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REGISTERED NUMBER: 03924311 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

GLAZERITE WINDOWS LIMITED

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Statement of Comprehensive Income | 8 |

Statement of Financial Position | 9 |

Statement of Changes in Equity | 10 |

Statement of Cash Flows | 11 |

Notes to the Statement of Cash Flows | 12 |

Notes to the Financial Statements | 13 |

GLAZERITE WINDOWS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | R Brearley

| M Johnston

| J Dunn

| D R Rhodes

| M Thomas

| REGISTERED OFFICE: | Rixon Court

| 39-43 Rixon Road

| Finedon Road Industrial Estate

| Wellingborough

| Northamptonshire

| NN8 4BA

| REGISTERED NUMBER: | 03924311 (England and Wales)

| AUDITORS: | Shaw Gibbs (Audit) Limited

| Chartered Certified Accountants

| Statutory Auditor

| Eagle House

| 28 Billing Road

| Northampton

| Northamptonshire

| NN1 5AJ

| BANKERS: | NatWest

| 35 Fishergate

| Preston

| PR1 1AD

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

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

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

Total turnover on continuing operations decreased by £1,757,924 (7%) to £23,204,487. Net profit before tax was £228,708, representing a net margin of 1.0% on sales, similar to 2024 performance.

Sales volumes for the company were similar to 2024 but nowhere near the post-pandemic levels that we saw in 2021/2022. The year saw continued price increases from the supply chain and a continuation of increases in the national minimum wage which the company successfully passed onto customers, resulting in Gross Margins of 26.9%, around 0.8% higher than 2024 levels. Significant effort and cost was put into improving the already efficient and cost-effective business to help ensure that net profit was still healthy despite the cost increases seen from areas such as rent, business rates and insurance.

We exited 2025 with a strong performance in the final quarter and early signs are that this will continue into 2026.

Cash flow generated from operations remains strong at £1.3m and the company continued with its policy of investment in machinery and in the course of the year purchased capital expenditure totalling £96,723.

Total capital and reserves at the year-end stand at £7,152,879.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in a very competitive environment, focused on timely and efficient service, quality and price and is proven to be able to excel in it.

We continue to see inflationary increases in the costs of raw materials and labour and also disruption in areas of the supply chain. The company will continue to harness its strong relationships with suppliers to ensure any issues can be managed effectively and where required will source materials from more than one supplier.

To ensure staff retention is kept at good levels the company continually reviews pay structures and other ways of rewarding employees to ensure it is competitive in the markets it operates in.

The company will continue to invest in new machinery, vehicles and staff development throughout 2025 to ensure that it is able to continue to prosper.

SIGNED BY ORDER OF THE DIRECTORS:

R Brearley - Director

28 May 2026

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacturing of UPVC windows and doors.

DIVIDENDS

Dividends of £448,200 (2024 - £448,200) were voted during the year.

DIRECTORS

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

R Brearley

M Johnston

J Dunn

D R Rhodes

M Thomas

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2025

AUDITORS

The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

SIGNED BY ORDER OF THE DIRECTORS:

R Brearley - Director

28 May 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GLAZERITE WINDOWS LIMITED

Opinion

We have audited the financial statements of Glazerite Windows Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 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 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 Strategic Report and 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GLAZERITE WINDOWS LIMITED

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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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 Strategic Report or 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.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

GLAZERITE WINDOWS LIMITED

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:

We obtained an understanding of the legal and regulatory frameworks within which the company operates,

focusing on those laws and regulations that have a direct effect on the determination of material amounts and

disclosures in the financial statements. The laws and regulations we considered in this context were the

Companies Act 2006, United Kingdom Generally Accepted Accounting Practice and relevant Taxation legislation.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to

be the override of controls by management and the understatement of revenue. Our audit procedures to respond

to these risks included enquiries of management about their own identification and assessment of the risks of

irregularities, sample testing on the posting of journals, reviewing meeting minutes, regulatory correspondence

and professional fees, detailed substantive testing on the completeness of income, and reviewing accounting

estimates for biases.

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. We are not responsible for preventing non-compliance and cannot

be expected to detect non-compliance with all laws and regulations.

These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may

involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions,

collusion or the provision of intentional misrepresentations.

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.

