Bute Boatbuilders Ltd

Bute Boatbuilders Ltd is a small, active company based in Port Bannatyne, Isle of Bute, UK. Founded six years ago in August 2018, it employs nine people and holds £454,046 in assets. The company, with a real registered address and a single director and owner (Ferguson Ewen Guthrie), is a regular importer of iron and steel, having imported for 13 months, the last operation being in November 2023.

The company specialises in the repair and maintenance of ships and boats, offering custom-built vessels, including passenger ferries and workboats. Its website highlights a series of recent launches, including a landing craft for Scottish Sea Farms and a passenger ferry for the Arranmore Ferry Co. Bute Boatbuilders also provides services such as museum-grade piano restoration and disaster recovery. The company’s website details a history of building vessels for commercial and industrial clients, and it’s clearly aiming to expand its reach beyond word-of-mouth referrals.

Financially, Bute Boatbuilders Ltd shows some concerning trends. Current assets have decreased by 12% to £450,000, while debtors have plummeted by a staggering 87% to just £24,000. Bank borrowings have increased by 10000%, reaching £59,000, and cash reserves have dropped by 65% to £320,000. Creditors have decreased by 61%, suggesting better debt management, and equity has increased by 14% to £600,000. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the sharp drop in debtors and increase in bank borrowings are worrying. No auditor is mentioned, which is likely due to the company being exempt as a small entity.

Despite these challenges, Bute Boatbuilders Ltd seems to be actively pursuing new business and expanding its service offerings. Whether it can sustain this growth while managing its finances remains to be seen.

Registered in Scotland under the registration number SC606237, with a registered address at PA20 0QY, Scotland, Port Bannatyne, Isle Of Bute, Undraynian Point, Port Bannatyne.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.