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Registered number:
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DoorCo Limited
Company Information
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DoorCo Limited
Contents
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DoorCo Limited
Strategic Report
For the Year Ended 31 December 2025
The directors present their Strategic Report for the year ended 31 December 2025.
The principal activity of the Company is that of importing, distributing, and prepping high quality composite doors for wholesale and retail markets. This is supported by an extensive marketing and technical support package which encourages customer loyalty and brand credibility.
Business review 2025 showed a really strong performance with over 17% growth in revenue coming from both new customers moving to Doorco to benefit from better quality products and improved service levels, and existing customers expanding the range of products and services they take from Doorco. This strong growth in top line revenue combined with strong cost control across the business helped to mitigate unavoidable material cost increases and national minimum wage and national insurance increases. The Company continued to develop its product range with further expansions in the BRiTDOR range. Several customers completed their adoption of the FiRECORE range benefitting from the most comprehensive selection of composite fire doors in the UK market. Overall performance saw turnover increase from £41.9m to £49.1m (17.1% increase) and Earnings before Interest, Tax, Depreciation and Amortisation ('EBITDA') increased by 28% from £4.1m to £5.3m. Health and Safety, Quality and Environment continues to be a key focus for the Company, with an ongoing programme of work to continually improve standards, training and awareness particularly, ahead of our ISO Accreditation activity.
The management of the business and execution of the Company’s strategy are subject to several risks which include:
• Political and economic policies both locally and globally • Raw material pricing and supply • Market behaviour and cost of living • Labour availability and rates • Competitor activities The Company considers the impact of these risks on a regular basis and takes steps to mitigate these through open and honest communication with suppliers, customers and employees. The business works hard to stay ahead of the competition through innovations and strong customer support.
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DoorCo Limited
Strategic Report (continued)
For the Year Ended 31 December 2025
The Directors of Doorco Limited have acted in accordance with their duties codified in law, which include their duty to act in the way in which they consider, in good faith, would be the most likely to promote the success of the Company, having regard to the stakeholders and matters set out in section 172(1) of the Companies Act 2006. In doing so, the Directors have considered (amongst other matters):
i. The likely consequences of any decision in the long term; ii. The interests of the Company’s employees; iii. The need to foster the Company’s business relationships with suppliers, customers and others; iv. The impact of the Company’s operations on the community and the environment, and v. The desirability of the Company maintaining a reputation for high standards of business conduct. Doorco has four core values at the heart of every decision: • People: We care for and collaborate with our colleagues, partners and customers to ensure success; • Innovation: We show our creativity and connectivity by constantly innovating; • Agility: Being tenacious, pro-active and fast thinking allows us to remain agile and ahead, and • Quality: We show attention to detail and commit to learning and improving to ensure we get things right. Stakeholders The Board recognises that building strong, honest and lasting relationships with our stakeholders will help us to deliver our strategy in line with our values and operate a sustainable business. The Board regularly discusses issues concerning employees, customers, suppliers, the community and environment, and regulators, which it considers in its discussions and in its decision-making process. Employees Our employees contribute to a positive working culture and healthy working environment. Employees are key to the success of our business. In addition to aiming to be a responsible employer in our approach to pay and benefits, we continue to engage with our team to ascertain which training and development opportunities should be made available to improve our team productivity and individual employees’ potential within the business. We continually invest in employee development and welfare to create and encourage an inclusive culture within the organisation.
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DoorCo Limited
Strategic Report (continued)
For the Year Ended 31 December 2025
Customers
Our customers are critical to the on-going performance of the business. Our sales and customer service teams build lasting relationships with current and potential customers to understand their objectives and requirements. Suppliers The business fosters positive and long-standing relationships with suppliers. The quality of our product is in part dependent on the relationship we build with key suppliers. We monitor our performance against agreed payment and quality terms and remain committed to being fair and transparent in our dealings with our suppliers.
This report was approved by the board and signed on its behalf.
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DoorCo 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 Strategic Report, the Directors' Report and the 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 Company's financial statements and then apply them consistently;
∙make judgments 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 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,978,240 (2024 - £2,254,350).
The directors do not recommend the payment of a final dividend.
The directors who served during the year were:
At the end of 2025, the Company consolidated two of its three warehouses, which has made significant savings and will lead to increased efficiencies.
The Company reviews customer, legislative and technology changes on a regular basis and has projects ongoing to continually improve its product and services to remain competitive in the market.
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DoorCo Limited
Directors' Report (continued)
For the Year Ended 31 December 2025
The Company's principal financial instruments comprise trade debtors, loans to related entities, trade creditors, invoice discounting and hire purchase contracts. The Company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the Company by monitoring the factors that affects relevant financial risks.
Credit risk is managed by running credit checks on new customers and by monitoring payments against the contractual arrangements. The Company has no significant concentration of credit risk, with exposure spread over a number of customers. The credit risk on financial instruments is assessed to be low, being a secured loan to a related entity. With regards to liquidity risk, the objective is to ensure continuity of funding and cash levels sufficient to meet the ongoing needs of the business. The policy is to smooth the cash management of the business and to arrange funding ahead of requirements, should it be needed. The Company minimises the requirements for foreign currencies by sourcing key materials from suppliers who accept payment in GBP. Where this is not possible, we forecast our currency requirements and if levels are significant, forward buy to minimise rate fluctuations. The Company recognises that managing cash flow risk is crucial to maintaining financial stability and ensuring the smooth operation of our business. Our cash flow risk policy aims to safeguard the company against potential liquidity shortages and ensure that we have sufficient cash to meet our obligations as they fall due. We maintain detailed cash flow forecasts to anticipate our cash needs. These forecasts are regularly updated to reflect changes in business operations, market conditions, and other external factors. Efficient credit control processes are in place to manage receivables and ensure timely collections from customers. This helps maintain a steady cash inflow. We closely monitor our expenditure, maintaining a healthy cash balance and avoiding unnecessary financial strain.
