IRIS Accounts Production v26.1.10.60 05053385 Board of Directors 1.10.24 30.9.25 30.9.25 Medium entities the sale and distribution of stone and other materials. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 05053385 2024-09-30 05053385 2025-09-30 05053385 2024-10-01 2025-09-30 05053385 2023-09-30 05053385 2023-10-01 2024-09-30 05053385 2024-09-30 05053385 ns15:EnglandWales 2024-10-01 2025-09-30 05053385 ns14:PoundSterling 2024-10-01 2025-09-30 05053385 ns10:Director1 2024-10-01 2025-09-30 05053385 ns10:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 05053385 ns10:MediumEntities 2024-10-01 2025-09-30 05053385 ns10:Audited 2024-10-01 2025-09-30 05053385 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-10-01 2025-09-30 05053385 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-10-01 2025-09-30 05053385 ns10:FullAccounts 2024-10-01 2025-09-30 05053385 ns10:OrdinaryShareClass1 2024-10-01 2025-09-30 05053385 ns10:OrdinaryShareClass2 2024-10-01 2025-09-30 05053385 ns10:OrdinaryShareClass3 2024-10-01 2025-09-30 05053385 ns10:Director2 2024-10-01 2025-09-30 05053385 ns10:Director3 2024-10-01 2025-09-30 05053385 ns10:Director4 2024-10-01 2025-09-30 05053385 ns10:CompanySecretary1 2024-10-01 2025-09-30 05053385 ns10:RegisteredOffice 2024-10-01 2025-09-30 05053385 1 2024-10-01 2025-09-30 05053385 1 2023-10-01 2024-09-30 05053385 ns5:CurrentFinancialInstruments 2025-09-30 05053385 ns5:CurrentFinancialInstruments 2024-09-30 05053385 ns5:Non-currentFinancialInstruments 2025-09-30 05053385 ns5:Non-currentFinancialInstruments 2024-09-30 05053385 ns5:ShareCapital 2025-09-30 05053385 ns5:ShareCapital 2024-09-30 05053385 ns5:RetainedEarningsAccumulatedLosses 2025-09-30 05053385 ns5:RetainedEarningsAccumulatedLosses 2024-09-30 05053385 ns5:ShareCapital 2023-09-30 05053385 ns5:RetainedEarningsAccumulatedLosses 2023-09-30 05053385 ns5:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 05053385 ns5:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 05053385 ns10:HighestPaidDirector 2024-10-01 2025-09-30 05053385 ns10:HighestPaidDirector 2023-10-01 2024-09-30 05053385 ns5:OwnedAssets 2024-10-01 2025-09-30 05053385 ns5:OwnedAssets 2023-10-01 2024-09-30 05053385 ns10:OrdinaryShareClass1 2023-10-01 2024-09-30 05053385 ns10:OrdinaryShareClass2 2023-10-01 2024-09-30 05053385 ns5:LandBuildings 2024-09-30 05053385 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-09-30 05053385 ns5:LeaseholdImprovements 2024-09-30 05053385 ns5:PlantMachinery 2024-09-30 05053385 ns5:LandBuildings 2024-10-01 2025-09-30 05053385 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-10-01 2025-09-30 05053385 ns5:LeaseholdImprovements 2024-10-01 2025-09-30 05053385 ns5:PlantMachinery 2024-10-01 2025-09-30 05053385 ns5:LandBuildings 2025-09-30 05053385 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-09-30 05053385 ns5:LeaseholdImprovements 2025-09-30 05053385 ns5:PlantMachinery 2025-09-30 05053385 ns5:LandBuildings 2024-09-30 05053385 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-09-30 05053385 ns5:LeaseholdImprovements 2024-09-30 05053385 ns5:PlantMachinery 2024-09-30 05053385 ns5:FurnitureFittings 2024-09-30 05053385 ns5:MotorVehicles 2024-09-30 05053385 ns5:ComputerEquipment 2024-09-30 05053385 ns5:FurnitureFittings 2024-10-01 2025-09-30 05053385 ns5:MotorVehicles 2024-10-01 2025-09-30 05053385 ns5:ComputerEquipment 2024-10-01 2025-09-30 05053385 ns5:FurnitureFittings 2025-09-30 05053385 ns5:MotorVehicles 2025-09-30 05053385 ns5:ComputerEquipment 2025-09-30 05053385 ns5:FurnitureFittings 2024-09-30 05053385 ns5:MotorVehicles 2024-09-30 05053385 ns5:ComputerEquipment 2024-09-30 05053385 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-09-30 05053385 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-09-30 05053385 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2025-09-30 05053385 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2024-09-30 05053385 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-09-30 05053385 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-09-30 05053385 ns5:WithinOneYear 2025-09-30 05053385 ns5:WithinOneYear 2024-09-30 05053385 ns5:BetweenOneFiveYears 2025-09-30 05053385 ns5:BetweenOneFiveYears 2024-09-30 05053385 ns5:AllPeriods 2025-09-30 05053385 ns5:AllPeriods 2024-09-30 05053385 ns5:Secured 2025-09-30 05053385 ns5:Secured 2024-09-30 05053385 ns5:DeferredTaxation 2024-09-30 05053385 ns5:DeferredTaxation 2024-10-01 2025-09-30 05053385 ns5:DeferredTaxation 2025-09-30 05053385 ns10:OrdinaryShareClass1 2025-09-30 05053385 ns10:OrdinaryShareClass2 2025-09-30 05053385 ns10:OrdinaryShareClass3 2025-09-30 05053385 ns5:RetainedEarningsAccumulatedLosses 2024-09-30

