TULLOCH DEVELOPMENTS LIMITED
Company number SC271815 · Monitor this company
Executive 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.
Shareholders' funds
£9,112,176
Balance sheet as at 2025-03-31
What it does
The principal activity of the company remains as Civil Engineering Contractors, with a strong bias towards Marine Civil Engineering.
The company's own description, from its latest filed accounts.
Overview
- Company type
- Private Limited Company
- Incorporated
- 2004-08-10
- Employees
- 33 (2025 accounts · was 43 in 2024)
- Registered office
- Gremista, Lerwick, Shetland, ZE1 0PX
- Postcode
- ZE1 0PX
- Capital
- 2,800,000 GBP
- Accounts category
- Total Exemption Full
- Charges
- 1 outstanding
Accounts
- Last made up to
- 2025-03-31
- Next due by
- 2026-12-31
- Financial year end
- 31 March
Confirmation statement
- Last statement dated
- 2026-08-12
- Next due by
- 2027-08-26
Nature of business (SIC)
- 41100 Development of building projects
- 71129 Other engineering activities
Officers 4 current · 8 resigned
Group structure 1 subsidiary
From persons-with-significant-control filings on the public register.
Data protection registration
Registered with the ICO as a data protection fee payer — ZA548432 (Tier 2), registered since 2019.
Information Commissioner's Office register of fee payers, licensed under the Open Government Licence.
Political donations 1
£2,000 in registered political donations since 2016.
-
Liberal Democrats
Source: the Electoral Commission's register of donations — this company's full record, Open Government Licence v3.0.
Previous company names
| Name | Date changed |
|---|---|
| TULLOCH DEVELOPMENTS PROPERTIES LIMITED | 2004-10-14 |
Previous registered addresses 1
| Address | Changed on |
|---|---|
| TWATT, BIXTER, SHETLAND, ZE2 9LX | 2007-07-09 |
Among its peers
Top 10%
by shareholders' funds, of 16 similar companies in ZE
The largest employer among its local peers (33 staff).
Among the oldest 25% of its local peers, trading since 2004.
Competitors Shetland
This company ranks 1 among development of building projects in Shetland.
The class of 2004
33%
of the 3,600 companies in this sector incorporated in 2004 are still active today; 64% have since been dissolved.
A fact about the year, not a forecast for this company.
Businesses that transport or deal in waste must register with the Environment Agency. You can check this company on the official register of waste carriers, brokers and dealers.