JP&S Servicess Limited 31/01/2025 iXBRL

Company registration number: 05082587

JP&S Servicess Limited

Financial statements

31 January 2025

JP&S Servicess Limited

Contents

Directors and other information

Strategic report

Director's report

Independent auditor's report to the members

Statement of income and retained earnings

Statement of financial position

Statement of cash flows

Notes to the financial statements

JP&S Servicess Limited

Directors and other information


	Director	Mr V Yoganathan


	Secretary	Mrs J Yoganathan


	Company number	05082587


	Registered office	797 Harrow Road
		Sudbury Town
		Wembley
		HA0 2LP


	Business address	875 Harrow Road
		London
		NW10 5NG


	Auditor	King & King
		65-67 Wembley Hill Road
		Wembley
		Middlesex
		HA9 8DP


	Accountants	Accountancy Solutions
		797 Harrow Road
		Sudbury Town
		Wembley
		HA0 2LP




	Bankers	Barclays Bank
		1st Floor, Acorn House
		36-38 Park Royal Road
		London
		NW10 7JA

JP&S Servicess Limited

Strategic report

Year ended 31 January 2025

Principal Activity and Business Review

The principal activity of the company continues to be that of operating petrol service stations with convenience stores.

The performance of the company, the state of affairs at the balance sheet date and the future prospects are considered to be satisfactory. The company's turnover for the year increased by 13% to £99,140,223 (2024: £87,417,091). Gross profit margin for the year increased to 12.7% (2024: 12.1%). Capital investment of £7,097,069 (2024: £511,377) was incurred on acquisition, refurbishment and updating new and existing properties and equipment. The administrative expenses increased by 22%, due to expansion, inflation and growth. The increase in turnover was driven by refurbished petrol stations becoming fully operational during the year, along with the addition of newly acquired stations. At the Balance sheet date the net assets of the company increased to £14,265,081 (2024: £11,268,618).

The director reviews the business strategy on an ongoing basis to address the key business risks and to secure the company's business. This ensures steady growth over the financial years.

Future developments

The company continually reviews its strategy and business models to sustain and improve profitability and growth. This is achieved by refining the business model to enhance customer care, profit margins,and resource efficiency. The company strives to improve the offering in each branch by maintaining good relationship with the key suppliers. Company's strategy includes identifying opportunities to acquire new businesses or to acquire land to build new petrol stations.

Principal Risk and Uncertainties

The principal risks and uncertainties facing the company are environmental risks, general economic conditions and increased competition. The environmental risk facing the company is general hydro carbon pollution associated with the petroleum forecourts. The director has taken steps to minimise this risk by employing external environmental specialist to continuously monitor and report such risks. The company also regularly maintains the fuel storage and dispensing equipment to very high standards to mitigate risks. The company operates in challenging conditions due to increased competition from supermarkets, weak economic condition, Inflationary pressure and increased price of fuel and cost of the goods sold. The company addresses these risks by negotiating better prices with its fuel suppliers, sourcing products competitively from wholesalers, obtaining bulk buying discounts, and regularly reviewing selling prices and margins.

Financial risk management objectives and policies

The company is exposed to financial risks arising from its normal business activities. Company's policies on financial risk management are implemented by its director. The main risks and the companies approach to dealing with these risks is as follows:

Price risk

The price risk is the potential exposure of the company to the volatility in wholesale oil prices. The company manages this risk by negotiating a volume based supply agreement with fixed margins and closely monitoring the wholesale oil prices before placing purchase orders.

Credit risk

Credit risk is the potential exposure of the company to loss in the event of non-performance by a counterpart. The company is not exposed to credit risk.

Liquidity risk

Liquidity risk is the risk that insufficient working capital will be generated by the company's business activities and in this event suitable sources of funding may not be available. The company mitigates this risk by exercising effective credit management and negotiating favourable terms with its suppliers.

Cash flow risk

The company relies on its internally generated reserves to finance day-to-day operations and on bank borrowing to fund business expansion when needed. Short term cash flow need is monitored on a daily and weekly basis to ensure commitments are met on a timely basis. Longer term cash flow risk is mitigated by strategically negotiating competitive interest rate at fixed margins, with banks.