REGISTERED NUMBER: 05053385 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 September 2025

for

F G D Ltd

F G D Ltd (Registered number: 05053385)

Contents of the Financial Statements

for the Year Ended 30 September 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Statement of Comprehensive Income | 10 |

Balance Sheet | 11 |

Statement of Changes in Equity | 12 |

Cash Flow Statement | 13 |

Notes to the Cash Flow Statement | 14 |

Notes to the Financial Statements | 15 |

F G D Ltd

Company Information

for the Year Ended 30 September 2025

| DIRECTORS: | R P Aucott

| S J Davies

| C J Hood

| M C Davis

| SECRETARY: | C J Hood

| REGISTERED OFFICE: | Smestow Bridge

| Bridgnorth Road

| Wombourne

| Wolverhampton

| West Midlands

| WV5 8AY

| REGISTERED NUMBER: | 05053385 (England and Wales)

| AUDITORS: | Haines Watts Wolverhampton Limited

| Statutory Auditors

| Keepers Lane

| The Wergs

| Wolverhampton

| West Midlands

| WV6 8UA

F G D Ltd (Registered number: 05053385)

Strategic Report

for the Year Ended 30 September 2025

The directors present their strategic report for the year ended 30th September 2025.

REVIEW OF BUSINESS

Once again, the sale and distribution of aggregates is subject to a healthy but challenging competition. As in previous years the directors are pleased to report that we managed to achieve good margins.

The principal activities of the business continue to be the sale and distribution of aggregates to the construction industry, including all types of quarried aggregates, sands and gravels and recycled materials. The clearance of construction sites of waste material - so called 'muck shift' - also continues to be a key complimentary service, making a meaningful contribution to the profitability of the business.

The sale of aggregate continues to be subject to intense price competition. Notwithstanding the highly competitive market, FGD achieved £33.7m sales in the year to 30th September 2025, a decrease of £3.2m compared to 2024. Online media has been maintained throughout the business and is part of our day to day running. Internal training is continued. Geographical expansion is still one of the core objectives of the business in the coming years.

