REGISTERED NUMBER: 12602883 (England and Wales)

Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 31 January 2026

for

Alexanders Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

5

Consolidated Statement of Income and Retained Earnings

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Cash Flow Statement

12

Notes to the Consolidated Cash Flow Statement

13

Notes to the Consolidated Financial Statements

14

DIRECTOR:

D R Alexander

REGISTERED OFFICE:

Chapel Street Garage

Chapel Street

THORNABY

Cleveland

TS17 6BB

REGISTERED NUMBER:

12602883 (England and Wales)

SENIOR STATUTORY AUDITOR:

Martin Hobson BA (Hons) FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Great North House, 20 Allington Way

Darlington

County Durham

DL1 4QB

The director presents his strategic report of the company and the group for the year ended 31 January 2026.

REVIEW OF BUSINESS

The principal activity of the parent Company, Alexanders Holdings Limited, is that of a holding company and letting of property. The principal activities of the subsidiaries, Bob Alexander Limited and DAPRA York Limited, is the sale and repair of motor vehicles.

Both our trading companies, Bob Alexander Limited and DAPRA York Limited continue to operate profitably and at a combined level which is above the industry average.

Our dealership in Thornaby on Tees, representing the Omoda, Jaecoo, Alfa Romeo and Jeep franchises continued to experience increases in turnover of approximately 37% (£21.4m vs £15.6m) and profit before tax more than tripled (£668k vs £201k). These increases are largely due to the significant growth of the Omoda & Jaecoo franchises, where new car sales increased by over 650%.

Whilst after sales contribution showed a marginal reduction over the year, due to increased costs, the rapid growth of the Omoda and Jaecoo vehicle parc, will provide significant opportunity to grow our after sales business as the demand for service and repairs increases.

Our Nissan dealership in York (DAPRA York Ltd) experienced a similar performance to the previous year. Turnover (£20.26m vs £20.52m) and profit before tax(£541k vs £554k) were very similar to the previous year.

New and used car sales fell by approximately 5% as a consequence of an ageing model lineup, but we anticipate an improvement of this position with the launch of new Micra and new Leaf in 2026.

After sales saw a small increase in turnover, but this was offset by increased operating costs, primarily due to staffing costs which were impacted by national insurance increases.

As a consequence of the performance of the two trading companies, the turnover of Alexanders Holdings Limited increased by over 15% (£41.57m vs £35.93m) and profit before tax increased by over 70% (£1.37m vs £804k) compared to last year.

The return on sales remains comparatively high within the industry, and we are confident that both dealerships will continue to operate profitably throughout the coming year.

Our staff continue to be a key asset of the Group. They are the main reason for the high levels of customer satisfaction at both dealerships, with both operating in the top 25% of dealerships within each franchise. Overall numbers of staff remained constant through the year at 45 and we anticipate further increases to operate our growing Omoda and Jaecoo franchises on Teesside.

PRINCIPAL RISKS AND UNCERTAINTIES

Increasing costs continue to present a challenge to the Group and this is likely to continue through 2026. These increases are being experienced across nearly all areas of the business and include a significant rise in business rates, where government relief is significantly reduced. The limited availability of skilled staff also continues to be a major issue for the Group and this is likely to continue through 2026. Staff recruitment and retention is now a crucial part of our business as the supply of skilled staff in many of the roles we employ is exceeded by demand. This has led to vacancies being unfilled and staffing costs rising, both of which adversely affect the Group's performance.

The transition of the motor industry to electric vehicles is continuing to face significant headwinds, as the public demand for such vehicles remain below anticipated levels. We are hopeful that in time, manufacturer and government initiatives, will help increase the public's demand for electric and hybrid vehicles.

We remain confident that the manufacturers we represent are well placed with existing and planned new product to help drive this change. We will continue to manage these issues and are confident that our strong balance sheet and cash reserves, together with the instigation of a number of cost reduction initiatives, means we are confident the Group will be able to trade through this period.

ON BEHALF OF THE BOARD:

D R Alexander - Director

6 August 2026

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

DIVIDENDS

The total distribution of dividends for the year ended 31 January 2026 will be £116,000.

DIRECTOR

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

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

D R Alexander - Director

6 August 2026

Opinion

We have audited the financial statements of Alexanders Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2026 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 January 2026 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the Group. We communicated and identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be: motor industry regulations, FCA compliance, company law, taxation law, employment law, health and safety law, and GDPR.

- Enquiry of director and management as to policies and procedures to ensure compliance and any known instances of non-compliance.

