Company registration number 00451880 (England and Wales)
FOREST GATE CONSTRUCTION CO LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
FOREST GATE CONSTRUCTION CO LTD
COMPANY INFORMATION
Directors
T S Hosking
P R Reeves
S W Pockett
Company number
00451880
Registered office
Sidney House
Christy Close
Southfields
Basildon
Essex
SS15 6TN
Auditor
Myers Clark
Suite 7A, Building 6
Croxley Park, Hatters Lane
Watford
Hertfordshire
WD18 8YH
Business address
Sidney House
Christy Close
Southfields
Basildon
Essex
SS15 6TN
Bankers
National Westminster Bank Plc
South Essex Commercial Office
Ground Floor
Thanet Grange
Westcliff-on-Sea
Essex
SS0 0EJ
FOREST GATE CONSTRUCTION CO LTD
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 21
FOREST GATE CONSTRUCTION CO LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

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

Review of the business

The principal activity of the company was that of building contractors. The Directors are satisfied with the company’s performance for the year.

Turnover increased compared with the previous year, and the company achieved a strong gross profit margin, although this was lower than in the previous period. Despite the continuing challenges facing the construction industry, the Directors remain confident in the company’s long-term prospects.

Principal risks and uncertainties

The Directors considers the key performance indicators for Forest Gate Construction to be tenders converted into secured contracts, gross margin and profit before tax. The company has derived a large proportion of its turnover in previous years via public sector projects. This has resulted in the fluctuation of tenders received due to government fiscal pressures. The Directors have aimed to seek a larger client base within the commercial and private sectors to reduce any short-term reduction in tenders in the time of recession. This is proving to be positive.

Development and performance

The volume of tenders submitted throughout the period decreased on the previous period although the percentage of tenders secured remained similar at an approximate conversion rate of 1:4. Those tenders secured into firm orders proved to be profitable and contracts have been managed in an efficient manner.

Key performance indicators

Cash reserves have increased and the Directors place great important on having sufficient surplus funds to provide working capital for the Company's business. These funds are placed in non-risk accounts bearing interest in order that the Company continues to pay creditors in a timely fashion. The company generates consistent cash inflows from operations and has liabilities that are known and can be discharged without recourse to external funding.

Other performance indicators

The Directors are pleased that the strong balance sheet has been maintained. Cash reserves continue to be healthy and this enables the Director's to monitor performance.

On behalf of the board

T S Hosking
Director
23 April 2026
FOREST GATE CONSTRUCTION CO LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activity of the company continued to be that of building contractors.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

T S Hosking
P R Reeves
S W Pockett
Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Future developments

The directors recognise the increasing importance of the effect that the company and its employees have upon the environment and the demands placed upon contractors by local authorities and clients in that area. The company follows the Environmental Management Scheme and achieved the ISO14001 accreditation again this year. This should continue to enable the company to widen its client base.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
T S Hosking
Director
23 April 2026
FOREST GATE CONSTRUCTION CO LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

The directors are responsible for preparing the annual report 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; and

- 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.

FOREST GATE CONSTRUCTION CO LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FOREST GATE CONSTRUCTION CO LTD
- 4 -
Opinion

We have audited the financial statements of Forest Gate Construction Co Ltd (the 'company') for the year ended 30 September 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport 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.

FOREST GATE CONSTRUCTION CO LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FOREST GATE CONSTRUCTION CO LTD (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's 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.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

FOREST GATE CONSTRUCTION CO LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FOREST GATE CONSTRUCTION CO LTD (CONTINUED)
- 6 -

Identifying and assessing potential risks related to irregularities

In identified and assessing risks of material misstatement in respect of irregularities, including fraud and

non-compliance with laws and regulations, we considered the following;

- The nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;

- results of our enquiries of Management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and review the company’s documentation of their policies and procedures relating to;

  - identifying, evaluating and complying with laws and regulation and whether they were aware of any instances of non-compliance;

  - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

  - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included the Employment law and the Health and Safety Act.

Audit response to risks identified

As a result of performing the above, we identified the management override of controls as a key audit matter related to the potential risk of fraud. Below we have described the specific procedures we performed in response to this key audit matter.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

FOREST GATE CONSTRUCTION CO LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FOREST GATE CONSTRUCTION CO LTD (CONTINUED)
- 7 -

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 an auditor's 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.

Ian Meaburn (Senior Statutory Auditor)
For and on behalf of Myers Clark, Statutory Auditor
Chartered Accountants
Suite 7A, Building 6
Croxley Park, Hatters Lane
Watford
Hertfordshire
WD18 8YH
1 June 2026
FOREST GATE CONSTRUCTION CO LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
19,362,191
13,104,298
Cost of sales
(16,241,553)
(10,290,561)
Gross profit
3,120,638
2,813,737
Administrative expenses
(1,711,983)
(1,644,144)
Other operating income
10,682
61,421
Operating profit
4
1,419,337
1,231,014
Interest receivable and similar income
7
182,925
174,149
Interest payable and similar expenses
8
(115)
(8,734)
Profit before taxation
1,602,147
1,396,429
Tax on profit
9
(400,789)
(353,039)
Profit for the financial year
1,201,358
1,043,390

The profit and loss account has been prepared on the basis that all operations are continuing operations.

FOREST GATE CONSTRUCTION CO LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
230,620
296,863
Current assets
Stocks
11
1,564,918
2,458,347
Debtors
12
1,027,881
794,538
Cash at bank and in hand
5,155,609
4,693,038
7,748,408
7,945,923
Creditors: amounts falling due within one year
13
(3,891,238)
(4,736,354)
Net current assets
3,857,170
3,209,569
Total assets less current liabilities
4,087,790
3,506,432
Provisions for liabilities
Deferred tax liability
14
50,000
62,000
(50,000)
(62,000)
Net assets
4,037,790
3,444,432
Capital and reserves
Called up share capital
16
46,000
46,000
Distributable profit and loss reserves
3,991,790
3,398,432
Total equity
4,037,790
3,444,432

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 23 April 2026 and are signed on its behalf by:
T S Hosking
Director
Company registration number 00451880 (England and Wales)
FOREST GATE CONSTRUCTION CO LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2023
46,000
4,855,042
4,901,042
Year ended 30 September 2024:
Profit and total comprehensive income
-
1,043,390
1,043,390
Transfer to EOT
16
-
0
(2,500,000)
(2,500,000)
Balance at 30 September 2024
46,000
3,398,432
3,444,432
Year ended 30 September 2025:
Profit and total comprehensive income
-
1,201,358
1,201,358
Transfer to EOT
16
-
0
(608,000)
(608,000)
Balance at 30 September 2025
46,000
3,991,790
4,037,790
FOREST GATE CONSTRUCTION CO LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
20
1,189,342
(131,544)
Interest paid
(115)
(8,734)
Income taxes paid
(281,879)
(475,719)
Net cash inflow/(outflow) from operating activities
907,348
(615,997)
Investing activities
Purchase of tangible fixed assets
(34,049)
(139,287)
Proceeds from disposal of tangible fixed assets
14,347
17,025
Repayment of loans
-
0
550,000
Interest received
182,925
174,149
Net cash generated from investing activities
163,223
601,887
EOT Transfer
(608,000)
(2,500,000)
Net increase/(decrease) in cash and cash equivalents
462,571
(2,514,110)
Cash and cash equivalents at beginning of year
4,693,038
7,207,148
Cash and cash equivalents at end of year
5,155,609
4,693,038
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
1
Accounting policies
Company information

Forest Gate Construction Co Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Sidney House, Christy Close, Southfields, Basildon, Essex, SS15 6TN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts are recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bas i s:

Fixtures, fittings & equipment
15% of net book value
Motor vehicles
25% of net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.7
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Sales
19,362,191
13,104,298
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
19,362,191
13,104,298
2025
2024
£
£
Other revenue
Interest income
182,925
174,149
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
13,000
13,500
Depreciation of tangible fixed assets
74,856
61,431
Loss/(profit) on disposal of tangible fixed assets
11,089
(7,919)
Operating lease charges
20,834
50,004
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
25
25

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,763,065
1,754,561
Social security costs
233,862
208,424
Pension costs
89,955
96,875
2,086,882
2,059,860
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
559,566
539,986
Company pension contributions to defined contribution schemes
63,585
70,882
623,151
610,868
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
296,636
284,431
Company pension contributions to defined contribution schemes
10,000
10,000
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
165,061
174,149
Other interest income
17,864
-
0
Total income
182,925
174,149
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
7
Interest receivable and similar income
(Continued)
- 17 -
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
165,061
174,149
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
115
8,734
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
412,789
329,039
Deferred tax
Origination and reversal of timing differences
(12,000)
24,000
Total tax charge
400,789
353,039

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,602,147
1,396,429
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
400,537
349,107
Tax effect of expenses that are not deductible in determining taxable profit
360
18,798
Tax effect of income not taxable in determining taxable profit
2,772
(1,980)
Permanent capital allowances in excess of depreciation
9,120
(36,886)
Deferred tax
(12,000)
24,000
Taxation charge for the year
400,789
353,039
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
10
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2024
71,361
414,818
486,179
Additions
20,204
13,845
34,049
Disposals
(4,236)
(48,980)
(53,216)
At 30 September 2025
87,329
379,683
467,012
Depreciation and impairment
At 1 October 2024
48,218
141,098
189,316
Depreciation charged in the year
5,711
69,145
74,856
Eliminated in respect of disposals
(3,565)
(24,215)
(27,780)
At 30 September 2025
50,364
186,028
236,392
Carrying amount
At 30 September 2025
36,965
193,655
230,620
At 30 September 2024
23,143
273,720
296,863
11
Stocks
2025
2024
£
£
Finished goods and goods for resale
1,564,918
2,458,347
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
754,476
705,760
Other debtors
189,185
2,874
Prepayments and accrued income
84,220
85,904
1,027,881
794,538
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 19 -
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,513,631
1,390,415
Corporation tax
149,344
18,434
Other taxation and social security
71,123
472,138
Other creditors
53,010
48,356
Accruals and deferred income
2,104,130
2,807,011
3,891,238
4,736,354
14
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
50,000
62,000
2025
Movements in the year:
£
Liability at 1 October 2024
62,000
Credit to profit or loss
(12,000)
Liability at 30 September 2025
50,000

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
89,955
96,875

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of of £1 each
46,000
46,000
46,000
46,000
FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
16
Share capital
(Continued)
- 20 -

The company has one class of ordinary shares, which carry proportionate voting and dividend rights as set out in the company’s Articles of Association. The shares carry no right to fixed income.

17
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
15,000
15,000
Years 2-5
45,000
60,000
60,000
75,000
As lessor - operating leases
2025
2024
Future amounts receivable under operating leases:
£
£
Within 1 year
-
0
6,666
18
Related party transactions
Remuneration of key management personnel

Other than the directors there are no other members of key management.

Other information

During the year the company paid rent of £20,83 4 (20 24: £50,004) to a connected company controlled by one of the Forest Gate Construction Co Ltd's directors.

At the year end a director owed the company £99 (2024: £99).

19
Controlling party

The ultimate controlling party is the Forest Gate Construction Employee Ownership Trust.

FOREST GATE CONSTRUCTION CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
20
Cash generated from/(absorbed by) operations
2025
2024
£
£
Profit for the year after tax
1,201,358
1,043,390
Adjustments for:
Taxation charged
400,789
353,039
Finance costs
115
8,734
Investment income
(182,925)
(174,149)
Loss/(gain) on disposal of tangible fixed assets
11,089
(7,919)
Depreciation and impairment of tangible fixed assets
74,856
61,431
Movements in working capital:
Decrease/(increase) in stocks
893,429
(1,750,285)
Increase in debtors
(233,343)
(144,449)
(Decrease)/increase in creditors
(976,026)
478,664
Cash generated from/(absorbed by) operations
1,189,342
(131,544)
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