Sales for the year ended 30th September 2025 were £33,735,251 compared to £36,988,995 for 2024. The gross profit percentage was 8.3% (2024: 7.7%). The company made a pre-tax profit of £1,331,029 for the year ended 30th September 2025 compared to £1,332,273 for 2024. The cash at bank and in hand was £2,437,035 compared to £2,083,966 and secured debt was decreased by £36,241 from £384,503 during the year.

F G D Ltd (Registered number: 05053385)

Strategic Report

for the Year Ended 30 September 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks affecting the company are considered to be fire (or other similar sudden unforeseen events) leading to a reduction in administration capacity and product availability, overall market and economic conditions, and the volatility of raw material prices.

The company mitigates these risks in a number of ways, including the use of a disaster recovery plan covering potential disruptions to its business, the specific identification of alternate suppliers and the use of relevant financial instruments.

The company operates in a very competitive market which is a continuing risk and may result in sales being lost to competitors. The company manages this risk by providing excellent service in all its activities.

The company has reviewed its position, in the light of the present economic outlook, as part of its normal budgetary process. The directors believe that the company has satisfactory financial resources, as demonstrated by the current assets at 30 September 2025. The company is expected to continue to trade profitably, even in the event of uncertainties in the global economy.

After making appropriate enquiries, the directors are of the opinion that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the report and accounts.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company's operations expose it to a variety of financial risks that include the effects of credit risk and investment risk.

The company monitors and takes action in each of these areas as follows:

CREDIT RISK

The company has implemented policies that require appropriate credit checks on potential customers before sales are made. Credit checks are made on those customers who are deemed to be a significant credit risk to the company as well as the company taking out a policy of credit insurance to mitigate major risks. The company also monitors all court judgements made against its customers and makes appropriate adjustments in the light of this information.

LIQUIDITY RISK

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs.

KEY PERFORMANCE INDICATORS

The directors use a number KPIs in measuring the performance of the business. Key indicators used by the company cover margins, debtors, and cash generation. The Directors are comfortable with performance against KPIs, in view of the competitive environment. As these KPIs are derived from figures disclosed in this report, no additional KPIs are disclosed.

BY ORDER OF THE DIRECTORS:

R P Aucott - Director

19 May 2026

F G D Ltd (Registered number: 05053385)

Report of the Directors

for the Year Ended 30 September 2025

The directors present their report with the financial statements of the company for the year ended 30 September 2025.

DIVIDENDS

interim dividends per share were paid as follows:

Ordinary A £1 shares |  | 1,019,830 |  |

Ordinary B £1 shares |  | 66,000 |  |

Ordinary C £1 shares |  | 0 |  |

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 30 September 2025 was £1,085,830.

RESEARCH AND DEVELOPMENT

In recent periods the overall commitment to research in order to strengthen the bases of knowledge has been increased to retain its market position, by acquiring new technical, design and systems expertise. This has meant more concentration on conceptual ideas for extension of the company's technical ability and adaptability in developing new strategies and methodologies. The company is in an advanced state of continuous work and development in order to effectively respond to clients' requirements across a wide and changing range of activities requiring new and specific solutions in technical analysis and future environmentally friendly solutions.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2024 to the date of this report.

R P Aucott

S J Davies

C J Hood

M C Davis

EMPLOYEES

Applications for employment from disabled persons are always fully considered, bearing in mind the respective aptitude and abilities of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of a disabled person should, as far as possible, be identical to that of a person who is fortunate enough not to suffer from a disability.

Employees are kept informed and consulted on matters of importance to them, including those factors affecting the performance and future of the business.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with s414C(11) of the Companies Act, to set out in the company's strategic report information regarding the review of business and a description of the principal risks and uncertainties facing the company.

F G D Ltd (Registered number: 05053385)

Report of the Directors

for the Year Ended 30 September 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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:

- | 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.

