Company No: 02627906 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Director	C Trusson (Resigned 14 October 2024)
	D Tuppen (Appointed 18 September 2024)
	S Turchyn (Appointed 30 May 2024, Resigned 30 May 2024)

Registered office	9 Donnington Park
	85 Birdham Road
	Chichester
	West Sussex
	PO20 7AJ
	United Kingdom

Company number

02627906 (England and Wales)

Accountant	Kreston Reeves LLP
	9 Donnington Park
	85 Birdham Road
	Chichester
	West Sussex
	PO20 7AJ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Home Counties (Horsham) Limited for the financial year ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 14 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Home Counties (Horsham) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Home Counties (Horsham) Limited. You consider that Home Counties (Horsham) Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Home Counties (Horsham) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Home Counties (Horsham) Limited, as a body, in accordance with the terms of our engagement letter dated 22 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Home Counties (Horsham) Limited and state those matters that we have agreed to state to the director of Home Counties (Horsham) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Home Counties (Horsham) Limited and its Director as a body for our work or for this report.

Kreston Reeves LLP

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

04 November 2025

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	80,338		117,854
		80,338		117,854
Current assets
Stocks		65,423		146,157
Debtors	4	1,075,677		923,783
Cash at bank and in hand		74,509		91,708
		1,215,609		1,161,648
Creditors: amounts falling due within one year	5	( 286,663)		( 434,240)
Net current assets		928,946		727,408
Total assets less current liabilities		1,009,284		845,262
Creditors: amounts falling due after more than one year	6	( 6,361)		( 37,711)
Provision for liabilities	7, 8	( 14,920)		( 10,398)
Net assets		988,003		797,153
Capital and reserves
Called-up share capital	9	270		270
Capital redemption reserve		543		543
Profit and loss account		987,190		796,340
Total shareholder's funds		988,003		797,153

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Home Counties (Horsham) Limited (registered number: 02627906) were approved and authorised for issue by the Director on 04 November 2025. They were signed on its behalf by:

D Tuppen Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Home Counties (Horsham) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ, United Kingdom. The principal place of business is Hillier Garden Centre, Brighton Road, Chichester, West Sussex, PO20 7AJ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	20 years straight line
Plant and machinery	15 % reducing balance
Vehicles	4 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Pensions - Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. the assets of the plan are held separately from the Company in independently administered funds.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		9

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	132,634		19,311		118,951		16,489		287,385
Additions	0		0		14,747		300		15,047
Disposals	0		0		( 37,849)		0		( 37,849)
At 31 March 2025	132,634		19,311		95,849		16,789		264,583
Accumulated depreciation
At 01 April 2024	78,160		11,178		66,883		13,310		169,531
Charge for the financial year	6,631		1,220		20,740		1,893		30,484
Disposals	0		0		( 15,770)		0		( 15,770)
At 31 March 2025	84,791		12,398		71,853		15,203		184,245
Net book value
At 31 March 2025	47,843		6,913		23,996		1,586		80,338
At 31 March 2024	54,474		8,133		52,068		3,179		117,854

At the balance sheet date motor vehicles under hire purchase had a net book value of £23,996 (2024 £25,258).

4. Debtors

	2025		2024
	£		£
Trade debtors	78,035		162,087
Amounts owed by Group undertakings	997,235		758,258
Prepayments and accrued income	407		3,438
	1,075,677		923,783

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,648		10,649
Trade creditors	76,647		117,065
Accruals and deferred income	61,473		98,763
Taxation and social security	90,154		164,234
Obligations under finance leases and hire purchase contracts	29,772		5,032
Other creditors	17,969		38,497
	286,663		434,240

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	1,588		11,791
Obligations under finance leases and hire purchase contracts	4,773		25,920
	6,361		37,711

7. Provision for liabilities

	Deferred taxation		Product warranties		Total
	£		£		£
At 01 April 2024	6,398		4,000		10,398
Charged/(credited) to the Statement of Income and Retained Earnings	( 1,478)		6,000		4,522
At 31 March 2025	4,920		10,000		14,920

Deferred tax

	2025		2024
	£		£
Accelerated capital allowances	5,055		6,510
Other timing differences	( 135)		( 112)
Provision for deferred tax	4,920		6,398

Product warranties

The provision for product warranties relates to expected warranty claims on products sold in the last three years. It is expected that the majority of this expenditure will be incurred in the next financial year and that all will be incurred within three years of the balance sheet date.

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 6,398)		( 14,789)
Credited to the Statement of Income and Retained Earnings	1,478		8,391
At the end of financial year	( 4,920)		( 6,398)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 5,055)		( 6,510)
Pension surplus	135		112
	( 4,920)		( 6,398)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
268 Ordinary B shares of £ 1.00 each	268		268
2 Ordinary C shares of £ 1.00 each	2		2
	270		270

10. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Finance leases entered into	13,020		11,020

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	8,101		8,101

Other financial commitments

	2025		2024
	£		£
Commitments in respect of pensions	1,388		1,187

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	1,388		1,187

The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,153 (2024 - £125,744).

11. Related party transactions

Transactions with owners holding a participating interest in the entity

The parent company Home Counties Pools Holdings Ltd holds a loan which is secured by a fixed and floating charge against the Company's assets. In addition, the Company provides an interest free loan to the parent company. The amount outstanding at the year end was £997,235 (2024: £730,958).

12. Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

	2025		2024
	£		£
Within one year	8,247		6,297
Between 1-5 years	4,773		4,723
	13,020		11,020

13. Loans

Analysis of the maturity of loans is given below:

	2025		2024
	£		£
Bank loans due within one year	10,649		10,649
Bank loans due within 1-2 years	1,614		11,791
	12,263		22,440

14. Ultimate controlling party

Parent Company:

Homes Counties Pools Holdings Limited

Ashcombe House, 5 The Crescent, Leatherhead, Surrey, England, KT22 8DY

The ultimate parent company of Home Counties (Horsham) Limited is Home Counties Pools Group Holdings Limited with registered address Ashcombe House, 5 The Crescent, Leatherhead, Surrey, England, KT22 8DY