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Registered number: 01770442 BOLTON PLASTIC COMPONENTS LIMITED Annual report and financial statements For the year ended 31 December 2025
BOLTON PLASTIC COMPONENTS LIMITED Company Information
Directors | S Cropper
| J Hughes
| J Middlehurst (resigned 31 January 2025)
| S Young
| K Drazdzewska
| D Greenhalgh (appointed 23 April 2025)
Company secretary | M M Secretariat Limited
Registered number | 01770442
Registered office | Environment House
| 1 St Marks Street
| Nottingham
| NG3 1DE
Independent auditors | PKF Smith Cooper Audit Limited
| Statutory Auditors
| 2 Lace Market Square
| Nottingham
| NG1 1PB
BOLTON PLASTIC COMPONENTS LIMITED Contents
| Page
Strategic report | 1 - 2
Directors' report | 3 - 4
Independent auditors' report | 5 - 8
Statement of comprehensive income | 9
Balance sheet | 10
Statement of changes in equity | 11
Notes to the financial statements | 12 - 25
BOLTON PLASTIC COMPONENTS LIMITED Strategic report For the year ended 31 December 2025
Introduction
The principal activity of the Company continues to be the manufacture of plastic blow moulded components predominantly for the automotive, medical and construction industries. The Company’s business strategy is to work in partnership with our major customers to ensure we continue to offer high level components, technical support, and manufacturing facilities in line with the needs of the industry and to ensure that our manufacturing processes remain aligned with the market we serve.
Business review
Our automotive components are supplied directly to Original Equipment Manufacturers (OEMs) and major system suppliers at both Tier 1 and Tier 2 levels. The year to 31 December 2025 remained challenging, as supply chains continued to stabilise and demand patterns normalised. The six months to June 2025 represented a strong start to the year. However, in the latter part of the year, our largest customer experienced a significant cyber-attack in late August, which had a direct impact on production schedules and order volumes in the latter half 2025. As a result, we were required to react quickly to reduced demand levels, leading to a temporary decline in sales. While broader supply chain challenges have continued to ease, the impact of this disruption is expected to result in a steady first quarter, with production and volumes anticipated to recover and accelerate through the remainder of 2026. Despite these headwinds, global demand for our largest customer’s vehicles has remained resilient. Looking ahead to 2026, customers continue to request that suppliers prepare for increased volumes, particularly on higher-value models. The Company remains committed to minimising its environmental impact and is actively pursuing initiatives to reduce carbon consumption, including energy reduction projects and the implementation of energy tracking systems. In addition, the business is investing in the upgrade of its Enterprise Resource Planning (ERP) system to strengthen production planning, improve stock control and enhance management reporting, ensuring greater efficiency and responsiveness to customer needs.
Principal risks and uncertainties
The challenges we face as we move through the coming year will primarily centre on the pace of UK economic recovery and the return of consumer confidence in purchasing new vehicles. Our largest customer remains optimistic regarding vehicle sales in the year ahead; however, this outlook is tempered by an increasingly uncertain global economic and geopolitical environment. Key risks include ongoing geopolitical tensions, particularly the conflicts in Ukraine and the Middle East, which continue to create volatility across global supply chains, energy markets, and raw material availability. In addition, the introduction and potential escalation of tariffs under the Trump administration present a further risk to global trade flows, with the potential to impact both direct and indirect cost structures across the automotive supply chain. Other risks include fluctuations in energy and logistics costs. While both remain elevated compared to pre-crisis levels, energy prices are expected to gradually ease as markets stabilise and the UK continues its transition towards renewable energy sources. Polymer pricing also remains volatile, influenced by wider economic conditions and closely linked to global oil prices, which directly affect the Company’s cost base. Within the automotive sector, the transition towards electric vehicle (EV) programmes continues to introduce uncertainty into demand forecasting and production planning, as OEMs refine model strategies and supply chains adapt to evolving technologies. The Company continues to monitor these developments closely and remains focused on maintaining operational flexibility in response to changing market conditions. Despite these challenges, the Company operates within a niche product range and has been reasonably successful in passing through cost variances to customers. A similar level of success is anticipated in the coming year. Page 1
BOLTON PLASTIC COMPONENTS LIMITED Strategic report (continued) For the year ended 31 December 2025
Financial key performance indicators
The company uses several key performance indicators to track business performance, which can be referenced in full within the attached financial statements. The main KPI drivers will show that turnover including tooling for the year was £9.8m (down 21% on prior year), however gross profit for the year, following the successful implementation of a variety of efficiency programmes, improved to 21% (prior year 14%). The corresponding profit before tax was stable at £186k. The Company experienced a reduction in turnover during 2025; however, through the successful delivery of several efficiency programmes, it was able to offset rising costs and workflow instability, achieving a positive profit before tax for the year. The Company continues to maintain a strong balance sheet, with a year-end capital and reserves value of £4m. This report was approved by the board and signed on its behalf.