Key performance indicators ("KPIs")

The director uses financial and non-financial performance indicators to monitor and control performance of the company and to manage the risks. These indicators are regularly reviewed to ensure that they remain appropriate and relevant to monitor the challenges, complexities and improvements in the business. An analysis using KPIs for an understanding of the development, performance and position of the business has been prepared. Due to commercial sensitivity these are not disclosed in the accounts. In any event the director is of the opinion that underlying financial statements would enable key financial KPI's to be evaluated. An indication of key performance indicators used by the director is as follows:

- Gross profit margins of fuel and shop sales for each branch compared to expectations set by the director

- Fuel volume and shop sales monitored against expectations

- Regular qualitative assessment reports prepared by external specialist are used to monitor the quality of the

service offered at each branch

Section 172(1) Statement

The director is required to explain how they consider the interests of key stakeholders, and the broader matters set out in section 172(1) (A) to (F) of the companies Act 2006 ('S172'), when performing their duty to promote the success of the company.

The section 172 statement explains who the company's stakeholder groups are and their material issues and how the director engage with them on principal decisions taken by the company during the financial year. The S172 statement focuses on matters of strategic importance and the level of information disclosed is consistent with the size and the complexity of the business.

The objective of the director is aligned with the expectations of our employees, customers, suppliers, shareholders, communities and society.

Employees

The health, safety and well-being of the people is one of the primary priorities in the way company conducts its business. The company pays above average market salary to retain high calibre staff and maintain low staff turnover. For the business to succeed company manages the employees performances ensuring it operates as efficiently as possible. All employees complete business conduct training relevant to their specific roles, which are refreshed periodically. The employees with the aptitude for challenges are selected for further training for growth and higher responsibilities.

Business Relationships (Customers and Suppliers)

Retaining existing customers and obtaining new customers is a key objective in delivering high standards of service. Company works on developing its customer relationships, continuously reviewing and enhancing customer experience and product offerings at each site. At the same time the company works closely with suppliers to optimise its supply chain and implement efficient processes. The company maintains strong relationships with its key suppliers, ensuring that they are paid within the pre agreed credit terms.

Fairness

The director understands the need to act fairly between the members of the company and believe that his actions as a director should lead to responsible behaviour towards all members and treat them fairly and equally, therefore they also benefit from the successful delivery of the company's strategic goals.

Environment and communities

The company operates in a regulated oil sector. To ensure its impact on the environment and the community is as innocuous as possible, the company closely monitors any fuel loss, using complex electronic monitoring systems and ensures all equipment and storage facilities are well maintained updated regularly. Also, the company works closely with its suppliers to cut down on waste and reduce the amount of unnecessary packaging.

This report was approved by the board of directors on 30 October 2025 and signed on behalf of the board by:

Mr V Yoganathan

Director

JP&S Servicess Limited

Director's report

Year ended 31 January 2025

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

Incorporation

JP & S Servicess Limited is a company limited by shares, incorporated in England and Wales. Its registered office is 797, Harrow Road, Sudbury Town, Wembley HA0 2LP.

Director

The director who served the company during the year was as follows:

Mr V Yoganathan

Dividends

Details of dividends are set out in the note 12 to the financial statement.

Greenhouse gas emissions and energy consumption

	Unit	2025	2024
Emissions resulting from activities for which the company is responsible	tCO2e	48	42
Emissions resulting from the purchase of electricity by the company
for its own use	tCO2e	296	260
		_______	_______
Total emissions	tCO2e	344	302
Total energy consumed	kWh	1,621,535	1,413,552
Total tCO2e per £M Turnover	Total tCO2e per £M Turnover	3.74	3.47
		_______	_______

Methodologies for energy and emissions calculations

The table above summarises the GHG emissions for reporting year: 1st February 2024 - 31st January 2025. The company appointed Carbon Footprint Ltd, a leading carbon and energy management company, to independently assess its Greenhouse Gas (GHG) emissions in accordance with the UK Government's 'Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance'. The GHG emissions have been assessed following the ISO 14064-1:2018 standard and has used the 2023 emission conversion factors published by Department for Environment, Food and Rural Affairs (Defra) and the Department for Business, Energy & Industrial Strategy (BEIS). The assessment follows the GHG Protocol reporting both location and market-based emissions for Scope 2 electricity usage. The operational control approach has been used.

