REGISTERED NUMBER: SC692554 (Scotland)

Pulse Forestry Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L Pan

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC692554 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Bank of Scotland

The Mound

Edinburgh

EH1 1YZ

FIXED ASSETS

Tangible assets

4

53,641

53,361

Investment property

5

184,630

184,630

238,271

237,991

CURRENT ASSETS

Stocks

7,110

-

Debtors

6

475

14,005

Cash at bank

12,176

57,209

19,761

71,214

CREDITORS

Amounts falling due within one year

7

249,948

270,271

NET CURRENT LIABILITIES

(230,187

)

(199,057

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,084

38,934

PROVISIONS FOR LIABILITIES

-

56

NET ASSETS

8,084

38,878

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7,984

38,778

8,084

38,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2026 and were signed by:

Ms L Pan - Director

1.	STATUTORY INFORMATION

Pulse Forestry Ltd 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is 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.

Turnover and revenue recognition

Revenue represents rental income and sales of goods exclusive of value added tax. Rental income is recognised based on rent due in accordance with the respective rent agreements. Sales of goods are recognised at the point when goods are delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Investment property

Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

55,167

Additions

575

At 31 March 2026

55,742

DEPRECIATION

At 1 April 2025

1,806

Charge for year

295

At 31 March 2026

2,101

NET BOOK VALUE

At 31 March 2026

53,641

At 31 March 2025

53,361

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

184,630

NET BOOK VALUE

At 31 March 2026

184,630

At 31 March 2025

184,630

Included in fair value of investment property is freehold land of £ 184,630 (2025 - £ 184,630 ) which is not depreciated.

The investment property was valued on an open market basis by the director, who is not a professional valuer, on 31 March 2026. In the opinion of the director, the fair value of the property as at 31 March 2026 is not materially different from the cost value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

-

10,596

Other debtors

475

3,409

475

14,005

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

61,181

53,066

Taxation and social security

-

617

Other creditors

188,767

216,588

249,948

270,271

8.	RELATED PARTY DISCLOSURES

During the year, the company repaid £28,124 (2025: £16,995) to the director. The balance of £187,007 (2025: £215,131) was due to the director as at 31 March 2026. The balance is unsecured and repayable on demand.

Dividends totalling £500 (2025: £500) were declared to the director during the year. The director also charged interest of £1,000 per annum (2025: £1,000) to the company.