REGISTERED NUMBER: 03816408

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025

FOR

EUROPEAN TOUGHENED GLASS (MANCHESTER)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M S Johal

Mrs F Johal

SECRETARY:

Mrs F Johal

REGISTERED OFFICE:

European House

Abbey Point

Abbey Road

London

NW107DD

REGISTERED NUMBER:

03816408

AUDITORS:

Ward Divecha Limited

Chartered Accountants &

Statutory Auditors

29 Welbeck Street

London

W1G 8DA

FIXED ASSETS

Tangible assets

4

1,073,817

1,250,512

CURRENT ASSETS

Stocks

103,993

79,165

Debtors

5

842,529

1,718,604

Cash at bank and in hand

14,123

98,182

960,645

1,895,951

CREDITORS

Amounts falling due within one year

6

4,436,345

5,512,932

NET CURRENT LIABILITIES

(3,475,700

)

(3,616,981

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,401,883

)

(2,366,469

)

PROVISIONS FOR LIABILITIES

7

260,187

299,741

NET LIABILITIES

(2,662,070

)

(2,666,210

)

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

9

(2,672,070

)

(2,676,210

)

SHAREHOLDERS' FUNDS

(2,662,070

)

(2,666,210

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

M S Johal - Director

1.	STATUTORY INFORMATION

European Toughened Glass (Manchester) Limited is a private company, limited by shares , registered in Not specified/Other. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

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.

Tangible fixed 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.

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:

Plant and machinery

-

5% straight line

Fixtures and Fittings

-

15% reducing balance

Motor vehicles

-

25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

Pension costs and other post-retirement benefits

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.

Going concern

In accordance with their responsibilities, the directors have considered the appropriateness of the going

concern basis for the preparation of the financial statements.

For this purpose, the directors have considered the adequacy of the company's cash resources covering the

period 12 months ahead of the approval of these financial statements.

The directors have reasonable expectations that the company has adequate resources to continue in

operational existence. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2024

6,325,351

320,917

135,565

6,781,833

Additions

-

185

-

185

Disposals

(7,500

)

-

-

(7,500

)

Reclassification/transfer

(16,063

)

16,061

-

(2

)

At 30 April 2025

6,301,788

337,163

135,565

6,774,516

DEPRECIATION

At 1 May 2024

5,113,424

282,730

135,167

5,531,321

Charge for year

168,628

8,151

99

176,878

Eliminated on disposal

(7,500

)

-

-

(7,500

)

At 30 April 2025

5,274,552

290,881

135,266

5,700,699

NET BOOK VALUE

At 30 April 2025

1,027,236

46,282

299

1,073,817

At 30 April 2024

1,211,927

38,187

398

1,250,512

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

109,508

102,174

Amounts owed by group undertakings

227,855

715,586

Amounts owed by associates

331,832

106,256

Prepayments and accrued income

173,334

794,588

842,529

1,718,604

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Preference shares

40,000

40,000

Trade creditors

464,072

581,938

Amounts owed to group undertakings

3,260,082

3,348,616

Tax

41,787

57,382

Social security and other taxes

17,579

13,630

VAT

48,098

35,095

Other creditors

524,555

1,310,005

Accruals and deferred income

40,172

126,266

4,436,345

5,512,932

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

260,187

299,741

Deferred

tax

£

Balance at 1 May 2024

299,741

Provided during year

(39,554

)

Balance at 30 April 2025

260,187

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

Ordinary shares

£1

10,000

10,000

9.

RESERVES

Retained

earnings

£

At 1 May 2024

(2,676,210

)

Profit for the year

4,140

At 30 April 2025

(2,672,070

)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adil Divecha (Senior Statutory Auditor)

for and on behalf of Ward Divecha Limited

11.	RELATED PARTY DISCLOSURES

The company is less than 100% owned within the group. The company had the following transactions and balances with fellow group undertakings, namely:

At 30 April 2025, creditors, amounts falling due within one year, included amounts owed to group undertakings and undertakings in which the company has a participating interest, amounting to £3,260,340 (2024: £3,348,616), in respect of loans. The loans are interest free, unsecured and repayable on demand.

At 30 April 2025, debtors included amounts due from group undertakings amounting to £227,855 (2024: £715,586), in respect of loans. The loans are interest free, unsecured and repayable on demand.

At 30 April 2025, debtors included amounts due from related parties of £331,832 (2024: £106,256). The balances relate to loans to companies under common control. The loans are interest-free, unsecured and repayable on demand.

During the year, the company recognised income receivable amounting £419,902 (2024:£613,797), from related parties under common control.

12.	CONTROLLING PARTY

The company is an 80% owned subsidiary of European Glass Group Limited, a company registered in England & Wales and which prepares and files consolidated accounts. The registered office of European Glass Group Limited is European House, Abbey Point, Abbey Road, Park Royal, Greater London, England, NW10 7DD. The ultimate controlling interest is held by M Johal and F Johal in their capacity as The Trustees of The Trust that controls European Glass Group Limited.