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REGISTERED NUMBER: 13574085 (England and Wales)

Jos Richardson & Son Limited

Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 31st March 2025

Jos Richardson & Son Limited (Registered number: 13574085)

Contents of the Consolidated Financial Statements

for the year ended 31st March 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Director | 6 |

Report of the Independent Auditors | 7 |

Consolidated Income Statement | 11 |

Consolidated Balance Sheet | 12 |

Company Balance Sheet | 13 |

Consolidated Statement of Changes in Equity | 14 |

Company Statement of Changes in Equity | 15 |

Consolidated Cash Flow Statement | 16 |

Notes to the Consolidated Cash Flow Statement | 17 |

Notes to the Consolidated Financial Statements | 18 |

Jos Richardson & Son Limited

Company Information

for the year ended 31st March 2025

| DIRECTOR: | J W Richardson

| SECRETARY: | K P Marshall

| REGISTERED OFFICE: | Suite 12

| Brackenholme Business Park

| Brackenholme

| Selby

| Y08 6EL

| REGISTERED NUMBER: | 13574085 (England and Wales)

| AUDITORS: | Smailes Goldie

| Chartered Accountants

| Statutory Auditor

| Regent's Court

| Princess Street

| Hull

| East Yorkshire

| HU2 8BA

Jos Richardson & Son Limited (Registered number: 13574085)

Group Strategic Report

for the year ended 31st March 2025

The director presents his strategic report of the company and the group for the year ended 31st March 2025.

REVIEW OF BUSINESS

The year ended 31st March 2025 was a very successful period for the company with over £8m invested into developing the sites. The majority of the investment relates to JRS Services, Goole where the 2 Drive Thru's were completed at the end of 2024, and the HGV lorry park extension was completed in March 2025. This extension provided a further 52 lorry parking spaces and a new welfare block solely for the use of HGV drivers. This project costing £3.1m was part funded by a grant received from National Highways. Construction of the New to Industry site at Eden Service Station in Malton, North Yorkshire was also completed in the year, officially opening to the customers on 3 April 2025.

The group's main activity continued to be the operation of forecourt and convenience stores in North, East and West Yorkshire.

Key performance indicators:

| 2025 |  | 2024 |  | Change |

Turnover |  | £83.1m |  | £88.4m |  | (6.02%) |

Gross Profit |  | £8.9m |  | £9.1m |  | (1.98%) |

Operating Profit |  | £5.9m |  | £5.6m |  | 4.58% |

Total Equity/Net Assets |  | £36.0m |  | £31.9m |  | 12.67% |

Turnover in the year fell by £5.3m from £88.4m to £83.1m mainly due to lower fuel prices, with fuel volumes remaining fairly consistent across most sites. Gross margins were maintained at a similar level to 2024, gross profit fell reflecting the lower sales .

Operating and administrative expenses continue to be closely monitored against budget. Whilst employee numbers remained static at 179, wage costs increased by 6.36% from £3.40m to £3.61m.

The increase in net assets of the group reflects over 95% of profits being retained within the group. Total net assets therefore increased to £36.0m from £31.9m in 2024.

PRINCIPAL RISKS AND UNCERTAINTIES

The director has detailed below a number of risk factors which he believes could cause the actual results to differ from expectations. However, other factors could affect performance and the risks below should not be considered a complete set of all potential risk and uncertainties.

Financial

The director monitors cash regularly and maintains sufficient reserves to meet all foreseeable operating costs. This, together with maintaining a reasonable level of cash reserves, allows the company to react quickly to new opportunities as they arise. Longer term projects and acquisitions are matched to longer term funding where deemed necessary. The group had cash and cash equivalents of £9.847m (Company £0.15m) at the year end. The group has two bank loans amounting to £2.4m. The director does not believe that the group is at risk of being unable to meet loan repayments even in the event of further increases in interest rates.

Operational/Regulatory

The Director places great importance on the health and safety of its employees, customers and the wider community. Awareness of the risk associated with storage and handling of petroleum products has a high profile within the group as well as those related to the sale of age-related products. Food safety standards are another area of key focus for the management team.

Jos Richardson & Son Limited (Registered number: 13574085)

Group Strategic Report

for the year ended 31st March 2025

PROMOTING THE SUCCESS OF THE GROUP

In accordance with section 172 of the Companies Act 2006 the director acts in a way that he considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole.

The Director is aware of how important building and maintaining successful relationships with stakeholders are to the business; be it employees, customers, suppliers and the wider community.

In making decisions, the Director takes account not only of the short-term requirements of the business but also of the longer-term impact on these stakeholders.

Employees - the company views pay and benefits as just one element of the needs of staff and is highly aware of this industry's need to look after the security and welfare of its staff. Training and development are considered where support is required, or career paths identify promotional opportunities. After one years service all employees benefit from an annual loyalty bonus given in the form of vouchers in December.

