Simply Blue Energy (OSW 2 UK) Limited iXBRL

Simply Blue Energy (OSW 2 UK) Limited

Director's Report and Unaudited Financial Statements

for the financial year ended 31 December 2024

Simply Blue Energy (OSW 2 UK) Limited

DIRECTOR AND OTHER INFORMATION


Directors	Hugh Kelly
	Christopher Harwood (Resigned 29 August 2025)
	Adrian David de Andres Gutierrez (Resigned 27 August 2024)


Company Secretary	Desmond Quigley


Company Registration Number	14070951


Registered Office and Business Address	Chi An Lorell Sector 2
	Aerohub Business Park
	St. Mawgan
	TR8 4RZ
	England


Accountants	Thos. Goodall & Son
	Chartered Certified Accountants
	Link House
	Boreenmanna Road
	Cork

Simply Blue Energy (OSW 2 UK) Limited

DIRECTOR'S REPORT

for the financial year ended 31 December 2024

The director presents their report and the unaudited financial statements for the financial year ended 31 December 2024.

Principal Activity

The principal activity of the company is that of a holding company.

Directors

The directors who served during the financial year are as follows:

Hugh Kelly

Christopher Harwood (Resigned 29 August 2025)

Adrian David de Andres Gutierrez (Resigned 27 August 2024)

There were no changes in shareholdings between 31 December 2024 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 Director's Responsibilities

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless they is 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 director is 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 director is 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 is 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

___________________________

Hugh Kelly

Director

29 September 2025

Simply Blue Energy (OSW 2 UK) Limited

PROFIT AND LOSS ACCOUNT

for the financial year ended 31 December 2024

	2024	2023
Notes	£	£

Turnover		-	192,566
		─────────	─────────
Gross profit		-	192,566

Administrative expenses		(101,092)	(3,899,854)
		─────────	─────────
Operating loss		(101,092)	(3,707,288)

Amount written off investments	3	(1,768,995)	-
		─────────	─────────
Loss before taxation		(1,870,087)	(3,707,288)

Tax on loss	5	-	-
		─────────	─────────
Loss for the financial year		(1,870,087)	(3,707,288)
		─────────	─────────
Total comprehensive income		(1,870,087)	(3,707,288)
		═════════	═════════

Simply Blue Energy (OSW 2 UK) Limited

Company Registration Number: 14070951

BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	£	£

Fixed Assets

Investments

11,161

1,780,156

─────────

Current Assets

Debtors

873

505,939

Creditors: amounts falling due within one year

(4,000)

(4,402)

─────────

Net Current (Liabilities)/Assets

(3,127)

501,537

─────────

Total Assets less Current Liabilities

8,034

2,281,693

Creditors:

amounts falling due after more than one year

(5,589,385)

(5,992,957)

─────────

Net Liabilities

(5,581,351)

(3,711,264)

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

(5,581,451)

(3,711,364)

─────────

Equity attributable to owners of the company

(5,581,351)

(3,711,264)

═════════

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 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms 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 director acknowledges 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 Director and authorised for issue on 29 September 2025



________________________________
Hugh Kelly
Director

Simply Blue Energy (OSW 2 UK) Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 December 2024

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 January 2023	100	(4,076)	(3,976)
	─────────	─────────	─────────
Loss for the financial year	-	(3,707,288)	(3,707,288)
	─────────	─────────	─────────
At 31 December 2023	100	(3,711,364)	(3,711,264)
	─────────	─────────	─────────
Loss for the financial year	-	(1,870,087)	(1,870,087)
	─────────	─────────	─────────
At 31 December 2024	100	(5,581,451)	(5,581,351)
	═════════	═════════	═════════

Simply Blue Energy (OSW 2 UK) Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

Simply Blue Energy (OSW 2 UK) Limited is a company limited by shares incorporated and registered in England. The registered number of the company is 14070951. The registered office of the company is Chi An Lorell Sector 2, Aerohub Business Park, St. Mawgan, TR8 4RZ, England which is also the principal place of business of the company. The principal activity of the company is that of a holding company. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

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 financial year ended 31 December 2024 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 Statement of Cash Flows 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.

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 financial year in which it is receivable.

Investments are assessed for indicators of impairment at each balance sheet date or more regularly if there is objective evidence of impairment. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss in the period.

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.	Amount written off investments	2024	2023
		£	£

	Amounts written off fixed assets investments:
	- permanent diminution in value	1,768,995	-
		═════════	═════════

Employees

The average monthly number of employees, including director, during the financial year was 0, (2023 - 0).


5.	Tax on loss
		2024	2023
		£	£
	Analysis of charge in the financial year

	Current tax:
	Corporation tax	-	-
		═════════	═════════

	No charge to tax arises due to tax losses incurred.


6.	Investments
		Group and	Total
		participating
		interests/
		joint ventures
	Investments	£	£
	Cost

	At 31 December 2024	1,780,156	1,780,156
		─────────	─────────
	Provision for
	diminution in value:
	Charge	1,768,995	1,768,995
		─────────	─────────
	At 31 December 2024	1,768,995	1,768,995
		─────────	─────────
	Net book value
	At 31 December 2024	11,161	11,161
		═════════	═════════
	At 31 December 2023	1,780,156	1,780,156
		═════════	═════════


7.	Debtors	2024	2023
		£	£

	Amounts owed by group undertakings	-	505,796
	Taxation (Note 10)	873	143
		─────────	─────────
		873	505,939
		═════════	═════════


8.	Creditors	2024	2023
	Amounts falling due within one year	£	£

	Other creditors	-	69
	Accruals	4,000	4,333
		─────────	─────────
		4,000	4,402
		═════════	═════════


9.	Creditors	2024	2023
	Amounts falling due after more than one year	£	£

	Other loans	5,589,385	5,992,957
		═════════	═════════


10.	Taxation	2024	2023
		£	£

	Debtors:
	VAT	873	143
		═════════	═════════

11.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 December 2024.

12.

Parent and ultimate parent company

The company regards Simply Blue Energy (OSW) Limited as its parent company.

The companys ultimate parent undertaking is Simply Blue Holdings Limited.

The address of Simply Blue Holdings Limited is Woodbine Hill Youghal Co. Cork Ireland.

13.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.