Registration number:
Port nan Gael Stores Limited
for the Year Ended 30 November 2025
Port nan Gael Stores Limited
Contents
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Company Information |
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Director's Report |
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Accountants' Report |
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Detailed Profit and Loss Account |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Port nan Gael Stores Limited
Company Information
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Director |
Ms Fiona Mary Woods |
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Company secretary |
Mrs Sarah Braid |
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Registered office |
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Accountants |
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Port nan Gael Stores Limited
Director's Report for the Year Ended 30 November 2025
The director presents her report and the financial statements for the year ended 30 November 2025.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is operating a general store
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
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Port nan Gael Stores Limited
for the Year Ended 30 November 2025
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 Stores Limited for the year ended 30 November 2025 as set out on pages 6 to 14 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 Stores 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 Stores Limited and state those matters that we have agreed to state to the Board of Directors of Port nan Gael Stores 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 Stores 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 Stores 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 Stores Limited. You consider that Port nan Gael Stores 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 Stores 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.
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1 Aldersyde
Taynuilt
Argyll
PA35 1AG
Port nan Gael Stores Limited
Detailed Profit and Loss Account for the Year Ended 30 November 2025
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Year ended 30 November 2025 |
6 November 2023 to 30 November 2024 |
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turnover (analysed below) |
589,016 |
214,325 |
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Cost of sales (analysed below) |
(439,334) |
(149,564) |
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Gross profit |
149,682 |
64,761 |
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Gross profit (%) |
25.41% |
30.22% |
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Administrative expenses |
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Employment costs (analysed below) |
(68,088) |
(35,739) |
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Establishment costs (analysed below) |
(37,832) |
(3,886) |
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General administrative expenses (analysed below) |
(15,095) |
(52,409) |
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Finance charges (analysed below) |
(5,593) |
(2,374) |
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Depreciation costs (analysed below) |
(3,651) |
(1,500) |
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(130,259) |
(95,908) |
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Operating profit/(loss) |
19,423 |
(31,147) |
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Profit/(loss) before tax |
19,423 |
(31,147) |
Port nan Gael Stores Limited
Detailed Profit and Loss Account for the Year Ended 30 November 2025
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2025 |
2024 |
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Turnover |
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Sale of goods, UK |
589,016 |
214,325 |
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Cost of sales |
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Opening merchandise |
(45,000) |
- |
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Purchases |
(432,892) |
(173,447) |
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Direct costs |
(6,442) |
(21,117) |
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Closing merchandise |
45,000 |
45,000 |
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(439,334) |
(149,564) |
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Employment costs |
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Wages and salaries (excluding directors) |
(68,088) |
(35,739) |
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Establishment costs |
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Rent |
(25,000) |
- |
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Light, heat and power |
(8,593) |
- |
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Insurance |
(4,239) |
(3,886) |
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(37,832) |
(3,886) |
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General administrative expenses |
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Repairs and maintenance |
(2,697) |
(37,773) |
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Computer software and maintenance costs |
(2,428) |
- |
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Printing, postage and stationery |
(854) |
(2,507) |
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Trade subscriptions |
(220) |
- |
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Hire of plant and machinery (Operating leases) |
(1,992) |
(2,915) |
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Sundry expenses |
(3) |
- |
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Cleaning |
(385) |
(81) |
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Travel and subsistence |
(477) |
(42) |
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Advertising |
- |
(305) |
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Accountancy fees |
(1,284) |
(2,314) |
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Legal and professional fees |
(4,755) |
(6,472) |
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(15,095) |
(52,409) |
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Finance charges |
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Bank charges |
(418) |
(2,374) |
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Credit card charges |
(5,175) |
- |
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(5,593) |
(2,374) |
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Depreciation costs |
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Depreciation of plant and machinery (owned) |
(3,651) |
(1,500) |
Port nan Gael Stores Limited
Profit and Loss Account for the Year Ended 30 November 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit/(loss) |
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( |
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Profit/(loss) before tax |
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( |
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Profit/(loss) for the financial year |
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( |
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 Stores Limited
Statement of Comprehensive Income for the Year Ended 30 November 2025
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2025 |
2024 |
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Profit/(loss) for the year |
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( |
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Total comprehensive income for the year |
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( |
Port nan Gael Stores Limited
(Registration number: SC788236)
Balance Sheet as at 30 November 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(11,724) |
(31,147) |
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Shareholders' deficit |
(11,624) |
(31,047) |
For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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
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Port nan Gael Stores Limited
Statement of Changes in Equity for the Year Ended 30 November 2025
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Share capital |
Retained earnings |
Total |
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At 1 December 2024 |
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( |
( |
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Profit for the year |
- |
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At 30 November 2025 |
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( |
( |
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Share capital |
Retained earnings |
Total |
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Loss for the year |
- |
( |
( |
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New share capital subscribed |
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- |
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At 30 November 2024 |
100 |
(31,147) |
(31,047) |
Port nan Gael Stores Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025
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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:
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Asset class |
Depreciation method and rate |
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Plant & machinery |
20% reducing balance |
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 Stores Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Port nan Gael Stores Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Profit/loss before tax |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Port nan Gael Stores Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025
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Tangible assets |
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Other tangible assets |
Total |
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Cost or valuation |
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At 1 December 2024 |
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Additions |
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At 30 November 2025 |
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Depreciation |
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At 1 December 2024 |
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Charge for the year |
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At 30 November 2025 |
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Carrying amount |
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At 30 November 2025 |
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At 30 November 2024 |
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Stocks |
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2025 |
2024 |
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Other inventories |
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Debtors |
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Current |
2025 |
2024 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Other creditors |
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Port nan Gael Stores Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Hire purchase contracts |
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Parent and ultimate parent undertaking |
The company's immediate parent is