Fortoak Ltd 31/12/2025 iXBRL

Company registration number: 13473693

Fortoak Ltd

Unaudited filleted financial statements

31 December 2025

Fortoak Ltd

Contents

Directors and other information

Directors report

Accountant's report

Statement of financial position

Notes to the financial statements

Fortoak Ltd

Directors and other information


Directors	Mr S McCouaig
	Ms R Winward
	Mr A Vergopoulos	(Resigned 4th July 2025)


Company number	13473693


Registered office	Euro Business Park
	Summerton Road
	Oldbury
	B69 2EL


Business address	Euro Business Park
	Summerton Road
	Oldbury
	B69 2EL


Accountant	Jones and Co
	11b Newton Court
	Pendeford Business Park
	Wolverhampton
	WV9 5HB

Fortoak Ltd

Directors report

Year ended 31 December 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2025.

Principal Activities

The principal activity of the company during the year was the manufacture and wholesale distribution of paper rolls, labels, pads, packaging products and printed consumables, together with warehousing, fulfilment and logistics services. There were no significant changes in the nature of the company's activities during the year.

Review of the Business

The directors consider the company's performance during the year to be satisfactory in the face of challenging macroeconomic circumstances. The directors appreciate this is down to the hard work and commitments of our colleagues, stakeholders and loyal customers that made this possible. The company continued to focus on delivering high quality services to its clients whilst maintaining a prudent approach to financial management.

The company operated during a year of continued economic uncertainty. Market conditions were impacted by ongoing raw material price inflation and elevated import costs, particularly as a result of volatility in global container shipping rates. These factors continued to place pressure on margins across the sector.

The Company also experienced changing demand patterns within its core markets. Demand for traditional point-of-sale paper rolls continued to decline in line with wider industry trends and the increasing adoption of digital technologies. This was partially offset by continued growth in demand for labels across a broad range of industries, reflecting changing customer requirements and increased demand for identification, logistics and packaging solutions.

During the year, the Company completed the acquisition of UK Labels (UK Label Converting Ltd), representing a significant strategic milestone and further strengthening its position within the labels market. The acquisition has expanded the Company's manufacturing capabilities, product offering and customer base, providing a strong platform for future growth.

The Company also continued to invest in its operational infrastructure and business systems. This included achieving ISO certification, demonstrating its commitment to quality management and continuous improvement, together with the refurbishment and relocation of its offices and warehouse operations to the new Oldbury facility. These investments have enhanced operational efficiency and increased capacity to support the Company's continued development.

During the year, the Company incurred significant one-off costs associated with the acquisition, integration activities and relocation project. In addition, the Company continued to incur legal and professional costs in connection with ongoing proceedings relating to the alleged misappropriation of Company assets by former employees. The Directors remain committed to protecting the Company's interests and pursuing an appropriate resolution to these matters.

Notwithstanding these exceptional costs, the Directors believe the strategic investments made during the year have materially strengthened the Company's market position and provide a solid foundation for future growth.

Although turnover and profitability for the year were below management expectations, the results were significantly impacted by a number of one-off costs incurred during the year. The Directors are confident that the benefits arising from these investments, evident in the last few months of the financial year, will continue to be reflected in future trading performance and provide a solid foundation for sustainable long-term growth.

Directors

The directors who served the company during the year were as follows:


Mr S McCouaig
Ms R Winward
Mr A Vergopoulos				(Resigned 4th July 2025)

Future Developments

The Company intends to continue investing in its manufacturing and operational infrastructure, including new converting equipment and technology, to support efficiency and growth. Management will also continue to assess acquisition opportunities that align with the Company's strategic objectives and enhance its product and service offering. The directors remain confident in the Company's prospects and are focused on delivering sustainable growth in the years ahead.

The directors intend to continue the company's current activities and are confident in its future prospects. The company will continue to focus on strengthening client relationships, expanding service offerings where appropriate and maintaining operational efficiency.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 10 June 2026 and signed on behalf of the board by:

Mr S McCouaig

Director

Fortoak Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Fortoak Ltd

Year ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Fortoak Ltd for the year ended 31 December 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Fortoak Ltd, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Fortoak Ltd and state those matters that we have agreed to state to the board of directors of Fortoak Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Fortoak Ltd and its board of directors as a body for my work or for this report.

It is your duty to ensure that Fortoak Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fortoak Ltd. You consider that Fortoak Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Fortoak Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Jones and Co

11b Newton Court

Pendeford Business Park

Wolverhampton

WV9 5HB

10 June 2026

Fortoak Ltd

Statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	164,311		184,186
Tangible assets	6	20,570		12,834
		_______		_______
			184,881		197,020

Current assets
Stocks		440,234		665,772
Debtors	7	1,146,764		1,267,000
Cash at bank and in hand		74,817		105,534
		_______		_______
		1,661,815		2,038,306
Creditors: amounts falling due
within one year	8	( 1,738,236)		( 2,129,564)
		_______		_______
Net current liabilities			( 76,421)		( 91,258)
			_______		_______
Total assets less current liabilities			108,460		105,762


Provisions for liabilities			( 3,908)		( 2,438)

			_______		_______
Net assets			104,552		103,324
			_______		_______

Capital and reserves
Called up share capital			1,000		1,000
Share premium account			105,334		105,334
Profit and loss account			( 1,782)		( 3,010)
			_______		_______
Shareholders funds			104,552		103,324
			_______		_______

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

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 10 June 2026 , and are signed on behalf of the board by:

Mr S McCouaig

Director

Company registration number: 13473693

Fortoak Ltd

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Euro Business Park, Summerton Road, Oldbury, B69 2EL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 %	straight line
Intellectual Property	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	straight line
Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2024: 13 ).

5. Intangible assets

	Goodwill	Intellectual Property	Total
	£	£	£
Cost
At 1 January 2025 and 31 December 2025	194,014	2,364	196,378
	_______	_______	_______
Amortisation
At 1 January 2025	12,113	79	12,192
Charge for the year	19,402	473	19,875
	_______	_______	_______
At 31 December 2025	31,515	552	32,067
	_______	_______	_______
Carrying amount
At 31 December 2025	162,499	1,812	164,311
	_______	_______	_______
At 31 December 2024	181,901	2,285	184,186
	_______	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 January 2025	7,652	7,583	15,235
Additions	11,248	3,618	14,866
Disposals	-	( 543)	( 543)
	_______	_______	_______
At 31 December 2025	18,900	10,658	29,558
	_______	_______	_______
Depreciation
At 1 January 2025	945	1,456	2,401
Charge for the year	4,246	2,413	6,659
Disposals	-	( 72)	( 72)
	_______	_______	_______
At 31 December 2025	5,191	3,797	8,988
	_______	_______	_______
Carrying amount
At 31 December 2025	13,709	6,861	20,570
	_______	_______	_______
At 31 December 2024	6,707	6,127	12,834
	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	689,649	1,175,915
Other debtors	457,115	91,085
	_______	_______
	1,146,764	1,267,000
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	80,000	739,317
Trade creditors	1,076,588	987,642
Corporation tax	2,474	2,159
Social security and other taxes	162,100	366,936
Other creditors	417,074	33,510
	_______	_______
	1,738,236	2,129,564
	_______	_______

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
UK Label Converting Ltd	203,000	-	203,000	-
	_______	_______	_______	_______