Company Registration No. 11111043 (England and Wales)
The (Global) Future Forest Company Ltd
Unaudited financial statements
for the year ended 31 March 2024
Pages for filing with the registrar
The (Global) Future Forest Company Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 11
The (Global) Future Forest Company Ltd
Statement of financial position
As at 31 March 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
69,507
23,838
Tangible assets
4
354,226
390,466
Biological assets
5
55,950
89,301
479,683
503,605
Current assets
Stocks
12,138
45,000
Debtors
6
4,480,401
3,016,688
Cash at bank and in hand
684,404
422,988
5,176,943
3,484,676
Creditors: amounts falling due within one year
7
(3,209,695)
(612,108)
Net current assets
1,967,248
2,872,568
Total assets less current liabilities
2,446,931
3,376,173
Creditors: amounts falling due after more than one year
8
(81,318)
-
0
Net assets
2,365,613
3,376,173
Capital and reserves
Called up share capital
2
2
Share premium account
125
125
Other reserves
10,095,865
10,055,866
Profit and loss reserves
(7,730,379)
(6,679,820)
Total equity
2,365,613
3,376,173
The (Global) Future Forest Company Ltd
Statement of financial position (continued)
As at 31 March 2024
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 March 2024 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.

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.

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 17 June 2025 and are signed on its behalf by:
Gillian Chapple
Director
Company Registration No. 11111043
The (Global) Future Forest Company Ltd
Notes to the financial statements
For the year ended 31 March 2024
3
1
Accounting policies
Company information

The (Global) Future Forest Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, Silverstream House, 45 Fitzroy Street, Fitzrovia, London, W1T 6EB.

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 amounts 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
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website & software
3 years straight line
The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
4
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land
nil
Leasehold improvements
5 years straight line
Plant and equipment
5 years straight line
Computers
3 years straight line
Motor vehicles
5 years straight line
Fencing and livestock equipment
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Biological assets

Biological assets are recognised only when three recognition criteria have been fulfilled:

Where the company opts to measure a biological asset under the fair value model on initial recognition it must carry the asset at fair value at each reporting date. Changes in fair value less costs to sell are recognised in profit or loss.

Biological assets consist cattle, sheep and pigs which are held at fair value and are not depreciated.
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
5

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
6
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
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.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
7
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.17
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
31
The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
8
3
Intangible fixed assets
Website & software
£
Cost
At 1 April 2023
40,556
Additions
59,187
At 31 March 2024
99,743
Amortisation and impairment
At 1 April 2023
16,718
Amortisation charged for the year
13,518
At 31 March 2024
30,236
Carrying amount
At 31 March 2024
69,507
At 31 March 2023
23,838
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
318,455
155,951
474,406
Additions
26,087
2,700
28,787
Disposals
-
0
(3,000)
(3,000)
At 31 March 2024
344,542
155,651
500,193
Depreciation and impairment
At 1 April 2023
21,235
62,705
83,940
Depreciation charged in the year
26,930
37,047
63,977
Eliminated in respect of disposals
-
0
(1,950)
(1,950)
At 31 March 2024
48,165
97,802
145,967
Carrying amount
At 31 March 2024
296,377
57,849
354,226
At 31 March 2023
297,220
93,246
390,466
The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
9
5
Biological assets
Woodlands
Livestock
Total
£
£
£
Cost
At 1 April 2023
15,100
74,201
89,301
Additions - purchases and breeding
-
0
13,750
13,750
Disposals
-
0
(45,110)
(45,110)
Revaluation
-
0
(1,991)
(1,991)
At 31 March 2024
15,100
40,850
55,950
Depreciation and impairment
At 1 April 2023 and 31 March 2024
-
0
-
-
Carrying amount
At 31 March 2024
15,100
40,850
55,950
At 31 March 2023
15,100
74,201
89,301
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
246,426
182,824
Corporation tax recoverable
827,601
480,922
Other debtors
1,267,681
779,463
2,341,708
1,443,209
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
2,138,693
1,573,479
Total debtors
4,480,401
3,016,688

Included in 'Other debtors' is a provision of £116,710 against the HMRC VAT debtor. This is in relation to an ongoing HMRC enquiry which the company is appealing.

