The director presents the strategic report for the year ended 31 October 2025.

DRS Kent Limited has continued to deliver a strong financial performance during the year, maintaining its position as a leading provider of commercial and domestic vehicle recovery services throughout the South East and the wider UK recovery sector. Turnover remained relatively consistent at £10.7 million (Restated 2024: £11.5 million), whilst the business generated an operating profit of £2.6 million (Restated 2024: £2.7 million) with the main variation to 2024 being as a result of the profit and loss on disposal of assets. Profit before taxation amounted to £2.0 million (Restated 2024: £2.2 million). Net assets increased to £5.7 million (Restated 2024: £4.2 million), reflecting the continued strength of the business and its underlying asset base.

I consider the underlying performance of the business to remain exceptionally robust. Adjusted EBITDA, calculated before depreciation and profits or losses arising on the disposal of fleet assets, remained strong, increasing to £3.0 million for the year ended 31 October 2025 (2024: £2.6 million). This demonstrates the resilience of the Company's core trading operations and highlights the consistency of earnings despite significant prior year restatements and accounting adjustments.

During the year, a comprehensive review of historic accounting treatments was undertaken, resulting in adjustments to prior year figures relating to accounting misclassifications and the reassessment of residual values applied across the Company's specialist recovery fleet. Whilst these adjustments impacted comparative results and reserves, they do not reflect any deterioration in the underlying trading performance of the business. I believe these changes have strengthened the quality of financial reporting and provide a more accurate representation of the Company's financial position and asset values going forward.

The Company's financial position remains strong, supported by a substantial investment in fleet assets and a consistent cash-generative business model. Tangible fixed assets totalled £14.0 million at the year end, reflecting the continued commitment to maintaining a modern, industry-leading fleet capable of meeting increasing customer demands and contract requirements. There are further changes expected to the fleet in the coming months with 8 smaller vehicles being sold as well as 1 heavy going up for sale by this autumn. The fleet continues to have very strong residuals values, especially on the heavies and therefore there is minimal loss expected on the sales which enables further investment into new and improved vehicle fleet.

The principal risks facing the business continue to include economic conditions, labour availability, fuel costs, operating expenses, and the requirement to maintain sufficient capacity to meet customer demand. The Company actively manages these risks through ongoing investment in people, equipment, technology and operational processes.

The business also remains exposed to financing risks arising from its extensive fleet investment programme. However, these risks are mitigated through strong and long-standing relationships with finance partners who continue to support the Company's strategic growth plans and ongoing fleet development.

The outlook for DRS Kent Limited remains highly positive.

The Company continues to secure new business opportunities and strengthen existing customer relationships, including the acquisition of additional contracts associated with the Highways and related infrastructure activities. The Company’s reputation for best-in-class customer service has also led to further expansion and growth securing new contracts with more of the major players in the industry. As a result, management expects turnover to continue its upward trajectory, increasing to approximately £12 million for the financial year 2026, with further growth anticipated through 2027 and 2028.

The Company has invested in a new state of the art website, which is expected to go live by the end of the Summer 2026 and is anticipated to drive more traffic and brand awareness to the existing customer base but also domestic customers that perhaps have not been as aware of the Company as we would have liked in the past.  

To support this growth, the Company remains committed to investing in its fleet and operational infrastructure. The continued support of its finance partners enables the Company to remain at the forefront of recovery vehicle technology, ensuring the fleet remains one of the most advanced within the sector. This commitment to innovation allows the business to provide a first-class recovery service and maintain its reputation as a market leader.

A key milestone in the Company's development strategy is the planned opening of two new operational facilities during 2027, a new storage site at Wrotham to support one of the main new contracts and the new head office at Dartford. The additional premises will provide much-needed operational space and significantly enhance the Company's ability to expand its activities. I believe this investment will create substantial opportunities for future growth, improve operational efficiencies and support increasing customer demand.

The Company's fleet continues to demonstrate exceptionally strong resale values, significantly outperforming historic assumptions used within the accounting estimates. The business strategy is to continue leveraging its fleet not only to support day-to-day trading operations but also to actively manage vehicle replacement cycles. By recycling assets at the optimum point in their lifecycle, the Company is able to maximise resale proceeds while ensuring the fleet remains modern, efficient and equipped with the latest advancements in recovery technology.

This disciplined asset management strategy contributes to the Company's strong EBITDA performance, supports cash generation and allows DRS Kent Limited to maintain a competitive advantage within the marketplace. I remain confident that, supported by strong trading performance, stable Adjusted EBITDA generation, a growing contract pipeline, ongoing investment in technology and fleet assets, and the planned expansion into a new facility, the Company is well positioned to deliver sustained growth and continued success in the years ahead.

On behalf of the board

The director presents his annual report and financial statements for the year ended 31 October 2025.

The principal activity of the company in the year under review was that of providing breakdown services for commercial and domestic vehicles.

Ordinary dividends were paid amounting to £85,000. The director does not recommend payment of a final dividend.

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

The donations made by the Directors are charitable contributions to local charities and amateur clubs. None are of a political nature.

In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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. He is 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.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

We have audited the financial statements of DRS Kent Limited (the 'company') for the year ended 31 October 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows 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 director's 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 director 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 director is 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the director's 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 director's 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 director's 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 director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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.

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

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements.

During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity:

Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Tax and Pensions legislation, and distributable profits legislation.

Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include health and safety legislation, VAT legislation, transport and fleet regulations.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed.

Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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 member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

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

DRS Kent Limited is a private company limited by shares incorporated in England and Wales. The registered office is 391/395 Erith Road, Northumberland Heath, Erith, Kent, DA8 3LT.