S Cropper Director
Date: 3 July 2026
Page 2
BOLTON PLASTIC COMPONENTS 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.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and 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.
Principal activity
The principal activity of the Company is detailed in the Strategic Report.
Results and dividends
The profit for the year, after taxation, amounted to £616,513 (2024 - £87,890).
Directors
The directors who served during the year were:
S Cropper
J Hughes
J Middlehurst (resigned 31 January 2025)
S Young
K Drazdzewska
D Greenhalgh (appointed 23 April 2025)
Qualifying third-party indemnity provisions
The Company maintains liability insurance for directors and officers as permitted by section 234 of the Companies Act 2006. Page 3
BOLTON PLASTIC COMPONENTS LIMITED Directors' report (continued) For the year ended 31 December 2025
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
The auditors, PKF Smith Cooper Audit 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.
S Cropper Director
Date: 3 July 2026
Page 4
BOLTON PLASTIC COMPONENTS LIMITED Independent auditors' report to the members of Bolton Plastic Components Limited
Opinion
We have audited the financial statements of Bolton Plastic Components Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Balance sheet, 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 our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 December 2025 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The 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. Page 5
BOLTON PLASTIC COMPONENTS LIMITED Independent auditors' report to the members of Bolton Plastic Components Limited (continued)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the 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.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 6
BOLTON PLASTIC COMPONENTS LIMITED Independent auditors' report to the members of Bolton Plastic Components Limited (continued)
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 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: Based on our understanding of the company and industry, we identify the key laws and regulations affecting the company. We identified that the principal risk of fraud or non-compliance with laws and regulations related to: • management bias in respect of accounting estimates and judgements made; • management override of control; • posting of unusual journals or transactions. We focussed on those areas that could give rise to a material misstatement in the Company's financial statements. Our procedures included, but were not limited to: • enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud; • reviewing legal expenditure in the year to identtify instances of non-compliance with laws and regulations and fraud; • reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable 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 business rationale for significant transactions outside the normal course of business and reviewing accounting estimates for bias. It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. 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 Auditors' report. Page 7
BOLTON PLASTIC COMPONENTS LIMITED Independent auditors' report to the members of Bolton Plastic Components Limited (continued)
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 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. James Bagley (Senior statutory auditor) for and on behalf of PKF Smith Cooper Audit Limited Statutory Auditors 2 Lace Market Square Nottingham NG1 1PB 6 July 2026 Page 8
BOLTON PLASTIC COMPONENTS LIMITED Statement of comprehensive income For the year ended 31 December 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 9,791,500 | 12,455,835
Cost of sales |  | (7,701,347) | (10,652,623)
Gross profit |  | 2,090,153 | 1,803,212
Distribution costs |  | (390,795) | (508,385)
Administrative expenses |  | (1,615,243) | (1,133,236)
Other operating income | 5 | 105,001 | 128,928
Operating profit | 6 | 189,116 | 290,519
Interest payable and similar expenses |  | (2,606) | (102,336)
Profit before tax |  | 186,510 | 188,183
Tax on profit | 10 | 430,003 | (100,293)
Profit for the financial year |  | 616,513 | 87,890
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
The notes on pages 12 to 25 form part of these financial statements.
