REGISTERED NUMBER: 02619098 (England and Wales)

Triangle of Chesterfield Limited

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the year ended

31 October 2025

Page

Company Information

1

Group Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

9

Consolidated Statement of Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

to

17

Notes to the Consolidated Financial Statements

18

to

32

DIRECTORS:

D J Dench

M A Ellis

S A Harrison

S V Paine

SECRETARY:

S V Paine

REGISTERED OFFICE:

6 Duke Street

Whittington Moor

Chesterfield

Derbyshire

S41 9AD

REGISTERED NUMBER:

02619098 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Suite 4

New Kings Court

Tollgate

Eastleigh

SO53 3LG

The directors present their strategic report of the company and the group for the year ended 31 October 2025.

The principal activity of the Group continues to be that of a Franchised Kia Motor Dealership.

REVIEW OF BUSINESS

The results for the year ended 31 October 2025 show a 2% rise in turnover compared to the previous year resulting from both growth in the New Electric Vehicle market and in Used Vehicle sales.

The Groups performance in new car sales remains strong with all of our sales volume targets being achieved in the year and our gross profit per unit consistent with 2024.

After sales performance in the year to 2025 was strong returning an increase in both turnover and gross profit.

We have returned a profit before tax of £163,817 which is up on the previous year. The Group also made a significant contribution to the Directors Pension Scheme in the year to provide additional funding for the development of the Groups trading premises of which the Directors Pension Scheme is the landlord. In August 2025 work commenced to establish a new after sales service and repair centre along with dedicated facilities for the operation of a Franchised Kia Electric Van Centre which commenced trading in January 2026.

The Groups liquidity is strong with healthy bank balances, and our interest coverage remains positive.

PRINCIPAL RISKS AND UNCERTAINTIES

We have an established risk management process to identify, assess, and monitor the principal risks that we face as a business.

The principal risks identified this year were inflationary pressures within the economy. We have kept a close eye on our cost base and have taken appropriate decisions to ensure we deliver strong performance in a challenging economic climate.

It is our intention to continue to improve all aspects of our business over the coming years and to maintain profitability, whilst ensuring that our customers continue to enjoy the highest level of service available.

The Group's activities expose it to a number of financial risks including price risk, credit risk, liquidity, and cash flow risk. The successful establishment of the new dedicated after sales facility and Franchised Kia Van Centre is a significant investment in the future of the business supporting the continued growth of all sales channels, particularly in the electric vehicle market.

Price risk

The Group's principal activity is that of a Franchised Kia Motor Dealership with new vehicle pricing set by the manufacturer and UK distributor. As a main dealer the Group is given a set margin deduction against retail price, either fixed or as fixed percentage of retail price when we purchase new vehicles from the UK distributor. We work within these margins in determining the prices that we sell new vehicles onto customers. Used vehicle pricing is guided by the marketplace, this is taken into account when taking in part exchange vehicles and buying vehicles into stock.

Credit risk

The Group's principal credit risk relates to vehicles held on stocking plans with Hyundai Capital and Lloyds UDT which are secured against the vehicles on each stocking plan. This is constantly monitored by the directors and vehicle assets are always maintained at level in excess of liability.

Liquidity and cash flow risk

In order to maintain liquidity and ensure that funds are available for ongoing operations and future development, the Group maintains a healthy bank balance. The cash flow performance of the company is monitored on a regular basis with the directors monitoring longer term requirements to ensure that all obligations and financial liabilities will be met.

ON BEHALF OF THE BOARD:

D J Dench - Director

28 October 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 October 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

D J Dench

M A Ellis

S A Harrison

S V Paine

DISCLOSURE IN THE STRATEGIC REPORT

As permitted by Paragraph 1A of schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and reports) Regulations 2008 certain matters which are required to be disclosed in the directors' report have been omitted as they are included in the strategic report instead. These matters relate to Business review, Future developments, Key performance indicators and Financial instruments in relation to Principal risks and uncertainties.

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;

-	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, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Dench - Director

28 October 2026

Opinion

We have audited the financial statements of Triangle of Chesterfield Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2025 which comprise the Consolidated Statement of 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 October 2025 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 four, 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.

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant so specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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.

Richard Gillespie FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

Statutory Auditor

Suite 4

New Kings Court

Tollgate

Eastleigh

SO53 3LG

28 October 2026

TURNOVER

3

23,728,756

23,217,739

Cost of sales

21,732,485

21,323,954

GROSS PROFIT

1,996,271

1,893,785

Administrative expenses

1,596,407

1,541,762

OPERATING PROFIT

5

399,864

352,023

Interest receivable and similar income

35,419

30,094

435,283

382,117

Interest payable and similar expenses

6

271,466

331,344

PROFIT BEFORE TAXATION

163,817

50,773

Tax on profit

7

42,654

30,060

PROFIT FOR THE FINANCIAL YEAR

121,163

20,713

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

121,163

20,713

Profit attributable to:

Owners of the parent

121,163

20,713

Total comprehensive income attributable to:

Owners of the parent

121,163

20,713

FIXED ASSETS

Tangible assets

10

313,399

292,919

Investments

11

-

-

313,399

292,919

CURRENT ASSETS

Stocks

12

4,872,072

4,817,856

Debtors

13

485,343

544,956

Cash at bank and in hand

2,986,980

2,967,164

8,344,395

8,329,976

CREDITORS

Amounts falling due within one year

14

(5,067,951

)

(5,112,785

)

NET CURRENT ASSETS

3,276,444

3,217,191

TOTAL ASSETS LESS CURRENT LIABILITIES

3,589,843

3,510,110

CREDITORS

Amounts falling due after more than one year

15

(54,470

)

