The directors present the strategic report for the year ended 31 October 2025.

We are pleased to report another profitable period, with profit before tax rising to £1.1m (2024: £0.6m). Turnover decreased by 10% to £27.4m (2024: £30.5m, as restated), with finance and warranty commission income also decreasing slightly to £0.9m (2024: £1.0m). Gross profit was £4.2m (2024: £5.1m), a margin of 15.2% (2024: 16.7%). We have significantly reduced our overheads, with administrative expenses falling to £2.9m (2024: £4.2m), principally through lower staff costs and operating lease charges, and this has more than offset the lower gross profit. Operating profit increased to £1.3m (2024: £0.8m).

Our average employee numbers have decreased to 32 (2024: 43) and related staff costs have decreased accordingly to £1.5m (2024: £2.1m).

We have continued to manage our stock levels carefully, reducing the value of stock held to £7.4m (2024: £7.6m).

At the year end net assets were £5.2m (2024: £5.1m), net current assets were £4.0m (2024: £0.8m) and bank loans and overdrafts were £2.5m (2024: £2.5m). Dividends of £678,000 were paid during the year (2024: £543,000). The 2024 comparative figures have been restated, as explained in note 26.

The directors of the company continue to monitor key metrics and will make decisions which they feel will benefit the business, its employees, its suppliers and its customers. Treating customers fairly remains a high priority for us as a business and we expect to provide our usual exemplary service for many years to come.

We acknowledge that we have an obligation of environmental responsibility, and seek to lessen the amount of water and energy consumed, as well as the volume of non-recyclable waste we generate.

The principal risks facing the company are consumer demand and used car values, which affect both sales margins and the value of our stock; the regulatory environment for motor finance, including the FCA’s review of commission arrangements and the availability of funding to finance our stock.

Financial Risks

The company’s operations expose it to a limited number of financial risks, primarily credit risk and liquidity risk.

Liquidity Risk

The company regularly forecasts cash flow to ensure that sufficient funds are available for operational requirements. This is supplemented with appropriate banking facilities. The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future (see note 1.2).

Policy on Payments to Suppliers

The company agrees clear terms and conditions with suppliers in advance and payment is made according to those terms.

Our People

The company believes that its people drive its success. We continue to invest in the development of skills within the business through learning resources and training. The involvement of its employees is highly valued, and they are kept informed on issues affecting them as employees and the company as a whole.

Disabled Employees

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitude of the applicant concerned. In the event of employees becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate and relevant training is arranged. It is the policy of the company that training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Human Trafficking and Anti-Slavery Statement

The company is committed to ensuring that it is free from modern slavery both within its own business and its supply chain, in compliance with the Modern Slavery Act 2015, and will ensure transparency within the organisation and with suppliers of services and goods to the organisation. All suppliers must confirm compliance, and we may audit supply chains to ensure adherence. We expect our suppliers to respect human rights, including maintaining policies and procedures to prevent the use of child or forced labour and we refuse to support or deal with any business knowingly involved in slavery or human trafficking. The company directors and senior management shall take responsibility for enhancing this policy statement and its objectives, and will provide adequate training to ensure that, wherever possible, slavery and human trafficking is not taking place within the organisation or within its supply chains.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 October 2025.

The principal activity of the company continued to be that of used car sales.

Ordinary dividends were paid amounting to £678,000. The directors do not recommend payment of a further dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The directors are responsible for preparing the annual report 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; and

• 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.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

We have audited the financial statements of Rix Motor Company Limited (the 'company') for the year ended 31 October 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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 October 2025 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 directors' report.

We have nothing to report in respect of the following matters in relation to which 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.

As explained more fully in the directors' responsibilities statement, 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 is 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.

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 an auditor's report 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.

Capability of the audit in detecting irregularities, including fraud

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.

Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to breaches of the legal and regulatory framework that the company operates in. We considered the extent to which non-compliance might have a material effect on the financial statements. The key laws and regulations we considered in this context included UK Companies Act 2006, employment law, health and safety and tax legislation.

We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the posting of inappropriate journal entries to manipulate financial results and potential management bias in accounting estimates.

As a result of the above, our audit procedures performed included:

• Discussions with management and those charged with governance in relation to known or suspected instances of non-compliance with laws and regulation and fraud.

• Agreeing financial statements disclosures to underlying supporting documentation and assessing compliance with relevant laws and regulations.

• Testing the appropriateness of journal entries and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

• Assessing whether the judgements made in making accounting estimates are indicative of a potential bias.

• Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above. The test nature and other inherent limitations of an audit, together with the inherent limitations of any accounting and internal control system, mean that there is an unavoidable risk that even some material misstatements in respect of irregularities may remain undiscovered even though the audit is properly planned and performed in accordance with ISAs (UK).

