Company registration number 03300914 (England and Wales)
LEWIS FORECOURTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
LEWIS FORECOURTS LIMITED
COMPANY INFORMATION
Directors
Mrs J Lewis
Mr P Lewis
Secretary
Mrs J Lewis
Company number
03300914
Registered office
Bangor Road
Pentraeth
Anglesey
LL75 8AZ
Auditor
MHA
Richard House
9 Winckley Square
Preston
PR1 3HP
LEWIS FORECOURTS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 21
LEWIS FORECOURTS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Strategy and business model

Lewis Forecourts Limited is a provider of forecourt and convenience stores services.

The strategy of the business is five-fold:

1. To supply quality fuel products at a fair price for the use and benefit of their local communities.

2. To supply convenience store products based on the needs of those local communities at competitive prices.

3. To be open for business based on the needs of the local communities.

4. To offer employment opportunities and opportunities for the staff to develop and further their future careers within the business.

5. To look at opportunities to develop additional sites in areas where the directors believe there are opportunities to offer the above services.

In keeping with the company's strategy above they have now finished the redevelopment of Bryn Llwyd Services in Bangor. This redevelopment has been undertaken during this financial year under review and was completed and fully reopened in May 2024. The site is looking fantastic and trading performance is well above expectations. The overall investment in the site has been in line with budget and expectations and has been entirely funded out of company reserves. Following the completion of this project the directors are now continuing to look for further opportunities to develop additional sites.

Review of the business

Turnover in 2025 has increased by £4.6m from the 2024 figure of £31.0m. This is largely due to Bryn Llwyd Services trading for the majority of this Financial Year. Whilst the company has maintained it's fuel price during the year to achieve a fair margin for it's products, many of it's competitors have changed their fuel pricing strategy following various ownership changes. The result of this has been that the business has been able to offer competitively priced fuel for the benefit of it's customers and the wider communities. This pricing has continued during the period since the year end.

The convenience store side of the business has also continued to develop on the back of this additional footfall and has allowed the business to keep developing this side of the business to provide more of the needs of its communities.

Principal risks and uncertainties

The directors have identified the following principal risks and uncertainties affecting the company:

Market Risk

The company is affected by the fuel pricing strategy of its competitors within each community that it operates. The competitors have changed their strategy as mentioned above, and this strategy has continued following this year-end under review. The directors appreciate, though, that at any time that change in strategy might change again, so are keen that the business fully utilises the opportunity that it has to fully develop and grow its total forecourt and convenience store offering.

LEWIS FORECOURTS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -

Legislative and Regulatory Risk

As the directors are well aware, the ongoing conflicts in Ukraine and the Middle East are having an impact on world supply of certain products and raw materials and are making sure through the various supply chains that good availability is maintained for the benefit of the business and its communities.

Other risks

The directors are also well aware of the current “cost of living” crisis in the UK and are working hard to ensure that the business is able to operate efficiently and therefore able to offer its goods and services at competitive prices. This pricing strategy has been maintained in this Year Under Review and also in the period since the Year End.

Lastly, as there has been a change in UK government during this year under review, the directors are well aware of further possible tax and duty changes that might be introduced by the new government and will base their operational decisions thereon to maximise the opportunities that might be available.

Key performance indicators

The company monitors its performance using a number of measures on a site-by-site basis. For the company overall, these include:

Measure | 2025 | 2024
Fuel Turnover | £30.0m | £25.9m
Shop Turnover | £5.5m | £5.1m
Fuel Margin | 7.0% | 7.3%
Shop Margin | 27.3% | 26.8%

The directors consider that these indicators show that while the business has shown continued strong growth in the year, they have tried to maintain offering and value for money to the local communities that they operate.

On behalf of the board

Mrs J Lewis
Director
17 November 2025
LEWIS FORECOURTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of petrol filling stations and convenience stores.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £296,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs J Lewis
Mr P Lewis
Future developments

Factors impacting the future developments of the company are included in the strategic report.

Auditor

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.

MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mrs J Lewis
Director
17 November 2025
LEWIS FORECOURTS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

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

- select suitable accounting policies and then apply them consistently;

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

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

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

LEWIS FORECOURTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEWIS FORECOURTS LIMITED
- 5 -
Opinion

We have audited the financial statements of Lewis Forecourts Limited (the 'company') for the year ended 30 April 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 30 April 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 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 ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.

LEWIS FORECOURTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEWIS FORECOURTS LIMITED (CONTINUED)
- 6 -

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report and the directors' r eport.

Matters on which we are required to report by exception

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

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

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

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

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

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine 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 directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:

LEWIS FORECOURTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LEWIS FORECOURTS LIMITED (CONTINUED)
- 7 -

- Enquiries with management about any known or suspected instances of non-compliance with laws and regulations and fraud;

- Auditing the risk of fraud in revenue, including through sales transaction testing to provide comfort that revenue is completely and accurately stated in the financial statements;

- Reading correspondence and obtaining certification of compliance from required accreditations such as health and safety, council premises licencing, and petroleum storage;

- Reviewing board minutes; and

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

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 is available on the Financial Reporting Council’s website at: https://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 auditor's 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.

Jenny McCabe FCA
Senior Statutory Auditor
For and on behalf of MHA, Statutory Auditor
Preston, United Kingdom
18 November 2025
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
LEWIS FORECOURTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
35,567,477
31,024,317
Cost of sales
(31,902,461)
(27,799,876)
Gross profit
3,665,016
3,224,441
Administrative expenses
(2,530,492)
(2,201,354)
Other operating income
852
1,135
Operating profit
4
1,135,376
1,024,222
Interest receivable and similar income
7
8,280
16,121
Interest payable and similar expenses
8
(15,130)
(6,507)
Profit before taxation
1,128,526
1,033,836
Tax on profit
9
(272,587)
(269,396)
Profit for the financial year
855,939
764,440

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LEWIS FORECOURTS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
1,543,888
1,145,176
Current assets
Stocks
12
375,516
432,175
Debtors
13
86,104
38,994
Cash at bank and in hand
1,049,391
1,401,602
1,511,011
1,872,771
Creditors: amounts falling due within one year
14
(1,574,450)
(2,139,358)
Net current liabilities
(63,439)
(266,587)
Total assets less current liabilities
1,480,449
878,589
Creditors: amounts falling due after more than one year
15
(1,916)
(2,555)
Provisions for liabilities
Deferred tax liability
16
174,506
131,946
(174,506)
(131,946)
Net assets
1,304,027
744,088
Capital and reserves
Called up share capital
19
1,000
1,000
Profit and loss reserves
1,303,027
743,088
Total equity
1,304,027
744,088

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 November 2025 and are signed on its behalf by:
Mrs J Lewis
Director
Company registration number 03300914 (England and Wales)
LEWIS FORECOURTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2023
1,000
728,648
729,648
Year ended 30 April 2024:
Profit and total comprehensive income
-
764,440
764,440
Dividends
10
-
(750,000)
(750,000)
Balance at 30 April 2024
1,000
743,088
744,088
Year ended 30 April 2025:
Profit and total comprehensive income
-
855,939
855,939
Dividends
10
-
(296,000)
(296,000)
Balance at 30 April 2025
1,000
1,303,027
1,304,027
LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
1
Accounting policies
Company information

Lewis Forecourts Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bangor Road, Pentraeth, Anglesey, LL75 8AZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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

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

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

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

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Lewis Forecourt Holdings Limited. These consolidated financial statements are available from its registered office, Bangor Road, Pentraeth, Anglesey, LL75 8AZ.

1.2
Going concern

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

1.3
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.

LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 12 -

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

1.4
Tangible fixed assets

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

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

Leasehold improvements
Over 15 years
Plant and equipment
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance

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

1.5
Impairment of fixed assets

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

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 13 -
1.6
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 cost and replacement cost, adjusted where applicable for any loss of service potential.