Robyn Liddell (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

Chartered Certified Accountants

Statutory Auditor

Eagle House

28 Billing Road

Northampton

Northamptonshire

NN1 5AJ

28 May 2026

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 23,204,487 |  | 24,962,411 |  |

Cost of sales | 16,966,330 |  | 18,455,554 |  |

GROSS PROFIT | 6,238,157 |  | 6,506,857 |  |

Administrative expenses | 6,260,579 |  | 6,333,015 |  |

(22,422 | ) | 173,842 |  |

Other operating income | 598,212 |  | 455,824 |  |

OPERATING PROFIT | 4 | 575,790 |  | 629,666 |  |

Interest payable and similar expenses | 5 | 347,082 |  | 385,504 |  |

PROFIT BEFORE TAXATION | 228,708 |  | 244,162 |  |

Tax on profit | 6 | (8,862 | ) | (43,428 | ) |

PROFIT FOR THE FINANCIAL YEAR | 237,570 |  | 287,590 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 237,570 |  | 287,590 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 958,467 |  | 1,251,286 |  |

CURRENT ASSETS

Stocks | 9 | 1,755,248 |  | 1,414,870 |  |

Debtors | 10 | 11,737,097 |  | 11,317,134 |  |

Cash at bank and in hand | 165,679 |  | 96,901 |  |

13,658,024 |  | 12,828,905 |  |

CREDITORS

Amounts falling due within one year | 11 | 6,557,016 |  | 5,372,679 |  |

NET CURRENT ASSETS | 7,101,008 |  | 7,456,226 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 8,059,475 |  | 8,707,512 |  |

CREDITORS

Amounts falling due after more than one year | 12 | (683,312 | ) | (1,049,671 | ) |

PROVISIONS FOR LIABILITIES | 16 | (223,284 | ) | (294,332 | ) |

NET ASSETS | 7,152,879 |  | 7,363,509 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 860 |  | 860 |  |

Capital redemption reserve | 18 | 140 |  | 140 |  |

Retained earnings | 18 | 7,151,879 |  | 7,362,509 |  |

SHAREHOLDERS' FUNDS | 7,152,879 |  | 7,363,509 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by:

R Brearley - Director

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 January 2024 | 860 |  | 7,523,119 |  | 140 |  | 7,524,119 |  |

Changes in equity

Dividends | - |  | (448,200 | ) | - |  | (448,200 | ) |

Total comprehensive income | - |  | 287,590 |  | - |  | 287,590 |  |

Balance at 31 December 2024 | 860 |  | 7,362,509 |  | 140 |  | 7,363,509 |  |

Changes in equity

Dividends | - |  | (448,200 | ) | - |  | (448,200 | ) |

Total comprehensive income | - |  | 237,570 |  | - |  | 237,570 |  |

Balance at 31 December 2025 | 860 |  | 7,151,879 |  | 140 |  | 7,152,879 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,330,928 |  | 1,841,299 |  |

Interest paid | (313,574 | ) | (340,548 | ) |

Interest element of hire purchase payments paid | (33,508 | ) | (44,956 | ) |

Tax paid | - |  | 116,647 |  |

Net cash from operating activities | 983,846 |  | 1,572,442 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (96,723 | ) | (24,269 | ) |

Sale of tangible fixed assets | 84,157 |  | (959 | ) |

Net cash from investing activities | (12,566 | ) | (25,228 | ) |

Cash flows from financing activities

New loans in year | - |  | 308,458 |  |

Loan repayments in year | (183,448 | ) | (1,323,443 | ) |

Change in Intercompany debt | (72,586 | ) | (679,596 | ) |

New HP financing in year | - |  | 513,740 |  |

Capital repayments in year | (198,268 | ) | (144,828 | ) |

Invoicing discounting advanced | - |  | 51,524 |  |

Equity dividends paid | (448,200 | ) | (448,200 | ) |

Net cash from financing activities | (902,502 | ) | (1,722,345 | ) |

Increase/(decrease) in cash and cash equivalents | 68,778 |  | (175,131 | ) |

Cash and cash equivalents at beginning of year | 2 | 96,901 |  | 272,032 |  |

Cash and cash equivalents at end of year | 2 | 165,679 |  | 96,901 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 228,708 |  | 244,162 |  |

| Depreciation charges | 300,807 |  | 368,382 |  |

| Loss on disposal of fixed assets | 4,578 |  | - |  |

| Finance costs | 347,082 |  | 385,504 |  |

881,175 |  | 998,048 |  |

| (Increase)/decrease in stocks | (340,378 | ) | 212,530 |  |

| Decrease/(increase) in trade and other debtors | 329,199 |  | (446,149 | ) |

| Increase in trade and other creditors | 460,932 |  | 1,076,870 |  |

| Cash generated from operations | 1,330,928 |  | 1,841,299 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 31 December 2025

| 31/12/25 |  | 1/1/25

£ | £ |

| Cash and cash equivalents | 165,679 |  | 96,901 |  |

| Year ended 31 December 2024

| 31/12/24 |  | 1/1/24

£ | £ |

| Cash and cash equivalents | 96,901 |  | 272,032 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1/1/25 | Cash flow | At 31/12/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 96,901 |  | 68,778 |  | 165,679 |  |

