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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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BLACKMEAD FORESTRY III LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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BLACKMEAD FORESTRY III LIMITED |
BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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BLACKMEAD FORESTRY III LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Directors: |
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Registered office: |
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Registered number: |
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BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2022. |
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Directors |
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Other changes in directors holding office are as follows: |
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Statement of directors' responsibilities |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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On behalf of the board: |
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BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
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Turnover |
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Cost of sales | ( |
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Gross loss | ( |
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Administrative expenses | ( |
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(11,937 | ) | (9,433 | ) |
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Gain/loss on revaluation of investments | - | (20,974 | ) |
Operating loss | 4 | ( |
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Profit/loss on sale of intangible fixed assets | 5 | ( |
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(1,094,418 | ) | (30,407 | ) |
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Income from shares in group undertakings |
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Income from fixed asset investments |
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(1,058,373 | ) | 109,153 |
Gain/loss on revaluation of tangible assets | 707,725 | - |
(350,648 | ) | 109,153 |
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Interest payable and similar expenses | ( |
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(Loss)/profit before taxation | ( |
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Tax on (loss)/profit | 6 |
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(Loss)/profit for the financial year | ( |
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BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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BALANCE SHEET |
31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 7 |
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Investments held at fair value |
through profit or loss | 8 |
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Current assets |
Debtors | 9 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 10 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 11 |
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Net assets |
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Capital and reserves |
Called up share capital |
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Share premium |
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Retained earnings |
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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. |
BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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BALANCE SHEET - continued |
31 MARCH 2022 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | Statutory information |
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Blackmead Forestry III Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Interest receivable and other income |
Other income such as interest receivable on loan notes is included on an accruals basis. |
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Investments held at fair value through profit or loss |
Investments held by the Company have been valued in accordance with the International Private Equity and Venture Capital (IPEVC) valuation guidelines (December 2018) developed by the British Venture Capital Association and other organisations. Through these guidelines, investments are valued as defined at 'fair value'. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2021 - NIL). |
BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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4. | Operating profit/(loss) |
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The operating profit (2021 - operating loss) is stated after charging: |
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31.3.22 | 31.3.21 |
£ | £ |
Depreciation - owned assets |
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5. | Exceptional items |
31.3.22 | 31.3.21 |
£ | £ |
Profit/loss on sale of intangible fixed assets | ( |
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6. | Taxation |
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Analysis of the tax credit |
The tax credit on the loss for the year was as follows: |
31.3.22 | 31.3.21 |
£ | £ |
Deferred tax | ( |
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Tax on (loss)/profit | ( |
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Reconciliation of total tax credit 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: |
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31.3.22 | 31.3.21 |
£ | £ |
(Loss)/profit before tax | ( |
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(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
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( |
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Effects of: |
Expenses not deductible for tax purposes |
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Income not taxable for tax purposes | ( |
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Tax rate changes | (1,893 | ) | - |
Total tax credit | (7,889 | ) | - |
BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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7. | Tangible fixed assets |
Land and |
buildings |
£ |
Cost |
Additions |
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At 31 March 2022 |
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Depreciation |
Charge for year |
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At 31 March 2022 |
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Net book value |
At 31 March 2022 |
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8. | Investments held at fair value |
through profit or loss |
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31.3.22 | 31.3.21 |
£ | £ |
Shares in group undertakings |
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Loans to group undertakings |
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Other investments not loans |
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Additional information is as follows: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Cost or valuation |
At 1 April 2021 |
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780,495 |
Additions |
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5,503,195 |
Disposals |
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At 31 March 2022 |
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5,503,195 |
Net book value |
At 31 March 2022 |
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5,503,195 |
At 31 March 2021 |
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780,495 |
BLACKMEAD FORESTRY III LIMITED (REGISTERED NUMBER: 07985672) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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8. | Investments held at fair value through profit or loss - continued |
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Cost or valuation at 31 March 2022 is represented by: |
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Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2018 | - | (494,519 | ) | (494,519 | ) |
Valuation in 2019 | - | (145,428 | ) | (145,428 | ) |
Valuation in 2020 | - | (45,859 | ) | (45,859 | ) |
Valuation in 2021 | - | (20,974 | ) | (20,974 | ) |
Valuation in 2022 | - | 706,780 | 706,780 |
Cost | 5,503,195 | - | 5,503,195 |
5,503,195 | - | 5,503,195 |
Loans to |
group |
undertakings |
£ |
New in year |
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At 31 March 2022 |
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9. | Debtors: amounts falling due within one year |
31.3.22 | 31.3.21 |
£ | £ |
Other debtors |
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10. | Creditors: amounts falling due within one year |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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11. | Creditors: amounts falling due after more than one year |
31.3.22 | 31.3.21 |
£ | £ |
Loan |
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