The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
10
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
382,038
63,523
Corporation tax
682,002
362,516
Other taxation and social security
26,427
24,486
Other creditors
2,119,228
161,583
3,209,695
612,108

Included in 'Other creditors' is a balance of £1.3m which was converted into equity after the balance sheet date.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
81,318
-
0
9
Capital commitments

Amounts contracted for but not provided in the financial statements:

2024
2023
£
£
Acquisition of tangible fixed assets
16,541,569
17,656,883

The company has entered into agreements with a number of LLPs to purchase land at a future date, until which time the company will manage the land on behalf of the LLPs. The company manages the land for the LLPs and as part of the agreement pays the LLPs an annual payment of 10% of the land value at the cost the LLPs paid to acquire the land. The point of land purchase the company has an agreement to purchase the land for the cost that the LLPs incurred for acquiring the land. These put call options are estimated to be triggered over the coming years. The total capital commitment disclosed includes the 10% annual payments plus the full cost of the land should the company and LLPs agree to the put call options.

The (Global) Future Forest Company Ltd
Notes to the financial statements (continued)
For the year ended 31 March 2024
11
10
Share based payment transactions

The entity operated a Company Share Option Plan (CSOP) and an Unapproved Share Option Plan during the year to reward staff, Directors and certain advisors for their services to the entity. Vesting conditions are between 12 and 48 months and all arrangements are equity settled.

The number and weighted average exercise prices of share options are as follows:

Weighted average
exercise price
Number of options
2024
2023
2024
2023
£
£
Outstanding at the beginning of the year
0.000001
0.042100
284,842
418,727
Granted during the year
0.010000
0.000001
2,283,427
33,850
Exercised during the year
0.000001
0.000001
-
(167,735)
Outstanding at the end of the year
0.010000
0.000001
2,568,269
284,842
Exercisable at the end of the year
0.008940
0.000460
284,842
284,842
The fair value of employee share options is measured using a Black Scholes model. This model is deemed appropriate for the size of the entity and scale of the arrangements in question.

The expected volatility is based on the historic volatility adjusted for any expected changes to future volatility due to publicly available information.

The total expenses recognised for the year and the total liabilities recognised at the end of the year arising from share-based payments are as follows:
2024
2023
£
£
Total share-based payment expense
39,999
(181,554)
Total carrying amount of liabilities
83,497
43,498
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
8,843
17,016
2024-03-312023-04-01false17 June 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityJames MannChristopher MairsJade ReinPaul ForsterMark EvansDavid ElliottAdrian LloydGillian ChappleJonathan Cratonfalsefalse111110432023-04-012024-03-31111110432024-03-31111110432023-03-3111111043core:IntangibleAssetsOtherThanGoodwill2024-03-3111111043core:IntangibleAssetsOtherThanGoodwill2023-03-3111111043core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3111111043core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111111043core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3111111043core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111111043core:CurrentFinancialInstruments2024-03-3111111043core:CurrentFinancialInstruments2023-03-3111111043core:ShareCapital2024-03-3111111043core:ShareCapital2023-03-3111111043core:SharePremium2024-03-3111111043core:SharePremium2023-03-3111111043core:OtherMiscellaneousReserve2024-03-3111111043core:OtherMiscellaneousReserve2023-03-3111111043core:RetainedEarningsAccumulatedLosses2024-03-3111111043core:RetainedEarningsAccumulatedLosses2023-03-3111111043bus:Director82023-04-012024-03-3111111043core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111111043core:ComputerSoftware2023-04-012024-03-3111111043core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3111111043core:LeaseholdImprovements2023-04-012024-03-3111111043core:PlantMachinery2023-04-012024-03-3111111043core:ComputerEquipment2023-04-012024-03-3111111043core:MotorVehicles2023-04-012024-03-3111111043core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-04-012024-03-31111110432022-04-012023-03-3111111043core:IntangibleAssetsOtherThanGoodwill2023-03-3111111043core:LandBuildings2023-03-3111111043core:LandBuildings2024-03-3111111043core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2023-03-3111111043core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2024-03-3111111043core:LandBuildings2023-04-012024-03-3111111043core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2023-04-012024-03-3111111043core:LandBuildings2023-03-3111111043core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2023-03-3111111043core:WithinOneYear2024-03-3111111043core:WithinOneYear2023-03-3111111043core:AfterOneYear2024-03-3111111043core:AfterOneYear2023-03-3111111043core:Non-currentFinancialInstruments2024-03-3111111043core:Non-currentFinancialInstruments2023-03-3111111043bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111111043bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111111043bus:FRS1022023-04-012024-03-3111111043bus:AuditExemptWithAccountantsReport2023-04-012024-03-3111111043bus:Director12023-04-012024-03-3111111043bus:Director22023-04-012024-03-3111111043bus:Director32023-04-012024-03-3111111043bus:Director42023-04-012024-03-3111111043bus:Director52023-04-012024-03-3111111043bus:Director62023-04-012024-03-3111111043bus:Director72023-04-012024-03-3111111043bus:Director92023-04-012024-03-3111111043bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP