A UFO or a drone? A rainbow, or a satellite???

 Is it a UFO or something else a refracted object or just a rainbow???

Spotted over Kirkcudbright Scotland last month.

Strange object or light ball beside the sun. Could it be a circular refraction of light but what if it is an object?? The square cloud line around it is also strange. What do you think it is ???

Could it be a UFO or military device?? A drone reflecting light? Who knows?