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REGISTERED NUMBER: 01872185 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| SOUTHGATE TIMBER COMPANY LIMITED |

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Report of the Accountants | 8 |

| SOUTHGATE TIMBER COMPANY LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | M L Jenkins

| P M Jenkins

| REGISTERED OFFICE: | Southgate House

| Nether Hall

| Church Road

| Moreton

| Essex

| CM5 0JA

| REGISTERED NUMBER: | 01872185 (England and Wales)

| ACCOUNTANTS: | Hetherington and Co Limited

| Chartered Certified Accountants and

| Registered Auditors

| Second Floor

| 289 Green Lanes

| Palmers Green

| London

| N13 4XS

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 361,352 |  | 404,854 |  |

CURRENT ASSETS

Stocks | 3,235,759 |  | 2,667,110 |  |

Debtors | 5 | 361,275 |  | 277,085 |  |

Cash at bank | 3,439,519 |  | 3,290,129 |  |

7,036,553 |  | 6,234,324 |  |

CREDITORS

Amounts falling due within one year | 6 | 2,045,571 |  | 1,601,434 |  |

NET CURRENT ASSETS | 4,990,982 |  | 4,632,890 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,352,334 |  | 5,037,744 |  |

PROVISIONS FOR LIABILITIES | 7 | 67,205 |  | 79,115 |  |

NET ASSETS | 5,285,129 |  | 4,958,629 |  |

CAPITAL AND RESERVES

Called up share capital | 50,000 |  | 50,000 |  |

Retained earnings | 5,235,129 |  | 4,908,629 |  |

SHAREHOLDERS' FUNDS | 5,285,129 |  | 4,958,629 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

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.

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

BALANCE SHEET - continued

31 DECEMBER 2025

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 Board of Directors and authorised for issue on 16 April 2026 and were signed on its behalf by:

M L Jenkins - Director

P M Jenkins - Director

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Southgate Timber Company Limited is a private company, limited by shares , registered in England and Wales. 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.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| 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 | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Stocks

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

| 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.

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 24 (2024 - 22 ) .

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 6,500 |  | 968,269 |  | 974,769 |  |

| Additions | - |  | 107,827 |  | 107,827 |  |

| Disposals | - |  | (67,500 | ) | (67,500 | ) |

| At 31 December 2025 | 6,500 |  | 1,008,596 |  | 1,015,096 |  |

| DEPRECIATION

| At 1 January 2025 | 6,500 |  | 563,415 |  | 569,915 |  |

| Charge for year | - |  | 123,442 |  | 123,442 |  |

| Eliminated on disposal | - |  | (39,613 | ) | (39,613 | ) |

| At 31 December 2025 | 6,500 |  | 647,244 |  | 653,744 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 361,352 |  | 361,352 |  |

| At 31 December 2024 | - |  | 404,854 |  | 404,854 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 132,534 |  | 141,037 |  |

| VAT | 70,823 |  | - |  |

| Other debtors and prepayments | 157,918 |  | 136,048 |  |

361,275 |  | 277,085 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 1,434,578 |  | 1,160,358 |  |

| Tax | 242,750 |  | 163,662 |  |

| Social security and other taxes | 41,686 |  | 35,349 |  |

| VAT | - |  | 40,303 |  |

| Payments received in advance | 39,348 |  | 53,292 |  |

| Directors' current accounts | 81,803 |  | 124,026 |  |

| Other creditors and accrued

| expenses | 205,406 |  | 24,444 |  |

2,045,571 |  | 1,601,434 |  |

SOUTHGATE TIMBER COMPANY LIMITED (REGISTERED NUMBER: 01872185) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

7. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

£ | £ |

| Deferred tax | 67,205 |  | 79,115 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 79,115 |  |

| Accelerated allowances | (11,910 | ) |

| Balance at 31 December 2025 | 67,205 |  |

8. | PENSION COMMITMENTS

| The company operates a defined contribution scheme. At the balance sheet date unpaid contributions of £3,616 (2024: £3,714) was due to the fund.The amount due is included in other creditors and accrued expenses.

9. | OTHER FINANCIAL COMMITMENTS

| The company had commitments under fixed price forward contracts to acquire stocks ordered but not delivered at the balance sheet date valued at £960,093 (2024: £423,169).

| At the year end date the company had no commitments under non cancellable lease agreements (2024: £Nil).

10. | RELATED PARTY DISCLOSURES

| During the year, total dividends of £300,000 were paid to the directors and shareholders.

| At the year end date, creditors included the following amounts owed to the directors:-

| Mr. M L Jenkins £21,803 and Mr. P M Jenkins £60,000.

| At the year end date, creditors also included £79,260 owed to non director shareholders.

| SOUTHGATE TIMBER COMPANY LIMITED |

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF

SOUTHGATE TIMBER COMPANY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2025 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hetherington and Co Limited

Chartered Certified Accountants and

Registered Auditors

Second Floor

289 Green Lanes

Palmers Green

London

N13 4XS

16 April 2026