REGISTERED NUMBER: 09285800 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 March 2026

for

FLEET SERVICE (GREAT BRITAIN) LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Statement of Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

M A Bray

G R Bray

S L Clifford

P M Hitt

J O Jarvis

S J Williams

I Bray

M M Harrington

REGISTERED OFFICE:

The Stonehouse

Notton Business Park

Notton

Lacock

Wiltshire

SN15 2NF

REGISTERED NUMBER:

09285800 (England and Wales)

AUDITORS:

Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

The directors present their strategic report of the company and the group for the year ended 31 March 2026.

REVIEW OF BUSINESS

The company provides the only end-to-end, integrated, modular, vehicle and driver management service solution on the market. The company continues to build on existing and new business relationships and on developing additional services appropriate to the demands of the market. This has positioned the company well for future growth.

The directors monitor the progress of the company and the implementation of its strategy by regular measurement of business performance compared to its business plan. The directors are satisfied with the sales and profit results for the year, which exceeded business plan expectations for the year.

KEY PERFORMANCE INDICATORS

The key financial metrics are these:

2026£'000

2025£'000

% change

Sales turnover

16,615

16,811

-1.2%

Gross margin %

28.4%

28%

Pre-Tax Operating Profit

1,188

1,494

-20.5%

Shareholders' Funds

3,912

3,365

Non financial KPI's include Call Centre answer time, System availability to clients, % of Business transacted through Fleet Support partner garages. These are regularly reported and reviewed in divisional management and board meetings.

The directors are satisfied with the company performance as measured by the KPI's.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the business is subject to a number of key risks, which are regularly reviewed and discussed by the directors. Appropriate measures and processes are put in place to monitor them and mitigate against them.

The company operates in a highly competitive market, particularly in respect of price, service levels and service developments. To mitigate this risk the company monitors the market and seeks to understand customer and supplier expectations through regular workshops and forums.

The company is vigilant to minimise financial risk. Credit checks are carried out on any prospective client, with appropriate credit limits put in place and regularly reviewed. It operates strict credit control procedures to avoid overdue debt from clients.

FUTURE DEVELOPMENTS

The company intends to follow its consistent and proven strategy. This strategy develops and builds on several key initiatives with the aim of continuing to position the company to grow its sales, margin and profitability along with an increased market share.

Moving into the new financial year and with competition as prominent as ever, the company continues to ensure that it differentiates itself from its competitors via its unique service delivery and superior customer service level.

ON BEHALF OF THE BOARD:

G R Bray - Director

1 July 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of business support services.

DIVIDENDS

Total dividends paid in the year were £351,000 (2025: £312,000).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2025 to the date of this report.

M A Bray

G R Bray

S L Clifford

P M Hitt

J O Jarvis

S J Williams

I Bray

Other changes in directors holding office are as follows:

M M Harrington - appointed 6 April 2025

DONATIONS

Total charitable donations of £1,497 (2025: £4,373) were made during the year to a number of national and local charities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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). 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 the group 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;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

G R Bray - Director

1 July 2026

Opinion

We have audited the financial statements of Fleet Service (Great Britain) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2026 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the 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 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 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussion with key personnel and consideration of our experience of clients in similar sectors and group situations.

We determined that the most significant laws and regulations which have a direct impact on the form and content of the financial statements of the entity are the Companies Act and UK GAAP, specifically FRS102.

We determined that the most significant operational laws and regulations for the entity are those governing data protection, employment, and vehicle regulations.

Based on the results or our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, with no issues arising.

We gained an understating of the entity's policy and procedures by discussion with key personnel and substantive audit work.

We assessed the risk of material misstatement in respect of fraud through our planning processes, and no significant risks were identified.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Catherine Edwards BSc FCA (Senior Statutory Auditor)

for and on behalf of Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

1 July 2026

TURNOVER

16,614,897

16,811,305

Cost of sales

11,901,909

12,096,551

GROSS PROFIT

4,712,988

4,714,754

Administrative expenses

3,553,451

3,237,846

1,159,537

1,476,908

Other operating income

-

(8,439

)

OPERATING PROFIT

4

1,159,537

1,468,469

Interest receivable and similar income

28,472

25,204

PROFIT BEFORE TAXATION

1,188,009

1,493,673

Tax on profit

5

290,626

391,585

PROFIT FOR THE FINANCIAL YEAR

897,383

1,102,088

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

897,383

Prior year adjustment

(430,642

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

671,446

Profit attributable to:

Owners of the parent

897,383

1,102,088

Total comprehensive income attributable to:

Owners of the parent

897,383

671,446

FIXED ASSETS

Intangible assets

8

63,676

67,811

Tangible assets

9

2,313,968

2,292,393

Investments

10

-

-

2,377,644

2,360,204

CURRENT ASSETS

Debtors

11

2,234,571

2,318,398

Cash at bank and in hand

1,479,227

985,519

3,713,798

3,303,917

CREDITORS

Amounts falling due within one year

12

2,163,922

2,278,088

NET CURRENT ASSETS

1,549,876

1,025,829

TOTAL ASSETS LESS CURRENT LIABILITIES

3,927,520

3,386,033

PROVISIONS FOR LIABILITIES

13

15,960

20,846

NET ASSETS

3,911,560

3,365,187

CAPITAL AND RESERVES

Called up share capital

14

390,000

390,010

Share premium

8,000

8,000

Revaluation reserve

732,674

732,674

Retained earnings

2,780,886

2,234,503

SHAREHOLDERS' FUNDS

3,911,560

3,365,187

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2026 and were signed on its behalf by:

