FORGEWAY LTD

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PKF Francis Clark

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have reviewed forecasts and projections, which take into account possible changes in trading performance, such as potential increases in stock levels and potential cost increases in raw materials throughout the remainder of 2025. Following this review and having made all necessary enquiries, based on the information available to date the directors are satisfied that the company is expected to maintain sufficient cash balances to meet working capital requirements and scheduled borrowing repayments for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors continue to adopt the going concern basis of presentation.”

Significant events

• “2024 started well with sales achieving prediction and budget but this was not maintained during Q3/4 as there was market uncertainty leading up to the general election and post-election.”
• “Moving some of our production and packing operations to the new Facility at Exeter resulted in high recruitment, set up and training costs as well as some redundancy costs.”
• “A strategic decision to focus on specialist markets and applications led to high R+D costs but the long-term plan is higher margin products to specified / certified application areas.”
• “At 31 December 2024 the company was in breach of a financial covenant set by its bankers in respect of the outstanding loans. The entire loan balance is therefore shown in current liabilities.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -6.1%

  £14,290,250 → £13,420,453

• Cash

  +24.5%

  £749,581 → £932,918

• Net assets

  -6.2%

  £3,406,531 → £3,195,835

• Employees

  -1.5%

  66 → 65

• Operating profit

  +81.6%

  £80,503 → £146,192

• Profit before tax

  +398.8%

  -£16,894 → £50,486

• Wages

  +2.9%

  £2,121,374 → £2,182,487

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers