Company Registration Number SC110658
EUROROUTE LIMITED
COMPANY INFORMATION
EUROROUTE LIMITED
CONTENTS
EUROROUTE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their Strategic Report for the Company for the year ended 31 October 2025. The comparatives presented are for the period from 1 May 2023 to 31 October 2024.
Euroroute Limited operates a vehicle recovery and new and used car parts business. The company has had a successful year, with turnover totalling £8,404,589 compared to £11,780,512 for the 18 month period ended 31 October 2024, a pro-rata increase of 7.0%. This has generated an operating profit of £854,581 compared to £1,095,828 for the prior 18 month period ended 31 October 2024. The company has continued to invest in plant and machinery and vehicles with additions in the year totalling £2,604,711 (2024: £3,089,323). The directors are of the opinion that the future prospects of the company remain positive, as they look to continue to grow the company's turnover.
The directors continually monitor the key risks facing the Company together with assessing the controls used for managing risks. The principal risk facing the Company is from competition in the vehicle recovery sector and the potential loss of significant contracts, which is mitigated by the expertise of the directors in the sector.
The Company’s financial instruments mainly comprise cash, trade debtors, trade creditors, and finance lease and hire purchase contract liabilities. The Company’s main risks arising from financial instruments are counterparty, liquidity and cashflow risk. The Company has no exposure to exchange rate risk and has not entered into any derivative transactions. The directors agree policies for managing the risks arising from the Company's financial instruments. The Company has treasury and liquidity management procedures in place appropriate to the size of the business.
The Company’s financial instruments mainly comprise cash, trade debtors, trade creditors, and finance lease and hire purchase contract liabilities. The Company’s main risks arising from financial instruments are counterparty, liquidity and cashflow risk. The Company has no exposure to exchange rate risk and has not entered into any derivative transactions. The directors agree policies for managing the risks arising from the Company's financial instruments. The Company has treasury and liquidity management procedures in place appropriate to the size of the business.
The directors use a range of performance measures to monitor and manage the Company. The directors consider the key financial performance indicators are those that communicate the financial performance and strength of the Company, being turnover, EBITDA, profitability before taxation and net assets.
This report was approved by the board and signed on its behalf.
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EUROROUTE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements for the year ended 31 October 2025. The comparatives presented are for the 18-month period ended 31 October 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The profit for the Year, after taxation, amounted to £488,034 (2024 - £510,214).
During the year ended 31 October 2025 the directors paid a dividend of £182,000 (2024 - £351,500).
The directors who served during the Year were:
The Company has chosen to set out in the Company's strategic report information required to be contained in the director's report, in respect of financial instruments.
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EUROROUTE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
On 30 April 2026, the Company completed the purchase of a freehold property for a total consideration of £485,000. As the transaction occurred after the balance sheet date, it is treated as a non-adjusting event in accordance with applicable accounting standards.
No adjustments have been made to the financial statements in respect of this transaction. However, the Directors consider the disclosure relevant to users of the accounts due to the material nature of the purchase.
No adjustments have been made to the financial statements in respect of this transaction. However, the Directors consider the disclosure relevant to users of the accounts due to the material nature of the purchase.
The auditors, Armstrong Watson Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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EUROROUTE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROROUTE LIMITED
We have audited the financial statements of Euroroute Limited (the 'Company') for the Year ended 31 October 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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EUROROUTE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROROUTE LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial Year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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EUROROUTE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROROUTE LIMITED (CONTINUED)
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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the Health and Safety at Work Act, UK Companies Act, tax legislation and employment legislation.
∙We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.
∙We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.
∙The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition and management override of controls.
∙We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.
∙We enquired of the directors and third-party advisors about actual and potential litigation and claims.
∙We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.
∙In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities 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 Auditors' Report.
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EUROROUTE LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EUROROUTE LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
James Watson House
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EUROROUTE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
REGISTERED NUMBER: SC110658
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 31 form part of these financial statements.
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EUROROUTE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024
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EUROROUTE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Euroroute Limited is a private company, limited by shares, registered in Scotland. The Company's registered number is SC110658 and the registered office address is 51 Rae Street, Dumfries, DG1 1JD.
The principal activities of the Company are vehicle recovery and the sale of new and used car parts.
The financial statements are presented in sterling which is the functional currency of the Company.
The principal activities of the Company are vehicle recovery and the sale of new and used car parts.
The financial statements are presented in sterling which is the functional currency of the Company.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
These financial statements have been prepared in accordance with the provisions of FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the requirements of the Companies Act 2006 applicable to medium companies.
