Company registration number 05298340 (England and Wales)
DISTINCTION DOORS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
DISTINCTION DOORS LIMITED
COMPANY INFORMATION
Directors
A J Fowlds
S Massey
O D Jones
M Spence
K Hibbert
(Appointed 1 October 2025)
C Robinson
(Appointed 1 May 2026)
E L Bratby
(Appointed 10 May 2026)
A P Cadman
(Appointed 20 May 2026)
Company number
05298340
Registered office
Wentworth 36
Wentworth Industrial Park
Wentworth Way
Tankersley
Barnsley
United Kingdom
S75 3DH
Auditor
Sumer Auditco Limited
Albert Works
Sidney Street
Sheffield
S1 4RG
DISTINCTION DOORS LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 6
Independent auditor's report
7 - 9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 30
DISTINCTION DOORS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

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

Overview

The company remains committed to leading the external door market through innovation, technical expertise, and exceptional service. Throughout 2025, this focus enabled the business to continue providing high‑quality, differentiated products tailored to customer needs, supported by strong technical guidance and responsive marketing services.

The organisation’s investment in its people continues to underpin performance. Employee development programmes, strengthened leadership capability and a continued commitment to best‑practice HR frameworks have helped maintain an engaged, capable workforce that is central to delivering the company’s long‑term strategy.

Business Environment

The broader operating environment in 2025 remained highly challenging. The UK economy experienced persistently high input cost inflation, subdued consumer confidence and ongoing pressure on disposable income. This translated into cautious spending patterns across the renovation and fenestration sectors, with the overall market showing little sign of sustained recovery.

Geopolitical instability also continued to affect supply reliability. Extended shipping routes, volatile freight charges and fluctuating stock prices placed further strain on costs. Although supply chains stabilised in parts of the year, intermittent disruption required the business to maintain higher inventory buffers to protect customers from the resulting variability.

Despite these external headwinds, long‑standing customer relationships and the company’s strong market position allowed it to navigate economic uncertainty effectively, ensuring continuity of service and stable sales volumes. In addition, the company regularly reviews customer demand patterns, stock levels, and hedge currency to protect against fluctuations in exchange rates.

Business Performance

In a year characterised by ongoing cost pressure, the company demonstrated notable resilience. While 2025 brought further increases in material, labour and distribution costs, the business achieved a series of operational and commercial improvements that supported overall profitability:

- Enhanced production efficiency, driven by tighter planning, better utilisation of machine capacity, and reduced operational downtime.

- Improved cost discipline, with targeted savings across overheads and non‑essential expenditure.

- Refined commercial focus, strengthening pricing decisions, customer segmentation, and product mix management.

- Deepened customer engagement, safeguarding core volumes even as the wider market remained suppressed.

As a result of these actions, the company delivered a financial outturn broadly in line with the previous year, despite significant external inflationary pressures. This demonstrates the underlying strength of the business model and its capacity to offset adverse conditions through disciplined management and strategic focus.

DISTINCTION DOORS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Key Performance Metrics:

OTIF*: 2024: 80% 2025: 97%

EBITDA: 2024: £3.0 m 2025: £3.5 m

PAT: 2024: £1.4m 2025: £(2.5)m

PAT excluding exceptional items: 2024: £1.4m 2025: £2.0m

*On time in full

The adjusted PAT measure shown above excludes an exceptional intercompany waiver of £4.5m recorded within Distinction Doors in 2025. The Directors consider this adjusted measure to be a useful indicator of the underlying trading performance of the business.

EBITDA has been calculated as profit before interest, taxation, depreciation, amortisation and exceptional items.

Outlook

The directors remain confident that the company is well placed to continue performing strongly in 2026 and beyond. The business benefits from:

- A resilient balance sheet and strong cash generation

- Robust, long‑term supplier & customer relationships

- An experienced workforce aligned to the company’s values

- A diversified and competitive product portfolio

- Ongoing investment in operational improvement and data‑driven decision making

While cost volatility and market uncertainty are expected to persist into 2026, the board believes the plans in place - including continued operational optimisation, targeted product development, and disciplined financial management - will support sustainable, profitable performance.

