REGISTERED NUMBER: 00605551 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

PARKFOOT GARAGE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTORS:

D C Charman

M M Whitlock

N S Charman

SECRETARY:

S J Sutch

REGISTERED OFFICE:

263-265 London Road

West Malling

Kent

ME19 5AE

REGISTERED NUMBER:

00605551 (England and Wales)

SENIOR STATUTORY AUDITOR:

Stuart Rosling FCCA

AUDITORS:

Ashdown Hurrey Auditors Ltd

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS

The directors are pleased to report another successful year. Sales in all three departments - motor fuel, convenience store and car wash - were consistent the previous years.

2025

2024

2023

Turnover

13,641,187

13,896,597

13,157,703

GP

9%

9%

8%

A significant focus of the year has been the preparation for the long-anticipated refit of the main Parkfoot store at West Malling to meet the requirements of a rapidly evolving retail environment. Final plans were in place by the end of the year under review, and at the time of writing the refit is complete and the store is trading strongly.

The company's 50:50 joint venture - Aquatec Systems Ltd - has experienced strong car wash sales, while the retail side is making steady progress.

The company remains well placed at the end of the year under review.

PRINCIPAL RISKS AND OPPORTUNITIES

Fuel volumes - The transition away from internal combustion engine powered vehicles continues to present a medium to long term challenge to the motor fuel retail industry. The directors continue to consider, however, that the strength of the company's non-fuel retail offer provides a competitive advantage that will sustain the motor fuel business through the lengthy transition phase.

The company's butchery and fresh food operations have demonstrated significant opportunities for expansion.

FUTURE DEVELOPMENTS

The refit of the main Parkfoot store has been postponed to early 2025 to ensure that the plans met the requirements of a rapidly evolving retail environment.

ON BEHALF OF THE BOARD:

D C Charman - Director

8 October 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of operating a motor fuel service station with a convenience store.

DIVIDENDS

The total distribution of dividends for the year ended 31 January 2025 was £146,000 (2024: £186,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

D C Charman

M M Whitlock

N S Charman

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 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 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director 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 company's auditors are aware of that information.

AUDITORS

The auditors, Ashdown Hurrey Auditors Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D C Charman - Director

8 October 2025

Opinion

We have audited the financial statements of Parkfoot Garage Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 January 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 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

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, 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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.

During the planning stage of this audit we considered the likelihood of irregularities around laws and regulations relevant to the company, including enquiry of management and those charged with governance. These were also discussed during the audit planning meeting held by the team. We reviewed the company's systems and controls in place, and formed an assessment as to their operational effectiveness.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to:

- The financial reporting standard; FRS102

- Employment law

- Food safety

- Health and safety

- The Dangerous Substances and Explosive Atmospheres Regulations 2002

- Licensing Act 2003

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

During the course of this audit the team discussed this area with senior members of the company's staff, including directors, and also carried out a review of legal expenses for evidence of any issues.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

We are therefore of the opinion that given the risk level identified, our procedures planned and undertaken, are adequate for detecting irregularities.

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.

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.

Stuart Rosling FCCA (Senior Statutory Auditor)

for and on behalf of Ashdown Hurrey Auditors Ltd

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

9 October 2025

TURNOVER

13,641,187

13,896,597

Cost of sales

(12,401,158

)

(12,591,568

)

GROSS PROFIT

1,240,029

1,305,029

Administrative expenses

(689,862

)

(704,550

)

550,167

600,479

Other operating income

4,047

-

OPERATING PROFIT

4

554,214

600,479

Interest receivable and similar income

16,085

17,811

570,299

618,290

Interest payable and similar expenses

5

(167,047

)

(159,594

)

PROFIT BEFORE TAXATION

403,252

458,696

Tax on profit

6

(110,608

)

(121,647

)

PROFIT FOR THE FINANCIAL YEAR

292,644

337,049

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

292,644

337,049

FIXED ASSETS

Tangible assets

8

1,168,871

1,151,856

Investments

9

488

954,398

1,169,359

2,106,254

CURRENT ASSETS

Stocks

10

206,038

263,076

Debtors

11

1,673,780

192,845

Cash at bank and in hand

307,090

986,127

2,186,908

1,442,048

CREDITORS

Amounts falling due within one year

12

506,326

772,838

NET CURRENT ASSETS

1,680,582

669,210

TOTAL ASSETS LESS CURRENT LIABILITIES

2,849,941

2,775,464

CREDITORS

Amounts falling due after more than one year

13

(1,813,156

)

(1,897,354

)

PROVISIONS FOR LIABILITIES

16

(150,443

)

(138,412

)

NET ASSETS

886,342

739,698

CAPITAL AND RESERVES

Called up share capital

17

25,000

25,000

Capital redemption reserve

18

26,270

26,270

Retained earnings

18

835,072

688,428

SHAREHOLDERS' FUNDS

886,342

739,698

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

D C Charman - Director

M M Whitlock - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 February 2023

25,000

537,379

26,270

588,649

Changes in equity

Dividends

-

(186,000

)

-

(186,000

)

Total comprehensive income

-

337,049

-

337,049

Balance at 31 January 2024

25,000

688,428

26,270

739,698

Changes in equity

Dividends

-

(146,000

)

-

(146,000

)

