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REGISTERED NUMBER: 01330662 (England and Wales)

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 NOVEMBER 2025 |

| FOR |

| B P C BUILDING PRODUCTS LIMITED |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Page |

| Company Information | 1 |

| Strategic Report | 2 |  | to |  | 3

| Report of the Directors | 4 |  | to |  | 5

| Report of the Independent Auditors | 6 |  | to |  | 9

| Income Statement | 10 |

| Other Comprehensive Income | 11 |

| Balance Sheet | 12 |

| Statement of Changes in Equity | 13 |

| Notes to the Financial Statements | 14 |  | to |  | 21

| B P C BUILDING PRODUCTS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 30 NOVEMBER 2025

| DIRECTORS: | Mrs S A Travis

| Mr R G Simister

| Mr P D Travis

| REGISTERED OFFICE: | Carr Brook Works Elnor Lane

| Whaley Bridge

| High Peak

| SK23 7JN

| REGISTERED NUMBER: | 01330662 (England and Wales)

| AUDITORS: | Allens Accountants Limited

| Registered Auditors and

| Chartered Accountants

| 123 Wellington Road South

| Stockport

| Cheshire

| SK1 3TH

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

STRATEGIC REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2025

The directors present their strategic report for the year ended 30 November 2025.

REVIEW OF BUSINESS

The Company is a part of the Vista Group, the UK's leading independent manufacturer of builders' & plasterers' metalwork, and construction fixings. Operating from five manufacturing sites and a dedicated Distribution Centre in Scotland, the Group provides proven products, reliable service, and competitive pricing, built on a history of innovation and high-performance products delivering engineered strength.

All companies in the Vista Group operate with a decentralised structure, with local directors having full decision-making responsibility, ensuring a fully customer-focused approach to market demands and opportunities.

KEY PERFORMANCE INDICATORS

The directors measure the development, performance and the company's position by reference to the following factors:

| 2025 |  | 2024 |

(a) |  | Turnover |  | £12.97m |  | £12.35m |

(b) |  | Gross Profit Margin |  | 28.5% |  | 26.8% |

(c) |  | Net Assets |  | £5.85m |  | £4.99m |

(d) |  | Debtor Days |  | 46 days |  | 52 days |

(e) |  | Stock Turnover |  | 3.9 times |  | 5.3 times |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

STRATEGIC REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2025

FINANCIAL RISK MANAGEMENT

The Company's operations expose it to a variety of financial risks that include price risk and liquidity risk. These risks are managed by the Company's focus on its cash reserves and cash flow forecasts. The directors have concluded that the credit risk is low.

PRICE RISK

The Company is exposed to changes in the market prices of its raw material prices, which is mitigated by sourcing goods from a list of approved suppliers with whom the Company has built up and maintained a strong working relationship.

The Company has sought to mitigate the full effect of the increases on customers through operational initiatives and proportionate price increases. The Company has consciously increased its stock levels to maintain service levels and satisfy customer demand.

LIQUIDITY RISK

The Company has sufficient cash reserves to maintain the required liquidity and capital expenditure to ensure that the business is not only a going concern but is able to realise its full potential.

FUTURE DEVELOPMENTS

The Company's primary objective is to increase long term value to its shareholders, achieved through a continued focus on product, service and price. Independently minded and family-owned, the Company is ideally positioned to be agile in response to new opportunities in the construction sector.

The Company continues to invest in its brands, as well as making strategic investments to drive improvement in service, product, and quality.

Persistent inflationary pressures remain a challenge across all areas of the business. We take care to maintain good relationships with our customers to ensure we remain competitive.

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

All directors benefited from a qualifying indemnity insurance policy in place during the financial year.

POST BALANCE SHEET EVENTS

There are no post balance sheet events to report.

ON BEHALF OF THE BOARD:

Mr P D Travis - Director

24 April 2026

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 NOVEMBER 2025

The directors present their report with the financial statements of the company for the year ended 30 November 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of manufacture of building products.

DIVIDENDS

Dividends of £360,308 (2024: £235,111) were voted during the year.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2024 to the date of this report.

Mrs S A Travis

Mr R G Simister

Mr P D Travis

POLITICAL DONATIONS AND EXPENDITURE

During the year the company paid charitable donations totalling £2,657 (2024: £nil).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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

- | select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 NOVEMBER 2025

AUDITORS

The auditors, Allens Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr P D Travis - Director

24 April 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

B P C BUILDING PRODUCTS LIMITED

Opinion

We have audited the financial statements of B P C Building Products Limited (the 'company') for the year ended 30 November 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

B P C BUILDING PRODUCTS LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

B P C BUILDING PRODUCTS LIMITED

Auditors' responsibilities for the audit of the financial statements

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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- |  | the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for the directors' remuneration, bonus levels and performance targets; |

- |  | results of our enquiries of management and the board of directors about their own identification and assessment of the risks of irregularities; |

