{"name":"TULLOCH DEVELOPMENTS LIMITED","company_number":"SC271815","status":"Active","type":"Private Limited Company","incorporated":"2004-08-10","dissolved":null,"registered_office":"Gremista, Lerwick, Shetland, ZE1 0PX","postcode":"ZE1 0PX","sic_codes":[{"code":41100,"description":"Development of building projects"},{"code":71129,"description":"Other engineering activities"}],"principal_activity":"The principal activity of the company remains as Civil Engineering Contractors, with a strong bias towards Marine Civil Engineering.","previous_names":[{"name":"TULLOCH DEVELOPMENTS PROPERTIES LIMITED","changed_on":"2004-10-14"}],"warnings":[],"accounts":{"category":"Total Exemption Full","year_end":"31 March","last_made_up_to":"2025-03-31","next_due":"2026-12-31"},"employees":{"count":33,"accounts_date":"2025-03-31"},"financials":[{"financial_date":"2025-03-31","profit_loss":1715574,"net_assets":9112176,"cash":4317213,"average_employees":33},{"financial_date":"2024-03-31","profit_loss":3056317,"net_assets":14282664,"cash":7669813,"average_employees":43},{"financial_date":"2021-03-31","net_assets":7627952,"cash":5380308},{"financial_date":"2020-03-31","net_assets":5084217,"cash":4618337},{"financial_date":"2019-03-31","net_assets":6711816,"cash":3595335}],"officers":{"current":4,"resigned":8,"complete":true,"note":"Names and details of individual officers are on the People page (subscriber-only on this site) and free at Companies House."},"charges":{"total":1,"outstanding":1},"gazette_notices":[],"insolvency_outcome":null,"ai_summary":"Tulloch Developments Limited leverages a formidable geographic moat and marine engineering specialization to maintain a dominant position within Shetland's infrastructure market, supported by an exceptionally strong balance sheet (7.33x working capital ratio, £4.3M cash, minimal leverage). However, FY2025's 26% revenue decline alongside significant margin compression and a £6.9M dividend extraction create strategic tension between shareholder returns and reinvestment capacity precisely when energy infrastructure and housing development opportunities demand capital deployment. The path forward requires disciplined margin recovery, targeted investment in plant and property to capture emerging energy-sector work, and governance alignment to ensure the business retains sufficient financial firepower to convert its geographic advantage into sustained growth rather than gradual erosion.","website":null,"links":{"page":"https://www.companiesintheuk.co.uk/ltd/tulloch-developments","people":"https://www.companiesintheuk.co.uk/company/tulloch-developments/people","filing_history":"https://www.companiesintheuk.co.uk/company/tulloch-developments/filing-history","companies_house":"https://find-and-update.company-information.service.gov.uk/company/SC271815","financials":"https://www.companiesintheuk.co.uk/company/tulloch-developments/financial","control":"https://www.companiesintheuk.co.uk/company/tulloch-developments/control","charges":"https://www.companiesintheuk.co.uk/company/tulloch-developments/charges","ai_analysis":"https://www.companiesintheuk.co.uk/company/tulloch-developments/analysis"},"source":"CompaniesInTheUK, from Companies House, The Gazette and other public registers (see /support/about). Cite as: CompaniesInTheUK, https://www.companiesintheuk.co.uk/ltd/tulloch-developments"}