Company registration number 02590491 (England and Wales)
PAR PETROLEUM LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAR PETROLEUM LIMITED
COMPANY INFORMATION
Directors
Mr P. Roy-Toole
Mrs C. Roy-Toole
Mrs L.R. Hardy
Mr S Hardy
Company number
02590491
Registered office
Par House
Woodstone Village Industrial Estate
Fencehouses
Houghton-le-Spring
Co Durham
DH4 6DU
Auditor
S&W Audit
17 Queens Lane
Newcastle Upon Tyne
NE1 1RN
PAR PETROLEUM LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Company statement of cash flows
15
Notes to the financial statements
16 - 31
PAR PETROLEUM LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

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

Principal activities

The principal activity of the company and group continued to be that of haulage , sale of petroleum , oils and lubricants.

Review of the business

During the year turnover for the group fell 3% , the volume of petroleum sales remained similar to 2024 and is explained by a general reduction in the price of fuels.

Gross Profit % achieved was 12.48% (12.29% 2024)

The directors consider this is a satisfactory performance given the volatile petroleum market.

Principal risks and uncertainties

The general move to cleaner energy sources is a risk to the group.The directors have decided to mitigate some of this risk by purchasing investment properties to provide an additional income stream.

Sales of petroleum products are seasonal , the level of demand can be dictated by the weather, particularly during the winter months.

Political Risk and International factors - New government policies could impact future development and also impact the supply chain , the uneven nature of global crude production is part of what makes the price of oil and gas so volatile.

Debtors - The group maintains strong relationships with its key customers through it sales team , the risk of bad debts is mitigated by credit insurance.

Environmental risk - The group places considerable emphasis on environmental compliance and regularly reviews on-going compliance.

Key performance indicators

The key performance indicators for the group are :

Volume of sales , The directors monitor sales volume through its IT systems on a daily basis.

Gross Profit Margin , The directors monitor live wholesale prices on a daily basis to ensure gross profit margins are reviewed regularly.

2025 GP% 12.48% (2024 GPM 12.29%).

Other information and explanations

Growth in the UK economy is uncertain , it is unclear what impact the increases in inflation and interest rates will have on demand for goods and services.

The company continues to invest in it's motor fleet and it's IT systems to drive operational efficiencies and to improve the customer experience.

PAR PETROLEUM LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -

On behalf of the board

Mr P. Roy-Toole
Director
20 February 2026
PAR PETROLEUM LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

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

Results and dividends

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

Ordinary dividends were paid amounting to £300,507. 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:

Mr P. Roy-Toole
Mrs C. Roy-Toole
Mr S.R. Toole
(Deceased 15 December 2025)
Mrs L.R. Hardy
Mr S Hardy

After the year end, Mr S. Roy Toole, a director of the company, sadly passed away on 15th December 2025. The board wishes to record its appreciation for his contribution to the company.

Auditor

The auditor, S&W Audit, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

As the group has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

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 auditor of the company 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 auditor of the company is aware of that information.

On behalf of the board
Mr P. Roy-Toole
Director
20 February 2026
PAR PETROLEUM LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 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 group and company, and of the profit or loss of the group 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;

- state whether applicable UK 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PAR PETROLEUM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PAR PETROLEUM LIMITED
- 5 -
Opinion

We have audited the financial statements of Par Petroleum Limited (the ‘parent company’) and its subsidiaries (the ‘group’) for the year ended 30 June 2025 which comprise Par Petroleum Limited, Par Fuels Limited, Hawthorn Estates North East Limited and Petroleum Fleet Services Limited and the 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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice)

In our opinion the financial statements:

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

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 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 group's and 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 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- T he 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.

PAR PETROLEUM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PAR PETROLEUM LIMITED
- 6 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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 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 directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the 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's responsibilities for the audit of the financial statements

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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

We obtained a general understanding of the company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company’s industry and regulation. We obtained this understanding of significant components, through discussions with company’s management.

We understand that the company complies with the framework through:

- The director’s close involvement in the day-to-day running of the business, meaning that any litigation or claims would come to their attention directly.

- Updating operating procedures and internal controls as legal and regulatory requirements change.

In the context of the audit, we consider those laws and regulations which determine the form and content of the financial statements, which are central to the company’s ability to conduct its business, and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements.

