Company Registration No. 11550233 (England and Wales)
Terry Harris and Sons Limited
Unaudited accounts
for the year ended 31 March 2025
Terry Harris and Sons Limited
Unaudited accounts
Contents
Terry Harris and Sons Limited
Company Information
for the year ended 31 March 2025
Directors
Mr S E Harris
Mr R J Harris
Miss M Rashleigh
Miss E R Harris
Mr K Gimblet
Mr D P Thomas
Mrs E Harris
Miss S L Hymas
Company Number
11550233 (England and Wales)
Registered Office
Unit 3
Highfield Business Park, Pityme
Rock
Cornwall
PL27 6FE
Accountants
Blackwell Bate Ltd
Brunel Court
122 Fore Street
Saltash
Cornwall
PL12 6JW
Terry Harris and Sons Limited
Statement of financial position
as at 31 March 2025
Intangible assets
205,000
208,334
Tangible assets
894,270
953,178
Debtors
2,618,522
2,453,028
Cash at bank and in hand
27,171
320,223
Creditors: amounts falling due within one year
(1,786,871)
(1,987,470)
Net current assets
858,822
785,781
Total assets less current liabilities
1,958,092
1,947,293
Creditors: amounts falling due after more than one year
-
(6,522)
Provisions for liabilities
Deferred tax
(223,568)
(238,294)
Net assets
1,734,524
1,702,477
Called up share capital
1,000
1,000
Profit and loss account
1,733,524
1,701,477
Shareholders' funds
1,734,524
1,702,477
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by
Mr S E Harris
Director
Company Registration No. 11550233
Terry Harris and Sons Limited
Notes to the Accounts
for the year ended 31 March 2025
Terry Harris and Sons Limited is a private company, limited by shares, registered in England and Wales, registration number 11550233. The registered office is Unit 3, Highfield Business Park, Pityme, Rock, Cornwall, PL27 6FE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 25 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
3 year straight line
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 current liabilities.
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.
Terry Harris and Sons Limited
Notes to the Accounts
for the year ended 31 March 2025
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 accounts. 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill
Terry Harris and Sons Limited
Notes to the Accounts
for the year ended 31 March 2025
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
693,583
722,794
9,487
35,128
1,460,992
Additions
92,012
239,593
-
2,241
333,846
Disposals
(129,650)
(143,081)
-
-
(272,731)
At 31 March 2025
655,945
819,306
9,487
37,369
1,522,107
At 1 April 2024
208,665
268,417
5,371
25,361
507,814
Charge for the year
75,203
153,851
618
8,939
238,611
On disposals
(54,077)
(64,511)
-
-
(118,588)
At 31 March 2025
229,791
357,757
5,989
34,300
627,837
At 31 March 2025
426,154
461,549
3,498
3,069
894,270
At 31 March 2024
484,918
454,377
4,116
9,767
953,178
Amounts falling due within one year
Trade debtors
1,992,398
2,105,459
Other debtors
626,124
347,569
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Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
5,996
64,583
Trade creditors
1,085,407
1,029,125
Taxes and social security
93,869
93,522
Other creditors
601,599
800,240
8
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
-
6,522
9
Average number of employees
During the year the average number of employees was 27 (2024: 26).