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

Haines Watts Wolverhampton Limited are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

BY ORDER OF THE DIRECTORS:

R P Aucott - Director

19 May 2026

Report of the Independent Auditors to the Members of

F G D Ltd

Opinion

We have audited the financial statements of F G D Ltd (the 'company') for the year ended 30 September 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

F G D Ltd

Matters on which we are required to report by exception

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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

F G D Ltd

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Identifying and obtaining an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, and made enquiry of the Company's management to understand the Company's compliance with that framework;

Obtaining an understanding of the internal controls established to mitigate risks relating to fraud or other error which could affect the financial reporting process;

Making enquiries of management to determine whether they have knowledge of any actual or suspected fraud;

Reviewing assumptions and judgements made by the management in its significant accounting estimates;

In addition to transaction-based testing, on a sample basis, of sales, purchases and payroll costs, we have undertaken a review of accounting journals and non-routine payments and receipts;

We did not identify any key audit matters relating to irregularities, including fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect irregularities, including those leading to material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or mispresentation.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of

F G D Ltd

Use of our report

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 a Report of the Auditors 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.

Geoffrey Hopwood BCOM ACA (Senior Statutory Auditor)

for and on behalf of Haines Watts Wolverhampton Limited

Statutory Auditors

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

19 May 2026

F G D Ltd (Registered number: 05053385)

Statement of Comprehensive Income

for the Year Ended 30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 33,735,251 |  | 36,988,995 |  |

Cost of sales | 30,949,695 |  | 34,126,199 |  |

GROSS PROFIT | 2,785,556 |  | 2,862,796 |  |

Administrative expenses | 1,541,809 |  | 1,622,812 |  |

1,243,747 |  | 1,239,984 |  |

Other operating income | 94,423 |  | 87,127 |  |

OPERATING PROFIT | 4 | 1,338,170 |  | 1,327,111 |  |

Interest receivable and similar income | 44,475 |  | 56,543 |  |

1,382,645 |  | 1,383,654 |  |

Interest payable and similar expenses | 5 | 51,616 |  | 51,381 |  |

PROFIT BEFORE TAXATION | 1,331,029 |  | 1,332,273 |  |

Tax on profit | 6 | 344,686 |  | 331,818 |  |

PROFIT FOR THE FINANCIAL YEAR | 986,343 |  | 1,000,455 |  |

OTHER COMPREHENSIVE INCOME |

Revaluation of Property | 59,727 |  | - |  |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 59,727 |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,046,070 |  | 1,000,455 |  |

F G D Ltd (Registered number: 05053385)

Balance Sheet

30 September 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 974,828 |  | 341,310 |  |

Investment property | 9 | 2,704,659 |  | 3,356,773 |  |

3,679,487 |  | 3,698,083 |  |

CURRENT ASSETS

Debtors | 10 | 4,921,279 |  | 7,047,106 |  |

Cash at bank and in hand | 2,437,035 |  | 2,083,966 |  |

7,358,314 |  | 9,131,072 |  |

CREDITORS

Amounts falling due within one year | 11 | 5,904,820 |  | 7,614,061 |  |

NET CURRENT ASSETS | 1,453,494 |  | 1,517,011 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,132,981 |  | 5,215,094 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (314,509 | ) | (350,750 | ) |

PROVISIONS FOR LIABILITIES | 16 | (89,193 | ) | (95,305 | ) |

NET ASSETS | 4,729,279 |  | 4,769,039 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 100 |  | 100 |  |

Retained earnings | 18 | 4,729,179 |  | 4,768,939 |  |

SHAREHOLDERS' FUNDS | 4,729,279 |  | 4,769,039 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2026 and were signed on its behalf by:

R P Aucott - Director

F G D Ltd (Registered number: 05053385)

Statement of Changes in Equity

for the Year Ended 30 September 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 October 2023 | 100 |  | 5,011,477 |  | 5,011,577 |  |