The Company prides itself on developing its product range through investing in equipment to improve the capabilities and quality of the products. DoorCo also works with its partners and suppliers to research and develop ways to improve the thermal qualities and strength and security of the product ranges.
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DoorCo Limited
Directors' Report (continued)
For the Year Ended 31 December 2025
Energy consumption data has been compiled from utility invoices, fuel records, and internal reporting systems. Greenhouse gas emissions have been calculated using the 2025 UK Government GHG Conversion Factors for Company Reporting, published by the Department for Environment, Food & Rural Affairs. Emissions are reported in tonnes of carbon dioxide equivalent (tCO2e). All emission factors are applied on a gross calorific value basis, consistent with UK reporting guidance.
During the reporting period, the Company has implemented a number of measures aimed at improving energy efficiency. These include:
• Monitoring and review of energy consumption across operational sites; • Implementation of operational controls to minimise unnecessary energy use including a full replacement programme of lighting to energy efficient LED lighting; and • Identification and assessment of further opportunities for improvements in heating, and equipment efficiency. The Company will continue to evaluate and implement energy efficiency initiatives as part of its ongoing commitment to reducing environmental impact.
DoorCo’s intensity ratio for the reporting period is 23.3 tCO2e per £m turnover, calculated using total Scope 1 and Scope 2 emissions divided by the annual turnover for 2025 (rounded).
This is DoorCo’s first reporting year so there is no comparison during this reporting period. This metric will be used for year on year tracking.
Subsequent to the year end, in February 2026, the entire share capital of the Company was acquired by Orange Assets Bidco 2 Limited (company number 16966117).
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DoorCo Limited
Directors' Report (continued)
For the Year Ended 31 December 2025
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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DoorCo Limited
Independent Auditors' Report to the Members of DoorCo Limited
We have audited the financial statements of DoorCo Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Analysis of Net Debt, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, 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 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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DoorCo Limited
Independent Auditors' Report to the Members of DoorCo Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the 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 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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DoorCo Limited
Independent Auditors' Report to the Members of DoorCo 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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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:
Identifying and assessing potential risks related to irregularities In identifying and assessing the 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 in which the company operates; the control environment and business performance including key drivers for performance targets. • The outcome of enquiries of management, including whether management was aware of any instances of non- compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud. • Supporting documentation relating to the Company's policies and procedures for: - Identifying, evaluating, and complying with laws and regulations - Detecting and responding to the risks of fraud • The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. • The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. • The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, tax legislation, or which had a fundamental effect on the operations of the Company. Audit response to risks identified Our procedures to respond to the risks identified included the following: • Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements. • Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud. • Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities. • Enquiring of management about any actual and potential litigation and claims. • Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud. We have also considered the risk of fraud through management override of controls by: • Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error. • Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and • Evaluating the rationale of any significant transactions that are unusual or outside the normal course of business.
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DoorCo Limited
Independent Auditors' Report to the Members of DoorCo Limited (continued)
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.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, 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.
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 Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' 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
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Cheshire
SK1 3GG
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DoorCo Limited
Statement of Comprehensive Income
For the Year Ended 31 December 2025
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DoorCo Limited
Registered number: 06444960
Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 33 form part of these financial statements.
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DoorCo Limited
Statement of Changes in Equity
For the Year Ended 31 December 2025
Statement of Changes in Equity
For the Year Ended 31 December 2024
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DoorCo Limited
Statement of Cash Flows
For the Year Ended 31 December 2025
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DoorCo Limited
Statement of Cash Flows (continued)
For the Year Ended 31 December 2025
Analysis of Net Debt
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
The Company is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is Motorway House, Charter Way, Macclesfield, Cheshire, SK10 2NY. The Company's registered number is 06444960.
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 management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The estimated useful lives range as follows:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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DoorCo 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.
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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
The directors believe that judgements, estimates and assumptions do not have a significant risk of causing a material difference to the carrying amount of the assets and liabilities within the next financial year.
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Capital redemption reserve
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £214,181 (2024: £139,209). Contributions totalling £51,341 (2024: £27,153) were payable to the fund at the balance sheet date and are included in creditors.
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DoorCo Limited
Notes to the Financial Statements
For the Year Ended 31 December 2025
Loans made to directors during 2023 remained payable by a director at 31 December 2025. Interest was charged at 2% per annum on overdrawn amounts. The loan was repaid in full subsequent to the year-end.
During the year and at the reporting date, the Company was jointly controlled by D Sullivan & J E Sullivan.
Subsequent to the year end, in February 2026, the entire share capital of the Company was acquired by Orange Assets Bidco 2 Limited (company number 16966117). The ultimate parent undertaking is now Orange UK Holdings Limited and the ultimate controlling party is S Orange.
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