Company registration number 05467462 (England and Wales)
J & P HARRIS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
J & P HARRIS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
J & P HARRIS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
377,000
2,259,000
Current assets
Debtors
3
216,015
-
0
Cash at bank and in hand
246,622
10,693
462,637
10,693
Creditors: amounts falling due within one year
5
(43,619)
(277,671)
Net current assets/(liabilities)
419,018
(266,978)
Total assets less current liabilities
796,018
1,992,022
Creditors: amounts falling due after more than one year
6
-
(822,130)
Provisions for liabilities
(4,507)
(86,769)
Net assets
791,511
1,083,123
Capital and reserves
Called up share capital
7
200
200
Share premium account
702,162
702,162
Revaluation reserve
16,500
260,308
Profit and loss reserves
72,649
120,453
Total equity
791,511
1,083,123

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 November 2025 and are signed on its behalf by:
Mr P E Harris
Director
Company registration number 05467462 (England and Wales)
J & P HARRIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

J & P Harris Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Accounting convention

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents received in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Investment properties

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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

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.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction p rice. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.5
Taxation

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

Current 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.

J & P HARRIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

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.

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.

1.6
Retirement benefits

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

2
Employees

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

2025
2024
Number
Number
Total
2
2
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
216,015
-
0
4
Investment property
2025
£
Fair value
At 1 July 2024
2,259,000
Disposals
(1,882,000)
At 30 June 2025
377,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 June 2025 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

J & P HARRIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
-
0
11,622
Other creditors
40,866
263,949
Accruals and deferred income
2,753
2,100
43,619
277,671
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
-
0
822,130
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
-
210,268
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
200
200
200
200
8
Directors' transactions

Dividends totalling £44,000 (2024 - £16,000) were paid in the year in respect of shares held by the company's directors.

The director s operate a current loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding to the directors was £40,866 (20 2 4 - £263,949); t hese amounts being included in creditors: amounts falling due within one year.

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