BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company consists of oyster farming. 19 March 2025 16 12 NI613022 2024-06-30 NI613022 2023-06-30 NI613022 2022-06-30 NI613022 2023-07-01 2024-06-30 NI613022 2022-07-01 2023-06-30 NI613022 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI613022 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI613022 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI613022 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI613022 uk-bus:CompanySecretaryDirector1 2023-07-01 2024-06-30 NI613022 uk-bus:Director2 2023-07-01 2024-06-30 NI613022 uk-bus:CompanySecretary1 2023-07-01 2024-06-30 NI613022 uk-bus:RegisteredOffice 2023-07-01 2024-06-30 NI613022 uk-bus:Agent1 2023-07-01 2024-06-30 NI613022 uk-core:ShareCapital 2024-06-30 NI613022 uk-core:ShareCapital 2023-06-30 NI613022 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI613022 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI613022 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI613022 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI613022 uk-bus:FRS102 2023-07-01 2024-06-30 NI613022 uk-core:LandBuildings 2023-07-01 2024-06-30 NI613022 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI613022 uk-bus:Audited 2023-07-01 2024-06-30 NI613022 uk-core:IntangibleAssetsOtherThanGoodwill 2023-06-30 NI613022 uk-core:IntangibleAssetsOtherThanGoodwill 2024-06-30 NI613022 uk-core:CurrentFinancialInstruments 2024-06-30 NI613022 uk-core:CurrentFinancialInstruments 2023-06-30 NI613022 uk-core:CurrentFinancialInstruments 2024-06-30 NI613022 uk-core:CurrentFinancialInstruments 2023-06-30 NI613022 uk-core:WithinOneYear 2024-06-30 NI613022 uk-core:WithinOneYear 2023-06-30 NI613022 uk-core:OtherMiscellaneousReserve 2023-06-30 NI613022 uk-core:OtherMiscellaneousReserve 2023-07-01 2024-06-30 NI613022 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI613022 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI613022 uk-core:OtherDeferredTax 2024-06-30 NI613022 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-06-30 NI613022 uk-core:OtherMiscellaneousReserve 2024-06-30 NI613022 uk-core:ParentEntities 2023-07-01 2024-06-30 NI613022 uk-core:UltimateParent 2023-07-01 2024-06-30 NI613022 uk-countries:France 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI613022
 
 
Greencastle Oysters Limited
 
Financial Statements
 
for the financial year ended 30 June 2024
Greencastle Oysters Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Thierry Gillardeau
Laurent Vedrenne
 
 
Company Secretary Thierry Gillardeau
 
 
Company Registration Number NI613022
 
 
Registered Office 27A Fair Road
Kilkeel
Greencastle
 
 
Business Address 27A Fair Road
Kilkeel
Greencastle
United Kingdom
 
 
Independent Auditors Omni Office Services Limited
Chartered Certified Accountants and Statutory Auditors
24 Shandon Street
Dungarvan
Co. Waterford
 
 
Bankers Bank of Ireland
  Dungarvan,
  Co. Waterford.
   
   
  BNP Paribas
  10 Harewood Avenue
  London NW1 6AA
 
   
Solicitors McDowell Purcell
  The Capel Building
  Mary's Abbey
  Dublin 7



Greencastle Oysters Limited
Company Registration Number: NI613022
BALANCE SHEET
as at 30 June 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 7 547,622 408,340
───────── ─────────
 
Current Assets
Stocks 8 607,535 544,295
Debtors 9 252,502 244,207
Cash and cash equivalents 61,169 75,088
───────── ─────────
921,206 863,590
───────── ─────────
Creditors: amounts falling due within one year 10 (921,250) (670,170)
───────── ─────────
Net Current (Liabilities)/Assets (44) 193,420
───────── ─────────
Total Assets less Current Liabilities 547,578 601,760
 
Provisions for liabilities 12 (83,646) -
───────── ─────────
Net Assets 463,932 601,760
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 463,832 601,660
───────── ─────────
Equity attributable to owners of the company 463,932 601,760
═════════ ═════════
 
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).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
Approved by the Board and authorised for issue on 19 March 2025 and signed on its behalf by
           
