REGISTERED NUMBER: 02692839 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 March 2025

for

Olympic Installations Limited

Trading as

Olympic Glass

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTOR:

G Jenkins

SECRETARY:

Ms S E Smith

REGISTERED OFFICE:

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

REGISTERED NUMBER:

02692839 (England and Wales)

AUDITORS:

Prestons

Chartered Accountants

Statutory Auditors

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The company continues to focus on the delivery of quality residential and glass products applied to windows, doors and roofs throughout the UK from the solid foundations the company has laid over the last 30 years, overcoming difficult trading conditions following Brexit, the Covid-19 pandemic, high levels of inflation, interest rates and tensions and global uncertainty with issues in the Middle East and Eastern Europe.

The company has continued to implement its long-term plans to fully automate the manufacturing process and in the financial year, invested £2.9 million in new machinery. The investment will significantly improve operational efficiencies and benefit from savings over the coming years in respect of man hours and wastage. The company anticipated the investment would cause factory downtime, in terms of the production operations, until the machinery as fully operational and budgeted for additional cost especially in terms of additional wages and administrative salary costs in the 2024-25 financial year. The company was also faced with tighter margins due to increased competition and weakness in the economy, leading to delayed decisions by consumers in replacing windows and doors. Despite the weak economy an implementation of the new machinery, the turnover of the company has remained consistent with the prior year.

The gross profit margin has decreased slightly this year due to an increase in staff costs due to the temporary disruption during the installation of the new machinery. However, the director is confident that this is only short-term.

The company is pleased to report that that machinery is now fully implemented and operating efficiently and the company is now seeing the benefits and savings it had envisaged prior to implementation in the current year.

In conjunction with the previous retention of reserves has allowed the business to withstand the challenging economic climate the company has faced and will continue to face over the coming years.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is exposed to risks within the supply chain and markets, however they are managed by analysis and early planning. The company has minimised its risks and uncertainties by seeking to provide innovative solutions within the industry and continually seeks to improve the products it supplies through automation.

CONCLUSION

The company's long-term vision for further automation, together with its strict capital discipline and continued support from the director, has enabled it to withstand the economic and industry uncertainties and challenges during the year.

ON BEHALF OF THE BOARD:

G Jenkins - Director

16 December 2025

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of sealed window manufacturers.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTOR

G Jenkins held office during the whole of the period from 1 April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company 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 director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Prestons, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G Jenkins - Director

16 December 2025

Opinion

We have audited the financial statements of Olympic Installations Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 March 2025 and of its 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.

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 company 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 director's 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 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

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, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the 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 director either intends to liquidate the company or to cease operations, or has 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement due to irregularities, including fraud, we considered the nature of company's operations, its industry environment and the control environment established by management. Olympic Installations Limited is a substantial manufacturer and supplier of processed glass products to the construction industry, with significant production, inventory and sales activity.

We obtained an understanding of the legal and regulatory framework applicable to the company, which includes UK company law, tax legislation, health and safety and environmental regulations relevant to glass manufacturing, and the applicable financial reporting framework. We considered how the company complies with these frameworks through discussions with management, review of internal documentation, and inspection of relevant regulatory correspondence.

In assessing the susceptibility of the company's financial statements to material misstatement, including fraud, we identified the following areas where the risk of irregularities was heightened given the company's operations:

- revenue recognition, including the accuracy of dispatch records, delivery confirmations and cut-off around the year-end;

- inventory existence and valuation, given the scale of production, the complexity of glass processing and the use of the automated glass-cutting machine implemented in the year;

- production costing and work-in-progress valuation arising from system changes and manual input requirements during the automation implementation;

- management override of controls, including manual stock adjustments and journal entries; and

- completeness of environmental, health and safety compliance matters that could affect financial statement disclosures.

Our procedures performed to address these risks included:

- evaluation of internal controls over order processing, production, inventory tracking and financial reporting;

- testing of revenue through inspection of customer orders, goods dispatched notes, delivery evidence and post-year-end receipts;

- attendance at inventory counts and testing of costing records, including review of outputs from the automated cutting machinery and any manual overrides;

- analytical review of gross margins, production yields, wastage levels and variances;

- journal entry testing focused on revenue, inventory, production costs and estimates;

- inquiries of management regarding known or suspected irregularities or non-compliance; and

- review of health and safety and environmental compliance documentation for indications of irregularities affecting the financial statements.

Because of the inherent limitations of an audit, there is a risk that not all irregularities, including fraud, will be detected, particularly where these involve collusion, deliberate concealment, override of controls or matters requiring significant judgement.

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.

