REGISTERED NUMBER: 02731415 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

BILLING SERVICE STATION LTD.

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

14

DIRECTORS:

D Patel

S Patel

SECRETARY:

S Patel

REGISTERED OFFICE:

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

REGISTERED NUMBER:

02731415 (England and Wales)

AUDITORS:

Ad Valorem Audit Services Limited

Chartered Certified Accountants

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

The directors present their strategic report for the year ended 30 November 2025.

REVIEW OF BUSINESS

The company continued its main activities of retailing automotive fuel and convenience store operation.

Overall turnover increased comprising of increases in fuel turnover. The quantity of fuel sold was flat but significant increases in the oil price drove selling prices of fuel to unprecedented levels. Shops and Services, continued to deliver strong results.

Billing Service Station Ltd achieved sales of £13,023,042 (2024 : £12,757,463) and delivered pre tax profit of £585,943 (2024 : £522,819). Expenses continue to be tightly controlled in comparison to budget, and business rates relief continued to assist the profitability of the company.

The net assets as at the year end were £5,418,922 (2024 : £4,980,585).

PRINCIPAL RISKS AND UNCERTAINTIES

Downturns in economic environment and worldwide increase in fuel prices have historically been the biggest threat to the filling station industry. The company is exposed to changes in Government Policy in the market in which we operate such as changes in fuel prices, changes in sale of aged and time restricted products, tax law and in the legislation around sensitive data management.

All of these risks are closely monitored and under constant review in order to mitigate any risks, with outcomes

such as adjusting of headcount during a period of economic uncertainty.

FINANCIAL RISK

The company currently has a secured borrowing of £473,142.. The loan quantum is not considered to put the company at serious risk of being unable to meet its payments, even in the event of a steep interest rate rise.

The business is exposed to a variety of financial risks including the effects of changes in interest rates, credit risk and client liquidity risk. The business' principal financial instrument comprise cash and bank deposits, that arise directly from its operations.

The company's principal financial assets are intercompany receivables, which represent the Company's major exposure to credit risk in relation to its financial assets.

REGULATORY

By virtue of the fact that the company sells some age-restricted products, legislative actions could potentially adversely affect it. These policies are reviewed regularly to make sure the company is not exposed to any new or changed threats.

ON BEHALF OF THE BOARD:

D Patel - Director

11 August 2026

The directors present their report with the financial statements of the company for the year ended 30 November 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 November 2025.

DIRECTORS

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

D Patel

S Patel

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 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 company's auditors are aware of that information.

AUDITORS

The auditors, Ad Valorem Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D Patel - Director

11 August 2026

Opinion

We have audited the financial statements of Billing Service Station Ltd. (the 'company') for the year ended 30 November 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Company's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud.

We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Company. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:

- Employment legislation, reflecting the Company's workforce

- Health and safety regulation, reflecting the Company's production, distribution and operating processes

- Data privacy, reflecting the Company's management of personal and corporate data

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Company determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations

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.

Zubair Arshad FCCA (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

Chartered Certified Accountants

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

11 August 2026

TURNOVER

3

13,023,040

12,757,462

Cost of sales

11,566,025

11,427,831

GROSS PROFIT

1,457,015

1,329,631

Administrative expenses

904,529

856,058

552,486

473,573

Other operating income

85,738

82,959

OPERATING PROFIT

5

638,224

556,532

Interest receivable and similar income

134

430

638,358

556,962

Interest payable and similar expenses

6

52,415

34,143

PROFIT BEFORE TAXATION

585,943

522,819

Tax on profit

7

147,606

127,399

PROFIT FOR THE FINANCIAL YEAR

438,337

395,420

OTHER COMPREHENSIVE INCOME

Gain on revaluation of investment

property

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

438,337

395,420

FIXED ASSETS

Tangible assets

8

4,637,791

4,564,367

Investments

9

110,000

110,000

Investment property

10

558,001

558,001

5,305,792

5,232,368

CURRENT ASSETS

Stocks

11

133,408

132,500

Debtors

12

1,902,843

1,849,260

Cash at bank and in hand

24,854

70,580

2,061,105

2,052,340

CREDITORS

Amounts falling due within one year

13

1,388,396

1,734,755

NET CURRENT ASSETS

672,709

317,585

TOTAL ASSETS LESS CURRENT LIABILITIES

5,978,501

5,549,953

CREDITORS

Amounts falling due after more than one year

14

(463,142

)

(494,407

)

PROVISIONS FOR LIABILITIES

17

(96,437

)

(74,961

)

NET ASSETS

5,418,922

4,980,585

CAPITAL AND RESERVES

Called up share capital

18

2

2

Revaluation reserve

19

196,816

196,816

Retained earnings

19

5,222,104

4,783,767

SHAREHOLDERS' FUNDS

5,418,922

4,980,585

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2026 and were signed on its behalf by:

