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COMPANY REGISTRATION NUMBER: 02628441

Multi Glazing Systems Limited

Filleted Financial Statements

30 June 2025

Multi Glazing Systems Limited

Directors' Report

Year ended 30 June 2025
The directors present their report and the financial statements of the company for the year ended 30 June 2025 .
Directors
The directors who served the company during the year were as follows:

P Wright |
P Lewis |

Events after the end of the reporting period
Particulars of events after the reporting date are detailed in note 13 to the financial statements.
Directors' responsibilities statement
The directors are responsible for preparing the directors' report 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 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 judgments 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.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 3 March 2026 and signed on behalf of the board by:

P Lewis
Director

Registered office:
c/o Kaba
Lower Moor Way
Tiverton Business Park
Tiverton
England
United Kingdom
EX16 6SS

Multi Glazing Systems Limited

Statement of Financial Position

30 June 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 5 | 32,608 | 51,435

Current assets

Stocks | 244,001 | 212,855
Debtors | 6 | 618,997 | 633,887
Cash at bank and in hand | 913,195 | 496,577
| ------------ | ------------
| 1,776,193 | 1,343,319

Creditors: amounts falling due within one year | 7 | 500,030 | 564,849
| ------------ | ------------
Net current assets | 1,276,163 | 778,470
| ------------ | ---------
Total assets less current liabilities | 1,308,771 | 829,905

Provisions | 8 | 7,221 | 10,901
| ------------ | ---------
Net assets | 1,301,550 | 819,004
| ------------ | ---------

Capital and reserves

Called up share capital | 10 | 277 | 277
Share premium account | 11 | – | 239,862
Profit and loss account | 11 | 1,301,273 | 578,865
| ------------ | ---------
Shareholders funds | 1,301,550 | 819,004
| ------------ | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 3 March 2026 , and are signed on behalf of the board by:

P Lewis
Director

Company registration number: 02628441

Multi Glazing Systems Limited

Notes to the Financial Statements

Year ended 30 June 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Kaba, Lower Moor Way, Tiverton Business Park, Tiverton, England, EX16 6SS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
On 1 July 2025 all assets and liabilities of the company were transferred to Dormakaba UK Limited, the immediate parent company, as part of an agreement for the sale and purchase of business and assets intra group. The company ceased to trade on the same date.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant estimates or judgements have been made by management when preparing these accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Property improvements | - | 3 years
| Plant and machinery | - | 20% straight line
| Motor vehicles | - | 25% reducing balance
| Equipment | - | 20% straight line

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2024: 10 ).
Management charges comprise recharges from Dormakaba UK Limited in respect of wages and related employment costs of personnel employed by Dormakaba UK Limited who perform services on behalf of Multi Glazing Systems Limited .
5. Tangible assets

| Property improvements | Plant and machinery | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 July 2024 | 32,831 | 72,797 | 85,886 | 27,681 | 219,195
Additions | – | 5,940 | – | – | 5,940
Disposals | ( 1,223) | ( 273) | ( 69,262) | ( 1,796) | ( 72,554)
| -------- | -------- | -------- | -------- | ---------
At 30 June 2025 | 31,608 | 78,464 | 16,624 | 25,885 | 152,581
| -------- | -------- | -------- | -------- | ---------
Depreciation |  |  |  |  |
At 1 July 2024 | 25,679 | 53,385 | 68,450 | 20,246 | 167,760
Charge for the year | 3,429 | 4,796 | 862 | 1,691 | 10,778
Disposals | ( 1,223) | ( 273) | ( 55,273) | ( 1,796) | ( 58,565)
| -------- | -------- | -------- | -------- | ---------
At 30 June 2025 | 27,885 | 57,908 | 14,039 | 20,141 | 119,973
| -------- | -------- | -------- | -------- | ---------
Carrying amount |  |  |  |  |
At 30 June 2025 | 3,723 | 20,556 | 2,585 | 5,744 | 32,608
| -------- | -------- | -------- | -------- | ---------
At 30 June 2024 | 7,152 | 19,412 | 17,436 | 7,435 | 51,435
| -------- | -------- | -------- | -------- | ---------

6. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 471,333 | 490,483
Amounts owed by group undertakings | 1 | 1
Prepayments and accrued income | 16,880 | 16,880
Corporation tax repayable | 14,128 | 20,277
Other debtors | 116,655 | 106,246
| --------- | ---------
| 618,997 | 633,887
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 404,954 | 513,537
Amounts owed to group undertakings | 14,667 | 19,871
Accruals and deferred income | 80,409 | 28,525
Social security and other taxes | – | 2,916
| --------- | ---------
| 500,030 | 564,849
| --------- | ---------

8. Provisions

| Deferred tax (note 9)
| £
At 1 July 2024 | 10,901
Additions | ( 3,680)
| --------
At 30 June 2025 | 7,221
| --------

9. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions (note 8) | 7,221 | 10,901
| ------- | --------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2025 | 2024
| £ | £
Accelerated capital allowances | 7,221 | 10,901
| ------- | --------

10. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 202 | 202 | 202 | 202
A Ordinary shares of £ 1 each | 75 | 75 | 75 | 75
| ---- | ---- | ---- | ----
| 277 | 277 | 277 | 277
| ---- | ---- | ---- | ----

11. Reserves
Share premium account - On 11 September 2024 a resolution was passed to reduce the capital of the company which resulted in the share premium account being transferred to the profit and loss reserve. Profit and loss account - This reserve records retained earnings and accumulated losses.
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | – | 40,675
Later than 1 year and not later than 5 years | – | 139,337
Later than 5 years | – | 51,000
| ---- | ---------
| – | 231,012
| ---- | ---------

13. Events after the end of the reporting period
On 1 July 2025 all assets and liabilities of the company were transferred to Dormakaba UK Limited, the immediate parent company, as part of an agreement for the sale and purchase of business and assets intra group. The company ceased to trade on the same date.
14. Summary audit opinion
The auditor's report dated 3 March 2026 was unqualified .
The senior statutory auditor was Hannah Justice FCA FCCA , for and on behalf of TC Group .
15. Related party transactions
The company has taken advantage of the exemption under FRS 102 on the grounds that it is a wholly owned subsidiary of a group headed by Dormakaba Holdings AG whose financial statements are publicly available.
16. Controlling party
As at 30th June 2025 100% of the share capital is owned by Dormakaba UK Limited, a company registered in England and Wales. The registered office is c/o Kaba, Lower Moor Way, Tiverton Business Park, Tiverton, England, United Kingdom, EX16 6SS The Ultimate Parent Company is dormakaba Holding AG, a company incorporated in Switzerland. The registered office is Hofwisenstrasse 24, 8153 Rümlang, Switzerland.