REGISTERED NUMBER: SC283719 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

GALCA-SHELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Neil Alexander Cameron

Tania Suzanne Cameron

SECRETARY:

Tania Suzanne Cameron

REGISTERED OFFICE:

R A Clement Associates

5 Argyll Square

OBAN

PA34 4AZ

REGISTERED NUMBER:

SC283719 (Scotland)

ACCOUNTANTS:

R A Clement Associates

5 Argyll Square

OBAN

Argyll

PA34 4AZ

FIXED ASSETS

Intangible assets

4

534

1,068

Tangible assets

5

121,773

134,230

122,307

135,298

CURRENT ASSETS

Debtors

6

3,143

4,668

Cash at bank

42,076

74,903

45,219

79,571

CREDITORS

Amounts falling due within one year

7

86,104

75,183

NET CURRENT (LIABILITIES)/ASSETS

(40,885

)

4,388

TOTAL ASSETS LESS CURRENT LIABILITIES

81,422

139,686

PROVISIONS FOR LIABILITIES

23,101

25,500

NET ASSETS

58,321

114,186

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

58,221

114,086

SHAREHOLDERS' FUNDS

58,321

114,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2026 and were signed on its behalf by:

Neil Alexander Cameron - Director

1.	STATUTORY INFORMATION

Galca-shell Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The Pioneer

-

5% on cost

Elena

-

5% on cost

Shed

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

The Pioneer and Elena are not being depreciated on the basis that the value of the boats remains consistent with the balance sheet value as a result of the bouyancy of the fishing industry.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 1 February 2025

and 31 January 2026

30,000

5,340

35,340

AMORTISATION

At 1 February 2025

30,000

4,272

34,272

Amortisation for year

-

534

534

At 31 January 2026

30,000

4,806

34,806

NET BOOK VALUE

At 31 January 2026

-

534

534

At 31 January 2025

-

1,068

1,068

5.	TANGIBLE FIXED ASSETS

The

Pioneer

Elena

Shed

£

£

£

COST

At 1 February 2025

and 31 January 2026

150,000

60,000

9,026

DEPRECIATION

At 1 February 2025

60,000

24,000

6,973

Charge for year

7,500

3,208

205

At 31 January 2026

67,500

27,208

7,178

NET BOOK VALUE

At 31 January 2026

82,500

32,792

1,848

At 31 January 2025

90,000

36,000

2,053

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2025

and 31 January 2026

77,229

24,039

1,886

322,180

DEPRECIATION

At 1 February 2025

76,756

18,335

1,886

187,950

Charge for year

118

1,426

-

12,457

At 31 January 2026

76,874

19,761

1,886

200,407

NET BOOK VALUE

At 31 January 2026

355

4,278

-

121,773

At 31 January 2025

473

5,704

-

134,230

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,142

1,498

Other debtors

2,001

3,170

3,143

4,668

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Taxation and social security

6,270

21,168

Other creditors

79,834

54,015

86,104

75,183