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Registered number:
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
COMPANY INFORMATION
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CAST FIT OUT LTD
CONTENTS
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CAST FIT OUT LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
The Directors' are pleased to report that the Company has continued its growth and market presence within the commercial office real estate sector. This has been achieved through our services in design and build, under turnkey or traditional methods, focusing heavily on the landlord and asset owning client base whom align more centrally with our values on fairness, sustainability, diversity and a quality construction product.
We have continued to secure repeat business through effective key account management and high-quality genuine customer service which has contributed to the business ongoing success and sound platform for the future. The following key financials can be reported: Turnover: £36,692,968 (2024 - £25,459,410) Gross Profit: £5,486,684 (2024 - £3,096,743) Profit before tax: £2,678,369 (2024 - £703,846) The continued growth in turnover is attributable to an increase in the average size of projects and an increase in the quantity of projects. The business continues to invest in the future pipeline of work through the hiring of key senior leaders to help support our ongoing growth aspirations in Cast Fit Out Ltd and the wider group; we have seen last year's investments bear fruit into our increased net margin position. The directors are confident that the Company's exceptional reputation within the industry continues to allow them to attract the best talent in the market including our well-publicised culture, carbon neutral approach and innovative thinking in what remains a competitive market for people.
The market has enjoyed a more stable period from an inflationary perspective and by maintaining quality and breadth in our client base and supply chain, the directors endeavour to mitigate any market fluctuations. The nature of main contracting fit out, because of its speed, typically supports this but additionally we have diversified the wider group offering into broader project types with light refurbishment, laboratories, special projects and cross sector furniture provisions across the whole group.
The directors continue to remain aware of EU challenges associated with supply and demand and to mitigate this they chose local procurement, where possible. Staff retention in a competitive market is alleviated through the team recognising the opportunities that exist within the group and our growth potential. The Directors have also implemented incentives and benefits that are holistically supportive of the staff through welbeing, health, development opportunities, remuneration and tangible support to create a place of work that encapsulates exactly what we represent.
The Company continues to use a range of well-established and appropriate key performance indicators (KPI's) to monitor the progress of the business. The KPI's for the Company are turnover, gross profit and profit before tax as highlighted above.
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CAST FIT OUT LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
Accreditation fostering culture
The business maintains a raft of accreditations that demonstrate quality procedures, environmental standards and safety across ISO 9001, ISO 45001 and ISO 14001. With Construction Gold and Safe Contractor SSIP, we emanate a culture of safety and excellence in delivery which we are now known for. There is no compromise for us in ensuring these are the quantitive minimum standards we are held account to. We channel this into our culture which yields greater business returns through continued long term customer retention and a team that have faith in the way in which we deliver out projects from a cradle to grave perspective. The business has submitted their B Corp application; which is targeted to be in place prior to the next financial year and will be seen as the final compliment of accreditations appropriate to being a tier one provider in the commerical real estate sector. ESG Strategy At Cast Group, we believe that shaping a sustainable built environment begins with how we operate - responsibly, transparently, and collaboratively. Since launching our formal ESG strategy in 2022, we have steadily progressed in both ambition and action. Each year, we’ve enhanced our activity-based carbon accounting and deepened our understanding of the environmental impact across our operations, supply chain, and project delivery. In 2025 Cast Group completed a consolidated, third-party verified carbon footprint assessment across all business entities using Greenly’s GHG Protocol-aligned methodology. This assessment covered 66 emissions sources across Scope 1, 2 and 3, incorporating data from all areas of the Group - spanning construction materials, on-site impacts, travel, furniture, waste, IT assets as well as our office and warehouse operations. The findings confirmed that while our Scope 1 and 2 emissions are relatively low at 35 tCO2e and 11 tCO2e respectively, our Scope 3 emissions totalled 12,000 tCO2e. Cast Group has offset our Scope 1 and 2 emissions for the year entirely through verified sources. Our Scope 3 for our first year with Greenly include expense-based proxy calculations, such as emissions per £ spent. These are intentionally conservative and serve to highlight areas of material impact. For our next carbon accounting year, we are already actively improving our data collection through better accounting reporting and expanding our EPD database within the Greenly platform. These improvements will enhance the accuracy of our reporting year on year, reduce reliance on proxy figures, and better reflect the impact of our operations, materials, and supply chains. Emissions Summary (Cast Group Consolidated) Scope 1 - Direct fuel use and fugitive emissions: 35 tCO2e Scope 2 - Purchased electricity: 11tCO2e Scope 3 - Upstream procurement, transport, commuting, assets: 12,000 tCO2e Total - All scopes combined: 12,046 t CO2e Key Scope 3 contributors:
∙Product purchases: 8,100 tCO2e
∙Service purchases: 3,200 tCO2e
∙Travel and commuting: 320 tCO2e
∙Food & drink, digital, waste, and IT assets: <500 tCO2e combined
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CAST FIT OUT LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
With over 95% of emissions derived from procurement activities, our strategy has shifted towards engaging our suppliers on climate performance. We continue to develop our supplier-specific emissions tracking, carbon impact criteria, and training aligned with global decarbonisation pathways we have set. The results from our carbon footprint assessment have informed our carbon reduction targets:
∙Achieving Net Zero Carbon Scope 1 & 2 emissions by 2035, with an interim goal of 50% reduction by
2030 latest.