96,901 |  | 68,778 |  | 165,679 |  |

| Debt

| Finance leases | (971,260 | ) | 198,268 |  | (772,992 | ) |

| Debts falling due within 1 year | (227,304 | ) | 43,971 |  | (183,333 | ) |

| Debts falling due after 1 year | (307,711 | ) | 139,477 |  | (168,234 | ) |

(1,506,275 | ) | 381,716 |  | (1,124,559 | ) |

| Total | (1,409,374 | ) | 450,494 |  | (958,880 | ) |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Glazerite Windows 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Significant judgements and estimates

| The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

| Turnover

| Turnover represents net invoiced sale of goods and services, excluding value added tax, except in respect of goods and services supplied under contract, where turnover is recognised when the company obtains a right to consideration.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Improvements to leasehold properties | - | Straight line over 5 years

| Plant and machinery | - | Straight line over 10 years

| Motor vehicles | - | Straight line over 5 years

| Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Debtors and creditors receivable and payable in more than one year are discounted using the effective interest method.

| 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 entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 5,737,676 |  | 5,949,381 |  |

| Social security costs | 662,168 |  | 561,350 |  |

| Other pension costs | 148,583 |  | 165,695 |  |

6,548,427 |  | 6,676,426 |  |

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

| 2025 |  | 2024

| Production | 116 |  | 136 |  |

| Administration | 68 |  | 60 |  |

184 |  | 196 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 147,372 |  | 111,016 |  |

| Directors' pension contributions to money purchase schemes | 36,024 |  | 39,346 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 5 |  | 5 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 296,762 |  | 355,823 |  |

| Other operating leases | 590,697 |  | 655,491 |  |

| Depreciation - owned assets | 131,043 |  | 180,984 |  |

| Depreciation - assets on hire purchase contracts | 169,764 |  | 187,400 |  |

| Loss on disposal of fixed assets | 4,578 |  | - |  |

| Auditors' remuneration | 16,800 |  | 14,000 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 86,379 |  | 92,553 |  |

| Other interest payable | 227,195 |  | 247,995 |  |

| Hire purchase | 33,508 |  | 44,956 |  |

347,082 |  | 385,504 |  |

6. | TAXATION

| Analysis of the tax credit

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 62,186 |  | - |  |

| Over/under provision in prior

| year | - |  | (33,983 | ) |

| Total current tax | 62,186 |  | (33,983 | ) |

| Deferred tax | (71,048 | ) | (9,445 | ) |

| Tax on profit | (8,862 | ) | (43,428 | ) |

| UK corporation tax has been charged at 25% (2024 - 25%).

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

6. | TAXATION - continued

| Reconciliation of total tax credit included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 228,708 |  | 244,162 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 57,177 |  | 61,041 |  |

| Effects of:

| Expenses not deductible for tax purposes | 3,148 |  | 11,938 |  |

| Over provision from prior year | - |  | (33,983 | ) |

| Changes in provisions | (50,443 | ) | - |  |

| Utilisation of group losses | (19,994 | ) | (87,240 | ) |

| Depreciation on ineligible assets | 1,250 |  | 4,816 |  |

| Total tax credit | (8,862 | ) | (43,428 | ) |

7. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Interim | 448,200 |  | 448,200 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

8. | TANGIBLE FIXED ASSETS

| Improvements |

| to |

| leasehold |  | Plant and |  | Motor |  | Office |

| properties |  | machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | 621,139 |  | 4,163,123 |  | 753,783 |  | 792,323 |  | 6,330,368 |  |

| Additions | 22,500 |  | 62,473 |  | - |  | 11,750 |  | 96,723 |  |

| Disposals | (143,792 | ) | (150,431 | ) | (29,042 | ) | (15,876 | ) | (339,141 | ) |

| At 31 December 2025 | 499,847 |  | 4,075,165 |  | 724,741 |  | 788,197 |  | 6,087,950 |  |

| DEPRECIATION

| At 1 January 2025 | 602,375 |  | 3,156,561 |  | 632,008 |  | 688,138 |  | 5,079,082 |  |

| Charge for year | 14,972 |  | 201,563 |  | 45,145 |  | 39,127 |  | 300,807 |  |

| Eliminated on disposal | (143,793 | ) | (68,093 | ) | (29,042 | ) | (9,478 | ) | (250,406 | ) |

| At 31 December 2025 | 473,554 |  | 3,290,031 |  | 648,111 |  | 717,787 |  | 5,129,483 |  |

| NET BOOK VALUE

| At 31 December 2025 | 26,293 |  | 785,134 |  | 76,630 |  | 70,410 |  | 958,467 |  |

| At 31 December 2024 | 18,764 |  | 1,006,562 |  | 121,775 |  | 104,185 |  | 1,251,286 |  |

| The net book value of tangible fixed assets includes £ 805,576 (2024 - £ 919,088 ) in respect of assets held under hire purchase contracts.

9. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 1,755,248 |  | 1,414,870 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,455,763 |  | 2,367,438 |  |

| Amounts owed by group undertakings | 9,110,887 |  | 8,361,725 |  |

| Other debtors | 48,213 |  | 289,345 |  |

| Prepayments and accrued income | 122,234 |  | 298,626 |  |

11,737,097 |  | 11,317,134 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 13) | 183,333 |  | 227,304 |  |

| Hire purchase contracts (see note 14) | 257,914 |  | 229,300 |  |

| Trade creditors | 2,103,735 |  | 2,710,279 |  |

| Amounts owed to group undertakings | 990,878 |  | 314,302 |  |

| Tax | 62,186 |  | - |  |

| Social security and other taxes | 108,341 |  | 120,786 |  |

| VAT | 561,742 |  | 333,277 |  |

| Other creditors | 2,172,288 |  | 1,314,172 |  |

| Accruals and deferred income | 116,599 |  | 123,259 |  |

6,557,016 |  | 5,372,679 |  |

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 13) | 168,234 |  | 307,711 |  |

| Hire purchase contracts (see note 14) | 515,078 |  | 741,960 |  |

683,312 |  | 1,049,671 |  |

13. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 183,333 |  | 227,304 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 168,234 |  | 307,711 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 257,914 |  | 229,300 |  |

| Between one and five years | 515,078 |  | 741,960 |  |

772,992 |  | 971,260 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

14. | LEASING AGREEMENTS - continued

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 873,929 |  | 823,594 |  |

| Between one and five years | 836,049 |  | 1,525,736 |  |

| In more than five years | - |  | 50,105 |  |

1,709,978 |  | 2,399,435 |  |

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 351,567 |  | 535,015 |  |

| Hire purchase contracts | 772,992 |  | 971,260 |  |

| Bank financing facility | 2,158,452 |  | 950,698 |  |

3,283,011 |  | 2,456,973 |  |

| Hire Purchase borrowings are secured on the assets to which the agreements relate.

| Praetura Commercial Finance Limited has a full form debenture comprising of fixed and floating

| charges over the whole of the company and fellow group companies including the business, assets

| and undertaking of the company.

| There are also two further debentures in place including a fixed and floating charge covering all the property or undertaking of the company.

16. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 223,284 |  | 294,332 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 294,332 |  |

| Credit to Statement of Comprehensive Income during year | (71,048 | ) |

| Balance at 31 December 2025 | 223,284 |  |

GLAZERITE WINDOWS LIMITED (REGISTERED NUMBER: 03924311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 860 | Ordinary | £1.00 | 860 |  | 860 |  |

18. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2025 | 7,362,509 |  | 140 |  | 7,362,649 |  |

| Profit for the year | 237,570 |  | 237,570 |  |

| Dividends | (448,200 | ) | (448,200 | ) |

| At 31 December 2025 | 7,151,879 |  | 140 |  | 7,152,019 |  |

19. | RELATED PARTY DISCLOSURES

| The company has taken advantage of the exemption made available under section 33.1A of the Financial Reporting Standard 102 not to disclose transactions with wholly owned fellow group companies.

| During the year, a total of key management personnel compensation of £ 515,425 (2024 - £ 515,796 ) was paid.

20. | ULTIMATE CONTROLLING PARTY

| The ultimate parent undertaking is RGB Investment Holdings Limited, a company registered in the United Kingdom.

| The largest and smallest group in which the company's results are consolidated is RGB Investment Holdings Limited. A copy of the group accounts can be obtained from RGB Investment Holdings Limited, whose registered office is Rixon Court 39-43 Rixon Road, Finedon Road Industrial Estate, Wellingborough, Northamptonshire, United Kingdom, NN8 4BA.

| The ultimate controlling party is Mr R Brearley.

| Mr R Brearley has a majority shareholding in RGB Investment Holdings Limited the ultimate parent company of Glazerite Windows Limited.