Customers- Engagement with our customers is essential. This is achieved though feedback, social media activity and promotional information. Providing our customers with the products and services they require at the right time is imperative to building and maintaining our relationship.

Suppliers - Maintaining good relationships with suppliers over the longer term contributes to the success of the business and the promotion of brand loyalty. Allowing local businesses the opportunity to be represented on site also benefits our customers, suppliers and the wider community.

Jos Richardson & Son Limited (Registered number: 13574085)

Group Strategic Report

for the year ended 31st March 2025

ENERGY AND CARBON REPORT

The Director has considered the recommendations of The Companies (Directors report) and Limited Liability Partnerships (Energy and Carbon reporting) regulations 2018 which implement the government's policy on Streamlined energy and Carbon reporting (SECR) when preparing this report.

The group operates service stations and convenience stores wholly in the United Kingdom. Each site has its own designated electricity supply and meter.

Energy consumption |  | KWH |

Aggregate of energy consumption in the year |  | 1,715,011 |

Emissions of CO2 |  |

Equivalent |  | Metric tonnes |

Scope 1 - direct emissions |  |

- Gas combustion |  | 0.79 |

- Fuel consumed for owned transport |  | 7.16 |

| 7.95 |

Scope 2 - indirect emissions |  |

- Electricity purchased |  | 332.41 |

Total Emissions |  | 340.36 |

Quantification and reporting methodology

The group has followed the 2019 HM Government Environmental Reporting Guidelines. The group has also used the GHG Reporting Protocol - Corporate Standard and have used the 2024 UK Government's Conversion Factors for Company Reporting.

Total electric and gas usage has been determined from supplier invoices and adjustment made where periods were not coterminous with the reporting period.

The total kilowatt hour (kWh) has been multiplied by 0.20705kg (Electric) and 0.1829kg (Gas) of CO2 to derive the total CO2e emissions for the group as a whole.

The fuel for transport usage has been derived from litres purchased and business miles reimbursed based on average mileage. The total volume has been multiplied by 2.51279 for Diesel and 2.0844 for Petrol to derive the total CO2e emissions for the group as a whole.

The multipliers have been extracted from the UK Government GHG Conversion Factors for Company Reporting 2024.

Jos Richardson & Son Limited (Registered number: 13574085)

Group Strategic Report

for the year ended 31st March 2025

MEASURES TAKEN TO IMPROVE ENERGY EFFICIENCY

The director is committed to reducing the group's impact on the environment. The company is utilising electric monitoring systems to evaluate the specific energy usage of equipment and using this information to identify where efficiencies can be made within the operations and aid the decision-making process.

As sites follow the ongoing cycle of refurbishment, older equipment is replaced with energy efficient LED lights, refrigeration and air conditioning units. Solar panels have been fitted onto both the shop building and forecourt canopy at the new site at Malton.

The director continues to review options available in respect of electric vehicle charging points. Whilst appreciating this will not reduce the group's CO2 emission levels it is supporting the governments decarbonisation strategy. The installation of EV charging points are currently being investigated at several sites within the group.

ON BEHALF OF THE BOARD:

J W Richardson - Director

30th September 2025

Jos Richardson & Son Limited (Registered number: 13574085)

Report of the Director

for the year ended 31st March 2025

The director presents his report with the financial statements of the company and the group for the year ended 31st March 2025.

DIVIDENDS

Ordinary dividends were paid amounting to £176,774 (2024: £179,452). The director does not recommend payment of a further dividend.

A post year end dividend of £885,000 was paid on the 10th April 2025.

DIRECTOR

J W Richardson held office during the whole of the period from 1st April 2024 to the date of this report.

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, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J W Richardson - Director

30th September 2025

Report of the Independent Auditors to the Members of

Jos Richardson & Son Limited

Opinion

We have audited the financial statements of Jos Richardson & Son Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, 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 affairs as at 31st March 2025 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 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 director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

- | the information given in the 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.

Report of the Independent Auditors to the Members of

Jos Richardson & Son Limited

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 its 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 six, 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.

Report of the Independent Auditors to the Members of

Jos Richardson & Son Limited

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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including United Kingdom Accounting Standards (FRS102), the Companies Act 2006 and tax legislation. We also considered those laws and regulations that may have a material indirect effect on the financial statements including data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- |  | performed analytical procedures to identify any unusual or unexpected relationships; |

- |  | tested journal entries to identify unusual transactions; |

- |  | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |

- |  | investigated the rationale behind significant or unusual transactions. |

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- |  | agreeing financial statement disclosures to underlying supporting documentation; |

- |  | reading the minutes of meetings of those charged with governance; |

- |  | enquiring of management as to actual and potential litigation and claims; and |

- |  | reviewing correspondence with relevant regulators and the company's legal advisors. |