In reviewing forward forecasts, including cashflow projections, the directors are satisfied that the company has adequate resources to continue operating as a going concern, even under conservative assumptions.

DISTINCTION DOORS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
S172 statement

Engaging with stakeholders

The success of our business is dependent on the support of all our stakeholders. Building positive relationships with stakeholders that share our values is important to us and working together towards shared goals assists us in delivering long-term sustainable success.

Shareholders

We maintain an open dialogue with our shareholders through periodic board meetings and quarterly shareholder meetings. Our shareholders are integral to the success of the business and play a key role in our decision-making process, financial performance, and strategic outlook.

Employees

Distinction maintains a continual open dialogue with all employees on both performance and wider outlook. Managers are provided periodic KPI packs with performance analysis of all areas of the business allowing for open dialogue on the company H&S audits, business financial performance, supplier and customer relationships and operational performance.

Quarterly, a full employee brief is run that provides a top line overview to every employee of the key results reviewed in the periodic KPI’s. Our drive is to maintain an open culture where all employees have a direct dialogue with senior management as we strive to grow the business in our pursuit of perfection.

Customers

Our pursuit of perfection is to delight our customers. We strive to deliver the best product and service to the market. Our customer base is key to the success of our business, as such we invest a large amount of time working with customers to understand their needs and emerging market changes. From order to after-sales care, we provide our customers a dedicated 1-2-1 contact in customer service, a dedicated external sales contact, access to marketing and brochure support and technical representatives to assist with their staff training on our product.

Suppliers

We continue to build strong working relationships with our suppliers to develop long lasting partnerships. Supplier relationships run throughout the business assisted by our procurement team. From the board down our main supplier KPI is to continue to develop and support long-term supplier relationships. Supported through our periodic reviews with key accounts and more informally with open dialogue on a day-to-day basis.

Communities

We are proud to be part of the Barnsley and wider South Yorkshire community. We engage with the local communities on several fronts and aim to give something back to the local communities we work in. We partner with a local charity each year to help raise awareness and funds and organise several fund-raising events throughout the year which are keenly supported by employees.

We maintain a strong working relationship with Barnsley College with our ongoing apprenticeships and Sheffield Hallam University with our undergraduate placement scheme.

On behalf of the board

A J Fowlds
Director
17 July 2026
DISTINCTION DOORS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

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

Principal activities

The principal activity of the company continued to be the distribution of composite doors.

Results and dividends

The results for the year are set out on page 10.

Dividends were paid amounting to £144,002 (202 4: £1,697,249). The directors do not recommend payment of a further dividend.

Directors

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

A J Fowlds
C Roach
(Resigned 1 October 2025)
S Massey
O D Jones
M Spence
K Hibbert
(Appointed 1 October 2025)
C Robinson
(Appointed 1 May 2026)
E L Bratby
(Appointed 10 May 2026)
A P Cadman
(Appointed 20 May 2026)
Auditor

Sumer Auditco Limited were appointed as auditor to the company following BHP LLP becoming part of the Sumer Group on 31 December 2025, which required a change in audit firm to comply with applicable regulatory requirements.

In accordance with section 487(2) of the Companies Act 2006, Sumer Auditco Limited are deemed to be reappointed annually.

Energy and carbon report
2025
2024
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Gas combustion
174,652
228,655
- Electricity purchased
1,597,517
1,783,382
- Fuel consumed for transport
551,863
87,872
2,324,032
2,099,909
DISTINCTION DOORS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
2025
2024
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Gas combustion
37.40
49.00
- Fuel consumed for owned transport
49.50
51.60
86.90
100.60
Scope 2 - indirect emissions
- Electricity purchased
282.80
369.20
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company
143.40
22.40
Total gross emissions
513.10
492.20
Intensity ratio
Tones of CO2e per employee
2.83
2.62
Quantification and reporting methodology

We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2024 UK Government’s Conversion Factors for Company Reporting.

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per employee, the recommended ratio for the sector.

