Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3139No description of principal activity2024-01-01false41falsetruefalse 07910966 2024-01-01 2024-12-31 07910966 2023-01-01 2023-12-31 07910966 2024-12-31 07910966 2023-12-31 07910966 2023-01-01 07910966 c:Director2 2024-01-01 2024-12-31 07910966 d:PlantMachinery 2024-01-01 2024-12-31 07910966 d:PlantMachinery 2024-12-31 07910966 d:PlantMachinery 2023-12-31 07910966 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07910966 d:MotorVehicles 2024-01-01 2024-12-31 07910966 d:MotorVehicles 2024-12-31 07910966 d:MotorVehicles 2023-12-31 07910966 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07910966 d:OfficeEquipment 2024-01-01 2024-12-31 07910966 d:OfficeEquipment 2024-12-31 07910966 d:OfficeEquipment 2023-12-31 07910966 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07910966 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07910966 d:Goodwill 2024-01-01 2024-12-31 07910966 d:Goodwill 2024-12-31 07910966 d:Goodwill 2023-12-31 07910966 d:ComputerSoftware 2024-12-31 07910966 d:ComputerSoftware 2023-12-31 07910966 d:CurrentFinancialInstruments 2024-12-31 07910966 d:CurrentFinancialInstruments 2023-12-31 07910966 d:Non-currentFinancialInstruments 2024-12-31 07910966 d:Non-currentFinancialInstruments 2023-12-31 07910966 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 07910966 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07910966 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 07910966 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07910966 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 07910966 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07910966 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 07910966 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 07910966 d:ShareCapital 2024-12-31 07910966 d:ShareCapital 2023-12-31 07910966 d:RetainedEarningsAccumulatedLosses 2024-12-31 07910966 d:RetainedEarningsAccumulatedLosses 2023-12-31 07910966 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07910966 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07910966 d:OtherDeferredTax 2024-12-31 07910966 d:OtherDeferredTax 2023-12-31 07910966 c:FRS102 2024-01-01 2024-12-31 07910966 c:Audited 2024-01-01 2024-12-31 07910966 c:FullAccounts 2024-01-01 2024-12-31 07910966 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07910966 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07910966 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 07910966 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 07910966 d:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 07910966 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 07910966 d:ComputerSoftware d:OwnedIntangibleAssets 2024-01-01 2024-12-31 07910966 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 07910966










F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
REGISTERED NUMBER: 07910966

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
82,550
100,588

Tangible assets
 6 
35,379
59,127

  
117,929
159,715

Current assets
  

Debtors: amounts falling due within one year
 7 
4,116,353
4,147,192

Cash at bank and in hand
  
962,702
856,809

  
5,079,055
5,004,001

Creditors: amounts falling due within one year
 8 
(1,884,924)
(1,839,941)

Net current assets
  
 
 
3,194,131
 
 
3,164,060

Total assets less current liabilities
  
3,312,060
3,323,775

Creditors: amounts falling due after more than one year
 9 
(6,035)
(15,132)

Provisions for liabilities
  

Deferred tax
 11 
(3,212)
(3,212)

Net assets
  
 
 
3,302,813
 
 
3,305,431


Capital and reserves
  

Called up share capital 
  
700,001
700,001

Profit and loss account
  
2,602,812
2,605,430

  
3,302,813
3,305,431


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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


C Dinwoodie
Director
Date: 7 July 2025

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

1.


General information

Fountains Forestry UK Limited is a private company limited by shares, incorporated in England and Wales under the Companies Act and domiciled in England (no. 07910966). The address of the registered office is Court Barn Highfield Farm, Clyst Road, Topsham, Exeter, EX3 0BY.
The principal activity of the company throughout the year continued to be that of the provision of forestry management service.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have reviewed financial forecasts, cash flow projections, and market trends, concluding that F&W Forestry UK Ltd has sufficient resources to meet its obligations and continue operations for the foreseeable future. Government policies and long-term land management strategies further strengthens the company’s commitment to sustainability, growth and profitability.
Accordingly, the financial statements have been prepared on a going concern basis, reflecting confidence in the company's continued success and ability to navigate industry challenges.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
3 - 5 years straight line
Motor vehicles
-
5 years straight line
Office equipment
-
5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 5

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Key sources of estimation uncertainty
The estimates and assumptions which have a heightened risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:
Useful lives of tangible fixed assets
The directors estimate the useful lives of tangible fixed assets based on the period over which the assets are expected to be available for use. When assessing the estimated useful lives of tangible fixed assets the directors have considered factors such as previous useful lives of similar assets, the age of the asset on purchase and the current condition of the asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 39 (2023 - 41).


5.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 January 2024
129,627
622,043
751,670


Additions
15,213
-
15,213



At 31 December 2024

144,840
622,043
766,883



Amortisation


At 1 January 2024
100,706
550,376
651,082


Charge for the year on owned assets
20,463
12,788
33,251



At 31 December 2024

121,169
563,164
684,333



Net book value



At 31 December 2024
23,671
58,879
82,550



At 31 December 2023
28,921
71,667
100,588



Page 6

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

6.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
10,295
14,370
128,684
153,349



At 31 December 2024

10,295
14,370
128,684
153,349



Depreciation


At 1 January 2024
2,832
9,551
81,839
94,222


Charge for the year on owned assets
468
2,874
20,406
23,748



At 31 December 2024

3,300
12,425
102,245
117,970



Net book value



At 31 December 2024
6,995
1,945
26,439
35,379



At 31 December 2023
7,463
4,819
46,845
59,127


7.


Debtors

2024
2023
£
£


Trade debtors
1,320,778
1,088,057

Amounts owed by group undertakings
2,209,186
2,245,085

Other debtors
157,607
73,767

Prepayments and accrued income
428,782
740,283

4,116,353
4,147,192


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Page 7

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,626
10,648

Trade creditors
696,779
589,116

Corporation tax
-
17,376

Other taxation and social security
166,928
122,232

Other creditors
918,834
965,319

Accruals and deferred income
92,757
135,250

1,884,924
1,839,941


Other creditors includes £799,117 (2023: £756,551) relating to client balances represented by cash held in a restricted client bank account and debtors.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,035
15,132

6,035
15,132


Page 8

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,626
10,648


9,626
10,648

Amounts falling due 1-2 years

Bank loans
6,035
10,648


6,035
10,648

Amounts falling due 2-5 years

Bank loans
-
4,484


-
4,484


15,661
25,780


The Company's bank loan is guaranteed by a secured debenture dated 12 October 2016, incorporating a fixed and floating charge over the Company's current and future assets.


11.


Deferred taxation




2024
2023


£

£






At beginning of year
(3,212)
(7,488)


Charged to profit or loss
-
4,276



At end of year
(3,212)
(3,212)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(12,542)
(12,542)

Short term timing differences
9,330
9,330

(3,212)
(3,212)

Page 9

 
F & W FORESTRY UK LIMITED (FORMERLY KNOWN AS FOUNTAINS FORESTRY UK LIMITED)
 

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

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.


13.


Related party transactions

The company has taken advantage of the exemption conferred by Financial Reporting Standard 102 "Related party disclosures" not to disclose transactions with members of the Group headed by F&W Forestry Services, Inc.


14.


Controlling party

The immediate and ultimate parent undertaking and controlling party is F&W Forestry Services, Inc. Copies of the financial statements of F&W Forestry Services, Inc are available from 1310 West Oakridge Drive, Albany, GA 31707.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 7 July 2025 by Susan Seaman BA FCA CIOT (Senior statutory auditor) on behalf of AAB Audit & Accountancy Limited.

Page 10