Relate AccountsProduction v2.2.22 v2.2.22 2018-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is to develop and operate a wave energy farm for the generation of electricity. 14 November 2019 0 0 09404079 2019-03-31 09404079 2018-03-31 09404079 2017-03-31 09404079 2018-04-01 2019-03-31 09404079 2017-04-01 2018-03-31 09404079 uk-bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 09404079 uk-bus:FullAccounts 2018-04-01 2019-03-31 09404079 uk-bus:Director1 2018-04-01 2019-03-31 09404079 uk-bus:CompanySecretaryDirector1 2018-04-01 2019-03-31 09404079 uk-bus:Director3 2018-04-01 2019-03-31 09404079 uk-bus:CompanySecretary1 2018-04-01 2019-03-31 09404079 uk-bus:RegisteredOffice 2018-04-01 2019-03-31 09404079 uk-bus:Agent1 2018-04-01 2019-03-31 09404079 uk-core:ShareCapital 2019-03-31 09404079 uk-core:ShareCapital 2018-03-31 09404079 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 09404079 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 09404079 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2019-03-31 09404079 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2018-03-31 09404079 uk-bus:FRS102 2018-04-01 2019-03-31 09404079 uk-core:IntangibleAssetsOtherThanGoodwill 2018-03-31 09404079 uk-core:IntangibleAssetsOtherThanGoodwill 2019-03-31 09404079 uk-core:CurrentFinancialInstruments 2019-03-31 09404079 uk-core:CurrentFinancialInstruments 2018-03-31 09404079 uk-core:CurrentFinancialInstruments 2019-03-31 09404079 uk-core:CurrentFinancialInstruments 2018-03-31 09404079 uk-core:WithinOneYear 2019-03-31 09404079 uk-core:WithinOneYear 2018-03-31 09404079 uk-core:ParentEntities 2018-04-01 2019-03-31 09404079 uk-core:UltimateParent 2018-04-01 2019-03-31 09404079 uk-countries:Ireland 2018-04-01 2019-03-31 09404079 uk-bus:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Number: 09404079
 
 
Simply Blue Energy (Wave Hub) Limited
 
Directors' Report and Unaudited Financial Statements
 
for the year ended 31 March 2019
Simply Blue Energy (Wave Hub) Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Sam Roch-Perks
Hugh Kelly
Ronan Costello (Resigned 4 June 2018)
 
 
Company Secretary Hugh Kelly
 
 
Company Number 09404079
 
 
Registered Office and Business Address Unit 6a  Penstraze Business Centre
Cornwall
TR4 8PN
 
 
Accountants Thos. Goodall & Son
Link House
Boreenmanna Road
Cork
Republic of Ireland
 
 
Bankers Bank of Ireland
  PO Box 2386
  Dublin 1
  Ireland



Simply Blue Energy (Wave Hub) Limited
DIRECTORS' REPORT
for the year ended 31 March 2019

 
The directors present their report and the unaudited financial statements for the year ended 31 March 2019.
 
Principal Activity
The principal activity of the company is to develop and operate a wave energy farm for the generation of electricity.
     
Results and Dividends
The loss for the year after providing for depreciation amounted to £(8,637) (2018 - £(81,288)).
     
Directors
The directors who served during the year are as follows:
     
Sam Roch-Perks
Hugh Kelly
Ronan Costello (Resigned 4 June 2018)
   
     
There were no changes in shareholdings between 31 March 2019 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current year.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are 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 directors are 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 directors are 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 are 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
     
     
___________________________
Sam Roch-Perks
Director
     
14 November 2019



Simply Blue Energy (Wave Hub) Limited
PROFIT AND LOSS ACCOUNT
for the year ended 31 March 2019
2019 2018
Notes £ £

 
Administrative expenses (8,637) (81,288)
───────── ─────────
Loss before taxation (8,637) (81,288)
 
Tax on loss - -
───────── ─────────
Loss for the year (8,637) (81,288)
───────── ─────────
Total comprehensive income (8,637) (81,288)
    ═════════   ═════════



Simply Blue Energy (Wave Hub) Limited
Company Number: 09404079
BALANCE SHEET
as at 31 March 2019

2019 2018
Notes £ £
 
Current Assets
Debtors 6 12,464 11,099
Cash and cash equivalents 506 506
───────── ─────────
12,970 11,605
───────── ─────────
Creditors: Amounts falling due within one year 7 (139,763) (129,761)
───────── ─────────
Net Current Liabilities (126,793) (118,156)
───────── ─────────
Total Assets less Current Liabilities (126,793) (118,156)
═════════ ═════════
Capital and Reserves
Called up share capital 1 1
Profit and Loss Account (126,794) (118,157)
───────── ─────────
Equity attributable to owners of the company (126,793) (118,156)
═════════ ═════════
 
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).
           
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge 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 Board and authorised for issue on 14 November 2019 and signed on its behalf by
           
           
________________________________          
Sam Roch-Perks          
Director          



Simply Blue Energy (Wave Hub) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2019

   
1. GENERAL INFORMATION
 
Simply Blue Energy (Wave Hub) Limited is a company limited by shares incorporated in United Kingdom. Unit 6a  Penstraze Business Centre, Cornwall, TR4 8PN 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 Sterling (£) which is also the functional currency of the company.
         
2. 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 31 March 2019 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. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
 
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.
 
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 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.
 
Licences
Licences are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 3 years.
 
Share capital of the company
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. GOING CONCERN
 
The financial statements have been prepared on the going concern basis. The directors believe this is appropriate for the following reasons:
- The company continues to enjoy the support of other group companies and its ultimate parent company, Swirish International Limited.
- The company continues to enjoy the support of Sam Roch-Perks, its ultimate controlling party.
       
4. EMPLOYEES
 
The average monthly number of employees, including directors, during the year was 0, (2018 - 0).
       
5. INTANGIBLE FIXED ASSETS
  Licences  
    Total
  £ £
Cost
At 1 April 2018 50,000 50,000
  ───────── ─────────
 
At 31 March 2019 50,000 50,000
  ───────── ─────────
Amortisation
 
At 31 March 2019 50,000 50,000
  ───────── ─────────
Net book value
At 31 March 2019 - -
  ═════════ ═════════
       
6. DEBTORS 2019 2018
  £ £
 
Amounts owed by group companies 1 1
Taxation  (Note 8) 12,463 11,098
  ───────── ─────────
  12,464 11,099
  ═════════ ═════════
       
7. CREDITORS 2019 2018
Amounts falling due within one year £ £
 
Trade creditors - 3,398
Amounts owed to group companies 138,123 125,543
Accruals 1,640 820
  ───────── ─────────
  139,763 129,761
  ═════════ ═════════
       
8. TAXATION 2019 2018
  £ £
 
Debtors:
VAT 12,463 11,098
  ═════════ ═════════
       
9. CAPITAL COMMITMENTS
 
The company had no material capital commitments at the year-ended 31 March 2019.
           
10. RELATED PARTY TRANSACTIONS
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.
   
11. PARENT AND ULTIMATE PARENT COMPANY
 
The company regards Simply Blue Energy Wind Limited as its parent company.
 
The companys ultimate parent undertaking is Swirish International Limited.
 
   
12. CONTROLLING INTEREST
 
Sam Roch-Perks is considered the ultimate controlling party by virtue of his shareholding in Swirish International Limited.
   
13. POST-BALANCE SHEET EVENTS
 
There have been no significant events affecting the company since the year-end.