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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements report the results for the period from 01 October 2023 to 31 March 2025. The comparative period relates to the period from 10 March 2023 to 30 September 2023. The change in year end was made to align all group companies with the parent company's reporting period.

Preparation of consolidated financial statements

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company will continue to operate as a holding company for the foreseeable future as it has support of other companies within the group. In assessing whether the going concern assumption is appropriate management has taken into account that the company has net liabilities, however this will be remedied by the events after the reporting period detailed in note 10. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and amounts owed to group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Other operating income

Other operating income comprises management recharges of services and interest to subsidiaries, net of value added tax and other sales taxes. Other operating income is recognised in line with the timing of when services have been provided and interest costs incurred.

Other gains and losses

Other gains and losses relate to the discounting of basic financial liabilities to net present value at a market rate of interest.

Company information

Shaw Timber Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bridge Street, Slaithwaite, Huddersfield, HD7 5JN. The company's registered number is 14722149.

The average monthly number of persons (including directors) employed by the company during the period was:

Other creditors less than one year include deferred consideration of £500,000 (2023 - £500,000) and a post completion cash adjustment of £165,473 (2023 - £343,341).

The £500,000 (2023 - £500,000) deferred consideration is discounted at an implicit market interest rate to net present value of £479,961 (2023 - £454,243).

This gives an overall discounted value of £645,434 (2023 - £797,584) in other creditors. The actual amount payable in less than one year is £665,473 (2023 - £843,341).

Other creditors more than one year includes deferred consideration at a discounted value of £1,188,262 (2023 - £1,124,681). The amount payable in more than one year is £1,500,000 (2023 - £2,000,000).

Deferred consideration of £2,000,000 (2023 - £2,000,000) and a group company loan of £99,999 (2023 - £99,999) are secured by fixed and floating charges over the company's assets.

The company has also given a cross company guarantee on behalf of a fellow group company against an invoice discounting facility and a loan to the value of £875,000 (2023 - £1,250,000). Both are secured by a fixed and floating charge over the company's assets.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Following the period end there has been net financing gains of £1,168,223 relating to the reduction in the deferred consideration payable.

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.

OVM Holdings Limited, a company registered in England and Wales, is regarded by the director as being the company's ultimate parent company and prepares consolidated financial statements, copies of which can be obtained from Companies House. The registered office of OVM Holdings Limited is 19 Leyden Street, London, E1 7LE.

The ultimate controlling party is J K Wooster.