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 Scotland 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 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,023,217	898,721
Investment property	5	19,089,156	18,635,824
Investments	6	1	1
		20,112,374	19,534,546
Current assets
Debtors	7	4,501,675	4,587,850
Cash at bank and in hand		51,771	24,831
		4,553,446	4,612,681
Creditors: Amounts falling due within one year	8	(28,195,296)	(26,793,257)
Net current liabilities		(23,641,850)	(22,180,576)
Net liabilities		(3,529,476)	(2,646,030)
Capital and reserves
Called up share capital		4	4
Retained earnings		(3,529,480)	(2,646,034)
Shareholders' deficit		(3,529,476)	(2,646,030)

For the financial year ending 31 December 2025 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 25 May 2026 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 2025

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 2025.

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.

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	Straight line at 10%
Motor Vehicles	Straight line at 20%
Fixtures & Fittings	Straight line at 20%
Office Equipment	Straight line at 20%

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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 31 (2024 - 23).

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 January 2025	119,437	880,361	9,599	101,830
Additions	32,412	380,244	457	14,300
Disposals	-	(206,268)	-	(10,250)
At 31 December 2025	151,849	1,054,337	10,056	105,880
Depreciation
At 1 January 2025	26,796	156,452	2,893	26,365
Charge for the year	23,824	93,440	1,925	21,580
Eliminated on disposal	-	(48,046)	-	(6,324)
At 31 December 2025	50,620	201,846	4,818	41,621
Carrying amount
At 31 December 2025	101,229	852,491	5,238	64,259
At 31 December 2024	92,641	723,909	6,706	75,465

	Total £
Cost or valuation
At 1 January 2025	1,111,227
Additions	427,413
Disposals	(216,518)
At 31 December 2025	1,322,122
Depreciation
At 1 January 2025	212,506
Charge for the year	140,769
Eliminated on disposal	(54,370)
At 31 December 2025	298,905
Carrying amount
At 31 December 2025	1,023,217
At 31 December 2024	898,721

Bute Island Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Investment properties

	2025 £
At 1 January	18,635,824
Additions	717,612
Disposals	(264,280)
At 31 December	19,089,156

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

6	Investments

	2025 £	2024 £
Investments in subsidiaries	1	1