Measures taken to improve energy efficiency

The increase in emissions intensity during the year is primarily attributable to higher grey fleet mileage arising from the acquisition and integration of J B Kind. Travel between sites, located approximately 70 miles apart, was necessary during the transition period and, despite the use of car sharing and company vehicles where possible, personal vehicle use increased, including by new Area Sales Managers prior to receiving company cars.

Operationally, the Group continued to implement energy efficiency measures, including improvements to heat retention and ongoing identification of energy savings opportunities. Electricity consumption was partly mitigated by existing solar panels at the acquired site.

Gas usage continues to fluctuate in line with production volumes, particularly paint activity, although efficiency improvements remain a focus.

Looking ahead, grey fleet mileage is expected to reduce following the consolidation of operations onto a single site. The Group also continues to prioritise the transition to electric vehicles. Further reductions in electricity consumption are anticipated following the imminent installation of solar panels at the main site, while gas consumption is expected to remain broadly stable, subject to production levels.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

DISTINCTION DOORS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -

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;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

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

Statement of disclosure to auditor

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

On behalf of the board
A J Fowlds
Director
17 July 2026
DISTINCTION DOORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DISTINCTION DOORS LIMITED
- 7 -
Opinion

We have audited the financial statements of Distinction Doors Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report theron. 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 theron.

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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

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

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

DISTINCTION DOORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DISTINCTION DOORS LIMITED (CONTINUED)
- 8 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, i ncluding fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the entity through discussions with Directors and other management, and from our knowledge and experience of the industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the entity, including health and safety laws, environmental legislation and various ISO regulations;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing legal expenses and reviewing meeting minutes; and

- we ensured identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the entity’s financial statements to material misstatement, including obtaining an

understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

DISTINCTION DOORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DISTINCTION DOORS LIMITED (CONTINUED)
- 9 -

To address the risk of fraud through management bias and override of controls, we

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance; and

- enquiring of management as to actual and potential litigation and claims.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those

leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases

the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lisa Leighton (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited, Statutory Auditor
Chartered Accountants
Albert Works
Sidney Street
Sheffield
S1 4RG
17 July 2026
DISTINCTION DOORS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
40,556,615
40,922,727
Cost of sales
(28,523,650)
(29,765,798)
Gross profit
12,032,965
11,156,929
Administrative expenses
(8,938,322)
(8,771,013)
Other operating income
24,623
23,159
Intercompany balance waiver
4
(4,500,000)
-
0
Operating (loss)/profit
5
(1,380,734)
2,409,075
Interest receivable and similar income
9
-
0
3,281
Interest payable and similar expenses
10
(481,232)
(629,813)
(Loss)/profit before taxation
(1,861,966)
1,782,543
Tax on (loss)/profit
11
(595,852)
(407,554)
(Loss)/profit for the financial year
(2,457,818)
1,374,989
Other comprehensive income
Fair value adjustments reclassified to profit or loss
(401,551)
625,786
Tax relating to other comprehensive income
100,388
(156,447)
Total comprehensive income for the year
(2,758,981)
1,844,328

