PRAX LIMITED

• ⚠

  Material uncertainty over going concern

  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.

• ◆

  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

• Turnover

  +88.4%

  £971,067,000 → £1,829,800,000

  highest in 4 filed years

• Cash

  -51.7%

  £37,450,000 → £18,105,000

• Net assets

  +0.4%

  £121,862,000 → £122,385,000

• Employees

  -30.1%

  684 → 478

• Operating profit

  +144%

  £18,094,000 → £44,147,000

  highest in 4 filed years

• Profit before tax

  -96.7%

  £9,868,000 → £330,000

  first positive since 2021

• Wages

  +12.9%

  £11,957,000 → £13,496,000

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

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.

1. PRAX LIMITED 2013-10-14 → present
2. MOGAS LIMITED 2003-11-13 → 2013-10-14
3. ARASAN GROUP LIMITED 2003-07-29 → 2003-11-13

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“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.”

Group structure

1. PRAX LIMITED · parent
   1. Harvest Energy Retail Group Limited 100% · UK · Holding company
   2. Harvest Energy (Dealerships) Limited 100% · UK · Operation of petrol filling stations
   3. Harvest Energy (BLA) Limited 100% · UK · Operation of petrol filling stations
   4. Harvest Retail (Holdings) Limited 100% · UK · Holding company
   5. Breeze Retail Limited 100% · UK · Operation of petrol filling stations
   6. Harvest Retail Limited 100% · UK · Operation of petrol filling stations
   7. H.K.S. Holdings Limited 100% · UK · Holding company
   8. H.K.S. Motors Limited 100% · UK · Letting of petrol filling stations
   9. H.K.S. Retail Limited 100% · UK · Operation of petrol filling stations
   10. Brobot Group Limited 100% · UK · Holding company
   11. Brobot Petroleum Limited 100% · UK · Operation of petrol filling stations
   12. Platinum Assets Investment Limited 100% · UK · Operation of petrol filling stations
   13. King Street Holdings UK Limited 100% · UK · Holding company
   14. Retail Fuels Limited 100% · UK · Operation of petrol filling stations
   15. Harvest Energie Retail GmbH 100% · Germany · Holding company
   16. OIL! Tankstellen GmbH 100% · Germany · Operation of petrol filling stations
   17. OIL! Tank & go ApS 100% · Denmark · Operation of petrol filling stations
   18. OIL! Tankstellen AG 100% · Switzerland · Operation of petrol filling stations
   19. OIL! Tankstellen GmbH 100% · Austria · Operation of petrol filling stations

Significant events

• “On 30 June 2025 State Oil Limited (SOL), the company's immediate parent, and several other companies within the wider State Oil Limited group went into administration.”
• “On 4 July 2025 two new directors were appointed to the board of the Company replacing the prior director. A sale process was initiated shortly post the appointment of the new directors for the sale of Prax Limited and its subsidiaries.”
• “Two of Prax Limited's subsidiaries (Harvest Energy (BLA) Limited and Harvest Energy (Dealerships) Limited) ceased trading post administration of SOL until August 2025.”
• “On 11 July 2025 Prax Limited entered into a new working capital financing facility in total of €50.4m, which was fully utilised as of the dates of the accounts.”
• “On 21 December 2025 Prax Limited entered into a new working capital financing facility in total of €10m, which was partly utilised.”
• “Company property was revalued in August 2025 as part of the refinancing, resulting in a valuation £20m lower than the February 25 valuation.”
• “On 28 October 2025 the Company agreed with its lenders to amend the terms of its existing facilities including the waiver of existing breaches and further changes of the commercial terms.”
• “As part of the agreements, the Company agreed the novation of certain intercompany balances in total of £27.6m owed by various Group companies to companies currently in administration.”
• “On 28 October 2025 Harvest Energy Limited (in administration) assigned to Harvest Energy Retail Limited its rights, title and interest in and to certain trademarks and intellectual property.”

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

Filings

13

last 12 months

Capital events

0

last 24 months

Officers appointed

2

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.