Company Registration No. 00435273 (England and Wales)
TRIANGLE MOTOR CO. LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
TRIANGLE MOTOR CO. LIMITED
COMPANY INFORMATION
Directors
J N Hardy
J M Hardy
A C Bogg
A L Wright
J C Bogg
E L Dixon
Company number
00435273
Registered office
Newport
Brough
East Yorkshire
HU15 2RD
Auditor
Dutton Moore
Aldgate House
1-4 Market Place
Hull
East Yorkshire
HU1 1RS
Business address
Newport
Brough
East Yorkshire
HU15 2RD
TRIANGLE MOTOR CO. LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Balance sheet
9
Statement of cash flows
10
Notes to the financial statements
11 - 22
TRIANGLE MOTOR CO. LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 1 -

The directors present the strategic report for the year ended 28 February 2026.

Fair review of the business

The company has enjoyed a successful year. Whilst the company reported a small decrease in turnover, this was offset by improved margins, leading to a similar gross profit to that achieved in 2025. Careful control of costs and a pleasing return on investments contributed to the company's profit for the financial year, which reflects well on the company's ongoing policy of investment and diversification.

Whilst there continue to be challenges to be faced in the coming years, predominately the move away from the use of fossil fuels towards more sustainable alternatives, the company is well funded and is actively planning to adapt to such changes and continue with its programme of diversification.

For these reasons, the directors are confident that the company is well placed and will continue to perform in the foreseeable future.

The company's key performance indicators were as follows:

Turnover has decreased in the year by 1.6% (2025: decrease of 2.6%)

Profit before tax for the year was £297,172 (2025: £366,199)

Principal risks and uncertainties

The company endeavours to ensure that there is sufficient supply of fuel and ancillary products to meet the demand of its customers, the risk of which is managed by regular contract negotiations and renewals with the company's major suppliers. The company has also invested in its forecourt shops, car washes and other equipment in order to ensure that its customer base is maintained.

On behalf of the board

A L Wright
Director
28 July 2026
TRIANGLE MOTOR CO. LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 2 -

The directors present their annual report and financial statements for the year ended 28 February 2026.

Principal activities

The principal activity of the company was that of the selling of petrol and associated products.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J N Hardy
J M Hardy
A C Bogg
A L Wright
J C Bogg
E L Dixon
Results and dividends

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

Particulars of dividends paid are detailed in the notes to the financial statements.

Financial instruments
Treasury operations and financial instruments

The company's principal financial instruments comprise listed investments, bank balances, trade debtors and trade creditors, the purpose of which is to finance the company's operations. Due to the nature of the financial instruments, there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances, the company has sufficient funds in hand so as not to need to make use of overdraft facilities and makes use of money market and deposit facilities where funds are available. 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. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. Listed investments are managed by an external firm of stockbrokers, with holdings being regularly reviewed and monitored so that appropriate action can be taken, where necessary.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The company is exposed to fair value interest rate risk on its fixed and floating rate deposits. The company manages this risk by regularly reviewing the deposit banking products available to it. The company has no exposure to bank borrowings.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

TRIANGLE MOTOR CO. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -
Auditor

Dutton Moore are deemed to be reappointed in accordance with an elective resolution made under Section 386(1) of the Companies Act 1985 which continues in force under the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
A L Wright
Director
28 July 2026
TRIANGLE MOTOR CO. LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 4 -

The directors are responsible for preparing the annual report 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; and

- 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.

TRIANGLE MOTOR CO. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TRIANGLE MOTOR CO. LIMITED
- 5 -
Opinion

We have audited the financial statements of Triangle Motor Co. Limited (the 'company') for the year ended 28 February 2026 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 28 February 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport 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.

TRIANGLE MOTOR CO. LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TRIANGLE MOTOR CO. LIMITED
- 6 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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

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 auditor's 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.

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

- The company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the most significant laws and regulations were FRS 102, the Companies Act 2006 and taxation legislation. In addition, we considered other laws and regulations which may be fundamental to the company's ability to operate, namely health and safety and employment law. We assessed the extent of compliance with these laws and regulations as part of our audit procedures which included discussions with management.

- The susceptibility of the company's financial statements to misstatement, including fraud, was assessed. The audit team discussed how and where fraud might occur in the financial statements. We identified and considered the controls that had been put in place to prevent and detect fraud. Other audit procedures carried out included the assessment of the appropriateness of journal entries and whether any accounting estimates indicated any potential bias.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit has been properly planned and performed in accordance with auditing standards (ISAs (UK)).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

TRIANGLE MOTOR CO. LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF TRIANGLE MOTOR CO. LIMITED
- 7 -

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 an auditor's 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.

