IRIS Accounts Production v25.4.0.155 04401619 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities wholesale grocers. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 04401619 2024-03-31 04401619 2025-03-31 04401619 2024-04-01 2025-03-31 04401619 2023-03-31 04401619 2023-04-01 2024-03-31 04401619 2024-03-31 04401619 ns15:EnglandWales 2024-04-01 2025-03-31 04401619 ns14:PoundSterling 2024-04-01 2025-03-31 04401619 ns10:Director1 2024-04-01 2025-03-31 04401619 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04401619 ns10:MediumEntities 2024-04-01 2025-03-31 04401619 ns10:Audited 2024-04-01 2025-03-31 04401619 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 04401619 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04401619 ns10:FullAccounts 2024-04-01 2025-03-31 04401619 1 2024-04-01 2025-03-31 04401619 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 04401619 ns10:Director2 2024-04-01 2025-03-31 04401619 ns10:Director3 2024-04-01 2025-03-31 04401619 ns10:Director4 2024-04-01 2025-03-31 04401619 ns10:RegisteredOffice 2024-04-01 2025-03-31 04401619 ns10:Director5 2024-04-01 2025-03-31 04401619 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 04401619 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 04401619 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 04401619 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04401619 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 04401619 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 04401619 ns5:CurrentFinancialInstruments 2025-03-31 04401619 ns5:CurrentFinancialInstruments 2024-03-31 04401619 ns5:Non-currentFinancialInstruments 2025-03-31 04401619 ns5:Non-currentFinancialInstruments 2024-03-31 04401619 ns5:ShareCapital 2025-03-31 04401619 ns5:ShareCapital 2024-03-31 04401619 ns5:SharePremium 2025-03-31 04401619 ns5:SharePremium 2024-03-31 04401619 ns5:NetGoodwill 2024-04-01 2025-03-31 04401619 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 04401619 ns5:LeaseholdImprovements 2024-04-01 2025-03-31 04401619 ns5:FurnitureFittings 2024-04-01 2025-03-31 04401619 ns5:MotorVehicles 2024-04-01 2025-03-31 04401619 ns15:UnitedKingdom 2024-04-01 2025-03-31 04401619 ns15:UnitedKingdom 2023-04-01 2024-03-31 04401619 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-04-01 2025-03-31 04401619 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-04-01 2024-03-31 04401619 ns5:OwnedAssets 2024-04-01 2025-03-31 04401619 ns5:OwnedAssets 2023-04-01 2024-03-31 04401619 ns5:LeasedAssets 2024-04-01 2025-03-31 04401619 ns5:LeasedAssets 2023-04-01 2024-03-31 04401619 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 04401619 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 04401619 11 2024-04-01 2025-03-31 04401619 11 2023-04-01 2024-03-31 04401619 ns5:HirePurchaseContracts 2024-04-01 2025-03-31 04401619 ns5:HirePurchaseContracts 2023-04-01 2024-03-31 04401619 ns5:NetGoodwill 2024-03-31 04401619 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 04401619 ns5:NetGoodwill 2025-03-31 04401619 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 04401619 ns5:NetGoodwill 2024-03-31 04401619 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 04401619 ns5:LeaseholdImprovements 2024-03-31 04401619 ns5:FurnitureFittings 2024-03-31 04401619 ns5:MotorVehicles 2024-03-31 04401619 ns5:LeaseholdImprovements 2025-03-31 04401619 ns5:FurnitureFittings 2025-03-31 04401619 ns5:MotorVehicles 2025-03-31 04401619 ns5:LeaseholdImprovements 2024-03-31 04401619 ns5:FurnitureFittings 2024-03-31 04401619 ns5:MotorVehicles 2024-03-31 04401619 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2024-03-31 04401619 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2025-03-31 04401619 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 04401619 ns5:MotorVehicles ns5:LeasedAssetsHeldAsLessee 2024-03-31 04401619 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 04401619 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 04401619 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2025-03-31 04401619 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2024-03-31 04401619 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-03-31 04401619 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-03-31 04401619 ns5:WithinOneYear ns5:HirePurchaseContracts 2025-03-31 04401619 ns5:WithinOneYear ns5:HirePurchaseContracts 2024-03-31 04401619 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2025-03-31 04401619 ns5:WithinOneYear ns5:CurrentFinancialInstruments ns5:HirePurchaseContracts 2024-03-31 04401619 ns5:WithinOneYear 2025-03-31 04401619 ns5:WithinOneYear 2024-03-31 04401619 ns5:BetweenOneFiveYears 2025-03-31 04401619 ns5:BetweenOneFiveYears 2024-03-31 04401619 ns5:AllPeriods 2025-03-31 04401619 ns5:AllPeriods 2024-03-31 04401619 ns5:AcceleratedTaxDepreciationDeferredTax 2025-03-31 04401619 ns5:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04401619 ns5:DeferredTaxation 2024-03-31 04401619 ns5:DeferredTaxation 2024-04-01 2025-03-31 04401619 ns5:DeferredTaxation 2025-03-31 04401619 ns10:OrdinaryShareClass1 2025-03-31 04401619 ns5:SharePremium 2024-03-31

