Sanda Island Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: SC374073

		31 December 2025		31 March 2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,550,633		2,550,633

			2,550,633		2,550,633
CURRENT ASSETS
Stocks	5	49,320		47,950
Debtors	6	1,316		1,869
Cash at bank and in hand		29,267		697

		79,903		50,516
Creditors: Amounts Falling Due Within One Year	7	(45,409 )		(2,146 )

NET CURRENT ASSETS (LIABILITIES)			34,494		48,370

TOTAL ASSETS LESS CURRENT LIABILITIES			2,585,127		2,599,003

Creditors: Amounts Falling Due After More Than One Year	8		(3,800,000 )		(3,800,000 )

NET LIABILITIES			(1,214,873 )		(1,200,997 )

CAPITAL AND RESERVES
Called up share capital	9		1,000		1,000
Revaluation reserve			5,394		5,394
Income Statement			(1,221,267 )		(1,207,391 )

SHAREHOLDERS' FUNDS			(1,214,873)		(1,200,997)

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Sanda Island Limited

Statement of Financial Position (continued)

As At 31 December 2025

For the period ending 31 December 2025 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 Income Statement.

On behalf of the board

Mr Piotr Kamil Kapinos

Director

7 August 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Sanda Island Limited is a private company, limited by shares, incorporated in Scotland, registered number SC374073 . The registered office is 1st Floor Admiralty Park, Admiralty Road, Rosyth, Fife, Scotland, KY11 2YW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.

The company has changed its accounting reference date. Accordingly, these financial statements cover the period from 1 April 2025 to 31 December 2025. The comparative figures cover the year ended 31 March 2025 and are therefore not entirely comparable.

2.2. Going Concern Disclosure

At the reporting date the company had net current assets of £34,494 but net liabilities of £1,214,873, principally reflecting the long-term loan of £3,800,000 owed to the parent undertaking, Mowi Scotland Limited.

The directors are satisfied that the company has adequate resources to meet its liabilities as they fall due for at least 12 months from the date when the financial statements are authorised for issue, having:

secured the continued financial support of the parent undertaking, which has confirmed that it will not seek repayment of the amounts owed to it for at least 12 months from the date when the financial statements are authorised for issue, and will provide such further support as is necessary;
noted that repayment of the long-term balance owed to the parent undertaking is not expected within one year of the reporting date; and
considered the recoverability and liquidity of the company's fixed assets.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Freehold	Not Depreciated
Plant & Machinery	Fully Depreciated
Fixtures & Fittings	Fully Depreciated

2.5. Stocks and Work in Progress

Stock comprises livestock held in the ordinary course of the company’s activities. Stock is stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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Sanda Island Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2025 to 31 December 2025

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL (2025: NIL)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2025	2,550,633	310,829	46,118	2,907,580
Disposals	-	(17,500 )	-	(17,500 )

As at 31 December 2025	2,550,633	293,329	46,118	2,890,080

Depreciation
As at 1 April 2025	-	310,829	46,118	356,947
Disposals	-	(17,500 )	-	(17,500 )

As at 31 December 2025	-	293,329	46,118	339,447

Net Book Value
As at 31 December 2025	2,550,633	-	-	2,550,633

As at 1 April 2025	2,550,633	-	-	2,550,633

5. Stocks

	31 December 2025	31 March 2025
	£	£
Stock	49,320	47,950

6. Debtors

	31 December 2025	31 March 2025
	£	£
Due within one year
Trade debtors	-	943
Prepayments and accrued income	1,256	866
Other debtors	60	60

	1,316	1,869

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Sanda Island Limited

Notes to the Financial Statements (continued)

For the Period 1 April 2025 to 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	31 March 2025
	£	£
Trade creditors	1,463	304
VAT	469	342
Accruals and deferred income	4,800	1,500
Amounts owed to parent undertaking	38,677	-

	45,409	2,146

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

	31 December 2025	31 March 2025
	£	£
Amounts owed to parent undertaking	3,800,000	3,800,000

9. Share Capital

	31 December 2025	31 March 2025
	£	£
Allotted, Called up and fully paid	1,000	1,000

10. Related Party Disclosures

At 31 March 2026, amounts due to the parent undertaking, Mowi Scotland Ltd, comprised a long-term balance of £3,800,000 (2025: £3,800,000) and a short-term balance of £38,677 (2025: £nil).

The balances are unsecured, interest-free and repayable on demand, although repayment is not expected within one year of the reporting date for the long-term balance.

11. Controlling Parties

The company is a wholly owned subsidiary of Mowi Scotland Limited, a private limited company incorporated in Scotland with its registered office at 1st Floor Admiralty Park, Admiralty Road, Rosyth, Fife, KY11 2YW.

The company's ultimate parent undertaking is Mowi Holdings ASA, a public limited company registered in Norway and listed on the Oslo Stock Exchange. The company results are included in the consolidated accounts of the ultimate parent undertaking, which are publicly available.

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