IRIS Accounts Production v25.1.3.33 03407923 Board of Directors 1.8.24 31.7.25 31.7.25 Medium entities the recovery and repair of motor vehicles. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: 03407923 (England and Wales)

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 July 2025

for

R S Recovery Limited

| R S Recovery Limited (Registered number: 03407923) |

Contents of the Financial Statements

for the Year Ended 31 July 2025

| Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |  | to |  | 4

| Report of the Independent Auditors | 5 |  | to |  | 8

| Statement of Income and Retained Earnings | 9 |

| Balance Sheet | 10 |

| Cash Flow Statement | 11 |

| Notes to the Cash Flow Statement | 12 |

| Notes to the Financial Statements | 13 |  | to |  | 21

| R S Recovery Limited |

Company Information

for the Year Ended 31 July 2025

| DIRECTORS: | Mr A S Sanghera

| Mr R S Rai

| Mr J Rai

| Mr I Sanghera

| SECRETARY: | Mr A S Sanghera

| REGISTERED OFFICE: | Unit 33 Conygree Industrial Estate

| Tipton

| West Midlands

| DY4 8XP

| REGISTERED NUMBER: | 03407923 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Frances Clapham

| AUDITORS: | CKCA Limited

| Castle Court 2

| Castlegate Way

| Dudley

| West Midlands

| DY1 4RH

| BANKERS: | Barclays Bank Plc

| Leicester

| LE87 2BB

| R S Recovery Limited (Registered number: 03407923) |

Strategic Report

for the Year Ended 31 July 2025

The directors present their strategic report for the year ended 31 July 2025.

REVIEW OF BUSINESS

The Principal activity of the company continues to be that of countrywide motor vehicle recovery. The Directors are pleased to report another successful year. As for many businesses of this size, the business environment in which the company operates continues to be challenging and very competitive.

Given the competitive nature of the industry the Directors consider the company's results for the year to be satisfactory and believe the company is well placed to react quickly to any changes in trading conditions and to take advantage of any business opportunities that may rise.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business and the execution of the company's strategies are subject to risks which are reviewed by the board of directors to ensure that appropriate processes are put in place to monitor these risks.

The directors continue to mitigate risks that have impacted the Company as follows:

* The company operates in a highly competitive environment and faces tough competition from other companies in the industry and it continues to provide a strong brand identity and investment into the future of the company.

* The company has a strict maintenance of compliance within their third party network by means of using independent third party accreditations and independent verification of insurance through brokers/insurers.

* Investments in modern and feature rich telecommunications systems to improve efficiency and service.

* Ongoing liaison with third party IT specialists and cyber insurers to ensure the company is protected from cyber security risks from both a technical and risk perspective.

* Achieving ISO: 9001 accreditation with a view to getting further accreditation

TRADING PERFORMANCE AND KEY PERFORMANCE INDICATORS

The directors consider the key performance indicators as those that communicate the financial performance and the strength of the company as a whole. kph relevant to the company have been calculated as follows:

| 31.7.25 |  | 31.7.24 |  |

| £ |  | £ |  |

Turnover |  | 28,310,254 |  | 27,176,487 |  |

Gross Profit |  | 6,595,174 |  | 7,535,871 |  |

Profit before taxation |  | 2,785,384 |  | 3,747,521 |  |

Turnover for the year amounted to £28,310,254 (2024 - £27,176,487) an increase of 4.17%.

Gross profit margin has decreased to 23.30% from 27.73% as a result of increasing costs.

FUTURE DEVELOPMENTS

The directors anticipate the business environment will remain competitive. They believe that the company is in a good financial position and that the risks that have been identified are being well managed. with careful focus on quality of service, as well as continuing review of the state of the market and the activities of the competitors, the directors are confident in the company's ability to maintain and build on this position.

ON BEHALF OF THE BOARD:

Mr A S Sanghera - Director

25 March 2026

| R S Recovery Limited (Registered number: 03407923) |

Report of the Directors

for the Year Ended 31 July 2025

The directors present their report with the financial statements of the company for the year ended 31 July 2025.

