IRIS Accounts Production v26.1.0.640 08220580 Board of Directors 1.4.25 31.3.26 31.3.26 false true true false false true true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 08220580 2025-03-31 08220580 2026-03-31 08220580 2025-04-01 2026-03-31 08220580 2024-03-31 08220580 2024-04-01 2025-03-31 08220580 2025-03-31 08220580 ns15:EnglandWales 2025-04-01 2026-03-31 08220580 ns14:PoundSterling 2025-04-01 2026-03-31 08220580 ns10:Director1 2025-04-01 2026-03-31 08220580 ns10:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 08220580 ns10:MediumEntities 2025-04-01 2026-03-31 08220580 ns10:Audited 2025-04-01 2026-03-31 08220580 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-04-01 2026-03-31 08220580 ns10:FullAccounts 2025-04-01 2026-03-31 08220580 ns10:OrdinaryShareClass1 2025-04-01 2026-03-31 08220580 ns10:Director2 2025-04-01 2026-03-31 08220580 ns10:RegisteredOffice 2025-04-01 2026-03-31 08220580 ns5:CurrentFinancialInstruments 2026-03-31 08220580 ns5:CurrentFinancialInstruments 2025-03-31 08220580 ns5:ShareCapital 2026-03-31 08220580 ns5:ShareCapital 2025-03-31 08220580 ns5:RetainedEarningsAccumulatedLosses 2026-03-31 08220580 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 08220580 ns5:ShareCapital 2024-03-31 08220580 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 08220580 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 08220580 ns5:RetainedEarningsAccumulatedLosses 2025-04-01 2026-03-31 08220580 ns10:HighestPaidDirector 2025-04-01 2026-03-31 08220580 ns10:HighestPaidDirector 2024-04-01 2025-03-31 08220580 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 08220580 ns5:ComputerEquipment 2025-03-31 08220580 ns5:ComputerEquipment 2026-03-31 08220580 ns5:ComputerEquipment 2025-03-31 08220580 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2026-03-31 08220580 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 08220580 ns10:OrdinaryShareClass1 2026-03-31 08220580 ns5:RetainedEarningsAccumulatedLosses 2025-03-31

REGISTERED NUMBER: 08220580 (England and Wales)

GREENLAM EUROPE (UK) LTD

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page |

Company Information | 1 |

Report of the Directors | 2 |

Report of the Independent Auditors | 4 |

Statement of Comprehensive Income | 7 |

Balance Sheet | 8 |

Statement of Changes in Equity | 9 |

Notes to the Financial Statements | 10 |

GREENLAM EUROPE (UK) LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2026

| DIRECTORS: | Mr S Mittal

| Mr V Sharma

| REGISTERED OFFICE: | 3 Brindley Place

| Brindley Place

| Birmingham

| West Midlands

| B1 2JB

| REGISTERED NUMBER: | 08220580 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Neil Smith FCA

| AUDITORS: | Folkes Worton LLP

| Chartered Accountants and Statutory Auditor

| 15-17 Church Street

| Stourbridge

| West Midlands

| DY8 1LU

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of import and distribution of high pressure laminates.

REVIEW OF BUSINESS

During the year ended 31 March 2026, Greenlam Europe (UK) Ltd continued to strengthen its position in the UK market as a distributor of high pressure laminates. The business delivered a resilient financial performance despite a modest reduction in turnover compared with the prior year, reflecting disciplined cost control, stable profitability, and continued demand across key customer segments.

Turnover for the year amounted to £15.37 million (2025: £16.68 million). While revenue declined year on year, gross profit increased to £2.46 million (2025: £2.39 million), with gross margin improving as a result of effective pricing discipline, improved sales mix, and tighter control of import and logistics costs. This demonstrates the Company's ability to protect margin in a competitive and cost sensitive trading environment.

Operating profit remained strong at £0.94 million (2025: £0.96 million), reflecting continued focus on overhead discipline. Administrative expenses increased in line with business activity, driven primarily by higher employee costs reflecting an increase in staff numbers to support operational capacity and service levels. Overall profitability remained stable, with profit after tax of £0.71 million (2025: £0.72 million), highlighting the consistency and resilience of the Company's operating model.

The balance sheet position strengthened further during the year. Net current assets increased to £0.73 million (2025: £0.68 million), supported by retained earnings growth and prudent working capital management. Inventory levels rose in line with business requirements and supply chain planning, particularly stock in transit, reflecting a proactive approach to availability and lead time management. Trade receivables remained well controlled, and the Company maintained sufficient liquidity to meet its obligations as they fell due.