Principal measures taken to increase energy efficiency

As well as ensuring all new electricity contracts are from renewable energy, the company's continued programme to convert old lighting system to new energy efficient LED Lights and sensors for the non retail areas, adding doors to all chillers, replacing the old condensers to new energy efficient units and modernising the equipment's will reduce the overall electricity usage.

Despite the delay to the mandatory timeline for EV adaptation to 2035, the company is planning to roll out new EV charging stations on the fourcourts where feasible. First charging station is planned for installation in 2026.

Events after the end of the reporting period

Details of events after reporting period are set out in the note 31 to the financial statement.

Disclosure of information in the strategic report.

Director s required to prepare "Strategic report" under section 414a of Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013. Under this law directors have prepared the strategic report for the company. The directors have chosen to present the business review, future development and the principal risk and uncertainties in the strategic report.

Director's responsibilities statement

The director is responsible for preparing the strategic report, director's report 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 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 judgments and accounting estimates that are reasonable and prudent; and

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.

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. 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.

Disclosure of information to auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor, King & King Chartered Accountants is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 30 October 2025 and signed on behalf of the board by:

Mr V Yoganathan

Director

JP&S Servicess Limited

Independent auditor's report to the members of

JP&S Servicess Limited

Year ended 31 January 2025

Opinion

We have audited the financial statements of JP&S Servicess Limited (the 'company') for the year ended 31 January 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows 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 FRS 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 auditor’s 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report has 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 director's report. 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 the 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 directors

As explained more fully in the director's responsibilities statement, 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the 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.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Fraud and breaches of laws and regulations and ability to detect Based on our understanding of the company and industry, we identified that the principal risks ofnon-compliance with laws and regulations related to the petroleum licenses, environment protection, food safety and safety at workplace, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impacton the financial statements such as the Companies Act 2006, direct and indirect taxes. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to financial reporting fraudand misappropriation of assets facilitated through the posting of fraudulent journal entries. Audit procedures performed by the engagement team include: - made enquiries with the directors to determine if there were any discussions involving actual frauds or alleged frauds, or non-compliance with laws and regulations. - performing inquiries of management to determine if they were aware of any actual frauds, alleged frauds or non-compliance with laws or regulations. - performing testing of journal entries using a risk-based criteria to determine if any unusual journal entries had been posted that would have had the impact of overstating turnover or concealing the misappropriation of cash at bank and in hand; and - obtaining third party confirmation of bank balances. - documenting and verifying all significant related party transaction. - reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting a material misstatement resulting from error, as fraud may involve deliberate concealment by, for example, forgery or Intentional misrepresentations, or through collusion. 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 auditor’s report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr R Patel (Senior Statutory Auditor)

For and on behalf of

King & King

Chartered Accountants and Statutory Auditors

65-67 Wembley Hill Road

Wembley

Middlesex

HA9 8DP

30 October 2025

JP&S Servicess Limited

Statement of income and retained earnings

Year ended 31 January 2025

		2025	2024
	Note	£	£


Turnover	4	99,140,223	87,417,091
Cost of sales		( 86,553,200)	( 76,835,286)
		_______	_______
Gross profit		12,587,023	10,581,805

Administrative expenses		( 8,101,852)	( 6,636,219)
Other operating income	5	187,951	197,197
		_______	_______
Operating profit	6	4,673,122	4,142,783

Interest receivable and similar income	9	139,911	45,346
Interest payable and similar expenses	10	( 254,485)	( 280,320)
		_______	_______
Profit before taxation		4,558,548	3,907,809

Tax on profit	11	( 1,262,085)	( 1,042,546)
		_______	_______
Profit for the financial year and total comprehensive income		3,296,463	2,865,263
		_______	_______

Dividends declared and paid or payable during the year	12	( 300,000)	( 250,000)

Retained earnings at the start of the year		11,268,518	8,653,255
		_______	_______
Retained earnings at the end of the year		14,264,981	11,268,518
		_______	_______

All the activities of the company are from continuing operations.

