REGISTERED NUMBER: 06528552 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2025

for

Debar Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

G Fawthrop

S Bromberg

B D Fawthrop

L J Davies

L Hicks

REGISTERED OFFICE:

West Hill House

Allerton Hill

Chapel Allerton

Leeds

West Yorkshire

LS7 3QB

REGISTERED NUMBER:

06528552 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Wilkinson FCA

AUDITORS:

Malcolm Jones & Co Limited

Statutory Auditors

Accountants and Business Advisers

West Hill House

Allerton Hill

Chapel Allerton

Leeds

West Yorkshire

LS7 3QB

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

REVIEW OF BUSINESS

The principal activity of the company continued to be the manufacture and sale of bifold hardware products.

The company continued to trade successfully throughout the year despite ongoing economic and market challenges. The directors remain satisfied with the financial position of the company at the year end and believe the business remains well placed to pursue its long-term objectives.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors regularly review the principal risks and uncertainties facing the business and implement measures to manage and mitigate these where appropriate.

The principal risks affecting the company relate to economic and market conditions, supply chain disruption, credit risk and foreign exchange exposure. The directors consider that appropriate policies and procedures are in place to manage these risks effectively.

FUTURE DEVELOPMENTS

The company will continue to focus on operational efficiency, maintaining strong customer relationships and pursuing sustainable growth opportunities.

The directors remain confident in the long-term prospects of the business.

ON BEHALF OF THE BOARD:

L J Davies - Director

8 July 2026

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

DIVIDENDS

Individual dividends per share were paid as follows:

£ 3.35 (per 1p share) - 17 January 2025

£ 6.70 (per 1p share) - 17 April 2025

£ 6.70 (per 1p share) - 14 July 2025

£ 6.70 (per 1p share) - 17 October 2025

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £351,750.

DIRECTORS

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

G Fawthrop

S Bromberg

B D Fawthrop

L J Davies

L Hicks

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). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Malcolm Jones & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

L J Davies - Director

8 July 2026

Opinion

We have audited the financial statements of Debar Ltd (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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.

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.

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. As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout the audit.

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 framework within which the company operates, focusing on those laws and regulations that directly effects how material balances are determined and also the disclosures in the financial statements. the laws and regulations considered by us in this context were the Companies Act 2006 and various taxation legislation.

We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be revenue and cost recognition, stock valuation and override of controls by management. Our audit procedures to respond to revenue and cost recognition risks included sample testing a sample of income/costs across the year to agree to supporting documentation and reviewing income and costs either side of the year end to ensure they have been recognised correctly. Our audit procedures to respond to stock valuation included attendance at the company's year end stock check, reconciling these quantities to the final stock sheets and confirming the valuation of a selection of stock items. Our audit procedures to respond to management override risks included enquiries of management about their own identification and an assessment of the risks of irregularities, reviewing the posting of journals and reviewing the accounting estimates for bias.

Due 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.

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.

Andrew Wilkinson FCA (Senior Statutory Auditor)

for and on behalf of Malcolm Jones & Co Limited

Statutory Auditors

Accountants and Business Advisers

West Hill House

Allerton Hill

Chapel Allerton

Leeds

West Yorkshire

LS7 3QB

8 July 2026

TURNOVER

11,600,752

11,981,193

Cost of sales

7,397,201

7,742,102

GROSS PROFIT

4,203,551

4,239,091

Administrative expenses

4,080,456

4,021,613

123,095

217,478

Other operating income

-

82,462

OPERATING PROFIT

4

123,095

299,940

Interest receivable and similar income

31,900

70,000

154,995

369,940

Interest payable and similar expenses

5

989

3,921

PROFIT BEFORE TAXATION

154,006

366,019

Tax on profit

6

39,403

92,414

PROFIT FOR THE FINANCIAL YEAR

114,603

273,605

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

114,603

273,605

FIXED ASSETS

Tangible assets

8

1,873,093

2,069,535

CURRENT ASSETS

Stocks

9

1,574,937

1,741,060

Debtors

10

1,563,151

1,508,825

Cash at bank and in hand

2,864,681

2,594,369

6,002,769

5,844,254

CREDITORS

Amounts falling due within one year

11

1,134,586

936,754

NET CURRENT ASSETS

4,868,183

4,907,500

TOTAL ASSETS LESS CURRENT LIABILITIES

6,741,276

6,977,035

CREDITORS

Amounts falling due after more than one year

12

(47,521

)

-

PROVISIONS FOR LIABILITIES

15

(460,311

)

(506,444

)

NET ASSETS

6,233,444

6,470,591

CAPITAL AND RESERVES

Called up share capital

16

150

150

Share premium

17

349,950

349,950

Retained earnings

17

5,883,344

6,120,491

SHAREHOLDERS' FUNDS

6,233,444

6,470,591

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2026 and were signed on its behalf by:

L J Davies - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 January 2024

150

6,098,136

349,950

6,448,236

Changes in equity

Dividends

-

(251,250

)

-

(251,250

)

Total comprehensive income

-

273,605

-

273,605

Balance at 31 December 2024

150

6,120,491

349,950

6,470,591

Changes in equity

Dividends

-

(351,750

)

-

(351,750

)