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

DISTINCTION DOORS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
14
1,410,818
1,474,223
Investments
15
1
1
1,410,819
1,474,224
Current assets
Stocks
17
5,402,589
6,825,872
Debtors
18
6,958,425
9,411,958
Cash at bank and in hand
527,564
218,487
12,888,578
16,456,317
Creditors: amounts falling due within one year
19
(11,432,020)
(11,071,199)
Net current assets
1,456,558
5,385,118
Total assets less current liabilities
2,867,377
6,859,342
Creditors: amounts falling due after more than one year
20
(1,527,465)
(2,536,447)
Provisions for liabilities
Deferred tax liability
22
121,000
201,000
(121,000)
(201,000)
Net assets
1,218,912
4,121,895
Capital and reserves
Called up share capital
26
150,000
150,000
Fair value reserve
(53,111)
248,052
Profit and loss reserves
1,122,023
3,723,843
Total equity
1,218,912
4,121,895
The financial statements were approved by the board of directors and authorised for issue on 17 July 2026 and are signed on its behalf by:
A J Fowlds
Director
Company registration number 05298340 (England and Wales)
DISTINCTION DOORS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
Share capital
Fair value reserve
Capital contribution reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
As restated for the period ended 31 December 2024:
Balance at 1 January 2024
150,000
(221,287)
114,651
11,236,122
11,279,486
Prior year adjustment
-
-
0
-
(7,291,347)
(7,291,347)
As restated
150,000
(221,287)
114,651
3,944,775
3,988,139
Year ended 31 December 2024:
Profit
-
-
-
1,374,989
1,374,989
Other comprehensive income:
Gains reclassified to profit or loss
-
625,786
-
-
625,786
Tax relating to other comprehensive income
-
(156,447)
-
-
0
(156,447)
Total comprehensive income
-
469,339
-
1,374,989
1,844,328
Dividends
12
-
-
-
(1,697,249)
(1,697,249)
Prior year adjustment - distribution
12
-
-
-
(78,126)
(78,126)
Transfers
-
-
0
(179,454)
179,454
-
Other movements
-
-
64,803
-
64,803
Balance at 31 December 2024
150,000
248,052
-
3,723,843
4,121,895
Year ended 31 December 2025:
Loss
-
-
-
(2,457,818)
(2,457,818)
Other comprehensive income:
Gains reclassified to profit or loss
-
(401,551)
-
-
(401,551)
Tax relating to other comprehensive income
-
100,388
-
-
0
100,388
Total comprehensive income
-
(301,163)
-
(2,457,818)
(2,758,981)
Dividends
12
-
-
-
(144,002)
(144,002)
Balance at 31 December 2025
150,000
(53,111)
-
1,122,023
1,218,912
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
1
Accounting policies
Company information

Distinction Doors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wentworth 36, Wentworth Industrial Park, Wentworth Way, Tankersley, Barnsley, United Kingdom, S75 3DH.

1.1
Basis of preparation

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

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

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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

- Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash f low and related notes and disclosures;

- Section 33 ‘Related Party Disclosures paragraph 33.7.

Distinction Doors Limited is a wholly owned subsidiary of Tiger Investment Group Limited and the results of Distinction Doors Limited are included in the consolidated financial statements of Tiger Investment Group Limited which are available from 36 Wentworth Industrial Estate, Wentworth Way, Tankersley, Barnsley, S75 3DH.

1.2
Going concern

The Directors have, at the time of approving the financial statements, a reasonable expectation that the Company have access to adequate resources and are free of operational challenges, allowing them to continue in operational existence for a period of seventeen months from the date of signing of these financial statements.true

When making its assessment of the Company’s ability to continue as a going concern, the Board has reviewed the risks to future performance as set out in our Strategic Report on page 1 and considered the potential impacts of those risks on the Company’s ability to continue as a going concern, including conditions and events that may arise over the assessment period.

The Board has carried out robust stress testing of cash flows, including factoring in high levels of inflation when budgeting for future expenses, addressing supply chain shocks and the impact of reductions in sales revenue based on reasonably plausible downside scenarios. We have also revisited the strong relationships we enjoy with our key suppliers, our access to agreed financing facilities, and our ability to continue to meet the terms and covenants associated with those facilities, none of which are due for reappraisal during or immediately after our chosen going concern basis period.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -

When performing our assessment, we critically appraised our current financial performance. While our statutory result for the period covered by these financial statements is a loss before tax of £2.5m, this is after charging non-cash items relating to depreciation and amortisation, as well as significant non-recurring exceptional items, which, when removed, results in EBITDA of circa £3.5m.

Taking all of these factors together, the Board expects the Company to have sufficient cash resources to withstand any reasonable stress scenario, and believes that it is appropriate to continue to adopt the going concern basis of accounting in preparing these financial statements.

1.3
Revenue

Turnover represents revenue earned from the sale of goods and is stated at the fair value of consideration received or receivable, net of VAT, returns, trade discounts, settlement discounts and volume rebates.

Revenue is recognised when control of the goods passes to the customer, which is generally upon dispatch from the company's premises. At this point the customer is deemed to have accepted the significant risks and rewards associated with ownership of the goods, the amount of revenue can be measured reliably, and it is probable that the economic benefits of the transaction will flow to the company.