JP&S Servicess Limited

Statement of financial position

31 January 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	13	1,200,000		660,714
Tangible assets	14	15,612,805		9,385,060
		_______		_______
			16,812,805		10,045,774

Current assets
Stocks	15	1,629,718		1,575,444
Debtors	16	9,696,512		5,438,120
Cash at bank and in hand		4,108,388		6,058,798
		_______		_______
		15,434,618		13,072,362
Creditors: amounts falling due
within one year	18	( 12,243,482)		( 9,759,529)
		_______		_______
Net current assets			3,191,136		3,312,833
			_______		_______
Total assets less current liabilities			20,003,941		13,358,607

Creditors: amounts falling due
after more than one year	19		( 5,121,348)		( 1,681,325)

Provisions for liabilities	20		( 617,512)		( 408,664)

			_______		_______
Net assets			14,265,081		11,268,618
			_______		_______

Capital and reserves
Called up share capital	23		100		100
Profit and loss account	24		14,264,981		11,268,518
			_______		_______
Shareholders funds			14,265,081		11,268,618
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

Mr V Yoganathan

Director

Company registration number: 05082587

JP&S Servicess Limited

Statement of cash flows

Year ended 31 January 2025

		2025	2024
	Note	£	£

Cash flows from operating activities
Profit for the financial year		3,296,463	2,865,263

Adjustments for:
Depreciation of tangible assets		869,324	674,584
Amortisation of intangible assets		360,714	240,714
Other interest receivable and similar income		( 139,911)	( 45,346)
Interest payable and similar expenses		254,485	280,320
Tax on profit		1,262,085	1,042,546
Accrued expenses/(income)		19,797	( 49,755)

Changes in:
Stocks		( 54,274)	( 44,517)
Trade and other debtors		( 4,258,392)	( 3,875,258)
Trade and other creditors		3,885,331	1,036,218
		_______	_______
Cash generated from operations		5,495,622	2,124,769

Interest paid		( 254,485)	( 280,320)
Interest received		139,911	45,346
Tax paid		( 976,282)	( 1,396,384)
		_______	_______
Net cash from operating activities		4,404,766	493,411
		_______	_______

Cash flows from investing activities
Purchase of tangible assets		( 7,097,069)	( 511,377)
Purchase of intangible assets		( 900,000)	-
		_______	_______
Net cash used in investing activities		( 7,997,069)	( 511,377)
		_______	_______

Cash flows from financing activities
Proceeds from borrowings		1,878,898	( 1,867,025)
Payment of finance lease liabilities		( 320)	-
Equity dividends paid		( 300,000)	( 250,000)
		_______	_______
Net cash from/(used in) financing activities		1,578,578	( 2,117,025)
		_______	_______

Net increase/(decrease) in cash and cash equivalents		( 2,013,725)	( 2,134,991)
Cash and cash equivalents at beginning of year	17	6,058,798	8,193,789
		_______	_______
Cash and cash equivalents at end of year	17	4,045,073	6,058,798
		_______	_______

JP&S Servicess Limited

Notes to the financial statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 797 Harrow Road, Sudbury Town, Wembley, HA0 2LP.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and the requirements of the Companies Act 2006..

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, rounded to nearest £, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Significant judgements,estimation or assumptions that have had to be made by management in preparing these financial statements is as follows:

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the assets and projected disposal values.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Rentals payable under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	Over useful economic life of 7 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Cost includes original purchase price, cost directly attributable to bringing the assets to its working conditions for its intended use, dismantling and restoration costs.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	Not depreciated
Long leasehold property	-	2% straight line
Short leasehold property	-	over 10 years
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

The gains or loss arising on 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 Statement of income and retained earnings

Freehold Property

Land and buildings are not depreciated. This is a departure from FRS 102. Due to extensive maintenance, the residual life of the building is expected to be infinitive. Therefore the value of depreciation would be immaterial.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase on a first in first out basis and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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.

A financial asset or a financial liability is recognised only when the company becomes a 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Going Concern

At the time of approving the financial statements, the director has a reasonable expectation that the company 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.

Cash and cash equivalents

Cash and cash equivalent ate basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.

4. Turnover

The whole of the turnover is derived from the United Kingdom. An analysis of turnover by business operation is given below:

	2025	2024
	£	£
Fuel sales	85,919,042	75,714,385
Shop sales	12,878,426	11,508,442
Car wash and vacuum	342,755	194,264
	_______	_______
	99,140,223	87,417,091
	_______	_______

5. Other operating income

	2025	2024
	£	£
Rental income	95,321	110,043
Commission receivable	67,630	58,734
Other operating income	25,000	28,420
	_______	_______
	187,951	197,197
	_______	_______

