REGISTERED NUMBER: 09553225 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 January 2025

for

The Boing Boing Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

G Morton

M C Elwell

Ms K J Hughes

M J Kelly

SECRETARY:

Ms K J Hughes

REGISTERED OFFICE:

8,9 & 10 Kelvin Way Trading Estate

Kelvin Way

West Bromwich

West Midlands

B70 7TN

REGISTERED NUMBER:

09553225 (England and Wales)

AUDITORS:

Locke Williams Associates LLP

Chartered Accountants

Registered Auditors

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

The directors present their strategic report of the company and the group for the year ended 31 January 2025.

REVIEW OF BUSINESS AND MARKET

1. Economic Context:

Birmingham's economy is thriving, with ongoing investments in infrastructure and housing developments.

This creates a robust demand for windows in both residential and commercial sectors.

2. Consumer Trends:

There is a growing preference for energy-efficient glazing to reduce energy bills and carbon footprints.

There is also a rising interest in smart windows with features like self-tinting and remote control.

3. Regulatory Landscape:

Compliance with UK energy efficiency standards, such as Part L of Building Regulations, is critical.

There is an increasing emphasis on sustainable materials and recycling initiatives.

PRINCIPAL RISKS AND UNCERTAINTIES

The key Challenges to the business are:

1. Cost Pressures: Rising raw material costs and inflation may impact profit margins.

2. Skilled Labour Shortage: A gap in skilled workers for manufacturing and installation.

3. Competition: Intense competition from both local and national players.

OPPORTUNITIES

1. Sustainability:

We will continue to invest in recycled materials and low-carbon manufacturing processes.

We will promote eco-friendly certifications to attract environmentally conscious consumers.

2. Smart Technology:

We can further develop and market smart window solutions to meet growing tech-savvy consumer demand.

3. Government Incentives:

We can leverage grants and subsidies for energy-efficient home improvements.

FUTURE PLANS

Our strategic recommendations include:

1. Marketing & Branding:

Highlight energy savings and environmental benefits in marketing campaigns.

Build a strong online presence to reach younger, tech-savvy demographics.

2. Workforce Development:

Collaborate with local colleges to create apprenticeship programs.

Upskill existing employees to handle advanced manufacturing techniques.

3. Local Partnerships:

Partner with Birmingham-based construction firms and housing developers.

Engage with local councils to supply windows for public projects.

ON BEHALF OF THE BOARD:

Ms K J Hughes - Director

25 September 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2025.

DIVIDENDS

Interim dividends per share were paid during the year as follows:

Ordinary A £1

-

£1808.55

Ordinary C £1

-

£3118.985

The total distribution of dividends for the year ended 31 January 2025 will be £ 228,291 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

G Morton

M C Elwell

Ms K J Hughes

Other changes in directors holding office are as follows:

M J Kelly was appointed as a director after 31 January 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms K J Hughes - Director

25 September 2025

Opinion

We have audited the financial statements of The Boing Boing Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

In the previous accounting period the directors of the company took advantage of audit exemption under s477 of the Companies Act. Therefore the prior period financial statements were not subject to audit.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

-

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud.

-

We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

-

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, FRS 102 and tax legislation.

-

We identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud.

-

Based on this understanding, our audit procedures included, but were not limited to, testing journals and other adjustments, considering the business rationale in relation to significant, unusual transactions and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to assumptions and judgements made by management.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Williams FCA FCCA (Senior Statutory Auditor)

for and on behalf of Locke Williams Associates LLP

Chartered Accountants

Registered Auditors

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

25 September 2025

TURNOVER

3

15,556,353

14,224,532

Cost of sales

10,577,621

9,841,930

GROSS PROFIT

4,978,732

4,382,602

Distribution costs

137,103

127,981

Administrative expenses

3,456,040

3,447,126

3,593,143

3,575,107

1,385,589

807,495

Other operating income

41,342

-

OPERATING PROFIT

5

1,426,931

807,495

Income from shares in group undertakings

-

143,075

Interest receivable and similar income

5,647

4,501

5,647

147,576

1,432,578

955,071

Interest payable and similar expenses

6

61,348

72,752

PROFIT BEFORE TAXATION

1,371,230

882,319

Tax on profit

7

346,406

187,471

PROFIT FOR THE FINANCIAL YEAR

1,024,824

694,848

Profit attributable to:

Owners of the parent

913,357

647,953

Non-controlling interests

111,467

46,895

1,024,824

694,848

PROFIT FOR THE YEAR

1,024,824

694,848

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,024,824

694,848

Total comprehensive income attributable to:

Owners of the parent

913,357

647,953

Non-controlling interests

111,467

46,895

1,024,824

694,848

FIXED ASSETS

Intangible assets

10

340

340

Tangible assets

11

1,273,169

1,498,645

Investments

12

-

-

1,273,509

1,498,985

CURRENT ASSETS

Stocks

13

932,170

888,699

Debtors

14

4,331,441

3,954,713

Cash at bank and in hand

531,810

100,224

5,795,421

4,943,636

CREDITORS

Amounts falling due within one year

15

3,550,519

3,382,806

NET CURRENT ASSETS

2,244,902

1,560,830

TOTAL ASSETS LESS CURRENT LIABILITIES

3,518,411

3,059,815

CREDITORS

Amounts falling due after more than one year

16

(256,244

)