- |  | any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to: |

| - |  | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; |

| - |  | detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |

| - |  | the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; |

| - |  | the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. |

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified

Our procedure to respond to risks identified included the following:

- |  | reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |

- |  | enquiring of management and the board of directors concerning actual and potential litigation and claims; |

- |  | performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |

- |  | in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

B P C BUILDING PRODUCTS LIMITED

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

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

Dean McMullan (Senior Statutory Auditor)

for and on behalf of Allens Accountants Limited

Registered Auditors and

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

24 April 2026

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

INCOME STATEMENT

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 12,974,060 |  | 12,349,960 |  |

Cost of sales | 9,272,378 |  | 9,037,576 |  |

GROSS PROFIT | 3,701,682 |  | 3,312,384 |  |

Distribution costs | 564,133 |  | 442,519 |  |

Administrative expenses | 1,566,563 |  | 1,292,547 |  |

|  |  | 2,130,696 |  |  |  |  | 1,735,066 |  |

1,570,986 |  | 1,577,318 |  |

Other operating income | 15,373 |  | 13,964 |  |

OPERATING PROFIT | 5 | 1,586,359 |  | 1,591,282 |  |

Interest receivable and similar income | 44,399 |  | 15,660 |  |

1,630,758 |  | 1,606,942 |  |

Interest payable and similar expenses | 6 | - |  | 1,710 |  |

PROFIT BEFORE TAXATION | 1,630,758 |  | 1,605,232 |  |

Tax on profit | 7 | 415,733 |  | 404,205 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,215,025 |  | 1,201,027 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 NOVEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,215,025 |  | 1,201,027 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,215,025 |  | 1,201,027 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

BALANCE SHEET

30 NOVEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 1,281,212 |  | 1,281,524 |  |

CURRENT ASSETS

Stocks | 10 | 1,836,378 |  | 1,444,620 |  |

Debtors | 11 | 1,418,420 |  | 1,863,835 |  |

Cash at bank and in hand | 3,505,829 |  | 3,132,592 |  |

6,760,627 |  | 6,441,047 |  |

CREDITORS

Amounts falling due within one year | 12 | 1,879,696 |  | 2,415,804 |  |

NET CURRENT ASSETS | 4,880,931 |  | 4,025,243 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,162,143 |  | 5,306,767 |  |

PROVISIONS FOR LIABILITIES | 14 | 316,941 |  | 316,282 |  |

NET ASSETS | 5,845,202 |  | 4,990,485 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 3,002 |  | 3,002 |  |

Retained earnings | 16 | 5,842,200 |  | 4,987,483 |  |

SHAREHOLDERS' FUNDS | 5,845,202 |  | 4,990,485 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

Mr P D Travis - Director

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 NOVEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 December 2023 | 3,002 |  | 4,021,567 |  | 4,024,569 |  |

Changes in equity

Dividends | - |  | (235,111 | ) | (235,111 | ) |

Total comprehensive income | - |  | 1,201,027 |  | 1,201,027 |  |

Balance at 30 November 2024 | 3,002 |  | 4,987,483 |  | 4,990,485 |  |

Changes in equity

Dividends | - |  | (360,308 | ) | (360,308 | ) |

Total comprehensive income | - |  | 1,215,025 |  | 1,215,025 |  |

Balance at 30 November 2025 | 3,002 |  | 5,842,200 |  | 5,845,202 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1. | STATUTORY INFORMATION

| B P C Building Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Going concern

| After reviewing the Company's financial position, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future being a period of not less than 12 months from the date of approval of these financial statements. The Company therefore continues to adopt the going concern basis in preparing the financial statements.

| Presentational currency

| The financial statements are prepared in pound sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

| 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;

| • | the requirement of paragraph 3.17(d);

| • | the requirement of paragraph 33.7.

| Significant judgements and estimates

| Preparation of the financial statements requires management to make significant 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 for the year. However, the nature of estimation means that actual outcomes could differ from those 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 if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

| The directors do not consider there to be any significant judgements and estimates that require disclosure.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Plant & machinery | - | 15% on reducing balance

| Fixtures & fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the Income Statement.

| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in Income Statement.

| 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.

| Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

| 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 the profit or loss. Reversals of impairment losses are also recognised in the profit or loss.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and on hand, demand deposits, deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet, bank overdrafts are shown within borrowings or current liabilities.

| 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 rate method, less any impairment.

| Creditors

| Short term creditors are measured at the 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.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

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

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

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

| Research and development

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

| Foreign currencies

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

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period.The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| 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.

| Dividends.

| Dividends and other distributions to the Company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the Statement of Changes in Equity.