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.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

• Vehicle recovery services

• Sale of motor vehicles

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Income from recovery services of vehicles are recognised upon the completion of the service.

Income from sale of vehicles used within the trade is recognised as and when control of the vehicle is passed on.

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.

Assets under construction

Assets under construction are accounted for at cost, based on the value of work undertaken up until the period end. They are not depreciated until the accounting period in which they are brought into use.

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.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

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 director is 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.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assets are depreciated based upon their resale values on an open market basis. The residual values are determined on a number of factors; current market values of the specific assets, the resale value of similar assets currently on an open market and actual historical vehicle sales made by the company.

Depreciation is charged at 10% reducing balance basis on the difference between historical cost and the residual value.

For non vehicle assets, the residual value is generally considered to be £nil unless otherwise noted as they generally have no resale value at the end of the useful life for the company.

Depreciation on non vehicle assets are charged at varying rates based upon their useful economic lives.

All assets are reviewed at regular intervals for instances of impairment.

An analysis of the company's turnover is as follows:

The total revenue of the company for the year has been derived from its principal activity wholly undertaken in the United Kingdom.

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:

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

Assets held under hire purchase agreements are security for the agreements to which they relate.

Creditors due after 5 years relate to hire purchase agreements which are repayable by instalments at a fixed rate of interest.

Finance lease payments represent rentals payable by the company for certain items of motor vehicles and equipment. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments. These loans are secured over the motor vehicle to which the loan relates to.

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

Deferred tax is expected to unwind upon the disposal of the assets to which the advance capital allowances relate.

Tax losses have arisen as a result of capital allowance claims on the assets of the company. These losses have been set against the corresponding deferred tax liabilities arising on those same assets.

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 ordinary shares have full rights to voting, dividends and distributions on winding up.

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:

Amounts contracted for but not provided in the financial statements:

Dynes Motor Group Ltd

Dynes Motor Group Ltd is a company under common control to the company.

During the year, the company made sales to Dynes Motor Group Ltd totalling £98,668 (2024: £773)

During the year, the company made purchases from Dynes Motor Group Ltd totalling £467,315 (2024: £474,343). Included within these purchases, is £120,000 (2024: £120,000) recharged in respect of salary of Mr A Nock, the company director.

As at 31 October 2025, Dynes Motor Group Ltd owed the company £77,618 (2024: £nil)

Dynes Tyre Services Ltd

Dynes Tyre Services Ltd is a company under common control to the company.

During the year, the company made sales to Dynes Tyre Services Ltd totalling £41,035 (2024: £29,969)

During the year, the company made purchases from Dynes Tyre Services Ltd totalling £135,644 (2024: £123,587).

As at 31 October 2025, Dynes Tyre Services Ltd owed the company £239,777 (2024: £251,883).

A & J Plant Hire (Southern) Limited

A & J PLant Hire (Southern) Limited is a company under common control to the company.

During the year, the company made sales to A & J Plant Hire (Southern) Limited totalling £125,049 (2024: £100,876)

During the year, the company made purchases from A & J Plant Hire (Southern) Limited totalling £284,650 (2024: £193,662).

As at 31 October 2025, the company owed A & J Plant Hire (Southern) Limited £9,368 (2024: A & J Plant Hire (Southern) Limited owed £108,443).

Dynes Holdings (Kent) Ltd

Dynes Holdings (Kent) Ltd is a company under common control to the company.

During the year, the company made sales to Dynes Holdings (Kent) Ltd totalling £nil (2024: £nil).

During the year, the company made purchases from Dynes Holdings (Kent) Ltd totalling £nil (2024: £nil).

As at 31 October 2025, Dynes Holdings (Kent) Ltd owed the company £264,445 (2024: £nil).

Dividends totalling £85,000 (2024 - £0) were paid in the year in respect of shares held by the company's directors.

During the year, the company made loans to Mr A Nock totalling £nil (2024: £310,003). Repayments totalling £310,003 (2024: £nil) have been made. As at the year end the director owed the company £nil (2024: £310,003). This figure includes interest charged at the official rate of 2.25% to 5 April 2025 and 3.75% thereafter.

The ultimate controlling party is Mr A Nock, the sole director and shareholder.

There was an error in the residual values used leading to excessive depreciation charges in prior periods.

On review of stock, items relating to motor vehicles under construction had been shown as stock. These have been recategorised as assets under construction.

There were errors where assets which had been disposed of in prior periods were still included on the asset register. Errors were also identified in relation to assets under construction that had been recognised within motor vehicles when the assets were not yet complete or in use.

The loans made to the director were incorrectly presented within the VAT balance in the accounts during the audit and has been correctly adjusted for this year.

Deferred Tax was mispresented in the financial statements as losses created by capital allowances and not trades were not taken into account when assessing advanced capital allowances.

Hire purchase liabilities were previously misstated due to vehicles purchased were expected to be ready prior to the year end and so were added to the hire purchase ledgers in readiness. These needed to be reversed back to creditors from the hire purchase ledgers to agree the substance of the transactions.

Other debtors included items which are no longer recoverable and the point they were no longer recoverable was several years prior. Part of this adjustment also relates to items owed by a connected company historically shown as other debtors.

Adjustments to prepayments relates to items which should have been released to the profit and loss account in prior years.

Cost of sales & profit/loss on disposal of assets

Trading in motor vehicles was incorrectly recognised with the profit/loss on disposal of assets rather than as turnover and cost of goods sold.

Accruals

Accruals were not included within the accounts at the year end.

Trade debtors

The trade debtor balances reported included credit balances which were due back to customers and should have been presented as creditors.

Trade creditors

Trade creditors included debit balances due back from suppliers and should have been presented as debtors.