Page 9
BOLTON PLASTIC COMPONENTS LIMITED Registered number: 01770442 Balance sheet As at 31 December 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 11 |  | 2,182,662 |  | 2,169,763
|  |  | 2,182,662 |  | 2,169,763
Current assets |  |  |  |  |
Stocks | 12 | 1,546,018 |  | 1,306,360 |
Debtors: amounts falling due within one year | 13 | 3,314,416 |  | 3,035,882 |
Cash at bank and in hand | 14 | 42,357 |  | 14,698 |
|  | 4,902,791 |  | 4,356,940 |
Creditors: amounts falling due within one year | 15 | (2,466,193) |  | (2,568,135) |
Net current assets |  |  | 2,436,598 |  | 1,788,805
Total assets less current liabilities |  |  | 4,619,260 |  | 3,958,568
Provisions for liabilities |  |  |  |  |
Deferred tax | 16 |  | (144,472) |  | (100,293)
Net assets |  |  | 4,474,788 |  | 3,858,275
Capital and reserves |  |  |  |  |
Called up share capital | 17 |  | 500,000 |  | 500,000
Revaluation reserve | 18 |  | 1,009,171 |  | 1,009,171
Other reserves | 18 |  | 23,735 |  | 23,735
Profit and loss account | 18 |  | 2,941,882 |  | 2,325,369
|  |  | 4,474,788 |  | 3,858,275
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
S Cropper
Director
Date: 3 July 2026
The notes on pages 12 to 25 form part of these financial statements. Page 10
BOLTON PLASTIC COMPONENTS LIMITED Statement of changes in equity For the year ended 31 December 2025
| Called up share capital | Revaluation reserve | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 January 2024 | 500,000 | 1,009,171 | 23,735 | 2,237,479 | 3,770,385
Profit for the year | - | - | - | 87,890 | 87,890
At 1 January 2025 | 500,000 | 1,009,171 | 23,735 | 2,325,369 | 3,858,275
Profit for the year | - | - | - | 616,513 | 616,513
At 31 December 2025 | 500,000 | 1,009,171 | 23,735 | 2,941,882 | 4,474,788
| The notes on pages 12 to 25 form part of these financial statements.
Page 11
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
1. | General information
Bolton Plastic Components Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The registered office address is Environment House, 1 St Marks Street, Nottingham, NG3 1DE and the company registration number is 01770442. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 financial statements are prepared in sterling which is the functional currency of the Company and are rounded to the nearest £1. The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Blugilt Holdings Limited as at 31 December 2025 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ..
| 2.3 | Going concern
The directors consider that there are no material uncertainties that may cast significant doubt about the Company's ability to continue as a going concern. Accordingly the financial statements have been prepared on the going concern basis. On the basis of the cash position of the Company as at the date of approval of the financial statements, the forecasted cashflows and financial performance for the Company, the directors believe that the Company will have sufficient cash reserves and available facilities in order to meet its debts as and when they fall due for the foreseeable furutre and therefore the going concern basis of accounting has been applied to these financial statements. Page 12
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.4 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.5 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of plastic blow moulded components is recognised when the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of goods. Tooling and development The Company recognises tooling income and expenditure at the point of commissioning. Amounts recoverable on contracts, included within work in progress, comprises costs for an individual tool which has not been commissioned at the balance sheet date.
| 2.6 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 13
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical 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. Page 14
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
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. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 2.5% straight line
|  |  |  | Leasehold property | - | 2.5% straight line
|  |  |  | Plant and machinery | - | 10% to 25% straight line
|  |  |  | Motor vehicles | - | 25% straight line
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.
| 2.10 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.11 | Stocks
Stocks 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 and finished goods 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 is recognised immediately in profit or loss.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | 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 are readily convertible to known amounts of cash with insignificant risk of change in value. Page 15
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
Many of the amounts included in the financial statements involve the use of judgement and/or estimation. These judgements and estimates are based on management's best knowledge of the relevant factors and circumstances, having regard to prior experience, but actual results may differ from the amounts included in the financial statements. Information about such judgements and estimation is contained in the accounting policies and/or notes to the financial statements. The key areas are summarised below: Judgements in applying accounting policies ∙The directors must judge whether all of the conditions required have been met for revenues to be recognised in profit and loss for the financial year as set out in note 2.5. Sources of estimation uncertainty ∙Depreciation rates are based on estimates of the useful lives and residual values of the assets involved; ∙Bad debt provisions are based on the likely recovery of debtor balances; ∙Stock provisions are based on the likely future use of the product.