- Enquiry of director and management as to areas of the financial statements susceptible to fraud and how these risks are managed.

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements.The key area of uncertainty are disclosed in the accounting policies.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. 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.

Martin Hobson BA (Hons) FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Great North House, 20 Allington Way

Darlington

County Durham

DL1 4QB

6 August 2026

TURNOVER

41,567,006

35,928,800

Cost of sales

(39,373,221

)

(34,378,475

)

GROSS PROFIT

2,193,785

1,550,325

Administrative expenses

(1,077,832

)

(1,064,090

)

1,115,953

486,235

Other operating income

155,855

202,779

OPERATING PROFIT

4

1,271,808

689,014

Interest receivable and similar income

122,397

129,277

1,394,205

818,291

Interest payable and similar expenses

5

(21,496

)

(13,450

)

PROFIT BEFORE TAXATION

1,372,709

804,841

Tax on profit

6

(346,234

)

(203,454

)

PROFIT FOR THE FINANCIAL YEAR

1,026,475

601,387

Retained earnings at beginning of year

5,641,993

5,316,606

Dividends

8

(116,000

)

(276,000

)

RETAINED EARNINGS FOR THE GROUP AT END OF YEAR

6,552,468

5,641,993

Profit attributable to:

Owners of the parent

1,026,475

601,387

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

1,016,388

1,041,696

Investments

11

-

-

1,016,388

1,041,696

CURRENT ASSETS

Stocks

12

4,513,590

4,710,157

Debtors

13

1,630,433

1,588,758

Investments

14

2,320,726

1,474,200

Cash at bank and in hand

1,501,021

1,551,339

9,965,770

9,324,454

CREDITORS

Amounts falling due within one year

15

(4,393,734

)

(4,684,424

)

NET CURRENT ASSETS

5,572,036

4,640,030

TOTAL ASSETS LESS CURRENT LIABILITIES

6,588,424

5,681,726

PROVISIONS FOR LIABILITIES

18

(34,866

)

(38,643

)

NET ASSETS

6,553,558

5,643,083

CAPITAL AND RESERVES

Called up share capital

19

720

720

Capital redemption reserve

20

370

370

Retained earnings

20

6,552,468

5,641,993

SHAREHOLDERS' FUNDS

6,553,558

5,643,083

The financial statements were approved by the director and authorised for issue on 6 August 2026 and were signed by:

D R Alexander - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

1,365,175

1,373,275

Investments

11

361

361

1,365,536

1,373,636

CURRENT ASSETS

Debtors

13

562,444

623,452

Cash at bank

299,289

124,683

861,733

748,135

CREDITORS

Amounts falling due within one year

15

(2,043,317

)

(2,022,103

)

NET CURRENT LIABILITIES

(1,181,584

)

(1,273,968

)

TOTAL ASSETS LESS CURRENT LIABILITIES

183,952

99,668

CAPITAL AND RESERVES

Called up share capital

19

720

720

Retained earnings

183,232

98,948

SHAREHOLDERS' FUNDS

183,952

99,668

Company's profit for the financial year

200,284

195,250

The financial statements were approved by the director and authorised for issue on 6 August 2026 and were signed by:

D R Alexander - Director

Cash flows from operating activities

Cash generated from operations

1

1,044,297

1,382,539

Interest paid

(21,496

)

(13,450

)

Tax paid

(195,563

)

(233,006

)

Net cash from operating activities

827,238

1,136,083

Cash flows from investing activities

Purchase of tangible fixed assets

(37,427

)

(177,630

)

Purchase of current asset investments

(846,526

)

(1,474,200

)

Interest received

122,397

129,277

Net cash from investing activities

(761,556

)

(1,522,553

)

Cash flows from financing activities

Equity dividends paid

(116,000

)

(276,000

)

Net cash from financing activities

(116,000

)

(276,000

)

Decrease in cash and cash equivalents

(50,318

)

(662,470

)

Cash and cash equivalents at beginning of year

2

1,551,339

2,213,809

Cash and cash equivalents at end of year

2

1,501,021

1,551,339

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

2026

2025

£

£

Profit before taxation

1,372,709

804,841

Depreciation charges

58,578

49,564

Loss on disposal of fixed assets

4,157

2,981

Finance costs

21,496

13,450

Finance income

(122,397

)

(129,277

)

1,334,543

741,559

Decrease/(increase) in stocks

196,567

(174,976

)

(Increase)/decrease in trade and other debtors

(41,675

)

175,366

(Decrease)/increase in trade and other creditors

(445,138

)

640,590

Cash generated from operations

1,044,297

1,382,539

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 31 January 2026

31.1.26

1.2.25

£

£

Cash and cash equivalents

1,501,021

1,551,339

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

1,551,339

2,213,809

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.25

Cash flow

At 31.1.26

£

£

£

Net cash

Cash at bank and in hand

1,551,339

(50,318

)

1,501,021

1,551,339

(50,318

)

1,501,021

Liquid resources

Current asset investments

1,474,200

846,526

2,320,726

1,474,200

846,526

2,320,726

Total

3,025,539

796,208

3,821,747

1.	STATUTORY INFORMATION

Alexanders Holdings 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 General Information page.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of consolidation

The financial statements consolidate the financial statements of Alexanders Holdings Limited and its subsidiaries: Bob Alexander Limited and Dapra York Limited.

All of the entities' financial statements are made up to 31 January 2026 and transactions between the group companies have been eliminated on consolidation.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Stock provisions - management applies procedures to identify defective, slow moving and obsolete stock. An estimation is made of the price obtainable in the market in which the goods are expected to be sold and any costs of completion of sale are taken into account. The value of stock is reduced by the deficit between cost and estimated net realisable value of the stock in the form of a stock provision.

Turnover

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

Income recognition

Vehicle income is recognised when a contract for the sale of goods is determined as unconditional.

Parts and workshop income is recognised at the point that the goods are delivered or the service is provided.

Manufacturer bonuses are recognised at the points that the sales targets have been achieved by the conditions set out,by the vehicle manufacturer, and per the terms and conditions of their agreement. The most significant target will relate to achieving a certain volume of sales within a prescribed amount of time.

Rental income is recognised in accordance with the contractual terms of the lease.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been fully amortised over its estimated useful life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

not provided

Long leasehold

-

2% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

30% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost and 33% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses.

The director considers that the freehold property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The director performs annual impairment reviews in accordance with FRS 102 to ensure that the carrying value is not lower than the recoverable amount.

Impairment policy

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Capital grants

Capital grants received to fund the acquisition or construction of tangible fixed assets are recognised when there is reasonable assurance that the conditions attached to the grant will be met and that the grant will be received. Grants are measured at fair value and are recognised as deferred income on the balance sheet. The deferred income is released to the profit and loss account on a systematic basis over the useful economic life of the related asset, to match the depreciation charge of that asset. Where a grant becomes repayable, the repayment is recognised immediately in accordance with the terms of the grant.

Stocks

Stocks and work in progress for vehicles are valued at the lower of cost and net realisable value, using the first in first out method, after making due allowance for obsolete and slow moving items.

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

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments

The investments are mostly held in liquid funds which can be accessed at short notice. Current asset investments are held at market value.

Consignment stock

Consignment stock is recognised in stock and as a corresponding creditor in the financial statements. These represent vehicles that are due for delivery by the manufacturer.They are recognised at the point of a vehicle being ordered and they leave the liability account when they are delivered on site and the vehicle invoiced.

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.

3.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

1,612,522

1,541,788

Social security costs

196,787

148,903

Other pension costs

42,475

151,755

1,851,784

1,842,446

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

2026

2025

Employees including directors

45

45

2026

2025

£

£

Director's remuneration

11,725

11,950

Director's pension contributions to money purchase schemes

-

120,000

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

Money purchase schemes

1

1

Only the director is considered to be key management personnel.

4.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Depreciation - owned assets

58,578

49,564

Loss on disposal of fixed assets

4,157

2,981

Auditors' remuneration

27,788

24,638

Property operating leases

105,352

94,500

Other operating leases

1,980

3,547

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2026

2025

£

£

HMRC Interest

2,880

-

Floor plan interest

18,616

13,450

21,496

13,450

6.

TAXATION

Analysis of the tax charge

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

2026

2025

£

£

Current tax:

UK corporation tax

350,011

179,790

Deferred tax

(3,777

)

23,664

Tax on profit

346,234

203,454

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:

2026

2025

£

£

Profit before tax

1,372,709

804,841

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

343,177

201,210

Effects of:

Expenses not deductible for tax purposes

1,031

218

Depreciation in excess of capital allowances

2,026

2,026

Total tax charge

346,234

203,454

7.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.

DIVIDENDS

2026

2025

£

£

Ordinary shares of £1 each

Interim

80,000

80,000

Ordinary A shares of £1 each

Interim

-

160,000

Ordinary B shares of £1 each

Interim

36,000

36,000

116,000

276,000

9.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

200,000

AMORTISATION

At 1 February 2025

and 31 January 2026

200,000

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

-