REGISTERED NUMBER: 09986216 (England and Wales)

Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 28 February 2026

for

C T Glass Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTOR:

G Thirkell

REGISTERED OFFICE:

3rd Floor

56 Wellington Street

Leeds

LS1 2EE

REGISTERED NUMBER:

09986216 (England and Wales)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

3rd Floor

56 Wellington Street

Leeds

West Yorkshire

LS1 2EE

The director presents his strategic report of the company and the group for the year ended 28 February 2026.

The principal activity of C T Glass Holdings Limited during the year was that of a holding company for C T Glass Limited, whose principal activity during the year was that of shaping and processing of flat glass.

There have not been any significant changes in the Group's activities in the year under review.

REVIEW OF BUSINESS

Turnover in 2026 of £10,422,323 was higher than 2025 turnover of £9,036,445. Reserves are also held by the Group and were £901,490 at the end of 2026, having been £967,685 at the end of 2025.

The business continues to perform at a constantly high level and in line with management's expectations.

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks and uncertainties affecting the Company are considered to relate to competition and

the market forces within the industry.

FINANCIAL KEY PERFORMANCE INDICATORS

Financial performance is measured by turnover and operating profit. Turnover was higher in 2026 compared to 2025, as set out above.

Operating profit was £341,337 in 2026, compared to £597,366 in 2025.

FUTURE DEVELOPMENTS

The directors intentions are to continue the strong performance of the business in these admittedly difficult

trading conditions

ON BEHALF OF THE BOARD:

G Thirkell - Director

25 June 2026

The director presents his report with the financial statements of the company and the group for the year ended 28 February 2026.

DIVIDENDS

Particulars of dividends paid are detailed in the notes to the financial statements.

DIRECTOR

G Thirkell held office during the whole of the period from 1 March 2025 to the date of this report.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Group holds or issues financial instruments in order to achieve three main objectives, being:

(a) to finance its operations;

(b) to manage its exposure to interest and currency risks arising from its operations and from its sources of finance; and

(c) for trading purposes.

In addition, various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise directly from the Group's operations.

Transactions in financial instruments result in the Group assuming or transferring to another party one or more of the financial risks described to credit risk.

Credit risk

The Group monitors credit risk closely and considers that its current policies of credit checks meets its objectives of managing exposure to credit risks.

The Group has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, S&W Audit (a trading name of S&W Partners Audit Limited), will be proposed for re-appointment at the forthcoming Annual General Meeting in accordance with section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

G Thirkell - Director

25 June 2026

Opinion

We have audited the financial statements of C T Glass Holdings Limited (the 'parent company') and its subsidiary (the 'group') for the year ended 28 February 2026 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company's affairs as at 28 February 2026 and of the group's 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 group and parent 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 director's 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 and 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Group Strategic Report, Report of the Director and Consolidated Financial Statements, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the Group Strategic Report, Report of the Director and Consolidated Financial Statements. Our opinion on the financial statements does not cover the other information and 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.

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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Group Strategic Report and the Report of the Director 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 group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained a general understanding of the Group and Parent Company's legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity's policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the Group and Parent Company's industry and regulation.

We understand that the Group and Parent Company complies with the framework through:

- Subscribing to relevant updates from external experts and making changes to internal procedures and controls as necessary.

- The Director's close involvement in the day-to-day running of the business, meaning that any litigation or claims would come to his attention directly.

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the Group and Parent Company's ability to conduct its business, and/or where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the Group and Parent Company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements.

- UK Taxation Law

- Specific industry standards

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

- Made enquiries of management regarding compliance with laws and regulations and any known non-compliance in the year

- Reviewed legal expense accounts

- Obtained written management representations regarding the adequacy of procedures in place.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur.

The areas identified in this discussion were:

- Manipulation of the financial statements, especially revenue, via fraudulent manual journal entries

- Incorrect recognition of revenue.

The procedures we carried out to gain evidence in the above areas included:

- Testing of manual journal entries, selected based on specific risk assessments applied based on the client processes and controls surrounding manual journals; and

- Testing a sample of revenue transactions to underlying documentation, including ensuring revenue is recognised in the correct period and has occurred.

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.

Other matter

The financial statements of CT Glass Holdings Limited for the year ended 28 February 2025 were unaudited.

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.