6. Operating profit

Operating profit is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	360,714	240,714
Depreciation of tangible assets	869,324	674,584
Impairment of trade debtors	27,134	25,154
Operating lease rentals	961,808	635,337
Fees payable for the audit of the financial statements	22,000	18,000
	_______	_______

7. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to:

	2025	2024
Administrative staff	4	4
Director	1	1
Managers	14	12
Retail assistance	124	108
	_______	_______
	143	125
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	3,225,715	2,657,149
Social security costs	276,463	204,440
Other pension costs	291,698	428,112
	_______	_______
	3,793,876	3,289,701
	_______	_______

8. Directors remuneration

The director's aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	12,300	12,300
Company contributions to pension schemes in respect of qualifying services	60,000	96,919
	_______	_______
	72,300	109,219
	_______	_______

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	Number	Number
Defined contribution plans	1	1
	_______	_______

9. Interest receivable and similar income

	2025	2024
	£	£
Bank deposits	87,648	24,811
Other interest receivable and similar income	52,263	20,535
	_______	_______
	139,911	45,346
	_______	_______

10. Interest payable and similar expenses

	2025	2024
	£	£
Bank loans and overdrafts	249,969	269,199
Other interest payable and similar expenses	4,516	11,121
	_______	_______
	254,485	280,320
	_______	_______

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	1,053,238	1,035,863
	_______	_______

Deferred tax:
Origination and reversal of timing differences	208,847	6,683
	_______	_______
Tax on profit	1,262,085	1,042,546
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25.00 % (2024: 24.00%).

	2025	2024
	£	£
Profit before taxation	4,558,548	3,907,809
	_______	_______

Profit multiplied by rate of tax	1,139,637	937,874
Effect of expenses not deductible for tax purposes	772	297
Effect of capital allowances and depreciation	( 87,171)	97,692
Deferred taxation	208,847	6,683
	_______	_______
Tax on profit	1,262,085	1,042,546
	_______	_______

12. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year	300,000	250,000
	_______	_______

13. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 February 2024	3,028,053	3,028,053
Additions	900,000	900,000
	_______	_______
At 31 January 2025	3,928,053	3,928,053
	_______	_______
Amortisation
At 1 February 2024	2,367,339	2,367,339
Charge for the year	360,714	360,714
	_______	_______
At 31 January 2025	2,728,053	2,728,053
	_______	_______
Carrying amount
At 31 January 2025	1,200,000	1,200,000
	_______	_______

At 31 January 2024	660,714	660,714
	_______	_______

14. Tangible assets

	Freehold property	Long leasehold property	Short leasehold property	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£	£
Cost
At 1 February 2024	5,072,843	2,149,249	1,022,306	5,766,712	25,065	14,036,175
Additions	5,494,805	78,979	46,296	1,476,989	-	7,097,069
	_______	_______	_______	_______	_______	_______
At 31 January 2025	10,567,648	2,228,228	1,068,602	7,243,701	25,065	21,133,244
	_______	_______	_______	_______	_______	_______
Depreciation
At 1 February 2024	-	587,815	408,880	3,637,569	16,851	4,651,115
Charge for the year	-	44,565	101,887	722,872	-	869,324
	_______	_______	_______	_______	_______	_______
At 31 January 2025	-	632,380	510,767	4,360,441	16,851	5,520,439
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31 January 2025	10,567,648	1,595,848	557,835	2,883,260	8,214	15,612,805
	_______	_______	_______	_______	_______	_______

At 31 January 2024	5,072,843	1,561,434	613,426	2,129,143	8,214	9,385,060
	_______	_______	_______	_______	_______	_______

The company granted first legal charge over (four of the freehold and two long leasehold) properties to secure the bank facilities.

15. Stocks

	2025	2024
	£	£
Stocks	1,629,718	1,575,444
	_______	_______

16. Debtors

	2025	2024
	£	£
Trade debtors	559,925	645,108
Prepayments and accrued income	301,254	304,931
Other debtors	8,835,333	4,488,081
	_______	_______
	9,696,512	5,438,120
	_______	_______

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Other debtors	29,475	28,697
	_______	_______

The other debtors include related party loans of £8,797,025 (2024: £4,053,378), as described in the "Related party transactions" in note 30 to the accounts.