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, together with loans to and from related parties.

| Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable in one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transactions, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Sale of goods | 12,974,060 |  | 12,349,960 |  |

12,974,060 |  | 12,349,960 |  |

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 11,709,597 |  | 11,229,417 |  |

| Europe | 1,264,463 |  | 1,120,543 |  |

12,974,060 |  | 12,349,960 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,938,094 |  | 1,651,805 |  |

| Social security costs | 70,977 |  | 62,004 |  |

| Other pension costs | 39,889 |  | 9,347 |  |

2,048,960 |  | 1,723,156 |  |

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

| 2025 |  | 2024

| Directors | 3 |  | 3 |  |

| Sales and administration | 10 |  | 7 |  |

| Production and warehousing | 39 |  | 35 |  |

52 |  | 45 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 85,500 |  | 133,000 |  |

| Directors' pension contributions to money purchase schemes | 30,843 |  | 1,321 |  |

5. | OPERATING PROFIT

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

| 2025 |  | 2024

£ | £ |

| Other operating leases | 46,130 |  | 57,384 |  |

| Depreciation - owned assets | 270,889 |  | 220,291 |  |

| Auditors' remuneration | 12,925 |  | 12,500 |  |

| Foreign exchange differences | (15,373 | ) | (12,007 | ) |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Interest on tax | - |  | 1,710 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 415,074 |  | 374,359 |  |

| Deferred tax | 659 |  | 29,846 |  |

| Tax on profit | 415,733 |  | 404,205 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 1,630,758 |  | 1,605,232 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 407,690 |  | 401,308 |  |

| Effects of:

| Expenses not deductible for tax purposes | 8,043 |  | 2,897 |  |

| Total tax charge | 415,733 |  | 404,205 |  |

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary A shares of £0.10 each

| Interim | 342,293 |  | 188,089 |  |

| Ordinary B shares of £0.10 each

| Interim | 18,015 |  | 47,022 |  |

360,308 |  | 235,111 |  |

9. | TANGIBLE FIXED ASSETS

| Plant & |  | Fixtures |  | Motor |

| machinery |  | & fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 December 2024 | 2,959,779 |  | 486,762 |  | 115,859 |  | 3,562,400 |  |

| Additions | 193,928 |  | 68,178 |  | 8,471 |  | 270,577 |  |

| Disposals | - |  | (21,612 | ) | - |  | (21,612 | ) |

| At 30 November 2025 | 3,153,707 |  | 533,328 |  | 124,330 |  | 3,811,365 |  |

| DEPRECIATION

| At 1 December 2024 | 1,960,598 |  | 251,108 |  | 69,170 |  | 2,280,876 |  |

| Charge for year | 170,407 |  | 87,221 |  | 13,261 |  | 270,889 |  |

| Eliminated on disposal | - |  | (21,612 | ) | - |  | (21,612 | ) |

| At 30 November 2025 | 2,131,005 |  | 316,717 |  | 82,431 |  | 2,530,153 |  |

| NET BOOK VALUE

| At 30 November 2025 | 1,022,702 |  | 216,611 |  | 41,899 |  | 1,281,212 |  |

| At 30 November 2024 | 999,181 |  | 235,654 |  | 46,689 |  | 1,281,524 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

10. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 231,729 |  | 339,309 |  |

| Goods in transit | 34 |  | 2,531 |  |

| Finished goods | 1,604,615 |  | 1,102,780 |  |

1,836,378 |  | 1,444,620 |  |

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 1,357,203 |  | 1,810,324 |  |

| Other debtors | 3,786 |  | - |  |

| Prepayments and accrued income | 57,431 |  | 53,511 |  |

1,418,420 |  | 1,863,835 |  |

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 1,432,610 |  | 1,840,521 |  |

| Corporation tax | 193,149 |  | 228,329 |  |

| Social security and other taxes | 47,186 |  | 39,091 |  |

| VAT | 132,005 |  | 188,805 |  |

| Other creditors | 9,155 |  | 3,760 |  |

| Accruals and deferred income | 65,591 |  | 115,298 |  |

1,879,696 |  | 2,415,804 |  |

13. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 27,315 |  | 18,887 |  |

| Between one and five years | 27,503 |  | 18,129 |  |

54,818 |  | 37,016 |  |

14. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 316,941 |  | 316,282 |  |

| Deferred |

| tax |

£ |

| Balance at 1 December 2024 | 316,282 |  |

| Charge to Income Statement during year | 659 |  |

| Balance at 30 November 2025 | 316,941 |  |

B P C BUILDING PRODUCTS LIMITED (REGISTERED NUMBER: 01330662) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2025

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 28,519 | Ordinary A | £0.10 | 2,852 |  | 2,852 |  |

| 1,501 | Ordinary B | £0.10 | 150 |  | 150 |  |

3,002 |  | 3,002 |  |

| Each class of share, Ordinary A and Ordinary B gives their holders the right to participate in any dividends declared on that class of share, to vote at general meetings and to participate in any distribution winding up or sale of the business.

16. | RESERVES

| Retained earnings

| Includes all current and prior retained profits and losses.

17. | ULTIMATE CONTROLLING PARTY

| The ultimate parent undertaking of the Company is Vista Engineering Ltd, which is controlled by the directors. The smallest and largest group which the company is consolidated is headed by Vista Engineering Ltd. The consolidated accounts of Vista Engineering Ltd are available at Companies House.