PELICANBAY LIMITED


Directors	Laura Ann Janice Moller
	Mandy Joan Sandilands
	Robert Alexander Sandilands


Registered Address	90 Main Street
	Thornton
	Kirkcaldy
	KY1 4AG


Registered Number	SC396538 (Scotland)

Balance Sheet as at
31 January 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		65,076		83,638
			65,076		83,638
Current assets
Stocks		65,461		62,780
Debtors	4	13,614		34,843
Cash at bank and on hand		14,492		47,191
		93,567		144,814
Creditors amounts falling due within one year	5	(182,182)		(241,596)
Net current assets (liabilities)			(88,615)		(96,782)
Total assets less current liabilities			(23,539)		(13,144)
Creditors amounts falling due after one year	6		(56,936)		(68,236)
Provisions for liabilities			(7,664)		(10,890)
Net assets			(88,139)		(92,270)
Capital and reserves
Called up share capital			300		300
Profit and loss account			(88,439)		(92,570)
Shareholders' funds			(88,139)		(92,270)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 3 June 2026, 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 2026

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.

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 machinery	25	-
Fixtures and fittings	25	-
Vehicles	25	-
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.

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


		2026		2025
	Average number of employees during the year	10		10

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 February 25	11,663	119,093	6,128	1,533	138,417
Additions	-	-	2,415	100	2,515
At 31 January 26	11,663	119,093	8,543	1,633	140,932
Depreciation and impairment
At 01 February 25	10,029	39,401	4,118	1,231	54,779
Charge for year	409	19,923	600	145	21,077
At 31 January 26	10,438	59,324	4,718	1,376	75,856
Net book value
At 31 January 26	1,225	59,769	3,825	257	65,076
At 31 January 25	1,634	79,692	2,010	302	83,638

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	9,811	24,356
Other debtors	1,049	9,650
Prepayments and accrued income	2,754	837
Total	13,614	34,843

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	76,890	86,470
Bank borrowings and overdrafts	5,713	4,919
Amounts owed to related parties	4,918	10,118
Taxation and social security	13,779	14,710
Finance lease and HP contracts	6,546	8,893
Other creditors	11,254	43,468
Accrued liabilities and deferred income	63,082	73,018
Total	182,182	241,596

6.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	16,396	21,314
Other creditors	40,540	46,922
Total	56,936	68,236