Company registration number 06737753 (England and Wales)
FIRE GLASS UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
FIRE GLASS UK LIMITED
COMPANY INFORMATION
Directors
M R Buxton
S C P Haynes
Secretary
M R Buxton
Company number
06737753
Registered office
International House
Millfield Lane
Haydock
Merseyside
United Kingdom
WA11 9GA
Auditor
Azets Audit Services
Ship Canal House
98 King Street
Manchester
M2 4WU
Bankers
Natwest Bank PLC
309 High Street
West Bromwich
West Midlands
United Kingdom
B70 8LX
Solicitors
Addleshaw Goddard LLP
One St Peters Square
Manchester
United Kingdom
M2 3DE
FIRE GLASS UK LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Notes to the financial statements
9 - 21
FIRE GLASS UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Review of the business

The Company has seen turnover of £32.3m this year compared to £31.4m for the year ended 31 December 2024. This is an increase of 3% on the previous year.

Operating profit has decreased to £3,933,062 compared to £3,985,972 for the previous year driven by increased costs.

Principal risks and uncertainties

Despite continued market uncertainty in the UK, the company has continued to trade strongly, with an increased market share and revenue growth. The Board are confident that the Company will continue this trajectory in pursuit of its strategic objectives.

The Board believes that any potential uncertainty in the macro-​economic environment will be more than outweighed by significant investments for growth, including new equipment and international expansion.

The Company will also continue to diversify the dependence on certain suppliers to ensure that we have a broad range of alternatives to counter ongoing increases in input costs and to protect continuity of supply into our manufacturing plants.

Financial key performance indicators

The company considers a wide range of key performance indicators in the operation of our business. Ultimately it considers Sales and Operating Profit as the two principal financial measures. In comparison with the previous accounting period these are as follows:

Key Performance Indicator Year ended 31 December 2025 Year ended 31 December 2024

Sales £32,293,243 £31,388,083

Operating Profit £3,933,062 £3,985,972

On behalf of the board

M R Buxton
Director
14 May 2026
FIRE GLASS UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be the supply of glazing products to the construction industry.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M R Buxton
S C P Haynes
N A Tilsley
(Resigned 9 January 2026)
Auditor

The auditor, Azets Audit Services, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual 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 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; and

- 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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

FIRE GLASS UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
On behalf of the board
M R Buxton
Director
14 May 2026
FIRE GLASS UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FIRE GLASS UK LIMITED
- 4 -
Opinion

We have audited the financial statements of Fire Glass UK Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including 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 December 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

FIRE GLASS UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FIRE GLASS UK LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's report 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

FIRE GLASS UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FIRE GLASS UK LIMITED (CONTINUED)
- 6 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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 an auditor's report 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 Reddington (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Ship Canal House
98 King Street
Manchester
M2 4WU
15 May 2026
FIRE GLASS UK LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
32,293,243
31,388,083
Cost of sales
(18,460,422)
(18,042,888)
Gross profit
13,832,821
13,345,195
Administrative expenses
(10,139,813)
(9,585,786)
Other operating income
3
240,054
226,563
Operating profit
5
3,933,062
3,985,972
Interest payable and similar expenses
8
(95,799)
(95,382)
Profit before taxation
3,837,263
3,890,590
Tax on profit
9
(1,096,547)
(891,464)
Profit for the financial year
2,740,716
2,999,126
Retained earnings brought forward
13,630,251
10,631,125
Retained earnings carried forward
16,370,967
13,630,251

The profit and loss account has been prepared on the basis that all operations are continuing operations.

