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PELICANBAY LIMITED

Registered Number
SC396538
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2025

PELICANBAY LIMITED
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

Mandy Joan Sandilands
Robert Alexander Sandilands

Registered Address

90 Main Street
Thornton
Kirkcaldy
KY1 4AG

Registered Number

SC396538 (Scotland)
PELICANBAY LIMITED
Balance Sheet as at
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets383,63830,802
83,63830,802
Current assets
Stocks62,78079,549
Debtors434,84327,950
Cash at bank and on hand47,1916,502
144,814114,001
Creditors amounts falling due within one year5(241,596)(236,687)
Net current assets (liabilities)(96,782)(122,686)
Total assets less current liabilities(13,144)(91,884)
Creditors amounts falling due after one year6(68,236)(21,279)
Provisions for liabilities(10,890)(5,852)
Net assets(92,270)(119,015)
Capital and reserves
Called up share capital300300
Profit and loss account(92,570)(119,315)
Shareholders' funds(92,270)(119,015)
The financial statements were approved and authorised for issue by the Board of Directors on 21 July 2025, and are signed on its behalf by:
Mandy Joan Sandilands
Director
Registered Company No. SC396538
PELICANBAY LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the directors who have confirmed that they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20252024
Average number of employees during the year1012
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 February 2411,47186,4356,1281,150105,184
Additions19273,484-38374,059
Disposals-(40,826)--(40,826)
At 31 January 2511,663119,0936,1281,533138,417
Depreciation and impairment
At 01 February 249,49560,2893,4481,15074,382
Charge for year53410,8686708112,153
On disposals-(31,756)--(31,756)
At 31 January 2510,02939,4014,1181,23154,779
Net book value
At 31 January 251,63479,6922,01030283,638
At 31 January 241,97626,1462,680-30,802
4.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables24,35626,954
Other debtors9,65080
Prepayments and accrued income837916
Total34,84327,950
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables86,47074,539
Bank borrowings and overdrafts4,91945,777
Amounts owed to related parties10,11820,718
Taxation and social security14,7106,205
Finance lease and HP contracts8,89320,366
Other creditors43,46867,068
Accrued liabilities and deferred income73,0182,014
Total241,596236,687
6.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts21,31418,692
Other creditors46,9222,587
Total68,23621,279