We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Our examination should therefore not be relied upon to disclose all such material misstatements or frauds, errors or instances of non-compliance that might exist. The responsibility for safeguarding the assets of the company and for the prevention and detection of fraud, error and non-compliance with law or regulations rests with the directors of Rix Motor Company Limited.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Rix Motor Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Rix Motor Co Ltd, Hawleys Lane, Warrington, WA2 8JP.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

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

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Rix Motor Company Holdings Limited. These consolidated financial statements are available from its registered office, Hawleys Lane, Warrington, United Kingdom, WA2 8JP.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue is measured at the fair value of the consideration received or receivable, net of value added tax, trade discounts and returns. Revenue is recognised when it can be measured reliably, it is probable that the economic benefits will flow to the company, and the specific criteria below have been met.

Sale of vehicles

Revenue from the sale of vehicles is recognised when the significant risks and rewards of ownership have passed to the customer, which is when the sale is complete and the vehicle has been delivered to or collected by the customer. Where a vehicle has been invoiced or a deposit received but the sale is not complete at the reporting date, no revenue is recognised and any amounts received are held as deferred income. Vehicles taken in part-exchange are recognised at fair value as part of the consideration received.

Finance commissions

The company acts as an intermediary and introduces customers to third-party finance providers. Commission is recognised when the finance agreement has been entered into and the vehicle sale is complete. Where commission is subject to clawback on early settlement or cancellation, a provision for expected repayments is made.

Warranty commissions

The company provides its own warranty to customers, with the income recognised over the period which the warranty covers.

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

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

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Fixed asset investments are initially measured at cost, including directly attributable acquisition costs, and subsequently measured at cost less any accumulated impairment losses. Investments are not depreciated. They are assessed for impairment at each reporting date, and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes purchase and reconditioning costs.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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

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

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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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

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

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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

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

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

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements in applying accounting policies

Point at which vehicle sales are recognised

Revenue on vehicle sales is recognised when the sale is complete and the significant risks and rewards of ownership have passed to the customer. The directors judge this to be the point at which the sale documentation is complete, funding is confirmed and the vehicle has been delivered to or collected by the customer. Deals invoiced but not complete at the year end are treated as not yet sold. This judgement affects the timing of turnover and profit between periods.

Commission income

Finance commissions are subject to clawback dependent upon the agreements made with the finance providers. When calculating the provision management utilises the historical claw back profile to determine the provision required.

Key sources of estimation uncertainty

The directors consider that there are no key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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

Their aggregate remuneration comprised:

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Freehold and leasehold land and buildings, and other tangible fixed assets, are subject to the security described in note 17.

The details of the above transaction are set out in note 24.

Stocks are subject to the floating charge under the debenture described in note 17.

The bank loans and overdrafts are secured by a debenture dated 8 April 2022, which gives the bank fixed charges over the company’s land, fixtures and fittings, plant and machinery, goodwill and certain other assets, and a floating charge over all other assets of the company. They are also secured by legal charges dated 6 September 2022 over the freehold and leasehold properties at Hawleys Lane and Athlone Road, Warrington.

The following are the major deferred tax liabilities and assets recognised by the company:

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The company’s ordinary shares are divided into A, B, C, D and E ordinary shares of £1 each.

Save as to dividends, the B, C, D and E ordinary shares rank pari passu in all other respects with the A ordinary shares.

The Company is not directly involved in the selling of finance products to consumers; instead it refers consumers to third parties who administer and are responsible for the finance product themselves. Since the investigations by the FCA into apparent mis-selling were announced, the Directors have not considered that provisions are required to be made in respect of any exposures, on the basis that lenders are responsible for any redress scheme.

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

During the year the company made purchases from Carfinance247 Limited, a company owned by close family members of the directors, amounting to £19,013 (2024: £296,309) and sales of £113,588 (2024: £207,989).

On 7 February 2025 the company sold an investment property with a carrying amount of £3,000,000, to J Rix, the company secretary, for £3,000,000, no gain or loss arose. No balance was outstanding at 31 October 2025 (2024: £2,000,340 owed to J Rix).

The following advances were made to directors during the year. All balances are unsecured, interest-free and repayable on demand. No amounts were written off or waived.

Charles Rix – advances of £454,000 were made and £401,077 was repaid or credited. £152,923 was owed to the company at 31 October 2025 (2024: £100,000).

Reg Rix – advances of £419,156 were made and £274,179 was repaid or credited. £194,977 was owed to the company at 31 October 2025 (2024: £50,000).

Henry Rix – advances of £207,000 were made and £47,927 was repaid or credited. £194,073 was owed to the company at 31 October 2025 (2024: £35,000).

In total, £1,080,156 of advances were made to directors during the year and £723,183 was repaid or credited. The total owed by directors at 31 October 2025 was £541,973 (2024: £185,000). No guarantees were given on behalf of directors and no provision has been made against these balances.

The company is a subsidiary undertaking of Rix Motor Company Holdings Limited, a company incorporated in England and Wales. Rix Motor Company Holdings Limited is the ultimate controlling party and parent undertaking of the smallest and the largest group of undertakings for which group financial statements are drawn up and of which the company is a member.

Copies of the group financial statements of Rix Motor Company Holdings Limited are available from its registered office, Hawleys Lane, Warrington, WA2 8JP.