Registration number: SC640525

No.26 The Sea Limited

Contents

Company Information	1
Director's 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 13

No.26 The Sea Limited

Company Information

Director

Mr Paul Gerrard Sloan

Registered office

1 The Pier Oban Argyll Scotland PA34 4LW

Accountants

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

No.26 The Sea Limited

Director's Report for the Year Ended 31 March 2026

The director presents his report and the financial statements for the year ended 31 March 2026.

Director of the company

The director who held office during the year was as follows:

Mr Paul Gerrard Sloan

Principal activity

The principal activity of the company is operating a hotel

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 director on 2 September 2026
 

......................................... Mr Paul Gerrard Sloan Director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
No.26 The Sea Limited
for the Year Ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of No.26 The Sea Limited for the year ended 31 March 2026 as set out on pages 4 to 13 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 No.26 The Sea 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 No.26 The Sea Limited and state those matters that we have agreed to state to the Board of Directors of No.26 The Sea 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 No.26 The Sea Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that No.26 The Sea 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 No.26 The Sea Limited. You consider that No.26 The Sea 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 No.26 The Sea 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

2 September 2026

No.26 The Sea Limited

Profit and Loss Account for the Year Ended 31 March 2026

	Note	2026 £	2025 £
Turnover		541,280	558,920
Cost of sales		(71,783)	(77,523)
Gross profit		469,497	481,397
Administrative expenses		(389,310)	(323,471)
Operating profit		80,187	157,926
Interest payable and similar expenses		(1,700)	(2,500)
Profit before tax	3	78,487	155,426
Tax on profit		(20,217)	(9,534)
Profit for the financial year		58,270	145,892

The above results were derived from continuing operations.

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

No.26 The Sea Limited

Statement of Comprehensive Income for the Year Ended 31 March 2026

	2026 £	2025 £
Profit for the year	58,270	145,892
Total comprehensive income for the year	58,270	145,892

No.26 The Sea Limited

(Registration number: SC640525)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	9,524	11,905
Current assets
Debtors	5	127,099	36,918
Cash at bank and in hand		27,545	116,926
		154,644	153,844
Creditors: Amounts falling due within one year	6	(26,450)	(46,226)
Net current assets		128,194	107,618
Total assets less current liabilities		137,718	119,523
Creditors: Amounts falling due after more than one year	6	(14,003)	(22,951)
Net assets		123,715	96,572
Capital and reserves
Called up share capital	7	100	100
Retained earnings		123,615	96,472
Shareholders' funds		123,715	96,572

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director on 2 September 2026
 

......................................... Mr Paul Gerrard Sloan Director

No.26 The Sea Limited

Statement of Changes in Equity for the Year Ended 31 March 2026

	Share capital £	Retained earnings £	Total £
At 1 April 2025	100	96,472	96,572
Profit for the year	-	58,270	58,270
Dividends	-	(31,127)	(31,127)
At 31 March 2026	100	123,615	123,715

	Share capital £	Retained earnings £	Total £
At 1 April 2024	100	(16,234)	(16,134)
Profit for the year	-	145,892	145,892
Dividends	-	(33,186)	(33,186)
At 31 March 2025	100	96,472	96,572

No.26 The Sea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 and 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.

No.26 The Sea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2025 - 7).

No.26 The Sea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

3	Profit before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	2,381	2,976

No.26 The Sea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 April 2025	18,601	18,601
At 31 March 2026	18,601	18,601
Depreciation
At 1 April 2025	6,696	6,696
Charge for the year	2,381	2,381
At 31 March 2026	9,077	9,077
Carrying amount
At 31 March 2026	9,524	9,524
At 31 March 2025	11,905	11,905

5

Debtors

Current	2026 £	2025 £
Trade debtors	1,900	1,900
Other debtors	125,199	35,018
	127,099	36,918

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	3,014	15,935
Taxation and social security	20,217	29,466
Other creditors	3,219	825
	26,450	46,226

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	8	14,003	22,951

No.26 The Sea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Creditors include bank loans which are secured of £14,003 (2025 - £22,951).

7	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	14,003	22,951

9

Dividends

		2026		2025
		£		£
Interim dividend of £311.27 (2025 - £331.86) per ordinary share		31,127		33,186

10	Related party transactions

Summary of transactions with parent

Sloan Wells Holdings Ltd Loan

Loans to related parties

2026	Parent £	Total £
At start of period	10,000	10,000
Advanced	20,000	20,000
At end of period	30,000	30,000

2025	Parent £	Total £
Advanced	10,000	10,000
At end of period	10,000	10,000

No.26 The Sea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

11	Parent and ultimate parent undertaking

The company's immediate parent is Anchos Restaurants Ltd, incorporated in England.

 The ultimate parent is Sloan Wells Holdings Ltd, incorporated in Scotland.