The financial statements cover the year ended 31 October 2025, being a period of 12 months. The comparative financial statements were prepared for the period ended 31 October 2024, being a period of 18 months, following a change in the company's accounting reference date.
Accordingly, the results for the current year are not directly comparable with those of the prior period. The comparative figures have not been restated or adjusted to reflect a 12-month period.
The financial statements cover the year ended 31 October 2025, being a period of 12 months. The comparative financial statements were prepared for the period ended 31 October 2024, being a period of 18 months, following a change in the company's accounting reference date.
Accordingly, the results for the current year are not directly comparable with those of the prior period. The comparative figures have not been restated or adjusted to reflect a 12-month period.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis. The directors have prepared cash flow forecasts for a period of at least twelve months from the date of approval of these financial statements. The Company is profitable, generated net cash from operating activities of £2,304,836 during the period, and has net assets of £2,552,412.
The directors acknowledge that the Company is in a net current liability position of £416,446 at the reporting date, arising principally from finance lease and hire purchase obligations falling due within one year. The directors are satisfied that the Company's continued profitability and operating cash flows are sufficient to meet these obligations as they fall due.
Accordingly, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
The directors acknowledge that the Company is in a net current liability position of £416,446 at the reporting date, arising principally from finance lease and hire purchase obligations falling due within one year. The directors are satisfied that the Company's continued profitability and operating cash flows are sufficient to meet these obligations as they fall due.
Accordingly, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Revenue from the company's vehicle recovery service is recognised once the vehicle has been recovered and returned to one of the company's vehicle storage locations.
Sale of vehicles and parts
Revenue from the sale of vehicles, parts and scrap is recognised upon collection or delivery, when the significant risks and rewards of ownership have been transferred to the buyer.
Van hire
Revenue from the hiring out of vans to customers is recognised upon collection or delivery of the vehicle by/to the customer.
Garage services
Revenue from the company's garage services is recognised upon completion of the work being carried out on the vehicle.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight-line basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
New parts for resale - cost is based on the cost of purchase on a first in, first out basis.
Dismantled parts for resale - the cost of each part held for resale includes the average purchase cost of vehicles to be dismantled, the estimated cost of recovering vehicles to be dismantled, and the estimated direct cost of dismantling a vehicle, based on the average expected number of parts recovered per vehicle.
Used vehicles for dismantling - cost is based on the direct purchase cost of the vehicle, plus the estimated cost of recovering vehicles, adjusted for the removal of parts.
Vehicles held for sale - cost is based on the direct purchase cost of the vehicle, plus all costs incurred in bringing the vehicle to its present location and condition.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only enter into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.
The estimates and assumptions that have an increased risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:
a) Stock valuation
The Company makes various estimates when calculating the cost of dismantled parts for resale and used vehicles for dismantling. These include estimates for the average number of parts recovered per vehicle, the estimated average dismantling time per vehicle, the estimated average recovery distance and time for recovering vehicles, and the estimated running costs of recovery vehicles per mile. The Company makes these estimates based on historic data available and the knowledge of the Directors of the Company's operational costs.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
11.Taxation (continued)
Factors that may affect future tax charges include unrelieved tax losses of £24,275.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Profit and loss account
During the year ended 31 October 2025, the Company identified that the hire purchase liabilities had been overstated in both the period ended 31 October 2024 and the year ended 30 April 2023, which related to the recalculation of hire purchase interest charged. The comparative figures for the period ended 31 October 2024 have been restated to reduce the hire purchase liability within creditors and increase the profit for the period, therefore increasing the brought forward profit and loss reserves related to the year ended 31 October 2025.
The prior year adjustment in relation to the year ended 30 April 2023 related to the same issue, therefore the brought forward profit and loss reserves relating to the period ended 31 October 2024 have been increased.
The adjustments have been reflected in the opening balances at 1 November 2024 to present comparative information on a consistent basis. The impact of the restatement is as follows:
The prior year adjustment in relation to the year ended 30 April 2023 related to the same issue, therefore the brought forward profit and loss reserves relating to the period ended 31 October 2024 have been increased.
The adjustments have been reflected in the opening balances at 1 November 2024 to present comparative information on a consistent basis. The impact of the restatement is as follows:
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £71,190 (2024 - £83,849 ). Contributions totalling £12,376 (2024 - £Nil) were payable to the fund at the reporting date.
No adjustments have been made to the financial statements in respect of this transaction. However, the Directors consider the disclosure relevant to users of the accounts due to the material nature of the purchase.
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EUROROUTE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
There is no ultimate controlling party of the Company.
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