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

1.7
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 borrowings in current liabilities.

1.8
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.

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.

LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -
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 paymen ts 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. A m ounts 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.

LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 15 -
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 s ubsequently 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 th r ough 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.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
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.

1.12
Retirement benefits

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

LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
2
Judgements and key sources of estimation uncertainty

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

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

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sales of goods
30,017,648
25,869,017
Dry stock
5,506,434
5,111,709
Post Office income
43,395
43,591
35,567,477
31,024,317
2025
2024
£
£
Other revenue
Interest income
8,280
16,121
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(1,675)
-
0
Fees payable to the company's auditor for the audit of the company's financial statements
23,000
21,500
Depreciation of owned tangible fixed assets
243,019
166,010
Profit on disposal of tangible fixed assets
(42,525)
(9,595)
LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 17 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management
3
3
Administration
4
3
Sales
50
47
Total
57
53

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,320,271
1,105,008
Social security costs
109,526
76,318
Pension costs
25,990
19,975
1,455,787
1,201,301
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
19,200
19,200
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
8,280
16,121
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
40
1,385
Other interest on financial liabilities
15,090
5,122
15,130
6,507
LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
230,027
251,186
Deferred tax
Origination and reversal of timing differences
42,560
18,210
Total tax charge
272,587
269,396

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,128,526
1,033,836
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
282,132
258,459
Tax effect of expenses that are not deductible in determining taxable profit
3,583
10,937
Deferred tax adjustments in respect of prior years
(8,503)
-
0
Proceeds in excess of cost on plant sold
(4,625)
-
0
Taxation charge for the year
272,587
269,396
10
Dividends
2025
2024
£
£
Final paid
296,000
750,000
LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
11
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2024
704,246
2,082,912
8,946
185,983
2,982,087
Additions
258,350
341,202
4,544
45,110
649,206
Disposals
-
0
(31,500)
-
0
-
0
(31,500)
At 30 April 2025
962,596
2,392,614
13,490
231,093
3,599,793
Depreciation and impairment
At 1 May 2024
26,406
1,696,979
6,050
107,476
1,836,911
Depreciation charged in the year
18,724
191,531
1,860
30,904
243,019
Eliminated in respect of disposals
-
0
(24,025)
-
0
-
0
(24,025)
At 30 April 2025
45,130
1,864,485
7,910
138,380
2,055,905
Carrying amount
At 30 April 2025
917,466
528,129
5,580
92,713
1,543,888
At 30 April 2024
677,840
385,933
2,896
78,507
1,145,176
12
Stocks
2025
2024
£
£
Finished goods and goods for resale
375,516
432,175
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
11,356
12,894
Other debtors
70,108
23,230
Prepayments and accrued income
4,640
2,870
86,104
38,994
LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 20 -
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Trade creditors
469,484
907,809
Amounts owed to group undertakings
565,970
706,631
Corporation tax
48,868
71,012
Other taxation and social security
130,193
78,051
Deferred income
17
639
852
Other creditors
286,135
310,964
Accruals
73,161
64,039
1,574,450
2,139,358
15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Deferred income
17
1,916
2,555
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
174,506
131,230
Short term timing differences
-
716
174,506
131,946
2025
Movements in the year:
£
Liability at 1 May 2024
131,946
Charge to profit or loss
42,560
Liability at 30 April 2025
174,506
LEWIS FORECOURTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 21 -
17
Deferred income
2025
2024
£
£
Other deferred income
2,555
3,407
Included in the financial statements as follows:
Current liabilities
639
852
Non-current liabilities
1,916
2,555
2,555
3,407
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
25,990
19,975

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
20
Related party transactions
Transactions with related parties

The company has chosen to claim exemption as per paragraph 33.1A of FRS 102 from disclosing transactions with fellow group companies that are wholly owned by another party in the group. This means that no disclosure has been made for transactions with the parent company.

2025
2024
Amounts due to related parties
£
£
Other related parties
286,134
310,966

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
70,108
23,230
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