REGISTERED NUMBER: 04043274 (England and Wales)

Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31 March 2025

for

Remiel Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTOR:

G Jenkins

SECRETARY:

Ms S E Smith

REGISTERED OFFICE:

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

REGISTERED NUMBER:

04043274 (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 of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

The group 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 group 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 group anticipated the investment would cause factory downtime, in terms of the production operations, until the machinery was fully operational and budgeted for additional cost especially in terms of additional wages and administrative salary costs in the 2024-25 financial year. The group 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 group 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 group is pleased to report that that machinery is now fully implemented and operating efficiently and the group 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 group is exposed to risks within the supply chain and markets, however they are managed by analysis and early planning. The group has also minimised its risks and uncertainties by seeks to provide innovative solutions within the industry and continually seeks to improve the products its supplies through automation.

CONCLUSION

The group's long-term vision for further automation, together with its strict capital discipline and continued support from the director, has enabled the group 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 and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of sealed window manufacturers and renting commercial property to its subsidiary company.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £118,316.

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 Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 director is 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 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 group'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 Remiel Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 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 March 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.

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 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 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 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 Group 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 Group 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 Group 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 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 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 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 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 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 director either intends to liquidate the group or the parent 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 the group's operations, which comprise Remiel Holdings Limited and its principal trading subsidiary Olympic Installations Limited. Olympic Installations Limited operates as a substantial manufacturer and supplier of glass products to the construction industry, and its activities form the significant majority of the group's revenue, production activity and operational risk.

We obtained an understanding of the relevant legal and regulatory frameworks applicable to the group, including UK company law, tax legislation, health and safety and environmental regulations governing glass fabrication and processing, and the financial reporting framework applicable to the group. We considered how the group is complying with these frameworks through discussions with management, review of internal documentation and inspection of regulatory correspondence.

We evaluated the susceptibility of the consolidated financial statements to material misstatement, including fraud, with particular focus on the activities of Olympic Installations Limited given its operational significance. Areas assessed as presenting heightened risk included:

- Revenue recognition within Olympic Installations Limited, given the high volume of customer orders, reliance on dispatch/delivery evidence and the potential for misstated cut-off.

- Inventory valuation and production costing arising from Olympic's manufacturing activities, particularly in light of the implementation of the automated glass-cutting machine during the year, which involved system changes, manual input points and an extended commissioning period.

- Management override of controls, including manual journal entries, stock adjustments, and consolidation entries.

- Consolidation processes, including elimination of intra-group transactions and allocation of central costs.

In response to these risks, our procedures included:

- inquiries of management and those charged with governance regarding known or suspected irregularities;

- evaluation of controls within Olympic Installations Limited over order processing, production workflows, dispatch, inventory tracking and financial reporting;

- testing of revenue, including inspection of customer orders, dispatch documentation, delivery confirmations and post-year-end receipts;

- attendance at Olympic's inventory counts and testing of costing records, including assessment of system outputs from the automated glass-cutting equipment and review of any manual overrides;

- analytical procedures on sales, production yields and gross margins;

- targeted journal entry testing, including consolidation journals and adjustments recorded at Olympic Installations Limited.

We also assessed compliance with relevant laws and regulations through review of regulatory correspondence, health and safety documentation, tax filings and industry-specific compliance requirements applicable to Olympic Installations Limited.

Because of the inherent limitations of an audit, there is a risk that not all irregularities, including fraud, will be detected. This risk is higher for irregularities involving collusion, deliberate concealment, forgery, override of controls, or areas of 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

11,148,350

11,040,311

Cost of sales

7,802,835

7,355,761

GROSS PROFIT

3,345,515

3,684,550

Administrative expenses

2,639,432

2,714,909

706,083

969,641

Other operating income

1,819

10,365

OPERATING PROFIT

4

707,902

980,006

Interest receivable and similar income

1,007

1,511

708,909

981,517

Interest payable and similar expenses

5

82,446

76,377

PROFIT BEFORE TAXATION

626,463

905,140

Tax on profit

6

222,657

(179,285

)

PROFIT FOR THE FINANCIAL YEAR

403,806

1,084,425

Profit attributable to:

Owners of the parent

403,806

1,084,425

PROFIT FOR THE YEAR

403,806

1,084,425

OTHER COMPREHENSIVE INCOME

Revaluation of freehold property

-

2,117,330

Depreciation eliminated on revaluation

-

297,226

Income tax relating to components of other comprehensive income

-

(591,182

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

1,823,374

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

403,806

2,907,799

Total comprehensive income attributable to:

Owners of the parent

403,806

2,907,799

FIXED ASSETS

Tangible assets

9

10,315,063

7,574,109

Investments

10

-

-

10,315,063

7,574,109

CURRENT ASSETS

Stocks

11

457,843

496,729

Debtors

12

2,699,591

2,603,932

Cash at bank

159,501

343,213

3,316,935

3,443,874

CREDITORS

Amounts falling due within one year

13

3,089,228

2,489,201

NET CURRENT ASSETS

227,707

954,673

TOTAL ASSETS LESS CURRENT LIABILITIES

10,542,770

8,528,782

CREDITORS

Amounts falling due after more than one year

14

(2,689,610

)