Matthew Barton BA (Hons) FCA CTA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Statutory Auditor

Chartered Accountants

3rd Floor

56 Wellington Street

Leeds

West Yorkshire

LS1 2EE

25 June 2026

TURNOVER

5

10,422,323

9,036,445

Cost of sales

(7,857,432

)

(6,504,168

)

GROSS PROFIT

2,564,891

2,532,277

Administrative expenses

(2,229,636

)

(1,934,911

)

OPERATING PROFIT

7

335,255

597,366

Interest receivable and similar income

8

702

756

335,957

598,122

Interest payable and similar expenses

9

(167,376

)

(149,947

)

PROFIT BEFORE TAXATION

168,581

448,175

Tax on profit

10

(111,438

)

(133,135

)

PROFIT FOR THE FINANCIAL YEAR

57,143

315,040

FIXED ASSETS

Intangible assets

13

-

83,114

Tangible assets

14

3,310,432

2,767,378

Investments

15

-

-

3,310,432

2,850,492

CURRENT ASSETS

Stocks

16

670,889

717,833

Debtors

17

1,911,636

1,696,411

Cash at bank and in hand

271,027

267,109

2,853,552

2,681,353

CREDITORS

Amounts falling due within one year

18

(2,008,291

)

(1,667,142

)

NET CURRENT ASSETS

845,261

1,014,211

TOTAL ASSETS LESS CURRENT LIABILITIES

4,155,693

3,864,703

CREDITORS

Amounts falling due after more than one year

19

(1,838,575

)

(1,588,266

)

PROVISIONS FOR LIABILITIES

23

(620,089

)

(508,651

)

NET ASSETS

1,697,029

1,767,786

CAPITAL AND RESERVES

Called up share capital

24

800,101

800,101

Retained earnings

25

896,928

967,685

SHAREHOLDERS' FUNDS

1,697,029

1,767,786

The financial statements were approved by the director and authorised for issue on 25 June 2026 and were signed by:

G Thirkell - Director

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

-

-

Investments

15

4,064,660

4,064,660

4,064,660

4,064,660

CURRENT ASSETS

Debtors

17

101

101

Cash at bank

94

87

195

188

CREDITORS

Amounts falling due within one year

18

(64,660

)

(64,660

)

NET CURRENT LIABILITIES

(64,465

)

(64,472

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,000,195

4,000,188

CAPITAL AND RESERVES

Called up share capital

24

800,101

800,101

Retained earnings

3,200,094

3,200,087

SHAREHOLDERS' FUNDS

4,000,195

4,000,188

Company's profit for the financial year

127,907

119,900

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

The financial statements were approved by the director and authorised for issue on 25 June 2026 and were signed by:

G Thirkell - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2024

800,101

772,495

1,572,596

Changes in equity

Dividends

-

(119,850

)

(119,850

)

Total comprehensive income

-

315,040

315,040

Balance at 28 February 2025

800,101

967,685

1,767,786

Changes in equity

Dividends

-

(127,900

)

(127,900

)

Total comprehensive income

-

57,143

57,143

Balance at 28 February 2026

800,101

896,928

1,697,029

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2024

800,101

3,200,037

4,000,138

Changes in equity

Dividends

-

(119,850

)

(119,850

)

Total comprehensive income

-

119,900

119,900

Balance at 28 February 2025

800,101

3,200,087

4,000,188

Changes in equity

Dividends

-

(127,900

)

(127,900

)

Total comprehensive income

-

127,907

127,907

Balance at 28 February 2026

800,101

3,200,094

4,000,195

Cash flows from operating activities

Cash generated from operations

1

1,045,230

1,020,325

Interest paid

(21,107

)

(20,830

)

Interest element of hire purchase payments paid

(146,269

)

(129,117

)

Tax paid

-

14,446

Net cash from operating activities

877,854

884,824

Cash flows from investing activities

Purchase of tangible fixed assets

(1,128,333

)

(1,574,378

)

Sale of tangible fixed assets

51,000

-

Interest received

702

756

Net cash from investing activities

(1,076,631

)

(1,573,622

)

Cash flows from financing activities

Capital repayments in year

330,595

807,299

Equity dividends paid

(127,900

)

(119,850

)

Net cash from financing activities

202,695

687,449

Increase/(decrease) in cash and cash equivalents

3,918

(1,349

)

Cash and cash equivalents at beginning of year

2

267,109

268,458

Cash and cash equivalents at end of year

2

271,027

267,109

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

2026

2025

£

£

Profit for the financial year

57,143

315,040

Depreciation charges

534,832

389,260

Profit on disposal of fixed assets

(553

)

-

Amortisation charges

83,114

83,114

Finance costs

167,376

149,947

Finance income

(702

)

(756

)

Taxation

111,438

133,135

952,648

1,069,740

Decrease in stocks

46,944

27,867

Increase in trade and other debtors

(215,225

)

(61,191

)