PAR PETROLEUM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PAR PETROLEUM LIMITED
- 7 -

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

- Confirming with the directors and management whether there has been any knowledge or suspicion of fraud

- Obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.

- We obtained written management representations that they have disclosed to us all known instances of non-compliance or suspected non-compliance with laws and regulations and accounted for and disclosed all known actual or potential litigation and claims in the financial statements and that the procedures in place to ensure compliance with relevant laws and regulations are adequate.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:

- Manipulation of the financial statements via management overriding controls.

- The risk that income may be fraudulently recognised in the incorrect accounting period.

The procedures we carried out to gain evidence in the above areas included:

- Assessing the risk of management override including identifying and testing a sample of journal entries against client specific risk criteria using data analytics.

- Selected a sample of revenue transactions, agreeing the revenue to supporting documentation and to the bank statements to ensure they are correct to be recognised.

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify or recognise irregularities.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Scarr
Senior Statutory Auditor , for and on behalf of
24 February 2026
S&W Audit
Statutory Auditor
Chartered Accountants
17 Queens Lane
Newcastle Upon Tyne
NE1 1RN
PAR PETROLEUM LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
48,507,277
50,014,975
Cost of sales
(42,454,825)
(43,866,833)
Gross profit
6,052,452
6,148,142
Administrative expenses
(5,596,121)
(5,732,917)
Other operating income
26,833
3,029
Operating profit
4
483,164
418,254
Interest receivable and similar income
8
32,417
45,341
Interest payable and similar expenses
9
(94,282)
(57,298)
Profit before taxation
421,299
406,297
Tax on profit
10
(50,983)
(176,789)
Profit for the financial year
370,316
229,508
Profit for the financial year is all attributable to the owners of the parent company.
PAR PETROLEUM LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
2025
2024
£
£
Profit for the year
370,316
229,508
Other comprehensive income
-
-
Total comprehensive income for the year
370,316
229,508
Total comprehensive income for the year is all attributable to the owners of the parent company.
PAR PETROLEUM LIMITED
GROUP BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
3,465,118
2,507,701
Investment property
13
932,896
932,896
4,398,014
3,440,597
Current assets
Stocks
16
349,877
370,426
Debtors
17
5,531,810
4,668,462
Cash at bank and in hand
498,730
1,398,502
6,380,417
6,437,390
Creditors: amounts falling due within one year
18
(6,190,655)
(5,678,941)
Net current assets
189,762
758,449
Total assets less current liabilities
4,587,776
4,199,046
Creditors: amounts falling due after more than one year
19
(711,934)
(443,996)
Provisions for liabilities
Deferred tax liability
21
662,192
611,209
(662,192)
(611,209)
Net assets
3,213,650
3,143,841
Capital and reserves
Called up share capital
24
48,000
48,000
Profit and loss reserves
3,165,650
3,095,841
Total equity
3,213,650
3,143,841
The financial statements were approved by the board of directors and authorised for issue on 20 February 2026 and are signed on its behalf by:
20 February 2026
Mr P. Roy-Toole
Director
Company registration number 02590491 (England and Wales)
PAR PETROLEUM LIMITED
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
3,435,255
2,467,456
Investments
14
102
102
3,435,357
2,467,558
Current assets
Stocks
16
322,619
338,969
Debtors
17
5,649,090
4,893,342
Cash at bank and in hand
184,498
1,022,891
6,156,207
6,255,202
Creditors: amounts falling due within one year
18
(6,016,189)
(5,524,764)
Net current assets
140,018
730,438
Total assets less current liabilities
3,575,375
3,197,996
Creditors: amounts falling due after more than one year
19
(724,809)
(443,996)
Provisions for liabilities
Deferred tax liability
21
654,726
601,597
(654,726)
(601,597)
Net assets
2,195,840
2,152,403
Capital and reserves
Called up share capital
24
48,000
48,000
Profit and loss reserves
2,147,840
2,104,403
Total equity
2,195,840
2,152,403

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £343,943 (2024 - £190,760 profit).

