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REGISTERED NUMBER: SC340314 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

SCALE AQUACULTURE UK LIMITED

SCALE AQUACULTURE UK LIMITED (REGISTERED NUMBER: SC340314)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SCALE AQUACULTURE UK LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Foster
S I Sæther





REGISTERED OFFICE: Suite 411, Baltic Chambers
50 Wellington Street
Glasgow
G2 6HJ





REGISTERED NUMBER: SC340314 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ

SCALE AQUACULTURE UK LIMITED (REGISTERED NUMBER: SC340314)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 717,785 711,735

CURRENT ASSETS
Stocks 915,159 946,504
Debtors 1,535,785 1,324,695
Cash at bank 487,157 136,776
2,938,101 2,407,975
CREDITORS
Amounts falling due within one year 3,123,111 2,678,887
NET CURRENT LIABILITIES (185,010 ) (270,912 )
TOTAL ASSETS LESS CURRENT LIABILITIES 532,775 440,823

CREDITORS
Amounts falling due after more than one
year

328,153

-
NET ASSETS 204,622 440,823

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 10,000 10,000
Retained earnings 184,622 420,823
SHAREHOLDERS' FUNDS 204,622 440,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

SCALE AQUACULTURE UK LIMITED (REGISTERED NUMBER: SC340314)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 July 2024 and were signed on its behalf by:




C Foster - Director



S I Sæther - Director


SCALE AQUACULTURE UK LIMITED (REGISTERED NUMBER: SC340314)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Scale Aquaculture UK 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and Life of the lease

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SCALE AQUACULTURE UK LIMITED (REGISTERED NUMBER: SC340314)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Operating and finance leases
Scale Aquaculture UK Limited is the lessor for a number of operating and finance lease agreements.

Operating leases:

The assets involved are capitalised and depreciation charged. The rental income is recognised on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,281,338
Additions 397,475
Disposals (127,296 )
At 31 December 2023 1,551,517
DEPRECIATION
At 1 January 2023 569,603
Charge for year 323,240
Eliminated on disposal (59,111 )
At 31 December 2023 833,732
NET BOOK VALUE
At 31 December 2023 717,785
At 31 December 2022 711,735

5. RELATED PARTY DISCLOSURES

The immediate parent undertaking and controlling party is Scale Aquaculture AS, which prepares group
financial statements. The outstanding balance owed to the parent company is £3,062,552 (2023:
£2,353,378). Other monies owed to group members include Scale Group AS £6,513 and monies owed
by group members include Maskon AS £2,944.

No interest is charged on the outstanding loan.

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr G Witzoe and Mr G M Witzoe.