Anwer Patel BA (Hons) FCA,BFP (Senior Statutory Auditor)

for and on behalf of Prestons

Chartered Accountants

Statutory Auditors

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

17 December 2025

TURNOVER

3

11,114,972

11,016,886

Cost of sales

7,795,692

7,355,761

GROSS PROFIT

3,319,280

3,661,125

Administrative expenses

2,986,732

2,927,325

332,548

733,800

Other operating income

1,043

699

OPERATING PROFIT

5

333,591

734,499

Interest receivable and similar income

326

129

333,917

734,628

Interest payable and similar expenses

6

25,717

11,892

PROFIT BEFORE TAXATION

308,200

722,736

Tax on profit

7

266,408

(183,250

)

PROFIT FOR THE FINANCIAL YEAR

41,792

905,986

PROFIT FOR THE YEAR

41,792

905,986

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

41,792

905,986

FIXED ASSETS

Tangible assets

9

5,611,432

2,754,931

CURRENT ASSETS

Stocks

10

457,843

496,729

Debtors

11

2,112,040

2,249,600

Cash at bank

73,626

230,717

2,643,509

2,977,046

CREDITORS

Amounts falling due within one year

12

2,937,031

2,344,278

NET CURRENT (LIABILITIES)/ASSETS

(293,522

)

632,768

TOTAL ASSETS LESS CURRENT LIABILITIES

5,317,910

3,387,699

CREDITORS

Amounts falling due after more than one year

13

(1,715,423

)

(93,412

)

PROVISIONS FOR LIABILITIES

16

(856,963

)

(590,555

)

NET ASSETS

2,745,524

2,703,732

CAPITAL AND RESERVES

Called up share capital

17

100

100

Retained earnings

18

2,745,424

2,703,632

SHAREHOLDERS' FUNDS

2,745,524

2,703,732

The financial statements were approved by the director and authorised for issue on 16 December 2025 and were signed by:

G Jenkins - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

100

2,061,646

2,061,746

Changes in equity

Dividends

-

(264,000

)

(264,000

)

Total comprehensive income

-

905,986

905,986

Balance at 31 March 2024

100

2,703,632

2,703,732

Changes in equity

Total comprehensive income

-

41,792

41,792

Balance at 31 March 2025

100

2,745,424

2,745,524

1.	STATUTORY INFORMATION

Olympic Installations 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

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net income receivable from sale of goods and services in the year, excluding value added tax.

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.

Short leasehold

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

5% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

Going concern

The total current liabilities exceed the total current assets of the company as at 31 March 2025. The director has confirmed that the company will have continuous support from the creditors. The director is confident that the company has sufficient resources to trade as a going concern. It is for these reasons the accounts have been prepared as a going concern basis.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31/3/25

31/3/24

£

£

Manufacturer of sealed units

11,114,972

11,016,886

11,114,972

11,016,886

4.	EMPLOYEES AND DIRECTORS

31/3/25

31/3/24

£

£

Wages and salaries

3,582,946

3,292,391

Social security costs

327,891

298,398

Other pension costs

72,690

67,635

3,983,527

3,658,424

The average number of employees during the year was as follows:

31/3/25

31/3/24

Directors

1

1

Central services

16

19

Managers

12

12

Factory

72

64

Drivers

13

12

114

108

31/3/25

31/3/24

£

£

Director's remuneration

321,382

288,217

Information regarding the highest paid director is as follows:

31/3/25

31/3/24

£

£

Emoluments etc

321,382

288,217

5.	OPERATING PROFIT

The operating profit is stated after charging:

31/3/25

31/3/24

£

£

Hire of plant and machinery

53,440

48,840

Depreciation - owned assets

179,272

151,391

Depreciation - assets on hire purchase contracts

135,958

49,349

Loss on disposal of fixed assets

41,825

112,745

Auditors' remuneration

9,000

8,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31/3/25

31/3/24

£

£

Other interest

-

370

Hire purchase

25,717

11,522

25,717

11,892

7.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

31/3/25

31/3/24

£

£

Current tax:

Overprovision in prior years

-

(290,500

)

Deferred tax

266,408

107,250

Tax on profit

266,408

(183,250

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31/3/25

31/3/24

£

£

Profit before tax

308,200

722,736

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

77,050

180,684

Effects of:

Expenses not deductible for tax purposes

2,255

2,417

Capital allowances in excess of depreciation

(265,127

)

-

Depreciation in excess of capital allowances

-

27,875

Overprovision in prior years

-

(290,500

)

Deferred tax

266,408

107,250

R&D claim

-

(210,976

)

Trading losses c/f

60,410

-

Surrendered to group

125,412

-

Total tax charge/(credit)

266,408

(183,250

)

8.

DIVIDENDS

31/3/25

31/3/24

£

£

Ordinary shares of £1 each

Interim

-

264,000

9.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2024

1,210

255,145

3,766,187

Additions

-

-

2,920,792

Disposals

-

-

(57,703

)

At 31 March 2025

1,210

255,145

6,629,276

DEPRECIATION

At 1 April 2024

384

41,818

1,700,069

Charge for year

24

5,103

184,159

Eliminated on disposal

-

-

(15,078

)

At 31 March 2025

408

46,921

1,869,150

NET BOOK VALUE

At 31 March 2025

802

208,224

4,760,126

At 31 March 2024

826

213,327

2,066,118

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

231,331

606,908

143,911

5,004,692

Additions

37,370

235,708

27,629

3,221,499

Disposals

-

(22,173

)

-

(79,876

)

At 31 March 2025

268,701

820,443

171,540

8,146,315

DEPRECIATION

At 1 April 2024

58,383

410,934

38,173

2,249,761

Charge for year

21,032

84,907

20,005

315,230

Eliminated on disposal

-

(15,030

)

-

(30,108

)

At 31 March 2025

79,415

480,811

58,178

2,534,883

NET BOOK VALUE

At 31 March 2025

189,286

339,632

113,362

5,611,432

At 31 March 2024

172,948

195,974

105,738

2,754,931