IRIS Accounts Production v25.3.0.601 02000126 director 1.2.24 31.1.25 31.1.25 Medium entities the wholesale of motor vehicle components true false true true false false true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02000126 2024-01-31 02000126 2025-01-31 02000126 2024-02-01 2025-01-31 02000126 2023-01-31 02000126 2023-02-01 2024-01-31 02000126 2024-01-31 02000126 ns15:EnglandWales 2024-02-01 2025-01-31 02000126 ns14:PoundSterling 2024-02-01 2025-01-31 02000126 ns10:Director1 2024-02-01 2025-01-31 02000126 ns10:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 02000126 ns10:MediumEntities 2024-02-01 2025-01-31 02000126 ns10:Audited 2024-02-01 2025-01-31 02000126 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-02-01 2025-01-31 02000126 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-02-01 2025-01-31 02000126 ns10:FullAccounts 2024-02-01 2025-01-31 02000126 ns10:OrdinaryShareClass1 2024-02-01 2025-01-31 02000126 ns10:CompanySecretary1 2024-02-01 2025-01-31 02000126 ns10:RegisteredOffice 2024-02-01 2025-01-31 02000126 ns5:CurrentFinancialInstruments 2025-01-31 02000126 ns5:CurrentFinancialInstruments 2024-01-31 02000126 ns5:ShareCapital 2025-01-31 02000126 ns5:ShareCapital 2024-01-31 02000126 ns5:RetainedEarningsAccumulatedLosses 2025-01-31 02000126 ns5:RetainedEarningsAccumulatedLosses 2024-01-31 02000126 ns5:ShareCapital 2023-01-31 02000126 ns5:RetainedEarningsAccumulatedLosses 2023-01-31 02000126 ns5:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 02000126 ns5:RetainedEarningsAccumulatedLosses 2024-02-01 2025-01-31 02000126 ns5:OwnedAssets 2024-02-01 2025-01-31 02000126 ns5:OwnedAssets 2023-02-01 2024-01-31 02000126 ns5:PlantMachinery 2024-01-31 02000126 ns5:FurnitureFittings 2024-01-31 02000126 ns5:MotorVehicles 2024-01-31 02000126 ns5:ComputerEquipment 2024-01-31 02000126 ns5:PlantMachinery 2024-02-01 2025-01-31 02000126 ns5:FurnitureFittings 2024-02-01 2025-01-31 02000126 ns5:MotorVehicles 2024-02-01 2025-01-31 02000126 ns5:ComputerEquipment 2024-02-01 2025-01-31 02000126 ns5:PlantMachinery 2025-01-31 02000126 ns5:FurnitureFittings 2025-01-31 02000126 ns5:MotorVehicles 2025-01-31 02000126 ns5:ComputerEquipment 2025-01-31 02000126 ns5:PlantMachinery 2024-01-31 02000126 ns5:FurnitureFittings 2024-01-31 02000126 ns5:MotorVehicles 2024-01-31 02000126 ns5:ComputerEquipment 2024-01-31 02000126 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-01-31 02000126 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-01-31 02000126 ns5:BetweenOneFiveYears 2025-01-31 02000126 ns5:BetweenOneFiveYears 2024-01-31 02000126 ns5:DeferredTaxation 2024-01-31 02000126 ns5:DeferredTaxation 2024-02-01 2025-01-31 02000126 ns5:DeferredTaxation 2025-01-31 02000126 ns10:OrdinaryShareClass1 2025-01-31 02000126 ns5:RetainedEarningsAccumulatedLosses 2024-01-31

REGISTERED NUMBER: 02000126 (England and Wales)

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTOR AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 JANUARY 2025 |

| FOR |

| LOURIMAR LIMITED |

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 January 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 5 |

| Statement of Comprehensive Income | 8 |

| Balance Sheet | 9 |

| Statement of Changes in Equity | 10 |

| Notes to the Financial Statements | 11 |

| LOURIMAR LIMITED |

COMPANY INFORMATION

for the year ended 31 January 2025

| DIRECTOR: | R J Shortis

| SECRETARY: | S P Allman

| REGISTERED OFFICE: | 186-200 Salhouse Road

| Norwich

| Norfolk

| NR7 9AH

| REGISTERED NUMBER: | 02000126 (England and Wales)

| AUDITORS: | Sexty & Co

| Chartered Certified Accountants

| & Statutory Auditor

| 124 Thorpe Road

| Norwich

| Norfolk

| NR1 1RS

| SOLICITORS: | Howes Percival

| Flint Buildings

| 1 Bedding Lane

| Norwich

| Norfolk

| NR3 1RG

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

STRATEGIC REPORT

for the year ended 31 January 2025

The director presents his strategic report for the year ended 31 January 2025.