FIRE GLASS UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
1,294,086
1,875,144
Current assets
Stocks
12
2,012,000
1,913,818
Debtors
13
17,106,148
14,196,874
Cash at bank and in hand
75,934
276,727
19,194,082
16,387,419
Creditors: amounts falling due within one year
14
(3,380,055)
(3,679,190)
Net current assets
15,814,027
12,708,229
Total assets less current liabilities
17,108,113
14,583,373
Creditors: amounts falling due after more than one year
15
(429,610)
(645,586)
Provisions for liabilities
Deferred tax liability
17
267,536
267,536
(267,536)
(267,536)
Net assets
16,410,967
13,670,251
Capital and reserves
Called up share capital
19
24,000
24,000
Share premium account
20
16,000
16,000
Profit and loss reserves
20
16,370,967
13,630,251
Total equity
16,410,967
13,670,251

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 14 May 2026 and are signed on its behalf by:
M R Buxton
Director
Company registration number 06737753 (England and Wales)
FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
1
Accounting policies
Company information

Fire Glass UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, Millfield Lane, Haydock, Merseyside, WA11 9GA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Saverto Holding GmbH. These consolidated financial statements are available from its registered office, Glusinger Str. 86 21217, Seevetal, Niedersachsen Germany.

1.2
Going concern

The Group has reviewed, and continues to review, risks to the business and stakeholders presented by the market, including any other potential uncertainties surrounding the macro-economic environment, and to develop strategies to mitigate these risks.true

In making their going concern assessment, in conjunction with other general risks noted above, the directors have considered updated internal financial forecasts and budgeted results for the new financial year.

Furthermore, the directors have reviewed the assets of the business and do not believe that any impairments of value are necessary. The directors have performed sensitivity analyses and modelled what they believe to be worst case scenarios, and these continue to show that there will be sufficient funds available to meet obligations as they fall due. Based on these analyses and accompanying cash projections, the directors believe that there are no reasons why the going concern convention should not be adopted. The going concern model is prepared 12 months ahead of the date of approval of the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 10 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs
33% straight line
1.5
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and conditions necessary for it to be capable of operating in the manner intended by mangement.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Statement of Income and Retained Earnings during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Leasehold land and buildings
5%-10% on cost
Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Motor vehicles
25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Tangible assets are de-recognised on disposal or when no future economic benefits are expected.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. When a review for impairment is conducted, the recoverable amount is assessed by reference to the net present value of expected future cash flows of the relevant income generating unit or disposal value if higher.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 11 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
1.11
Retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The most significant estimates and assumptions included in the preparation of the financial statements are considered to be as follows.

Useful economic lives of property, plant and equipment

The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Inventory provisioning

The company manufactures fire restistant glass for sale to distributors and fabricators for the Project market. Fire Glass does not have a use by date and as such there is no requirement for provisioning in relation to stock going out of date. Glass manufactured for distribution customers has a high turnover and as such the company does not hold high levels of old stock. Glass manufactured for use in the Project market is made to order and therefore has no risk of obsolescence. Management reviews the inventory provision on a regular basis and considers the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
3
Turnover and other income
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
32,250,037
31,176,142
Rest of Europe
43,206
211,941
32,293,243
31,388,083
2025
2024
£
£
Other income
R & D Tax credit
240,054
226,563

Other income in the year represents an estimate of the R & D tax credit, utilising the RDEC scheme, for qualifying expenditure incurred in 2025.

4
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
26,325
24,750
5
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Research and development costs
-
15,662
Depreciation of owned tangible fixed assets
348,152
400,943
Depreciation of tangible fixed assets held under finance leases
433,806
396,550
Profit on disposal of tangible fixed assets
(6,745)
(11,510)
Operating lease charges
637,143
564,500
FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Production
132
123
Selling and distribution
14
15
Management and administration
52
58
Total
198
196

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
6,576,646
6,181,705
Social security costs
765,316
575,299
Pension costs
156,197
139,280
7,498,159
6,896,284
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
134,411
131,719
Company pension contributions to defined contribution schemes
7,341
7,179
141,752
138,898

During the year retirement benefits were accruing to 1 directors (2024: 1) in respect of defined contribution pension schemes.