∙Reduce Scope 3 emissions by 50% by 2035.
∙Achieve Net Zero Carbon emissions by 2040.
In the 2025 financial year, Cast Group offset a total of approximately 2,770 tCO2e in nature-based carbon avoidance projects. These projects include reforestation, forest protection, and habitat restoration, supporting both carbon avoidance and broader ecosystem benefits. In parallel, we continue to prepare for SBTi validation and B Corp certification in the coming year, all while embedding social and environmental accountability into all facets of our business - from waste reduction and material reuse to employee engagement and inclusive design.
Diversity
As a diverse construction business, we are proud of the fact we are majority female owned and are subsequently accredited as such by WeConnect and have maintained, since inception, a team with over 35% female. The directors consider this to be a key success metric that will move forward with the business. Our workforce is currently 38% female across the business against an industry average of just 14%.
Innovation, Research & Development
Through the expansion of our Operational Innovation team, we continue to push the limits on the ways in which we report to our customer base across sustainability and social value. We are proud of our strategic partnerships with Unseen (Modern Slavery), Greenly (Carbon Accounting) and Thrive (Social Value measuring), recognising that this is what sets us apart from our competitors by investing in platforms and support that do not enhance profit but enhance the core values of the business. This in turn improves team morale, quality and returning client base that do directly impact the current and future success of the organisation.
This report was approved by the board on 16 September 2025 and signed on its behalf.
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CAST FIT OUT LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
The directors present their report and the financial statements for the year ended 28 February 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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.
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 to 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.
The profit for the year, after taxation, amounted to £2,032,690 (2024 - £570,564).
The directors do not recommend the payment of a final dividend.
The directors who served during the year were:
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CAST FIT OUT LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under S485 Companies Act 2006.
This report was approved by the board on
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CAST FIT OUT LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAST FIT OUT LTD
We have audited the financial statements of Cast Fit Out Ltd (the 'Company') for the year ended 28 February 2025, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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CAST FIT OUT LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAST FIT OUT LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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CAST FIT OUT LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAST FIT OUT LTD (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector, including Companies Act 2006;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙laws and regulations identified were communicated with the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙reviewed the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations; and
∙performed analytical procedures and tested journal entries to identify any unusual or unexpected relationships or transactions.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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CAST FIT OUT LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAST FIT OUT LTD (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
London
E11 1GA
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CAST FIT OUT LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
REGISTERED NUMBER: 12446316
BALANCE SHEET
AS AT 28 FEBRUARY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 24 form part of these financial statements.
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Cast Fit Out Ltd ("the Company") is a private Company limited by shares, incorporated in England and Wales. Its registered office is Unit 8 Tallon Road, Hutton, Brentwood, England, CM13 1TF.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Companies financial statements are presented in sterling, which is also the company's functional currency, and all values are rounded to the nearest pound (£).
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Cast Group Services Limited as at 28 February 2025 and these financial statements may be obtained from the Companies registered office.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and are not aware of any circumstances likely to arise which may cause the going concern basis to be inappropriate.
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
The Company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entities and when specific criteria have been met as described below.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Judgements in applying accounting policies. The company does not consider there to be any critical judgements in applying accounting policies. Accounting judgements and estimation The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: (i) Construction contracts The company applies a general policy of recognising profit on contracts only when the final outcome can be assessed with reasonable certainty. In doing so the directors have made key assumptions regarding the future costs to complete the construction contracts.
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
There were no factors that may affect future tax charges.
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Profit and loss account
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the fund and amounted to £189,001 (2024 - £186,998). Contibutions totalling £13,053 (2024 - £4,224) were payable to the fund at the balance sheet date.
During the year, £54,982 (2024 - £Nil) advanced to directors. Interest of £469 (2024 - £Nil) was charged on amounts advanced and £Nil (2024 - £15,722) was repaid. At the year end, the directors owed the Company £56,529 (2024 - £1,078).
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CAST FIT OUT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
The immediate parent company is Cast Group Services Limited, a Company incorporated in the UK and registered in England and Wales.
The smallest and largest group to consolidate these financial statements is Cast Group Services Limited. Copies of these consolidated financial statements can be obtained from the Companies registered office being Unit 8 Tallon Road, Hutton, Brentwood, England, CM13 1TF. The ultimate controlling party of the Company is Mrs Z Moss.
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