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REGISTERED NUMBER: 03530180 (England and Wales)

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 August 2025

for

Morley Glass & Glazing Limited

Morley Glass & Glazing Limited (Registered number: 03530180)

Contents of the Financial Statements

for the Year Ended 31 August 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 4 |

| Statement of Comprehensive Income | 7 |

| Balance Sheet | 8 |

| Statement of Changes in Equity | 9 |

| Cash Flow Statement | 10 |

| Notes to the Cash Flow Statement | 11 |

| Notes to the Financial Statements | 12 |

Morley Glass & Glazing Limited

Company Information

for the Year Ended 31 August 2025

| DIRECTORS: | I A Short

| K O Murphy

| SECRETARY: | J K Short

| REGISTERED OFFICE: | Unit 3

| Leeds 27 Industrial Estate

| Bruntcliffe Way

| Leeds

| West Yorkshire

| LS27 0HH

| REGISTERED NUMBER: | 03530180 (England and Wales)

| AUDITORS: | Malcolm Jones & Co Limited

| Statutory Auditors

| Accountants and Business Advisers

| West Hill House

| Allerton Hill

| Chapel Allerton

| Leeds

| West Yorkshire

| LS7 3QB

Morley Glass & Glazing Limited (Registered number: 03530180)

Strategic Report

for the Year Ended 31 August 2025

The directors present their strategic report for the year ended 31 August 2025.

REVIEW OF BUSINESS

2024/25 proved to be a challenging year for manufacturing, not least because of the continuing uncertainty and volatility caused in the wider economy in the run up to, and following the UK General Election. Stagnant growth across all sectors made it difficult to increase turnover but we are satisfied that we saw only a minimal reduction in turnover for the period and pleased that our cost-cutting measures helped to improve our gross profit.

PRINCIPAL RISKS AND UNCERTAINTIES

We remain proud of our financial stability and our strong liquidity position. We continue to face uncertainties around our Foreign Exchange requirements as sterling continues to face pressure on the world markets.

KEY PERFORMANCE INDICATORS

As noted above, our cost-cutting and efficiency measures have helped to obtain an improved gross margin this year, whilst still offering a streamlined service to our customer base.

Collaboration with our main supplier and their R&D Department will continue to ensure that we are able to remain as market leader within our sector.

FUTURE DEVELOPMENTS

We are hopeful that the coming financial year will see stability return to the economy alongside more favourable conditions in the manufacturing sector. Our presence at the major biennial trade show for our industry in 2025 helped maximise exposure of our product lines to our core target market.

ON BEHALF OF THE BOARD:

I A Short - Director

19 February 2026

Morley Glass & Glazing Limited (Registered number: 03530180)

Report of the Directors

for the Year Ended 31 August 2025

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

DIVIDENDS

An interim dividend of £15,306.12 per share was paid on 31 August 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 August 2025 will be £ 1,530,612 .

FUTURE DEVELOPMENTS

Likely future developments are discussed in the strategic report.

DIRECTORS

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

I A Short

K O Murphy

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company's auditors are unaware, and each director 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.

ON BEHALF OF THE BOARD:

I A Short - Director

19 February 2026

Report of the Independent Auditors to the Members of

Morley Glass & Glazing Limited

Opinion

We have audited the financial statements of Morley Glass & Glazing Limited (the 'company') for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 August 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 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 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 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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Morley Glass & Glazing Limited

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 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, 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 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 three, 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 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 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. As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout the audit.

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

We obtained an understanding of the legal and regulatory framework within which the company operates, focusing on those laws and regulations that directly effects how material balances are determined and also the disclosures in the financial statements. The laws and regulations considered by us in this context were the Companies Act 2006 and various taxation legislation.

We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be revenue and cost recognition and override of controls by management. Our audit procedures to respond to revenue and cost recognition risks included sample testing a sample of income/costs across the year to agree to supporting documentation and reviewing income and costs either side of the year end to ensure they have been recognised correctly. Our audit procedures to respond to management override risks included enquiries of management about their own identification and an assessment of the risks of irregularities, reviewing the posting of journals and reviewing the accounting estimates for bias.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Report of the Independent Auditors to the Members of

Morley Glass & Glazing Limited

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.