Changes in equity

Dividends | - |  | (1,242,993 | ) | (1,242,993 | ) |

Total comprehensive income | - |  | 1,000,455 |  | 1,000,455 |  |

Balance at 30 September 2024 | 100 |  | 4,768,939 |  | 4,769,039 |  |

Changes in equity

Dividends | - |  | (1,085,830 | ) | (1,085,830 | ) |

Total comprehensive income | - |  | 1,046,070 |  | 1,046,070 |  |

Balance at 30 September 2025 | 100 |  | 4,729,179 |  | 4,729,279 |  |

F G D Ltd (Registered number: 05053385)

Cash Flow Statement

for the Year Ended 30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,014,569 |  | 1,283,500 |  |

Interest paid | (51,616 | ) | (51,381 | ) |

Tax paid | (513,640 | ) | (327,178 | ) |

Net cash from operating activities | 1,449,313 |  | 904,941 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (26,717 | ) | (65,039 | ) |

Purchase of investment property | - |  | (437,659 | ) |

Sale of tangible fixed assets | 8,066 |  | 30,933 |  |

Interest received | 44,475 |  | 56,543 |  |

Net cash from investing activities | 25,824 |  | (415,222 | ) |

Cash flows from financing activities

Loan repayments in year | (36,238 | ) | (31,227 | ) |

Equity dividends paid | (1,085,830 | ) | (1,242,993 | ) |

Net cash from financing activities | (1,122,068 | ) | (1,274,220 | ) |

Increase/(decrease) in cash and cash equivalents | 353,069 |  | (784,501 | ) |

Cash and cash equivalents at beginning of year | 2 | 2,083,966 |  | 2,868,467 |  |

Cash and cash equivalents at end of year | 2 | 2,437,035 |  | 2,083,966 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Cash Flow Statement

for the Year Ended 30 September 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 1,331,029 |  | 1,332,273 |  |

| Depreciation charges | 93,224 |  | 105,393 |  |

| Loss on disposal of fixed assets | 3,747 |  | 19,520 |  |

| Finance costs | 51,616 |  | 51,381 |  |

| Finance income | (44,475 | ) | (56,543 | ) |

1,435,141 |  | 1,452,024 |  |

| Decrease in trade and other debtors | 1,983,319 |  | 157,246 |  |

| Decrease in trade and other creditors | (1,403,891 | ) | (325,770 | ) |

| Cash generated from operations | 2,014,569 |  | 1,283,500 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 30 September 2025

| 30.9.25 |  | 1.10.24

£ | £ |

| Cash and cash equivalents | 2,437,035 |  | 2,083,966 |  |

| Year ended 30 September 2024

| 30.9.24 |  | 1.10.23

£ | £ |

| Cash and cash equivalents | 2,083,966 |  | 2,868,467 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.10.24 | Cash flow | At 30.9.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,083,966 |  | 353,069 |  | 2,437,035 |  |

2,083,966 |  | 353,069 |  | 2,437,035 |  |

| Debt

| Debts falling due within 1 year | (33,753 | ) | - |  | (33,753 | ) |

| Debts falling due after 1 year | (350,750 | ) | 36,241 |  | (314,509 | ) |

(384,503 | ) | 36,241 |  | (348,262 | ) |

| Total | 1,699,463 |  | 389,310 |  | 2,088,773 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements

for the Year Ended 30 September 2025

1. | STATUTORY INFORMATION

| F G D Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Significant judgements and estimates

| 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.

| Turnover

| The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts. Turnover from the provision of goods and services are recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

| Tangible fixed assets

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

| Freehold property |  |  | 10% on cost |  |

| Long leasehold property |  |  | 4% on cost |  |

| Plant and machinery |  |  | 15% on reducing balance |  |

| Motor vehicles |  |  | 25% on reducing balance |  |

| Fixtures and fittings |  |  | 15% on reducing balance |  |

| Computer equipment |  |  | 15% on reducing balance |  |

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| 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.

| Financial instruments

| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,476,606 |  | 1,546,985 |  |

| Social security costs | 175,804 |  | 182,136 |  |

| Other pension costs | 53,470 |  | 55,184 |  |

1,705,880 |  | 1,784,305 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Administration | 36 |  | 39 |  |

| Directors are considered to be key management personnel.