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary £1 shares | 25000.00 |  | -

A Ordinary £1 shares | 1500.00 |  | -

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 July 2025 will be £ 2,650,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2024 to the date of this report.

Mr A S Sanghera

Mr R S Rai

Mr J Rai

Mr I Sanghera

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are 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 each director 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.

| R S Recovery Limited (Registered number: 03407923) |

Report of the Directors

for the Year Ended 31 July 2025

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr A S Sanghera - Director

25 March 2026

Report of the Independent Auditors to the Members of

R S Recovery Limited

Opinion

We have audited the financial statements of R S Recovery Limited (the 'company') for the year ended 31 July 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, 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 July 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 Directors 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 Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

R S Recovery Limited

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 Directors.

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 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 Statement of Directors' Responsibilities set out on page three, 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 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.

As explained more fully in the directors' responsibilities statement, 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.

Report of the Independent Auditors to the Members of

R S Recovery Limited

Auditors' responsibilities for the audit of the financial statements

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

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

We identified and assessed the risks of material misstatement of the financial statements, in respect of irregularities whether due to fraud or error, or non-compliance with laws and regulations and then designed and performed audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, our procedures included the following:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company by discussion and enquiry with the directors and management team and our general knowledge and experience of the vehicle recovery sector.

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, data protection, employment, vehicle standards and health and safety legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing correspondence with relevant regulators and discussing with management;

Audit response to risks identified

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed included but were not limited to:

- Discussions with directors and management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- Confirming our understanding of controls by performing a walkthrough test or observation and enquiry

- Performing analytical procedures to identify any unusual or unexpected relationships;

- Challenging assumptions and judgements made by management in its significant accounting estimates;

- Identifying and testing journal entries;

- Reviewing unusual or unexpected transactions; and

- Agreeing the financial statement disclosures to underlying supporting documentation.

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.

Report of the Independent Auditors to the Members of

R S Recovery Limited

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.

Frances Clapham (Senior Statutory Auditor)

for and on behalf of CKCA Limited

Castle Court 2

Castlegate Way

Dudley

West Midlands

DY1 4RH

25 March 2026

| R S Recovery Limited (Registered number: 03407923) |

Statement of Income and

Retained Earnings

for the Year Ended 31 July 2025

| 31.7.25 |  | 31.7.24

| Notes | £ | £ |

TURNOVER | 3 | 28,310,254 |  | 27,176,487 |  |

Cost of sales | 21,715,080 |  | 19,640,616 |  |

GROSS PROFIT | 6,595,174 |  | 7,535,871 |  |

Administrative expenses | 3,598,495 |  | 3,635,106 |  |

2,996,679 |  | 3,900,765 |  |

Other operating income | 20,782 |  | - |  |

OPERATING PROFIT | 6 | 3,017,461 |  | 3,900,765 |  |

Interest receivable and similar income | 6,646 |  | 808 |  |

3,024,107 |  | 3,901,573 |  |

Interest payable and similar expenses | 7 | 238,723 |  | 154,052 |  |

PROFIT BEFORE TAXATION | 2,785,384 |  | 3,747,521 |  |

Tax on profit | 8 | 809,381 |  | 990,902 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,976,003 |  | 2,756,619 |  |

Retained earnings at beginning of year | 3,960,900 |  | 3,827,281 |  |

Dividends | 9 | (2,650,000 | ) | (2,623,000 | ) |

RETAINED EARNINGS AT END OF YEAR | 3,286,903 |  | 3,960,900 |  |

| R S Recovery Limited (Registered number: 03407923) |

Balance Sheet

31 July 2025

| 31.7.25 | 31.7.24 |

| Notes | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 6,354,653 |  | 5,175,015 |  |