REGISTERED NUMBER: 04401619 (England and Wales)

I A HARRIS AND SON LTD

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

Page |

| Company information | 1 |

| Strategic report | 2 |

| Report of the directors | 3 |

| Report of the independent auditors | 5 |

| Statement of income and retained earnings | 8 |

| Balance sheet | 9 |

| Cash flow statement | 10 |

| Notes to the cash flow statement | 11 |

| Notes to the financial statements | 13 |

| I A HARRIS AND SON LTD |

COMPANY INFORMATION

for the year ended 31 March 2025

| DIRECTORS: | R D Harris

| D C Smith

| K Marshall

| Mrs L A Smith

| REGISTERED OFFICE: | Lygon House

| 50 London Road

| Bromley

| Kent

| BR1 3RA

| REGISTERED NUMBER: | 04401619 (England and Wales)

| AUDITORS: | Berringers LLP

| Chartered Accountants

| and Statutory Auditors

| Lygon House

| 50 London Road

| Bromley

| Kent

| BR1 3RA

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

STRATEGIC REPORT

for the year ended 31 March 2025

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

REVIEW OF BUSINESS

The principal activity of the company was the wholesale supply of fruit and vegetables.

Results

The results for the year and financial position of the company are shown in the attached accounts. The following represents an overview:

Turnover has decreased slightly to £13,016,429 from £13,695,748. A gross profit percentage for the year of 20.04% was achieved, an increase on the 2024 figure of 16.91%.

Post tax profits amounted to £316,127 compared to £168,491 for the previous year.

Net assets at 31 March 2025 stood at £949,307 an increase on the previous year total of £864,180.

Key performance indicators

There are certain key performance indicators used - turnover movement allied with gross profit margins; direct wage costs as a percentage of turnover; stable senior staff providing ongoing experience.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in a highly competitive and price driven market. Performance can be related to product quality, correct stock levels ensuring produce does not deteriorate and an ability to supply customers at the required time at a competitive price.

The main financial risks faced relate to credit risk and price variability in the supply chain caused by variable weather conditions in any year affecting levels of available supply and hence price. Credit control procedures and gross profit margins are closely monitored by the board in order to minimise such risks.

ON BEHALF OF THE BOARD:

D C Smith - Director

19 November 2025

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

REPORT OF THE DIRECTORS

for the year ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No interim dividend was paid during the year. The directors recommend a final dividend of £2566.66666 per share.

The total distribution of dividends for the year ended 31 March 2025 will be £ 231,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

R D Harris

D C Smith

K Marshall

Mrs L A Smith

Other changes in directors holding office are as follows:

Mrs T Harris ceased to be a director after 31 March 2025 but prior to the date of this report.

GOING CONCERN

It is the director's opinion that the company is a going concern for the foreseeable future.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic report, the Report of the directors 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;

- | 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

REPORT OF THE DIRECTORS

for the year ended 31 March 2025

AUDITORS

The auditors, Berringers LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D C Smith - Director

19 November 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

I A HARRIS AND SON LTD

Opinion

We have audited the financial statements of I A Harris and Son Ltd (the 'company') for the year ended 31 March 2025 which comprise the Statement of income and retained earnings, Balance sheet, Cash flow statement and Notes to the cash flow statement, Notes to the financial statements, including a summary of 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 March 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic report and the Report of the directors, but does not include the financial statements and our Report of the auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

- | the information given in the Strategic report and the Report of the directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic report and the Report of the directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

I A HARRIS AND SON LTD

Matters on which we are required to report by exception

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 Report of the directors.

