REGISTERED NUMBER: 09115686 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FS TOPE LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

Director:

M J Aitchison

H J Hansen

Registered office:

C/O Foresight Group LLP

The Shard

32 London Bridge Street

London

SE1 9SG

Registered number:

09115686 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

Principal activity

The Company acquired a commercial woodland in the year and therefore changing the principal activity to the ownership of commercial woodland fo the production and sale of timber..

Directors

Pinecroft Corporate Services Limited - resigned 10 December 2024

M J Aitchison and H J Hansen were appointed as directors after 31 March 2025 but prior to the date of this report.

J Elsworth , R O G Guest and Pinecroft Corporate Services Limited ceased to be directors after 31 March 2025 but prior to the date of this report.

Going concern

These accounts have been prepared on a going concern basis. The directors believe that this basis is appropriate following consideration of cash flow forecasts which show that the Company is able to meet its liabilities as they fall due.

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

12 December 2025

Turnover

-

-

Cost of sales

(46,168

)

(31,624

)

Gross loss

(46,168

)

(31,624

)

Administrative expenses

(8,350

)

(18,088

)

Operating loss

(54,518

)

(49,712

)

Gain/loss on revaluation of tangible assets

1,072,249

(141,660

)

Profit/(loss) before taxation

1,017,731

(191,372

)

Tax on profit/(loss)

4

-

-

Profit/(loss) for the financial year

1,017,731

(191,372

)

Fixed assets

Tangible assets

5

2,786,432

1,640,000

Current assets

Debtors

6

35,101

7,173

Prepayments and accrued income

170

170

Cash at bank

45,176

3,199

80,447

10,542

Creditors

Amounts falling due within one year

7

(2,003,075

)

(1,804,469

)

Net current liabilities

(1,922,628

)

(1,793,927

)

Total assets less current liabilities

863,804

(153,927

)

Reserves

Other reserves

3,616,157

3,616,157

Retained earnings

(2,752,353

)

(3,770,084

)

863,804

(153,927

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 12 December 2025 and were signed by:

J Elsworth - Director

1.	Statutory information

FS Tope 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.

Tangible fixed assets

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

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.

3.	Employees and directors

The average number of employees during the year was NIL (2024 - NIL).

4.

Taxation

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Reconciliation of total tax charge 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:

31.3.25

31.3.24

£

£

Profit/(loss) before tax

1,017,731

(191,372

)

Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

254,433

(47,843

)

Effects of:

Expenses not deductible for tax purposes

13,629

12,428

Income not taxable for tax purposes

(268,062

)

35,415

reliefs

Total tax charge

-

-

5.	Tangible fixed assets

Land and

buildings

£

Cost or valuation

At 1 April 2024

1,640,000

Additions

74,183

Revaluations

1,072,249

At 31 March 2025

2,786,432

Net book value

At 31 March 2025

2,786,432

At 31 March 2024

1,640,000

Cost or valuation at 31 March 2025 is represented by:

Land and

buildings

£

Valuation in 2023

90,000

Valuation in 2024

(141,660

)

Valuation in 2025

1,072,249

Cost

1,765,843

2,786,432

6.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Other debtors

35,101

7,173

7.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade creditors

-

4,114

Amounts owed to group undertakings

1,953,595

1,741,530

Taxation and social security

46,521

46,521

Other creditors

2,959

12,304

2,003,075

1,804,469

8.	Related party disclosures

FS Tope Limited is a wholly owned subsidiary of Blackmead Infrastructure Limited. As at 31 March 2024, Blackmead Infrastructure had loaned £1,910,490 to FS Tope Limited to acquire the forest. The loan is interest free for the first three years.

9.	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.