CURRENT ASSETS

Stocks | 11 | 64,500 |  | 52,500 |  |

Debtors | 12 | 6,113,449 |  | 5,465,129 |  |

Cash at bank and in hand | 2,167,924 |  | 3,059,891 |  |

8,345,873 |  | 8,577,520 |  |

CREDITORS

Amounts falling due within one year | 13 | 6,787,873 |  | 5,784,913 |  |

NET CURRENT ASSETS | 1,558,000 |  | 2,792,607 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,912,653 |  | 7,967,622 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (3,095,775 | ) | (2,756,834 | ) |

PROVISIONS FOR LIABILITIES | 17 | (1,529,775 | ) | (1,249,688 | ) |

NET ASSETS | 3,287,103 |  | 3,961,100 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 200 |  | 200 |  |

Retained earnings | 19 | 3,286,903 |  | 3,960,900 |  |

SHAREHOLDERS' FUNDS | 3,287,103 |  | 3,961,100 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by:

Mr R S Rai - Director

| R S Recovery Limited (Registered number: 03407923) |

Cash Flow Statement

for the Year Ended 31 July 2025

| 31.7.25 |  | 31.7.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 5,180,888 |  | 5,522,744 |  |

Interest paid | (19,686 | ) | (9,054 | ) |

Interest element of hire purchase payments paid | (219,037 | ) | (144,998 | ) |

Tax paid | (1,140,337 | ) | (169,795 | ) |

Net cash from operating activities | 3,801,828 |  | 5,198,897 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (556,582 | ) | (268,711 | ) |

Sale of tangible fixed assets | 228,568 |  | 160,259 |  |

Reclassification of assets | - |  | 12,917 |  |

Interest received | 6,646 |  | 808 |  |

Net cash from investing activities | (321,368 | ) | (94,727 | ) |

Cash flows from financing activities

Capital repayments in year | (1,744,915 | ) | (1,544,735 | ) |

Amount introduced by directors | 23,019 |  | 296,000 |  |

Amount withdrawn by directors | (531 | ) | (297,349 | ) |

Equity dividends paid | (2,650,000 | ) | (2,623,000 | ) |

Net cash from financing activities | (4,372,427 | ) | (4,169,084 | ) |

(Decrease)/increase in cash and cash equivalents | (891,967 | ) | 935,086 |  |

Cash and cash equivalents at beginning of year | 2 | 3,059,891 |  | 2,124,805 |  |

Cash and cash equivalents at end of year | 2 | 2,167,924 |  | 3,059,891 |  |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Cash Flow Statement

for the Year Ended 31 July 2025

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Profit before taxation | 2,785,384 |  | 3,747,521 |  |

| Depreciation charges | 1,402,450 |  | 1,228,368 |  |

| Profit on disposal of fixed assets | (7 | ) | (7,170 | ) |

| Finance costs | 238,723 |  | 154,052 |  |

| Finance income | (6,646 | ) | (808 | ) |

4,419,904 |  | 5,121,963 |  |

| Increase in stocks | (12,000 | ) | (1,848 | ) |

| Increase in trade and other debtors | (648,320 | ) | (462,582 | ) |

| Increase in trade and other creditors | 1,421,304 |  | 865,211 |  |

| Cash generated from operations | 5,180,888 |  | 5,522,744 |  |

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 July 2025

| 31.7.25 |  | 1.8.24

£ | £ |

| Cash and cash equivalents | 2,167,924 |  | 3,059,891 |  |

| Year ended 31 July 2024

| 31.7.24 |  | 1.8.23

£ | £ |

| Cash and cash equivalents | 3,059,891 |  | 2,124,805 |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| Other |

| non-cash |

| At 1.8.24 | Cash flow | changes | At 31.7.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank

| and in hand | 3,059,891 |  | (891,967 | ) | 2,167,924 |  |

3,059,891 |  | (891,967 | ) | 2,167,924 |  |

| Debt

| Finance leases | (4,248,767 | ) | 1,744,915 |  | (2,254,067 | ) | (4,757,919 | ) |

(4,248,767 | ) | 1,744,915 |  | (2,254,067 | ) | (4,757,919 | ) |

| Total | (1,188,876 | ) | 852,948 |  | (2,254,067 | ) | (2,589,995 | ) |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements

for the Year Ended 31 July 2025

1. | STATUTORY INFORMATION

| R S Recovery Limited 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.

