REGISTERED NUMBER: 01639887 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 January 2026

for

Central Window Systems Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

9

Balance Sheet

10

Notes to the Financial Statements

11

DIRECTORS:

G Morton

M C Elwell

Ms K J Hughes

M J Kelly

SECRETARY:

Ms K J Hughes

REGISTERED OFFICE:

Units 9 - 10

Kelvin Way Trading Estate Kelvin Way

West Bromwich

West Midlands

B70 7TP

REGISTERED NUMBER:

01639887 (England and Wales)

AUDITORS:

Locke Williams Associates LLP

Chartered Accountants

Registered Auditors

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

The directors present their strategic report for the year ended 31 January 2026.

REVIEW OF BUSINESS

1. Economic Context:

•

Birmingham's economy is thriving, with ongoing investments in infrastructure and housing developments.

•

This creates a robust demand for windows in both residential and commercial sectors.

2. Consumer Trends:

•

There is a growing preference for energy-efficient glazing to reduce energy bills and carbon footprints.

•

There is also a rising interest in smart windows with features like self-tinting and remote control.

3. Regulatory Landscape:

•

Compliance with UK energy efficiency standards, such as Part L of Building Regulations, is critical.

•

There is an increasing emphasis on sustainable materials and recycling initiatives.

PRINCIPAL RISKS AND UNCERTAINTIES

The key Challenges to the business are:

1

Cost Pressures: Rising raw material costs and inflation may impact profit margins.

2

Skilled Labour Shortage: A gap in skilled workers for manufacturing and installation.

3

Competition: Intense competition from both local and national players.

OPPORTUNITIES

1. Sustainability:

•

We will continue to invest in recycled materials and low-carbon manufacturing processes.

•

We will promote eco-friendly certifications to attract environmentally conscious consumers.

2. Smart Technology:

•

We can further develop and market smart window solutions to meet growing tech-savvy consumer demand.

3. Government Incentives:

•

We can leverage grants and subsidies for energy-efficient home improvements.

FUTURE PLANS

Our strategic recommendations include:

1. Marketing & Branding:

•

Highlight energy savings and environmental benefits in marketing campaigns.

•

Build a strong online presence to reach younger, tech-savvy demographics.

2. Workforce Development:

•

Collaborate with local colleges to create apprenticeship programs.

•

Upskill existing employees to handle advanced manufacturing techniques.

3. Local Partnerships:

•

Partner with Birmingham-based construction firms and housing developers.

•

Engage with local councils to supply windows for public projects.

ON BEHALF OF THE BOARD:

Ms K J Hughes - Director

17 August 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2026.

DIRECTORS

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

G Morton

M C Elwell

Ms K J Hughes

M J Kelly

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

AUDITORS

The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Ms K J Hughes - Director

17 August 2026

Opinion

We have audited the financial statements of Central Window Systems Limited (the 'company') for the year ended 31 January 2026 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 31 January 2026 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

-

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud.

-

We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

-

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, FRS 102 and tax legislation.

-

We identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud.

-

Based on this understanding, our audit procedures included, but were not limited to, testing journals and other adjustments, considering the business rationale in relation to significant, unusual transactions and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to assumptions and judgements made by management.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.

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.

David Williams FCA FCCA (Senior Statutory Auditor)

for and on behalf of Locke Williams Associates LLP

Chartered Accountants

Registered Auditors

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

17 August 2026

TURNOVER

3

15,653,416

15,556,353

Cost of sales

10,558,899

10,577,621

GROSS PROFIT

5,094,517

4,978,732

Distribution costs

134,336

137,103

Administrative expenses

4,140,198

3,466,358

4,274,534

3,603,461

819,983

1,375,271

Other operating income

24

445,414

OPERATING PROFIT

5

820,007

1,820,685

Interest receivable and similar income

10,795

5,647

830,802

1,826,332

Interest payable and similar expenses

7

32,459

57,519

PROFIT BEFORE TAXATION

798,343

1,768,813

Tax on profit

8

204,968

344,038

PROFIT FOR THE FINANCIAL YEAR

593,375

1,424,775

Retained earnings at beginning of year

4,971,489

4,167,689

Dividends

9

-

(620,975

)

RETAINED EARNINGS AT END OF YEAR

5,564,864

4,971,489

FIXED ASSETS

Intangible assets

10

-

340

Tangible assets

11

1,114,025

1,273,171

1,114,025

1,273,511

CURRENT ASSETS

Stocks

12

922,541

932,170

Debtors

13

6,724,731

6,345,494

Cash at bank and in hand

617,937

531,569

8,265,209

7,809,233

CREDITORS

Amounts falling due within one year

14

3,385,581

3,536,857

NET CURRENT ASSETS

4,879,628

4,272,376

TOTAL ASSETS LESS CURRENT LIABILITIES

5,993,653

5,545,887

CREDITORS

Amounts falling due after more than one year

15

(150,376

)

