REGISTERED NUMBER: 06098336 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

KARAN RETAIL LTD

Page

Company Information

1

Strategic Report

2

Report of the Director

7

Report of the Independent Auditors

9

Income Statement

13

Other Comprehensive Income

14

Balance Sheet

15

Statement of Changes in Equity

16

Cash Flow Statement

17

Notes to the Cash Flow Statement

18

Notes to the Financial Statements

20

DIRECTOR:

Mr S Suthakaran

SECRETARY:

Mrs K Suthakaran

REGISTERED OFFICE:

26 Newey Rd

Coventry

Warwickshire

CV2 5HA

REGISTERED NUMBER:

06098336 (England and Wales)

AUDITORS:

Param & Company Ltd

Chartered Certified Accountants

Statutory Auditors

44 - 50 The Broadway

Southall

Middlesex

UB1 1QB

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

REVIEW OF BUSINESS

Company Overview

The Company has reported the financial statements in accordance with the requirements of the Companies Act 2006. The Company's principal activity is fuel retailing and convenience store offering. The Company operates 41 sites branded Shell, BP, Valero and Green Energy located throughout the UK. Performance in the reporting period is in line with expectations and the Director is pleased with the reported results. The yearly Revaluation of assets assisted in the Shareholder's funds grow by 39% to £29.76m (2024: £21.36m).

Results Overview

Through challenging market conditions such as the Russia-Ukraine conflict and the tensions in the Middle East that contributed to fuel price volatility, the financial year has still recorded a profit with all sites positively contributing to the successful outturn. The company's strategic plan continues to focus on convenience store offering, investing in partnerships with Subway, Greggs and Fire Pizza and offer alternative fuels and sources of power to cater evolving customer demands. The Director continue to be vigilant of market conditions when assessing strategic planning and decision making and growth opportunities in additional acquisitions are prudently assessed. The Director is pleased to report that both the trading performance and profitability have been sustained and in line with budgets. The Director is pleased with the set of trading results which reflects the controls, high standards and hard-working ethic of the Karan Retail Team. Individual site performance is monitored daily of volume and margins and there are instant reactive and corrective actions in fuel prices where appropriate. All sites promote secure and safe convenient store environments and have continued to support their local communities by providing a friendly service. All have remained open throughout the year except where there has been planned upgrading site works. The health and safety of our operators, their staff and our customers continue to be of utmost concern and in our thoughts.

The financial results for the year to 31 March 2025 report revenues of £194.86m (2024 - £166.29m). The company made an operating profit of £8.43m (2024 - £8.36) and the decrease in the gross margin by 0.24% was due to price management. During the year, the operational focus was to maximise fuel and retail margins, allowing for local competitive pricing and this resulted in a fuel gross margin of 7.94% (2024 - 8.18%). Earnings before interest, tax, depreciation, and amortisation ('EBITDA') for the year was £10.11m (2024 - £9.87m) and the Director is satisfied that the necessary safeguards remain in place to minimise the effect of changes in oil prices. Management has further streamlined the supply chain and company procedures in order to effectively manage costs throughout the year.

Key performance indicators

2025 2024

Revenue £194,862,442 £166,293,687

Gross profit £15,470,492 £13,596,134

Gross profit margin 7.94% 8.18%

EBITDA £10,113,780 £9,870,213

Profit before tax £5,685,043 £6,646,031

Cash has increased from £2.25m (March 2024) to £4.11m (March 2025) and it is the continued Director policy to ensure retained cash reserves are held to meet current liabilities. During this financial period, the company has used third-party finance for acquisitions. Trade creditors have increased by £1.3m over the same period and stocks increased by £0.59m due to changes in cost price. Karan Retail Ltd has continued its commitment to introducing and maintaining the latest plant and equipment and upgrading fixtures and fittings. All Capex considerations are discussed at Board level. Any new Capex is reviewed alongside the financial covenants attached to the Company to ensure these are met. All Corporation Tax are paid in full and there were no investigations during the year and none pending.

During the year, management has undertaken the following initiatives to improve the business performance and effectively utilize its asset base and capital:

*Establishing an effective operational management team by providing clear direction, reporting lines, responsibilities and accountabilities.

*The working shift pattern of all retail staff has been changed to be consistent across all sites aiming to increase efficiency.

*Clear targets for each business area identified and communicated and a formal staff appraisal process was identified, documented and put into place. This has resulted in significantly enhanced staff engagement leading to local and business wide efficiency, margin and cost improvement initiatives.

Going concern

The Director is confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the Director continually review the Company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the Company would not be able to continue successfully as a Going Concern in the future.

Objectives and Strategy

The Company's purpose is to provide a high-quality service for its customers. The aim is to make their forecourt experience a pleasant one leading to customer retention with repeat visits. The Company provides high quality petrol brands and has a well-established shop supplier chain and network contributing to the offering. The Director has continued to work within this reporting financial period to constantly improve the customer value proposition reacting to changing needs and buying habits where appropriate. The Director together with the Area managers seek the views of the individual site Commission Operators enabling and empowering them to achieve these strategic goals. All acquisition opportunities are analysed thoroughly to ensure that they provide value for the company and is in line with the strategic direction of company. Bottom line profit is the key driver in all decisions as well as the offering to our customers and the non-fuel income lines will continue to grow as the company enhances the network through its ongoing development programme. The Director is aware of the Government EV targets and timescales and these are constantly reviewed within Capex budget considerations alongside other areas of expenditure.

The business subsequently traded ahead of all forecasts and expectations and the company intends to generate future revenue by:

* Implementing strategies to improve the Return on Capital Employed by more effective property asset utilisation. Discussions are currently ongoing with a number of service providers to operate on specific sites.

* Procurement efficiencies to deliver an improvement to the retail gross margins of an average of 2% have been targeted for the next 3 years.

* Looking to achieve synergies and economy of scale by targeting the acquisition of further sites.

* Identifying and investing in appropriate IT Infrastructure to enhance business efficiency and business intelligence.

* Capex investment in forecourt improvements and branding.

* Securing new fuel and shop supply agreements over the next 12 months.

IT Systems

IT technology has further been enhanced during the reporting period and technological advancement is a priority for Karan Retail Ltd.

Responsibility Matters

The Director is aware of the business, social and community responsibilities. Karan Retail Ltd maintains the highest levels of ethics and integrity and these are key principles throughout the whole company. The KRL Team is experienced and staff retention remains high. We leave responsibility with the people at the level where it can be best exercised.

PRINCIPAL RISKS AND UNCERTAINTIES

The director continually assess and evaluate the main risks to the company achieving its business objectives and the significant risks are identified below.

Environmental and regulatory matters

The Company acknowledges its responsibility on all environmental matters. Environmental disclosure and compliance have an increased focus, and the Company fully supports the recommendations of the Financial Stability Board Task Force on climate impacts. Environmental contamination continues to have a main focus, and the risks are mitigated through strict monitoring in all aspects of the forecourt operation. Internal policies and procedures are in place to minimise the risks of environmental contamination and to deal with such incidents should they occur. In the UK fuel retailing sector, there has been a consolidation and modernisation of key competitors with the focus on several factors of the core business.

*Fuel Brands - The Company continues to partner with Shell, BP and Valero which are considered strong and well-known recognised fuel brands. Using these brands continue to attract consumers to the sites and Karan Retail invests in promotions and branding to remain competitive.

*Shop Brands - Recognised shop brands are featured within the convenient stores. Partnering with recognised brand names with their promotional offers helps drive forecourt footfall. *Competitive Pricing - KRL monitors pricing on a daily basis reacting to external competitor prices and its own purchasing requirements. Local pricing is sensitively considered on an individual location basis.

*Non-Fuel Offering - The convenience food offering has greatly increased and KRL has reacted to the consumer changing buying habits. Products and services are tailored to location based upon the local community the site serves.

*Locations - Local population, demographics, ease of access are all considerations when determining any acquisition. KRL operates in various types of locations - urban, residential, urban transient, trunk road transient, and urban commercial are the main focus for the Company.

Board meetings

Regular Board meetings and management meetings are held to discuss financial results, budgetary planning and other key areas of focus for the Company which require approval before implementation such as future Capex, Bank facilities and any significant changes in the Company operation. These meetings are scheduled for the Director and Senior Staff members and all are expected to attend. Agenda items are circulated prior to each meeting and minutes are taken and recorded with any action points arising.

Decision making

Resulting from Board meetings, decisions are made by the Director who unanimously agree on the Company strategy and financial expenditure. Business cases are presented to the Board for agreement. These business cases are expected to have considered the business stakeholders as part of the proposal and to achieve this, engagement with stakeholders is pivotal to understand their requirements. Recognizing that Karan Retail Limited is a family business intended for future generations, the Director has focused on sustainable growth and modernization of the forecourt operations.

Competition and economic environment

The company continues to operate in a very competitive market. The director address competitive matters by continual review of pricing strategies and by regularly reviewing the retailing offering at the company's petrol station forecourts. This is reviewed in regular board and other meetings.

Financial instruments

Details on the use of financial instruments by the company is contained in note 19 to the financial statements.

DIRECTORS' DUTIES: SECTION 172

Section 172 of the Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard, amongst other matters, to the following:

a) Likely consequences of any decisions in the long-term;

b) Interests of the company's employees;

c) Need to foster the company's business relationships with suppliers, customers and others;

d) Impact of the company's operations on the community and environment;

e) Desirability of the company to maintain a reputation for high standards of business conduct; and

f) Need to act fairly as between members of the company.

The following summarise how the director fulfill his duties in line with the requirements of section 172:

As the sole director of Karan Retail Limited, a forecourt operator, I, Mr. Suthakaran, have acted in accordance with my duties under section 172 of the Companies Act 2006. In making decisions for the company, I have considered both its immediate and long-term success, as well as the impact on key stakeholders and the environment.

Culture

The company remains in full control and ownership of Mr. Suthakaran. The board consider all employees as extended family and the cultural ethos is driven not only by the board members but by the employees who take pride in working for the company. This is reflected in open dialogues for considering best work practices.

Key Stakeholder Considerations

Employees

Regular communication with our staff has been maintained to ensure fair working conditions and opportunities for development through training and engagement. The company continued to invest in employee well-being and engagement and treat one another with respect and dignity and are an equal opportunity employee.

Customers

KRL has invested in improving the forecourt services and product offerings to meet evolving customer needs.

Suppliers

Strong relationships with fuel and convenience store suppliers have been maintained to ensure quality and competitive pricing.

Community and Environment

The company has taken steps to reduce our environmental impact and support local community initiatives. Business Conduct Efforts have been made to uphold high standards of business conduct and maintain our reputation in the local community.

Fair and Equal Treatment

I have ensured that all persons, including employees, customers, and suppliers, are treated fairly and equally, without discrimination, in all aspects of our business operations. By considering these factors, I believe, I have acted in the best interests of the company, its future, and its wider stakeholders.

Climate Change and Transition to a Lower-carbon Economy

As a forecourt operator, Karan Retail Limited faces significant challenges due to the global shift towards a lower carbon economy. The increasing adoption of electric vehicles and alternative fuels is reshaping our industry, potentially reducing demand for traditional fossil fuels. Stricter environmental regulations and changing consumer preferences for sustainable options further compound these challenges, posing a risk to our current revenue streams. The company remains aware of changing industry and consumer trends and operates an agile business model which is committed to being environmentally responsible, positively managing our impact on the environment. Significant investment in our non-fuel offering is a cornerstone of the Company's long-term diversification strategy. A significant and increasing, proportion of the Company's gross profits would be converted into non-fuel sales such as partnerships with Subway, Greggs and Fire Pizza over the next ten years. In developing a well-invested network of sites, the Company's focus is on developing multi-use retail sites that are well placed to adapt and evolve beyond a traditional fuel offering to cater for changing customer demands for convenience retail as well as new motor vehicle fuel sources, such as alternative fuels and sources of power. Additionally, three of our sites have implemented solar panels for energy generation, demonstrating our commitment to sustainable practices and reducing our carbon footprint.

ON BEHALF OF THE BOARD:

Mr S Suthakaran - Director

30 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of fuel retailing and convenience store offering.

DIVIDENDS

No interim dividend was paid during the year. The director recommends a final dividend of £1249 per share.

The total distribution of dividends for the year ended 31 March 2025 will be £ 124,948 .

EVENTS SINCE THE END OF THE YEAR

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

DIRECTOR

Mr S Suthakaran held office during the whole of the period from 1 April 2024 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

No political donations.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Param & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S Suthakaran - Director

30 December 2025

Opinion

We have audited the financial statements of Karan Retail Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of director

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

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

Auditors' responsibilities for the audit of the financial statements

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

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

* the engagement partner ensured that the engagement team collectively had the appropriate competence,capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

* we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of service station.

* 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, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

* we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

* identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

* making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

* considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

* performed analytical procedures to identify any unusual or unexpected relationships;

*tested journal entries to identify unusual transactions;

*assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

*investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

*agreeing financial statement disclosures to underlying supporting documentation;

*reading the minutes of meetings of those charged with governance;

*enquiring of management as to actual and potential litigation and claims; and

*reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

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.

S Paramaguru (FCCA) (Senior Statutory Auditor)

for and on behalf of Param & Company Ltd

Chartered Certified Accountants

Statutory Auditors

44 - 50 The Broadway

Southall

Middlesex

UB1 1QB

30 December 2025

TURNOVER

194,862,442

166,293,687

Cost of sales

179,391,950

152,697,553

GROSS PROFIT

15,470,492

13,596,134

Administrative expenses

9,458,158

7,189,463

6,012,334

6,406,671

Other operating income

2,416,255

1,951,615

OPERATING PROFIT

5

8,428,589

8,358,286

Interest receivable and similar income

55,420

85,254

8,484,009

8,443,540

Interest payable and similar expenses

6

2,798,966

1,797,509

PROFIT BEFORE TAXATION

5,685,043

6,646,031

Tax on profit

7

1,557,676

1,442,404

PROFIT FOR THE FINANCIAL YEAR

4,127,367

5,203,627

PROFIT FOR THE YEAR

4,127,367

5,203,627

OTHER COMPREHENSIVE INCOME

Fair value reserve

5,790,031

4,960,176

Income tax relating to other comprehensive income

(1,384,850

)

(1,518,880

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

4,405,181

3,441,296

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

8,532,548

8,644,923

FIXED ASSETS

Intangible assets

9

2,712,096

1,860,333

Tangible assets

10

68,140,849

50,826,451

Investments

11

375,200

200

71,228,145

52,686,984

CURRENT ASSETS

Stocks

12

3,167,955

2,576,110

Debtors

13

6,449,348

6,600,641

Cash at bank and in hand

4,108,765

2,250,344

13,726,068

11,427,095

CREDITORS

Amounts falling due within one year

14

19,883,458

17,858,600

NET CURRENT LIABILITIES

(6,157,390

)

(6,431,505

)

TOTAL ASSETS LESS CURRENT LIABILITIES

65,070,755

46,255,479

CREDITORS

Amounts falling due after more than one year

15

(29,981,755

)

(21,023,784

)

PROVISIONS FOR LIABILITIES

20

(5,320,949

)

(3,871,244

)

NET ASSETS

29,768,051

21,360,451

CAPITAL AND RESERVES

Called up share capital

21

100

100

Fair value reserve

22

15,165,599

10,760,418

Retained earnings

22

14,602,352

10,599,933

SHAREHOLDERS' FUNDS

29,768,051

21,360,451

The financial statements were approved by the director and authorised for issue on 30 December 2025 and were signed by:

Mr S Suthakaran - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

100

5,463,825

7,347,294

12,811,219

Changes in equity

Dividends

-

(95,691

)

-

(95,691

)