(1,183,769

)

PROVISIONS FOR LIABILITIES

18

(1,443,460

)

(1,220,803

)

NET ASSETS

6,409,700

6,124,210

CAPITAL AND RESERVES

Called up share capital

19

102

102

Revaluation reserve

20

1,773,547

1,773,547

Retained earnings

20

4,636,051

4,350,561

SHAREHOLDERS' FUNDS

6,409,700

6,124,210

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

G Jenkins - Director

FIXED ASSETS

Tangible assets

9

4,703,631

4,819,178

Investments

10

100

100

4,703,731

4,819,278

CURRENT ASSETS

Debtors

12

915,706

389,195

Cash at bank

85,875

112,496

1,001,581

501,691

CREDITORS

Amounts falling due within one year

13

480,352

179,786

NET CURRENT ASSETS

521,229

321,905

TOTAL ASSETS LESS CURRENT LIABILITIES

5,224,960

5,141,183

CREDITORS

Amounts falling due after more than one year

14

(974,187

)

(1,090,357

)

PROVISIONS FOR LIABILITIES

18

(586,497

)

(630,248

)

NET ASSETS

3,664,276

3,420,578

CAPITAL AND RESERVES

Called up share capital

19

102

102

Revaluation reserve

20

1,773,547

1,773,547

Retained earnings

20

1,890,627

1,646,929

SHAREHOLDERS' FUNDS

3,664,276

3,420,578

Company's profit for the financial year

362,014

442,439

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

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

102

3,129,209

247,400

3,376,711

Changes in equity

Dividends

-

(160,300

)

-

(160,300

)

Total comprehensive income

-

1,381,652

1,526,147

2,907,799

Balance at 31 March 2024

102

4,350,561

1,773,547

6,124,210

Changes in equity

Dividends

-

(118,316

)

-

(118,316

)

Total comprehensive income

-

403,806

-

403,806

Balance at 31 March 2025

102

4,636,051

1,773,547

6,409,700

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

102

1,067,563

247,400

1,315,065

Changes in equity

Dividends

-

(160,300

)

-

(160,300

)

Total comprehensive income

-

739,666

1,526,147

2,265,813

Balance at 31 March 2024

102

1,646,929

1,773,547

3,420,578

Changes in equity

Dividends

-

(118,316

)

-

(118,316

)

Total comprehensive income

-

362,014

-

362,014

Balance at 31 March 2025

102

1,890,627

1,773,547

3,664,276

Cash flows from operating activities

Cash generated from operations

1

1,230,469

497,721

Interest paid

(56,729

)

(64,855

)

Interest element of hire purchase payments paid

(25,717

)

(11,522

)

Tax paid

(2,786

)

159,034

Net cash from operating activities

1,145,237

580,378

Cash flows from investing activities

Purchase of tangible fixed assets

(3,114,332

)

(196,637

)

Sale of tangible fixed assets

7,943

-

Interest received

1,007

1,511

Net cash from investing activities

(3,105,382

)

(195,126

)

Cash flows from financing activities

Loan repayments in year

(124,599

)

(117,930

)

New HP contracts

2,235,115

33,668

Capital repayments in year

(215,747

)

(129,252

)

Amount withdrawn by directors

(20

)

16

Equity dividends paid

(118,316

)

(160,300

)

Net cash from financing activities

1,776,433

(373,798

)

(Decrease)/increase in cash and cash equivalents

(183,712

)

11,454

Cash and cash equivalents at beginning of year

2

343,213

331,759

Cash and cash equivalents at end of year

2

159,501

343,213

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

31/3/25

31/3/24

£

£

Profit before taxation

626,463

905,140

Depreciation charges

323,610

217,038

Loss on disposal of fixed assets

41,825

112,745

Finance costs

82,446

76,377

Finance income

(1,007

)

(1,511

)

1,073,337

1,309,789

Decrease/(increase) in stocks

38,886

(147,670

)

Increase in trade and other debtors

(118,134

)

(219,003

)

Increase/(decrease) in trade and other creditors

236,380

(445,395

)

Cash generated from operations

1,230,469

497,721

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 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

159,501

343,213

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

343,213

331,759

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

343,213

(183,712

)

159,501

343,213

(183,712

)

159,501

Debt

Finance leases

(210,343

)

(2,019,470

)

(2,229,813

)

Debts falling due within 1 year

(136,512

)

8,429

(128,083

)

Debts falling due after 1 year

(1,090,357

)

116,170

(974,187

)

(1,437,212

)

(1,894,871

)

(3,332,083

)

Total

(1,093,999

)

(2,078,583

)

(3,172,582

)

1.	STATUTORY INFORMATION

Remiel Holdings 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.

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 as modified by the revaluation of certain assets.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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.

Freehold property

-

not provided

Short leasehold

-

2% on cost and Straight line over 10 years

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 Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group'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.