Blue Gentoo Ltd

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the directors on the preparation of the unaudited statutory accounts of Blue Gentoo Ltd for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blue Gentoo Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Blue Gentoo Ltd , 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 Blue Gentoo Ltd and state those matters that we have agreed to state to the directors of Blue Gentoo Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Gentoo Ltd and its directors as a body for our work or for this report.

It is your duty to ensure that Blue Gentoo Ltd 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 or loss of Blue Gentoo Ltd . You consider that Blue Gentoo Ltd 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 Blue Gentoo Ltd . 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 financial statements.

22 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Blue Gentoo Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: SC567798

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		208,860		206,661
Tangible Assets	5		260		1,030
Investments In Associates	6		5,060		5,060

			214,180		212,751
CURRENT ASSETS
Debtors	7	5,479		1,957
Cash at bank and in hand		8,594		9,621

		14,073		11,578
Creditors: Amounts Falling Due Within One Year	8	(42,279 )		(47,358 )

NET CURRENT ASSETS (LIABILITIES)			(28,206 )		(35,780 )

TOTAL ASSETS LESS CURRENT LIABILITIES			185,974		176,971

Creditors: Amounts Falling Due After More Than One Year	9		(116,284 )		(155,093 )

NET ASSETS			69,690		21,878

CAPITAL AND RESERVES
Called up share capital			1,000		1,000
Share premium account			24,750		24,750
Profit and Loss Account			43,940		(3,872 )

SHAREHOLDERS' FUNDS			69,690		21,878

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Blue Gentoo Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Ms J Forbes

Director

22 September 2025

The notes on pages 4 to 7 form part of these financial statements.

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Blue Gentoo Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Blue Gentoo Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC567798 . The registered office is Brodies House, 31 - 33 Union Grove, Aberdeen, AB10 6SD.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences assets are being amortised to profit and loss account evenly over its estimated economic life of 10 years.

Development cost assets are being amortised to profit and loss account evenly over its estimated economic life of 10 years.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised evenly on a straight line basis over their expected useful economic lives of 10 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

33% on cost

2.6. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price

including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

...CONTINUED

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Blue Gentoo Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments - continued

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Intangible Assets

	Patents and licences	Development Costs	Total
	£	£	£
Cost
As at 1 January 2024	17,356	194,921	212,277
Additions	4,036	-	4,036

As at 31 December 2024	21,392	194,921	216,313

Amortisation
As at 1 January 2024	5,616	-	5,616
Provided during the period	1,837	-	1,837

As at 31 December 2024	7,453	-	7,453

Net Book Value
As at 31 December 2024	13,939	194,921	208,860

As at 1 January 2024	11,740	194,921	206,661

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Blue Gentoo Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	4,587

As at 31 December 2024	4,587

Depreciation
As at 1 January 2024	3,557
Provided during the period	770

As at 31 December 2024	4,327

Net Book Value
As at 31 December 2024	260

As at 1 January 2024	1,030

6. Investments In Associates

	Associates
	£
Cost
As at 1 January 2024	5,060

As at 31 December 2024	5,060

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	5,060

As at 1 January 2024	5,060

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	5,000	-
VAT	479	1,657
Amounts owed by associates	-	300

	5,479	1,957

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Blue Gentoo Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	11,800	16,948
Bank loans and overdrafts	1,157	1,128
Other loans	15,200	15,200
Accruals and deferred income	1,140	1,100
Government grants within one year	12,982	12,982

	42,279	47,358

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	1,099	2,256
Government grants after one year	32,455	45,437
Other loans 1-2 years	52,730	77,400
Other Loans 2-5 years	30,000	30,000

	116,284	155,093

10. Related Party Transactions

Ommica Limited is a company under common control of the directors.

As at the year end, a balance of £15,200 (2023: £15,200) was due to Ommica Limited.

11. Controlling Party

The company's controlling party is the directors by virtue of their ownership of 88% of the issued share capital in the company.

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