The Company continued to generate positive cash flows from operations and maintained a strong commitment to shareholder returns. Dividends totalling £658,980 were declared during the year (2025: £1.04 million), reflecting confidence in the underlying performance and future prospects of the business.

The directors consider the Company to be well positioned to continue trading as a going concern. The business benefits from the ongoing support of its immediate and ultimate parent companies and operates within established facilities that are adequate to support foreseeable trading requirements. While the external trading environment remains uncertain, management remains focused on sustainable growth, margin protection, and operational efficiency in the year ahead.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2026 will be £ 658,980 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

Mr S Mittal

Mr V Sharma

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2026

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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). 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.

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr V Sharma - Director

18 May 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GREENLAM EUROPE (UK) LTD

Opinion

We have audited the financial statements of Greenlam Europe (UK) Ltd (the 'company') for the year ended 31 March 2026 which comprise the Statement of 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 2026 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GREENLAM EUROPE (UK) LTD

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 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; or

- | the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

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.

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

Based on our understanding of the group, the company and their industry, we identified the principal risks of non-compliance with laws and regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to:

- Revenue recognition;

- Existence and valuation of inventories;

- Existence and valuation of trade receivables;

- Existence and completeness of trade liabilities and accruals;

- Management override of controls;

- The posting of inappropriate journal entries to increase revenue or reduce expenditure;

- Management bias in accounting estimates and judgements; and

- Non-disclosure of transactions and balances with related parties.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GREENLAM EUROPE (UK) LTD

In response to the above identified risks, audit procedures were designed to enable us to arrive at appropriately drawn conclusions. These audit procedures include;

- Documentation of the invoice recording processes and agreement of a sample of income from source to the nominal entries;

- Verification with customers of the valuation of trade receivables;

- Verification with suppliers of the valuation of trade payables and accruals;

- Review and challenging of journal entries, in particular unusual transactions and account combinations;

- Challenging of assumptions and judgements made by management in their assessment of significant accounting estimates;

- Review of the list of related parties, discussion with management and review of the records of account; and

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.

Owing 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. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely it would be for the inherently limited procedures required by auditing standards to identify it. In addition, as with any audit, there remains a risk of not detecting irregularities as these may include collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. 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.

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.

Neil Smith FCA (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

18 May 2026

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

TURNOVER | 15,348,356 |  | 16,680,249 |  |

Cost of sales | 12,909,089 |  | 14,292,618 |  |

GROSS PROFIT | 2,439,267 |  | 2,387,631 |  |

Administrative expenses | 1,475,418 |  | 1,432,521 |  |

OPERATING PROFIT | 4 | 963,849 |  | 955,110 |  |

Interest receivable and similar income | 9,255 |  | - |  |

PROFIT BEFORE TAXATION | 973,104 |  | 955,110 |  |

Tax on profit | 5 | 243,276 |  | 238,778 |  |

PROFIT FOR THE FINANCIAL YEAR | 729,828 |  | 716,332 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 729,828 |  | 716,332 |  |

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

BALANCE SHEET

31 MARCH 2026

| 2026 |  | 2025

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 8 | 1,868,883 |  | 1,174,427 |  |

Debtors | 9 | 957,249 |  | 825,134 |  |

Cash at bank and in hand | 56,468 |  | 140,988 |  |

2,882,600 |  | 2,140,549 |  |

CREDITORS

Amounts falling due within one year | 10 | 2,136,220 |  | 1,465,017 |  |

NET CURRENT ASSETS | 746,380 |  | 675,532 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 746,380 |  | 675,532 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 188,280 |  | 188,280 |  |

Retained earnings | 12 | 558,100 |  | 487,252 |  |

SHAREHOLDERS' FUNDS | 746,380 |  | 675,532 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 18 May 2026 and were signed on its behalf by:

Mr V Sharma - Director

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2024 | 188,280 |  | 806,460 |  | 994,740 |  |

Changes in equity

Dividends | - |  | (1,035,540 | ) | (1,035,540 | ) |

Total comprehensive income | - |  | 716,332 |  | 716,332 |  |

Balance at 31 March 2025 | 188,280 |  | 487,252 |  | 675,532 |  |

Changes in equity

Dividends | - |  | (658,980 | ) | (658,980 | ) |

Total comprehensive income | - |  | 729,828 |  | 729,828 |  |

Balance at 31 March 2026 | 188,280 |  | 558,100 |  | 746,380 |  |

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1. | STATUTORY INFORMATION

| Greenlam Europe (UK) Ltd 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 exemptions 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;

| • | the requirement of paragraph 33.7.

| Revenue recognition

| Sales are recognised when control of the goods has transferred to its customer, being when the products are delivered to the customer, the customer has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the customer's acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the Company has objective evidence that all criteria for acceptance have been satisfied.

| Revenue from these sales is recognised based on the price specified in the contract, net of the estimated volume discounts. Accumulated experience is used to estimate and provide for the discounts, using the expected value method, and revenue is only recognised to the extent that it is highly probable that a significant reversal will not occur. A refund liability is recognised for expected volume discounts payable to customers in relation to sales made until the end of the reporting period.

| The Company's obligation to provide a refund for faulty products under the standard warranty terms is recognised as a contract liability. Provision is made for estimated warranty claims in respect of products sold which are still under warranty at the end of the reporting period. The claims are expected to be settled in the next financial year. A receivable (financial asset) is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before payment is due.