Andrew Wilkinson (Senior Statutory Auditor)

for and on behalf of Malcolm Jones & Co Limited

Statutory Auditors

Accountants and Business Advisers

West Hill House

Allerton Hill

Chapel Allerton

Leeds

West Yorkshire

LS7 3QB

19 February 2026

Morley Glass & Glazing Limited (Registered number: 03530180)

Statement of Comprehensive

Income

for the Year Ended 31 August 2025

| 31.8.25 |  | 31.8.24

| Notes | £ | £ |

TURNOVER | 26,794,056 |  | 27,184,809 |  |

Cost of sales | 20,845,785 |  | 21,820,092 |  |

GROSS PROFIT | 5,948,271 |  | 5,364,717 |  |

Administrative expenses | 3,718,731 |  | 3,819,437 |  |

OPERATING PROFIT | 4 | 2,229,540 |  | 1,545,280 |  |

Interest receivable and similar income | 143,517 |  | 137,599 |  |

2,373,057 |  | 1,682,879 |  |

Interest payable and similar expenses | 5 | 1 |  | 1,041 |  |

PROFIT BEFORE TAXATION | 2,373,056 |  | 1,681,838 |  |

Tax on profit | 6 | 265,164 |  | 219,322 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,107,892 |  | 1,462,516 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,107,892 |  | 1,462,516 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Balance Sheet

31 August 2025

| 31.8.25 | 31.8.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 556,639 |  | 752,808 |  |

CURRENT ASSETS

Stocks | 9 | 3,200,276 |  | 2,748,188 |  |

Debtors | 10 | 2,933,316 |  | 2,549,040 |  |

Cash at bank and in hand | 6,682,669 |  | 6,220,482 |  |

12,816,261 |  | 11,517,710 |  |

CREDITORS

Amounts falling due within one year | 11 | 5,909,941 |  | 5,326,974 |  |

NET CURRENT ASSETS | 6,906,320 |  | 6,190,736 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,462,959 |  | 6,943,544 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (81,600 | ) | (97,076 | ) |

PROVISIONS FOR LIABILITIES | 14 | (99,771 | ) | (142,160 | ) |

NET ASSETS | 7,281,588 |  | 6,704,308 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 100 |  | 100 |  |

Retained earnings | 16 | 7,281,488 |  | 6,704,208 |  |

SHAREHOLDERS' FUNDS | 7,281,588 |  | 6,704,308 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2026 and were signed on its behalf by:

I A Short - Director

Morley Glass & Glazing Limited (Registered number: 03530180)

Statement of Changes in Equity

for the Year Ended 31 August 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 September 2023 | 100 |  | 6,466,182 |  | 6,466,282 |  |

Changes in equity

Dividends | - |  | (1,224,490 | ) | (1,224,490 | ) |

Total comprehensive income | - |  | 1,462,516 |  | 1,462,516 |  |

Balance at 31 August 2024 | 100 |  | 6,704,208 |  | 6,704,308 |  |

Changes in equity

Dividends | - |  | (1,530,612 | ) | (1,530,612 | ) |

Total comprehensive income | - |  | 2,107,892 |  | 2,107,892 |  |

Balance at 31 August 2025 | 100 |  | 7,281,488 |  | 7,281,588 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Cash Flow Statement

for the Year Ended 31 August 2025

| 31.8.25 |  | 31.8.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,008,502 |  | 972,612 |  |

Interest paid | (1 | ) | (1,041 | ) |

Tax paid | (243,173 | ) | (382,080 | ) |

Net cash from operating activities | 1,765,328 |  | 589,491 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (75,167 | ) | (242,607 | ) |

Sale of tangible fixed assets | 3,000 |  | 4,334 |  |

Interest received | 143,516 |  | 137,599 |  |

Net cash from investing activities | 71,349 |  | (100,674 | ) |

Cash flows from financing activities

Amount introduced by directors | 780,612 |  | 624,490 |  |

Amount withdrawn by directors | (624,490 | ) | (780,612 | ) |

Equity dividends paid | (1,530,612 | ) | (1,224,490 | ) |

Net cash from financing activities | (1,374,490 | ) | (1,380,612 | ) |

Increase/(decrease) in cash and cash equivalents | 462,187 |  | (891,795 | ) |

Cash and cash equivalents at beginning of year | 2 | 6,220,482 |  | 7,112,277 |  |

Cash and cash equivalents at end of year | 2 | 6,682,669 |  | 6,220,482 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Cash Flow Statement

for the Year Ended 31 August 2025

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Profit before taxation | 2,373,056 |  | 1,681,838 |  |

| Depreciation charges | 271,336 |  | 330,714 |  |

| (Profit)/loss on disposal of fixed assets | (3,000 | ) | 1,066 |  |

| Finance costs | 1 |  | 1,041 |  |

| Finance income | (143,517 | ) | (137,599 | ) |

2,497,876 |  | 1,877,060 |  |

| (Increase)/decrease in stocks | (452,088 | ) | 307,055 |  |

| (Increase)/decrease in trade and other debtors | (271,573 | ) | 107,578 |  |

| Increase/(decrease) in trade and other creditors | 234,287 |  | (1,319,081 | ) |

| Cash generated from operations | 2,008,502 |  | 972,612 |  |

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 August 2025

| 31.8.25 |  | 1.9.24

£ | £ |

| Cash and cash equivalents | 6,682,669 |  | 6,220,482 |  |

| Year ended 31 August 2024

| 31.8.24 |  | 1.9.23

£ | £ |

| Cash and cash equivalents | 6,220,482 |  | 7,112,277 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.9.24 | Cash flow | At 31.8.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 6,220,482 |  | 462,187 |  | 6,682,669 |  |

