REGISTERED NUMBER: 01207887 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

S AND M TYRES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

11

Income Statement

15

Other Comprehensive Income

16

Balance Sheet

17

Statement of Changes in Equity

18

Notes to the Financial Statements

19

DIRECTORS:

R J Whittemore

Mrs S D Whittemore

SECRETARY:

Mrs S D Whittemore

REGISTERED OFFICE:

EG Wholesale

Elite House

Star Road

Partridge Green

West Sussex

RH13 8RA

REGISTERED NUMBER:

01207887 (England and Wales)

AUDITORS:

GBJ Financial Limited

Statutory Auditor

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

SOLICITORS:

PDT Solicitors

36-48 Queen Street

Horsham

West Sussex

RH13 5AD

The directors present their strategic report for the year ended 31 January 2026.

PRINCIPAL ACTIVITY

The company's principle activity is selling tyres; we sell to the public and local businesses through nineteen fast-fit centres that trade as Elite Garages. We wholesale tyres to the motor trade across southern England as EG Wholesale.

In addition we operate nine petrol stations in West Sussex, Surrey, Hampshire and Cornwall and a supermarket which trades as Morrisons Local in Shaftesbury.

FAIR REVIEW OF THE BUSINESS

We consider the key financial performance indicators are those that communicate the financial performance and strength of the group as a whole being turnover and gross margin. The business monitors its stock levels, cash reserves and its debtor, creditor KPI's.

The products that we deal in are closely related to the price of oil and the exchange rate of the dollar, these factors along with interest rates and the effect of our competitors are the major risks and uncertainties we face.

The volume of fuel that we sold this year was down 6.4% against last year. Margin remained consistent at 11.7% vs 12.2% last year. Shop sales decreased 2.8% year-on-year. Gross margin increased to 29.4% from 29.5%.

The tyre business turnover increased by some 13.8% in the year, Gross margin decreased by 0.4% year on year. Labour continued to increase and was 5.6% higher than last year, part of the increase can be attributed to additional sites being bought on throughout the year.

Our total turnover for the year increased to £86.5m (2025 - £82.0m) an increase of 5.4% and our gross profit increased to £11.3m (2025 - £10.3m) a rise of 9.8%.

The group's policy is to consult and discuss with employees matters likely to affect employees interest.

Information about matters of concern to employees is given via information emails and bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial ,economic and environmental factors affecting the company performance.

Like all businesses we are continually reviewing our impact on the environment and seek advice from several environmental consultants to improve our environmental impact.

SECTION 172(1) STATEMENT

This section serves as our S172 statement and should be read in conjunction with the whole Strategic Report. S172 Companies Act 2006 requires directors to take into consideration the interests of stakeholders in their decision making. The directors continue to have regard to the interests of the company's employees and other stakeholders including the impact of its activities on the community, the environment and the company's reputation when making decisions. The directors consider that acting in good faith and fairly between stakeholders is most likely to promote the success of the company. Our principal stakeholders are engaged with on a regular basis.

DISABLED EMPLOYEES

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training, career development and promotion to disabled employees wherever appropriate.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The directors regularly engage with all stakeholders including customers, suppliers and other business partners. This enables the directors to enhance market focus, improve decision making and promote the long-term success of the company more effectively, and includes:

- regular engagement with major customers;

- regular meetings with major suppliers to ensure we are supporting their efforts to bring products to market at fair prices, with rigorous quality control and high levels of availability;

- regular contact with our bankers and professional advisers to discuss our strategy and performance;

- regular reviews with employees of their role in the business and how it contributes to the overall business performance.

PRINCIPAL RISKS AND UNCERTAINTIES

The risks and uncertainties in our business are affected by international exchange rates, commodity prices, Oil prices, domestic and foreign inflation and shipping costs. The business is subject to changing technological advances in the sale of Petrol and Diesel to the growth of electric vehicles. Changes in the level of competition from other tyre sellers and petrol retailers will also have a bearing.

