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COMPANY REGISTRATION NUMBER: 04220778

Pearl Glazing Systems Limited

Filleted Financial Statements

31 December 2025

Pearl Glazing Systems Limited

Financial Statements

Year ended 31 December 2025

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

Pearl Glazing Systems Limited

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 4 |  | 2,390,602 | 2,345,688

Current assets

Debtors | 5 | 424,541 |  | 342,385
Cash at bank and in hand | 151,232 |  | 131,905
| --------- |  | ---------
| 575,773 |  | 474,290

Creditors: amounts falling due within one year | 6 | 473,735 |  | 412,416
| --------- |  | ---------
Net current assets |  | 102,038 | 61,874
|  | ------------ | ------------
Total assets less current liabilities |  | 2,492,640 | 2,407,562

Creditors: amounts falling due after more than one year | 7 |  | 1,050,509 | 1,131,314

Provisions

Taxation including deferred tax |  | 411,953 | 255,668
|  | ------------ | ------------
Net assets |  | 1,030,178 | 1,020,580
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 2 | 2
Profit and loss account |  | 1,030,176 | 1,020,578
|  | ------------ | ------------
Shareholders funds |  | 1,030,178 | 1,020,580
|  | ------------ | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Pearl Glazing Systems Limited

Statement of Financial Position (continued)

31 December 2025
These financial statements were approved by the board of directors and authorised for issue on 26 June 2026 , and are signed on behalf of the board by:

J H Walsh | A Holliday
Director | Director

S A French |
Director |

Company registration number: 04220778

Pearl Glazing Systems Limited

Notes to the Financial Statements

Year ended 31 December 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260-268 Chapel Street, Salford, England, M3 5JZ. The address of the principal place of business is Unit 14, Great Bank Road, Wingates Industrial Park, Westhoughton, Bolton, BL5 3XU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Pearl Window Systems (Group) Limited which can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: - Disclosures in respect of each class of share capital have not been presented. - No cash flow statement has been presented for the company. - Disclosures in respect of financial instruments have not been presented. - Disclosures in respect of share-based payments have not been presented. - No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Useful life of fixed assets In making decisions regarding the depreciation of non current assets, management must estimate the useful life of said assets to the business. A change in estimate would result in a change in the depreciation charged to profit and loss in each year. The carrying amount of depreciation at the end of 31st December 2025 is £2,754,333 (2024: £2,431,799).
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant & Machinery | - | 15% reducing balance
| Fixtures and Office Equipment | - | 15% reducing balance
| Commercial Vehicles | - | 15% reducing balance
| Motor Vehicles | - | 15% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets

| Plant and Machinery | Fixtures and Office Equipment | Commercial Vehicles | Motor Vehicles | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 January 2025 | 3,076,071 | 93,416 | 967,933 | 640,067 | 4,777,487
Additions | 3,900 | – | 374,540 | 74,008 | 452,448
Disposals | ( 85,000) | – | – | – | ( 85,000)
| ------------ | -------- | ------------ | --------- | ------------
At 31 December 2025 | 2,994,971 | 93,416 | 1,342,473 | 714,075 | 5,144,935
| ------------ | -------- | ------------ | --------- | ------------
Depreciation |  |  |  |  |
At 1 January 2025 | 2,036,745 | 19,306 | 284,712 | 91,036 | 2,431,799
Charge for the year | 156,435 | 11,116 | 139,895 | 87,997 | 395,443
Disposals | ( 72,909) | – | – | – | ( 72,909)
| ------------ | -------- | ------------ | --------- | ------------
At 31 December 2025 | 2,120,271 | 30,422 | 424,607 | 179,033 | 2,754,333
| ------------ | -------- | ------------ | --------- | ------------
Carrying amount |  |  |  |  |
At 31 December 2025 | 874,700 | 62,994 | 917,866 | 535,042 | 2,390,602
| ------------ | -------- | ------------ | --------- | ------------
At 31 December 2024 | 1,039,326 | 74,110 | 683,221 | 549,031 | 2,345,688
| ------------ | -------- | ------------ | --------- | ------------

5. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 84,618 | –
Amounts owed by group undertakings | 339,923 | 321,442
Other debtors | – | 20,943
| --------- | ---------
| 424,541 | 342,385
| --------- | ---------

6. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 1,298 | 7,839
Amounts owed to group undertakings | 3,750 | 3,750
Social security and other taxes | 63,696 | –
Other creditors | 404,991 | 400,827
| --------- | ---------
| 473,735 | 412,416
| --------- | ---------

The outstanding balance on hire purchase contracts is secured on the assets subject to the hire purchase finance.
The aggregate amount of creditors due within one year for which security was given amounted to £402,106 (2024: £400,201).
7. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Other creditors | 1,050,509 | 1,131,314
| ------------ | ------------

The outstanding balance on hire purchase contracts is secured on the assets subject to the hire purchase finance.
The aggregate amount of creditors due after more than one year for which security was given amounted to £1,050,509 (2024: £1,131,314).
8. Contingencies
Pearl Glazing Systems Limited and its group companies Pearl Window Systems (Group) Limited, Pearl Window Systems (UK) Limited and Pearl Window Systems Limited and a company connected by common ownership, Pearl Window Systems New Build Division Limited are subject to a cross-company guarantee in favour of the funders to Pearl Window Systems Limited. At 31 December 2025 the company has a contingent liability under this agreement amounting to £745,253 (2024: £886,866).
9. Summary audit opinion
The auditor's report dated 30 June 2026 was unqualified .
The senior statutory auditor was Stuart Whitehead FCA , for and on behalf of Edwards Veeder LLP .
10. Related party transactions
The company has taken advantage of the exemption available in Section 33 of FRS102 "Related Party Disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
11. Controlling party
The company's ultimate parent company is Pearl Window Systems (Group) Limited , a company incorporated in England and Wales. A copy of its financial statements can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.