           
________________________________          
Thierry Gillardeau          
Director          
           
           
________________________________
Laurent Vedrenne
Director
           



Greencastle Oysters Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Greencastle Oysters Limited is a company limited by shares incorporated in Northern Ireland. (Companies House Number NI613022) 27A Fair Road, Kilkeel, Greencastle is the registered office, 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 (£) 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 30 June 2024 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 is recognised to the extent that the company obtains the right to consideration in exchange for its performance.   Turnover comprises the fair value of consideration received and receivable exclusive of value added tax and after discounts and rebates.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from the provision of services is recognised in the accounting period in which the services are rendered and the outcome of the contract can be estimated reliably.  The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.
 
Intangible assets
 
Shellfish Licence & Crown Lease
Shellfish Licence & Crown Lease are valued at cost less accumulated amortisation.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. Cost is based on the invoiced cost, net of VAT. 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:
 
  Land and buildings freehold - 2% Straight Line
  Fixtures, fittings and equipment - 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.
 
Stocks
The company’s biological assets comprises of oysters and are measured at cost less any accumulated impairment losses. Cost comprises the purchase price of oyster unit together with an apportionment of overheads incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for mortality of stock units.
 
Trade and other debtors
Trade and other debtors including amounts owed from group companies are recognised initially at transaction price (including transaction costs) unless a financing arrangement exists in which case they are measured at the present value of future receipts discounted at a market rate.  Subsequently these are measured at amortised cost less any provision for impairment.  A provision for 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 receivables.  The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate.  All movements in the level of the provision required are recognised in the profit and loss.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Creditors and accruals are classified as current liabilities if payment is due within one year or less.  If not, they are presented as non-current liabilities.  Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

As permitted by the amendment made to FRS 102 Section 11 for small entities by the FRC on 8 May 2017 amounts due from directors and shareholders of the entity are stated initially at the transaction price and subsequently at transaction price less repayments. The amortised cost model is not used.
 
Related parties
For the purposes of these financial statements a party is considered to be related to the company if:
 
- the party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company;
- the company and the party are subject to common control;
- the party is an associate of the company or forms part of a joint venture with the company;
- the party is a member of key management personnel of the company or the company's parent, or a close family member of such as an individual, or is an entity under the control, joint control or significant influence of such individuals;
- the party is a close family member of a party referred to above or is an entity under the control or significant influence of such individuals; or
- the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.
 
Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the company.
 
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. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by Omni Office Services Limited.
The Auditor's Report was signed by David F. O Mahoney (Senior Statutory Auditor) for and on behalf of Omni Office Services Limited on 19th March 2025.
 
   
4. Provisions Available for Audits of Small Entities
 
In common with many other businesses of our size and nature, we use our auditors to prepare and submit tax returns to Her Majesty's Revenue and Customs and to assist with the preparation of the financial statements.
       
5. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Oyster farm operative 16 12
  ═════════ ═════════
     
6. Intangible assets
  Shellfish Licence
  & Crown Lease
  £
Cost
At 1 July 2023 377,264
  ─────────
 
At 30 June 2024 377,264
  ─────────
Amortisation
 
At 30 June 2024 377,264
  ─────────
Net book value
At 30 June 2024 -
  ═════════
         
7. Tangible assets
  Land and Fixtures, Total
  buildings fittings and  
  freehold equipment  
  £ £ £
Cost or Valuation
At 1 July 2023 137,539 1,034,847 1,172,386
Additions - 294,903 294,903
  ───────── ───────── ─────────
At 30 June 2024 137,539 1,329,750 1,467,289
  ───────── ───────── ─────────
Depreciation
At 1 July 2023 27,406 736,640 764,046
Charge for the financial year 2,751 152,870 155,621
  ───────── ───────── ─────────
At 30 June 2024 30,157 889,510 919,667
  ───────── ───────── ─────────
Net book value
At 30 June 2024 107,382 440,240 547,622
  ═════════ ═════════ ═════════
At 30 June 2023 110,133 298,207 408,340
  ═════════ ═════════ ═════════
       
8. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 607,535 544,295
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
9. Debtors 2024 2023
  £ £
 
