IRIS Accounts Production v22.2.0.402 07985672 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure079856722023-03-31079856722024-03-31079856722023-04-012024-03-31079856722022-03-31079856722022-04-012023-03-31079856722023-03-3107985672ns16:EnglandWales2023-04-012024-03-3107985672ns15:PoundSterling2023-04-012024-03-3107985672ns11:Director12023-04-012024-03-3107985672ns11:PrivateLimitedCompanyLtd2023-04-012024-03-3107985672ns11:SmallEntities2023-04-012024-03-3107985672ns11:AuditExempt-NoAccountantsReport2023-04-012024-03-3107985672ns11:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107985672ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107985672ns11:FullAccounts2023-04-012024-03-3107985672ns11:Director22023-04-012024-03-3107985672ns11:Director32023-04-012024-03-3107985672ns11:RegisteredOffice2023-04-012024-03-3107985672ns6:CurrentFinancialInstruments2024-03-3107985672ns6:CurrentFinancialInstruments2023-03-3107985672ns6:ShareCapital2024-03-3107985672ns6:ShareCapital2023-03-3107985672ns6:RetainedEarningsAccumulatedLosses2024-03-3107985672ns6:RetainedEarningsAccumulatedLosses2023-03-3107985672ns6:LandBuildings2023-03-3107985672ns6:LandBuildings2023-04-012024-03-3107985672ns6:LandBuildings2024-03-3107985672ns6:LandBuildings2023-03-3107985672ns6:CostValuation2023-03-3107985672ns6:RevaluationsIncreaseDecreaseInInvestments2024-03-3107985672ns6:CostValuation2024-03-3107985672ns6:WithinOneYearns6:CurrentFinancialInstruments2024-03-3107985672ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 07985672 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

BLACKMEAD FORESTRY III LIMITED

BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLACKMEAD FORESTRY III LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







Directors: Pinecroft Corporate Services Limted
J Elsworth
R J Kelly





Registered office: The Shard
c/o Foresight Group LLP
32 London Bridge Street
London
SE1 9SG





Registered number: 07985672 (England and Wales)






BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £ £
Fixed assets
Tangible assets 4 22,128,391 20,629,088
Investments held at fair value
through profit or loss 5 6,790,452 6,339,393
28,918,843 26,968,481

Current assets
Debtors 6 392,651 394,649
Cash at bank 61,065 139,887
453,716 534,536
Creditors
Amounts falling due within one year 7 (32,817,911 ) (28,568,382 )
Net current liabilities (32,364,195 ) (28,033,846 )
Total assets less current liabilities (3,445,352 ) (1,065,365 )

Capital and reserves
Called up share capital 1 1
Retained earnings (3,445,353 ) (1,065,366 )
(3,445,352 ) (1,065,365 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 8 November 2024 and were signed on its behalf by:



J Elsworth - Director


BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. Statutory information

Blackmead Forestry III Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year 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 year 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.

Interest receivable and other income
Other income such as interest receivable on loan notes is included on an accruals basis.

Investments held at fair value through profit or loss
Investments held by the Company have been valued in accordance with the International Private Equity and Venture Capital (IPEVC) valuation guidelines (December 2018) developed by the British Venture Capital Association and other organisations. Through these guidelines, investments are valued as defined at 'fair value'.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. Tangible fixed assets
Land and
buildings
£
Cost or valuation
At 1 April 2023 20,654,384
Additions 3,242,221
Revaluations (1,719,682 )
At 31 March 2024 22,176,923
Depreciation
At 1 April 2023 25,296
Charge for year 23,236
At 31 March 2024 48,532
Net book value
At 31 March 2024 22,128,391
At 31 March 2023 20,629,088

Cost or valuation at 31 March 2024 is represented by:

Land and
buildings
£
Valuation in 2023 2,462
Valuation in 2024 (1,719,682 )
Cost 23,894,143
22,176,923

5. Investments held at fair value
through profit or loss

31.3.24 31.3.23
£ £
Shares in group undertakings 5,954,254 5,503,195
Loans to group undertakings 836,198 836,198
6,790,452 6,339,393

BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. Investments held at fair value through profit or loss - continued

Additional information is as follows:
Shares in
group
undertakings
£
Cost or valuation
At 1 April 2023 5,503,195
Revaluations 451,059
At 31 March 2024 5,954,254
Net book value
At 31 March 2024 5,954,254
At 31 March 2023 5,503,195

Cost or valuation at 31 March 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£ £ £
Valuation in 2018 - - (494,519 )
Valuation in 2019 - - (145,428 )
Valuation in 2020 - - (45,859 )
Valuation in 2021 - - (20,974 )
Valuation in 2022 - - 706,780
Valuation in 2024 451,059 - 451,059
Cost 5,503,195 - 5,503,195
5,954,254 - 5,954,254
Loans to
group
undertakings
£
At 1 April 2023
and 31 March 2024 836,198

6. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 1,500 953
Other debtors 391,151 393,696
392,651 394,649

BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade creditors 44,112 142,474
Amounts owed to group undertakings 32,310,545 28,383,133
Taxation and social security 376 -
Other creditors 462,878 42,775
32,817,911 28,568,382

8. Ultimate controlling party

In the opinion of the directors, the immediate parent company is Blackmead Infrastructure Limited, with the ultimate controlling party being Averon Park Limited.