D Patel - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 December 2023

2

4,388,347

196,816

4,585,165

Changes in equity

Total comprehensive income

-

395,420

-

395,420

Balance at 30 November 2024

2

4,783,767

196,816

4,980,585

Changes in equity

Total comprehensive income

-

438,337

-

438,337

Balance at 30 November 2025

2

5,222,104

196,816

5,418,922

Cash flows from operating activities

Cash generated from operations

1

722,088

603,020

Interest paid

(52,415

)

(34,143

)

Tax paid

(134,720

)

(130,995

)

Net cash from operating activities

534,953

437,882

Cash flows from investing activities

Purchase of tangible fixed assets

(115,229

)

-

Sale of tangible fixed assets

8,000

-

Interest received

134

430

Net cash from investing activities

(107,095

)

430

Cash flows from financing activities

New loans in year

30,000

500,000

Loan repayments in year

(499,785

)

(1,153,461

)

Amount introduced by directors

971

23,043

Net cash from financing activities

(468,814

)

(630,418

)

Decrease in cash and cash equivalents

(40,956

)

(192,106

)

Cash and cash equivalents at beginning of year

2

(73,205

)

118,901

Cash and cash equivalents at end of year

2

(114,161

)

(73,205

)

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

2025

2024

£

£

Profit before taxation

585,943

522,819

Depreciation charges

23,798

17,464

Loss on disposal of fixed assets

10,007

-

Finance costs

52,415

34,143

Finance income

(134

)

(430

)

672,029

573,996

Increase in stocks

(908

)

(4,168

)

Increase in trade and other debtors

(97,496

)

(1,925

)

Increase in trade and other creditors

148,463

35,117

Cash generated from operations

722,088

603,020

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 30 November 2025

30/11/25

1/12/24

£

£

Cash and cash equivalents

24,854

70,580

Bank overdrafts

(139,015

)

(143,785

)

(114,161

)

(73,205

)

Year ended 30 November 2024

30/11/24

1/12/23

£

£

Cash and cash equivalents

70,580

118,901

Bank overdrafts

(143,785

)

-

(73,205

)

118,901

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/12/24

Cash flow

At 30/11/25

£

£

£

Net cash

Cash at bank and in hand

70,580

(45,726

)

24,854

Bank overdrafts

(143,785

)

4,770

(139,015

)

(73,205

)

(40,956

)

(114,161

)

Debt

Debts falling due within 1 year

(562,433

)

482,433

(80,000

)

Debts falling due after 1 year

(424,407

)

31,265

(393,142

)

(986,840

)

513,698

(473,142

)

Total

(1,060,045

)

472,742

(587,303

)

1.	STATUTORY INFORMATION

Billing Service Station Ltd. 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 as modified by the revaluation of certain assets.

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 cost

Motor vehicles

-

25% on reducing balance

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at 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.

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 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.

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.

TURNOVER

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

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

2025

2024

£

£

Sales of goods

13,003,533

12,738,057

Commissions receivable

19,507

19,405

13,023,040

12,757,462

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

522,845

541,617

Social security costs

37,747

22,618

Other pension costs

18,240

7,322

578,832

571,557

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

2025

2024

Forecourt & shop staff

18

19

Administration

2

2

20

21

2025

2024

£

£

Directors' remuneration

54,000

51,300

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

23,798

17,464

Loss on disposal of fixed assets

10,007

-

Auditors' remuneration

16,500

15,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

20,506

7,577

Loan

31,909

26,566

52,415

34,143

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

126,130

134,720

Deferred tax

21,476

(7,321

)

Tax on profit

147,606

127,399

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS

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

2025

2024

£

£

Profit before tax

585,943

522,819

Profit multiplied by the standard rate of corporation tax in the UK of 21.526% (2024 - 25.768%)

126,130

134,720

Effects of:

Effect of movement in deferred tax

21,476

(7,321

)

Total tax charge

147,606

127,399

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 November 2025.

2024

Gross

Tax

Net

£

£

£

Gain on revaluation of investment

property

-

-

-

8.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 December 2024

4,515,118

52,670

37,579

4,605,367

Additions

-

83,654

31,575

115,229

Disposals

-

-

(37,579

)

(37,579

)

At 30 November 2025

4,515,118

136,324

31,575

4,683,017

DEPRECIATION

At 1 December 2024

-

30,822

10,178

41,000

Charge for year

-

13,088

10,710

23,798

Eliminated on disposal

-

-

(19,572

)

(19,572

)

At 30 November 2025

-

43,910

1,316

45,226

NET BOOK VALUE

At 30 November 2025

4,515,118

92,414

30,259

4,637,791

At 30 November 2024

4,515,118

21,848

27,401

4,564,367

9.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2024

and 30 November 2025

110,000

NET BOOK VALUE

At 30 November 2025

110,000

At 30 November 2024

110,000