Company No: 00854237 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	644,190		534,671
		644,190		534,671
Current assets
Stocks		31,938		31,040
Debtors	4	121,819		67,939
Cash at bank and in hand		36,798		51,082
		190,555		150,061
Creditors: amounts falling due within one year	5	( 355,762)		( 352,531)
Net current liabilities		(165,207)		(202,470)
Total assets less current liabilities		478,983		332,201
Creditors: amounts falling due after more than one year	6	( 228,141)		( 135,396)
Provision for liabilities		( 76,786)		( 61,491)
Net assets		174,056		135,314
Capital and reserves
Called-up share capital		60		60
Capital redemption reserve		40		40
Profit and loss account		173,956		135,214
Total shareholders' funds		174,056		135,314

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

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; 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 D.& H.Harrod(Coaches)Limited (registered number: 00854237) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D J Harrod Director

A E Harrod Director

01 December 2025

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

D.& H.Harrod(Coaches)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 Bexwell Aerodrome Bexwell Road, Bexwell, Downham Market, PE38 9LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

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.

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 Statement of Financial Position 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:

Leasehold improvements	25 years straight line
Plant and machinery	15 % reducing balance
Vehicles	10 % reducing balance
Office equipment	15 % reducing balance

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.

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.

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 Statement of Financial Position 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	17		17

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 September 2024	2,400		45,049		1,063,405		12,356		1,123,210
Additions	13,562		2,186		148,000		795		164,543
At 31 August 2025	15,962		47,235		1,211,405		13,151		1,287,753
Accumulated depreciation
At 01 September 2024	1,728		38,598		540,361		7,852		588,539
Charge for the financial year	495		1,239		52,505		785		55,024
At 31 August 2025	2,223		39,837		592,866		8,637		643,563
Net book value
At 31 August 2025	13,739		7,398		618,539		4,514		644,190
At 31 August 2024	672		6,451		523,044		4,504		534,671

4. Debtors

	2025		2024
	£		£
Trade debtors	29,103		25,634
Other debtors	92,716		42,305
	121,819		67,939

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	16,513		15,753
Trade creditors	69,361		62,693
Other taxation and social security	26,531		21,677
Obligations under finance leases and hire purchase contracts	75,352		88,479
Other creditors	168,005		163,929
	355,762		352,531

Included in bank loans is a balance of £10,529 (2024: £9,769) which is secured by way of a fixed and floating charge over the undertaking and all property and assets present and future.

D and A Harrod have provided personal guarantees to secure the bank loan.

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate £75,352 (2024: £88,479).

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

	2025		2024
	£		£
Bank loans	24,878		41,823
Obligations under finance leases and hire purchase contracts	203,263		93,573
	228,141		135,396

Included in bank loans is a balance of £2,439 (2024: £13,399) which is secured by way of a fixed and floating charge over the undertaking and all property and assets present and future.

D and A Harrod have provided perosnal gurantees to secure the bank loan.

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate £203,263 (2024: £93,573).

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	55,762		0

Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate £55,762. The agreement matures on 31 August 2031 with an interest rate of 3.94%.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	16,017		17,360
between one and five years	16,078		11,496
after five years	0		2,874
Total future minimum lease payments under non-cancellable operating leases	32,095		31,730