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Registration number: SC714034

Port Nan Gael Holiday Park Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Port Nan Gael Holiday Park Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

 

Port Nan Gael Holiday Park Limited

Company Information

Directors

Mr Calum Maclachlainn

Mr Calum Laurie

Registered office

Unit 8A Baliscate Ind Estate
Tobermory
Isle Of Mull
Argyll
PA75 6QA

Accountants

Jack MacDonald & Co Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Port Nan Gael Holiday Park Limited

Directors' Report for the Year Ended 30 November 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Calum Maclachlainn

Mr Calum Laurie

Principal activity

The principal activity of the company is operating a camp site

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 May 2025 and signed on its behalf by:
 

.........................................
Mr Calum Maclachlainn
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Port Nan Gael Holiday Park Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Port Nan Gael Holiday Park Limited for the year ended 30 November 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Port Nan Gael Holiday Park Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Port Nan Gael Holiday Park Limited and state those matters that we have agreed to state to the Board of Directors of Port Nan Gael Holiday Park Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Port Nan Gael Holiday Park Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Port Nan Gael Holiday Park Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Port Nan Gael Holiday Park Limited. You consider that Port Nan Gael Holiday Park Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Port Nan Gael Holiday Park Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

17 May 2025

 

Port Nan Gael Holiday Park Limited

Profit and Loss Account for the Year Ended 30 November 2024

Note

2024
£

2023
£

Turnover

 

278,790

116,854

Cost of sales

 

(46,641)

(28,466)

Gross profit

 

232,149

88,388

Administrative expenses

 

(172,898)

(104,218)

Operating profit/(loss)

 

59,251

(15,830)

Other interest receivable and similar income

 

77

57

Profit/(loss) before tax

3

59,328

(15,773)

Profit/(loss) for the financial year

 

59,328

(15,773)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Port Nan Gael Holiday Park Limited

Statement of Comprehensive Income for the Year Ended 30 November 2024

2024
£

2023
£

Profit/(loss) for the year

59,328

(15,773)

Total comprehensive income for the year

59,328

(15,773)

 

Port Nan Gael Holiday Park Limited

(Registration number: SC714034)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

549,966

378,331

Current assets

 

Debtors

5

21,636

57,000

Cash at bank and in hand

 

12,398

3,959

 

34,034

60,959

Creditors: Amounts falling due within one year

6

(545,858)

(460,476)

Net current liabilities

 

(511,824)

(399,517)

Net assets/(liabilities)

 

38,142

(21,186)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

38,042

(21,286)

Shareholders' funds/(deficit)

 

38,142

(21,186)

For the financial year ending 30 November 2024 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 17 May 2025 and signed on its behalf by:
 

.........................................
Mr Calum Maclachlainn
Director

 

Port Nan Gael Holiday Park Limited

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Retained earnings
£

Total
£

At 1 December 2023

100

(21,286)

(21,186)

Profit for the year

-

59,328

59,328

At 30 November 2024

100

38,042

38,142

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

100

(5,513)

(5,413)

Loss for the year

-

(15,773)

(15,773)

At 30 November 2023

100

(21,286)

(21,186)

 

Port Nan Gael Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

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

10% reducing balance

Land & buildings

in accordance with the property

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Port Nan Gael Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

61,650

42,036

 

Port Nan Gael Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

48,890

371,477

420,367

Additions

104,055

129,230

233,285

At 30 November 2024

152,945

500,707

653,652

Depreciation

At 1 December 2023

4,889

37,147

42,036

Charge for the year

15,294

46,356

61,650

At 30 November 2024

20,183

83,503

103,686

Carrying amount

At 30 November 2024

132,762

417,204

549,966

At 30 November 2023

44,001

334,330

378,331

Included within the net book value of land and buildings above is £132,762 (2023 - £44,001) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

836

875

Other debtors

20,800

56,125

 

21,636

57,000

 

Port Nan Gael Holiday Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

10,987

4,626

Accruals and deferred income

1,200

1,200

Other creditors

533,671

454,650

545,858

460,476

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

Summary of transactions with parent

Tob Property Management & Investment Ltd

Summary of transactions with other related parties

Mr C Maclachlainn (director)

Loans from related parties

2024

Parent
£

Other related parties
£

Total
£

At start of period

80,000

366,600

446,600

Advanced

80,200

-

80,200

At end of period

160,200

366,600

526,800

2023

Parent
£

Other related parties
£

Total
£

At start of period

-

90,000

90,000

Advanced

80,000

276,600

356,600

At end of period

80,000

366,600

446,600