Company Registration No. SC366612 (Scotland)
Organic Sea Harvest Holdings Limited
Unaudited financial statements
for the year ended 31 December 2021
Pages for filing with the Registrar
Organic Sea Harvest Holdings Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
Organic Sea Harvest Holdings Limited
Statement of financial position
As at 31 December 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
15,845,437
9,090,085
Current assets
Debtors
4
22,722
4,673,287
Cash at bank and in hand
27,729
130,681
50,451
4,803,968
Creditors: amounts falling due within one year
5
(5,363,722)
(4,947,086)
Net current liabilities
(5,313,271)
(143,118)
Total assets less current liabilities
10,532,166
8,946,967
Creditors: amounts falling due after more than one year
6
(7,098,318)
(4,898,318)
Net assets
3,433,848
4,048,649
Capital and reserves
Called up share capital
7
200,001
200,001
Share premium account
3,974,819
3,974,819
Profit and loss reserves
(740,972)
(126,171)
Total equity
3,433,848
4,048,649
Organic Sea Harvest Holdings Limited
Statement of financial position (continued)
As at 31 December 2021
Page 2
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 July 2022 and are signed on its behalf by:
O Thu
Director
Company Registration No. SC366612
Organic Sea Harvest Holdings Limited
Statement of changes in equity
For the year ended 31 December 2021
Page 3
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2020
66,667
3,974,819
65,579
4,107,065
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
-
(191,750)
(191,750)
Issue of share capital
7
133,334
-
133,334
Balance at 31 December 2020
200,001
3,974,819
(126,171)
4,048,649
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
-
(614,801)
(614,801)
Balance at 31 December 2021
200,001
3,974,819
(740,972)
3,433,848
Organic Sea Harvest Holdings Limited
Notes to the financial statements
For the year ended 31 December 2021
Page 4
1
Accounting policies
Company information
Organic Sea Harvest Holdings Limited is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
c/o Saffery Champness LLP, Kintail House, Beechwood Park, Inverness, IV2 3BW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Fixed asset investments
Interests in subsidiarie
s
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
Organic Sea Harvest Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2021
1
Accounting policies (continued)
Page 5
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities, including
creditors and
loans from
related parties
, are
initially recognised at transaction
price
.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.8
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
Organic Sea Harvest Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2021
Page 6
2
Employees
The average monthly number of persons (excluding directors who are not remunerated) employed by the company during the year was:
2021
2020
Number
Number
Total
3
Fixed asset investments
2021
2020
£
£
Shares in group undertakings
15,845,437
9,090,085
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2021
9,090,085
Additions
6,755,352
At 31 December 2021
15,845,437
Carrying amount
At 31 December 2021
15,845,437
At 31 December 2020
9,090,085
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
1,050
260,299
Corporation tax recoverable
5,995
5,995
Amounts owed by group undertakings
15,677
4,405,308
Other debtors
1,685
22,722
4,673,287
Organic Sea Harvest Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2021
Page 7
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
15,000
248,401
Taxation and social security
180
Other creditors
5,348,542
4,698,685
5,363,722
4,947,086
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
7,098,318
4,898,318
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
66,667
66,667
66,667
66,667
Ordinary B shares of £1 each
66,667
66,667
66,667
66,667
Ordinary C shares of £1 each
66,667
66,667
66,667
66,667
200,001
200,001
200,001
200,001
2021-12-31
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false
02 August 2022
CCH Software
CCH Accounts Production 2022.100
No description of principal activity
Hugh Drever
Domenic Proporo
Ove Thu
Ernst Kruis
Tiemen Brouwer
H Drever
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