G R Bray - Director

FIXED ASSETS

Intangible assets

8

63,676

67,811

Tangible assets

9

92,928

79,949

Investments

10

981,339

981,339

1,137,943

1,129,099

CURRENT ASSETS

Debtors

11

3,471,956

3,534,421

Cash at bank and in hand

1,478,779

985,840

4,950,735

4,520,261

CREDITORS

Amounts falling due within one year

12

2,161,323

2,266,526

NET CURRENT ASSETS

2,789,412

2,253,735

TOTAL ASSETS LESS CURRENT LIABILITIES

3,927,355

3,382,834

PROVISIONS FOR LIABILITIES

13

15,101

19,987

NET ASSETS

3,912,254

3,362,847

CAPITAL AND RESERVES

Called up share capital

14

390,000

390,010

Share premium

8,000

8,000

Retained earnings

3,514,254

2,964,837

SHAREHOLDERS' FUNDS

3,912,254

3,362,847

Company's profit for the financial year

900,417

1,116,414

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2026 and were signed on its behalf by:

G R Bray - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 April 2024

390,010

2,607,731

8,000

-

3,005,741

Prior year adjustment

-

(430,642

)

-

-

(430,642

)

As restated

390,010

2,177,089

8,000

-

2,575,099

Changes in equity

Dividends

-

(312,000

)

-

-

(312,000

)

Total comprehensive income

-

369,414

-

732,674

1,102,088

Balance at 31 March 2025

390,010

2,234,503

8,000

732,674

3,365,187

Changes in equity

Issue of share capital

(10

)

-

-

-

(10

)

Dividends

-

(351,000

)

-

-

(351,000

)

Total comprehensive income

-

897,383

-

-

897,383

Balance at 31 March 2026

390,000

2,780,886

8,000

732,674

3,911,560

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 April 2024

390,010

2,160,423

8,000

2,558,433

Changes in equity

Dividends

-

(312,000

)

-

(312,000

)

Total comprehensive income

-

1,116,414

-

1,116,414

Balance at 31 March 2025

390,010

2,964,837

8,000

3,362,847

Changes in equity

Issue of share capital

(10

)

-

-

(10

)

Dividends

-

(351,000

)

-

(351,000

)

Total comprehensive income

-

900,417

-

900,417

Balance at 31 March 2026

390,000

3,514,254

8,000

3,912,254

Cash flows from operating activities

Cash generated from operations

1

1,246,838

315,627

Tax paid

(349,877

)

(546,023

)

Net cash from operating activities

896,961

(230,396

)

Cash flows from investing activities

Purchase of intangible fixed assets

(24,800

)

(8,316

)

Purchase of tangible fixed assets

(56,111

)

(282,890

)

Sale of tangible fixed assets

196

-

Interest received

28,472

25,204

Net cash from investing activities

(52,243

)

(266,002

)

Cash flows from financing activities

Share issue

(10

)

-

Equity dividends paid

(351,000

)

(312,000

)

Net cash from financing activities

(351,010

)

(312,000

)

Increase/(decrease) in cash and cash equivalents

493,708

(808,398

)

Cash and cash equivalents at beginning of year

2

985,519

1,793,917

Cash and cash equivalents at end of year

2

1,479,227

985,519

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

2026

2025

£

£

Profit before taxation

1,188,009

1,493,673

Depreciation charges

63,275

47,268

Profit on disposal of fixed assets

-

(1,461

)

Finance income

(28,472

)

(25,204

)

1,222,812

1,514,276

Decrease/(increase) in trade and other debtors

83,827

(234,645

)

Decrease in trade and other creditors

(59,801

)

(964,004

)

Cash generated from operations

1,246,838

315,627

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

1,479,227

985,519

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

985,519

1,793,917

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank and in hand

985,519

493,708

1,479,227

985,519

493,708

1,479,227

Total

985,519

493,708

1,479,227

1.	STATUTORY INFORMATION

Fleet Service (Great Britain) 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 General 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.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its

subsidiary undertakings ("the Group") drawn up to 30 September 2025, as if they form a single entity.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006

and has not presented its individual profit and loss account.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the

power to govern the financial and operating policies of an entity so as to obtain benefits from its

activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss

Account from the effective date of acquisition or up to the effective date of disposal, as

appropriate.Where necessary, adjustments are made to the financial statements of subsidiaries to

bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the

acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair

value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of

exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and

liabilities and contingent liabilities assumed in a business combination are measured initially at their fair

values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s

interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is

recorded as goodwill. They are deconsolidated from the date control ceases.

Inter-company transactions, balances and unrealised gains on transactions between the company and

its subsidiaries, which are related parties, are eliminated in full.

Turnover

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

Intangible assets

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

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Office Equipment

-

33.3% on cost and 25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The investment property has been moved to freehold property as it is now used within the group.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

2,579,505

2,283,612

Social security costs

334,275

304,010

Other pension costs

67,681

67,660

2,981,461

2,655,282

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

2026

2025

Clerical staff

43

40

Directors

8

7

51

47