| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 |
| FOR |
| LESLIE'S SERVICE STATION LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 |
| FOR |
| LESLIE'S SERVICE STATION LIMITED |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 7 |
| LESLIE'S SERVICE STATION LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Exchange House |
| St. Cross Lane |
| Newport |
| Isle of Wight |
| PO30 5BZ |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| BALANCE SHEET |
| 31 DECEMBER 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The financial statements were approved by the director and authorised for issue on |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 1. | STATUTORY INFORMATION |
| Leslie's Service Station Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
| The following judgements have been made by the directors in applying the company's accounting policies: |
| Consignment stock |
| New vehicles held on consignment are included in stocks where it is considered that the significant risks and rewards of ownership have passed to the company. The directors have assessed that this applies to Mazda vehicles held on consignment. |
| Stock valuation |
| Stock valuation is regularly monitored against the age profile and market demand. Management use a number of market tools during the appraisal process including CAP valuation guides. The director maintains oversight of ageing stock profiles and a monthly review of any provision required is performed. |
| Property, plant and equipment assets |
| At each reporting date, property, plant and equipment is assessed for any indication of impairment. If such indication exists, the recoverable amount of the asset is determined based on value in use calculations which require estimates to be made of future cash flow. |
| An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
| Brand incentives |
| The company receives income in the form of various incentives which are determined by the brand partners. The amount received is generally based on achieving specific objectives such as a specific sales volume, as well as other objectives including maintaining brand partner standards which may include, but are not limited to, retail centre image and design requirements, customer satisfactions survey results and training standards. Objectives are generally set and measured on either a quarterly or annual basis. |
| Where incentives are based on a specific sales volume or number of registrations, the related income is recognised as a reduction in cost of sales when it is reasonably certain that the income has been earned. This is generally the later of the date the related vehicles are sold or registered or when it is reasonably certain that the related target will be met. Where incentives are linked to retail centre image and design requirements, customer satisfaction survey results or training standards, they are recognised as a reduction in cost of sales when it is reasonably certain the incentive will be received for the relevant period. |
| The company may also receive contributions towards advertising, promotional and rent expenditure. Where such contributions are received they are recognised as a reduction in the related expenditure in the period to which they relate. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimate useful life: |
| Freehold property | - | 2% on cost |
| Improvements to property | - | 2% on cost |
| Plant and machinery | - | 15% on reducing balance |
| Fixtures and fittings | - | 15% on reducing balance |
| Computer Equipment | - | 33% on reducing balance |
| The assets' residual values, useful lives, and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow-moving stock. |
| At each reporting date, the stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. |
| Consignment vehicles are regarded as being under the control of the company when significant risks and responsibilities of ownership are deemed to have passed to the company in accordance with FRS 102. These values are included with the stocks on the Statement of Financial Position, although legal title has not passed to the company. The corresponding liability is included as new vehicle funding and is recognised within trade creditors. |
| Financial instruments |
| The company only has basic financial instruments, which are recognised at amortised cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 5. | DEBTORS |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Amounts owed to group undertakings |
| 8. | LEASING AGREEMENTS |
| At 31 December 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £Nil (2024: £450). |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Vehicle finance | 1,304,631 | 1,465,085 |
| 1,304,631 | 1,465,085 |
| The bank account is secured by a fixed charge over the property of the company together with a fixed and floating charge over all the assets of the company. |
| Trade creditors includes amounts due under manufacturer funding plans and consignment creditors which are secured against the relevant vehicles stocks and by way of a fixed and floating charge over the assets of the company. |
| LESLIE'S SERVICE STATION LIMITED (REGISTERED NUMBER: 00864032) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | PENSION COMMITMENTS |
| The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £17,452 (2024: £19,609). Contributions totalling £10,939 (2024: £11,946) were payable to the fund at the reporting date. |
| 12. | CONTINGENT LIABILITIES |
| The company has an unlimited multilateral guarantee regarding the bank borrowings of fellow group companies. The contingent liability as at 31 December 2025 was £2,944,481 (2024: £1,714,598). |
| 13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 14. | RELATED PARTY DISCLOSURES |
| The company is related to its 100% parent company, Leslies Motors Limited, and its 100% owned fellow subsidiary undertakings; Leslie's Car Sales (I.O.W) Limited, Leslies Isle of Wight Limited and Leslies (Ventnor) Limited |
| 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. |
| All related party balances are disclosed in notes 6 and 8. |