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 company’s principal activity is the development of the technology for a floating offshore wind farm. 31 March 2022 0 0 10892586 2021-12-31 10892586 2020-12-31 10892586 2019-12-31 10892586 2021-01-01 2021-12-31 10892586 2020-01-01 2020-12-31 10892586 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10892586 uk-bus:FullAccounts 2021-01-01 2021-12-31 10892586 uk-bus:Director1 2021-01-01 2021-12-31 10892586 uk-bus:CompanySecretaryDirector1 2021-01-01 2021-12-31 10892586 uk-bus:CompanySecretary1 2021-01-01 2021-12-31 10892586 uk-bus:RegisteredOffice 2021-01-01 2021-12-31 10892586 uk-bus:Agent1 2021-01-01 2021-12-31 10892586 uk-core:ShareCapital 2021-12-31 10892586 uk-core:ShareCapital 2020-12-31 10892586 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 10892586 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 10892586 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-12-31 10892586 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2020-12-31 10892586 uk-bus:FRS102 2021-01-01 2021-12-31 10892586 uk-core:PlantMachinery 2021-01-01 2021-12-31 10892586 uk-core:FurnitureFittingsToolsEquipment 2021-01-01 2021-12-31 10892586 uk-core:CostValuation 2021-12-31 10892586 uk-core:CurrentFinancialInstruments 2021-12-31 10892586 uk-core:CurrentFinancialInstruments 2020-12-31 10892586 uk-core:CurrentFinancialInstruments 2021-12-31 10892586 uk-core:CurrentFinancialInstruments 2020-12-31 10892586 uk-core:WithinOneYear 2021-12-31 10892586 uk-core:WithinOneYear 2020-12-31 10892586 uk-core:ParentEntities 2021-01-01 2021-12-31 10892586 uk-countries:Ireland 2021-01-01 2021-12-31 10892586 uk-bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 10892586
 
 
Simply Blue Energy Wind Limited
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2021
Simply Blue Energy Wind Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Sam Roch Perks
Hugh Kelly
 
 
Company Secretary Hugh Kelly
 
 
Company Registration Number 10892586
 
 
Registered Office and Business Address Chi An Lorell, Sector 2
Aerohub Business Park
St Mawgan Newquay
TR8 4RZ
 
 
Accountants Thos Goodall & Son
Link House
Boreenmanna Road
Cork
Republic of Ireland



Simply Blue Energy Wind 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.
     
Directors
The directors who served during the financial year are as follows:
     
Sam Roch Perks
Hugh Kelly
   
There were no changes in shareholdings between 31 December 2021 and the date of signing the financial statements.
     
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" Section 1A (Small Entities). 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 Energy Wind Limited
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 December 2021
2021 2020
Notes £ £

Turnover 737,672 967,234
───────── ─────────
Gross profit 737,672 967,234
 
Administrative expenses (731,429) (552,384)
───────── ─────────
Operating profit 6,243 414,850
 
Interest payable and similar expenses (879) -
───────── ─────────
Profit before taxation 5,364 414,850
 
Tax on profit - -
───────── ─────────
Profit for the financial year 5,364 414,850
───────── ─────────
Total comprehensive income 5,364 414,850
    ═════════   ═════════



Simply Blue Energy Wind Limited
Company Registration Number: 10892586
BALANCE SHEET
as at 31 December 2021

2021 2020
Notes £ £
 
Fixed Assets
Tangible assets 5 3,517 3,311
Investments 6 40 40
───────── ─────────
3,557 3,351
───────── ─────────
 
Current Assets
Debtors 7 17,469,825 16,464,754
Cash and cash equivalents 32,921 198,812
───────── ─────────
17,502,746 16,663,566
───────── ─────────
Creditors: amounts falling due within one year 8 (1,984,330) (1,113,258)
───────── ─────────
Net Current Assets 15,518,416 15,550,308
───────── ─────────
Total Assets less Current Liabilities 15,521,973 15,553,659
 
Creditors:
amounts falling due after more than one year 9 (3,656,328) (3,693,378)
───────── ─────────
Net Assets 11,865,645 11,860,281
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 11,865,545 11,860,181
───────── ─────────
Equity attributable to owners of the company 11,865,645 11,860,281
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
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 Energy Wind Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2021

   
1. General Information
 
Simply Blue Energy Wind Limited is a company limited by shares incorporated in the United Kingdom. The registered office of the company is Chi An Lorell, Sector 2, Aerohub Business Park, St Mawgan Newquay, TR8 4RZ which is also the principal place of business of the company. The company’s principal activity is the development of the technology for a floating offshore wind farm. 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 provisions of FRS 102 Section 1A (Small Entities) and 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.
 
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
  Fixtures, fittings and equipment - 10% 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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by 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 5, (2020 - 2).
         
5. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost
At 1 January 2021 4,498 345 4,843
Additions 297 1,003 1,300
  ───────── ───────── ─────────
At 31 December 2021 4,795 1,348 6,143
  ───────── ───────── ─────────
Depreciation
At 1 January 2021 1,506 26 1,532
Charge for the financial year 959 135 1,094
  ───────── ───────── ─────────
At 31 December 2021 2,465 161 2,626
  ───────── ───────── ─────────
Net book value
At 31 December 2021 2,330 1,187 3,517
  ═════════ ═════════ ═════════
At 31 December 2020 2,992 319 3,311
  ═════════ ═════════ ═════════
       
6. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 December 2021 40 40
  ───────── ─────────
Net book value
At 31 December 2021 40 40
  ═════════ ═════════
At 31 December 2020 40 40
  ═════════ ═════════
       
7. Debtors 2021 2020
  £ £
 
Trade debtors - 138,624
Amounts owed by group undertakings 2,257,472 1,107,714
Amounts owed by related parties (120) (120)
Other debtors 15,210,000 15,210,000
Taxation  (Note 10) 9 -
Prepayments and accrued income 2,464 8,536
  ───────── ─────────
  17,469,825 16,464,754
  ═════════ ═════════
       
8. Creditors 2021 2020
Amounts falling due within one year £ £
 
Trade creditors 686,416 588,316
Amounts owed to group undertakings 893,633 428,404
Taxation  (Note 10) - 74,922
Accruals 404,281 21,616
  ───────── ─────────
  1,984,330 1,113,258
  ═════════ ═════════
       
9. Creditors 2021 2020
Amounts falling due after more than one year £ £
 
Accrued expenditure 3,656,328 3,693,378
  ═════════ ═════════
 
       
10. Taxation 2021 2020
  £ £
 
Debtors:
VAT 9 -
  ═════════ ═════════
Creditors:
VAT - 63,832
PAYE / NI - 11,090
  ───────── ─────────
  - 74,922
  ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2021.
           
12. Related party transactions
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.
 
      2021 2020
      £ £
 
Finance amounts owed to related parties     120 120
      ═════════ ═════════
   
13. Parent company
 
The company regards Simply Blue Energy (FOW) Limited as its parent company.
 
   
14. Controlling interest
 
Sam Roch-Perks is considered a person with significant control by virtue of his indirect shareholding in Simply Blue Holdings Ltd.
   
15. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.