Relate AccountsProduction v2.5.2 v2.5.2 2021-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the development of fish farms. 31 March 2022 0 0 SC586544 2021-12-31 SC586544 2020-12-31 SC586544 2019-12-31 SC586544 2021-01-01 2021-12-31 SC586544 2020-01-01 2020-12-31 SC586544 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 SC586544 uk-bus:FullAccounts 2021-01-01 2021-12-31 SC586544 uk-bus:Director1 2021-01-01 2021-12-31 SC586544 uk-bus:Director2 2021-01-01 2021-12-31 SC586544 uk-bus:CompanySecretaryDirector1 2021-01-01 2021-12-31 SC586544 uk-bus:CompanySecretary1 2021-01-01 2021-12-31 SC586544 uk-bus:RegisteredOffice 2021-01-01 2021-12-31 SC586544 uk-bus:Agent1 2021-01-01 2021-12-31 SC586544 uk-core:ShareCapital 2021-12-31 SC586544 uk-core:ShareCapital 2020-12-31 SC586544 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 SC586544 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 SC586544 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-12-31 SC586544 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2020-12-31 SC586544 uk-bus:FRS102 2021-01-01 2021-12-31 SC586544 uk-core:PlantMachinery 2021-01-01 2021-12-31 SC586544 uk-core:CostValuation 2020-12-31 SC586544 uk-core:AdditionsToInvestments 2021-12-31 SC586544 uk-core:CostValuation 2021-12-31 SC586544 uk-core:CurrentFinancialInstruments 2021-12-31 SC586544 uk-core:CurrentFinancialInstruments 2020-12-31 SC586544 uk-core:CurrentFinancialInstruments 2021-12-31 SC586544 uk-core:CurrentFinancialInstruments 2020-12-31 SC586544 uk-core:WithinOneYear 2021-12-31 SC586544 uk-core:WithinOneYear 2020-12-31 SC586544 uk-core:ParentEntities 2021-01-01 2021-12-31 SC586544 uk-countries:Ireland 2021-01-01 2021-12-31 SC586544 uk-bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: SC586544
 
 
Simply Blue Aquaculture Limited
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2021
Simply Blue Aquaculture Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Sam Roch-Perks
Christopher Harwood
Hugh C Kelly
 
 
Company Secretary Hugh C Kelly
 
 
Company Registration Number SC586544
 
 
Registered Office and Business Address 21 Young Street
Edinburgh
Scotland
 
 
Accountants Thos Goodall & Son
Chartered Certified Accountants
Link House
Boreenmanna Road
Cork
Republic of Ireland



Simply Blue Aquaculture Limited
DIRECTORS' REPORT
for the financial year ended 31 December 2021

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2021.
 
Principal Activity
The principal activity of the company is the development of fish farms.
     
Directors
The directors who served during the financial year are as follows:
     
Sam Roch-Perks
Christopher Harwood
Hugh C Kelly
   
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
___________________________
Sam Roch-Perks
Director
     
31 March 2022



Simply Blue Aquaculture Limited
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 December 2021
2021 2020
Notes £ £

Turnover 76,727 55,506
───────── ─────────
Gross profit 76,727 55,506
 
Administrative expenses (286,268) (206,559)
───────── ─────────
Loss before taxation (209,541) (151,053)
 
Tax on loss 5 - -
───────── ─────────
Loss for the financial year (209,541) (151,053)
───────── ─────────
Total comprehensive income (209,541) (151,053)
    ═════════   ═════════



Simply Blue Aquaculture Limited
Company Registration Number: SC586544
BALANCE SHEET
as at 31 December 2021

2021 2020
Notes £ £
 
Fixed Assets
Tangible assets 6 734 1,056
Investments 7 170,100 100
───────── ─────────
170,834 1,156
───────── ─────────
 
Current Assets
Debtors 8 239,677 173,286
Cash and cash equivalents 17,058 9,779
───────── ─────────
256,735 183,065
───────── ─────────
Creditors: amounts falling due within one year 9 (975,865) (522,976)
───────── ─────────
Net Current Liabilities (719,130) (339,911)
───────── ─────────
Total Assets less Current Liabilities (548,296) (338,755)
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings (548,396) (338,855)
───────── ─────────
Equity attributable to owners of the company (548,296) (338,755)
═════════ ═════════
 
These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
           
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 31 March 2022 and signed on its behalf by
           
________________________________          
Sam Roch-Perks          
Director          
           



Simply Blue Aquaculture Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2021

   
1. General Information
 
Simply Blue Aquaculture Limited is a company limited by shares incorporated in the United Kingdom. The registered office of the company is 21 Young Street, Edinburgh, Scotland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2021 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The comparative figures relate to the 9 month period ended 31 December 2020.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 4, (2020 - 3).
       
5. Tax on loss
  2021 2020
  £ £
Analysis of charge in the financial year
 
Current tax:
Corporation tax - -
  ═════════ ═════════
Loss taxable at 0.00% (209,541) (151,053)
 
 
No charge to tax arises due to tax losses incurred.
       
6. Tangible assets
  Plant and Total
  machinery  
     
  £ £
Cost
At 1 January 2021 1,608 1,608
  ───────── ─────────
 
At 31 December 2021 1,608 1,608
  ───────── ─────────
Depreciation
At 1 January 2021 552 552
Charge for the financial year 322 322
  ───────── ─────────
At 31 December 2021 874 874
  ───────── ─────────
Net book value
At 31 December 2021 734 734
  ═════════ ═════════
At 31 December 2020 1,056 1,056
  ═════════ ═════════
       
7. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
At 1 January 2021 100 100
Additions 170,000 170,000
  ───────── ─────────
At 31 December 2021 170,100 170,100
  ───────── ─────────
Net book value
At 31 December 2021 170,100 170,100
  ═════════ ═════════
At 31 December 2020 100 100
  ═════════ ═════════
       
8. Debtors 2021 2020
  £ £
 
Trade debtors 239,677 164,774
Amounts owed by group undertakings - 292
Prepayments and accrued income - 8,220
  ───────── ─────────
  239,677 173,286
  ═════════ ═════════
       
9. Creditors 2021 2020
Amounts falling due within one year £ £
 
Trade creditors 136,461 73,329
Amounts owed to group undertakings 823,437 403,629
Taxation  (Note 10) 11,589 37,808
Accruals 4,378 8,210
  ───────── ─────────
  975,865 522,976
  ═════════ ═════════
       
10. Taxation 2021 2020
  £ £
 
Creditors:
VAT 2,948 31,938
PAYE / NI 8,641 5,870
  ───────── ─────────
  11,589 37,808
  ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2021.
   
12. Contingent liabilities
 
Commitment fees have been received. These fees are non-refundable except in the case of a breach of contract  by the company during the project implementation.
           
13. Related party transactions
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.
   
14. Parent company
 
The company regards Simply Blue Holdings Limited as its parent company.
 
   
15. Controlling interest
 
Sam Roch-Perks is considered a person with significant control by viture of his indirect shareholding in Simply Blue Holdings Limited.
   
16. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.