H.K.S. RETAIL LIMITED

• ◆

  Audit opinion: Disclaimer of opinion

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101 Reduced Disclosure Framework

Reporting scope

Standalone (parent only)

Auditor

PKF Littlejohn LLP

Audit opinion

Disclaimer of opinion

Going concern

Affirmed

“The above conditions indicate the existence of a material uncertainty related to going concern as conditions and events that cast significant doubt on the entity's ability to realize its assets and discharge its liabilities in the normal course of business. Having considered all known factors, the Directors believe that the actual and forecasted trading performance and the actual and expected cash generation supports their decision to prepare the financial statements on a going concern basis. The Company is reliant on the support pledged from its parent entity Prax Limited, as Prax Limited operates a centralised treasury function for the UK retail business subsidiaries of which H.K.S. Retail Limited is one. As a result of this committed support and the Directors' assessment of the ability of the parent to provide such support, these financial statements have been prepared on a going concern basis.”

Significant events

• “On 30 June 2025 State Oil Limited and several other companies within the wider group headed by State Oil Limited went into administration.”
• “On 4 July 2025 a new director was appointed to the board of the Company replacing the previous director.”
• “A sale process for the Retail business was initiated shortly post the appointment of the new director for the sale of the Company.”
• “The Company made a fundamental change to our Retail operating model during the year, moving from a predominantly company-owned, company operated (COCO) to a full company-owned, dealer operated (CODO) model across all our company owned assets. This was successfully completed in February 2025.”
• “Company freehold property was revalued at 28 February 2025 which resulted in a gain of £997,656. In a subsequent valuation in August 2025, the value has reduced.”
• “Intra group trade receivables owed by parts of the State Oil Group in administration will be recovered in full and as such £1.1m has been written off in these financial statements.”
• “On 28 October 2025 Prax Limited agreed with its lenders to amend the terms of its existing facilities including inter alia the waiver of existing breaches and further changes of the commercial terms of the existing facilities.”
• “In October 2025 the Group further revised terms of its facilities, as part of the changes the syndicate of banks agreed to provide the Group with an additional facility in total of €10m with the same guarantees and commitments as above. €7m of the additional facility were used in December 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -6.1%

  £171,281,513 → £160,866,698

• Cash

  -37.4%

  £999,542 → £625,516

• Net assets

  +5.8%

  £9,505,750 → £10,056,509

• Employees

  -26.8%

  276 → 202

• Operating profit

  -25.6%

  £6,582,369 → £4,894,817

• Profit before tax

  -32.1%

  £6,338,078 → £4,303,053

• Wages

  -26.7%

  £5,022,714 → £3,681,108

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers