REGISTERED NUMBER: SC165633 (Scotland)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAUVETRAMP LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

Directors:

M J Aitchison

H J Hansen

Registered office:

C/o Foresight Group Llp Clarence House

133-135 George Street

Edinburgh

EH2 4JS

Registered number:

SC165633 (Scotland)

The directors present their report with the financial statements of the company for the year ended 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

12 December 2025

Turnover

-

-

Cost of sales

(3,940

)

(33,056

)

Gross loss

(3,940

)

(33,056

)

Administrative expenses

(15,237

)

(10,947

)

Operating loss and

Loss before taxation

(19,177

)

(44,003

)

Tax on loss

5

-

-

Loss for the financial year

(19,177

)

(44,003

)

Fixed assets

Tangible assets

6

11,693,172

6,790,000

Current assets

Debtors

7

47,940

27,530

Prepayments and accrued income

12,301

12,301

60,241

39,831

Creditors

Amounts falling due within one year

8

(1,010,181

)

(970,594

)

Net current liabilities

(949,940

)

(930,763

)

Total assets less current liabilities

10,743,232

5,859,237

Provisions for liabilities

(161,267

)

(161,267

)

Net assets

10,581,965

5,697,970

Capital and reserves

Called up share capital

390,000

390,000

Share premium

41,990

41,990

Fair value reserve

9

10,680,749

5,777,577

Retained earnings

(530,774

)

(511,597

)

Shareholders' funds

10,581,965

5,697,970

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 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 12 December 2025 and were signed on its behalf by:

H J Hansen - Director

1.	Statutory information

Mauvetramp Limited is a private company, limited by shares , registered in Scotland. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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:

Woodlands Not depreciated

Plant and Machinery 20% reducing balance

Woodlands are not depreciated but are reviewed by the directors for impairment at each balance sheet date and any adjustment is written off the profit and loss account.

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 and loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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 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 the 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 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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where am 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 and 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.

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.

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 balance sheet 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.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transactions costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	Employees and directors

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

4.	Operating loss

The operating loss is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Depreciation - owned assets

-

(1

)

5.

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 higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.25

31.3.24

£

£

Loss before tax

(19,177

)

(44,003

)

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

(4,794

)

(11,001

)

Effects of:

Expenses not deductible for tax purposes

4,794

10,789

Effects of group relief/other reliefs

-

212

Total tax charge

-

-

6.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost or valuation

At 1 April 2024

6,790,000

16,971

6,806,971

Revaluations

4,903,172

-

4,903,172

At 31 March 2025

11,693,172

16,971

11,710,143

Depreciation

At 1 April 2024

and 31 March 2025

-

16,971

16,971

Net book value

At 31 March 2025

11,693,172

-

11,693,172

At 31 March 2024

6,790,000

-

6,790,000

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

1,211,258

16,971

1,228,229

Valuation in 2018

3,158,742

-

3,158,742

Valuation in 2021

1,380,000

-

1,380,000

Valuation in 2022

746,000

-

746,000

Valuation in 2023

2,323,553

-

2,323,553

Valuation in 2024

(2,029,553

)

-

(2,029,553

)

Valuation in 2025

4,903,172

-

4,903,172

11,693,172

16,971

11,710,143

7.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Other debtors

47,940

27,530

8.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade creditors

1

1,745

Amounts owed to group undertakings

1,005,262

943,473

Taxation and social security

278

278

Other creditors

4,640

25,098

1,010,181

970,594

9.

Reserves

Fair value

reserve

£

At 1 April 2024

5,777,577

Revaluation of woodland

4,903,172

At 31 March 2025

10,680,749

10.	Ultimate controlling party

The company is a wholly owned subsidiary of Blackmead Forestry III Limited.

Averon Park Limited is the ultimate controlling party of the company.