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 20 February 2026 and are signed on its behalf by:
20 February 2026
Mr P. Roy-Toole
Director
Company registration number 02590491 (England and Wales)
PAR PETROLEUM LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
48,000
3,170,813
3,218,813
Year ended 30 June 2024:
Profit and total comprehensive income
-
229,508
229,508
Dividends
11
-
(304,480)
(304,480)
Balance at 30 June 2024
48,000
3,095,841
3,143,841
Year ended 30 June 2025:
Profit and total comprehensive income
-
370,316
370,316
Dividends
11
-
(300,507)
(300,507)
Balance at 30 June 2025
48,000
3,165,650
3,213,650
PAR PETROLEUM LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 13 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2023
48,000
2,218,123
2,266,123
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
190,760
190,760
Dividends
11
-
(304,480)
(304,480)
Balance at 30 June 2024
48,000
2,104,403
2,152,403
Year ended 30 June 2025:
Profit and total comprehensive income
-
343,944
343,944
Dividends
11
-
(300,507)
(300,507)
Balance at 30 June 2025
48,000
2,147,840
2,195,840
PAR PETROLEUM LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
803,542
1,069,175
Interest paid
(94,282)
(57,298)
Income taxes (paid)/refunded
(179,135)
90,538
Net cash inflow from operating activities
530,125
1,102,415
Investing activities
Purchase of tangible fixed assets
(1,748,128)
(390,704)
Proceeds from disposal of tangible fixed assets
87,231
62,500
Interest received
32,417
45,341
Net cash used in investing activities
(1,628,480)
(282,863)
Financing activities
Payment of finance leases obligations
499,090
(347,927)
Dividends paid to equity shareholders
(300,507)
(304,480)
Net cash generated from/(used in) financing activities
198,583
(652,407)
Net (decrease)/increase in cash and cash equivalents
(899,772)
167,145
Cash and cash equivalents at beginning of year
1,398,502
1,231,357
Cash and cash equivalents at end of year
498,730
1,398,502
PAR PETROLEUM LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
854,312
983,041
Interest paid
(94,282)
(57,298)
Income taxes (paid)/refunded
(160,678)
103,080
Net cash inflow from operating activities
599,352
1,028,823
Investing activities
Purchase of tangible fixed assets
(1,747,133)
(390,704)
Proceeds from disposal of tangible fixed assets
87,231
62,500
Repayment of loans
43
-
0
Interest received
23,531
39,597
Net cash used in investing activities
(1,636,328)
(288,607)
Financing activities
Payment of finance leases obligations
499,090
(347,927)
Dividends paid to equity shareholders
(300,507)
(304,480)
Net cash generated from/(used in) financing activities
198,583
(652,407)
Net (decrease)/increase in cash and cash equivalents
(838,393)
87,809
Cash and cash equivalents at beginning of year
1,022,891
935,082
Cash and cash equivalents at end of year
184,498
1,022,891
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 16 -
1
Accounting policies
Company information

Par Petroleum Limited (“the company”) is a private company limited by shares and incorporated in England and Wales. The registered office is Par House, Woodstone Village Industrial Estate, Fencehouses, Houghton-le-Spring, Co Durham, DH4 6DU.

The group consists of Par Petroleum Limited and all of its subsidiaries.

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, [modified to include the revaluation of freehold properties at fair value]. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Par Petroleum Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 30 June 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 17 -
1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group 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.

1.5
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 financing arrangement, 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.

1.6
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:

Freehold land and buildings
Straight Line over 50 years
Plant and equipment
10% Reducing balance
Fixtures and fittings
10% Reducing balance
Motor vehicles
25% and 40% 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 recognised in the profit and loss account.

1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 18 -
1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible 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.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

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.

1.10
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.

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.

1.11
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.

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 19 -
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 m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

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

Impairment of financial assets

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

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

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

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group 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 group 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. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 20 -
Other financial liabilities

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

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value 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 group's contractual obligations expire or are discharged or cancelled.

1.12
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 group’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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
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.

PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 21 -
1.14
Retirement benefits

