Company Registration number: 04491648

Mike Forrester (Construction) Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 7

Mike Forrester (Construction) Limited

Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	23,454	29,666
Current assets
Stocks	5	117,340	44,684
Debtors	6	6,317	15,739
Cash at bank and in hand		77,701	200,666
		201,358	261,089
Creditors: Amounts falling due within one year	7	(17,168)	(33,680)
Net current assets		184,190	227,409
Net assets		207,644	257,075
Capital and reserves
Called up share capital		100	100
Retained earnings		207,544	256,975
Shareholders' funds		207,644	257,075

Mike Forrester (Construction) Limited

Balance Sheet as at 31 August 2025 (continued)

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 04491648

Approved and authorised by the Board on 18 December 2025 and signed on its behalf by:
 

......................................... Mr M J Forrester Director

Mike Forrester (Construction) Limited

Notes to the financial statements for the Year Ended 31 August 2025

1	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

Mike Forrester (Construction) Limited

Notes to the financial statements for the Year Ended 31 August 2025 (continued)

1	ACCOUNTING POLICIES (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Mike Forrester (Construction) Limited

Notes to the financial statements for the Year Ended 31 August 2025 (continued)

1	ACCOUNTING POLICIES (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Mike Forrester (Construction) Limited

Notes to the financial statements for the Year Ended 31 August 2025 (continued)

3	INTANGIBLE ASSETS

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	12,000	12,000
At 31 August 2025	12,000	12,000
Amortisation
At 1 September 2024	12,000	12,000
At 31 August 2025	12,000	12,000
Carrying amount
At 31 August 2025	-	-

4	TANGIBLE ASSETS

	Office equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 September 2024	1,473	17,500	119,481	138,454
Disposals	(1,409)	-	-	(1,409)
At 31 August 2025	64	17,500	119,481	137,045
Depreciation
At 1 September 2024	1,413	11,963	95,411	108,787
Charge for the year	15	1,384	4,814	6,213
Eliminated on disposal	(1,409)	-	-	(1,409)
At 31 August 2025	19	13,347	100,225	113,591
Carrying amount
At 31 August 2025	45	4,153	19,256	23,454
At 31 August 2024	59	5,537	24,070	29,666

5

STOCKS

	2025 £	2024 £
Stock and work in progress	117,340	44,684

Mike Forrester (Construction) Limited

Notes to the financial statements for the Year Ended 31 August 2025 (continued)

6

DEBTORS

Current	2025 £	2024 £
Trade debtors	-	10,736
Prepayments	2,991	5,003
Other debtors	3,326	-
	6,317	15,739

7

CREDITORS

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	13,280	29,968
Taxation and social security	-	555
Accruals and deferred income	3,139	2,508
Other creditors	749	649
	17,168	33,680