IRIS Accounts Production v24.3.2.46 13905918 Board of Directors 1.10.23 30.9.24 30.9.24 The principal activity of the company is the ownership of commercial woodland for the production and sale of timber. 0 0 false true false false true false 0 0 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 13905918 2023-09-30 13905918 2024-09-30 13905918 2023-10-01 2024-09-30 13905918 2022-09-30 13905918 2022-10-01 2023-09-30 13905918 2023-09-30 13905918 ns15:EnglandWales 2023-10-01 2024-09-30 13905918 ns14:PoundSterling 2023-10-01 2024-09-30 13905918 ns10:Director1 2023-10-01 2024-09-30 13905918 ns10:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13905918 ns10:SmallEntities 2023-10-01 2024-09-30 13905918 ns10:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 13905918 ns10:SmallCompaniesRegimeForDirectorsReport 2023-10-01 2024-09-30 13905918 ns10:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13905918 ns10:FullAccounts 2023-10-01 2024-09-30 13905918 ns10:Director3 2023-10-01 2024-09-30 13905918 ns10:Director4 2023-10-01 2024-09-30 13905918 ns10:Director5 2023-10-01 2024-09-30 13905918 ns10:RegisteredOffice 2023-10-01 2024-09-30 13905918 ns10:Director2 2023-10-01 2024-09-30 13905918 ns5:CurrentFinancialInstruments 2024-09-30 13905918 ns5:CurrentFinancialInstruments 2023-09-30 13905918 ns5:ShareCapital 2024-09-30 13905918 ns5:ShareCapital 2023-09-30 13905918 ns5:RetainedEarningsAccumulatedLosses 2024-09-30 13905918 ns5:RetainedEarningsAccumulatedLosses 2023-09-30 13905918 ns5:OwnedAssets 2023-10-01 2024-09-30 13905918 ns5:OwnedAssets 2022-10-01 2023-09-30 13905918 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-09-30 13905918 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-09-30

REGISTERED NUMBER: 13905918 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FSFC COMPANY 1 LIMITED

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page |

Company Information | 1 |

Report of the Directors | 2 |

Income Statement | 3 |

Balance Sheet | 4 |

Notes to the Financial Statements | 5 |

FSFC COMPANY 1 LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2024

| Directors: | R O G Guest

| R J Kelly

| H J Hansen

| Y Rassam

| Registered office: | The Shard C/o Foresight Group

| 32 London Bridge Street

| London

| SE1 9SG

| Registered number: | 13905918 (England and Wales)

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

Directors

The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

R O G Guest

R J Kelly

Other changes in directors holding office are as follows:

H J Hansen and Y Rassam were appointed as directors after 30 September 2024 but prior to the date of this report.

J Elsworth ceased to be a director after 30 September 2024 but prior to the date of this report.

Going Concern

The Directors have a reasonable expectation that the company has adequate resources to be in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the annual report and accounts.

Small company exemption

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by Section 414B of the Companies Act 2006 not to provide a Strategic Report

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

H J Hansen - Director

13 November 2025

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

INCOME STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

30.9.24 | 30.9.23 |

| Notes | £ | £

Turnover | 1,802,828 |  | 133,856 |  |

Cost of sales | (1,801,288 | ) | (414,095 | ) |

Gross profit/(loss) | 1,540 |  | (280,239 | ) |

Administrative expenses | (368,280 | ) | (340,558 | ) |

(366,740 | ) | (620,797 | ) |

Gain/loss on revaluation of tangible assets | 3,227,929 |  | (585,976 | ) |

Operating profit/(loss) | 4 | 2,861,189 |  | (1,206,773 | ) |

Interest payable and similar expenses | (1,827,076 | ) | (1,125,271 | ) |

Profit/(loss) before taxation | 1,034,113 |  | (2,332,044 | ) |

Tax on profit/(loss) | 5 | - |  | 43,390 |  |

Profit/(loss) for the financial year | 1,034,113 |  | (2,288,654 | ) |

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

BALANCE SHEET

30 SEPTEMBER 2024

30.9.24 | 30.9.23 |

| Notes | £ | £

Fixed assets

Tangible assets | 6 | 65,235,198 |  | 59,369,552 |  |

Current assets

Debtors | 7 | 878,608 |  | 45,728 |  |

Prepayments and accrued income | 131,737 |  | 123,818 |  |

Cash at bank | 308,623 |  | 1,760,243 |  |

1,318,968 |  | 1,929,789 |  |

Creditors

Amounts falling due within one year | 8 | (26,210,853 | ) | (23,837,641 | ) |

Net current liabilities | (24,891,885 | ) | (21,907,852 | ) |

Total assets less current liabilities | 40,343,313 |  | 37,461,700 |  |

Capital and reserves

Called up share capital | 40,322,737 |  | 38,475,237 |  |

Retained earnings | 20,576 |  | (1,013,537 | ) |

40,343,313 |  | 37,461,700 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 13 November 2025 and were signed on its behalf by:

H J Hansen - Director

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. | Statutory information

| Fsfc Company 1 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

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

| Depreciation is recognised as to write off the cost of their useful lives on the following basis:

| Land, woodland and buildings - Not depreciated

| Legal Fees - 2.5% straight line

| Land, woodland and buildings are not depreciated but reviewed by the directors at each balance sheet date and any adjustment is written off through the profit and loss account.

| 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.

3. | Employees and directors

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

4. | Operating profit/(loss)

| The operating profit (2023 - operating loss) is stated after charging:

30.9.24 | 30.9.23 |

| £ | £

| Depreciation - owned assets | 82,060 |  | 64,851 |  |

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. | Taxation

| Analysis of the tax credit

| The tax credit on the profit for the year was as follows:

30.9.24 | 30.9.23 |

| £ | £

| Deferred tax | - |  | (43,390 | ) |

| Tax on profit/(loss) | - |  | (43,390 | ) |

| Reconciliation of total tax credit included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.24 | 30.9.23 |

| £ | £

| Profit/(loss) before tax | 1,034,113 |  | (2,332,044 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%) | 258,528 |  | (583,011 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 990,894 |  | 615,285 |  |

| Income not taxable for tax purposes | (1,251,624 | ) | (27,558 | ) |

| Adjustments to tax charge in respect of previous periods | - |  | (43,390 | ) |

| Deferred tax not provided | 2,202 |  | (4,716 | ) |

| Total tax credit | - |  | (43,390 | ) |

6. | Tangible fixed assets

|  | Land |  | Acquisition costs |  | Total |  |

| Cost |  | £ |  | £ |  | £ |  |

| As at 30/09/2023 |  | 56,190,143 |  | 3,252,169 |  | 59,442,312 |  |

| Additions in the year |  | 3,186,618 |  | 49,440 |  | 3,236,058 |  |

| Disposals |  | (500,000) |  | - |  | (500,000) |  |

| Revaluations |  | 3,211,648 |  | - |  | 3,211,648 |  |

| Total cost |  | 62,088,409 |  | 3,301,609 |  | 65,390,018 |  |

| Depreciation |  |

| As at 30/09/2023 |  | - |  | (72,760) |  | (72,760 |  |

| Charge for the year |  | - |  | (82,060) |  | (82,060) |  |

|  | - |  | (154,820) |  | (154,820) |  |

| Net Book Value |  |

| At 30 September 2024 |  | 62,088,409 |  | 3,146,789 |  | 65,235,198 |  |

FSFC COMPANY 1 LIMITED (REGISTERED NUMBER: 13905918)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. | Tangible fixed assets - continued

| Cost or valuation at 30 September 2024 is represented by:

Land and |

buildings |

| £

| Valuation in 2022 | 1,501,467 |  |

| Valuation in 2023 | (585,976 | ) |

| Valuation in 2024 | 3,211,648 |  |

| Cost | 61,262,879 |  |

65,390,018 |  |

7. | Debtors: amounts falling due within one year |

30.9.24 | 30.9.23 |

| £ | £

| Trade debtors | 713,936 |  | 9,360 |  |

| Other debtors | 164,672 |  | 36,368 |  |

878,608 |  | 45,728 |  |

8. | Creditors: amounts falling due within one year |

30.9.24 | 30.9.23 |

| £ | £

| Trade creditors | 103,259 |  | 52,153 |  |

| Amounts owed to group undertakings | 24,665,779 |  | 23,268,599 |  |

| Other creditors | 1,441,815 |  | 516,889 |  |

26,210,853 |  | 23,837,641 |  |

9. | Ultimate controlling party

| The company is a wholly owned subsidiary of FSFC Holdings 2 Limited

| Foresight Natural Capital Limited is the ultimate controlling party of the company