1.
General Information
Ecoglass Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
00467720
. The registered office is Weston House, Weston Road, Norwich, Norfolk, NR3 3WG.
2.
Statement of Compliance
The 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.
3.
Accounting Policies
3.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the company. The total for each category of income, expense, asset and liability have been rounded to the nearest whole pound.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Group's accounting policies (see note 3.4)
3.2.
Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
-
the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
-
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
-
the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.26 to 12.27, 12.29 (a), 12.29 (b) and 12.29A;;
The information is included in the consolidated financial statements of Ecoglass Holdings Limited as at 31 October 2025 and these financial statements may be obtained from Companies House at Companies House, Crown Way, Cardiff, CF14 3UZ.
3.3.
Going Concern Disclosure
3.3.
Going Concern Disclosure - continued
The financial statements of the Company have been prepared on a going concern basis, which assumes that they will continue in operational existence for the foreseeable future.
In forming this assessment, the Directors have considered the Company’s current financial position, recent trading performance and the principal risks facing the business. The Company operates in the glass manufacturing sector and has experienced challenging trading conditions arising from increasing employment costs, sustained inflationary pressures on energy and raw materials, and competitive pressures within the sector which have impacted margins. Demand fluctuations in certain end markets have also contributed to operational challenges during the period.
...CONTINUED
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
Notwithstanding these factors, the Directors have taken steps to mitigate the impact of these challenges. Detailed cash flow forecasts have been prepared, covering a period of at least twelve months from the date of approval of the financial statements. These forecasts indicate that the Company is expected to generate sufficient cash flows to meet its liabilities as they fall due.
In assessing the appropriateness of the going concern basis, the Directors have also taken into account the following:
- The Company maintains a positive and established relationship with its bank.
- One of the Directors has advanced a loan to the Company and has confirmed that repayment will not be sought until such time as the Company’s cash flows permit.
- Subsequent to the year end, the Directors have successfully negotiated a debt factoring facility of up to £1 million, which is expected to provide additional liquidity and headroom to support ongoing working capital requirements.
Based on the above considerations, the Directors have concluded that they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements of the Company have been prepared on a going concern basis.
3.4.
Significant judgements and estimations
The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make judgement as to the application of accounting standards to the recognition and presentation of material transactions, assets and liabilities.
Estimations are based on management's best evaluation of a range of assumptions, however events or actions may mean that actual results ulitmately differ from those estimates and these differences may be material. The estimates and the underlying assumptions are reviewed regularly.
The items in the financial statements where these judgements and estimates have been made include:
Depreciation of tangible assets - The Company makes an estimate of the useful economic life of assets and depreciates them at an appropriate rate to recognise the reducing value of the assets over time. The judgements are based on assumptions from the manufacturers of the assets and historical experience of using similar assets within the business.
Provision for warranties - The Company has recognised a provision for warranty costs in its financial statements which require management to make judgements. The judgements, estimates and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors.
Provision for dilapidations - The Company leases properties which require any dilapidations at the end of the lease to be made good. Management have estimated a provision based on the condition of the properties, previous experience and market indicies.
Provision for bad debts - The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 16 for the net carrying amount of the debtors and associated impairment provision.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
3.5.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
3.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold Improvements |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
3.7.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3.8.
Stocks and Work in Progress
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 stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
3.9.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.10.
Financial Instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of profit or loss, with exception of hedging instruments in a designated hedging relationship.
The company only enters into basic financial instruments.
3.11.
Interest Receivable
Interest income is recognised in the statement of profit or loss using the effective interest method.
3.12.
Interest Payable
Interest payable is recognised in the statement of profit or loss using the effective interest method.
3.13.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
3.14.
Provisions and Contingencies
Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company's control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote
3.15.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.16.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
3.17.
Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3.18.
Dividends
Dividends are determined at board meetings and are declared by the board as and when they feel necessary.
4.
Turnover
Turnover is in relation to sales of glass units and is shown net of value added tax. Turnover is earned solely from sales within the United Kingdom and is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
5.
Other Operating Income
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income |
|
|
|
| 647 | 25,413 | ||
6.
Operating Profit
The operating profit is stated after charging:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | - | 14,019 | |
| Operating lease rentals |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
7.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the period was as follows:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
8.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
9.
Average Number of Employees
Average number of employees, including directors, during the period was: 93 (2024: 90)
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
10.
Directors' remuneration
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
11.
Interest Receivable and Similar Income
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
12.
Interest Payable and Similar Charges
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 118,796 | 33,808 | |
| Other finance charges | - |
|
|
| 142,625 | 52,715 | ||
13.
