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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
COMPANY INFORMATION
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LINDNER EXTERIORS HOLDING LIMITED
CONTENTS
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LINDNER EXTERIORS HOLDING LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Group turnover for the year ending 31 December 2025 was £1,983,058. The year ended with a Group profit before tax of £8,586,693 largely resulting from a loan waiver from a fellow group company.
Operational review The safety and quality performance achieved during 2025 remained strong and continues to be a key area of focus embedded within the Group culture. The commitment to developing defect-free building envelopes continues.
The Group strives through rigorous management review of its key performance indicators, to increase and improve its capability and competence through constant innovation and continuous improvement.
A principal risk facing specialist contractors is ensuring that contracts are completed to a first-class quality, on time and within budget. Close management review and monitoring of projects ensures that this is achieved. The Group’s uncompromising approach to the health and safety of every employee, client and supplier is a key cornerstone of the Group’s belief system. The Directors and management teams comprehensively review safety performance as a priority at all management meetings. The Group has credit insurance provided by TMHCC on all of its customers to minimise exposure to bad debts.
The Directors have monitored the progress of the Group's strategic elements by reference to certain financial key performance indicators:
2025 2024 Gross margin % 92.73% 24.55% Net margin % 433 % 7.26% Cash and cash equivalents £0.2m £2.6m
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LINDNER EXTERIORS HOLDING LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
This statement explains how the Directors have engaged with suppliers, customers and other stakeholders; and the need to foster the Group’s business relationships with suppliers, customers and others, and the impact of the Group’s operations on the community and the environment.
General confirmation of Directors’ duties When making decisions, each Director ensures that he acts in good faith in a way which promotes the Group’s success, for the benefit of its members as a whole. In doing so each director has regard to the following (but not limited to) matters: The likely consequences of any decision in the long term The Directors understand the construction business and also the evolving market in which we operate. The Group is totally focussed on meeting the needs of the market operated within. To this end, the Group continually invests in developing solutions which provide first class processes from design through to installation. Long term planning is reviewed at Board meetings as well as at other separate meetings during the year, when the consequences of decisions and future plans are considered. The need to foster the Group’s business relationships with suppliers, customers and others Delivering the Group's strategy requires strong mutually beneficial relationships with suppliers, subcontractors, customers, and joint-venture partners. The Group has built relationships with stakeholders through industry events, charity fund raising, supplier workshops, close collaboration on projects and other reasons designed to engage with these stakeholders. Particular emphasis is placed upon health, safety and quality. The culture and performance of the Group's customers and sub-contractors is monitored continually using detailed statistics and reporting to ensure standards are maintained at the highest level. If issues arise they are dealt with immediately at the appropriate level internally or with the customer, supplier or contractor. This is one of many measures which the Group uses to help foster relationships with these stakeholders. The Directors regularly receive information updates on a variety of topics that indicate and inform how these stakeholders have been engaged. The desirability of the Group maintaining a reputation for high standards of business conduct The directors aim to meet the highest standards for the Group's reputation and business conduct. Within the markets that the Group works, its reputation is key and all standards have to be maintained throughout the business to achieve this.
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LINDNER EXTERIORS HOLDING LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Being part of the Lindner Group Corporate social responsibility programme is central to the working culture and this extends across the Group's health and safety responsibilities, community activities and environmental systems.
The directors recognise that fulfilling the Group's moral, financial and legal obligations to both its internal and external stakeholders will bring significant and tangible benefits to the business. The Group operates within the Lindner framework of values: I am honest, I am open, I say what I expect, I am disciplined, I pursue common aims, I respect my colleagues, I trust my colleagues, I share success with my colleagues. The Group aligns its Core Values, Vision, Mission and business strategy with the social and economic needs of its stakeholders, whilst embedding responsible and ethical business policies and practices into everything it does. The need to act fairly as between members of the Group The Group only has one shareholder and so will always act fairly between members. The Directors consider which course of action best enables delivery of the Group's strategy with regard to the long-term, taking into consideration the impact on stakeholders. This will normally be in the best long term interests of most of the Group's stakeholders, however although our Directors will act fairly regarding the sole shareholder, they are not required to balance the Group’s interest with those of other external stakeholders.
This report was approved by the Board and signed on its behalf.
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LINDNER EXTERIORS HOLDING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present their report and the financial statements for the year ended 31 December 2025.
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Group's financial statements 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;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £9,403,633 (2024 - £778,956).
The Directors have not recommended or paid a final dividend during the year (2024 - £NIL).
The Directors who served during the year were:
We have continued to keep all of our stakeholders, which includes our clients and supply chain regularly informed of our progress and see this as key to our future success.