Due to 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of

Jos Richardson & Son Limited

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 Fox FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

30th September 2025

Jos Richardson & Son Limited (Registered number: 13574085)

Consolidated Income Statement

for the year ended 31st March 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 83,089,656 |  | 88,411,620 |  |

Cost of sales | 74,154,128 |  | 79,292,274 |  |

GROSS PROFIT | 8,935,528 |  | 9,119,346 |  |

Administrative expenses | 4,028,365 |  | 3,914,435 |  |

4,907,163 |  | 5,204,911 |  |

Other operating income | 657,507 |  | 505,166 |  |

OPERATING PROFIT | 5 | 5,564,670 |  | 5,710,077 |  |

Interest receivable and similar income | 7 | 367,971 |  | 393,094 |  |

5,932,641 |  | 6,103,171 |  |

Interest payable and similar expenses | 8 | 199,166 |  | 184,134 |  |

PROFIT BEFORE TAXATION | 5,733,475 |  | 5,919,037 |  |

Tax on profit | 9 | 1,547,878 |  | 1,656,407 |  |

PROFIT FOR THE FINANCIAL YEAR | 4,185,597 |  | 4,262,630 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Consolidated Balance Sheet

31st March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | 2,970,432 |  | 3,429,913 |  |

Tangible assets | 13 | 22,220,666 |  | 16,077,945 |  |

Investments | 14 | - |  | - |  |

Investment property | 15 | 7,588,877 |  | 5,734,343 |  |

32,779,975 |  | 25,242,201 |  |

CURRENT ASSETS

Stocks | 16 | 1,249,440 |  | 1,311,770 |  |

Debtors | 17 | 3,243,682 |  | 1,375,584 |  |

Cash at bank and in hand | 9,847,794 |  | 14,096,429 |  |

14,340,916 |  | 16,783,783 |  |

CREDITORS

Amounts falling due within one year | 18 | 6,037,560 |  | 6,283,383 |  |

NET CURRENT ASSETS | 8,303,356 |  | 10,500,400 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 41,083,331 |  | 35,742,601 |  |

CREDITORS

Amounts falling due after more than one year | 19 | (3,601,651 | ) | (2,396,847 | ) |

PROVISIONS FOR LIABILITIES | 22 | (1,543,986 | ) | (1,416,883 | ) |

NET ASSETS | 35,937,694 |  | 31,928,871 |  |

CAPITAL AND RESERVES

Called up share capital | 23 | 4,422 |  | 4,422 |  |

Other reserves | 24 | - |  | 22,083,990 |  |

Retained earnings | 24 | 35,933,272 |  | 9,840,459 |  |

SHAREHOLDERS' FUNDS | 35,937,694 |  | 31,928,871 |  |

The financial statements were approved by the director and authorised for issue on 30th September 2025 and were signed by:

J W Richardson - Director

Jos Richardson & Son Limited (Registered number: 13574085)

Company Balance Sheet

31st March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 12 | - |  | - |  |

Tangible assets | 13 | - |  | - |  |

Investments | 14 | 24,841,004 |  | 24,841,004 |  |

Investment property | 15 | 6,398,874 |  | 5,375,749 |  |

31,239,878 |  | 30,216,753 |  |

CURRENT ASSETS

Debtors | 17 | 1,934,269 |  | 57,734 |  |

Cash at bank | 155,034 |  | 155,760 |  |

2,089,303 |  | 213,494 |  |

CREDITORS

Amounts falling due within one year | 18 | 4,969,000 |  | 2,158,655 |  |

NET CURRENT LIABILITIES | (2,879,697 | ) | (1,945,161 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 28,360,181 |  | 28,271,592 |  |

PROVISIONS FOR LIABILITIES | 22 | 41 |  | 41 |  |

NET ASSETS | 28,360,140 |  | 28,271,551 |  |

CAPITAL AND RESERVES

Called up share capital | 23 | 4,422 |  | 4,422 |  |

Other reserves | 24 | - |  | 22,083,990 |  |

Retained earnings | 24 | 28,355,718 |  | 6,183,139 |  |

SHAREHOLDERS' FUNDS | 28,360,140 |  | 28,271,551 |  |

Company's profit for the financial year | 265,363 |  | 605,310 |  |

The financial statements were approved by the director and authorised for issue on 30th September 2025 and were signed by:

J W Richardson - Director

Jos Richardson & Son Limited (Registered number: 13574085)

Consolidated Statement of Changes in Equity

for the year ended 31st March 2025

| Called up |

| share |  | Retained |  | Other |  | Total

| capital |  | earnings |  | reserves |  | equity

£ | £ | £ | £ |

Balance at 1st April 2023 | 4,422 |  | 5,757,281 |  | 22,083,990 |  | 27,845,693 |  |