OBJECTIVES AND POLICIES

The company does not actively use financial instruments as part of its financial risk management. The company's policy is to finance working capital through the use of loan advances. The company is exposed to the usual credit and cash flow risk associated with selling on credit. The Directors do not consider any other risks attaching to the use of financial instruments to be material to an assessment of the company's financial position or results for the year

PRICE RISK, CREDIT RISK, LIQUIDITY RISK AND CASH FLOW RISK

The business' principal financial instruments comprise bank balances, trade debtors, trade creditors and loans to the business. The main purpose of the instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility by management of credit facilities.

Trade debtors are managed in respect of credit and cash flow risk by the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

It is the company's policy to ensure settlement of supplier invoices in accordance with the stated terms. The business manages the liquidity risk by ensuring that there are sufficient funds available for operations.

FUTURE DEVELOPMENTS

Expansion of the business will continue to be a key focus across all revenue streams.

POSITION OF THE COMPANY AT YEAR END

The results for the year and the financial position at the year end were considered satisfactory by the directors who expect continued growth in the foreseeable future.

ON BEHALF OF THE BOARD:

R J Whittemore - Director

26 October 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

DIVIDENDS

No interim dividend was paid in the year. The directors recommend a final dividend of £23,000 per share.

The total distribution of dividends for the year ended 31 January 2026 will therefore be £2,300,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

R J Whittemore

Mrs S D Whittemore

STREAMLINED ENERGY AND CARBON REPORTING

Environmental Matters and Streamlined Energy and Carbon Reporting (SECR)

The company takes environmental matters seriously and continues to improve its impact on the local and wider environment.

From 1 August 2019 we are required to report under new SECVR regulations which provides increased transparency on our energy efficiency and emissions as a business.

Energy and Emissions Reporting

This section includes our mandatory reporting of energy and greenhouse gas emissions for the period 1 February 2025 to 31 January 2026, pursuant to the Companies (Directors Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, implementing the government's Streamlined Energy and Carbon Reporting (SECR) policy.

Our methodology to calculate our greenhouse gas emissions is based on the 'Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019) ,using DESNZ's 2024 and 2025 conversion factors as appropriate. In some cases, consumption has been extrapolated from available data or direct comparison made to a comparable period.

We report using an operational control approach to define our organisational boundary. We have reported all material emission sources required by the regulations for which we deem ourselves to be responsible and have maintained records of all source data and calculations.

During the reporting period, LED lighting upgrades have been implemented at our five new sites.

The table below includes total energy consumption (reported as kWh) and greenhouse gas emissions for the sources required by the regulations, along with our intensity ratio.

Mandatory Location-Based SECR Reporting Figures

01/02/2025 -31/01/2026

01/02/2024 -31/01/2025

Total Energy Consumption - Used for Emissions Calculation (kWh)

5,803,403

5,955,385

Gas Combustion Emissions, Scope 1 (tCO2e)

11.7

5.1

Purchased Electricity Emissions, Scope 2 (tCO2e)

301.8

355.5

Vehicle Fuel Combustion Emissions, Scope 1 (tCO2e)

976.3

985.8

Vehicle Electricity Emissions, Scope 2 (tCO2e)

-

-

Vehicle Fuel Combustion Emissions, Scope 3 (tCO2e)

8.9

15.0

Total Gross Reported Emissions (tCO2e)

1,298.70

1,361.40

Turnover (£m)

86.7

82.0

Intensity Ratio: Turnover (tCO2e / £m)

15.0

16.6

Gas and electricity data has been collated by our energy consultants for all utility supplies.

The data contained within the S&M Tyres Limited report incorporates all of S&M Tyres Limited and its qualifying subsidiaries.

The majority of vehicle fuel is purchased with fuel cards, all transactions have been included. Mileage has been provided for both grey fleet and personal deductions, this has been converted and included in the totals.

Bulk fuel has been calculated from delivery invoices.

Carbon multipliers, fuel densities and calorific values have all been sourced from DESNZ 2024 & 2025 conversion factors. DESNZ's 2024 & 2025 weekly road fuel prices have been utilised where only fuel spend is available.