CHAIRMAN'S REPORT

Lourimar Limited, together with its fellow subsidiary Motosave Limited (trading as Wilco Motosave) and parent company Wilco Motor Spares Limited, had a combined turnover of over £24.3m, pre-tax losses of £343k and net assets of over £7.9m.

The principal activity of the company during the year was the retail trade of motor vehicle parts and accessories, along with garage services.

A comprehensive business review is available in the consolidated group financial statements of K J Shortis Limited.

As a retail-based business dealing directly with the end user, the past year has been exceedingly tough, as most retail businesses have found it, with additional cost forced upon us like the living wage increase and business rates. Along with the uncertainty of the new labour government customers were watching the pennies, which meant keeping their car for longer and getting it serviced and repaired at independent garages, who are our customers, rather than main dealers.

We have actively been installing Solar on suitable sites to reduce our dependency on the utility suppliers and costs. Along with the solar investment the group has started purchasing electric vans when suitable deals are available.

The current financial year has been hit in April with massive increases in the living wage and employers NI increases, which will affect the bottom line in the current year. To offset some of these costs, the directors have been working hard to increase margins, through better buying, increase cost management and controls.

PRINCIPAL RISKS AND UNCERTAINTIES

Business risks:

The past few years has seen the UK Aftermarket in a state of flux, with mergers and formations of new buying groups, this appears to have settled down, temporarily. However, independent businesses have been more active with expansion, partly due to the lowering interest rates. There will be opportunities and when the right opportunities arise, the group can take advantage of these opportunities, due to its strong financial position. The company can afford and hold stocks when suitable deals become available via our good supplier and customer relationships.

Competition:

The UK Aftermarket is a highly competitive marketplace, we have always prided ourselves on being family owned and family run, as well as being totally independent and not members to any buying groups. This allows us to differentiate ourselves from the competition, which we know our customers value. The Company manages this by continually assessing, reviewing and developing suitable systems and practises to ensure quality of service to maintain good customer relationships and competitive pricing.

Regulatory compliance risk:

The Company is subject to various laws and regulations set by local authorities and the Health and Safety Executive. The directors ensure that they are up to date and comply with all relevant areas of legislation to mitigate the risk of fines or other disciplinary actions.

Financial risk management:

The directors continually monitor the performance of the Company, trade debtors, stock levels and stock movements to minimise the financial risk of the business. In addition, the Company ensures adequate financing facilities are in place to meet the requirements of the business, along with the strong financial strength of the Group's companies.

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

STRATEGIC REPORT

for the year ended 31 January 2025

Financial key performance indicators

The directors consider that the key financial performance indicators are those that communicate the financial performance and strength of the Company as a whole, these being turnover and gross margin.

| Y/E 31 January 2025 |  | Y/E 31 January 2024 |

£ |  | £ |  |

Turnover |  | £724,072 |  | £881,483 |

Gross margin |  | 32.3% |  | 31.6% |

The directors are pleased with the results of the past year; however, the current year is very testing, due to the increase in the labour costs that have been forced onto us by the government. As with most industries, being able to recruit suitable staff has been the biggest problem. We are fortunate that we have loyal key staff to drive the group forward, to assist the group in continuing to reinvest and expand the business.

ON BEHALF OF THE BOARD:

R J Shortis - Director

17 October 2025

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

REPORT OF THE DIRECTOR

for the year ended 31 January 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2025.

DIRECTOR

R J Shortis held office during the whole of the period from 1 February 2024 to the date of this report.