Christopher Moore FCA FCCA
Senior Statutory Auditor
For and on behalf of Dutton Moore
28 July 2026
Chartered Accountants
Statutory Auditor
Aldgate House
1-4 Market Place
Hull
East Yorkshire
HU1 1RS
TRIANGLE MOTOR CO. LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 8 -
2026
2025
Notes
£
£
Turnover
3
13,578,336
13,799,714
Cost of sales
(11,440,086)
(11,698,095)
Gross profit
2,138,250
2,101,619
Administrative expenses
(2,169,943)
(1,957,371)
Other operating income
155,442
132,402
Operating profit
4
123,749
276,650
Interest receivable and similar income
7
34,166
41,443
Amounts written off investments
8
139,257
48,106
Profit before taxation
297,172
366,199
Tax on profit
9
(105,752)
(55,732)
Profit for the financial year
191,420
310,467
Retained earnings brought forward
6,975,884
6,830,183
Dividends
10
(164,766)
(164,766)
Retained earnings carried forward
7,002,538
6,975,884

The statement of income and retained earnings has been prepared on the basis that all operations are continuing operations.

TRIANGLE MOTOR CO. LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2026
28 February 2026
- 9 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
11
3,472,634
3,139,765
Investment property
12
2,515,000
2,439,000
5,987,634
5,578,765
Current assets
Stocks
13
286,724
317,348
Debtors
14
266,910
249,687
Investments
15
781,595
724,768
Cash at bank and in hand
751,670
1,087,310
2,086,899
2,379,113
Creditors: amounts falling due within one year
16
(793,527)
(797,434)
Net current assets
1,293,372
1,581,679
Total assets less current liabilities
7,281,006
7,160,444
Provisions for liabilities
Deferred tax liability
17
265,254
171,346
(265,254)
(171,346)
Net assets
7,015,752
6,989,098
Capital and reserves
Called up share capital
19
8,292
8,292
Capital redemption reserve
4,922
4,922
Profit and loss reserves
7,002,538
6,975,884
Total equity
7,015,752
6,989,098

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 28 July 2026 and are signed on its behalf by:
A L Wright
Director
Company registration number 00435273 (England and Wales)
TRIANGLE MOTOR CO. LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 10 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
249,107
716,220
Income taxes refunded/(paid)
399
(202)
Net cash inflow from operating activities
249,506
716,018
Investing activities
Purchase of tangible fixed assets
(462,476)
(254,202)
Proceeds from disposal of tangible fixed assets
1,500
-
0
Purchase of investments
(167,364)
(119,956)
Proceeds from disposal of investments
173,794
127,028
Interest received
24,878
31,422
Dividends received
9,288
10,021
Net cash used in investing activities
(420,380)
(205,687)
Financing activities
Dividends paid
(164,766)
(164,766)
Net cash used in financing activities
(164,766)
(164,766)
Net (decrease)/increase in cash and cash equivalents
(335,640)
345,565
Cash and cash equivalents at beginning of year
1,087,310
741,745
Cash and cash equivalents at end of year
751,670
1,087,310
TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 11 -
1
Accounting policies
Company information

Triangle Motor Co. Limited is a company limited by shares incorporated in England. The registered office is Newport, Brough, East Yorkshire, HU15 2RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income from investment properties is recognised on an accruals basis.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets include investment properties which are stated by the directors at a valuation approximating to historical cost. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold buildings
Straight line between 20 and 100 years
Plant and machinery
5 - 50 years straight line
Motor vehicles
3 - 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 12 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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.

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 13 -
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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.

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 14 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
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.

1.11
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full on all material timing differences that have originated but not reversed at the balance sheet date. A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are not discounted.

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 15 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

The company contributes to a defined contribution pension scheme for the directors and certain employees. Contributions are charged to the profit and loss accounts as they become payable in accordance with the rules of the scheme.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2026
2025
£
£
Turnover analysed by class of business
Sale of petrol and associated products
13,578,336
13,799,714
2026
2025
£
£
Turnover analysed by geographical market
UK Sales
13,578,336
13,799,714
2026
2025
£
£
Other revenue
Interest income
24,878
31,422
Dividends received
9,288
10,021
TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 16 -
4
Operating profit
2026
2025
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
20,900
19,525
Depreciation of tangible fixed assets
129,607
126,368
Profit on disposal of tangible fixed assets
(1,500)
-
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Administration
15
14
Sales
71
69
Total
86
83

Their aggregate remuneration comprised:

2026
2025
£
£
Wages and salaries
1,231,517
1,147,941
Social security costs
95,702
66,491
Pension costs
106,082
85,954
1,433,301
1,300,386
6
Directors' remuneration
2026
2025
£
£
Remuneration for qualifying services
139,197
137,430
Company pension contributions to defined contribution schemes
65,950
67,724
205,147
205,154

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 4 (2025 - 4).

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 17 -
7
Interest receivable and similar income
2026
2025
£
£
Interest income
Interest on bank deposits
13,416
20,663
Other interest income
11,462
10,759
Total interest revenue
24,878
31,422
Other income from investments
Dividends received
9,288
10,021
Total income
34,166
41,443
2026
2025
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
24,878
31,422
Dividends from financial assets measured at fair value through profit or loss
9,288
10,021
8
Amounts written off investments
2026
2025
£
£
Fair value gains/(losses) on financial instruments
Gain on financial assets held at fair value through profit or loss
41,974
44,190
Other gains/(losses)
Gain on disposal of financial assets held at fair value through profit or loss
21,283
3,916
Changes in the fair value of investment properties
76,000
-
139,257
48,106
9
Taxation
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
11,844
-
0
Deferred tax
Origination and reversal of timing differences
93,908
55,732
Total tax charge
105,752
55,732
TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
9
Taxation
(Continued)
- 18 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2026
2025
£
£
Profit before taxation
297,172
366,199
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2025: 25%)
74,293
91,550
Effects of:
Gains not taxable
(19,000)
-
0
Permanent capital allowances in excess of depreciation
(21,835)
(31,397)
Revaluation of investments
(10,494)
(11,048)
Tax at marginal rate
(2,400)
-
0
Dividend income
(2,168)
(2,253)
Deferred tax
93,908
55,732
Utilisation of tax losses
(6,552)
(46,852)
Taxation charge in the financial statements
105,752
55,732
10
Dividends
2026
2025
£
£
Interim paid
164,766
164,766
11
Tangible fixed assets
Freehold buildings
Assets under construction
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2025
2,708,064
-
0
1,415,994
48,268
4,172,326
Additions
89,157
237,632
127,197
8,490
462,476
Disposals
-
0
-
0
-
0
(8,402)
(8,402)
At 28 February 2026
2,797,221
237,632
1,543,191
48,356
4,626,400
Depreciation and impairment
At 1 March 2025
270,282
-
0
740,636
21,643
1,032,561
Depreciation charged in the year
37,648
-
0
85,838
6,121
129,607
Eliminated in respect of disposals
-
0
-
0
-
0
(8,402)
(8,402)
At 28 February 2026
307,930
-
0
826,474
19,362
1,153,766
TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
11
Tangible fixed assets
Freehold buildings
Assets under construction
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
(Continued)
- 19 -
Carrying amount
At 28 February 2026
2,489,291
237,632
716,717
28,994
3,472,634
At 28 February 2025
2,437,782
-
0
675,358
26,625
3,139,765
12
Investment property
2026
£
Fair value
At 1 March 2025
2,439,000
Net gains or losses through fair value adjustments
76,000
At 28 February 2026
2,515,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year-end by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

13
Stocks
2026
2025
£
£
Goods for resale
286,724
317,348
14
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
151,282
126,696
Corporation tax recoverable
-
0
522
Other debtors
16,387
12,415
Prepayments and accrued income
99,241
110,054
266,910
249,687
15
Current asset investments
2026
2025
£
£
Listed investments
781,595
724,768

The historical cost of the listed investments was £624,783 (2025: £609,888).

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 20 -
16
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
652,906
694,429
Corporation tax
11,721
-
0
Other taxation and social security
119,941
93,728
Other creditors
8,959
9,277
793,527
797,434

Trade creditors includes a supplier balance which, at the year end, stood at £98,215 which is secured by way of a charge over part of the company's freehold property.

17
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2026
2025
Balances:
£
£
Accelerated capital allowances
230,074
162,095
Investment property revalutation
35,180
9,251
265,254
171,346
2026
Movements in the year:
£
Liability at 1 March 2025
171,346
Charge to profit or loss
93,908
Liability at 28 February 2026
265,254
18
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
106,082
85,954

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 21 -
19
Share capital
2026
2025
£
£
Ordinary share capital
Issued and fully paid
1000 A Ordinary shares of £1 each
1,000
1,000
1000 B Ordinary shares of £1 each
1,000
1,000
1856 C Ordinary shares of £1 each
1,856
1,856
1618 D Ordinary shares of £1 each
1,618
1,618
2818 E Ordinary shares of £1 each
2,818
2,818
8,292
8,292

The above share classes rank equally in every respect.

20
Capital commitments

Amounts contracted for but not provided in the financial statements:

2026
2025
£
£
Acquisition of tangible fixed assets
126,639
-
21
Directors' transactions

Dividends totalling £164,766 (2025 - £164,766) were paid in the year in respect of shares held by the company's directors.

22
Related party transactions

The directors have made loans to the company in the normal course of business and, at the year end date, were owed £8,959 (2025: £9,277) by the company in respect of such loans.

TRIANGLE MOTOR CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 22 -
23
Cash generated from operations
2026
2025
£
£
Profit after taxation
191,420
310,467
Adjustments for:
Taxation charged
105,752
55,732
Investment income
(34,166)
(41,443)
Gain on disposal of tangible fixed assets
(1,500)
-
Fair value gain on investment properties
(76,000)
-
0
Depreciation and impairment of tangible fixed assets
129,607
126,368
Other gains and losses
(63,257)
(48,106)
Movements in working capital:
Decrease in stocks
30,624
3,147
Increase in debtors
(17,745)
(24,094)
(Decrease)/increase in creditors
(15,628)
334,149
Cash generated from operations
249,107
716,220
24
Analysis of changes in net funds
1 March 2025
Cash flows
28 February 2026
£
£
£
Cash at bank and in hand
1,087,310
(335,640)
751,670
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