Trade debtors 192,943 170,791
Amounts owed by group undertakings (Note 14) 53,418 56,400
Taxation  (Note 11) 3,974 15,516
Prepayments and accrued income 2,167 1,500
  ───────── ─────────
  252,502 244,207
  ═════════ ═════════
       
10. Creditors 2024 2023
Amounts falling due within one year £ £
 
Payments received on account 7,334 44,397
Trade creditors 149,588 103,677
Amounts owed to group undertakings (Note 14) 740,648 478,052
Taxation  (Note 11) 8,509 23,506
Accruals 15,171 20,538
  ───────── ─────────
  921,250 670,170
  ═════════ ═════════
       
11. Taxation 2024 2023
  £ £
 
Debtors:
VAT 3,974 15,516
  ═════════ ═════════
Creditors:
Corporation tax - 16,102
PAYE / NI 8,509 7,404
  ───────── ─────────
  8,509 23,506
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start - - -
Charged to profit and loss 83,646 83,646 -
  ───────── ───────── ─────────
At financial year end 83,646 83,646 -
  ═════════ ═════════ ═════════
   
13. Contingent liabilities
 
There are no contingent liabilities at the year end.
           
14. Related party transactions
 
Transactions with related parties were as follows:
 
Selection Gillardeau is a company incorporated in France. Thierry Gillardeau is also a director of Selection Gillardeau.

During the year the company sold goods to the value of £150,394 to Selection Gillardeau
 
In the opinion of the directors these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the terms ordinarily offered by the company.
         
Transactions and balances with group companies:
 
    2024 2023
    £ £
 
Compagnie Financiere Gillardeau
 
During the year the company purchased goods and services to the value of £127,945 from Compagnie Financiere Gillardeau.

The company has also received a working capital loan from CFG. CFG charges interest at a rate of 4.07% in respect of this loan, which is repayable on demand.
 
Amount (owed to) Compagnie Financiere Gillardeau   (199,296) (118,043)
    ═════════ ═════════
 
PKA Ltd.
 
During the year the company sold goods to the value of £135,715 to PKA Ltd.

During the year the company purchased goods to the value of £31,094 from PKA Ltd.

The company has also received a working capital loan from PKA. This loan is non-interest bearing and is repayable on demand.
 
Amount (owed to) PKA Ltd.   (440,067) (284,008)
    ═════════ ═════════
 
PKC Oysters Ltd
 
During the year the company sold goods to the value of £44,237 to PKC Oysters Ltd
 
PKO Oysters Ltd.
 
During the year the company sold goods to the value of £121,531 to PKO Oysters Ltd
 
BC Shellfish Ltd
 
During the year the company purchased goods to the value of £81,793 from BC Shellfish Ltd
 
Amount (owed to) BC Shellfish Ltd   (74,849) (44,883)
    ═════════ ═════════
 
Production Huitres Gillardeau
 
During the year the company sold goods to the value of £87,600 to  Production Huitres Gillardeau.

 
PKM Oysters Ltd.
 
During the year the company sold goods to the value of £20,434 to PKM Oysters Ltd
 
Amount due from PKM Oysters Ltd.   20,434 54,304
    ═════════ ═════════
 
Speciales Gillardeau
 
No trading transactions during the year.
 
Amount (owed to) Speciales Gillardeau   - (2,194)
    ═════════ ═════════
 
Keenan Oysters Ltd
 
During the year the company sold goods to the value of £106,438 to Keenan Oysters Ltd.

 
Amount due from/(owed to) Keenan Oysters Ltd   6,548 (26,828)
    ═════════ ═════════
   
15. Parent and ultimate parent company
 
The company regards Sarl Compagnie Financiere Gillardeau as its parent company.
 
The companys ultimate parent undertaking is Compagnie Financiere Gillardeau Sarl.
The address of Compagnie Financiere Gillardeau Sarl is BP70 France.
Compagnie Financiere Gillardeau Sarl is regarded as both the controlling party and the ultimate controlling party.
 
The parent of the largest group in which the results are consolidated is Compagnie Financiere Gillardeau.
Compagnie Financiere Gillardeau is registered in France.
 
   
16. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.