FUTURE DEVELOPMENTS

Narrative for future developments is included within the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

AUDITORS

The auditors, Sexty & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R J Shortis - Director

17 October 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LOURIMAR LIMITED

Opinion

We have audited the financial statements of Lourimar Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 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 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 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 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 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

LOURIMAR LIMITED

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 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, 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 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 four, 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 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 company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have made enquiries with management regarding their procedures for complying with laws and regulations along with detecting and prevent fraud. We also review minutes of meetings and any published news articles to identify any instances of non-compliance with and regulations.

Evidence has been obtained where applicable. Written representation has been obtained to confirm there have been no breaches of laws and regulations.

The audit procedures are designed so that with reasonable assurance, material misstatements can be detected, including those relating to fraud. Specifically, areas which involve provisions or estimations have been tested where material.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

LOURIMAR 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.

I A Barlow (Senior Statutory Auditor)

for and on behalf of Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

17 October 2025

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

STATEMENT OF COMPREHENSIVE

INCOME

for the year ended 31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 724,072 |  | 881,483 |  |

Cost of sales | 490,337 |  | 603,061 |  |

GROSS PROFIT | 233,735 |  | 278,422 |  |

Administrative expenses | 221,077 |  | 227,484 |  |

OPERATING PROFIT | 5 | 12,658 |  | 50,938 |  |

Interest receivable and similar income | - |  | 2,542 |  |

PROFIT BEFORE TAXATION | 12,658 |  | 53,480 |  |

Tax on profit | 6 | (1,161 | ) | 14,146 |  |

PROFIT FOR THE FINANCIAL YEAR | 13,819 |  | 39,334 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 13,819 |  | 39,334 |  |

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

BALANCE SHEET

31 January 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 38,135 |  | 57,675 |  |

CURRENT ASSETS

Stocks | 8 | 76,010 |  | 96,473 |  |

Debtors | 9 | 602,705 |  | 598,314 |  |

Cash at bank | 213,291 |  | 177,856 |  |

892,006 |  | 872,643 |  |

CREDITORS

Amounts falling due within one year | 10 | 78,238 |  | 83,934 |  |

NET CURRENT ASSETS | 813,768 |  | 788,709 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 851,903 |  | 846,384 |  |

PROVISIONS FOR LIABILITIES | 12 | 6,200 |  | 14,500 |  |

NET ASSETS | 845,703 |  | 831,884 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 405,330 |  | 405,330 |  |

Retained earnings | 14 | 440,373 |  | 426,554 |  |

SHAREHOLDERS' FUNDS | 845,703 |  | 831,884 |  |

The financial statements were approved by the director and authorised for issue on 17 October 2025 and were signed by:

R J Shortis - Director

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

STATEMENT OF CHANGES IN EQUITY

for the year ended 31 January 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 February 2023 | 405,330 |  | 387,220 |  | 792,550 |  |

Changes in equity

Total comprehensive income | - |  | 39,334 |  | 39,334 |  |

Balance at 31 January 2024 | 405,330 |  | 426,554 |  | 831,884 |  |

Changes in equity

Total comprehensive income | - |  | 13,819 |  | 13,819 |  |

Balance at 31 January 2025 | 405,330 |  | 440,373 |  | 845,703 |  |

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 January 2025

1. | STATUTORY INFORMATION

| Lourimar 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.

| The presentation currency of the financial statements is the Pound Sterling (£) rounded to nearest £.

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirement of paragraph 33.7.

| This information is included in the consolidated financial statements of K.J. Shortis Limited as at 31 January 2025 and these financial statements may be obtained from Companies House.

| Related party transactions

| The company has taken the disclosure exemption available as permitted by FRS 102 section 33.1A not to disclose transactions with group member companies which are also wholly owned subsidiaries within the same group.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| The turnover figure shown in the statement of comprehensive income relates wholly to sale of goods.

| Tangible fixed assets

| Plant & Machinery | - 15% straight line basis |

| Fixtures and fittings | -15% reducing balance |

| Motor vehicles | -25% reducing balance |

| Computer equipment | -20% straight line basis

| Stocks

| Stocks are stated at the lower of cost and net realisable value using the average cost method, after making due allowance for obsolete and slow moving items.

| Cost comprises the average cost of all purchases.

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| 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.

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2025

3. | ACCOUNTING POLICIES - continued

| 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.