8
Interest payable and similar expenses
2025
2024
£
£
Bank interest
76,378
74,421
Interest on finance leases and hire purchase contracts
19,421
20,961
95,799
95,382
FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
1,096,547
997,096
Adjustments in respect of prior periods
-
0
(108,232)
Total current tax
1,096,547
888,864
Deferred tax
Origination and reversal of timing differences
-
0
2,600
Total tax charge
1,096,547
891,464

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
3,837,263
3,890,590
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
959,316
972,648
Tax effect of expenses that are not deductible in determining taxable profit
-
0
671
Adjustments in respect of prior years
-
0
(108,232)
Fixed asset differences
137,231
23,005
R & D Tax credits
-
0
3,372
Taxation charge for the year
1,096,547
891,464
10
Intangible fixed assets
Development costs
£
Cost
At 1 January 2025 and 31 December 2025
11,700
Amortisation and impairment
At 1 January 2025 and 31 December 2025
11,700
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
11
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
824,721
2,675,952
580,948
1,795,155
5,876,776
Additions
17,263
34,009
31,637
125,577
208,486
Disposals
-
0
-
0
-
0
(132,789)
(132,789)
At 31 December 2025
841,984
2,709,961
612,585
1,787,943
5,952,473
Depreciation and impairment
At 1 January 2025
537,192
2,006,110
450,242
1,008,088
4,001,632
Depreciation charged in the year
84,099
353,615
18,345
325,899
781,958
Eliminated in respect of disposals
-
0
-
0
-
0
(125,203)
(125,203)
At 31 December 2025
621,291
2,359,725
468,587
1,208,784
4,658,387
Carrying amount
At 31 December 2025
220,693
350,236
143,998
579,159
1,294,086
At 31 December 2024
287,529
669,842
130,706
787,067
1,875,144

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
222,316
358,452
Motor vehicles
529,346
610,960
751,662
969,412
12
Stocks
2025
2024
£
£
Raw materials and consumables
241,616
173,327
Work in progress
254,518
254,518
Finished goods and goods for resale
1,515,866
1,485,973
2,012,000
1,913,818
FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,773,235
5,041,055
Amounts owed by group undertakings
11,949,608
8,821,871
Other debtors
10,879
10,810
Prepayments and accrued income
372,426
323,138
17,106,148
14,196,874

Amounts owed by group undertakings are unsecured, interest free and repayble on demand.

14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
16
397,100
397,088
Trade creditors
1,001,004
1,026,586
Amounts owed to group undertakings
340,440
130,000
Corporation tax
148,146
539,696
Other taxation and social security
652,801
509,579
Other creditors
65,260
41,293
Accruals and deferred income
775,304
1,034,948
3,380,055
3,679,190

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

The obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.

15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
16
429,610
645,586

The obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.

16
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
397,100
397,088
In two to five years
429,610
645,586
826,710
1,042,674
FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
267,536
267,536
There were no deferred tax movements in the year.

The deferred tax liability set out above is expected to reverse within 24 months and relates to accelerated capital allowances that are expected to mature within the same period.

18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
156,197
139,280

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, the company owed contributions to the fund of £65,874 (2024: £34,765).

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each of £1 each
24,000
24,000
24,000
24,000

There is a single class of ordinary share. There are no restrictions on dividends and the repayment of capital.

20
Reserves
Share premium

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account
Includes all current and prior periods retained profits and losses, less any dividends paid.

21
Financial commitments, guarantees and contingent liabilities

A fixed and floating charge is held over all the property and undertaking of the company.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
22
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
616,301
550,281
Years 2-5
1,610,788
1,969,295
After 5 years
627,195
825,256
2,854,284
3,344,832
23
Related party transactions

The company has taken advantage of the exemption under FRS 102 (section 33) Related Party Disclosures and has not disclosed transactions with group undertakings.

FIRE GLASS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
24
Ultimate controlling party

Saverto UK Limited is the immediate parent undertaking of the Company and is a company incorporated in England and Wales. Its registered office is International House, Millfield Lane, Haydock, Merseyside, United Kingdom, WA11 9GA.

The smallest group of undertakings for which consolidated financial statements have been drawn up is that headed by Saverto Holding GmbH. Copies of the consolidated financial statements of the group can be obtained from the registered address of Saverto Holding GmbH, Glusinger Str. 86 21217, Seevetal, Neidersachsen Germany.

The directors consider the ultimate parent undertaking and controlling party of the company to be Apheon svt LVT SCSp, a company registered in Luxembourg.

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