Changes in equity

Dividends | - |  | (179,452 | ) | - |  | (179,452 | ) |

Total comprehensive income | - |  | 4,262,630 |  | - |  | 4,262,630 |  |

Balance at 31st March 2024 | 4,422 |  | 9,840,459 |  | 22,083,990 |  | 31,928,871 |  |

Changes in equity

Increase in share capital | 22,083,990 |  | - |  | - |  | 22,083,990 |  |

Reduction in share capital | (22,083,990 | ) | 22,083,990 |  | - |  | - |  |

Dividends | - |  | (176,774 | ) | - |  | (176,774 | ) |

Total comprehensive income | - |  | 4,185,597 |  | (22,083,990 | ) | (17,898,393 | ) |

Balance at 31st March 2025 | 4,422 |  | 35,933,272 |  | - |  | 35,937,694 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Company Statement of Changes in Equity

for the year ended 31st March 2025

| Called up |

| share |  | Retained |  | Other |  | Total

| capital |  | earnings |  | reserves |  | equity

£ | £ | £ | £ |

Balance at 1st April 2023 | 4,422 |  | 5,757,281 |  | 22,083,990 |  | 27,845,693 |  |

Changes in equity

Dividends | - |  | (179,452 | ) | - |  | (179,452 | ) |

Total comprehensive income | - |  | 605,310 |  | - |  | 605,310 |  |

Balance at 31st March 2024 | 4,422 |  | 6,183,139 |  | 22,083,990 |  | 28,271,551 |  |

Changes in equity

Increase in share capital | 22,083,990 |  | - |  | - |  | 22,083,990 |  |

Reduction in share capital | (22,083,990 | ) | 22,083,990 |  | - |  | - |  |

Dividends | - |  | (176,774 | ) | - |  | (176,774 | ) |

Total comprehensive income | - |  | 265,363 |  | (22,083,990 | ) | (21,818,627 | ) |

Balance at 31st March 2025 | 4,422 |  | 28,355,718 |  | - |  | 28,360,140 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Consolidated Cash Flow Statement

for the year ended 31st March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 6,993,259 |  | 6,519,661 |  |

Interest paid | (199,166 | ) | (184,134 | ) |

Tax paid | (2,362,275 | ) | (1,470,210 | ) |

Net cash from operating activities | 4,431,818 |  | 4,865,317 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (7,056,222 | ) | (476,238 | ) |

Purchase of investment property | (1,686,301 | ) | (1,372,011 | ) |

Sale of tangible fixed assets | 68,250 |  | 1,590 |  |

Sale of investment property | - |  | 63,791 |  |

Interest received | 367,971 |  | 393,094 |  |

Net cash from investing activities | (8,306,302 | ) | (1,389,774 | ) |

Cash flows from financing activities

Loan repayments in year | (197,969 | ) | (185,403 | ) |

Amount introduced by directors | 592 |  | - |  |

Equity dividends paid | (176,774 | ) | (179,452 | ) |

Net cash from financing activities | (374,151 | ) | (364,855 | ) |

(Decrease)/increase in cash and cash equivalents | (4,248,635 | ) | 3,110,688 |  |

Cash and cash equivalents at beginning of year | 2 | 14,096,429 |  | 10,985,741 |  |

Cash and cash equivalents at end of year | 2 | 9,847,794 |  | 14,096,429 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Cash Flow Statement

for the year ended 31st March 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 5,733,475 |  | 5,919,037 |  |

| Depreciation charges | 1,136,499 |  | 1,125,170 |  |

| Loss on disposal of fixed assets | - |  | 10,691 |  |

| Finance costs | 199,166 |  | 184,134 |  |

| Finance income | (367,971 | ) | (393,094 | ) |

6,701,169 |  | 6,845,938 |  |

| Decrease/(increase) in stocks | 62,330 |  | (12,118 | ) |

| Increase in trade and other debtors | (1,868,098 | ) | (42,337 | ) |

| Increase/(decrease) in trade and other creditors | 2,097,858 |  | (271,822 | ) |

| Cash generated from operations | 6,993,259 |  | 6,519,661 |  |

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 31st March 2025

| 31/3/25 |  | 1/4/24

£ | £ |

| Cash and cash equivalents | 9,847,794 |  | 14,096,429 |  |

| Year ended 31st March 2024

| 31/3/24 |  | 1/4/23

£ | £ |

| Cash and cash equivalents | 14,096,429 |  | 10,985,741 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/4/24 | Cash flow | At 31/3/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 14,096,429 |  | (4,248,635 | ) | 9,847,794 |  |

14,096,429 |  | (4,248,635 | ) | 9,847,794 |  |

| Debt

| Debts falling due within 1 year | (200,000 | ) | - |  | (200,000 | ) |

| Debts falling due after 1 year | (2,396,847 | ) | 197,969 |  | (2,198,878 | ) |