Increase/(decrease) in trade and other creditors

260,863

(16,091

)

Cash generated from operations

1,045,230

1,020,325

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 28 February 2026

28/2/26

1/3/25

£

£

Cash and cash equivalents

271,027

267,109

Year ended 28 February 2025

28/2/25

1/3/24

£

£

Cash and cash equivalents

267,109

268,458

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/3/25

Cash flow

At 28/2/26

£

£

£

Net cash

Cash at bank and in hand

267,109

3,918

271,027

267,109

3,918

271,027

Debt

Finance leases

(2,088,990

)

(330,595

)

(2,419,585

)

Debts falling due within 1 year

(45,125

)

45,125

-

(2,134,115

)

(285,470

)

(2,419,585

)

Total

(1,867,006

)

(281,552

)

(2,148,558

)

1.	STATUTORY INFORMATION

C T Glass Holdings 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 General Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions

FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including notification of, and no objection to, the use of exemptions by the Company's members.

The Company's subsidiary C T Glass Limited has taken advantage of the following exemptions:

(i) from preparing a statement of cash flows, on the basis that it is a qualifying entity and the Company's results will be included within the consolidated financial statements of C T Glass Holdings Limited and so the Company's cash flows will be included within the consolidated statement of cash flows which will be included in those financial statements.

(ii) from the financial instrument disclosures, required under FRS 102 paragraphs 11.42 to 11.48C and paragraphs 12.26 to 12.29, as the information is provided in the consolidated financial statement disclosures.

(iii) from disclosing transactions with members of the C T Glass Holdings Limited group as the Company is a wholly owned subsidiary of C T Glass Holdings Limited.

(iv) from disclosing key management personnel compensation.

Basis of consolidation

The consolidated financial statements present the results of the Group and its own subsidiaries ("the Group") as they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated.

The consolidated financial statements incorporate the results if business combinations using the purchase method. In the balance sheet, 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 deconsolidated from the date control ceases.

Turnover

Turnover is recognised to the extent that is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Interest income

Interest income is recognised in the profit and loss account in the period in which it is receivable.

Finance costs

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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 each asset over its estimated useful life.

Plant and machinery

-

10% Straight line

Fixtures and fittings

-

33% straight line

Motor vehicles

-

20% - 25% straight line

Tangible fixed assets under the cost model are stated at historic cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 in the profit and loss account.

Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Investments

Investments in subsidiaries are measured at cost less accumulated depreciation.

Stocks

Stocks and work-in-progress are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work-in-progress include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss recognised is immediately in the profit and loss account.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, a the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term loan instrument constitute a financing transaction, 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 the 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies

The presentation currency of these Financial Statements is Sterling.

Transactions in foreign currencies are translated to the Company's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Non-monetary assets and liabilities that are measured in terms of historical cost in foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are retranslated to the functional currency at the foreign exchange rate ruling at the dates the fair value was determined. Foreign exchange differences arising on translation are recognised in the profit and loss account, except for differences arising on the retranslation of qualifying cash flow hedges and items which are fair valued with changes taken to other comprehensive income, which are recognised in other comprehensive income.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that readily convertible to known amounts of cash with significant risk of change in value.

Creditors

Short term creditors are measured at transaction price.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

Employee benefits

Short term employee benefits, including holiday pay and other similar non monetary benefits are recognised as an expense in the period in which they occur.

Leased assets

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of income and retained earnings so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Dividends

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

Defined contribution pension plan

The Group operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under whoch the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further obligations.

The contributions are recognised as an expenses in the profit and loss account when the fall due.

4.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these key judgements and estimates have been made include depreciation.

5.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2026

2025

£

£

United Kingdom

10,422,323

9,036,445

10,422,323

9,036,445

6.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

2,640,494

2,266,281

Social security and pension costs

318,851

214,938

Other pension costs

97,215

88,163

3,065,560

2,569,382

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

2026

2025

C T Glass Limited

73

71

The company has no employees other than directors.

2026

2025

£

£

Directors remuneration

15,331

12,583

Group contributions to defined contribution pension scheme

18,000

18,000

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

Defined contribution pension schemes

2026

2025

1

1

2026

2025

£

£

Key management personnel costs

176,669

192,757

7.	OPERATING PROFIT

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

2026

2025

£

£

Hire of plant and machinery

57,204

51,694

Depreciation - owned assets

534,832

389,260

Profit on disposal of fixed assets

(553

)

-

Goodwill amortisation

83,114

83,114

Group audit fees

16,100

10,500

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

2026

2025

£

£

Deposit account interest

702

580

Other interest receivable

-

176

702

756