(101,963

)

PROVISIONS FOR LIABILITIES

19

(56,063

)

(50,000

)

NET ASSETS

3,479,310

3,358,147

CAPITAL AND RESERVES

Called up share capital

20

181,000

181,000

Share premium

21

15,000

15,000

Retained earnings

21

3,283,310

3,162,147

SHAREHOLDERS' FUNDS

3,479,310

3,358,147

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2026 and were signed on its behalf by:

D J Dench - Director

FIXED ASSETS

Tangible assets

10

313,399

292,919

Investments

11

-

-

313,399

292,919

CURRENT ASSETS

Stocks

12

4,397,018

4,635,866

Debtors

13

480,661

544,198

Cash at bank and in hand

2,932,914

2,905,033

7,810,593

8,085,097

CREDITORS

Amounts falling due within one year

14

(4,741,174

)

(5,014,138

)

NET CURRENT ASSETS

3,069,419

3,070,959

TOTAL ASSETS LESS CURRENT LIABILITIES

3,382,818

3,363,878

CREDITORS

Amounts falling due after more than one year

15

(54,470

)

(101,963

)

PROVISIONS FOR LIABILITIES

19

(56,063

)

(50,000

)

NET ASSETS

3,272,285

3,211,915

CAPITAL AND RESERVES

Called up share capital

20

181,000

181,000

Share premium

21

15,000

15,000

Retained earnings

21

3,076,285

3,015,915

SHAREHOLDERS' FUNDS

3,272,285

3,211,915

Company's profit for the financial year

60,370

9,946

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2026 and were signed on its behalf by:

D J Dench - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 November 2023

181,000

3,141,434

15,000

3,337,434

Changes in equity

Total comprehensive income

-

20,713

-

20,713

Balance at 31 October 2024

181,000

3,162,147

15,000

3,358,147

Changes in equity

Total comprehensive income

-

121,163

-

121,163

Balance at 31 October 2025

181,000

3,283,310

15,000

3,479,310

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 November 2023

181,000

3,005,969

15,000

3,201,969

Changes in equity

Total comprehensive income

-

9,946

-

9,946

Balance at 31 October 2024

181,000

3,015,915

15,000

3,211,915

Changes in equity

Total comprehensive income

-

60,370

-

60,370

Balance at 31 October 2025

181,000

3,076,285

15,000

3,272,285

Cash flows from operating activities

Cash generated from operations

1

300,239

(65,055

)

Tax paid

(12,060

)

(119,880

)

Net cash from operating activities

288,179

(184,935

)

Cash flows from investing activities

Purchase of tangible fixed assets

(188,223

)

(182,245

)

Sale of tangible fixed assets

54,342

69,846

Interest received

35,419

30,094

Net cash from investing activities

(98,462

)

(82,305

)

Cash flows from financing activities

New loans in year

4,657,999

4,497,877

Loan repayments in year

(4,497,877

)

(4,179,839

)

Interest paid

(271,466

)

(331,344

)

Finance lease advanced/ (repaid) in year

(58,557

)

94,706

Amount withdrawn by directors

-

(4,500

)

Net cash from financing activities

(169,901

)

76,900

Increase/(decrease) in cash and cash equivalents

19,816

(190,340

)

Cash and cash equivalents at beginning of year

2

2,967,164

3,157,504

Cash and cash equivalents at end of year

2

2,986,980

2,967,164

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

2025

2024

as restated

£

£

Profit before taxation

163,817

50,773

Depreciation charges

113,402

56,963

Increase in provsion

13,909

-

Finance costs

271,466

331,344

Finance income

(35,419

)

(30,094

)

527,175

408,986

(Increase)/decrease in stocks

(54,217

)

69,543

Decrease/(increase) in trade and other debtors

59,613

(56,571

)

Decrease in trade and other creditors

(232,332

)

(487,013

)

Cash generated from operations

300,239

(65,055

)

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 October 2025

31.10.25

1.11.24

£

£

Cash and cash equivalents

2,986,980

2,967,164

Year ended 31 October 2024

31.10.24

1.11.23

as restated

£

£

Cash and cash equivalents

2,967,164

3,157,504

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.11.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank and in hand

2,967,164

19,816

2,986,980

2,967,164

19,816

2,986,980

Debt

Finance leases

(120,323

)

58,557

(61,766

)

Debts falling due within 1 year

(4,497,877

)

(160,122

)

(4,657,999

)

(4,618,200

)

(101,565

)

(4,719,765

)

Total

(1,651,036

)

(81,749

)

(1,732,785

)

1.	STATUTORY INFORMATION

The Triangle of Chesterfield 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.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest £.

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.

Going concern

The financial statements have been prepared on the going concern basis, on the basis that the directors consider the group will have sufficient cash flow and available resources to continue to operate for at least 12 months from the approved date of these financial statements.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertaking drawn up to 31 October 2025.

The subsidiary undertaking is included using the acquisitions method of accounting. Under this method the group profit and loss account and statement of cashflows include the results and cashflows of subsidiary from the date of acquisition up to the date of sale outside the group in the case of disposals of subsidiary. The purchase consideration has been allocated to the assets and liabilities on the basis of fair value at the date of acquisition.

Parent company disclosure exemptions

In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102:

- No cash flow statement has been presented for the parent company;

- Disclosures in respect of the parent company's financial instruments have not been presented as equivalent disclosures have been provided in respect of the group as a whole;

- No disclosure has been given of the key management personnel of the parent company as their remuneration is included in the totals for the group as a whole; and

- Only one reconciliation of the number of shares outstanding at the beginning and end of the period has been presented as the reconciliation's for the group and the parent company would be identical.