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.

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

| The principal accounting policies are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

| R S Recovery Limited is a subsidiary of R S Recovery Holdings Limited and the results of R S Recovery Limited are included in the consolidated financial statements of R S Recovery Holdings Limited which can be obtained from Companies House, Cardiff.

| Significant judgements and estimates

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

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

| Key Sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Useful economic lives of the motor vehicle assets

| The annual depreciation charge for motor vehicle assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for motor vehicle recovery services provided in the normal course of business, which is recognised on the date of the recovery net of VAT and trade discounts.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Short leasehold | - | 2% on cost

| Buildings and structures | - | 3% on cost

| Plant and machinery | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.

| The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

| Financial instruments

| Financial instruments are recognised in the company balance sheet when the company becomes party to the contractual provisions of the instrument.

| Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

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

| Deferred tax

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

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

3. | TURNOVER

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

| An analysis of turnover by class of business is given below:

| 31.7.25 |  | 31.7.24

£ | £ |

| Motor vehicle recovery | 28,310,254 |  | 27,176,487 |  |

28,310,254 |  | 27,176,487 |  |

| An analysis of turnover by geographical market is given below:

| 31.7.25 |  | 31.7.24

£ | £ |

| United Kingdom | 28,310,254 |  | 27,176,487 |  |

28,310,254 |  | 27,176,487 |  |

4. | EMPLOYEES AND DIRECTORS

| 31.7.25 |  | 31.7.24

£ | £ |

| Wages and salaries | 6,408,371 |  | 5,469,807 |  |

| Social security costs | 762,773 |  | 570,104 |  |

| Other pension costs | 133,092 |  | 113,810 |  |

7,304,236 |  | 6,153,721 |  |

| The average number of employees during the year was as follows:

| 31.7.25 |  | 31.7.24

| Directors | 4 |  | 4 |  |

| Administration | 59 |  | 62 |  |

| Productive | 86 |  | 72 |  |

149 |  | 138 |  |

5. | DIRECTORS' EMOLUMENTS

| Directors Remuneration |  |

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Directors Emoluments |  | 63,100 |  | 53,158 |  |

| Directors Pensions |  | 398 |  | 380 |  |

|  | 63,498 |  | 53,538 |  |

| During the year retirement benefits were accruing to 2 directors £398 (2024 - £380) in respect of defined contribution pension schemes.

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

6. | OPERATING PROFIT

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Depreciation - owned assets | 126,952 |  | 84,983 |  |

| Depreciation - assets on hire purchase contracts | 1,275,498 |  | 1,143,387 |  |

| Profit on disposal of fixed assets | (7 | ) | (7,170 | ) |

| Auditors' remuneration | 15,000 |  | 12,250 |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.7.25 |  | 31.7.24

£ | £ |

| Other interest | 19,686 |  | 9,054 |  |

| Hire purchase | 219,037 |  | 144,998 |  |

238,723 |  | 154,052 |  |

8. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 31.7.25 |  | 31.7.24

£ | £ |

| Current tax:

| UK corporation tax | 529,294 |  | 643,547 |  |

| Deferred tax | 280,087 |  | 347,355 |  |

| Tax on profit | 809,381 |  | 990,902 |  |

| Reconciliation of total tax charge included in profit and loss

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

| 31.7.25 |  | 31.7.24

£ | £ |

| Profit before tax | 2,785,384 |  | 3,747,521 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 696,346 |  | 936,880 |  |

| Effects of:

| Expenses not deductible for tax purposes | 4,554 |  | 5,637 |  |

| Origination and reversal of timing differences | 108,481 |  | 48,385 |  |

| Total tax charge | 809,381 |  | 990,902 |  |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