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

Responsibilities of directors

As explained more fully in the Statement of directors' responsibilities set out on page three, 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 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.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the auditors 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:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and error, we considered the following:

- the nature of the industry, control environment and business performance;

- results of our enquiries to management about their own assessment of the risks of fraud and error;

- the matters discussed among the audit engagement team regarding how and where fraud may occur in the financial statements and any potential indicators of fraud.

Our procedures to respond to risk include the following:

- reviewing the financial statement disclosures and testing to supporting documentation;

- performing analytical procedures to identify any unusual or unexpected areas that may indicate risks of material misstatement due to fraud or error;

- addressing the risk of fraud and error through management override of controls, testing the appropriateness of journals, assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

I A HARRIS AND SON LTD

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 a Report of the auditors 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.

Paul Allan BSocSc FCA (Senior Statutory Auditor)

for and on behalf of Berringers LLP

Chartered Accountants

and Statutory Auditors

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

19 November 2025

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

STATEMENT OF INCOME AND

RETAINED EARNINGS

for the year ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 12,958,098 |  | 13,695,748 |  |

Cost of sales | 10,407,425 |  | 11,380,477 |  |

GROSS PROFIT | 2,550,673 |  | 2,315,271 |  |

Administrative expenses | 2,060,454 |  | 2,090,737 |  |

OPERATING PROFIT | 5 | 490,219 |  | 224,534 |  |

Interest payable and similar expenses | 6 | 1,557 |  | 2,828 |  |

PROFIT BEFORE TAXATION | 488,662 |  | 221,706 |  |

Tax on profit | 7 | 119,675 |  | 53,215 |  |

PROFIT FOR THE FINANCIAL YEAR | 368,987 |  | 168,491 |  |

Retained earnings at beginning of year | 854,091 |  | 937,600 |  |

Dividends | 8 | (231,000 | ) | (252,000 | ) |

RETAINED EARNINGS AT END OF YEAR | 992,078 |  | 854,091 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 1,424 |  | 1,898 |  |

Tangible assets | 10 | 973,281 |  | 1,116,938 |  |

974,705 |  | 1,118,836 |  |

CURRENT ASSETS

Stocks | 11 | 107,891 |  | 73,846 |  |

Debtors | 12 | 1,569,500 |  | 1,762,301 |  |

Cash at bank and in hand | 243,041 |  | 63,322 |  |

1,920,432 |  | 1,899,469 |  |

CREDITORS

Amounts falling due within one year | 13 | 1,655,635 |  | 1,866,471 |  |

NET CURRENT ASSETS | 264,797 |  | 32,998 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,239,502 |  | 1,151,834 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (2,892 | ) | (13,310 | ) |

PROVISIONS FOR LIABILITIES | 18 | (234,443 | ) | (274,344 | ) |

NET ASSETS | 1,002,167 |  | 864,180 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 90 |  | 90 |  |

Share premium | 20 | 9,999 |  | 9,999 |  |

Retained earnings | 20 | 992,078 |  | 854,091 |  |

SHAREHOLDERS' FUNDS | 1,002,167 |  | 864,180 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

D C Smith - Director

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

CASH FLOW STATEMENT

for the year ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 544,177 |  | 595,401 |  |

Interest paid | (844 | ) | (1,635 | ) |

Interest element of hire purchase payments paid | (713 | ) | (1,193 | ) |

Tax paid | (70,040 | ) | (64,493 | ) |

Net cash from operating activities | 472,580 |  | 528,080 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (25,001 | ) | (96,074 | ) |

Net cash from investing activities | (25,001 | ) | (96,074 | ) |

Cash flows from financing activities

Loan repayments in year | (10,170 | ) | (9,923 | ) |

Capital repayments in year | (27,976 | ) | (18,347 | ) |

Amount introduced by directors | 2,241 |  | - |  |

Amount withdrawn by directors | (955 | ) | (840 | ) |

Equity dividends paid | (231,000 | ) | (252,000 | ) |

Net cash from financing activities | (267,860 | ) | (281,110 | ) |

Increase in cash and cash equivalents | 179,719 |  | 150,896 |  |

Cash and cash equivalents at beginning of year | 2 | 63,322 |  | (87,574 | ) |

Cash and cash equivalents at end of year | 2 | 243,041 |  | 63,322 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE CASH FLOW STATEMENT