(2,596,847 | ) | 197,969 |  | (2,398,878 | ) |

| Total | 11,499,582 |  | (4,050,666 | ) | 7,448,916 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements

for the year ended 31st March 2025

1. | STATUTORY INFORMATION

| Jos Richardson & Son 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. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value.

| The financial statements are prepared in sterling which is the functional currency of the company.

| The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

| - Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;

| - Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues: Interest

| income/expenses and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

| - Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share based payments, explanation of modifications to arrangements;

| - Section 33 'Related Party Disclosures': Compensation for key management personnel.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Basis of consolidation

| The consolidated group financial statements consist of the financial statements of the parent company Jos Richardson & Son Limited together with all entities controlled by the parent company (its subsidiaries).

| All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

| All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of impairment of the asset transferred.

| Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.

| In the parent company financial statements, the cost of a business combination is fair value at the acquisition date of assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of cost of a business combination over fair value of identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of a business combination includes an amount for contingent consideration where payment is probable and can be measured reliably, and is adjusted for changes in contingent consideration after initial recognition. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively where final fair values have been determined in subsequent periods following acquisition date. Investments in subsidiaries are accounted for at cost less impairment.

| Deferred tax is recognised on differences between value of assets (other than goodwill) and liabilities acquired in a business combination accounted for using purchase method and tax bases considered temporary differences at acquisition date considering manner in which carrying amount of asset or liability is expected to be recovered or settled. Deferred tax recognised is adjusted against goodwill or negative goodwill.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the group's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associate assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Critical judgements

| The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

| Business Combinations

| On 30 September 2021, the parent company acquired the entire share capital of the group of companies headed by JRS Services (Forecourts) Limited (formerly known as Areopagus Limited). and subsequently carried out a reorganisation of the combined group's operations. The director considers that the ongoing trade of those sites continue to generate economic benefit for the company and accordingly have recognised goodwill arising on the initial pre-hive business combination, which attaches to the cash-generating units for the respective sites.

| Tangible fixed assets acquired in the business combination have been introduced into the group at fair value, being the remaining economic useful life of the assets based on their initial cost. The assets have been introduced at gross values of historic cost and depreciation to date as transferred from the acquired group.

| Key sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Depreciation

| The depreciation policy has been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. The depreciation charged during the period was £664,940 which the director feels is a fair reflection of the benefits derived from the consumption of the tangible fixed assets in use during the period.

| Amortisation

| The amortisation policy has been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. It is not considered practical to use a per unit basis to allocate amortisation without undue cost and therefore amounts are charged annually. The amortisation charged during the period was £459,481 which the director feels is a fair reflection of the benefits derived from the consumption of the intangible fixed assets in use during the period.

| Investment property

| As required by FRS 102, properties which qualify as investment properties are revalued to fair value at each period end. The director has made use of external specialists to obtain market valuations for its properties to ensure values are suitable, however there remains inherent uncertainty. However, on balance the director does not consider this to give rise to a material risk as at the year end.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Goodwill

| Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

| For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis o the carrying amount of each asset in the unit.

| Intangible assets

| Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

| Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Patents & licenses - 3 years

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over useful lives on the following bases:

| - Freehold Buildings |  | - 4% Straight Line |  |

| - Leasehold land and buildings |  | - Over the life of the lease |  |

| - Plant and machinery |  | - 15-50% straight line, 20% reducing balance |  |

| - Fixtures, fittings and equipment |  | - 20-50% straight line, 20% reducing balance |  |

| - Motor vehicles |  | - 20-25% reducing balance |  |

| Freehold land is not depreciated.

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| Impairment of fixed assets

| At each reporting end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

| Government grants

| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant condition will be met and the grant will be received.

| A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

| Investment property

| Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

| Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

| Financial instruments

| The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS102 to all of its financial instruments.

| Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, and the 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.

| 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.

| Hire purchase and leasing commitments

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

| Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

| Pension costs and other post-retirement benefits

| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| The group operates defined contribution pension schemes. Contributions payable to the group's pension schemes are charged to profit or loss in the period to which they relate.

| Going concern

| At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. | TURNOVER

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

| An analysis of turnover by class of business is given below:

| 2025 |  | 2024

£ | £ |

| Fuel | 63,911,348 |  | 69,043,433 |  |

| Convenience | 19,178,308 |  | 19,368,187 |  |

83,089,656 |  | 88,411,620 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 3,180,115 |  | 2,989,333 |  |

| Social security costs | 226,034 |  | 202,663 |  |

| Other pension costs | 205,042 |  | 206,278 |  |

3,611,191 |  | 3,398,274 |  |

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

| 2025 |  | 2024

| Director | 1 |  | 1 |  |

| Sales and distribution | 166 |  | 167 |  |

| Office and management | 12 |  | 11 |  |

179 |  | 179 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | 31,164 |  | 14,967 |  |

| Director's pension contributions to money purchase schemes | 60,000 |  | 60,000 |  |