4. | Turnover
The whole of the turnover is attributable to the principal activity of the Company. Analysis of turnover by country of destination:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 7,460,792 | 9,811,871
| Rest of Europe | 2,330,708 | 2,643,964
|  | 9,791,500 | 12,455,835
5. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net rents receivable | 105,001 | 128,928
Page 16
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 177,912 | 185,790
| Exchange differences | (888) | 1,048
| Operating lease rentals - land and buildings | 337,000 | 300,750
| Defined contribution pension cost | 168,751 | 235,078
7. | Auditors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 27,125 | 23,250
8. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 4,224,719 | 5,345,924
| Social security costs | 462,492 | 480,974
| Cost of defined contribution scheme | 168,751 | 235,078
|  | 4,855,962 | 6,061,976
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Manufacturing and production | 121 | 159
|  | Sales and distribution | 9 | 11
|  | Administration and management | 22 | 23
|  |  | 152 | 193
Page 17
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
9. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 292,471 | 311,000
| Company contributions to defined contribution pension schemes | 26,511 | 21,193
|  | 318,982 | 332,193
| During the year retirement benefits were accruing to 4 directors (2024 - 4) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £110,569 (2024 - £80,392).
| The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £4,715 (2024 - £7,197).
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profit for the year | 29,993 | -
| Adjustments in respect of previous periods | (504,175) | -
| Total current tax | (474,182) | -
| Deferred tax |  |
| Origination and reversal of timing differences | 44,179 | 124,567
| Adjustments in respect of previous periods | - | (24,274)
| Total deferred tax | 44,179 | 100,293
| Taxation on (loss)/profit on ordinary activities | (430,003) | 100,293
Page 18
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025 10.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 186,510 | 188,183
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 46,628 | 47,046
| Effects of: |  |
| Expenses not deductible for tax purposes | - | 570
| Movement in deferred tax not recognised | 27,544 | -
| Adjustments to tax charge in respect of prior periods - deferred tax | - | (24,274)
| Group relief surrendered/(claimed) | (534,168) | 76,951
| Payment/(receipt) for group relief | 29,993 | -
| Total tax charge for the year | (430,003) | 100,293
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 19
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
11. | Tangible fixed assets
|  | Freehold property | Leasehold property | Plant and machinery | Motor vehicles | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2025 | 1,255,812 | 1,057,221 | 8,355,736 | 24,185 | 10,692,954
| Additions | - | - | 183,811 | 7,000 | 190,811
| Disposals | - | - | - | (10,090) | (10,090)
| At 31 December 2025 | 1,255,812 | 1,057,221 | 8,539,547 | 21,095 | 10,873,675
| Depreciation |  |  |  |  |
| At 1 January 2025 | 45,130 | 597,571 | 7,856,305 | 24,185 | 8,523,191
| Charge for the year on owned assets | 31,395 | 26,030 | 120,184 | 303 | 177,912
| Disposals | - | - | - | (10,090) | (10,090)
| At 31 December 2025 | 76,525 | 623,601 | 7,976,489 | 14,398 | 8,691,013
| Net book value |  |  |  |  |
| At 31 December 2025 | 1,179,287 | 433,620 | 563,058 | 6,697 | 2,182,662
| At 31 December 2024 | 1,210,682 | 459,650 | 499,431 | - | 2,169,763
| A valuation of freehold property was undertaken by S. Kershaw & Sons Chartered Surveyors on 21 August 2023 and reflects the value of the property as at 31 December 2022. The basis of the valuation was open market value for existing use basis.
The directors are not aware of any material changes in the fair value of the freehold property and therefore the valuation has not been updated.
| If the freehold property had not been included at valuation they would have been included under the historical cost convention as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cost | 506,836 | 506,836
| Accumulated depreciation | (313,823) | (301,152)
| Net book value | 193,013 | 205,684
Page 20
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
12. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 412,282 | 489,168
| Work in progress (goods to be sold) | 519,550 | 110,378
| Finished goods and goods for resale | 614,186 | 706,814
|  | 1,546,018 | 1,306,360
| Stocks are stated after provisions for impairment of £303,679 (2024: £303,679).
13. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,793,222 | 1,907,425
| Amounts owed by group undertakings | 182,625 | 211,976
| Amounts owed related parties | 324,351 | -
| Other debtors | 192,463 | 155,913
| Prepayments and accrued income | 821,755 | 760,568
|  | 3,314,416 | 3,035,882
14. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 42,357 | 14,698
Page 21
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
15. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 766,142 | 921,537
| Amounts owed to group undertakings | - | 54,309
| Amounts owed to related parties | 1,020,943 | 810,943
| Other taxation and social security | 391,047 | 472,819
| Other creditors | 98,105 | 132,801
| Accruals and deferred income | 189,956 | 175,726
|  | 2,466,193 | 2,568,135
| Secured creditors Barclays PLC hold a charge over the property at Unit 5, Level Street, Bolton, BL3 6NZ. There also exists a cross guarantee and debenture between Bolton Plastic Components Limited and Bettix Limited in favour of Barclays PLC. Bettix Limited hold a debenture over amounts owed to them by Bolton Plastic Components Limited.
16. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (100,293)
| Charged to profit or loss | (44,179)
| At end of year | (144,472)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixed asset timing differences | (144,472) | (134,161)
| Short term timing differences | - | 836
| Losses and other deductions | - | 33,032
|  | (144,472) | (100,293)
Page 22
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
17. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 500,000 (2024 - 500,000) Ordinary shares of £1.00 each | 500,000 | 500,000
18. | Reserves
Revaluation reserve The revaluation reserve represents the cumulative effect of revaluations of tangible fixed assets where a policy of revaluation has been adopted, net of excess depreciation over the original purchase cost. Other reserves Other reserves relate to a capital reserve. Profit and loss account The profit and loss account includes all current and prior year retained profits and losses, net of dividends paid.
19. | Capital commitments
| At 31 December 2025 the Company had capital commitments as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Contracted for but not provided in these financial statements | 156,020 | -
20. | Pension commitments
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 £168,751 (2024: £235,078). Contributions totalling £10,260 (2024: £nil) were payable to the fund at the balance sheet date. Page 23
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
21. | Commitments under operating leases
| At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 312,871 | 396,656
| Later than 1 year and not later than 5 years | 2,467 | 531,395
|  | 315,338 | 928,051
22. | Related party transactions
| The Company has taken advantage of the exemptions available under FRS 102 Section 33 from disclosing transactions with other members of the group, where all subsidiaries are wholly owned. The company has taken advantage of the exemption under FRS 102 Section 1.12 Reduced Disclosures For Subsidiaries from disclosing key management personnel compensation in total. Companies under common control During the year the Company paid rent of £255,000 (2024: £255,000) to Donlow Limited. An amount of £nil (2024: £63,750) was due to Donlow Limited at the balance sheet date. During the year the Company paid rent of £102,000 (2024: £102,000) to Melton Medes Senior Management Pension Scheme. During the year the Company paid management fees of £310,977 (2024: £211,298) to Purico Limited. A loan of £980,000 (2024: £770,000) was due to this related party at the balance sheet date. This loan is unsecured, interest free and is repayable on demand. During the year the Company incurred interest charges of £5,909 (2024: £66,963) from Donlow Fininvest Limited. An amount of £nil (2024: £10,380) was due to Donlow Fininvest Limited at the balance sheet date. The Company also charged interest of £5,851 (2024: £nil) to this related party. An amount of £852 (2024: £nil) was owed to the Company from this related party at the balance sheet date. During the year the Company recharged management fees of £1,001 (2024: £107,827) to Devon Valley Limited. During the year the Company wrote off debt of £15,845 (2024: £nil) due from Union Papertech Ltd. An amount of £283,408 is due from (2024: £40,943 due to) entities under common control in respect of tax losses sold by the Company. During the year the Company made donations of £nil (2024: £165,000) to The Puri Foundation.
Page 24
BOLTON PLASTIC COMPONENTS LIMITED Notes to the financial statements For the year ended 31 December 2025
23. | Controlling party
The Company is controlled by Blugilt Holdings Limited. The parent undertaking of the largest and smallest groups for which consolidated financial statements are prepared is Blugilt Holdings Limited. Consolidated financial statements are available from Companies House. The ultimate parent company is Clary Limited, a company incorporated in the Isle of Man. The ultimate controlling party is Mr N Puri.
Page 25