REGISTERED NUMBER: 15456428 (England and Wales)

Group Strategic Report, Report of the Director and

Consolidated Financial Statements

for the Period 31 January 2024 to 30 April 2025

for

SES Autoparts Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTOR:

S C Wilson

REGISTERED OFFICE:

Kingfisher House Unit D

Fernacre Business Park

Budds Lane

Romsey

Hampshire

SO51 0HA

REGISTERED NUMBER:

15456428 (England and Wales)

AUDITORS:

Harold Sharp Limited

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

The director presents his strategic report of the company and the group for the period 31 January 2024 to 30 April 2025.

REVIEW OF BUSINESS

The principal activity of the company was the provision of exhausts and related components to the motor trade.

The turnover of the group for the financial year amounted to £16,080,557. The profit for the year after taxation was £324,557.

The company is aware of the competitiveness of the market but has still managed to increase turnover as well maintaining a similar gross margin.

PRINCIPAL RISKS AND UNCERTAINTIES

Management risks

The management of the company is controlled by its six directors who are responsible for strategic matters and future development decisions.

Credit risk

The company has negligible credit risk as credit control is very tightly managed with strict rules being set for each customer.

Financial risks

The company manages its cash and borrowing requirements in order to minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Operating risk

The company manages day to day operating risks by adopting best practice wherever possible. This process includes staff training and that industry standards and regulations are adhered to to the highest possible levels.

ON BEHALF OF THE BOARD:

S C Wilson - Director

31 October 2025

The director presents his report with the financial statements of the company and the group for the period 31 January 2024 to 30 April 2025.

INCORPORATION

The group was incorporated on 31 January 2024 .

DIVIDENDS

The total distribution of dividends for the period ended 30 April 2025 will be £ 28,800 .

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTOR

S C Wilson was appointed as a director on 31 January 2024 and held office during the whole of the period from then to the date of this report.

The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Harold Sharp Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S C Wilson - Director

31 October 2025

Opinion

We have audited the financial statements of SES Autoparts Group Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 April 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2025 and of the group's profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including The Companies Act 2006.

- we obtained an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with the framework by making appropriate enquiries of management as well as considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulation:

- we made enquiries of those charged with governance and management concerning:

- the risk of fraud;

- instances of non-compliance with laws and regulations or knowledge of actual, suspected, or alleged fraud is documented during the period;

- we allocated an engagement team that we considered collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

Based on the results of our risk assessment, our procedures included, but were not limited to:

- performing analytical procedures to identify any unusual or unexpected relationships.

- evaluation whether the selection and application of accounting policies by the entity that may be indicative of fraudulent financial reporting resulting from management's efforts to manage earning.

- assessing whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias.

- agreeing financial statement disclosures to underlying supporting documentation.

- reading the minutes of meetings of those charged with governance.

- reviewing the correspondence with relevant regulatory bodies.

- testing of journal entries to address the risk of fraud through management override.

- incorporating an element of unpredictability in the selection of the nature, timing, and extent of our audit procedures.

- corroborating the business rationale for transactions outside the normal course of business.

CONCLUSIONS REGARDING THE RISKS OF IRREGULARITIES INCLUDING FRAUD

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

We considered our audit was capable of detecting irregularities due to:

- the effectiveness of the entity's internal controls;

- the nature, timing and extent of audit procedures performed; and

- the absence of contradictory evidence.

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.

Frederick Norman (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

31 October 2025

TURNOVER

3

16,080,557

Cost of sales

8,322,297

GROSS PROFIT

7,758,260

Distribution costs

23,634

Administrative expenses

7,033,705

7,057,339

OPERATING PROFIT

5

700,921

Interest payable and similar expenses

6

24,415

PROFIT BEFORE TAXATION

676,506

Tax on profit

7

351,949

PROFIT FOR THE FINANCIAL PERIOD

324,557

Profit attributable to:

Owners of the parent

324,557

PROFIT FOR THE PERIOD

324,557

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

324,557

Total comprehensive income attributable to:

Owners of the parent

324,557

FIXED ASSETS

Intangible assets

10

6,377,726

Tangible assets

11

1,122,706

Investments

12

-

7,500,432

CURRENT ASSETS

Stocks

13

2,480,922

Debtors

14

1,363,369

Cash at bank and in hand

985,314

4,829,605

CREDITORS

Amounts falling due within one year

15

2,977,277

NET CURRENT ASSETS

1,852,328

TOTAL ASSETS LESS CURRENT LIABILITIES

9,352,760

CREDITORS

Amounts falling due after more than one year

16

(109,788

)

PROVISIONS FOR LIABILITIES

19

(197,139

)

NET ASSETS

9,045,833

CAPITAL AND RESERVES

Called up share capital

20

8,750,076

Retained earnings

21

295,757

SHAREHOLDERS' FUNDS

9,045,833

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

S C Wilson - Director

FIXED ASSETS

Intangible assets

10

-

Tangible assets

11

-

Investments

12

12,295,283

12,295,283

CURRENT ASSETS

Debtors

14

1

Cash at bank

14,084

14,085

CREDITORS

Amounts falling due within one year

15

2,335,334

NET CURRENT LIABILITIES

(2,321,249

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,974,034

CAPITAL AND RESERVES

Called up share capital

20

8,750,001

Retained earnings

1,224,033

SHAREHOLDERS' FUNDS

9,974,034

Company's profit for the financial year

1,224,033

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

S C Wilson - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

8,750,076

-

8,750,076

Dividends

-

(28,800

)