for the year ended 31 March 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 488,662 |  | 221,706 |  |

| Depreciation charges | 169,133 |  | 153,120 |  |

| Finance costs | 1,557 |  | 2,828 |  |

659,352 |  | 377,654 |  |

| (Increase)/decrease in stocks | (34,045 | ) | 20,660 |  |

| Decrease/(increase) in trade and other debtors | 193,187 |  | (72,853 | ) |

| (Decrease)/increase in trade and other creditors | (274,317 | ) | 269,940 |  |

| Cash generated from operations | 544,177 |  | 595,401 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash flow statement in respect of cash and cash equivalents are in respect of these Balance sheet amounts:

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 243,041 |  | 63,322 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 63,322 |  | 5,681 |  |

| Bank overdrafts | - |  | (93,255 | ) |

63,322 |  | (87,574 | ) |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE CASH FLOW STATEMENT

for the year ended 31 March 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 63,322 |  | 179,719 |  | 243,041 |  |

63,322 |  | 179,719 |  | 243,041 |  |

| Debt

| Finance leases | (27,976 | ) | 27,976 |  | - |  |

| Debts falling due within 1 year | (9,922 | ) | (248 | ) | (10,170 | ) |

| Debts falling due after 1 year | (13,310 | ) | 10,418 |  | (2,892 | ) |

(51,208 | ) | 38,146 |  | (13,062 | ) |

| Total | 12,114 |  | 217,865 |  | 229,979 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

1. | COMPANY INFORMATION

| I A Harris and Son Limited is a limited liability company incorporated in England. The registered office is Lygon House, 50 London Road, Bromley, Kent, BR1 3RA. The company's principal activity is the wholesale supply of fruit and vegetables.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenditures during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider that there is a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period.

| Going Concern

| It is the directors' opinion that the company is a going concern for the foreseeable future.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill relates to the amount paid in connection with the acquisition of a business in 2002. Goodwill is now fully amortised in the financial statements.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Development costs are being amortised at 25% reducing balance.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Improvements to property | - | Straight line over 10 years

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but does not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charges to profit or loss on a straight line basis. A change in the policy to use of the effective interest method would lead to an immaterial change to the company's profit or loss account for the period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Finance costs

| All finance costs are recognised in profit or loss in the period in which they are incurred.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Debtors

| Short term debtors are measures at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts, when applicable are shown within borrowings in current liabilities.

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Creditors

| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 12,958,098 |  | 13,695,748 |  |

12,958,098 |  | 13,695,748 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,071,488 |  | 2,098,739 |  |

| Social security costs | 204,046 |  | 197,428 |  |

| Other pension costs | 32,906 |  | 33,990 |  |

2,308,440 |  | 2,330,157 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Drivers & packers | 51 |  | 52 |  |

| Administrative | 15 |  | 20 |  |

66 |  | 72 |  |

| Key management personnel compensation during the year totalled £205,391 (2024: £185,654).

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 132,000 |  | 132,000 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 161,333 |  | 142,720 |  |

| Depreciation - assets on hire purchase contracts | 7,325 |  | 9,768 |  |

| Development costs amortisation | 474 |  | 633 |  |

| Auditors remuneration | 6,000 |  | 5,500 |  |

| Auditors remuneration - non audit | 26,947 |  | 23,120 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 844 |  | 1,635 |  |

| Hire purchase | 713 |  | 1,193 |  |

1,557 |  | 2,828 |  |

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 159,576 |  | 70,040 |  |

| Deferred taxation | (39,901 | ) | (16,825 | ) |

| Tax on profit | 119,675 |  | 53,215 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 488,662 |  | 221,706 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 122,166 |  | 55,427 |  |

| Effects of:

| Expenses not deductible for tax purposes | 3,444 |  | 2,886 |  |

| Depreciation in excess of capital allowances | 33,966 |  | 11,727 |  |

| Deferred tax adjustment | (39,901 | ) | (16,825 | ) |

| Total tax charge | 119,675 |  | 53,215 |  |

8. | DIVIDENDS

| The total distribution of dividends for the year ended 31 March 2025 were £231,000 (2024 - £252,000)