This report (including the Scope 1, 2 and 3 consumption and CO2e emissions data) has been developed and calculated using the GHG Protocol - A Corporate Accounting and Reporting Standard (World Resources Institute and World Business Council for Sustainable Development, 2004); Greenhouse Gas Protocol - Scope 2 Guidance (World Resources Institute, 2015); ISO 14064-1 and ISO 14064-2 (ISO, 2018; ISO, 2019); Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance (HM Government, 2019).

Government Emissions Factor Database 2024 version 1.1 has been used, utilising the published kWh gross calorific value (CV) and kgCO2e emissions factors relevant for the reporting period 01/02/2025 - 31/01/2026.

Market-based emissions have been used by applying supplier specific emissions factors to the associated supplied energy (0.00 tCO2 for Bryt Energy and 0.00042 tCO2 for Drax). In addition, invoices from EDF were supplied with REGO certification, stating 0.00 tCO2

.

S&M Tyres Limited generates solar energy onsite through solar arrays installed during 2024. The arrays have generated 17,777 kWh of renewable electricity in addition to the total consumed grid-supplied electricity.

An intensity metric has been calculated using total tCO2e figures and the selected performance indicator agreed with S&M Tyres Limited for the relevant report period: Total turnover FY2026: £86.7m (FY2025: £81.99m)

SECR Highlights

Energy and Emissions Reporting

This section includes our mandatory reporting of energy and greenhouse gas emissions for the period 1 February 2025 to 31 January 2026, pursuant to the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, implementing the government's Streamlined

Energy and Carbon Reporting (SECR) policy.

Our methodology to calculate our greenhouse gas emissions is based on the 'Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019)', using DESNZ's 2025 and 2026 conversion factors as appropriate. In some cases, consumption has been extrapolated from available data or direct comparison made to a comparable period.

We report using an operational control approach to define our organisational boundary. We have reported all material emission sources required by the regulations for which we deem ourselves to be responsible and have maintained records of all source data and calculations.

Executive Summary

SECR disclosures are mandatory for listed and large unlisted UK companies with reporting cycles beginning on or after 1st April 2019.

This report summarises S&M Tyres Limited’s (S&M Tyres) energy usage, associated emissions, energy efficiency actions and energy performance under the government policy Streamlined Energy & Carbon Reporting (SECR). This is implemented by the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

Under the legislation, S&M Tyres must disclose its energy consumption, emissions, intensity metrics and all energy efficiency improvements implemented for all UK operations.

S&M Tyres is a UK-incorporated business. An operational boundary has been applied for the purposes of the reporting.

Scope 1 consumption and emissions include direct combustion of natural gas, other fuels, and fuels used for transportation operations, such as company vehicle fleets.

Scope 2 consumption and emissions cover indirect emissions related to the consumption of purchased electricity and self generated solar electricity in day-to-day business operations.

Scope 3 consumption and emissions cover emissions from sources not directly owned by S&M Tyres, i.e., grey fleet business travel undertaken in employee-owned vehicles only.

Annual Reporting Figures: Year-on-Year Changes

Electricity consumption has increased year on year, due to the acquisition of two new branches and one new warehouse.

Gross reported emissions have decreased against 2025, due to efforts made to mitigate heat loss thereby reducing requirement to heat premises.

Transport emissions have increased due to the capacity of the new warehouse enabling space for 20+ vans and additional HGVs.

Energy Efficiency Narrative

S&M Tyres Limited is committed to year-on-year improvements in its operational energy efficiency. A register of energy efficiency measures has been compiled, with a view to implementing these measures in the next five years.

Measures Undertaken In 2026

Replacement of current fleet

S&M Tyres Limited have been undertaking a gradual upgrade of their fleet vehicles, replacing old or inefficient vehicles with more efficient models.

Site meter upgrades

Where possible, S&M Tyres Limited are upgrading electricity and gas meters on site to allow better granularity of data.

