REGISTERED NUMBER: 03133544 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2025

for

Partsworld Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditor

5

Income Statement

9

Other Comprehensive Income

10

Statement of Financial Position

11

Statement of Changes in Equity

12

Statement of Cash Flows

13

Notes to the Statement of Cash Flows

14

Notes to the Financial Statements

15

DIRECTORS:

K Kirkham

J Halstead

V L Norton

E Elwell

S Worgan

REGISTERED OFFICE:

Unit C

Orbital Way

Cannock

Staffordshire

WS11 8XW

REGISTERED NUMBER:

03133544 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Groucott

AUDITOR:

Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

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

REVIEW OF BUSINESS

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

PRINCIPAL RISKS AND UNCERTAINTIES

The business' principal financial instruments comprise bank balances, trade debtors, trade creditors. The main purpose of these instruments is to finance the business' operations.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers, and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors' liquidity is managed by ensuring sufficient funds are available to meet the amounts due.

FINANCIAL KEY PERFORMING INDICATORS

During the period, The turnover was £12,846,503 (2024-£22,977,974). Operating profit was £620,147 (2024- £3,062,475). The directors consider these to be the key performance indicators.

Net assets at the period end were £12,190,779 (2024-£12,722,526) the board are satisfied with the company's financial position.

ON BEHALF OF THE BOARD:

J Halstead - Director

30 June 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of distribution of motor parts.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of 92.87 per share.

The total distribution of dividends for the year ended 31 December 2025 will be £ 1,254,252 .

DIRECTORS

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

K Kirkham

J Halstead

V L Norton

E Elwell

Other changes in directors holding office are as follows:

S Worgan - appointed 1 September 2025

POLITICAL DONATIONS AND EXPENDITURE

Donations have been made in the year totalling £11,351. The amount was supporting national charities.

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). 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 auditor is 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 company's auditor is aware of that information.

AUDITOR

The auditor, Groucott Moor Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Halstead - Director

30 June 2026

Opinion

I have audited the financial statements of Partsworld Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 my opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 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

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

Conclusions relating to going concern

In auditing the financial statements, I 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 I have performed, I 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.

My 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 my Report of the Auditor thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

In my 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.

Matters on which I am 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, I have not identified material misstatements in the Strategic Report or the Report of the Directors.

I have nothing to report in respect of the following matters where the Companies Act 2006 requires me to report to you if, in my opinion:

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

-	I have not received all the information and explanations I require for my 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.

Auditor's responsibilities for the audit of the financial statements

My 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 Auditor that includes my 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 my procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

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

- results of our enquiries of management about their own identification and assessment of the risks and irregularities

- any matters we identified having obtained an understanding of the company policies and procedures relating to identifying, evaluating and complying with laws and regulations and whether they are aware of any instances of non-compliance

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud

- the internal controls set up to mitigate risks of fraud or non-compliance with laws and regulations

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

- obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, including UK Companies Act 2006, pensions and tax legislation

- provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements

- enquiring of management concerning actual and potential legal action and claims

- carrying out analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

- considering performance targets and their influence on efforts made by management to manage earnings

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 my 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 my Report of the Auditor.

Use of my 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. My audit work has been undertaken so that I might state to the company's members those matters I am required to state to them in a Report of the Auditor and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's members as a body, for my audit work, for this report, or for the opinions I have formed.

Andrew Groucott (Senior Statutory Auditor)

for and on behalf of Groucott Moor Limited

Lombard House

Cross Keys

Lichfield

Staffordshire

WS13 6DN

30 June 2026

TURNOVER

12,846,503

22,977,974

Cost of sales

9,760,240

17,554,971

GROSS PROFIT

3,086,263

5,423,003

Administrative expenses

2,466,116

2,360,528

OPERATING PROFIT

4

620,147

3,062,475

Interest receivable and similar income

342,707

361,060

PROFIT BEFORE TAXATION

962,854

3,423,535

Tax on profit

5

240,349

861,743

PROFIT FOR THE FINANCIAL YEAR

722,505

2,561,792

PROFIT FOR THE YEAR

722,505

2,561,792

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

722,505

2,561,792

FIXED ASSETS

Tangible assets

7

428,332

458,281

Investments

8

13,504

13,504

441,836

471,785

CURRENT ASSETS

Stocks

9

1,801,082

1,166,100

Debtors

10

2,837,840

2,522,470

Cash at bank and in hand

9,242,183

10,162,329

13,881,105

13,850,899

CREDITORS

Amounts falling due within one year

11

2,112,206

1,586,025

NET CURRENT ASSETS

11,768,899

12,264,874

TOTAL ASSETS LESS CURRENT LIABILITIES

12,210,735

12,736,659

PROVISIONS FOR LIABILITIES

13

19,956

14,133

NET ASSETS

12,190,779

12,722,526

CAPITAL AND RESERVES

Called up share capital

14

13,506

13,506

Retained earnings

15

12,177,273

12,709,020

SHAREHOLDERS' FUNDS

12,190,779

12,722,526

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2026 and were signed on its behalf by:

J Halstead - Director

K Kirkham - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

13,506

11,129,329

11,142,835

Changes in equity

Dividends

-

(982,101

)

(982,101

)

Total comprehensive income

-

2,561,792

2,561,792

Balance at 31 December 2024

13,506

12,709,020

12,722,526

Changes in equity

Dividends

-

(1,254,252

)

(1,254,252

)

Total comprehensive income

-

722,505

722,505

Balance at 31 December 2025

13,506

12,177,273

12,190,779

Cash flows from operating activities

Cash generated from operations

1

325,053

2,260,008

Interest paid

(30,118

)

(4,866

)

Tax paid

(288,431

)

(849,877

)

Net cash from operating activities

6,504

1,405,265

Cash flows from investing activities

Purchase of tangible fixed assets

(134,250

)

(305,640

)

Sale of tangible fixed assets

119,145

100,068

Interest received

342,707

361,060

Net cash from investing activities

327,602

155,488

Cash flows from financing activities

Equity dividends paid

(1,254,252

)

(982,101

)

Net cash from financing activities

(1,254,252

)

(982,101

)

(Decrease)/increase in cash and cash equivalents

(920,146

)

578,652

Cash and cash equivalents at beginning of year

2

10,162,329

9,583,677

Cash and cash equivalents at end of year

2

9,242,183

10,162,329

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

31.12.25

31.12.24

£

£

Profit before taxation

962,854

3,423,535

Depreciation charges

62,097

68,059

Loss on disposal of fixed assets

13,075

169,748

Finance income

(342,707

)

(361,060

)

695,319

3,300,282

(Increase)/decrease in stocks

(634,982

)

133,887

(Increase)/decrease in trade and other debtors

(315,370

)

462,644

Increase/(decrease) in trade and other creditors

580,086

(1,636,805

)

Cash generated from operations

325,053

2,260,008

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

9,242,183

10,162,329

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

10,162,329

9,583,677

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

10,162,329

(920,146

)

9,242,183

10,162,329

(920,146

)

9,242,183

Total

10,162,329

(920,146

)

9,242,183

1.	STATUTORY INFORMATION

Partsworld 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.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Management consider than certain accounting assumptions relating to revenue, stock and provisions are its critical accounting polices.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

1,722,002

1,543,960

Other pension costs

24,682

27,130

1,746,684

1,571,090

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

31.12.25

31.12.24

Directors

4

4

Wages

30

29

34

33

31.12.25

31.12.24

£

£

Directors' remuneration

574,217

487,528

Information regarding the highest paid director is as follows:

31.12.25

31.12.24

£

£

Emoluments etc

233,764

225,787

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.25

31.12.24

£

£

Depreciation - owned assets

31,979

63,193

Loss on disposal of fixed assets

13,075

169,748

Auditors' remuneration

8,925

-

Foreign exchange differences

14,592

7,344

5.

TAXATION

Analysis of the tax charge

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

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

234,526

903,782

Deferred tax

5,823

(42,039

)

Tax on profit

240,349

861,743

6.

DIVIDENDS

31.12.25

31.12.24

£

£

Ordinary shares of £1 each

Final

1,254,252

982,101

7.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2025

201,610

335,691

537,301

Additions

24,656

109,594

134,250

Disposals

(9,082

)

(127,666

)

(136,748

)

At 31 December 2025

217,184

317,619

534,803

DEPRECIATION

At 1 January 2025

72,215

6,805

79,020

Charge for year

20,707

11,272

31,979

Eliminated on disposal

(2,697

)

(1,831

)

(4,528

)

At 31 December 2025

90,225

16,246

106,471

NET BOOK VALUE

At 31 December 2025

126,959

301,373

428,332

At 31 December 2024

129,395

328,886

458,281

8.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

13,504

NET BOOK VALUE

At 31 December 2025

13,504

At 31 December 2024

13,504

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Drivetrain Supplies Limited

Registered office: Unit C Orbital Way , Cannock , Staffordshire , WS11 8XW

Nature of business: Distribution of motor parts

%

Class of shares:

holding

Ordinary

100.00

Powertrain Supplies Limited

Registered office: Unit C Orbital Way , Cannock , Staffordshire , WS11 8XW

Nature of business: Distribution of motor parts

%

Class of shares:

holding

Ordinary

100.00

Netlogistics Limited

Registered office: Unit C Orbital Way , Cannock , Staffordshire , WS11 8XW

Nature of business: Distribution of motor parts

%

Class of shares:

holding

Ordinary

100.00

Reliant Parts World Limited

Registered office: Unit C Orbital Way , Cannock , Staffordshire , WS11 8XW

Nature of business: Distribution of motor parts

%

Class of shares:

holding

Ordinary

100.00

9.

STOCKS

31.12.25

31.12.24

£

£

Stocks

1,801,082

1,166,100

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,253,420

920,644

Other debtors

1,561,898

1,580,585

Prepayments

22,522

21,241

2,837,840

2,522,470

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

1,804,563

1,076,525

Taxation

-

53,905

Social security and other taxes

161,610

126,728

VAT

132,999

317,206

Other creditors

7,259

7,165

Accrued expenses

5,775

4,496

2,112,206

1,586,025