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 98,225 |  | 102,692 |  |

| Social security costs | 7,958 |  | 8,432 |  |

| Other pension costs | 1,396 |  | 1,924 |  |

107,579 |  | 113,048 |  |

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

| 2025 |  | 2024

| Sales and administration | 6 |  | 5 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | - |  | - |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Other operating leases | 29,130 |  | 29,131 |  |

| Depreciation - owned assets | 19,540 |  | 18,564 |  |

| Loss on disposal of fixed assets | - |  | 3,553 |  |

| Auditors' remuneration | 5,000 |  | 4,621 |  |

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2025

6. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 7,000 |  | 12,000 |  |

| Under / (over) provision | 139 |  | (354 | ) |

| Total current tax | 7,139 |  | 11,646 |  |

| Deferred tax | (8,300 | ) | 2,500 |  |

| Tax on profit | (1,161 | ) | 14,146 |  |

| UK corporation tax has been charged at 25% (2024 - 24.03%).

| Reconciliation of total tax (credit)/charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 12,658 |  | 53,480 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 3,165 |  | 13,370 |  |

| Effects of:

| Capital allowances in excess of depreciation | - |  | (1,630 | ) |

| Depreciation in excess of capital allowances | 4,160 |  | - |  |

| Rounding provision | (325 | ) | (138 | ) |

| Deferred tax | (8,300 | ) | 2,500 |  |

| Loss on disposal of assets | - |  | 888 |  |

| Over provision in prior year | 139 |  | (354 | ) |

| Adjustment relating to blended corporation tax rate | - |  | (490 | ) |

| Total tax (credit)/charge | (1,161 | ) | 14,146 |  |

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2025

7. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 February 2024 |

| and 31 January 2025 | 12,750 |  | 38,019 |  | 66,144 |  | 854 |  | 117,767 |  |

| DEPRECIATION

| At 1 February 2024 | 1,913 |  | 31,097 |  | 26,461 |  | 621 |  | 60,092 |  |

| Charge for year | 1,913 |  | 1,070 |  | 16,437 |  | 120 |  | 19,540 |  |

| At 31 January 2025 | 3,826 |  | 32,167 |  | 42,898 |  | 741 |  | 79,632 |  |

| NET BOOK VALUE

| At 31 January 2025 | 8,924 |  | 5,852 |  | 23,246 |  | 113 |  | 38,135 |  |

| At 31 January 2024 | 10,837 |  | 6,922 |  | 39,683 |  | 233 |  | 57,675 |  |

8. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 76,010 |  | 96,473 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 82,708 |  | 90,931 |  |

| Amounts owed by group undertakings | 510,697 |  | 497,617 |  |

| Prepayments and accrued income | 9,300 |  | 9,766 |  |

602,705 |  | 598,314 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 48,779 |  | 58,019 |  |

| Tax | 7,000 |  | 12,000 |  |

| Social security and other taxes | 10,560 |  | 2,061 |  |

| Other creditors | 279 |  | 259 |  |

| Accrued expenses | 11,620 |  | 11,595 |  |

78,238 |  | 83,934 |  |

11. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Between one and five years | 21,315 |  | 41,968 |  |

| LOURIMAR LIMITED (REGISTERED NUMBER: 02000126) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 January 2025

12. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Depreciation in excess of

| capital allowances | 6,200 |  | 14,500 |  |

6,200 |  | 14,500 |  |

| Deferred |

| tax |

£ |

| Balance at 1 February 2024 | 14,500 |  |

| Provided during year | (8,300 | ) |

| Balance at 31 January 2025 | 6,200 |  |

| The deferred tax relates to depreciation in excess of capital allowances.

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 405,330 | Ordinary | £1 | 405,330 |  | 405,330 |  |

14. | RESERVES

| Retained

| earnings

£ |

| At 1 February 2024 | 426,554 |  |

| Profit for the year | 13,819 |  |

| At 31 January 2025 | 440,373 |  |

15. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme and contributions are charged in the profit and loss account as they accrue. The charge for the period was £1,396 (2024 £1,924).

16. | ULTIMATE PARENT COMPANY

| The ultimate parent company is K J Shortis Limited. The direct parent company is Wilco Motor Spares Limited, a wholly owned subsidiary of K J Shortis Limited. The companies have the same registered office address.