Company registration number SC587786 (Scotland)
WILDLAND INTERNATIONAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
WILDLAND INTERNATIONAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WILDLAND INTERNATIONAL LIMITED
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
4
49,449,884
37,217,695
Current assets
Debtors
5
1,785,935
-
0
Cash at bank and in hand
37,359
6,857
1,823,294
6,857
Creditors: amounts falling due within one year
6
(3,600)
(3,600)
Net current assets
1,819,694
3,257
Net assets
51,269,578
37,220,952
Capital and reserves
Called up share capital
7
2,200,000
2,100,000
Share premium account
8
87,001,473
71,368,990
Profit and loss reserves
9
(37,931,895)
(36,248,038)
Total equity
51,269,578
37,220,952

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

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

The financial statements were approved by the board of directors and authorised for issue on 15 December 2025 and are signed on its behalf by:
Ms L Kaae
Director
Company registration number SC587786 (Scotland)
WILDLAND INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 2 -
1
Accounting policies
Company information

Wildland International Limited is a private company limited by shares incorporated in Scotland. The registered office is 1st Floor, 2 Granish Way, Dalfaber Drive, Aviemore, Inverness-Shire, United Kingdom, PH22 1UQ.

1.1
Accounting convention

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 a mounts 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.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Dividend income from fixed asset investments is recognised in the profit and loss account when the entity's right to receive payment is established. This typically occurs when the dividend is declared by the investee and the shareholder's approval is obtained, if required.

Dividend income is included within “Other interest receivable and similar income” in the profit and loss account, unless it represents a return of capital, in which case it is deducted from the carrying amount of the investment.

The company recognises revenue from the following major sources:

- Dividends from investments in African companies

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities 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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WILDLAND INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
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.

Basic financial assets

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 classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. A m ounts 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.

1.7
Equity instruments

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.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

WILDLAND INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Impairment of Investments

Fixed asset investments are reviewed at each reporting date to determine whether there is any indication of impairment. An impairment loss is recognised when the carrying amount of an investment exceeds its recoverable amount. The recoverable amount is the higher of fair value less costs to sell and value in use.

If there is objective evidence that an investment is impaired, the carrying amount is reduced to its recoverable amount, and the impairment loss is recognised in the income statement. Indicators of impairment may include significant financial difficulty of the investee, a breach of contract, or a prolonged decline in the fair value of the investment below its carrying amount.

Impairment losses previously recognised may be reversed if the reasons for the impairment no longer exist. Reversals of impairment are recognised in the income statement and are limited to the original carrying amount before impairment.

3
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
49,449,884
37,217,695
WILDLAND INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 August 2024
40,268,584
Additions
12,891,186
At 31 July 2025
53,159,770
Impairment
At 1 August 2024
3,050,889
Impairment losses
658,997
At 31 July 2025
3,709,886
Carrying amount
At 31 July 2025
49,449,884
At 31 July 2024
37,217,695
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1,785,935
-
0
6
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
3,600
3,600
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2,200,000
2,100,000
2,200,000
2,100,000

100,000 Ordinary shares of £1 each were allotted and fully paid for cash of £157.32 per share during the year.

WILDLAND INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 6 -
8
Share premium account
2025
2024
£
£
At the beginning of the year
71,368,990
69,115,704
Issue of new shares
15,632,483
2,253,286
At the end of the year
87,001,473
71,368,990
9
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
(36,248,038)
(35,457,269)
Adjusted balance
(36,248,038)
(35,457,269)
Loss for the year
(1,683,857)
(790,769)
At the end of the year
(37,931,895)
(36,248,038)
10
Audit report information

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:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its loss for the year 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.

Senior Statutory Auditor:
Sally Cheeney
Statutory Auditor:
Azets Audit Services
Date of audit report:
15 December 2025
11
Parent company

Heartland A/S (incorporated in Denmark) is regarded by the director as being the company's ultimate parent company.

The ultimate controlling party is A H Povlsen.

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