9. | DIVIDENDS

| 31.7.25 |  | 31.7.24

£ | £ |

| Ordinary shares of £1 each

| Interim | 2,500,000 |  | 2,500,000 |  |

| A Ordinary shares of £1 each

| Interim | 150,000 |  | 123,000 |  |

2,650,000 |  | 2,623,000 |  |

10. | TANGIBLE FIXED ASSETS

| Buildings |

| Short |  | and |  | Plant and

| leasehold |  | structures |  | machinery

£ | £ | £ |

| COST

| At 1 August 2024 | 52,933 |  | - |  | 1,361,340 |  |

| Additions | - |  | 237,543 |  | 319,039 |  |

| Disposals | - |  | - |  | (592 | ) |

| Reclassification/transfer | - |  | - |  | - |  |

| At 31 July 2025 | 52,933 |  | 237,543 |  | 1,679,787 |  |

| DEPRECIATION

| At 1 August 2024 | 5,325 |  | - |  | 586,564 |  |

| Charge for year | 6,384 |  | 7,126 |  | 139,579 |  |

| Eliminated on disposal | - |  | - |  | (7 | ) |

| At 31 July 2025 | 11,709 |  | 7,126 |  | 726,136 |  |

| NET BOOK VALUE

| At 31 July 2025 | 41,224 |  | 230,417 |  | 953,651 |  |

| At 31 July 2024 | 47,608 |  | - |  | 774,776 |  |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

10. | TANGIBLE FIXED ASSETS - continued

| Capital |

| Motor |  | work in |

| vehicles |  | progress |  | Totals

£ | £ | £ |

| COST

| At 1 August 2024 | 6,654,981 |  | 255,050 |  | 8,324,304 |  |

| Additions | 1,531,221 |  | 722,846 |  | 2,810,649 |  |

| Disposals | (819,048 | ) | - |  | (819,640 | ) |

| Reclassification/transfer | 255,050 |  | (255,050 | ) | - |  |

| At 31 July 2025 | 7,622,204 |  | 722,846 |  | 10,315,313 |  |

| DEPRECIATION

| At 1 August 2024 | 2,557,400 |  | - |  | 3,149,289 |  |

| Charge for year | 1,249,361 |  | - |  | 1,402,450 |  |

| Eliminated on disposal | (591,072 | ) | - |  | (591,079 | ) |

| At 31 July 2025 | 3,215,689 |  | - |  | 3,960,660 |  |

| NET BOOK VALUE

| At 31 July 2025 | 4,406,515 |  | 722,846 |  | 6,354,653 |  |

| At 31 July 2024 | 4,097,581 |  | 255,050 |  | 5,175,015 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and |  | Motor |

| machinery |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 August 2024 | 276,137 |  | 6,553,142 |  | 6,829,279 |  |

| Additions | - |  | 1,531,221 |  | 1,531,221 |  |

| Disposals | - |  | (819,048 | ) | (819,048 | ) |

| Reclassification/transfer | - |  | 255,050 |  | 255,050 |  |

| At 31 July 2025 | 276,137 |  | 7,520,365 |  | 7,796,502 |  |

| DEPRECIATION

| At 1 August 2024 | 17,259 |  | 2,506,339 |  | 2,523,598 |  |

| Charge for year | 38,831 |  | 1,236,667 |  | 1,275,498 |  |

| Eliminated on disposal | - |  | (591,072 | ) | (591,072 | ) |

| At 31 July 2025 | 56,090 |  | 3,151,934 |  | 3,208,024 |  |

| NET BOOK VALUE

| At 31 July 2025 | 220,047 |  | 4,368,431 |  | 4,588,478 |  |

| At 31 July 2024 | 258,878 |  | 4,046,803 |  | 4,305,681 |  |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

