REGISTERED NUMBER: 12602028 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2024 TO 31 MARCH 2025

FOR

COULL FORESTRY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

Directors:

M J Aitchison

H J Hansen

Registered office:

C/o Foresight Group Llp The Shard

32 London Bridge Street

London

SE1 9SG

Registered number:

12602028 (England and Wales)

The directors present their report with the financial statements of the company for the period 1 October 2024 to 31 March 2025.

Principal activity

The principal activity of the company continued to be that of the ownership of commercial woodland for the production and sale of timber.

Directors

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

R J Kelly and R O G Guest ceased to be directors after 31 March 2025 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 companies 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

22 December 2025

Turnover

-

-

Cost of sales

(24,220

)

(79,071

)

Gross loss

(24,220

)

(79,071

)

Administrative expenses

(10,097

)

(20,563

)

(34,317

)

(99,634

)

Gain/loss on revaluation of tangible assets

2,710,683

(1,625

)

Operating profit/(loss) and

Profit/(loss) before taxation

2,676,366

(101,259

)

Tax on profit/(loss)

4

-

-

Profit/(loss) for the financial period

2,676,366

(101,259

)

Fixed assets

Tangible assets

5

8,840,495

6,129,812

Current assets

Debtors

6

1,336

5,344

Creditors

Amounts falling due within one year

7

(3,922,426

)

(3,892,117

)

Net current liabilities

(3,921,090

)

(3,886,773

)

Total assets less current liabilities

4,919,405

2,243,039

Capital and reserves

Called up share capital

1

1

Retained earnings

4,919,404

2,243,038

Shareholders' funds

4,919,405

2,243,039

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 22 December 2025 and were signed on its behalf by:

H J Hansen - Director

1.	Statutory information

Coull Forestry 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.

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.

Tangible fixed assets

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

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

Taxation

Taxation for the period 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 period was NIL (2024 - NIL).

4.

Taxation

Analysis of the tax charge

No liability to UK corporation tax arose for the period ended 31 March 2025 nor for the year ended 30 September 2024.

Reconciliation of total tax charge included in profit and loss

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

Period

1.10.24

to

Year Ended

31.3.25

30.9.24

£

£

Profit/(loss) before tax

2,676,366

(101,259

)

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

669,092

(25,315

)

Effects of:

Expenses not deductible for tax purposes

8,579

25,315

Income not taxable for tax purposes

(677,671

)

-

Total tax charge

-

-

5.	Tangible fixed assets

Land and

buildings

£

Cost or valuation

At 1 October 2024

6,129,812

Revaluations

2,710,683

At 31 March 2025

8,840,495

Net book value

At 31 March 2025

8,840,495

At 30 September 2024

6,129,812

Cost or valuation at 31 March 2025 is represented by:

Land and

buildings

£

Valuation in 2022

2,184,242

Valuation in 2023

307,298

Valuation in 2024

(1,625

)

Valuation in 2025

2,710,683

Cost

3,639,897

8,840,495

6.

Debtors: amounts falling due within one year

31.3.25

30.9.24

£

£

Other debtors

1,336

5,344

7.

Creditors: amounts falling due within one year

31.3.25

30.9.24

£

£

Trade creditors

-

1

Amounts owed to group undertakings

3,922,426

3,892,116

3,922,426

3,892,117

8.	Ultimate controlling party

The company is a wholly owned subsidiary of Blackmead Forestry Limited

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