6,220,482 |  | 462,187 |  | 6,682,669 |  |

| Total | 6,220,482 |  | 462,187 |  | 6,682,669 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements

for the Year Ended 31 August 2025

1. | STATUTORY INFORMATION

| Morley Glass & Glazing 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.

| Turnover

| Turnover represents amounts receivable for goods and services provided, net of value added tax.

| Revenue from the sale of goods is normally recognised on dispatch of goods. This is the point when the significant risks and rewards of ownership are passed to the customer, the amount of revenue can be reliably measured, it is probable that economic benefits associated with the transaction will flow to the entity and that costs incurred can be measured reliably.

| Revenue from contracts where there is a provision of services involved, is recognised on completion of a contract or, where a contract can be split into definable parts, when each part is fully completed.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Short leasehold | - | Over the term of the lease

| Plant and machinery | - | 15% on cost

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 20% on cost

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Stocks and work-in-progress

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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 Statement of Comprehensive Income, 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.

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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

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

| The benefits of lease incentives connected with property leases are recognised in the Statement of Comprehensive Income over the term of the leases.

| 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.

3. | EMPLOYEES AND DIRECTORS

| 31.8.25 |  | 31.8.24

£ | £ |

| Wages and salaries | 3,404,772 |  | 3,415,389 |  |

| Social security costs | 392,256 |  | 338,864 |  |

| Other pension costs | 124,433 |  | 105,758 |  |

3,921,461 |  | 3,860,011 |  |

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

| 31.8.25 |  | 31.8.24

| Directors | 2 |  | 2 |  |

| Production | 74 |  | 72 |  |

| Administration | 20 |  | 21 |  |

96 |  | 95 |  |

| 31.8.25 |  | 31.8.24

£ | £ |

| Directors' remuneration | 241,602 |  | 245,436 |  |

| Directors' pension contributions to money purchase schemes | 58,049 |  | 42,380 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 2 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

3. | EMPLOYEES AND DIRECTORS - continued

| Information regarding the highest paid director is as follows:

| 31.8.25 |  | 31.8.24

£ | £ |

| Emoluments etc | 147,512 |  | 147,643 |  |

| Pension contributions to money purchase schemes | 4,000 |  | 4,000 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 31.8.25 |  | 31.8.24

£ | £ |

| Hire of plant and machinery | 6,029 |  | 6,090 |  |

| Other operating leases | 268,371 |  | 272,164 |  |

| Depreciation - owned assets | 271,336 |  | 330,711 |  |

| (Profit)/loss on disposal of fixed assets | (3,000 | ) | 1,066 |  |

| Auditors' remuneration | 9,775 |  | 9,725 |  |

| The company's auditors were also paid £5,802 (2024 - £6,713) for tax advisory and other services, other than auditing of the company's accounts.

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.8.25 |  | 31.8.24

£ | £ |

| Other interest | 1 |  | 1,041 |  |

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 31.8.25 |  | 31.8.24

£ | £ |

| Current tax:

| UK corporation tax | 638,282 |  | 438,367 |  |

| Prior year tax | (330,730 | ) | (202,873 | ) |

| Total current tax | 307,552 |  | 235,494 |  |

| Deferred tax | (42,388 | ) | (16,172 | ) |

| Tax on profit | 265,164 |  | 219,322 |  |

| UK corporation tax has been charged at 25% (2024 - 25%).

