net worth →
Active
GARRY, Steven Bernard→
director · ~65y · appointed 2006-09-14
View their other companies + combined net worth →
Active
MILNE, John Todd→
director · ~81y · appointed 2005-11-22
View their other companies + combined net worth →
Active
MILNE, Jonathon Alexander→
director · ~56y · appointed 2005-11-22
View their other companies + combined net worth →
Active
THORNTONS LAW LLP→
corporate-secretary · appointed 2005-10-20 · resigned 2005-11-22
Resigned
HOOKHAM, Peter→
director · ~66y · appointed 2006-09-14 · resigned 2014-06-05
Resigned
HUTCHESON, Iain Henderson→
director · ~64y · appointed 2005-10-20 · resigned 2005-11-22
Resigned

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

Mortgages & charges

4
Total charges
1
Outstanding
1
Active lenders
Status:Lender:4 of 4 shown
TypeProperties
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security1 property25/09/200614/01/2010
satisfied
Virgin Money
Clydesdale Bank Public Limited Company
Standard security1 property09/02/200614/01/2010
outstanding
Virgin Money
Clydesdale Bank Public Limited Company
Floating charge1 property11/01/2006—
satisfied
Lloyds Banking Group
The Governor and Company of the Bank of Scotland
Floating charge1 property16/12/200520/02/2006
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (73 total)

confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-10-29
accounts-with-accounts-type-micro-entity
accounts · AA
2025-09-23
accounts-with-accounts-type-micro-entity
accounts · AA
2024-11-22
confirmation-statement-with-no-updates
confirmation-statement · CS01
2024-10-16
accounts-with-accounts-type-micro-entity
accounts · AA
2023-11-08
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-10-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-10-24
accounts-with-accounts-type-micro-entity
accounts · AA
2022-10-17
accounts-with-accounts-type-micro-entity
accounts · AA
2021-11-04
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-10-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-10-21
accounts-with-accounts-type-micro-entity
accounts · AA
2020-03-25
confirmation-statement-with-no-updates
confirmation-statement · CS01
2019-10-23
accounts-with-accounts-type-micro-entity
accounts · AA
2019-03-28
confirmation-statement-with-no-updates
confirmation-statement · CS01
2018-10-29