(28,800

)

Total comprehensive income

-

324,557

324,557

Balance at 30 April 2025

8,750,076

295,757

9,045,833

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

8,750,001

-

8,750,001

Total comprehensive income

-

1,224,033

1,224,033

Balance at 30 April 2025

8,750,001

1,224,033

9,974,034

Cash flows from operating activities

Cash generated from operations

1

1,658,026

Interest element of hire purchase payments paid

(24,415

)

Tax paid

(716,766

)

Net cash from operating activities

916,845

Cash flows from investing activities

Purchase of tangible fixed assets

(66,567

)

Purchase of fixed asset investments

890,678

Sale of tangible fixed assets

8,737

Net cash from investing activities

832,848

Cash flows from financing activities

Capital repayments in year

(19,056

)

Amount introduced by directors

4,677

Redemption of preference shares

(750,000

)

Net cash from financing activities

(764,379

)

Increase in cash and cash equivalents

985,314

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

985,314

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

£

Profit before taxation

676,506

Depreciation charges

932,422

Profit on disposal of fixed assets

(3,527

)

Finance costs

24,415

1,629,816

Decrease in stocks

14,453

Increase in trade and other debtors

(44,021

)

Increase in trade and other creditors

57,778

Cash generated from operations

1,658,026

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:

Period ended 30 April 2025

30.4.25

31.1.24

£

£

Cash and cash equivalents

985,314

-

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 31.1.24

Cash flow

At 30.4.25

£

£

£

Net cash

Cash at bank and in hand

-

985,314

985,314

-

985,314

985,314

Debt

Finance leases

-

(285,015

)

(285,015

)

-

(285,015

)

(285,015

)

Total

-

700,299

700,299

1.	STATUTORY INFORMATION

SES Autoparts Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 15456428 and its registered office is Kingfisher House Unit D, Fernacre Business Park, Budds Lane, Romsey, Hampshire SO51 0HA.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.

Basis of consolidation

The consolidated financial statements include the audited accounts of the company and its subsidiaries made up to 30 April 2025. The financial information of the subsidiaries is prepared as of the same reporting date and consolidated using consistent accounting policies. Group inter-company balances and transactions, including any unrealised profits arising from Group inter-company transactions are eliminated in full.

Results of subsidiary undertakings acquired or disposed of during the current and prior financial year were included in the financial statements. from the effective date of control or up to the date of cessation of control. The separable net assets of the acquired subsidiary undertakings were incorporated into the financial statements on the basis of fair value as at the effective date of the Group acquiring control.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financial agreement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

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

Plant and machinery - 25% Reducing balance

Fixtures and fittings - 25% Reducing balance

Motor vehicles - 25% Reducing balance

Computer equipment - 25% Reducing balance

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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

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

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 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 amotised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators or 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 flowshave 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 and 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, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amotised 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. Trade creditors are recognised initially at transaction price and subsequently measured at the amortised cost using the effective interest method.

Other financial liabilities

Debt instruments that do not meet the conditions in the 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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Going concern

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis of the lease.

Equity instruments

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

3.

TURNOVER

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

4.	EMPLOYEES AND DIRECTORS

£

Wages and salaries

3,907,698

Social security costs

414,895

Other pension costs

141,384

4,463,977

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

Drivers, office and management

125

The average number of employees by undertakings that were proportionately consolidated during the period was 125 .

£

Director's remuneration

375,716

Information regarding the highest paid director is as follows:

£

Emoluments etc

163,500

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

£

Depreciation - owned assets

223,786

Profit on disposal of fixed assets

(3,527

)

Goodwill amortisation

708,636

Auditors' remuneration

11,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

Hire purchase

24,415

7.

TAXATION

Analysis of the tax charge

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

£

Current tax:

UK corporation tax

352,667

Deferred tax

(718

)

Tax on profit

351,949

Reconciliation of total tax charge included in profit and loss

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

£

Profit before tax

676,506

Profit multiplied by the standard rate of corporation tax in the UK of 25 %

169,127

Effects of:

Expenses not deductible for tax purposes

5,663

Income not taxable for tax purposes

(882

)

Depreciation in excess of capital allowances

178,041

Total tax charge

351,949

8.	INDIVIDUAL INCOME STATEMENT

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

9.

DIVIDENDS

£

Ordinary shares of £1 each

Interim

28,800

10.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 31 January 2024

6,263

Additions

7,086,362

At 30 April 2025

7,092,625

AMORTISATION

At 31 January 2024

6,263

Amortisation for period

708,636

At 30 April 2025

714,899

NET BOOK VALUE

At 30 April 2025

6,377,726

At 30 January 2024

-

Goodwill arises on the consolidation of the group's acquisitions that were acquired under the acquisition method of accounting.

Goodwill of £7,086,362 arising on the acquisition of 100% of SES Autoparts (Holdings) Limited is being amortised over 10 years.