How much does Forsyth of Denny Limited make?

Forsyth of Denny Limited reported revenue of £23.3m and £1.6m profit in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Forsyth of Denny Limited have?

Forsyth of Denny Limited reported an average of 114 employees in the year to 31 Dec 2025.

Is Forsyth of Denny Limited profitable?

Yes — Forsyth of Denny Limited reported a profit of £1.6m in the year to 31 Dec 2025.

Company No. SC105626 · Incorporated 13 Jul 1987

Forsyth of Denny Limited

Registered name: FORSYTH OF DENNY LIMITED

Part of Easterton Holdings Limited group

Forsyth of Denny Limited made £23.3m revenue and £1.6m profit in the year to 31 Dec 2025. read from filing text

Forsyth of Denny Limited’s revenue grew 7% to £23.3m in the year to 31 Dec 2025, with £1.6m profit and 114 employees. The company is classified under “other specialised construction activities” and is based in Stirling; we hold 3 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 43999Other specialised construction activities n.e.c.SIC 49410Freight transport by road

Status: Active
Location: Stirling, Scotland
Age: 39 yrs · since 1987
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently. From the filing: “Easterton Holdings Limited owns 100% of the share capital and is the ultimate parent company.”

Latest accounts · year to 31 Dec 2025

Key figures

Boring industryCash flow filed

Revenue

£23.3m

Growth ▲6.6%

Profit

£1.6m

Growth ▲3.9%

Profit margin

6.8%

Gross 15.9%

Employees

114

Change ▲4.6%

Profit / employee

£13.9k

Revenue/employee £205k

Profitable streak

3yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2023	31 Dec 2024	31 Dec 2025
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£20m	£21.9m	£23.3m
Cost of sales	£16.1m	£17.4m	£19.6m
Gross profit	£3.9m	£4.5m	£3.7m
Operating profit	£2.6m	£2.6m	£2.7m
Profit before tax	£2.2m	£2.2m	£2.2m
Profit after tax	£1.4m	£1.5m	£1.6m
Profit (best available)	£1.4m	£1.5m	£1.6m
Staff costs	£6.7m	£7.8m	£8.8m
Employees (average)	101	109	114
Ratios
Profit margin	7.1%	7%	6.8%
Gross margin	19.4%	20.6%	15.9%
Revenue per employee	£198k	£201k	£205k
Profit per employee	£14.1k	£14k	£13.9k
Cash conversion	−206.3%	−240.9%	−189.6%
Growth (year on year)
Revenue growth	—	▲9.6%	▲6.6%
Profit growth	—	▲7.2%	▲3.9%
Headcount growth	—	▲7.9%	▲4.6%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.2m	£955k	£1.4m
Net assets	£9.9m	£11.4m	£13m
Fixed assets	£19.8m	£22m	£25.1m
Current assets	£5.4m	£4.7m	£5m
Debtors	£3.8m	£3.3m	£3.1m
Deferred income	£218k	£152k	£472k
Cash from operations	−£5.3m	−£6.3m	−£5.1m
Source	FullAccounts · bulk data Jul 2025	FullAccounts · bulk data Jul 2025	FullAccounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: 6.8%; Profit ÷ revenue.
Gross margin: 15.9%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £205k; Revenue ÷ average employees.
Profit per employee: £13.9k; Profit ÷ average employees.
Cash conversion: −189.6%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 107.5%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 13.1%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▲14%; Now £13m
Cash at bank: ▲44%; Now £1.4m
Headcount: ▲5%; Now 114
Deferred income: ▲210%; Now £472k
Fixed assets: ▲14%; Now £25.1m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Easterton Holdings Limitedultimate parent75–100%
Forsyth of Denny Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (2)

Towercrane Services LimitedFigures not disclosed
Ulster Energy LimitedFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £1.6m), from the Companies House accounts bulk data published Jul 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.