Total comprehensive income

-

5,231,799

3,413,124

8,644,923

Balance at 31 March 2024

100

10,599,933

10,760,418

21,360,451

Changes in equity

Dividends

-

(124,948

)

-

(124,948

)

Total comprehensive income

-

4,127,367

4,405,181

8,532,548

Balance at 31 March 2025

100

14,602,352

15,165,599

29,768,051

Cash flows from operating activities

Cash generated from operations

1

10,913,347

10,024,772

Interest paid

(2,319,448

)

(1,583,862

)

Interest element of finance lease payments paid

(479,518

)

(213,647

)

Tax paid

(1,238,253

)

(493,514

)

Net cash from operating activities

6,876,128

7,733,749

Cash flows from investing activities

Purchase of intangible fixed assets

(1,156,500

)

(1,180,000

)

Purchase of tangible fixed assets

(12,849,402

)

(12,749,942

)

Purchase of fixed asset investments

(2,339,993

)

-

Sale of tangible fixed assets

-

2,590,715

Sale of fixed asset investments

1,964,993

-

Interest received

55,420

85,254

Net cash from investing activities

(14,325,482

)

(11,253,973

)

Cash flows from financing activities

New loans in year

10,000,000

6,000,000

Loan repayments in year

(1,480,000

)

(1,110,000

)

New finance leases (Repayments) in year

515,318

679,964

Associate company received/(payment)

465,109

(345,248

)

Equity dividends paid

(124,948

)

(95,691

)

Net cash from financing activities

9,375,479

5,129,025

Increase in cash and cash equivalents

1,926,125

1,608,801

Cash and cash equivalents at beginning of year

2

1,632,774

23,973

Cash and cash equivalents at end of year

2

3,558,899

1,632,774

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

2025

2024

£

£

Profit before taxation

5,685,043

6,646,031

Depreciation charges

1,629,771

1,062,003

Profit on disposal of fixed assets

-

(740,715

)

Gain on revaluation of fixed assets

-

(1,119,824

)

Finance costs

2,798,966

1,797,509

Finance income

(55,420

)

(85,254

)

10,058,360

7,559,750

Increase in stocks

(591,845

)

(451,910

)

Increase in trade and other debtors

(384,916

)

(1,705,980

)

Increase in trade and other creditors

1,831,748

4,622,912

Cash generated from operations

10,913,347

10,024,772

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

4,108,765

2,250,344

Bank overdrafts

(549,866

)

(617,570

)

3,558,899

1,632,774

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,250,344

641,167

Bank overdrafts

(617,570

)

(617,194

)

1,632,774

23,973

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,250,344

1,858,421

4,108,765

Bank overdrafts

(617,570

)

67,704

(549,866

)

1,632,774

1,926,125

3,558,899

Debt

Finance leases

(2,612,736

)

(515,318

)

(3,128,054

)

Debts falling due within 1 year

(1,480,000

)

-

(1,480,000

)

Debts falling due after 1 year

(19,410,000

)

(8,520,000

)

(27,930,000

)

(23,502,736

)

(9,035,318

)

(32,538,054

)

Total

(21,869,962

)

(7,109,193

)

(28,979,155

)

1.	STATUTORY INFORMATION

Karan Retail Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The Director is confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the Director continually review the Company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the Company would not be able to continue successfully as a Going Concern in the future.

Turnover

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

Sale of goods

Revenue is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, it is probable that economic benefits will flow to the Company, the associated costs can be measured reliably, there is no continuing managerial involvement with the goods, and the amount of revenue can be measured reliably. Due to the nature of the products sold, the Company does not experience material levels of returns.

The treatment of fuel duty in the UK is determined by local laws and regulations as to when the duty becomes legally payable and who carried the risks and obligations to the tax authorities.

The Company recognises revenue gross of fuel duty as the obligation to pay the duty is at purchase from the supplier, therefore the Company's role in the transaction is that of principal. The fuel duty is set and payable at this point and the risk of recovering this element of the cost through the sale of fuel to the end customer lies with the Company.