Lighting upgrade

S&M Tyres Limited have undertaken a replacement programme for lighting, replacing existing light bulbs with energy-efficient LED alternatives as needed, based on bulb failure or scheduled maintenance, to improve energy consumption and reduce long term costs.

Heat loss

Measures have been implemented to reduce heat loss wherever feasible across the portfolio, such as ensuring that roller shutters are kept closed during non-operational hours or adverse weather conditions, in order to maintain internal temperature stability and improve energy efficiency.

Measures To Be Addressed In 2027

Replacement of current fleet

S&M Tyres Limited have been progressively upgrading their fleet by phasing out older or less efficient vehicles and replacing them with newer, more energy-efficient models. This initiative is part of a long-term sustainability strategy and will continue into the next year to further reduce emissions and operational costs.

Lighting upgrade

The replacement of existing light bulbs with energy-efficient LED alternatives - carried out as needed during bulb failure or scheduled maintenance - has been an effective measure to improve emissions and reduce long-term costs. This initiative will continue into the next year as part of our ongoing commitment to sustainability and operational efficiency.

DISCLOSURE IN THE STRATEGIC REPORT

Details of items required under Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Report Regulations) 2008 are provided in the Strategic Report on pages 2 and 3.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, GBJ Financial Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R J Whittemore - Director

26 October 2026

Opinion

We have audited the financial statements of S and M Tyres Limited (the 'company') for the year ended 31 January 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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 is properly planned and performed in accordance with the ISAs (UK).

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

We enquired of management concerning the Company's policies and procedures relating to:

- the identification, evaluation and compliance with laws and regulations;

- the detection and response to the risks of fraud; and

- the establishment of internal controls to mitigate risks related to fraud or non-compliance with laws and

regulations.

The Company is subject to many laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We identified the following laws and regulations as the most likely to have a material effect if non-compliance were to occur; United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006, tax legislation, anti-bribery legislation, GDPR and employment law.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by evaluating management's incentives and opportunities for manipulation of the financial statements. This included the evaluation of the risk of management override of controls. We determined that the principal risks were in relation to:

- journal entries that increased revenues or that reclassified costs from the income statement to the balance

sheet

- stock existence, completeness and valuation

- potential management bias in determining accounting estimates

- transactions with related parties.

It is the audit partner's assessment that the audit team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

We obtained an understanding of the Company's operations, including the nature of its revenue sources, products and services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. We also considered the effectiveness of the Company's control environment to identify and prevent any irregularities and fraud.

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.

Jonathan Hillier (Senior Statutory Auditor)

for and on behalf of GBJ Financial Limited

Statutory Auditor

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

26 October 2026

TURNOVER

3

86,450,965

81,987,899

Cost of sales

75,137,723

71,688,012

GROSS PROFIT

11,313,242

10,299,887

Administrative expenses

8,158,705

7,595,075

3,154,537

2,704,812

Other operating income

4

609,789

552,365

OPERATING PROFIT

6

3,764,326

3,257,177

Interest receivable and similar income

7

-

629

3,764,326

3,257,806

Interest payable and similar expenses

8

386,085

393,172

PROFIT BEFORE TAXATION

3,378,241

2,864,634

Tax on profit

9

897,019

738,509

PROFIT FOR THE FINANCIAL YEAR

2,481,222

2,126,125

PROFIT FOR THE YEAR

2,481,222

2,126,125

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,481,222

2,126,125

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

4,750,029

4,174,340

Investments

13

8,239

8,239

4,758,268

4,182,579

CURRENT ASSETS

Stocks

14

7,948,557

7,769,377

Debtors

15

14,389,634

12,460,944

Cash at bank and in hand

597,806

6,700

22,935,997

20,237,021

CREDITORS

Amounts falling due within one year

16

14,446,051

17,766,063

NET CURRENT ASSETS

8,489,946

2,470,958

TOTAL ASSETS LESS CURRENT LIABILITIES

13,248,214

6,653,537

CREDITORS

Amounts falling due after more than one year

17

(10,487,360

)

(4,287,742

)

PROVISIONS FOR LIABILITIES

20

(735,019

)