Total comprehensive income

-

114,603

-

114,603

Balance at 31 December 2025

150

5,883,344

349,950

6,233,444

Cash flows from operating activities

Cash generated from operations

1

871,406

1,376,429

Interest paid

(382

)

(3,921

)

Interest element of hire purchase payments paid

(607

)

-

Tax paid

(68,370

)

(223,295

)

Net cash from operating activities

802,047

1,149,213

Cash flows from investing activities

Purchase of tangible fixed assets

(267,232

)

(324,215

)

Sale of tangible fixed assets

5,054

18,561

Interest received

31,900

70,000

Net cash from investing activities

(230,278

)

(235,654

)

Cash flows from financing activities

New loans in year

77,762

-

Loan repayments in year

(27,469

)

(55,556

)

Equity dividends paid

(351,750

)

(251,250

)

Net cash from financing activities

(301,457

)

(306,806

)

Increase in cash and cash equivalents

270,312

606,753

Cash and cash equivalents at beginning of year

2

2,594,369

1,987,616

Cash and cash equivalents at end of year

2

2,864,681

2,594,369

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

31.12.25

31.12.24

£

£

Profit before taxation

154,006

366,019

Depreciation charges

448,016

425,661

Loss on disposal of fixed assets

10,604

34,209

Finance costs

989

3,921

Finance income

(31,900

)

(70,000

)

581,715

759,810

Decrease in stocks

166,123

482,679

(Increase)/decrease in trade and other debtors

(54,326

)

365,633

Increase/(decrease) in trade and other creditors

177,894

(231,693

)

Cash generated from operations

871,406

1,376,429

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

2,864,681

2,594,369

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,594,369

1,987,616

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

2,594,369

270,312

2,864,681

2,594,369

270,312

2,864,681

Debt

Finance leases

-

(73,441

)

(73,441

)

Debts falling due within 1 year

(23,148

)

23,148

-

(23,148

)

(50,293

)

(73,441

)

Total

2,571,221

220,019

2,791,240

1.	STATUTORY INFORMATION

Debar Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Long leasehold

-

6 years

Plant and machinery

-

6 years, 10 years and 3 years

Fixtures and fittings

-

6 years, 3 years and 5 years

Motor vehicles

-

25% on reducing balance

Stocks

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

Many stock items are purchased with varying costs and it is not possible to allocate sales of these on a specific basis. Therefore, the cost attached to each individual stock item is an amalgamation of prices, but weighted towards the most recent purchases.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at an approximate rate of exchange at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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

31.12.25

31.12.24

£

£

Wages and salaries

3,457,241

3,582,076

Social security costs

386,954

336,241

Other pension costs

90,495

86,873

3,934,690

4,005,190

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

31.12.25

31.12.24

Directors

4

4

Administration

25

26

Production

49

57

Selling and marketing

8

7

Warehouse and logistics

11

13

97

107

31.12.25

31.12.24

£

£

Directors' remuneration

339,989

477,859

Directors' pension contributions to money purchase schemes

25,219

18,853

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

Money purchase schemes

4

5

Information regarding the highest paid director is as follows:

31.12.25

31.12.24

£

£

Emoluments etc

126,828

147,956

Pension contributions to money purchase schemes

9,200

3,121

4.	OPERATING PROFIT

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

31.12.25

31.12.24

£

£

Depreciation - owned assets

444,416

425,660

Depreciation - assets on hire purchase contracts

3,600

-

Loss on disposal of fixed assets

10,604

34,209

Auditors' remuneration

9,100

9,100

Foreign exchange differences

700

6,995

Vehicle operating lease rentals

101,370

116,685

Property operating lease rentals

262,500

262,500

Non-audit fees

4,395

5,125

Income from operating leases

(59,671

)

(65,410

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Bank loan interest

382

3,921

Hire purchase

607

-

989

3,921

6.

TAXATION

Analysis of the tax charge

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

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

85,536

127,438

Deferred tax

(46,133

)

(35,024

)

Tax on profit

39,403

92,414

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

Reconciliation of total tax charge included in profit and loss

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

31.12.25

31.12.24

£

£

Profit before tax

154,006

366,019

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

38,502

91,505

Effects of:

Expenses not deductible for tax purposes

220

228

Depreciation in excess of capital allowances

681

681

Total tax charge

39,403

92,414

7.

DIVIDENDS

31.12.25

31.12.24

£

£

Ordinary shares of 1p each

Interim

351,750

251,250

8.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

56,337

3,695,919

66,750

36,408

3,855,414

Additions

1,029

215,525

37,683

12,995

267,232

Disposals

-

(64,308

)

(5,922

)

(23,208

)

(93,438

)

At 31 December 2025

57,366

3,847,136

98,511

26,195

4,029,208

DEPRECIATION

At 1 January 2025

18,714

1,700,757

38,869

27,539

1,785,879

Charge for year

13,597

411,436

19,024

3,959

448,016

Eliminated on disposal

-

(53,135

)

(5,922

)

(18,723

)

(77,780

)

At 31 December 2025

32,311

2,059,058

51,971

12,775

2,156,115

NET BOOK VALUE

At 31 December 2025

25,055

1,788,078

46,540

13,420

1,873,093

At 31 December 2024

37,623

1,995,162

27,881

8,869

2,069,535