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LINDNER EXTERIORS HOLDING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Under section 487(2) of the Companies Act 2006, MHA will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the Board and signed on its behalf.
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LINDNER EXTERIORS HOLDING LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LINDNER EXTERIORS HOLDING LIMITED
We have audited the financial statements of Lindner Exteriors Holding Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, 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).
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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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 Group's or the Parent 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.
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LINDNER EXTERIORS HOLDING LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LINDNER EXTERIORS HOLDING LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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LINDNER EXTERIORS HOLDING LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LINDNER EXTERIORS HOLDING LIMITED (CONTINUED)
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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management, those charged with governance and the Group’s in-house legal team around actual and potential litigation and claims; - Enquiry of staff in compliance functions to identify any instances of non-compliance with laws and regulations; - Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the busines rationale of significant transactions outside the normal course of business and revieweing accounting estimates for bias; and - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
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 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 Auditor's Report.
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LINDNER EXTERIORS HOLDING LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LINDNER EXTERIORS HOLDING LIMITED (CONTINUED)
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.
for and on behalf of
Statutory Auditor
London United Kingdom
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
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LINDNER EXTERIORS HOLDING LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
REGISTERED NUMBER: 07579925
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 31 form part of these financial statements.
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LINDNER EXTERIORS HOLDING LIMITED
REGISTERED NUMBER: 07579925
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 31 form part of these financial statements.
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LINDNER EXTERIORS HOLDING LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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LINDNER EXTERIORS HOLDING LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Lindner Exteriors Holding Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office and the registration number are given in the company information page of these financial statements.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The group made a profit of £9,403,633 (2024: £778,956) for the year and had net assets of £618,836 (2024: £8,784,797 net liabilities) at the year end. The Directors consider that the Group has sufficient liquid resources and support to enable the Group to cover its costs and pay its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements.
Consequently, the Directors have concluded that there are no material uncertainties that may cast significant doubt about the Group’s ability to continue as a going concern for the next 12 months from the date of approval of these financial statements. Accordingly, the going concern basis has been adopted in preparing the financial statements.
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
The Group performs contract activity in the construction sector. When the outcome of a construction contract can be estimated reliably in terms of its stage of completion, future costs to complete and collectability of billings, the group recognises revenue and expenses on construction contracts by reference to the stage of completion of the contract activity at the end of the reporting period. The stage of completion is determined on the basis of the work performed and attributable value confirmed by the customer's surveyor as a proportion of the anticipated total contract value.
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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 Consolidated Statement of Comprehensive Income. 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 of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position 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. 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 subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives. The key estimation uncertainty impacting the group's activities relates to the measurement of the performance of long term contracts. All revenue in the year relates to long term contracts in the construction industry and management is required to make estimates regarding the future performance of those contracts in determining its current year performance. The carrying amount at the year-end of assets and liabilities relating to long term contracts are disclosed in Notes 14 and 16 of the financial statements.
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Taxation (continued)
At 31 December 2025 there is a potential deferred tax asset of £5,335,141 representing trading losses of £21,340,562 at the enacted rate of 25% (2024: £5,762,177 representing trading losses of £23,048,709 at the enacted rate of 25%). The deferred tax asset has not been recognised due to the uncertainty that future profits will arise against which the losses carried forward can be relieved against.
At 31 December 2025 there is a Research and Development Expenditure Claim balance of £220,016 (2024: £220,016) which is available for recovery.
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Profit and loss account
Throughout the year the company had potential exposure to costs on its long term contracts. The potential level of the group's exposure to costs on the relevant contacts is uncertain as various assessments by specialists and insurers are required to determine which party is liable for any defective works. The process of reviewing the contracts remains ongoing so it is uncertain as to the amounts and timings of any future settlement. For these reasons there is no provision for these costs included as a liability in the financial statements for the year ended 31 December 2025 as it is not practicable to be able to reliably estimate the future costs.
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LINDNER EXTERIORS HOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The ultimate parent undertaking of the largest group for which consolidated financial statements are drawn up, and of which the company is a member, is Lindner Group KG, its registered office is Bahnhofstrasse 29, 94424 Arnstorf, Germany. Copies of the consolidated financial statements are available from the registered office.
The smallest group for which consolidated financial statements are drawn up, and of which the company is a member, is Lindner Fassaden GmbH, its registered office is Bahnhofstrasse 29, 94424 Arnstorf, Germany. Copies of the consolidated financial statements are available the registered office. In the opinion of the Directors the parent company is Lindner Fassaden GmbH. In the opinion of the Directors the ultimate controlling party is Lindner Group KG.
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