REGISTERED NUMBER: 06978507 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

FOR

S AND M TYRES HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

10

Consolidated Income Statement

14

Consolidated Other Comprehensive Income

15

Consolidated Balance Sheet

16

Company Balance Sheet

18

Consolidated Statement of Changes in Equity

19

Company Statement of Changes in Equity

20

Consolidated Cash Flow Statement

21

Notes to the Consolidated Cash Flow Statement

22

Notes to the Consolidated Financial Statements

24

DIRECTORS:

Mrs S D Whittemore

R J Whittemore

SECRETARY:

R J Whittemore

REGISTERED OFFICE:

EG Wholesale

Elite House

Star Road, Partridge Green

Horsham

West Sussex

RH13 8RA

REGISTERED NUMBER:

06978507 (England and Wales)

AUDITORS:

GBJ Financial Limited

Statutory Auditor

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

The directors present their strategic report of the company and the group 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.

REVIEW OF 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 group's employees and other stakeholders including the impact of its activities on the community, the environment and the group'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 group. Our principal stakeholders are engaged with on a regular basis.

DISABLED EMPLOYEES

The group 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 group'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 group 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 group does not actively use financial instruments as part of its financial risk management. The group's policy is to finance working capital through the use of loan advances. The group 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 group'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 group'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 GROUP AT THE 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 and the group for the year ended 31 January 2026.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2026.

DIRECTORS

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

Mrs S D Whittemore

R J 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)

15.00

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 Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 directors are 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 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 group'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 Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2026 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, 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 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 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 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 Group 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 Group 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 Group 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 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 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 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 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 eight, 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 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 directors either intend to liquidate the group or the parent 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

8,380,650

7,791,988

2,932,592

2,507,899

Other operating income

4

609,789

552,365

OPERATING PROFIT

6

3,542,381

3,060,264

Income from other participating interests

320,370

427,706

Interest receivable and similar income

7

-

629

320,370

428,335

3,862,751

3,488,599

Interest payable and similar expenses

8

386,085

393,172

PROFIT BEFORE TAXATION

3,476,666

3,095,427

Tax on profit

9

897,019

738,509

PROFIT FOR THE FINANCIAL YEAR

2,579,647

2,356,918

Profit attributable to:

Owners of the parent

2,579,647

2,356,918

PROFIT FOR THE YEAR

2,579,647

2,356,918

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,579,647

2,356,918

Total comprehensive income attributable to:

Owners of the parent

2,579,647

2,356,918

FIXED ASSETS

Intangible assets

11

333,075

391,901

Tangible assets

12

27,146,072

21,258,279

Investments

13

Interest in joint venture

Share of gross assets

8,192,682

8,192,682

Share of gross liabilities

(4,823,520

)

(4,993,890

)

3,369,162

3,198,792

Other investments

8,239

8,239

30,856,548

24,857,211

CURRENT ASSETS

Stocks

14

7,948,557

7,769,377

Debtors

15

7,399,686

8,493,719

Cash at bank and in hand

597,806

6,700

15,946,049

16,269,796

CREDITORS

Amounts falling due within one year

16

14,381,992

17,699,505

NET CURRENT ASSETS/(LIABILITIES)

1,564,057

(1,429,709

)

TOTAL ASSETS LESS CURRENT LIABILITIES

32,420,605

23,427,502

CREDITORS

Amounts falling due after more than one year

17

(10,487,360

)

(4,287,742

)

PROVISIONS FOR LIABILITIES

19

(735,019

)

(521,185

)

NET ASSETS

21,198,226

18,618,575

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

21,198,126

18,618,475

SHAREHOLDERS' FUNDS

21,198,226

18,618,575

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

FIXED ASSETS

Intangible assets

11

411,788

470,614

Tangible assets

12

22,538,460

17,226,356

Investments

13

986,769

986,769

23,937,017

18,683,739

CREDITORS

Amounts falling due within one year

16

7,004,603

3,979,380

NET CURRENT LIABILITIES

(7,004,603

)

(3,979,380

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,932,414

14,704,359

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

16,932,314

14,704,259

SHAREHOLDERS' FUNDS

16,932,414

14,704,359

Company's profit for the financial year

2,228,054

2,263,086

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

16,261,557

16,261,657

Changes in equity

Total comprehensive income

-

2,356,918

2,356,918

Balance at 31 January 2025

100

18,618,475

18,618,575

Changes in equity

Total comprehensive income

-

2,579,647

2,579,647

Balance at 31 January 2026

100

21,198,122

21,198,222

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2024

100

12,441,173

12,441,273

Changes in equity

Total comprehensive income

-

2,263,086

2,263,086

Balance at 31 January 2025

100

14,704,259

14,704,359

Changes in equity

Total comprehensive income

-

2,228,054

2,228,054

Balance at 31 January 2026

100

16,932,313

16,932,413

Cash flows from operating activities

Cash generated from operations

1

7,980,082

2,725,806

Interest paid

(386,085

)

(393,172

)

Tax paid

(702,838

)

(611,160

)

Net cash from operating activities

6,891,159

1,721,474

Cash flows from investing activities

Purchase of intangible fixed assets

-

(36,287

)

Purchase of tangible fixed assets

(7,081,751

)

(5,226,367

)

Sale of tangible fixed assets

53,837

9,132

Interest received

-

629

Dividends received

320,370

250,000

Net cash from investing activities

(6,707,544

)

(5,002,893

)

Cash flows from financing activities

New loans in year

10,750,000

2,850,000

Loan repayments in year

(9,522,685

)

(281,124

)

Amount introduced by directors

113,494

24,323

Amount withdrawn by directors

-

(34,417

)

Net cash from financing activities

1,340,809

2,558,782

Increase/(decrease) in cash and cash equivalents

1,524,424

(722,637

)

Cash and cash equivalents at beginning of year

2

(926,618

)

(203,981

)

Cash and cash equivalents at end of year

2

597,806

(926,618

)

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

2026

2025

£

£

Profit before taxation

3,476,666

3,095,427

Depreciation charges

1,175,900

898,219

Loss on disposal of fixed assets

23,051

7,112

Finance costs

386,085

393,172

Finance income

(320,370

)

(428,335

)

4,741,332

3,965,595

Increase in stocks

(179,180

)

(2,519,220

)

Decrease/(increase) in trade and other debtors

1,059,616

(1,900,194

)

Increase in trade and other creditors

2,358,314

3,179,625

Cash generated from operations

7,980,082

2,725,806

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

597,806

6,700

Bank overdrafts

-

(933,318

)

597,806

(926,618

)

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

6,700

6,650

Bank overdrafts

(933,318

)

(210,631

)

(926,618

)

(203,981

)