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

| Money purchase schemes | 1 |  | 1 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Other operating leases | 268,304 |  | 220,191 |  |

| Depreciation - owned assets | 664,940 |  | 666,177 |  |

| Loss on disposal of fixed assets | - |  | 10,691 |  |

| Goodwill amortisation | 456,989 |  | 456,989 |  |

| Patents and licences amortisation | 2,492 |  | 2,004 |  |

6. | AUDITORS' REMUNERATION

| Fees payable to the company's auditor and associates: |  | 2025 |  | 2024 |

| For audit services |  |

| Audit of the financial statements of the group and company |  | 3,000 |  | 2,510 |

| Audit of the financial statements of the company's subsidiaries |  | 30,450 |  | 22,580 |

|  | 33,450 |  | 25,090 |

| For other services |  | 7,550 |  | 12,860 |

7. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 2025 |  | 2024

£ | £ |

| Deposit account interest | 367,971 |  | 393,094 |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 199,166 |  | 184,134 |  |

9. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 1,420,775 |  | 1,675,060 |  |

| Deferred tax | 127,103 |  | (18,653 | ) |

| Tax on profit | 1,547,878 |  | 1,656,407 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

9. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 5,733,475 |  | 5,919,037 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 1,433,369 |  | 1,479,759 |  |

| Effects of:

| Expenses not deductible for tax purposes | 1,055 |  | 7,458 |  |

| Capital allowances in excess of depreciation | (128,107 | ) | (10,157 | ) |

| Adjustments to tax charge in respect of previous periods | (221 | ) | (2,069 | ) |

| Depreciation on assets not qualifying for capital allowances | 127,554 |  | 63,175 |  |

| Amortisation on assets not qualifying for capital allowances | 114,228 |  | 114,749 |  |

| Gains/(losses) on revaluation movements | - |  | 3,492 |  |

| Total tax charge | 1,547,878 |  | 1,656,407 |  |

10. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

11. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary A shares shares of 1 each

| Interim | 76,774 |  | 63,452 |  |

| Ordinary D shares shares of 1 each

| Interim | 100,000 |  | 116,000 |  |

176,774 |  | 179,452 |  |

| A post year end dividend of £885,000 was paid on the 10th April 2025.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

12. | INTANGIBLE FIXED ASSETS

| Group

| Patents |

| and |

| Goodwill |  | licences |  | Totals

£ | £ | £ |

| COST

| At 1st April 2024

| and 31st March 2025 | 4,569,894 |  | 6,000 |  | 4,575,894 |  |

| AMORTISATION

| At 1st April 2024 | 1,142,473 |  | 3,508 |  | 1,145,981 |  |

| Amortisation for year | 456,989 |  | 2,492 |  | 459,481 |  |

| At 31st March 2025 | 1,599,462 |  | 6,000 |  | 1,605,462 |  |

| NET BOOK VALUE

| At 31st March 2025 | 2,970,432 |  | - |  | 2,970,432 |  |

| At 31st March 2024 | 3,427,421 |  | 2,492 |  | 3,429,913 |  |

| The company has no intangible fixed assets at 31st March 2025 or 31 March 2024.

13. | TANGIBLE FIXED ASSETS

| Group

| Freehold |  | Short |  | Plant and

| property |  | leasehold |  | machinery

£ | £ | £ |

| COST

| At 1st April 2024 | 18,838,296 |  | 153,597 |  | 1,951,312 |  |

| Additions | 6,697,536 |  | - |  | 340,936 |  |

| Disposals | - |  | (68,250 | ) | (5,609 | ) |

| Reclassification/transfer | (168,233 | ) | - |  | - |  |

| At 31st March 2025 | 25,367,599 |  | 85,347 |  | 2,286,639 |  |

| DEPRECIATION

| At 1st April 2024 | 3,536,042 |  | 51,482 |  | 1,490,863 |  |

| Charge for year | 428,323 |  | 12,247 |  | 156,003 |  |

| Eliminated on disposal | - |  | - |  | (1,496 | ) |

| At 31st March 2025 | 3,964,365 |  | 63,729 |  | 1,645,370 |  |

| NET BOOK VALUE

| At 31st March 2025 | 21,403,234 |  | 21,618 |  | 641,269 |  |

| At 31st March 2024 | 15,302,254 |  | 102,115 |  | 460,449 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

