REGISTERED NUMBER: 11368464 (England and Wales)

FORAS GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P Quinn

REGISTERED OFFICE:

80 Long Acre

London

WC2E 9NG

REGISTERED NUMBER:

11368464 (England and Wales)

ACCOUNTANTS:

Clay Ratnage Daffin & Co Limited

Chartered Accountants

Suite D, The Business Centre

Faringdon Avenue

Romford

Essex

RM3 8EN

FIXED ASSETS

Tangible assets

4

3,397

1,335

CURRENT ASSETS

Debtors

5

1,301,382

598,384

Cash at bank

123

17,968

1,301,505

616,352

CREDITORS

Amounts falling due within one year

6

1,625,676

747,836

NET CURRENT LIABILITIES

(324,171

)

(131,484

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(320,774

)

(130,149

)

CREDITORS

Amounts falling due after more than one year

7

3,333

13,333

NET LIABILITIES

(324,107

)

(143,482

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(324,108

)

(143,483

)

(324,107

)

(143,482

)

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

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

The director acknowledges his 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.

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 director and authorised for issue on 27 May 2026 and were signed by:

J P Quinn - Director

1.	STATUTORY INFORMATION

Foras Group 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.

The company had a name change on 21 November 2024 from Pivot Construction Limited to Foras Group Ltd.

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.

Computer equipment

-

20% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Classification of financial liabilities: Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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.

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.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2024

1,993

Additions

2,910

At 31 May 2025

4,903

DEPRECIATION

At 1 June 2024

658

Charge for year

848

At 31 May 2025

1,506

NET BOOK VALUE

At 31 May 2025

3,397

At 31 May 2024

1,335

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

25,614

-

Amounts owed by group undertakings

33,557

17,383

Amounts recoverable on long-

term contracts

848,372

219,116

Other debtors

393,839

361,885

1,301,382

598,384

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

10,862

10,000

Trade creditors

1,029,086

289,842

Amounts owed to group undertakings

40,055

-

Taxation and social security

39,630

18,138

Other creditors

506,043

429,856

1,625,676

747,836

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

3,333

13,333

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

10,862

10,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

3,333

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

3,333

9.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,431 (2024 - £770). Contributions totalling £881 (2024 - £2,055) were payable to the fund at the balance sheet date and are included in creditors.

10.	RELATED PARTY DISCLOSURES

2025

2024

£

£

Amounts due to connected companies

501,742

421,482

Amounts due to group companies

40,055

-

Amounts due from group companies

33,367

17,383

Amounts due from parent company

190

-

11.	ULTIMATE CONTROLLING PARTY

Foras Group Ltd is controlled by J Quinn Investment Holdings Ltd. The ultimate controlling party is Mr J P Quinn.