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

6. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 31.8.25 |  | 31.8.24

£ | £ |

| Profit before tax | 2,373,056 |  | 1,681,838 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 593,264 |  | 420,460 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,630 |  | 1,735 |  |

| Adjustments to tax charge in respect of previous periods | (330,730 | ) | (202,873 | ) |

| Total tax charge | 265,164 |  | 219,322 |  |

7. | DIVIDENDS

| 31.8.25 |  | 31.8.24

£ | £ |

| Ordinary shares of £1 each

| Interim | 1,530,612 |  | 1,224,490 |  |

8. | TANGIBLE FIXED ASSETS

| Fixtures

| Short |  | Plant and |  | and

| leasehold |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 September 2024 | 216,433 |  | 1,467,626 |  | 257,679 |  |

| Additions | - |  | 75,167 |  | - |  |

| Disposals | - |  | - |  | - |  |

| At 31 August 2025 | 216,433 |  | 1,542,793 |  | 257,679 |  |

| DEPRECIATION

| At 1 September 2024 | 120,817 |  | 1,171,551 |  | 223,740 |  |

| Charge for year | 15,935 |  | 96,191 |  | 15,069 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 August 2025 | 136,752 |  | 1,267,742 |  | 238,809 |  |

| NET BOOK VALUE

| At 31 August 2025 | 79,681 |  | 275,051 |  | 18,870 |  |

| At 31 August 2024 | 95,616 |  | 296,075 |  | 33,939 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

8. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 September 2024 | 748,110 |  | 48,854 |  | 2,738,702 |  |

| Additions | - |  | - |  | 75,167 |  |

| Disposals | (76,172 | ) | - |  | (76,172 | ) |

| At 31 August 2025 | 671,938 |  | 48,854 |  | 2,737,697 |  |

| DEPRECIATION

| At 1 September 2024 | 437,882 |  | 31,904 |  | 1,985,894 |  |

| Charge for year | 138,491 |  | 5,650 |  | 271,336 |  |

| Eliminated on disposal | (76,172 | ) | - |  | (76,172 | ) |

| At 31 August 2025 | 500,201 |  | 37,554 |  | 2,181,058 |  |

| NET BOOK VALUE

| At 31 August 2025 | 171,737 |  | 11,300 |  | 556,639 |  |

| At 31 August 2024 | 310,228 |  | 16,950 |  | 752,808 |  |

9. | STOCKS

| 31.8.25 |  | 31.8.24

£ | £ |

| Stocks | 2,942,952 |  | 2,312,378 |  |

| Work-in-progress | 257,324 |  | 435,810 |  |

3,200,276 |  | 2,748,188 |  |

10. | DEBTORS

| 31.8.25 |  | 31.8.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 2,261,958 |  | 2,010,098 |  |

| Other debtors | - |  | 1,025 |  |

| Tax | 531,296 |  | 418,593 |  |

| Prepayments | 67,632 |  | 63,558 |  |

| Accrued income | 16,664 |  | - |  |

2,877,550 |  | 2,493,274 |  |

| Amounts falling due after more than one year:

| Other debtors | 55,766 |  | 55,766 |  |

| Aggregate amounts | 2,933,316 |  | 2,549,040 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.8.25 |  | 31.8.24

£ | £ |

| Trade creditors | 2,242,250 |  | 2,370,732 |  |

| Corporation tax | 419,082 |  | 242,000 |  |

| Social security and other taxes | 671,734 |  | 603,728 |  |

| Other creditors | 1,370,029 |  | 1,190,322 |  |

| Directors' current accounts | 780,612 |  | 624,490 |  |

| Accrued expenses | 426,234 |  | 295,702 |  |

5,909,941 |  | 5,326,974 |  |

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.8.25 |  | 31.8.24

£ | £ |

| Accruals and deferred income | 81,600 |  | 97,076 |  |

13. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.8.25 |  | 31.8.24

£ | £ |

| Within one year | 300,025 |  | 295,485 |  |

| Between one and five years | 1,055,418 |  | 262,948 |  |

| In more than five years | 135,917 |  | - |  |

1,491,360 |  | 558,433 |  |

14. | PROVISIONS FOR LIABILITIES

| 31.8.25 |  | 31.8.24

£ | £ |

| Deferred tax

| Accelerated capital allowances | 99,771 |  | 142,160 |  |

| Deferred |

| tax |

£ |

| Balance at 1 September 2024 | 142,160 |  |

| Credit to Statement of Comprehensive Income during year | (42,389 | ) |

| Balance at 31 August 2025 | 99,771 |  |

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.8.25 |  | 31.8.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

Morley Glass & Glazing Limited (Registered number: 03530180)

Notes to the Financial Statements - continued

for the Year Ended 31 August 2025

16. | RESERVES

| Retained

| earnings

£ |

| At 1 September 2024 | 6,704,208 |  |

| Profit for the year | 2,107,892 |  |

| Dividends | (1,530,612 | ) |

| At 31 August 2025 | 7,281,488 |  |

17. | RELATED PARTY DISCLOSURES

| Disclosures re members of Key Management Personnel:

| Dividends to Key Management Personnel - £780,612 (2024 - £624,490).

| Balances with Key Management Personnel: Creditors - £780,612 (2024 - £624,490).