REGISTERED NUMBER: 02607937 (England and Wales)

PAN GLO UK LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G L Bundy

R A Bundy

W D Bundy

SECRETARY:

J Bowman

REGISTERED OFFICE:

8 Seddon Place

Skelmersdale

Lancashire

WN8 8EB

REGISTERED NUMBER:

02607937 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2DR

FIXED ASSETS

Intangible assets

4

333,881

393,681

Tangible assets

5

1,811,744

1,996,491

2,145,625

2,390,172

CURRENT ASSETS

Stocks

6

624,031

517,921

Debtors

7

1,685,369

2,619,687

Cash at bank

2,336,815

2,320,118

4,646,215

5,457,726

CREDITORS

Amounts falling due within one year

8

1,911,393

2,023,569

NET CURRENT ASSETS

2,734,822

3,434,157

TOTAL ASSETS LESS CURRENT LIABILITIES

4,880,447

5,824,329

CREDITORS

Amounts falling due after more than one year

9

(476,398

)

(623,429

)

PROVISIONS FOR LIABILITIES

(191,447

)

(228,236

)

NET ASSETS

4,212,602

4,972,664

CAPITAL AND RESERVES

Called up share capital

8,500

8,500

Revaluation reserve

157,442

157,442

Other reserves

371,500

371,500

Retained earnings

3,675,160

4,435,222

4,212,602

4,972,664

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

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

W D Bundy - Director

1.	STATUTORY INFORMATION

Pan Glo UK Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02607937 and its registered office address is 8 Seddon Place, Skelmersdale, Lancashire, WN8 8EB.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is £ sterling.

Going concern

The financial statements have been prepared on the going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1) Goodwill

On acquisition, the directors use their judgement to determine the fair value of any intangibles to recognise separately from goodwill. This is based on their knowledge and experience in the sector.

2) Leases

A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an operating lease and is therefore not included in the statement of financial position.

Other key sources of estimation uncertainty;

1) Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as market conditions, the remaining life of the asset and projected disposal values.

Turnover

Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable.

Turnover from the sale of goods is recognised on despatch.

Intangible fixed assets

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows:

Freehold property (excluding land)

30 years straight line

Plant and machinery

7 years straight line

Fixtures and fittings

3 - 7 years straight line

Motor vehicles

4 years straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Income and Retained Earnings.

Stocks

Stocks are valued at the lower of cost and net realisable value, on a 'first in, first out' basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

For work in progress, cost is taken as production cost, which includes an appropriate proportion of fixed and variable overheads.

Taxation

The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using tax rates and laws that been enacted or substantively enacted at the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax with the following exception:

- deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Research and development

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

Foreign currencies

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

Operating lease commitments

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Statement of Income and Retained Earnings in the period to which they relate.

Financial instruments

The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

597,997

AMORTISATION

At 1 January 2025

204,316

Charge for year

59,800

At 31 December 2025

264,116

NET BOOK VALUE

At 31 December 2025

333,881

At 31 December 2024

393,681

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

1,447,865

3,328,534

301,275

11,099

5,088,773

Additions

-

97,155

-

-

97,155

At 31 December 2025

1,447,865

3,425,689

301,275

11,099

5,185,928

DEPRECIATION

At 1 January 2025

443,247

2,382,925

255,011

11,099

3,092,282

Charge for year

49,239

217,740

14,923

-

281,902

At 31 December 2025

492,486

2,600,665

269,934

11,099

3,374,184

NET BOOK VALUE

At 31 December 2025

955,379

825,024

31,341

-

1,811,744

At 31 December 2024

1,004,618

945,609

46,264

-

1,996,491

The freehold properties are secured against the bank loan.

6.

STOCKS

2025

2024

£

£

Raw materials

73,787

78,625

Work-in-progress

4,580

4,115

Finished goods

545,664

435,181

624,031

517,921

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

1,270,482

869,605

Amounts owed by group undertakings

-

1,641,589

Other debtors

7,543

-

Prepayments and accrued income

93,578

108,493

1,371,603

2,619,687

Amounts falling due after more than one year:

Other debtors

313,766

-

Aggregate amounts

1,685,369

2,619,687

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

142,227

128,728

Trade creditors

455,754

638,735

Corporation tax

252,985

175,778

Social security and other taxes

90,469

67,054

VAT

182,344

147,336

Other creditors

493,070

497,007

Accruals and deferred income

294,544

368,931

1,911,393

2,023,569

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

152,578

139,198

Bank loans - 2-5 years

323,820

484,231

476,398

623,429

The company has a loan with Santander UK Plc. Repayments are due on the loan monthly. The loan is due for repayment in full by December 2029.

The loan currently bears interest at a rate of 2.75% above base rate, charged monthly.

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

138,742

150,982

Between one and five years

187,215

325,958

325,957

476,940

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

618,625

752,157

The bank loans are secured against the freehold properties, and by a fixed and floating charge over all the assets of the company.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Richards ACA FCCA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

In a previous period, the directors advanced a loan to the company. The balance outstanding at the year end is £440,250 (2024: £440,250) and is included within 'Creditors: Amounts falling due within one year'. No interest was charged on the loan in the year.

During the year, the company advanced a loan to a company with common ultimate shareholders. The amount outstanding at the year end is £321,309 (2024: £Nil). £7,543 (2024: £Nil) is included within 'Debtors: Amounts falling due within one year' and £313,766 (2024: £Nil) is included within 'Debtors: Amounts falling due after more than one year'. The loan is due for repayment by 1 April 2028. Interest totalling £11,309 (2024: £Nil) has been charged on the loan in the year.