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Inventories

| Inventories are carried at the lower of cost and net realizable value. Cost comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Cost is determined using the first-in, first-out method. However, goods-in-transit due to its very nature is presented at cost. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

| When inventories are sold, the carrying amount of those inventories is recognised as an expense in the period in which the related revenue is recognised. The amount of any allowance for write-down of inventories to net realizable value and all losses of inventories are recognised as an expense in the period the write-down or loss occurs.

| At the end of each year Company identifies old and slow-moving inventories and makes provision for the same in the Income Statement. The amount of any reversal of any allowance made previously for write-down of inventories, arising from subsequent sales of such items to the extent of quantities sold is recognised as revenue in the income statement. The Company will keep the provision in the Accounts in Statement of Financial Position until such time the inventories are fully written off.

| Taxation

| Current income tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred income tax is recognised for all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction. A deferred income tax liability is recognised on temporary differences arising on investments in subsidiaries, associated companies and joint ventures, except where the Company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. A deferred income tax asset is recognised to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilised.

| Deferred income tax is measured:

| (a) at the tax rates that are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted by the Statement of Financial Position date; and

| (b) based on the tax consequence that will follow from the manner in which the Company expects, at the balance sheet date, to recover or settle the carrying amounts of its assets and liabilities except for investment properties. Investment property measured at fair value is presumed to be recovered entirely through sale.

| Current and deferred income taxes are recognised as income or expense in profit or loss, except to the extent that the tax arises from a business combination or a transaction which is recognised directly in equity. Deferred tax arising from a business combination is adjusted against goodwill on acquisition. The Company accounts for investment tax credits (for example, productivity and innovative credit) similar to accounting for other tax credits where deferred tax asset is recognised for unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax credit can be utilised.

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| (a) Functional and presentation currency

| The financial statements are presented in Sterling pounds, which is the functional currency of the Company.

| (b) Transactions and balances

| Transactions in a currency other than the functional currency ("foreign currency") are translated into the functional currency using the exchange rates at the dates of the transactions. Currency translation differences resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at the closing rates at the statement of financial position date are recognized in profit or loss.

| 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.

| (i) Lessee - Finance leases

| Leases where the Company assumes substantially all risks and rewards incidental to ownership of the leased assets are classified as finance leases. The leased assets and the corresponding lease liabilities (net of finance charges) under finance leases are recognised on the statement of financial position as plant and equipment and borrowings respectively, at the inception of the leases based on the lower of the fair value of the leased assets and the present value of the minimum lease payments. Each lease payment is apportioned between the finance expense and the reduction of the outstanding lease liability. The finance expense is recognised in profit or loss on a basis that reflects a constant periodic rate of interest on the finance

| lease liability.

| (ii) Lessee - Operating leases

| Leases where substantially all risks and rewards incidental to ownership are retained by the lessors are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessors) are recognised in profit or loss on a straight-line basis over the period of the lease. Contingent rents are recognised as an expense in profit or loss when incurred.

| Operating lease payment

| Payments made under operating leases (net of any incentives received from the lessor) are recognized in profit or loss on a straight-line basis over the period of the lease.

| Contingent rents are recognised as an expense in profit & loss when incurred.

| When a lease is terminated before the lease period expires, any payment made (or received) by the Company as penalty is recognised as an expense (or income) when termination takes place.

