REGISTERED NUMBER: 05717094 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

P J B GLASS GROUP LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L Barrell

D A Stoker

G Martin

REGISTERED OFFICE:

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

BUSINESS ADDRESS:

Unit C

Cronin Road

Weldon South Industry

Corby

Northamptonshire

NN18 8AQ

REGISTERED NUMBER:

05717094 (England and Wales)

AUDITORS:

Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

FIXED ASSETS

Tangible assets

4

1,039,114

822,116

Investments

5

1,116

1,116

1,040,230

823,232

CURRENT ASSETS

Stocks

219,835

257,099

Debtors

6

744,329

376,118

964,164

633,217

CREDITORS

Amounts falling due within one year

7

1,458,189

767,299

NET CURRENT LIABILITIES

(494,025

)

(134,082

)

TOTAL ASSETS LESS CURRENT LIABILITIES

546,205

689,150

CREDITORS

Amounts falling due after more than one year

8

(291,641

)

(239,478

)

PROVISIONS FOR LIABILITIES

11

-

(118,438

)

NET ASSETS

254,564

331,234

CAPITAL AND RESERVES

Called up share capital

12

116

116

Revaluation reserve

13

322,165

322,165

Capital contribution

2,000,000

1,000,000

Retained earnings

(2,067,717

)

(991,047

)

SHAREHOLDERS' FUNDS

254,564

331,234

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

G Martin - Director

1.	STATUTORY INFORMATION

P J B Glass Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 as modified by the revaluation of certain assets.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about P J B Glass Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Oriole Glass Holdings Limited, Eagle House, 28 Billing Road, Northampton, Northants, NN1 5AJ.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

5% - 20% on cost

Fixtures and fittings

-

33% - 100% on cost

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Plant and machinery is revalued on a five year cycle. Due to the nature of the machinery the directors consider the revaluation cycle to be sufficient regularity to ensure that the carrying value does not materially differ from the fair value of the assets.

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 Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments in subsidiaries

Investments in subsidiaries are initially recorded at cost. Where an acquisition satisfies the provisions of section 612 of the Companies Act 2006 for merger relief, the investment is stated at the nominal value of shares issued plus the fair value of any other consideration.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

2,036,364

55,562

2,091,926

Additions

275,651

5,366

281,017

At 31 December 2024

2,312,015

60,928

2,372,943

DEPRECIATION

At 1 January 2024

1,240,364

29,446

1,269,810

Charge for year

55,972

8,047

64,019

At 31 December 2024

1,296,336

37,493

1,333,829

NET BOOK VALUE

At 31 December 2024

1,015,679

23,435

1,039,114

At 31 December 2023

796,000

26,116

822,116

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Valuation in 2023

322,165

-

322,165

Cost

1,989,850

60,928

2,050,778

2,312,015

60,928

2,372,943

If plant and machinery had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

1,989,850

1,714,199

Aggregate depreciation

1,240,364

1,240,364

Plant and machinery was valued on a fair value basis on 31 December 2023 by Sanderson Weatherall LLP .

The net book value of tangible fixed assets include £514,485 (2023 - £18,939) in respect of assets held under hire purchase contracts.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

1,116

NET BOOK VALUE

At 31 December 2024

1,116

At 31 December 2023

1,116

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

498,690

342,116

Provision for doubtful debts

(4,875

)

-

Other debtors

215,000

-

Tax

-

6,241

Prepayments and accrued income

35,514

27,761

744,329

376,118

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

852,011

265,213

Hire purchase contracts (see note 9)

71,023

38,761

Trade creditors

423,338

244,742

Amounts owed to group undertakings

33,102

139,301

Social security and other taxes

40,592

30,950

VAT

2,885

20,764

Other creditors

9,727

12,722

Accruals and deferred income

25,511

14,846

1,458,189

767,299

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,661

10,000

Bank loans - 2-5 years

-

5,785

Hire purchase contracts (see note 9)

285,980

223,693

291,641

239,478

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

71,023

38,761

Between one and five years

285,980

223,693

357,003

262,454

Non-cancellable

operating leases

2024

2023

£

£

Within one year

157,942

157,942

Between one and five years

469,788

613,661

627,730

771,603

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

842,011

255,213

Hire purchase contracts

357,003

262,454

1,199,014

517,667

Net obligations under lease purchase contracts are secured on the assets concerned.

The security for bank overdraft is stated in note 16 of these financial statements.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

-

118,438

Deferred

tax

£

Balance at 1 January 2024

118,438

Credit to Income Statement during year

(118,438

)

Balance at 31 December 2024

-

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

5

Ordinary A

£1

111

111

111

Ordinary

£1

5

5

116

116

13.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

322,165

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Clifford (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

15.	CONTINGENT LIABILITIES

The bank borrowings are negotiated on a group basis and there are unlimited cross guarantees in place between PJB Glass Group Limited, the parent company Uniglass Limited and a subsidiary company Origlass UK Limited in respect of the relevant individual company liabilities. The group overdraft facility is also secured by a debenture over the assets of the company.

16.	CAPITAL COMMITMENTS

2024

2023

£

£

Contracted but not provided for in the

financial statements

95,855

-

17.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Related Party Disclosure, not to disclose related party transactions or balances with wholly owned subsidiaries within the group.

18.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Uniglass Limited and ultimate parent undertaking is Oriole Glass Holdings Limited, a company registered in the United Kingdom.

The largest and smallest group in which the company's results are consolidated is Oriole Glass Holdings Limited. A copy of the group accounts can be obtained from Oriole Glass Holdings Limited, whose registered office is Eagle House, 28 Billing Road, Northampton, NN1 5AJ.