Revenue is recognised only when the associated costs of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

Land and buildings Leasehold
20% straight line
Plant and machinery
20 to 33.3% straight line
Fixtures, fittings & equipment
20 to 33.3% straight line
Computer equipment
20 to 33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

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

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

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

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

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

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

Derecognition of financial assets

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

Classification of financial liabilities

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

Basic financial liabilities

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

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

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

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
Derecognition of financial liabilities

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

1.10
Equity instruments

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

1.11
Taxation

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

Current tax

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

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.15
Leases
As lessee

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

1.16
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
2
Judgements and key sources of estimation uncertainty

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

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

Critical judgements

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

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

Going concern

Evaluating the Company's ability to continue as a going concern requires the directors to exercise judgment on a number of factors, including sales growth, future pricing, the likely future cost base of the Company, and the continued availability of appropriately priced financing facilities. Such judgements are increasingly more difficult due to geopolitical conditions that are expected to continue during our going concern assessment. The more significant factors are considered in more detail in note 1.2.

Basis of preparation

When evaluating the company's ability to continue as a going concern, the directors have had regard to the financial standing of the company at the date of approving these financial statements and considered a period of at least 1 7 month s from that date as that best reflects an appropriate operating cycle for our business. For this period, we had regard to:

- T he terms and conditions we enjoy with our key suppliers and expected pricing terms.

- The resilience of our supply and distribution chain

- Sector specific data to allow us to model or sales forecasts

- The terms and maturity of our key financing arrangements, including compliance with key covenants.

Taking all of these factors together we produced forecasts which included sensitivity analyses based on reasonably plausible downside risks. Based on these analyses, we are satisfied that we have a resilient supply and distribution chain and have appropriate access to facilities. Consequently, it is appropriate for the financial statements to prepared on the basis the company and the group are a going concern.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
40,556,615
40,922,727
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Turnover and other revenue
(Continued)
- 20 -
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
38,951,897
39,251,604
Rest Of Europe
1,604,718
1,671,123
40,556,615
40,922,727
2025
2024
£
£
Other revenue
Interest income
-
3,281
Grants received
24,623
23,159
4
Exceptional item
2025
2024
£
£
Expenditure
Intercompany balance waiver
4,500,000
-
5
Operating (loss)/profit
2025
2024
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Exchange losses
453,217
415,370
Government grants
(24,623)
(23,159)
Depreciation of tangible fixed assets
586,072
616,699
Profit on disposal of tangible fixed assets
(12,500)
-
Impairment of stocks recognised or reversed
-
0
645,730
Share-based payments
-
64,803
Operating lease charges
770,199
590,083
6
Auditor's remuneration
2025
2024
Fees payable to the company's auditor:
£
£
For audit services
Audit of the financial statements of the company
21,290
20,250
For other services
Taxation compliance services
2,920
2,780
Other taxation services
7,500
1,130
10,420
3,910
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
7
Employees

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

2025
2024
Number
Number
Administration and Sales
78
78
Production
103
110
Total
181
188

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
7,400,387
7,419,099
Social security costs
851,200
709,429
Pension costs
303,655
283,574
8,555,242
8,412,102
8
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
1,206,293
1,046,145
Company pension contributions to defined contribution schemes
48,250
42,600
1,254,543
1,088,745

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 6 (2024 - 5).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
426,378
298,980
9
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
-
0
3,281
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
10
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
481,232
628,938
Other interest
-
0
875
481,232
629,813
11
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
656,415
524,036
Adjustments in respect of prior periods
(67,248)
(58,035)
Total current tax
589,167
466,001
Deferred tax
Origination and reversal of timing differences
6,685
(58,447)
Total tax charge
595,852
407,554

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

2025
2024
£
£
(Loss)/profit before taxation
(1,861,966)
1,782,543
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(465,492)
445,636
Tax effect of expenses that are not deductible in determining taxable profit
1,128,292
27,019
Adjustments in respect of prior years
(67,248)
(58,035)
Permanent capital allowances in excess of depreciation
2,764
10,183
Other permanent differences
-
0
(32,891)
Deferred tax not recognised
(2,464)
297
Change in deferred tax rates
-
0
15,345
Taxation charge for the year
595,852
407,554
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Taxation
(Continued)
- 23 -