(537,860

)

PROVISIONS FOR LIABILITIES

20

(317,549

)

(373,870

)

NET ASSETS

2,944,618

2,148,085

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

22

2,385,269

1,700,203

SHAREHOLDERS' FUNDS

2,385,369

1,700,303

NON-CONTROLLING INTERESTS

23

559,249

447,782

TOTAL EQUITY

2,944,618

2,148,085

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:

Ms K J Hughes - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

2,526,991

2,526,991

2,526,991

2,526,991

CURRENT ASSETS

Debtors

14

50

50

Cash at bank

239

2,442

289

2,492

CREDITORS

Amounts falling due within one year

15

2,027,850

2,432,833

NET CURRENT LIABILITIES

(2,027,561

)

(2,430,341

)

TOTAL ASSETS LESS CURRENT LIABILITIES

499,430

96,650

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

499,330

96,550

SHAREHOLDERS' FUNDS

499,430

96,650

Company's profit for the financial year

631,071

153,171

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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:

Ms K J Hughes - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1 February 2023

100

1,365,380

1,365,480

400,887

1,766,367

Changes in equity

Dividends

-

(313,130

)

(313,130

)

-

(313,130

)

Total comprehensive income

-

647,953

647,953

46,895

694,848

Balance at 31 January 2024

100

1,700,203

1,700,303

447,782

2,148,085

Changes in equity

Dividends

-

(228,291

)

(228,291

)

-

(228,291

)

Total comprehensive income

-

913,357

913,357

111,467

1,024,824

Balance at 31 January 2025

100

2,385,269

2,385,369

559,249

2,944,618

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

100

113,434

113,534

Changes in equity

Dividends

-

(170,055

)

(170,055

)

Total comprehensive income

-

153,171

153,171

Balance at 31 January 2024

100

96,550

96,650

Changes in equity

Dividends

-

(228,291

)

(228,291

)

Total comprehensive income

-

631,071

631,071

Balance at 31 January 2025

100

499,330

499,430

Cash flows from operating activities

Cash generated from operations

1

1,592,970

1,301,950

Interest paid

(16,186

)

(24,542

)

Interest element of hire purchase payments paid

(45,162

)

(48,210

)

Tax paid

5,136

(124,939

)

Net cash from operating activities

1,536,758

1,104,259

Cash flows from investing activities

Purchase of tangible fixed assets

(64,787

)

(179,902

)

Sale of tangible fixed assets

-

19,609

Interest received

5,647

4,501

Dividends received

-

143,075

Net cash from investing activities

(59,140

)

(12,717

)

Cash flows from financing activities

Loan repayments in year

(137,500

)

(100,000

)

Capital repayments in year

(208,285

)

(332,329

)

Amount introduced by directors

72,342

134,332

Amount withdrawn by directors

(130,246

)

(73,440

)

Equity dividends paid

(228,291

)

(313,130

)

Net cash flow from invoice financing

(184,522

)

(1,729

)

Net borrowings to/from related companies

(229,530

)

(310,267

)

Net cash from financing activities

(1,046,032

)

(996,563

)

Increase in cash and cash equivalents

431,586

94,979

Cash and cash equivalents at beginning of year

2

100,224

5,245

Cash and cash equivalents at end of year

2

531,810

100,224

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.1.25

31.1.24

£

£

Profit before taxation

1,371,230

882,319

Depreciation charges

288,121

306,006

Loss on disposal of fixed assets

2,142

18,641

Finance costs

61,348

72,752

Finance income

(5,647

)

(147,576

)

1,717,194

1,132,142

(Increase)/decrease in stocks

(43,471

)

65,852

(Increase)/decrease in trade and other debtors

(150,930

)

184,369

Increase/(decrease) in trade and other creditors

70,177

(80,413

)

Cash generated from operations

1,592,970

1,301,950

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

531,810

100,224

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

100,224

5,245

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.2.24

Cash flow

At 31.1.25

£

£

£

Net cash

Cash at bank and in hand

100,224

431,586

531,810

100,224

431,586

531,810

Debt

Finance leases

(615,312

)

208,285

(407,027

)

Debts falling due within 1 year

(1,419,207

)

214,522

(1,204,685

)

Debts falling due after 1 year

(130,833

)

107,500

(23,333

)

(2,165,352

)

530,307

(1,635,045

)

Total

(2,065,128

)

961,893

(1,103,235

)

1.	STATUTORY INFORMATION

The Boing Boing 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation

The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group (its subsidiaries). Control is achieved where the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in total comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent. All intra-group transactions, balances, income and expenses are eliminated in full on consolidation.

Turnover

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

Turnover is derived from the sale of goods, recognised on dispatch and falling within the group's ordinary activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

10% on cost and Over the period of the lease

Plant and machinery

-

10% on cost and 10% on reducing balance

Fixtures and fittings

-

20% on cost and 20% on reducing balance

Motor vehicles

-

25% on cost

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.

In the year, the policies have been revised to straight line, rather than reducing balance.