REGISTERED NUMBER: SC818729 (Scotland)

SEAQUREFARMING 1 LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD 7 AUGUST 2024 TO 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Graham

Ms R M Swanson

SECRETARY:

REGISTERED OFFICE:

24 - 26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

REGISTERED NUMBER:

SC818729 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Investments

4

2,259,400

CURRENT ASSETS

Debtors

5

1

NET CURRENT ASSETS

1

TOTAL ASSETS LESS CURRENT LIABILITIES

2,259,401

CREDITORS

Amounts falling due after more than one year

6

2,265,797

NET LIABILITIES

(6,396

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(6,397

)

(6,396

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2025 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.

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

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 21 June 2026 and were signed on its behalf by:

S Graham - Director

1.	STATUTORY INFORMATION

Seaqurefarming 1 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

2,259,400

At 31 December 2025

2,259,400

NET BOOK VALUE

At 31 December 2025

2,259,400

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Loch Alba Trout Ltd

Registered office: 24 - 26 Lewis Street, Stornoway, Isle of Lewis, HS1 2JF

Nature of business: Marine Aquaculture

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Amounts owed to group undertakings

2,265,797

7.	CONTINGENT LIABILITIES

The company has guaranteed the obligations of Loch Alba Group Ltd to Gael Force Group Holdings Ltd in respect of a £2,200,000 letter of credit facility. At 31 December 2025 the facility was fully drawn. The company has also granted a floating charge over all of its assets in favour of Gael Force Group Holdings Ltd as security for a £1,750,000 revolving loan facility provided to Loch Alba Group Ltd. The directors consider that no provision is required in respect of these arrangements.

8.	RELATED PARTY DISCLOSURES

Loch Alba Group Ltd is the company's immediate and ultimate parent undertaking. Gael Force Group Holdings Ltd is under common ownership with Loch Alba Group Ltd and is therefore a related party. The company has granted a floating charge over all of its assets in favour of Gael Force Group Holdings Ltd as security for a £1,750,000 revolving loan facility provided to Loch Alba Group Ltd and has provided a guarantee in respect of a £2,200,000 letter of credit facility provided to the company. No amounts are recognised in these financial statements in respect of these arrangements.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S Graham.