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2024
£
£
Deferred tax arising on:
Revaluation of investments
(100,388)
156,447
12
Dividends and distributions
2025
2024
as restated
£
£
Dividends
Final paid
144,002
1,697,249
Prior year adjustment - intercompany distribution
Amounts paid
-
0
78,126
13
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2025
2024
Notes
£
£
In respect of:
Stocks
17
-
0
645,730
Recognised in:
Cost of sales
-
645,730
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
14
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 January 2025
552,935
2,515,954
826,116
449,575
4,344,580
Additions
149,435
85,958
225,322
61,952
522,667
Disposals
-
0
(137,984)
(13,733)
(3,178)
(154,895)
At 31 December 2025
702,370
2,463,928
1,037,705
508,349
4,712,352
Depreciation and impairment
At 1 January 2025
227,178
1,804,327
460,361
378,491
2,870,357
Depreciation charged in the year
93,618
311,422
141,367
39,665
586,072
Eliminated in respect of disposals
-
0
(137,984)
(13,733)
(3,178)
(154,895)
At 31 December 2025
320,796
1,977,765
587,995
414,978
3,301,534
Carrying amount
At 31 December 2025
381,574
486,163
449,710
93,371
1,410,818
At 31 December 2024
325,757
711,627
365,755
71,084
1,474,223
15
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
16
1
1
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
16
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Axis Doors Limited
United Kingdom
Dormant
Ordinary
100.00
Fire Door Systems Limited
United Kingdom
Dormant
Ordinary
100.00
Evergreen Doors Limited
United Kingdom
Dormant
Ordinary
100.00
17
Stocks
2025
2024
£
£
Finished goods and goods for resale
5,402,589
6,825,872
18
Debtors
2025
2024
as restated
Amounts falling due within one year:
£
£
Trade debtors
4,368,219
4,275,053
Amounts owed by group undertakings
1,906,804
4,500,000
Derivative financial instruments
-
0
330,736
Other debtors
2,265
7,833
Prepayments and accrued income
644,434
275,336
6,921,722
9,388,958
Deferred tax asset (note 22)
36,703
23,000
6,958,425
9,411,958
19
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Other borrowings
21
4,285,106
4,005,201
Trade creditors
2,664,888
2,804,535
Amounts owed to group undertakings
1,163,989
1,413,535
Corporation tax
288,475
148,120
Other taxation and social security
1,039,228
1,079,222
Derivative financial instruments
70,814
-
0
Government grants
23
27,900
22,624
Other creditors
48,676
54,389
Accruals and deferred income
1,842,944
1,543,573
11,432,020
11,071,199
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
20
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
21
1,500,000
2,500,000
Government grants
23
27,465
36,447
1,527,465
2,536,447
21
Loans and overdrafts
2025
2024
£
£
Other loans
5,785,106
6,505,201
Payable within one year
4,285,106
4,005,201
Payable after one year
1,500,000
2,500,000

Included in other loans is a bank loan of £2,0 00,000 (202 4: £3,500,000) which bears interest at the rate of 5.75% plus base rate per annum and is secured by a fixed and floating charge over all the present and future assets of Tiger Investment Group Limited. The loan is repayable over 60 months.

Also included within other loans is invoice financing creditors of £3,785,106 (202 4: £3,005,201) which is secured by a legal charge over the assets of Tiger Investment Group Limited.

Other loans are subject to covenants imposed by the lenders. Management monitors compliance with these covenants on an ongoing basis and confirms that the Company was in compliance with all covenant requirements throughout the year and at the reporting date.

22
Deferred taxation

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

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Balances:
£
£
£
£
Accelerated capital allowances
121,000
118,000
-
-
Short term timing differences
-
-
19,000
23,000
Deferred tax on forward contracts through OCI
-
83,000
17,703
-
121,000
201,000
36,703
23,000
DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
22
Deferred taxation
(Continued)
- 27 -
2025
Movements in the year:
£
Liability at 1 January 2025
178,000
Charge to profit or loss
6,685
Credit to other comprehensive income
(100,388)
Liability at 31 December 2025
84,297
23
Government grants
2025
2024
£
£
Arising from government grants
55,365
59,071
Included in the financial statements as follows:
Current liabilities
27,900
22,624
Non-current liabilities
27,465
36,447
55,365
59,071
24
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
303,655
283,574

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

25
Share-based payment transactions
Number of share options
Weighted average exercise price
2025
2024
2025
2024
Number
Number
£
£
Outstanding at 1 January 2025
-
0
1,500
-
0
0.01
Exercised
-
0
(1,500)
0
-
0
0.01
Outstanding at 31 December 2025
-
0
-
0
-
0
-
0
Exercisable at 31 December 2025
-
0
-
0
-
0
-
0

All remaining share options were exercised during the prior year.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
26
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
150,000
150,000
150,000
150,000
27
Fair value reserve

Includes movements in fair values on derivative financial instruments identified as designated and effective hedges. This is a non-distributable reserve impacting Other Comprehensive Income.

28
Operating lease commitments
As lessee

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

2025
2024
£
£
Within 1 year
693,977
516,528
Years 2-5
4,130,725
1,387,254
After 5 years
2,808,000
292,500
7,632,702
2,196,282
29
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
467,978
-

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
30
Related party transactions

During the year, Distinction Doors Ltd entered into transactions with a company that subsequently became a company under common control, which was considered a related party up to July 2025.

In July 2025, Distinction Doors Ltd's parent company acquired 100% of the company under common control's share capital.

From the point of common control (July 2025 onwards), transactions between Distinction Doors Limited and the company under common control qualify for exemption from disclosure. Accordingly, only transactions up to that date are disclosed below.

During the period in which the company under common control was a related party, Distinction Doors Limited made sales of £224,431 to companies under common control.

Balances between the companies at the year end are not disclosed, as they relate to companies under common control and therefore fall within the exemption permitted by FRS 102 Section 33.1A and 33.1B.

31
Ultimate controlling party

The parent company is Distinction Doors Holdings Limited. The ultimate parent company is Tiger Investment Group Limited.

DISTINCTION DOORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
32
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2024
2024
£
£
Equity as previously reported
11,279,486
11,491,368
Adjustments to prior year
Restructure of intercompany debtor
(7,291,347)
(7,369,473)
Equity as adjusted
3,988,139
4,121,895
Reconciliation of changes in profit for the previous financial period
2024
£
Profit as previously reported
1,374,989
Notes to reconciliation

During the year, the Company identified a prior period error relating to the accounting treatment of certain intercompany balances. These balances had not been fully impaired in prior periods, however following a detailed review undertaken during the year, the Directors concluded that the balances were irrecoverable and should have been recognised as distributions in earlier financial periods.

Accordingly, a prior year adjustment has been recognised to classify these balances as distributions rather than intercompany debtors. The comparative figures have been restated to reflect this adjustment, as if the balances had been distributed in the period to which they relate.

