REGISTERED NUMBER: 02000126 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

LOURIMAR LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTOR:

R J Shortis

SECRETARY:

S P Allman

REGISTERED OFFICE:

186-200 Salhouse Road

Norwich

Norfolk

NR7 9AH

REGISTERED NUMBER:

02000126 (England and Wales)

AUDITORS:

Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

SOLICITORS:

Howes Percival

Flint Buildings

1 Bedding Lane

Norwich

Norfolk

NR3 1RG

The director presents his strategic report for the year ended 31 January 2026.

CHAIRMAN'S REPORT

Lourimar Limited, together with its fellow subsidiaries Motosave Limited (trading as Wilco Motosave) and Eastern Auto Spares (Ipswich Holdings) Limited and it's parent company Wilco Motor Spares Limited, had a combined turnover of over £24.3m, pre-tax losses of £375k and net assets of over £6.9m.

The principal activity of the company during the year was the retail trade of motor vehicle parts and accessories, along with garage services.

A comprehensive business review is available in the consolidated group financial statements of K J Shortis Limited.

The Group has had a strong increase in turnover over the past year partly due to new branches opening and a modest increase in sales in real terms and working hard to improve the margin. During the year the Group was hit in with massive increases in the living wage and employers NI increases forced upon us by the Labour Government, which affected the bottom line with additional wage cost of £1.4m.

With the average vehicle age being 9.7 years in the UK, although in East Anglia it is almost 12 years this is good for us, that means drivers are keeping their car for longer and getting it serviced or repaired at independent garages, who are our customers, rather than main dealers.

The Group has actively been looking to improve margin where possible as well as trying to improve processes with technology. More electric vans have been added to the fleet and where possible the based at branches with solar panels.

The current financial year has had uncertainty due to ongoing conflict in the Middle East which is affecting one of our main product groups that we sell, Oil. But due to the good relationships, over many years we have with our suppliers and strong financial position, we were and to bulk buy stock in advance to be able to maintain supply.

Also the cost of fuel for our vehicles has massively increases, which have comes straight off the bottom line, as we are unable to put a fuel surcharge on our deliveries.

Further changes of Labour Government and Prime Minister could upset the UK market.

.

PRINCIPAL RISKS AND UNCERTAINTIES

Business risks:

The UK Aftermarket, which has been in a state of flux for the past few years, with mergers and formations of new buying groups seems to have settled down. However independent businesses have been more active with expansion, partly due to lower interest rates. There will be opportunities and when the right opportunities arise, the group can take advantage of these opportunities, due to its strong financial position. The company can afford and hold stocks when suitable deals become available via our good supplier and customer relationships.s.

Competition:

The UK Aftermarket is a highly competitive marketplace, we have always prided ourselves on being family owned and family run, as well as being totally independent and not members to any buying groups. This allows us to differentiate ourselves from the competition, which we know our customers value. The Company manages this by continually assessing, reviewing and developing suitable systems and practises to ensure quality of service to maintain good customer relationships and competitive pricing.

Regulatory compliance risk:

The Company is subject to various laws and regulations set by local authorities and the Health and Safety Executive. The directors ensure that they are up to date and comply with all relevant areas of legislation to mitigate the risk of fines or other disciplinary actions.

Financial risk management:

The directors continually monitor the performance of the Company, trade debtors, stock levels and stock movements to minimise the financial risk of the business. In addition, the Company ensures adequate financing facilities are in place to meet the requirements of the business, along with the strong financial

strength of the Group's companies.

Financial key performance indicators

The directors consider that the key financial performance indicators are those that communicate the financial

performance and strength of the Company as a whole, these being turnover and gross margin.

Y/E 31 January 2026

Y/E 31 January 2025

£

£

Turnover

£628,799

£724,072

Gross margin

33.6%

32.3%

The directors are pleased with the results of the past year; however, the current year is very testing, due to the increase in the labour costs that have been forced onto us by the government. As with most industries, being able to recruit suitable staff has been the biggest problem. We are fortunate that we have loyal key staff to drive the group forward, to assist the group in continuing to reinvest and expand the business.

ON BEHALF OF THE BOARD:

R J Shortis - Director

30 July 2026

The director presents his report with the financial statements of the company for the year ended 31 January 2026.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2026.

DIRECTOR

R J Shortis held office during the whole of the period from 1 February 2025 to the date of this report.

FUTURE DEVELOPMENTS

Narrative for future developments is included within the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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.

AUDITORS

The auditors, Sexty & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R J Shortis - Director

30 July 2026

Opinion

We have audited the financial statements of Lourimar Limited (the 'company') for the year ended 31 January 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 January 2026 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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.

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 have made enquiries with management regarding their procedures for complying with laws and regulations along with detecting and prevent fraud. We also review minutes of meetings and any published news articles to identify any instances of non-compliance with and regulations.

Evidence has been obtained where applicable. Written representation has been obtained to confirm there have been no breaches of laws and regulations.

The audit procedures are designed so that with reasonable assurance, material misstatements can be detected, including those relating to fraud. Specifically, areas which involve provisions or estimations have been tested where material.

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 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.