17. Cash and cash equivalents

	2025	2024
	£	£
Cash at bank and in hand	4,108,388	6,058,798
Bank overdrafts	( 63,315)	-
	_______	_______
	4,045,073	6,058,798
	_______	_______

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	585,980	2,322,500
Trade creditors	10,067,953	6,240,990
Accruals and deferred income	218,320	198,523
Corporation tax	437,170	454,469
Social security and other taxes	448,411	334,715
Obligations under finance leases	-	320
Director loan accounts	238,710	-
Other creditors	246,938	208,012
	_______	_______
	12,243,482	9,759,529
	_______	_______

19. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	5,121,348	1,681,325
	_______	_______

The bank loan is secured by a legal mortgage over the properties owned by the company, the mortgage debentures over JP& S Servicess Limited and a cross guarantee and debenture over JP& S Investment Ltd, a company owned by directors close family. The bank loan was for the term of 5 years from February 2024 and October 2024. The interest on above loan is charged at an interest margin of 1.77% over bank base rate.

In addition, the company has a credit card facility of £50,000, secured as above.

Included within creditors: amounts falling due after more than one year is an amount of £ - (2024 £ 25,993 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

20. Provisions

	Deferred tax (note 21)	Total
	£	£
At 1 February 2024	408,665	408,665
Additions	208,847	208,847
	_______	_______
At 31 January 2025	617,512	617,512
	_______	_______

21. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 20)	617,512	408,664
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	617,512	408,664
	_______	_______

22. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 291,698 (2024: £ 428,112 ).

23. Called up share capital

Authorised share capital

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	1,000	1,000	1,000	1,000
	_______	_______	_______	_______

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______

Each "Ordinary Share" is entitled to full voting, dividend and capital distribution rights including distributions arising on winding up of the company.

24. Reserves

Company only has Profit and loss account reserve at year end. This reserve records retained earnings and accumulated losses.

25. Analysis of changes in net debt

	At 1 February 2024	Cash flows	At 31 January 2025
	£	£	£
Cash and cash equivalents	6,058,798	(1,950,410)	4,108,388
Bank overdrafts	-	(63,315)	(63,315)
Debt due within one year	(2,322,820)	1,561,445	(761,375)
Debt due after one year	(1,681,325)	(3,440,023)	(5,121,348)
	_______	_______	_______
	2,054,653	( 3,892,303)	( 1,837,650)
	_______	_______	_______

26. Capital commitments

Capital expenditure contracted for but not provided for in the financial statements is as follows:

	2025	2024
	£	£
Tangible assets	-	2,700,000
	_______	_______

27. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	961,349	811,349
Later than 1 year and not later than 5 years	2,198,264	2,699,264
Later than 5 years	7,075,550	5,903,058
	_______	_______
	10,235,163	9,413,671
	_______	_______

28. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr V Yoganathan	279,273	-	( 517,983)	( 238,710)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr V Yoganathan	( 135,916)	967,722	( 552,533)	279,273
		_______	_______	_______	_______

29. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
JP& S Investment Ltd	2,350,000	2,050,000	4,750,000	2,400,000
Goldline Fuel (Hutton) Ltd	( 200,000)	390,000	440,000	640,000
JP& S Pension Scheme	106,633	555,877	840,738	734,105
Directors Loan	( 517,983)	415,189	( 238,710)	279,273
Baldock Operations Ltd	1,250,000	-	1,250,000	-
Chigwell Operations Ltd	305,866	-	305,866	-
Vimco Ltd	850,000	-	850,000	-
SA Retail (Ruislip) Ltd	360,421	-	360,421	-
Rent paid to director Shareholders	300,000	300,000	-	-
Rent paid to Company Pension scheme	172,825	170,000	-	-
	_______	_______	_______	_______

During the year the company had above loans with connected companies, director of the company and with the company pension fund. The loans to JP& S Investments Ltd,Goldline Fuel (Hutton) Ltd, Baldock Operations Ltd, Chigwell Operations Ltd, Vimco Ltd and SA Retail (Ruislip) Ltd are interest free and repayable on demand. The loan made to JP& S Pension fund is for a term of 5 years from drawdown and at an interest of 2% above Bank of England base rate. Unsecured debit balances on director loan is repayable on demand and subject to an interest rate of 3% per annum.

30. Controlling party

Mr V Yoganathan controls the majority of the issued share capital of the company.

31. Events after the reporting period

In October 2025, company acquired a new petrol station for £4.4 million. Company borrowed £5 million to fund the purchase and refurbishment of the above business.