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 212,874 |  | 212,667 |  |

| Directors' pension contributions to money purchase schemes | 28,800 |  | 28,800 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 4 |  | 4 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

3. | EMPLOYEES AND DIRECTORS - continued

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 71,000 |  | 70,889 |  |

| Pension contributions to money purchase schemes | 9,600 |  | 9,600 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 93,227 |  | 105,394 |  |

| Loss on disposal of fixed assets | 3,747 |  | 19,520 |  |

| Auditors' remuneration | 27,858 |  | 26,096 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 51,616 |  | 51,381 |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 350,798 |  | 375,776 |  |

| Over/under provision in prior years | - |  | (41,829 | ) |

| Total current tax | 350,798 |  | 333,947 |  |

| Deferred tax | (6,112 | ) | (2,129 | ) |

| Tax on profit | 344,686 |  | 331,818 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

6. | TAXATION - continued

| Reconciliation of total tax charge 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:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 1,331,029 |  | 1,332,273 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 332,757 |  | 333,068 |  |

| Effects of:

| Expenses not deductible for tax purposes | 11,929 |  | 40,579 |  |

| tax |

| Research and Development claim from prior year | - |  | (41,829 | ) |

| Total tax charge | 344,686 |  | 331,818 |  |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Revaluation of Property | 59,727 |  | - |  | 59,727 |  |

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary A shares of £1 each

| Interim | 1,019,830 |  | 1,176,993 |  |

| Ordinary B shares of £1 each

| Interim | 66,000 |  | 66,000 |  |

1,085,830 |  | 1,242,993 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

8. | TANGIBLE FIXED ASSETS

| Improvements |

| Freehold |  | Long |  | to |  | Plant and

| property |  | leasehold |  | property |  | machinery

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 October 2024 | 78,631 |  | - |  | 154,130 |  | 142,429 |  |

| Additions | - |  | - |  | - |  | - |  |

| Disposals | - |  | - |  | - |  | - |  |

| Revaluations | - |  | 59,727 |  | - |  | - |  |

| Reclassification/transfer | - |  | 652,114 |  | - |  | - |  |

| At 30 September 2025 | 78,631 |  | 711,841 |  | 154,130 |  | 142,429 |  |

| DEPRECIATION

| At 1 October 2024 | 48,882 |  | - |  | 67,559 |  | 104,679 |  |

| Charge for year | 7,625 |  | 27,771 |  | - |  | 20,656 |  |

| At 30 September 2025 | 56,507 |  | 27,771 |  | 67,559 |  | 125,335 |  |

| NET BOOK VALUE

| At 30 September 2025 | 22,124 |  | 684,070 |  | 86,571 |  | 17,094 |  |

| At 30 September 2024 | 29,749 |  | - |  | 86,571 |  | 37,750 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 October 2024 | 36,589 |  | 167,871 |  | 146,567 |  | 726,217 |  |

| Additions | 7,786 |  | - |  | 18,931 |  | 26,717 |  |

| Disposals | - |  | (11,813 | ) | - |  | (11,813 | ) |

| Revaluations | - |  | - |  | - |  | 59,727 |  |

| Reclassification/transfer | - |  | - |  | - |  | 652,114 |  |

| At 30 September 2025 | 44,375 |  | 156,058 |  | 165,498 |  | 1,452,962 |  |

| DEPRECIATION

| At 1 October 2024 | 17,806 |  | 89,859 |  | 56,122 |  | 384,907 |  |

| Charge for year | 3,332 |  | 19,023 |  | 14,820 |  | 93,227 |  |

| At 30 September 2025 | 21,138 |  | 108,882 |  | 70,942 |  | 478,134 |  |

| NET BOOK VALUE

| At 30 September 2025 | 23,237 |  | 47,176 |  | 94,556 |  | 974,828 |  |

| At 30 September 2024 | 18,783 |  | 78,012 |  | 90,445 |  | 341,310 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