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

1.15
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.16
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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
Petroleum sales
48,122,638
49,611,172
Servicing sales
361,839
381,003
Investment property rents
22,800
22,800
48,507,277
50,014,975
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
3
Turnover and other revenue
(Continued)
- 22 -
2025
2024
£
£
Turnover analysed by geographical market
UK
48,507,277
50,014,975
2025
2024
£
£
Other revenue
Interest income
32,417
45,341
Grants received
-
500
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange (gains)/losses
(89)
88
Government grants
-
(500)
Depreciation of owned tangible fixed assets
719,899
627,465
Profit on disposal of tangible fixed assets
(16,419)
(23,383)
Operating lease charges
24,190
19,842
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
21,560
20,000
6
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
40
38
10
9
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
6
Employees
(Continued)
- 23 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
2,294,394
2,146,526
2,298,090
2,136,466
Social security costs
279,692
247,218
96,324
104,298
Pension costs
44,444
218,251
7,723
195,026
2,618,530
2,611,995
2,402,137
2,435,790
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
628,903
735,369
Company pension contributions to defined contribution schemes
3,194
191,194
632,097
926,563
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
192,093
289,309
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
27,768
38,762
Other interest income
4,649
6,579
Total income
32,417
45,341
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
27,768
38,762
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 24 -
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
94,282
57,242
Other interest
-
56
Total finance costs
94,282
57,298
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
179,135
Deferred tax
Origination and reversal of timing differences
50,983
(2,346)
Total tax charge
50,983
176,789

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
421,299
406,297
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
105,325
101,574
Tax effect of expenses that are not deductible in determining taxable profit
6,750
7,782
Unutilised tax losses carried forward
127,888
2,856
Effect of change in corporation tax rate
951
(492)
Permanent capital allowances in excess of depreciation
(242,888)
65,938
Depreciation on assets not qualifying for tax allowances
1,974
1,974
Deferred tax adjustments in respect of prior years
50,983
(2,346)
Marginal relief
-
0
(497)
Taxation charge
50,983
176,789
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
300,507
304,480
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 25 -
12
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
394,770
392,352
258,026
4,888,461
5,933,609
Additions
-
0
199,292
-
0
1,548,836
1,748,128
Disposals
-
0
-
0
-
0
(604,724)
(604,724)
At 30 June 2025
394,770
591,644
258,026
5,832,573
7,077,013
Depreciation and impairment
At 1 July 2024
130,411
275,221
201,459
2,818,817
3,425,908
Depreciation charged in the year
7,895
26,370
5,657
679,977
719,899
Eliminated in respect of disposals
-
0
-
0
-
0
(533,912)
(533,912)
At 30 June 2025
138,306
301,591
207,116
2,964,882
3,611,895
Carrying amount
At 30 June 2025
256,464
290,053
50,910
2,867,691
3,465,118
At 30 June 2024
264,359
117,131
56,567
2,069,644
2,507,701
Company
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2024
394,770
382,142
229,729
4,739,952
5,746,593
Additions
-
0
198,297
-
0
1,548,836
1,747,133
Disposals
-
0
-
0
-
0
(523,814)
(523,814)
At 30 June 2025
394,770
580,439
229,729
5,764,974
6,969,912
Depreciation and impairment
At 1 July 2024
130,411
266,707
173,162
2,708,857
3,279,137
Depreciation charged in the year
7,895
25,981
5,657
670,790
710,323
Eliminated in respect of disposals
-
0
-
0
-
0
(454,803)
(454,803)
At 30 June 2025
138,306
292,688
178,819
2,924,844
3,534,657
Carrying amount
At 30 June 2025
256,464
287,751
50,910
2,840,130
3,435,255
At 30 June 2024
264,359
115,435
56,567
2,031,095
2,467,456
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 26 -
13
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 July 2024 and 30 June 2025
932,896
-

The fair value of the investment properties has been arrived at on a cost basis , which includes the purchase cost and any directly attributable expenditure.

The directors consider this to be the open market value by reference to market evidence of transaction prices for similar properties.

14
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
102
102

Subsidiary audit exemption

Par Fuels Limited, Petroleum Fleet Services Limited and Hawthorn Estates North East Limited have taken advantage of the audit exemption set out within section 479A of the Companies Act 2006 for the year ended 31 March 2025. The company will guarantee the debts and liabilities of the subsidiary undertaking at the balance sheet date in accordance with section 479C of the Companies Act 2006. The company has assessed the probability of loss under the guarantee as remote.

.

Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2024 and 30 June 2025
102
Carrying amount
At 30 June 2025
102
At 30 June 2024
102
15
Subsidiaries

Details of the company's subsidiaries at 30 June 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
PAR Fuels Limited
England & Wales
Ordinary
100.00
Petroleum Fleet Services limited
England & Wales
Ordinary
100.00
Hawthorn Estates North East Limited
England & Wales
Ordinary
100.00
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 27 -
16
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
349,877
370,426
322,619
338,969
17
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
5,180,209
4,250,111
5,089,672
4,186,899
Unpaid share capital
100
100
-
0
-
0
Other debtors
90,743
128,096
107,829
145,299
Prepayments and accrued income
260,758
290,155
252,089
282,424
5,531,810
4,668,462
5,449,590
4,614,622
Amounts falling due after more than one year:
Amounts owed by group undertakings
-
-
199,500
278,720
Total debtors
5,531,810
4,668,462
5,649,090
4,893,342
18
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
20
772,064
566,512
772,064
566,512
Trade creditors
4,929,189
4,345,223
4,940,893
4,353,373
Corporation tax payable
-
0
179,135
-
0
160,678
Other taxation and social security
191,071
94,988
85,953
12,735
Other creditors
27,042
2,097
1,357
-
0
Accruals and deferred income
271,289
490,986
215,922
431,466
6,190,655
5,678,941
6,016,189
5,524,764
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 28 -
19
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
20
711,934
418,396
711,934
418,396
Amounts owed to group undertakings
-
0
-
0
12,875
-
0
Deferred income
22
-
0
25,600
-
0
25,600
711,934
443,996
724,809
443,996
20
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
772,064
566,512
772,064
566,512
In two to five years
711,934
418,396
711,934
418,396
1,483,998
984,908
1,483,998
984,908

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

The total amount recognised as an expense in the year in respect of operating lease payments was £24,190 (2024: £19,842).”

21
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
790,080
611,209
Tax losses
(127,888)
-
662,192
611,209
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
21
Deferred taxation
(Continued)
- 29 -
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
782,614
601,597
Tax losses
(127,888)
-
654,726
601,597
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 July 2024
611,209
601,597
Charge to profit or loss
50,983
53,129
Liability at 30 June 2025
662,192
654,726

T he deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

22
Deferred income
Group
Company
2025
2024
2025
2024
£
£
£
£
Other deferred income
-
25,600
-
25,600
23
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
44,444
218,251

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

24
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
48,000
48,000
48,000
48,000
PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 30 -
25
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
43,955
25,947
43,955
25,947
43,955
25,947
43,955
25,947
26
Related party transactions
Transactions with related parties

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

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Group
Quay Energy Solutions Ltd
466,250
315,568
1,593,064
8,735
The Great British Ground Screw Company Ltd
30,736
41,841
-
-

All transactions with related parties were undertaken on normal commercial terms and at arm’s‑length. Settlement took place in accordance with standard credit terms.

27
Non‑adjusting event after the reporting period

On 15th December 2025 , Mr Simon Roy Toole, a director of the company, passed away. This event occurred after the reporting date and does not provide evidence of conditions that existed at that date. Accordingly, no adjustment has been made to the financial statements. The company is in the process of updating statutory records and directorship filings.

PAR PETROLEUM LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 31 -
28
Cash generated from group operations
2025
2024
£
£
Profit after taxation
370,316
229,508
Adjustments for:
Taxation charged
50,983
176,789
Finance costs
94,282
57,298
Investment income
(32,417)
(45,341)
Gain on disposal of tangible fixed assets
(16,419)
(23,383)
Depreciation and impairment of tangible fixed assets
719,899
627,465
Movements in working capital:
Decrease/(increase) in stocks
20,549
(47,211)
Increase in debtors
(863,348)
(738,898)
Increase in creditors
485,297
833,748
Decrease in deferred income
(25,600)
(800)
Cash generated from operations
803,542
1,069,175
29
Cash generated from operations - company
2025
2024
£
£
Profit after taxation
343,944
190,760
Adjustments for:
Taxation charged
53,129
161,499
Finance costs
94,282
57,298
Investment income
(23,531)
(39,597)
Gain on disposal of tangible fixed assets
(18,220)
(23,383)
Depreciation and impairment of tangible fixed assets
710,323
614,190
Movements in working capital:
Decrease/(increase) in stocks
16,350
(43,499)
Increase in debtors
(755,791)
(743,796)
Increase in creditors
459,426
810,369
Decrease in deferred income
(25,600)
(800)
Cash generated from operations
854,312
983,041
2025-06-30 2024-07-01 false false CCH Software CCH Accounts Production 2025.300 Mr P. Roy-Toole Mrs C. Roy-Toole Mr S.R. Toole Mrs L.R. 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