REGISTERED NUMBER: 11530254 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

GTG JOINERY SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr H G Georgiev

Mr JC Thorpe

REGISTERED OFFICE:

Unit D

Harrison Road

Airfield Business Park

Market Harborough

Leicestershire

LE16 7UL

REGISTERED NUMBER:

11530254 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mark Harrison BA FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

CURRENT ASSETS

Debtors

5

203,335

134,265

CREDITORS

Amounts falling due within one year

6

260,362

271,961

NET CURRENT LIABILITIES

(57,027

)

(137,696

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,027

)

(137,696

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(57,127

)

(137,796

)

(57,027

)

(137,696

)

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 26 February 2026 and were signed on its behalf by:

Mr JC Thorpe - Director

1.	STATUTORY INFORMATION

GTG Joinery Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

There were no areas in which the preparation of the financial statements required to make significant judgements or estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for sales of services provided in the normal course of business, net of discounts and value added tax, adjusted in accordance with the policy on contract income as described below.

The Company derives a significant proportion of its revenue from the supply of projects under contracts, some of which are fixed price contracts that may extend for a significant period of time. Where the outcome can be estimated reliably, contract revenue is recognised to the extent that the services have been performed. Performance is measured based on costs incurred to date as a percentage of total expected costs. Management judgement and experience is required to determine the completeness of those forecasts, the recoverability of the costs incurred and the revenue recognised on contracts. Unforeseen future events may adversely impact the accuracy of those forecasts and recoverability judgements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

33% on cost

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.

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Going concern

During the year ended 31 October 2025 the company incurred a profit for the year of £80,669 (2024: £29,429) and had net current liabilities at that date of £57,027 (2024: £137,696).

The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows, availability of group support and other mitigating actions that can be taken during that period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2024

and 31 October 2025

1,367

DEPRECIATION

At 1 November 2024

and 31 October 2025

1,367

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

17,504

Amounts owed by group undertakings

111,846

56,840

Other debtors

91,489

59,921

203,335

134,265

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

97,790

95,834

Trade creditors

28,160

71,186

Amounts owed to group undertakings

-

69,205

Taxation and social security

50,203

15,511

Other creditors

84,209

20,225

260,362

271,961

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

97,790

95,834

The bank overdraft is secured by way of fixed and floating charges over the undertaking and all property.

8.	DEFERRED TAX

£

Balance at 1 November 2024

(37,555

)

Provided during year

29,891

Balance at 31 October 2025

(7,664

)

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

The Report of the Auditors was unqualified.

Mark Harrison BA FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2025 and 31 October 2024:

2025

2024

£

£

Mr H G Georgiev

Balance outstanding at start of year

6,346

6,346

Amounts advanced

20,323

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

26,669

6,346

The loans are interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

At the year end the company was owed £111,846 (2024: Owed £69,205) by Thorpe's Joinery Limited. Management charges of £159,000 (2024:£149,533) were issued from GTG Joinery Solutions Limited to Thorpe's Joinery Limited.

At the year end the company was owed £Nil (2024: £56,840) by Thorpe's Flooring Limited.

Thorpe's Joinery Limited is a wholly owned subsidiary company of the parent company, Thorpe Interior Group Limited. Thorpe Interior Group Limited own 80% of Thorpe's Flooring Limited.

Thorpe Interior Group is the ultimate parent company of the group with further details disclosed on Note 13.

12.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Thorpe Interior Group Limited which is the only company to prepare consolidated financial statements which include the company.

The ultimate controlling party is Mr JC Thorpe by virtue of his majority shareholding in Thorpe Interior Group

Limited.

The registered address of Thorpe Interior Group Limited is Unit D Harrison Road, Airfield Business Park,

Market Harborough, Leicestershire, England, LE16 7UL and the consolidated financial statements can be

obtained from Companies House, Crown Way, Cardiff, CF14 3UZ

13.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company within an independently administered fund. The charge for the year was £3,128 (2024: £3,073).