11. | STOCKS

| Stock Analysis

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Consumables and spares |  | 64,500 |  |  | 52,500 |

|  | 64,500 |  |  | 52,500 |

12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.7.25 |  | 31.7.24

£ | £ |

| Trade debtors | 5,285,769 |  | 5,361,155 |  |

| Companies under common control | 720,055 |  | - |  |

| Other debtors | 25,916 |  | 38,037 |  |

| Prepayments and accrued income | 81,709 |  | 65,937 |  |

6,113,449 |  | 5,465,129 |  |

13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.7.25 |  | 31.7.24

£ | £ |

| Hire purchase contracts (see note 15) | 1,662,144 |  | 1,491,933 |  |

| Trade creditors | 2,673,423 |  | 2,397,723 |  |

| Amounts owed to group undertakings | 1,440,770 |  | 380,160 |  |

| Tax | 41,542 |  | 652,585 |  |

| Social security and other taxes | 231,929 |  | 124,030 |  |

| VAT | 369,408 |  | 453,385 |  |

| Other creditors | 34,373 |  | 92,302 |  |

| Directors' current accounts | 23,019 |  | 531 |  |

| Accruals and deferred income | 311,265 |  | 192,264 |  |

6,787,873 |  | 5,784,913 |  |

14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.7.25 |  | 31.7.24

£ | £ |

| Hire purchase contracts (see note 15) | 3,095,775 |  | 2,756,834 |  |

15. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

| 31.7.25 |  | 31.7.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 1,662,144 |  | 1,491,933 |  |

| Between one and five years | 3,095,775 |  | 2,756,834 |  |

4,757,919 |  | 4,248,767 |  |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

16. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.7.25 |  | 31.7.24

£ | £ |

| Hire purchase contracts | 4,757,919 |  | 4,248,767 |  |

| Debenture on the bank standard form dated 31 May 2002

| Barclays Bank Plc hold fixed and floating charges over all property or undertaking of the company dated 20 November 2017.

17. | PROVISIONS FOR LIABILITIES

| 31.7.25 |  | 31.7.24

£ | £ |

| Deferred tax | 1,529,775 |  | 1,249,688 |  |

| Deferred |

| tax |

£ |

| Balance at 1 August 2024 | 1,249,688 |  |

| Accelerated capital allowances | 280,087 |  |

| Balance at 31 July 2025 | 1,529,775 |  |

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.7.25 |  | 31.7.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| 100 | A Ordinary | £1 | 100 |  | 100 |  |

200 |  | 200 |  |

| Ordinary shares have right to dividends, distributions and voting.

| Ordinary A shares have rights to dividends and distributions only, but with no voting rights

19. | RESERVES

| Retained

| earnings

£ |

| At 1 August 2024 | 3,960,900 |  |

| Profit for the year | 1,976,003 |  |

| Dividends | (2,650,000 | ) |

| At 31 July 2025 | 3,286,903 |  |

| R S Recovery Limited (Registered number: 03407923) |

Notes to the Financial Statements - continued

for the Year Ended 31 July 2025

20. | PENSION COMMITMENTS

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Charge to profit or loss in respect of defined contribution schemes |  | 133,490 |  | 114,190 |  |

21. | CAPITAL COMMITMENTS

| 31.7.25 |  | 31.7.24

£ | £ |

| Contracted but not provided for in the

| financial statements | - |  | 917,600 |  |

22. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| Limited guarantee given by Mr Rashpal Singh Rai for £15,000 dated 29/06/2000.

23. | RELATED PARTY DISCLOSURES

| The company occupies premises owned by the directors at a rental of £96,000pa (2024 - £96,000).

| The Company also rents its other premises from a company under common control at a rental of £240,000 (2024 - £240,000) and included in other debtors is an amount of £720,055 (2024 - £78,061 - creditor) owed by the same.

| The company also rents Motor Vehicles from R S Holdings Limited, a company with significant control over the company, at a rental of £40,000pa (2024 - £40,000) and included within creditors is an Amount Owed to Group Undertakings of £1,440,770 (2024 - £380,160).During the year the company sold assets at Net Book Value of £227,976 (2024- £ 127,418) to the same.

| During the year, a total of key management personnel compensation of £ 528,215 (2024 - £ 469,362 ) was paid.

24. | ULTIMATE CONTROLLING PARTY

| The controlling party is R S Recovery Holdings Limited.

| The directors Mr R S Rai and Mr A S Sanghera together with their spouses are the ultimate controlling party.