I A Barlow (Senior Statutory Auditor)

for and on behalf of Sexty & Co

Chartered Certified Accountants

& Statutory Auditor

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

30 July 2026

TURNOVER

628,799

724,072

Cost of sales

417,187

490,337

GROSS PROFIT

211,612

233,735

Administrative expenses

208,995

221,077

OPERATING PROFIT and

PROFIT BEFORE TAXATION

2,617

12,658

Tax on profit

6

824

(1,161

)

PROFIT FOR THE FINANCIAL YEAR

1,793

13,819

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,793

13,819

FIXED ASSETS

Tangible assets

7

23,492

38,135

CURRENT ASSETS

Stocks

8

87,721

76,010

Debtors

9

593,307

602,705

Cash at bank

192,994

213,291

874,022

892,006

CREDITORS

Amounts falling due within one year

10

46,818

78,238

NET CURRENT ASSETS

827,204

813,768

TOTAL ASSETS LESS CURRENT LIABILITIES

850,696

851,903

PROVISIONS FOR LIABILITIES

12

3,200

6,200

NET ASSETS

847,496

845,703

CAPITAL AND RESERVES

Called up share capital

13

405,330

405,330

Retained earnings

14

442,166

440,373

SHAREHOLDERS' FUNDS

847,496

845,703

The financial statements were approved by the director and authorised for issue on 30 July 2026 and were signed by:

R J Shortis - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2024

405,330

426,554

831,884

Changes in equity

Total comprehensive income

-

13,819

13,819

Balance at 31 January 2025

405,330

440,373

845,703

Changes in equity

Total comprehensive income

-

1,793

1,793

Balance at 31 January 2026

405,330

442,166

847,496

1.	STATUTORY INFORMATION

Lourimar 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 (£) rounded to nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of K.J. Shortis Limited as at 31 January 2026 and these financial statements may be obtained from Companies House.

Related party transactions

The company has taken the disclosure exemption available as permitted by FRS 102 section 33.1A not to disclose transactions with group member companies which are also wholly owned subsidiaries within the same group.

Turnover

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

The turnover figure shown in the statement of comprehensive income relates wholly to sale of goods.

Tangible fixed assets

Plant & Machinery

- 15% straight line basis

Fixtures and fittings

-15% reducing balance

Motor vehicles

-25% reducing balance

Computer equipment

-20% straight line basis

Stocks

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

Cost comprises the average cost of all purchases.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 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.

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

104,924

98,225

Social security costs

11,893

7,958

Other pension costs

1,298

1,396

118,115

107,579

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

2026

2025

Sales and administration

5

6

2026

2025

£

£

Director's remuneration

-

-

5.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Other operating leases

19,931

29,130

Depreciation - owned assets

14,643

19,540

Auditors' remuneration

5,200

5,000

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

2026

2025

£

£

Current tax:

UK corporation tax

3,500

7,000

Under / (over) provision

324

139

Total current tax

3,824

7,139

Deferred tax

(3,000

)

(8,300

)

Tax on profit

824

(1,161

)

UK corporation tax has been charged at 23.35% (2025 - 25%).

Reconciliation of total tax charge/(credit) 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:

2026

2025

£

£

Profit before tax

2,617

12,658

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

654

3,165

Effects of:

Depreciation in excess of capital allowances

3,066

4,160

Rounding provision

26

(325

)

Deferred tax

(3,000

)

(8,300

)

Under provision in prior year

324

139

Adjustment relating to blended corporation tax rate

(246

)

-

Total tax charge/(credit)

824

(1,161

)

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2025

and 31 January 2026

12,750

38,019

66,144

854

117,767

DEPRECIATION

At 1 February 2025

3,826

32,167

42,898

741

79,632

Charge for year

1,913

878

11,771

81

14,643

At 31 January 2026

5,739

33,045

54,669

822

94,275

NET BOOK VALUE

At 31 January 2026

7,011

4,974

11,475

32

23,492

At 31 January 2025

8,924

5,852

23,246

113

38,135

8.

STOCKS

2026

2025

£

£

Stocks

87,721

76,010

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

71,185

82,708

Amounts owed by group undertakings

513,919

510,697

Prepayments and accrued income

8,203

9,300

593,307

602,705

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

32,019

48,779

Tax

3,500

7,000

Social security and other taxes

5,504

10,560

Other creditors

317

279

Accrued expenses

5,478

11,620

46,818

78,238

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

43,650

21,315

Between one and five years

174,600

-

In more than five years

189,150

-

407,400

21,315

12.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Depreciation in excess of

capital allowances

3,200

6,200

3,200

6,200

Deferred tax

£

Balance at 1 February 2025

6,200

Provided during year

(3,000

)

Balance at 31 January 2026

3,200

The deferred tax relates to depreciation in excess of capital allowances.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

405,330

Ordinary

£1

405,330

405,330

14.

RESERVES

Retained

earnings

£

At 1 February 2025

440,373

Profit for the year

1,793

At 31 January 2026

442,166

15.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme and contributions are charged in the profit and loss account as they accrue. The charge for the period was £1,298 (2025 £1,396).

16.	ULTIMATE PARENT COMPANY

The ultimate parent company is K J Shortis Limited. The direct parent company is Wilco Motor Spares Limited, a wholly owned subsidiary of K J Shortis Limited. The companies have the same registered office address.