13. | TANGIBLE FIXED ASSETS - continued

| Group

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1st April 2024 | 490,189 |  | 55,711 |  | 21,489,105 |  |

| Additions | 17,750 |  | - |  | 7,056,222 |  |

| Disposals | (7,965 | ) | - |  | (81,824 | ) |

| Reclassification/transfer | - |  | - |  | (168,233 | ) |

| At 31st March 2025 | 499,974 |  | 55,711 |  | 28,295,270 |  |

| DEPRECIATION

| At 1st April 2024 | 309,221 |  | 23,552 |  | 5,411,160 |  |

| Charge for year | 61,155 |  | 7,212 |  | 664,940 |  |

| Eliminated on disposal | - |  | - |  | (1,496 | ) |

| At 31st March 2025 | 370,376 |  | 30,764 |  | 6,074,604 |  |

| NET BOOK VALUE

| At 31st March 2025 | 129,598 |  | 24,947 |  | 22,220,666 |  |

| At 31st March 2024 | 180,968 |  | 32,159 |  | 16,077,945 |  |

| The company has no intangible fixed assets at 31st March 2025 or 31 March 2024.

14. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertakings

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 25,069,499 |  |

| PROVISIONS

| At 1st April 2024

| and 31st March 2025 | 228,495 |  |

| NET BOOK VALUE

| At 31st March 2025 | 24,841,004 |  |

| At 31st March 2024 | 24,841,004 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

14. | FIXED ASSET INVESTMENTS - continued

| The group and the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Name of undertaking |  | Class of shares held |  | % held direct |  |

| JRS Services (Convenience) Limited |  | ordinary |  | 100 |  |

| JRS Services (Forecourts) Limited |  | ordinary |  | 100 |  |

| JRS Services (Goole) Limited |  | ordinary |  | 100 |  |

| JRS Services (Leeds) Limited |  | ordinary |  | 100 |  |

| JRS Services (C-Stores) Limited |  | ordinary |  | 100 |  |

| All subsidiaries are registered in England and Wales and their registered office is Brackenholme Business Park, Brackenholme, Selby YO8 6EL.

15. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| At 1st April 2024 | 5,734,343 |  |

| Additions | 1,686,301 |  |

| Reclassification/transfer | 168,233 |  |

| At 31st March 2025 | 7,588,877 |  |

| NET BOOK VALUE

| At 31st March 2025 | 7,588,877 |  |

| At 31st March 2024 | 5,734,343 |  |

| The fair value of investment property acquired as part of a business combination resulting from the acquisition of the entire capital of the group of companies headed by JRS services (Forecourts) Limited in 2021 has been arrived at on the basis of valuations carried out by the director in 2012 or in August 2015 by external specialists who are not connected with the company. Subsequent acquisitions are recognised at cost.

| The director is of the opinion that the market value of investment property has not materially changed since the valuations or, in the case of subsequent additions, initial cost.

| Company

| Total

£ |

| FAIR VALUE

| At 1st April 2024 | 5,375,749 |  |

| Additions | 1,023,125 |  |

| At 31st March 2025 | 6,398,874 |  |

| NET BOOK VALUE

| At 31st March 2025 | 6,398,874 |  |

| At 31st March 2024 | 5,375,749 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

15. | INVESTMENT PROPERTY - continued

| Company

| The fair value of investment property transferred to the company from subsidiaries as part of the group reconstruction in 2021 has been arrived at on the basis of valuations carried out by the director in 2012 or in August 2015 by external specialists who are not connected with the company. Subsequent acquisitions are recognised at cost.

| The director is of the opinion that the market value of investment property has not materially changed since the valuations or, in the case of subsequent additions, initial cost.

16. | STOCKS

| Group |

2025 | 2024 |

£ | £ |

| Finished goods - fuel | 583,134 |  | 678,079 |  |

| Finished goods - Stock | 666,306 |  | 633,691 |  |

1,249,440 |  | 1,311,770 |  |

17. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Trade debtors | 1,119,245 |  | 1,050,097 |  | 46,957 |  | 13,275 |  |

| Amounts owed by group undertakings | - |  | - |  | 60,578 |  | - |  |

| Other debtors | 21,288 |  | 24,088 |  | - |  | - |  |

| Directors' current accounts | 1,800,000 |  | - |  | 1,800,000 |  | - |  |

| Prepayments and accrued income | 303,149 |  | 301,399 |  | 26,734 |  | 44,459 |  |

3,243,682 |  | 1,375,584 |  | 1,934,269 |  | 57,734 |  |

18. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 20) | 200,000 |  | 200,000 |  | - |  | - |  |

| Trade creditors | 4,259,416 |  | 3,921,374 |  | 8,192 |  | - |  |

| Amounts owed to group undertakings | - |  | - |  | 4,703,538 |  | 1,870,565 |  |

| Tax | 84,764 |  | 1,026,264 |  | 40,434 |  | 85,338 |  |

| Social security and other taxes | 159,327 |  | 45,902 |  | - |  | - |  |

| VAT | 82,275 |  | 397,594 |  | 19,085 |  | 20,952 |  |

| Other creditors | 110,016 |  | 92,903 |  | 75,000 |  | 75,000 |  |

| Directors' loan accounts | 592 |  | - |  | - |  | - |  |

| Accrued expenses | 1,141,170 |  | 599,346 |  | 122,751 |  | 106,800 |  |

6,037,560 |  | 6,283,383 |  | 4,969,000 |  | 2,158,655 |  |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

19. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |

2025 | 2024 |

£ | £ |

| Bank loans (see note 20) | 2,198,878 |  | 2,396,847 |  |

| Accruals and deferred income | 1,402,773 |  | - |  |

3,601,651 |  | 2,396,847 |  |

20. | LOANS

| An analysis of the maturity of loans is given below:

| Group |

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or | on demand: |

| Bank loans | 200,000 |  | 200,000 |  |

| Amounts falling due between one and | two years: |

| Bank loans - 1-2 years | 200,000 |  | 200,000 |  |

| Amounts falling due between two and | five years: |

| Bank loans - 2-5 years | 1,998,878 |  | 2,196,847 |  |

21. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 258,204 |  | 170,556 |  |

| Between one and five years | 853,744 |  | 572,731 |  |

| In more than five years | 1,823,000 |  | 279,000 |  |

2,934,948 |  | 1,022,287 |  |

| The investment property is divided into retail units which are let out to tenants under operating leases. At the year end the committed lease receipts due under non-cancellable leases are as follows:

|  | 2025 |  |  | 2024 |

| Falling due: |  | £ |  |  | £ |

| Within one year |  | 205,000 |  |  | 205,000 |

| Between one and five years |  | 820,000 |  |  | 820,000 |

| Over five years |  | 1,845,000 |  |  | 2,050,000 |

|  | 2,870,000 |  |  | 3,075,000 |

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

22. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

£ | £ | £ | £ |

| Deferred tax | 1,543,986 |  | 1,416,883 |  | 41 |  | 41 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1st April 2024 | 1,416,883 |  |

| Charge to Income Statement during year | 127,103 |  |

| Balance at 31st March 2025 | 1,543,986 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1st April 2024 | 41 |  |

| Balance at 31st March 2025 | 41 |  |

23. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 3,347 | Ordinary A shares | 1 | 3,347 |  | 2,904 |  |

| 1,075 | Ordinary D shares | 1 | 1,075 |  | 1,518 |  |

4,422 |  | 4,422 |  |

| The ordinary A shares have full rights with respect to voting, dividends and distributions whereas the ordinary D shares have no voting rights attached to them.

| On 3rd September 2024, the company issued 22,083,990 £1 bonus shares at par utilising the full amount of the merger reserve.

| On 3rd September 2024, the company completed a capital reduction which cleared the amount within the merger reserve and the additional share capital introduced.

| On 11th September 2024, the company redesignated 443 D Ordinary shares to A Ordinary shares.

Jos Richardson & Son Limited (Registered number: 13574085)

Notes to the Consolidated Financial Statements - continued

for the year ended 31st March 2025

24. | RESERVES

| Group

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1st April 2024 | 9,840,459 |  | 22,083,990 |  | 31,924,449 |  |

| Profit for the year | 4,185,597 |  | 4,185,597 |  |

| Dividends | (176,774 | ) | (176,774 | ) |

| Bonus share issue | - |  | (22,083,990 | ) | (22,083,990 | ) |

| Reduction in share capital | 22,083,990 |  | - |  | 22,083,990 |  |

| At 31st March 2025 | 35,933,272 |  | - |  | 35,933,272 |  |

| Company

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1st April 2024 | 6,183,139 |  | 22,083,990 |  | 28,267,129 |  |

| Profit for the year | 265,363 |  | 265,363 |  |

| Dividends | (176,774 | ) | (176,774 | ) |

| Bonus share issue | - |  | (22,083,990 | ) | (22,083,990 | ) |

| Reduction in share capital | 22,083,990 |  | - |  | 22,083,990 |  |

| At 31st March 2025 | 28,355,718 |  | - |  | 28,355,718 |  |

25. | RELATED PARTY DISCLOSURES

| Entities under common control

2025 | 2024 |

£ | £ |

| Wages recharges income | 111,960 |  | 94,909 |  |

| Rental income | 9,000 |  | 9,000 |  |

| Management charges raised | 9,000 |  | 9,000 |  |

| Rental expense | 70,000 |  | 39,000 |  |

| Amount due to related party | 75,000 |  | 75,000 |  |

| Key management personnel of the entity or its parent (in the aggregate)

2025 | 2024 |

£ | £ |

| Amount due from related party | 1,800,000 |  | - |  |

| At the balance sheet date £1,800,000 was owed from Mr J W Richardson, which has been repaid in full at the date of signing.

26. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling part of the company is Mr J W Richardson.