8. | TANGIBLE FIXED ASSETS - continued

| Cost or valuation at 30 September 2025 is represented by:

| Improvements |

| Freehold |  | Long |  | to |  | Plant and

| property |  | leasehold |  | property |  | machinery

£ | £ | £ | £ |

| Cost | 78,631 |  | 711,841 |  | 154,130 |  | 142,429 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Cost | 44,375 |  | 156,058 |  | 165,498 |  | 1,452,962 |  |

9. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 October 2024 | 3,356,773 |  |

| Reclassification/transfer | (652,114 | ) |

| At 30 September 2025 | 2,704,659 |  |

| NET BOOK VALUE

| At 30 September 2025 | 2,704,659 |  |

| At 30 September 2024 | 3,356,773 |  |

| Fair value at 30 September 2025 is represented by:

£ |

| Valuation in 2023 | 107,000 |  |

| Cost | 2,597,659 |  |

2,704,659 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 4,794,604 |  | 6,777,117 |  |

| Other debtors | 42,500 |  | - |  |

| Corporation tax recoverable | - |  | 142,508 |  |

| Prepayments | 84,175 |  | 127,481 |  |

4,921,279 |  | 7,047,106 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 13) | 33,753 |  | 33,753 |  |

| Trade creditors | 5,316,731 |  | 6,615,014 |  |

| Corporation tax | 70,426 |  | 375,776 |  |

| Social security and other taxes | 32,752 |  | 36,294 |  |

| VAT | 166,950 |  | 204,898 |  |

| Accruals and deferred income | 284,208 |  | 348,326 |  |

5,904,820 |  | 7,614,061 |  |

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 13) | 314,509 |  | 350,750 |  |

13. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 33,753 |  | 33,753 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 33,753 |  | 33,753 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 33,753 |  | 33,753 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 247,003 |  | 283,244 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 24,357 |  | 19,704 |  |

| Between one and five years | 25,475 |  | 10,152 |  |

49,832 |  | 29,856 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 348,262 |  | 384,503 |  |

| Mortgage taken out for the purchase of the Cobalt Office and it secured against the asset to which it relates.

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 89,193 |  | 95,305 |  |

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 95,305 |  |

| Provided during year | (6,112 | ) |

| Balance at 30 September 2025 | 89,193 |  |

| The deferred tax provision is due to the following:

| a) accelerated capital allowances - £24,193 (2024 - £30,305)

| b) unrealised gain on fixed asset revaluation £65,000 (2024 - £65,000)

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 72 | Ordinary A | £1 | 72 |  | 72 |  |

| 24 | Ordinary B | £1 | 24 |  | 24 |  |

| 4 | Ordinary C | £1 | 4 |  | 4 |  |

100 |  | 100 |  |

18. | RESERVES

| Retained

| earnings

£ |

| At 1 October 2024 | 4,768,939 |  |

| Profit for the year | 986,343 |  |

| Dividends | (1,085,830 | ) |

| Revaluation | 59,727 |  |

| At 30 September 2025 | 4,729,179 |  |

F G D Ltd (Registered number: 05053385)

Notes to the Financial Statements - continued

for the Year Ended 30 September 2025

19. | RELATED PARTY DISCLOSURES

| During the year dividends of £1,085,830 (2024: £1,176,993) were paid to the directors.

| The following transactions took place during the year to F G Davis & Sons (Contractors) Limited,

| a company 50% owned by M C Davis a director/shareholder of FGD Limited.

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Sales |  | 3,822 |  | 4,562 |  |

| Amount outstanding |  | - |  | - |  |

| Purchases |  | 15,276 |  | 16,334 |  |

| Amount outstanding |  | 1,698 |  | 1,990 |  |

20. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling parties are Mr R P Aucott, Mr S J Davies, Mr C J Hood and Mr M C Davis, directors and shareholders.