9. | INTANGIBLE FIXED ASSETS

| Development |

| Goodwill |  | costs |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 22,100 |  | 5,400 |  | 27,500 |  |

| AMORTISATION

| At 1 April 2024 | 22,100 |  | 3,502 |  | 25,602 |  |

| Amortisation for year | - |  | 474 |  | 474 |  |

| At 31 March 2025 | 22,100 |  | 3,976 |  | 26,076 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 1,424 |  | 1,424 |  |

| At 31 March 2024 | - |  | 1,898 |  | 1,898 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

10. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | and |  | Motor |

| property |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 1,011,314 |  | 130,681 |  | 684,927 |  | 1,826,922 |  |

| Additions | - |  | - |  | 25,001 |  | 25,001 |  |

| At 31 March 2025 | 1,011,314 |  | 130,681 |  | 709,928 |  | 1,851,923 |  |

| DEPRECIATION

| At 1 April 2024 | 152,978 |  | 109,514 |  | 447,492 |  | 709,984 |  |

| Charge for year | 99,319 |  | 5,292 |  | 64,047 |  | 168,658 |  |

| At 31 March 2025 | 252,297 |  | 114,806 |  | 511,539 |  | 878,642 |  |

| NET BOOK VALUE

| At 31 March 2025 | 759,017 |  | 15,875 |  | 198,389 |  | 973,281 |  |

| At 31 March 2024 | 858,336 |  | 21,167 |  | 237,435 |  | 1,116,938 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| COST

| At 1 April 2024 | 58,149 |  |

| Transfer to ownership | (58,149 | ) |

| At 31 March 2025 | - |  |

| DEPRECIATION

| At 1 April 2024 | 29,886 |  |

| Charge for year | 7,325 |  |

| Transfer to ownership | (37,211 | ) |

| At 31 March 2025 | - |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  |

| At 31 March 2024 | 28,263 |  |

11. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 107,891 |  | 73,846 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 1,299,238 |  | 1,480,318 |  |

| Other debtors | 70,206 |  | 80,479 |  |

| Directors' current accounts | 2,054 |  | 1,668 |  |

| VAT | 45,450 |  | 54,387 |  |

| Prepayments and accrued income | 152,552 |  | 145,449 |  |

1,569,500 |  | 1,762,301 |  |

13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 15) | 10,170 |  | 9,922 |  |

| Hire purchase contracts (see note 16) | - |  | 27,976 |  |

| Trade creditors | 1,270,132 |  | 1,522,329 |  |

| Taxation | 159,576 |  | 70,040 |  |

| Social security and other taxes | 53,174 |  | 52,457 |  |

| Other creditors | 6,394 |  | 10,311 |  |

| Directors' current accounts | 26,165 |  | 24,493 |  |

| Accrued expenses | 130,024 |  | 148,943 |  |

1,655,635 |  | 1,866,471 |  |

14. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 15) | 2,892 |  | 13,310 |  |

15. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans - less than 1 yr | 10,170 |  | 9,922 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 2,892 |  | 10,393 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | - |  | 2,917 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

16. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Gross obligations repayable:

| Within one year | - |  | 28,689 |  |

| Finance charges repayable:

| Within one year | - |  | 713 |  |

| Net obligations repayable:

| Within one year | - |  | 27,976 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 66,524 |  | 66,524 |  |

| Between one and five years | 99,786 |  | 166,309 |  |

166,310 |  | 232,833 |  |

17. | SECURED DEBTS

| The bank holds a debenture over the assets of the company in respect of the overdraft and credit card facilities.

18. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 234,443 |  | 274,344 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 274,344 |  |

| Provided during year | (39,901 | ) |

| Accelerated capital allowances |

| Balance at 31 March 2025 | 234,443 |  |

| I A HARRIS AND SON LTD (REGISTERED NUMBER: 04401619) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 90 | Ordinary | £1 | 90 |  | 90 |  |

20. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 April 2024 | 854,091 |  | 9,999 |  | 864,090 |  |

| Profit for the year | 368,987 |  | 368,987 |  |

| Dividends | (231,000 | ) | (231,000 | ) |

| At 31 March 2025 | 992,078 |  | 9,999 |  | 1,002,077 |  |

21. | ULTIMATE CONTROLLING PARTY

| R D Harris, D C Smith and K Marshall are considered to be the ultimate controlling parties of the company due to their directorships and shareholdings in the company.