Comparative figures have been restated accordingly, and the financial statements are presented as if the error had not occurred.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 A J Fowlds C Roach S Massey O D Jones M Spence K Hibbert C Robinson E L Bratby A P Cadman 05298340 2025-01-01 2025-12-31 05298340 bus:Director1 2025-01-01 2025-12-31 05298340 bus:Director3 2025-01-01 2025-12-31 05298340 bus:Director4 2025-01-01 2025-12-31 05298340 bus:Director5 2025-01-01 2025-12-31 05298340 bus:Director6 2025-01-01 2025-12-31 05298340 bus:Director7 2025-01-01 2025-12-31 05298340 bus:Director8 2025-01-01 2025-12-31 05298340 bus:Director9 2025-01-01 2025-12-31 05298340 bus:Director2 2025-01-01 2025-12-31 05298340 bus:RegisteredOffice 2025-01-01 2025-12-31 05298340 2025-12-31 05298340 2024-01-01 2024-12-31 05298340 1 2025-01-01 2025-12-31 05298340 1 2024-01-01 2024-12-31 05298340 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 05298340 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 05298340 core:RevaluationReserve 1 2024-01-01 2024-12-31 05298340 core:RevaluationReserve 2 2024-01-01 2024-12-31 05298340 3 2025-01-01 2025-12-31 05298340 core:RevaluationReserve 2024-01-01 2024-12-31 05298340 core:RevenueReservesInvestmentFundsOnly 2024-01-01 2024-12-31 05298340 core:RevaluationReserve 2025-01-01 2025-12-31 05298340 2024-12-31 05298340 core:LandBuildings 2025-12-31 05298340 core:PlantMachinery 2025-12-31 05298340 core:FurnitureFittings 2025-12-31 05298340 core:ComputerEquipment 2025-12-31 05298340 core:LandBuildings 2024-12-31 05298340 core:PlantMachinery 2024-12-31 05298340 core:FurnitureFittings 2024-12-31 05298340 core:ComputerEquipment 2024-12-31 05298340 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 05298340 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05298340 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 05298340 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 05298340 core:Non-currentFinancialInstruments 2025-12-31 05298340 core:Non-currentFinancialInstruments 2024-12-31 05298340 core:ShareCapital 2025-12-31 05298340 core:ShareCapital 2024-12-31 05298340 core:RevaluationReserve 2025-12-31 05298340 core:RevaluationReserve 2024-12-31 05298340 core:RetainedEarningsAccumulatedLosses 2025-12-31 05298340 core:RetainedEarningsAccumulatedLosses 2024-12-31 05298340 core:RevaluationReserve core:PriorPeriodIncreaseDecrease 2023-12-31 05298340 core:RetainedEarningsAccumulatedLosses core:PriorPeriodIncreaseDecrease 2023-12-31 05298340 core:ShareCapital 2023-12-31 05298340 core:RevaluationReserve 2023-12-31 05298340 core:RetainedEarningsAccumulatedLosses 2023-12-31 05298340 core:ShareCapitalOrdinaryShareClass1 2025-12-31 05298340 core:ShareCapitalOrdinaryShareClass1 2024-12-31 05298340 core:LandBuildings core:LongLeaseholdAssets 2025-01-01 2025-12-31 05298340 core:PlantMachinery 2025-01-01 2025-12-31 05298340 core:FurnitureFittings 2025-01-01 2025-12-31 05298340 core:ComputerEquipment 2025-01-01 2025-12-31 05298340 core:UKTax 2025-01-01 2025-12-31 05298340 core:UKTax 2024-01-01 2024-12-31 05298340 2 2025-01-01 2025-12-31 05298340 2 2024-01-01 2024-12-31 05298340 3 2024-01-01 2024-12-31 05298340 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 05298340 core:PlantMachinery 2024-12-31 05298340 core:FurnitureFittings 2024-12-31 05298340 core:ComputerEquipment 2024-12-31 05298340 2024-12-31 05298340 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-12-31 05298340 core:LandBuildings core:LeasedAssetsHeldAsLessee 2025-01-01 2025-12-31 05298340 core:Subsidiary1 2025-01-01 2025-12-31 05298340 core:Subsidiary2 2025-01-01 2025-12-31 05298340 core:Subsidiary3 2025-01-01 2025-12-31 05298340 core:Subsidiary1 1 2025-01-01 2025-12-31 05298340 core:Subsidiary2 2 2025-01-01 2025-12-31 05298340 core:Subsidiary3 3 2025-01-01 2025-12-31 05298340 core:CurrentFinancialInstruments 2025-12-31 05298340 core:CurrentFinancialInstruments 2024-12-31 05298340 core:WithinOneYear 2025-12-31 05298340 core:WithinOneYear 2024-12-31 05298340 2023-12-31 05298340 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 05298340 bus:OrdinaryShareClass1 2025-12-31 05298340 bus:OrdinaryShareClass1 2024-12-31 05298340 core:BetweenTwoFiveYears 2025-12-31 05298340 core:BetweenTwoFiveYears 2024-12-31 05298340 core:MoreThanFiveYears 2025-12-31 05298340 core:MoreThanFiveYears 2024-12-31 05298340 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 05298340 bus:FRS102 2025-01-01 2025-12-31 05298340 bus:Audited 2025-01-01 2025-12-31 05298340 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP