REGISTERED NUMBER: 10623748 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

FORT MERCHANTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Kiely

T Gelardi

K M Fryer

REGISTERED OFFICE:

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

10623748 (England and Wales)

ACCOUNTANTS:

Cook & Partners Limited

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

4

659,630

544,046

Investments

5

51,300

51,300

710,930

595,346

CURRENT ASSETS

Stocks

633,555

620,121

Debtors

6

939,654

1,176,536

Cash at bank and in hand

43,455

47,137

1,616,664

1,843,794

CREDITORS

Amounts falling due within one year

7

1,348,127

1,677,538

NET CURRENT ASSETS

268,537

166,256

TOTAL ASSETS LESS CURRENT LIABILITIES

979,467

761,602

CREDITORS

Amounts falling due after more than one year

8

(351,575

)

(211,309

)

PROVISIONS FOR LIABILITIES

(124,980

)

(88,112

)

NET ASSETS

502,912

462,181

CAPITAL AND RESERVES

Called up share capital

100,003

100,003

Retained earnings

402,909

362,178

SHAREHOLDERS' FUNDS

502,912

462,181

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

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

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st July 2026 and were signed on its behalf by:

M J Kiely - Director

1.	STATUTORY INFORMATION

Fort Merchanting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Accounting convention

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.

Going Concern Justification

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 December 2025 have been prepared using the going concern basis of accounting.

Revenue

Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

15% on reducing balance

Computer equipment

-

20% on cost

Depreciation on Motor Vehicles was provided on a 20% of cost basis up until 31/12/2024 when it was revised to a 15% reducing balance basis, deemed by the directors as a more reasonable estimate in current economic conditions.

Stocks

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

Taxation

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Where assets are financed by leasing agreements that give rights approximately to ownership ("finance leases") the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned. The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation of leased assets is charged to the profit and loss account over the short of the lease terms and their useful lives. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

All other leases are treated as "operating leases" and the relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term; unless they relate to vacant leasehold properties in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard (1 January 2014) to continue to be charged over the period to the first market rent review rather than the term of the lease. For leases entered into on or after 1 January 2014, reverse premiums and similar incentives received to enter into operating lease agreements are released to profit or loss over the term of the lease.

Pension costs

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st January 2025

318,875

5,381

164,402

Additions

-

-

2,500

Disposals

-

-

-

At 31st December 2025

318,875

5,381

166,902

DEPRECIATION

At 1st January 2025

127,278

4,287

118,990

Charge for year

31,888

728

27,477

Eliminated on disposal

-

-

-

At 31st December 2025

159,166

5,015

146,467

NET BOOK VALUE

At 31st December 2025

159,709

366

20,435

At 31st December 2024

191,597

1,094

45,412

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2025

417,800

96,405

1,002,863

Additions

257,277

-

259,777

Disposals

(31,645

)

-

(31,645

)

At 31st December 2025

643,432

96,405

1,230,995

DEPRECIATION

At 1st January 2025

122,610

85,652

458,817

Charge for year

69,685

7,186

136,964

Eliminated on disposal

(24,416

)

-

(24,416

)

At 31st December 2025

167,879

92,838

571,365

NET BOOK VALUE

At 31st December 2025

475,553

3,567

659,630

At 31st December 2024

295,190

10,753

544,046

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2025

and 31st December 2025

51,300

NET BOOK VALUE

At 31st December 2025

51,300

At 31st December 2024

51,300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

576,316

746,792

Other debtors

363,338

429,744

939,654

1,176,536

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,000

15,000

Hire purchase contracts

121,167

79,390

Trade creditors

656,983

948,951

Taxation and social security

164,176

164,669

Other creditors

400,801

469,528

1,348,127

1,677,538

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

300,625

196,170

Other creditors

50,950

15,139

351,575

211,309