For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Best Autocentres Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Richs Sidings, Lower Broadway, Didcot, Oxfordshire, OX11 8AG.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Best Autocentres Ltd is a wholly owned subsidiary of The Figaro Shop Holdings Limited and the results of Best Autocentres Ltd are included in the consolidated financial statements of The Figaro Shop Holdings Limited which are available from Rich Sidings, Lower Broadway, Didcot, Oxfordshire, United Kingdom, OX11 8AG.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT.

Revenue from the sale of vehicle parts is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), 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.

Revenue from contracts for the provision of motor repair services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Revenue from MOT services is recognised when the MOT has been carried out.

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Assets in the course of construction are not depreciated.

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.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

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.

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.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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

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

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

Basic financial assets, which include debtors, loans to group companies 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.

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

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

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.

The tax expense represents the sum of the tax currently payable and deferred 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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

Assets with a carrying value of £56,884 were hived up from fellow group companies as part of an internal group reorganisation.

During the year, the company acquired 100% of the share capital of The Tyrebarn Ltd and Alltecnique Limited. Deferred consideration of £791,437 was due regarding these acquisitions as at the year end, and is shown within other creditors falling due within one year.

Details of the company's subsidiaries at 31 January 2026 are as follows:

Included within amounts owed by group undertakings falling due within one year is £591,057 (2025 - £1,148,386) due from The Figaro Shop Holdings Limited.

Included within amounts owed by group undertakings falling due within one year is £nil (2025 - £36,842) due from E A Recovery & Contracting Services Limited.

No interest is being charged on these amounts and they are due for repayment on demand.

Included within amounts owed to group undertakings falling due within one year is £146,483 (2025 - £76,981) due to The Figaro Shop Limited. No interest is being charged on this amount and it is due for repayment on demand.

Included within amounts owed to group undertakings falling due within one year is £100 (2025 - £nil) due to The Tyrebarn Ltd. No interest is being charged on this amount and it is due for repayment on demand.

Included within amounts owed to group undertakings falling due within one year is £88,834 (2025 - £nil) due to Alltecnique Limited. No interest is being charged on this amount and it is due for repayment on demand.

Included within amounts owed to group undertakings falling due within one year is £100 (2025 - £nil) due to E A Recovery & Contracting Services Limited. No interest is being charged on this amount and it is due for repayment on demand.

Included within other creditors falling due within one year is £791,437 (2025 - £nil) of deferred consideration for the acquisition of 100% of the share capital of The Tyrebarn Ltd and Alltecnique Limited.

A debenture, dated 22 December 2023 containing a fixed and floating charge over all assets of The Figaro Shop Holdings Limited and its subsidiaries, The Figaro Shop Limited, Best Autocentres Ltd, Station Tyres & Service Centre Limited and E A Recovery & Contracting Services Limited, is held by HSBC Bank Plc as security for the Group’s banking facilities. At the year end, the total amount due to HSBC Bank Plc by the group was £2,194,676 (2025 - £1,359,599), which includes the amounts due on the Recovery Loan Scheme.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

During the period between the year end and approval of these accounts, the company acquired 100% of the shareholding in Youngs Service & Repair Centre Ltd and Blue Peter Garage Limited for a combined consideration of £2,015,056.

During the period between the year end and approval of these accounts, the company is in advanced negotiations to acquire100% of the shareholding in another limited company for an estimated consideration of £445,000.

During the period between the year end and approval of these accounts, the company acquired the trade and assets of an unincorporated business for £225,000.

During the year the company entered into the following transactions with related parties:

During the year, The Tyrebarn Ltd, a subsidiary company, transferred its trade, assets and liabilities to the company as part of an internal group reorganisation. The net assets were transferred at their carrying value, totalling £710,575.

E A Recovery & Contracting Services Limited, a fellow group subsidiary, also transferred substantially all of its operating assets and liabilities to the company as part of an internal group reorganisation. The net assets were transferred at their carrying value, totalling £87,294.