(256,244

)

PROVISIONS FOR LIABILITIES

20

(277,808

)

(317,549

)

NET ASSETS

5,565,469

4,972,094

CAPITAL AND RESERVES

Called up share capital

21

605

605

Retained earnings

22

5,564,864

4,971,489

SHAREHOLDERS' FUNDS

5,565,469

4,972,094

The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2026 and were signed on its behalf by:

Ms K J Hughes - Director

1.	STATUTORY INFORMATION

Central Window Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The principle activity of the company is the fabrication and sale of PVCu products.

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.

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).

Turnover

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

Turnover is derived from the sale of goods, recognised on dispatch and falling within the company's ordinary activities.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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. Amounts 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.

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.

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.

Hire purchase and leasing commitments

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

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

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

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:

31.1.26

31.1.25

£

£

Sale of goods

15,653,416

15,556,353

15,653,416

15,556,353

An analysis of turnover by geographical market is given below:

31.1.26

31.1.25

£

£

United Kingdom

15,653,416

15,556,353

15,653,416

15,556,353

4.	EMPLOYEES AND DIRECTORS

31.1.26

31.1.25

£

£

Wages and salaries

3,351,142

3,175,121

Social security costs

356,685

283,703

Other pension costs

100,318

98,844

3,808,145

3,557,668

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

31.1.26

31.1.25

Factory floor

64

63

Office staff

27

24

Maintenance

1

1

Drivers/Warehouse

16

16

Cleaners

1

2

Directors

4

4

113

110

31.1.26

31.1.25

£

£

Directors' remuneration

103,982

123,631

Directors' pension contributions to money purchase schemes

12,000

12,000

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

Money purchase schemes

2

2

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.1.26

31.1.25

£

£

Hire of plant and machinery

26,422

37,429

Other operating leases

363,332

318,882

Depreciation - owned assets

164,440

173,851

Depreciation - assets on hire purchase contracts

137,827

114,270

Loss on disposal of fixed assets

967

2,142

Foreign exchange differences

1,077

2,343

6.	EXCEPTIONAL ITEMS

31.1.26

31.1.25

£

£

Exceptional items

-

404,072

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.1.26

31.1.25

£

£

Bank loan interest

1,615

12,008

Interest on late payments of tax

-

349

Hire purchase interest

30,844

45,162

32,459

57,519

8.

TAXATION

Analysis of the tax charge

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

31.1.26

31.1.25

£

£

Current tax:

UK corporation tax

241,259

399,915

Prior year under/over adjustments

3,450

444

Total current tax

244,709

400,359

Deferred tax

(39,741

)

(56,321

)

Tax on profit

204,968

344,038

UK corporation tax was charged at 25%) in 2025.

Reconciliation of total tax charge included in profit and loss

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

31.1.26

31.1.25

£

£

Profit before tax

798,343

1,768,813

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

199,586

442,203

Effects of:

Expenses not deductible for tax purposes

1,932

3,902

Adjustments to tax charge in respect of previous periods

3,450

444

Effect of group surrender of losses

-

(102,511

)

Total tax charge

204,968

344,038

9.

DIVIDENDS

31.1.26

31.1.25

£

£

Ordinary A shares of £1 each

Interim

-

620,975

10.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 February 2025

340

Disposals

(340

)

At 31 January 2026

-

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

340

11.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2025

158,877

1,938,701

202,263

247,732

2,547,573

Additions

-

24,665

19,181

102,406

146,252

Disposals

-

(5,575

)

(21,602

)

(56,462

)

(83,639

)

At 31 January 2026

158,877

1,957,791

199,842

293,676

2,610,186

DEPRECIATION

At 1 February 2025

112,954

833,384

132,700

195,364

1,274,402

Charge for year

23,929

181,833

29,835

66,670

302,267

Eliminated on disposal

-

(2,602

)

(21,444

)

(56,462

)

(80,508

)

At 31 January 2026

136,883

1,012,615

141,091

205,572

1,496,161

NET BOOK VALUE

At 31 January 2026

21,994

945,176

58,751

88,104

1,114,025

At 31 January 2025

45,923

1,105,317

69,563

52,368

1,273,171

The net book value of tangible fixed assets includes £ 469,169 (2025 - £ 651,370 ) in respect of assets held under hire purchase contracts.

12.

STOCKS

31.1.26

31.1.25

£

£

Raw materials

750,279

699,976

Work-in-progress

100,067

85,894

Finished goods

72,195

146,300

922,541

932,170