Total comprehensive income

-

292,644

-

292,644

Balance at 31 January 2025

25,000

835,072

26,270

886,342

Cash flows from operating activities

Cash generated from operations

1

76,802

750,953

Interest paid

(167,047

)

(159,594

)

Tax paid

(148,876

)

(90,236

)

Net cash from operating activities

(239,121

)

501,123

Cash flows from investing activities

Purchase of tangible fixed assets

(179,176

)

(21,749

)

Loan to joint venture

(54,354

)

(485,430

)

Interest received

16,085

17,811

Net cash from investing activities

(217,445

)

(489,368

)

Cash flows from financing activities

Loan repayments in year

(76,471

)

(81,263

)

Equity dividends paid

(146,000

)

(186,000

)

Net cash from financing activities

(222,471

)

(267,263

)

Decrease in cash and cash equivalents

(679,037

)

(255,508

)

Cash and cash equivalents at beginning of year

2

986,127

1,241,635

Cash and cash equivalents at end of year

2

307,090

986,127

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

31.1.25

31.1.24

£

£

Profit before taxation

403,252

458,696

Depreciation charges

162,160

187,008

Finance costs

167,047

159,594

Finance income

(16,085

)

(17,811

)

716,374

787,487

Decrease/(increase) in stocks

57,038

(5,090

)

Increase in trade and other debtors

(472,670

)

(52,100

)

(Decrease)/increase in trade and other creditors

(223,940

)

20,656

Cash generated from operations

76,802

750,953

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 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

307,090

986,127

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

986,127

1,241,635

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.2.24

Cash flow

At 31.1.25

£

£

£

Net cash

Cash at bank and in hand

986,127

(679,037

)

307,090

986,127

(679,037

)

307,090

Debt

Debts falling due within 1 year

(83,276

)

(7,728

)

(91,004

)

Debts falling due after 1 year

(1,897,354

)

84,198

(1,813,156

)

(1,980,630

)

76,470

(1,904,160

)

Total

(994,503

)

(602,567

)

(1,597,070

)

1.	STATUTORY INFORMATION

Parkfoot Garage 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 Company 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company's statement of financial position shows net current assets of £1,670,682 (2024 - Net current assets: £669,210).

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

The Directors believe that the ability of the company to continue to operate its sales through the motor fuel service station and convenience store, will enable the company to continue its operations and settle its obligations for this period in the normal course of business.

On the basis of this consideration, the directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover

Turnover represents the sale of motor fuels and convenience store items, food and beverages, excluding value added tax, recognised at the point of sale to the customer.

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance.

Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the customer, usually on transfer of goods, the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will then flow to the company.

All turnover is from the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

- 8%, 10% on cost

Plant and machinery

- 10%, 20%, 25% on cost

Computer equipment

- 20% on cost

Motor vehicles

- 23% reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

31.1.25

31.1.24

£

£

Wages and salaries

1,326,464

1,196,489

Social security costs

91,216

80,967

Other pension costs

26,943

24,196

1,444,623

1,301,652

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

31.1.25

31.1.24

Shop

26

39

Kitchen

7

7

Butchery

11

5

Management

5

2

Directors

2

3

51

56

31.1.25

31.1.24

£

£

Directors' remuneration

109,821

109,821

Directors' pension contributions to money purchase schemes

5,823

5,709

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.1.25

31.1.24

£

£

Hire of plant and machinery

4,652

3,886

Depreciation - owned assets

162,161

187,008

Auditors' remuneration

17,090

11,170

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.1.25

31.1.24

£

£

Bank loan interest

167,047

159,594

6.

TAXATION

Analysis of the tax charge

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

31.1.25

31.1.24

£

£

Current tax:

UK corporation tax

98,577

148,938

Deferred tax

12,031

(27,291

)

Tax on profit

110,608

121,647

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:

31.1.25

31.1.24

£

£

Profit before tax

403,252

458,696

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24.030%)

100,813

110,225

Effects of:

Capital allowances in excess of depreciation

(2,236

)

-

Depreciation in excess of capital allowances

-

38,713

Deferred Tax - Movement

12,031

(27,291

)

Total tax charge

110,608

121,647

7.

DIVIDENDS

31.1.25

31.1.24

£

£

Ordinary shares of £1 each

Interim paid

146,000

186,000

8.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Land

property

machinery

£

£

£

COST

At 1 February 2024

629,924

1,441,211

605,937

Additions

-

50,928

127,415

At 31 January 2025

629,924

1,492,139

733,352

DEPRECIATION

At 1 February 2024

-

1,132,712

525,255

Charge for year

-

78,613

48,032

At 31 January 2025

-

1,211,325

573,287

NET BOOK VALUE

At 31 January 2025

629,924

280,814

160,065

At 31 January 2024

629,924

308,499

80,682

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2024

236,555

44,396

2,958,023

Additions

-

833

179,176

At 31 January 2025

236,555

45,229

3,137,199

DEPRECIATION

At 1 February 2024

106,962

41,238

1,806,167

Charge for year

31,525

3,991

162,161

At 31 January 2025

138,487

45,229

1,968,328

NET BOOK VALUE

At 31 January 2025

98,068

-

1,168,871

At 31 January 2024

129,593

3,158

1,151,856

9.	FIXED ASSET INVESTMENTS

31.1.25

31.1.24

£

£

Participating interests

488

488

Loans to undertakings in which the company has a participating interest

-

953,910

488

954,398