(521,185

)

NET ASSETS

2,025,835

1,844,610

CAPITAL AND RESERVES

Called up share capital

21

100

100

Retained earnings

22

2,025,735

1,844,510

SHAREHOLDERS' FUNDS

2,025,835

1,844,610

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2026 and were signed on its behalf by:

R J Whittemore - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2024

100

1,928,385

1,928,485

Changes in equity

Dividends

-

(2,210,000

)

(2,210,000

)

Total comprehensive income

-

2,126,125

2,126,125

Balance at 31 January 2025

100

1,844,510

1,844,610

Changes in equity

Dividends

-

(2,300,000

)

(2,300,000

)

Total comprehensive income

-

2,481,222

2,481,222

Balance at 31 January 2026

100

2,025,732

2,025,832

1.	STATUTORY INFORMATION

S and M Tyres 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 Company 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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of S and M Tyres Holdings Limited as at 31 January 2026 and these financial statements may be obtained from EG Wholesale, Elite House, Star Road, Partridge Green, West Sussex, RH13 8RA.

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.

Critical accounting judgements and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessor are operating or finance leases.

These decisions depend on an assessment of whether the risks and rewards of ownership have

been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the company's tangible assets. Factors

taken into consideration in reaching such a decision include the economic viability and expected

future financial performance of the asset and where it is a component of a larger cash-generating

unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty:

- Trade debtors (see note 15)

Determine the recoverability of trade receivables via regular review in the light of the available

economic information specific to each receivable with specific provisions recognised for balances

considered to be irrecoverable.

Turnover and revenue recognition

Turnover represents amounts receivable for the sale of motor vehicle parts, accessories, forecourt goods and the repair of motor vehicles, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as and when the entity satisfies a performance obligation and the significant risks and rewards of ownership have been transferred to the customer.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Amortisation method and rate - 100% in year of acquisition

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. The need for any fixed asset impairment write-down is assessed by comparison of the carrying value of the assets against the recoverable amount.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method for fuel stock. Tyre stock is valued using the average cost method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its recoverable amount being the higher of value in use and fair value less costs to sell, the impairment loss is recognised immediately in profit or loss.

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.

Financial instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are losses relating to financial liabilities are included in the Statement of Comprehensive Income. Finance presented as such in the Statement of Financial Position. Finance costs and gains or costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

Financial instruments that are derivatives are valued at each period end, and the movement in value is taken to the Statement of Comprehensive Income.

Foreign currencies

The company's functional and presentational currency is GBP.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and when fair value was determined. non-monetary items measured at fair value are measured using the exchange rate

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

The company receives income from operating leases. Receipts are credited to the profit and loss account 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.

Going concern

In preparing the financial statements the directors are required to assess the company's ability to continue to trade as a going concern for the foreseeable future.

The directors have reviewed the cash flow forecasts and based their assessment therefore believe that the company will have sufficient financing in place to ensure cash flow requirements are satisfied and that there are no material uncertainties. As such, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure to settle the obligation, taking into account relevant risk and uncertainties.

When payments are eventually made, they are charged to the provision carried in the statement of Financial Position.

3.

TURNOVER

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

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

2026

2025

£

£

Sale of goods

69,691,990

66,258,702

Rendering of services

16,758,975

15,729,197

86,450,965

81,987,899

An analysis of turnover by geographical market is given below:

2026

2025

£

£

United Kingdom

86,450,965

81,987,899

86,450,965

81,987,899

4.	OTHER OPERATING INCOME

2026

2025

£

£

Rents received

609,789

552,365

5.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

11,090,270

10,738,743

Social security costs

1,439,036

957,640

Other pension costs

209,153

326,097

12,738,459

12,022,480

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

2026

2025

Retail and workshops

349

340

Administration and support

17

13

Other departments

2

2

368

355

2026

2025

£

£

Directors' remuneration

426,282

645,467

Directors' pension contributions to money purchase schemes

4,416

27,276

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

Money purchase schemes

1

1