Registration number: SC698295

Bute Island Developments Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7
Accountants' Report	8

Bute Island Developments Ltd

Company Information

Directors

Mr Guy Crichton Ms Deborah Catarina Goncalves Dawson Mr Mark Ian Crichton

Registered office

14 Craigmore Road Rothesay Isle Of Bute PA20 9LB

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Bute Island Developments Ltd

(Registration number: SC698295)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	875,047	783,881
Investment property	5	18,659,498	16,367,101
Investments	6	1	1
		19,534,546	17,150,983
Current assets
Debtors	7	4,587,850	4,461,745
Cash at bank and in hand		24,831	55,764
		4,612,681	4,517,509
Creditors: Amounts falling due within one year	8	(26,793,257)	(23,428,602)
Net current liabilities		(22,180,576)	(18,911,093)
Net liabilities		(2,646,030)	(1,760,110)
Capital and reserves
Called up share capital		4	4
Retained earnings		(2,646,034)	(1,760,114)
Shareholders' deficit		(2,646,030)	(1,760,110)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 September 2025 and signed on its behalf by:
 

......................................... Mr Guy Crichton Director

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the director(s) that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 31 December 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	10% Straight Line
Motor Vehicles	20% Straight Line
Fixtures & Fittings	20% Straight Line
Office Equipment	20% Straight Line

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 16).

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 January 2024	58,517	770,990	6,968	47,830
Additions	60,920	118,840	2,631	54,000
Disposals	-	(37,129)	-	-
At 31 December 2024	119,437	852,701	9,599	101,830
Depreciation
At 1 January 2024	9,031	75,743	1,389	14,261
Charge for the year	17,765	81,028	1,504	12,104
Eliminated on disposal	-	(4,305)	-	-
At 31 December 2024	26,796	152,466	2,893	26,365
Carrying amount
At 31 December 2024	92,641	700,235	6,706	75,465
At 31 December 2023	49,486	695,247	5,579	33,569

	Total £
Cost or valuation
At 1 January 2024	884,305
Additions	236,391
Disposals	(37,129)
At 31 December 2024	1,083,567
Depreciation
At 1 January 2024	100,424
Charge for the year	112,401
Eliminated on disposal	(4,305)
At 31 December 2024	208,520
Carrying amount
At 31 December 2024	875,047
At 31 December 2023	783,881

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Investment properties

	2024 £
At 1 January	16,367,101
Additions	2,292,397
At 31 December	18,659,498

There has been no valuation of investment property by an independent valuer.

6	Investments

	2024 £	2023 £
Investments in subsidiaries	1	1