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| Employee benefits are recognized as an expense, unless the cost qualifies to be capitalized as an asset.

| (a) Defined contribution plans

| Defined contribution plans are post-employment benefit plans under which the Company pays fixed contributions into separate entities such as the Central Provident Fund on a mandatory, contractual or voluntary basis. The Company has no further payment obligations once the contributions have been paid.

| (b) Termination benefits

| Termination benefits are those benefits which are payable when employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Company recognises termination benefits when it is demonstrably committed at the earlier of the following dates: (a) when the Company is terminating the employment of current employees according to a detailed formal plan without possibility of withdrawing the offer of those benefits; and (b) when the Company recognises costs for a restructuring that is within the scope of IAS 37 and involves the payment of termination benefits.

| In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than 12 months after the end of the reporting period are discounted to their present value.

| (c) Employee leave entitlement

| Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to the statement of financial position date.

| Debtors

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price, including any transaction costs, and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Creditors

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of established cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Provisions and contingencies

| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

| Contingent liabilities are recognised as a provision when the likelihood of economic outflow is assessed as probable. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company's control. Contingent liabilities are not recognised as a provision but are instead disclosed in the financial statements when the likelihood of economic settlement is deemed possible and not probable. Contingent liabilities are not recognised as a disclosure when the probability of an outflow of resources is remote.

| Going concern

| The financial statements have been prepared on a going concern basis. The directors believe this to be appropriate as based on projected cash flows they consider the company can continue to trade for the foreseeable future within its existing facilities. The company is dependent on the continued support of the company's immediate parent company Greenlam Asia Pacific Pte Limited and the ultimate parent company Greenlam Industries Limited which have indicated their willingness to support the company.

| If the going concern basis is not appropriate, adjustments may be required to the financial statements to reduce the value of certain assets to their recoverable amounts and to provide for any further liabilities which may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

3. | EMPLOYEES AND DIRECTORS

| 2026 |  | 2025

£ | £ |

| Wages and salaries | 842,388 |  | 696,489 |  |

| Social security costs | 117,207 |  | 92,333 |  |

| Other pension costs | 5,231 |  | 3,427 |  |

964,826 |  | 792,249 |  |

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

3. | EMPLOYEES AND DIRECTORS - continued

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

| 2026 |  | 2025

| Administration | 7 |  | 5 |  |

| 2026 |  | 2025

£ | £ |

| Directors' remuneration | 441,000 |  | 441,000 |  |

| Information regarding the highest paid director is as follows:

| 2026 |  | 2025

£ | £ |

| Emoluments etc | 441,000 |  | 441,000 |  |

4. | OPERATING PROFIT

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

| 2026 |  | 2025

£ | £ |

| Other operating leases | 21,306 |  | 21,439 |  |

| Auditors' remuneration | 13,306 |  | 13,200 |  |

| Foreign exchange differences | (569 | ) | 280 |  |

5. | TAXATION

| Analysis of the tax charge

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

| 2026 |  | 2025

£ | £ |

| Current tax:

| UK corporation tax | 243,276 |  | 238,778 |  |

| Tax on profit | 243,276 |  | 238,778 |  |

6. | DIVIDENDS

| 2026 |  | 2025

£ | £ |

| Interim | 658,980 |  | 1,035,540 |  |

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

7. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 3,862 |  |

| DEPRECIATION

| At 1 April 2025

| and 31 March 2026 | 3,862 |  |

| NET BOOK VALUE

| At 31 March 2026 | - |  |

| At 31 March 2025 | - |  |

8. | STOCKS

2026 | 2025 |

£ | £ |

| Stock in transit | 1,791,899 |  | 1,128,823 |  |

| Finished goods | 76,984 |  | 45,604 |  |

1,868,883 |  | 1,174,427 |  |

9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2026 | 2025 |

£ | £ |

| Trade debtors | 949,526 |  | 807,977 |  |

| Other debtors | 1,531 |  | 11,007 |  |

| Prepayments and accrued income | 6,192 |  | 6,150 |  |

957,249 |  | 825,134 |  |

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

2026 | 2025 |

£ | £ |

| Trade creditors | 144,770 |  | 87,446 |  |

| Amounts owed to group undertakings | 868,793 |  | 8,700 |  |

| Tax | 26,285 |  | 126,002 |  |

| Social security and other taxes | 37,419 |  | 19,549 |  |

| VAT | 929,690 |  | 911,556 |  |

| Other creditors | 4,000 |  | 4,876 |  |

| Accrued expenses | 125,263 |  | 306,888 |  |

2,136,220 |  | 1,465,017 |  |

GREENLAM EUROPE (UK) LTD (REGISTERED NUMBER: 08220580)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2026

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2026 | 2025 |

| value: | £ | £ |

| 188,280 | Ordinary | £1 | 188,280 |  | 188,280 |  |

12. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2025 | 487,252 |  |

| Profit for the year | 729,828 |  |

| Dividends | (658,980 | ) |

| At 31 March 2026 | 558,100 |  |

13. | ULTIMATE CONTROLLING PARTY

| The immediate parent company is Greenlam Asia Pacific Pte Limited and the legal address is: 11 Sungei Kadut Crescent, Singapore. 728683.

| The ultimate parent company is Greenlam Industries Limited, India and the legal address is: Makum Road, P O Tinsukia, Tinsukia, Assam, 786125.