Tax on Profit
The tax (credit)/charge on the profit for the period was as follows:
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
| Tax Rate | 31 October 2025 | 30 April 2024 | |||
|---|---|---|---|---|---|
| 31 October 2025 | 30 April 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
( |
|
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
( |
|
|||
The actual (credit)/charge for the period can be reconciled to the expected charge for the period based on the profit and the standard rate of corporation tax as follows:
| 31 October 2025 | 30 April 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 106,810 | 337,022 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
|
|
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
|
|||
| Prior period adjustment |
|
|
|||
| Difference in tax rates |
|
|
|||
| Total tax charge for the period | (51,691) | 217,737 | |||
Factors that may effect future tax changes
There are currently no factors of note that may effect future tax changes.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
14.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold Improvements | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 May 2024 |
|
|
|
|
|
| Additions |
|
|
|
|
|
| Disposals |
|
|
( |
|
( |
| As at 31 October 2025 |
|
|
|
|
|
| Depreciation | |||||
| As at 1 May 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
|
( |
|
( |
| As at 31 October 2025 |
|
|
|
|
|
| Net Book Value | |||||
| As at 31 October 2025 |
|
|
|
|
|
| As at 1 May 2024 |
|
|
|
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Plant & Machinery |
|
|
|
| Motor Vehicles |
|
|
|
|
|
|
||
15.
Stocks
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Materials |
|
|
|
| Work in progress |
|
|
|
|
|
|
||
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
16.
Debtors
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Corporation tax recoverable assets | - |
|
|
| Amounts owed by group undertakings |
|
|
|
|
|
|
||
Trade debtors is stated net of a bad debt provision of £7,692 (2024: £7,692)
17.
Creditors: Amounts Falling Due Within One Year
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other taxation and social security |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
18.
Creditors: Amounts Falling Due After More Than One Year
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans | - |
|
|
|
|
|
||
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
19.
Loans
An analysis of the maturity of loans is given below:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans | - |
|
|
The bank loan is secured by way of a fixed and floating charge against the company assets and is repayable by monthly instalments of £5,833.33 plus interest charged at a rate of 3.99% above the Bank of England base rate with the final repayment being due in June 2026.
20.
Obligations Under Finance Leases and Hire Purchase
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
|
|
|
||
The above amounts are shown net of interest. The total interest to be charged on the above amount totals £135,577 (2024: £164,702)
The above amounts are secured against the assets to which they relate.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
21.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 710,419 | 762,110 | |
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Deferred tax on written down values of fixed assets
|
655,025
|
699,049
|
|
|
Deferred tax on tax losses
|
(7,667)
|
-
|
|
|
Deferred tax on capital gains rolled over
|
63,061
|
63,061
|
|
|
710,419
|
762,110
|
||
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
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|
|
22.
Provisions for Liabilities
| Deferred Tax | Other Provisions | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 May 2024 |
|
|
1,045,330 |
| Utilised |
( |
( |
(86,241) |
| Balance at 31 October 2025 |
|
|
959,089 |
Other provisions relates to a provision made for dilapidations.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
24.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
| Later than five years |
|
|
|
|
|
|
||
25.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the period the charge to profit or loss in respect of defined contribution schemes was £272,911 (2024: £198,590).
At the balance sheet date contributions of £1,445 (2024: £NIL) were due to the fund and are included in other creditors.
26.
Dividends
| 31 October 2025 | 30 April 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid | - |
|
|
27.
Reserves
Profit and loss reserve
The profit and loss account represents cumulative profits or losses net of dividends paid.
Capital redemption reserve
The capital redemption reserve contains the nominal value of own shares that have been acquired by the company and cancelled.
28.
Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
Included in debtors at the year end is a balance of £11,430 (2024: £18,359) owed to the company by two directors.
Included in creditors at the year end is a balance of £55,035 (2024: £34,761) owed to the directors by the company.
Ecoglass Limited
Notes to the Financial Statements (continued)
For the Period 1 May 2024 to 31 October 2025
29.
Controlling Parties
The company's immediate and ultimate parent undertaking is
Ecoglass Holdings Limited
(incorporated in England & Wales). Its registered office is
Weston House, Weston Road, Norwich, England, NR3 3WG
.
Copies of the group accounts may be obtained from the company's registered office.
The company's ultimate controlling party are the directors of
Ecoglass Holdings Limited
by virtue of their interest in the share capital of the holding company.
30.
Cash
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Cash at bank
|
394,142
|
563,265
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
|
||
|
394,142
|
563,265
|