Caseware UK (AP4) 2024.0.164 2024.0.164 2025-06-30 Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. Depreciation is included within 'administrative expenses' in the Statement of Income and Retained Earnings.At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods detailed below. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.Securities The bank facilities are secured by fixed and floating charges over the assets of the Company and by unlimited cross-guarantees between the Company and certain fellow group undertakings. The finance lease and hire purchase liabilities are secured on assets to which they relate. Refer to note 6.2024-07-01 false 28 28 true false false 04150232 2024-07-01 2025-06-30 04150232 2025-06-30 04150232 2023-07-01 2024-06-30 04150232 2024-06-30 04150232 1 2024-07-01 2025-06-30 04150232 d:CompanySecretary1 2024-07-01 2025-06-30 04150232 d:Director1 2024-07-01 2025-06-30 04150232 d:Director2 2024-07-01 2025-06-30 04150232 d:Director3 2024-07-01 2025-06-30 04150232 d:Director4 2024-07-01 2025-06-30 04150232 d:Director5 2024-07-01 2025-06-30 04150232 d:Director6 2024-07-01 2025-06-30 04150232 d:Director7 2024-07-01 2025-06-30 04150232 d:Director8 2024-07-01 2025-06-30 04150232 d:Director9 2024-07-01 2025-06-30 04150232 d:Director10 2024-07-01 2025-06-30 04150232 d:Director10 2025-06-30 04150232 d:RegisteredOffice 2024-07-01 2025-06-30 04150232 c:MotorVehicles 2024-07-01 2025-06-30 04150232 c:MotorVehicles 2025-06-30 04150232 c:MotorVehicles 2024-06-30 04150232 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 04150232 c:FurnitureFittings 2024-07-01 2025-06-30 04150232 c:FurnitureFittings 2025-06-30 04150232 c:FurnitureFittings 2024-06-30 04150232 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 04150232 c:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 04150232 c:CurrentFinancialInstruments 2025-06-30 04150232 c:CurrentFinancialInstruments 2024-06-30 04150232 c:Non-currentFinancialInstruments 2025-06-30 04150232 c:Non-currentFinancialInstruments 2024-06-30 04150232 c:CurrentFinancialInstruments c:WithinOneYear 2025-06-30 04150232 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 04150232 c:Non-currentFinancialInstruments c:AfterOneYear 2025-06-30 04150232 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 04150232 c:ShareCapital 2025-06-30 04150232 c:ShareCapital 2024-06-30 04150232 c:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 04150232 c:RetainedEarningsAccumulatedLosses 2025-06-30 04150232 c:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 04150232 c:RetainedEarningsAccumulatedLosses 2024-06-30 04150232 c:RetainedEarningsAccumulatedLosses 2023-07-01 04150232 d:OrdinaryShareClass1 2024-07-01 2025-06-30 04150232 d:OrdinaryShareClass1 2025-06-30 04150232 d:FRS102 2024-07-01 2025-06-30 04150232 d:Audited 2024-07-01 2025-06-30 04150232 d:FullAccounts 2024-07-01 2025-06-30 04150232 d:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 04150232 2 2024-07-01 2025-06-30 04150232 7 2024-07-01 2025-06-30 04150232 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2025-06-30 04150232 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2024-06-30 04150232 e:PoundSterling 2024-07-01 2025-06-30 xbrli:shares iso4217:GBP xbrli:pure

Goadsby & Harding (Commercial) Limited Registered number: 04150232 Annual Report For the year ended 30 June 2025
GOADSBY & HARDING (COMMERCIAL) LIMITED COMPANY INFORMATION
Directors | P R Atfield
| D Errington
| D N Huck
| P R Stewart
| J C Wilson
| A M Carter
| I M Brown
| J D Edwards
| P A Warner
| G A Cormack (appointed 13 January 2026)
Company secretaries | D Errington, P A Warner
Registered number | 04150232
Registered office | 99 Holdenhurst Road
| Bournemouth
| Dorset
| BH8 8DY
Independent auditor | Forvis Mazars LLP
| Chartered Accountants & Statutory Auditor
| 5th Floor
| Merck House
| Seldown Lane
| Poole
| BH15 1TW
GOADSBY & HARDING (COMMERCIAL) LIMITED CONTENTS
| Page
Directors' Report | 1 - 3
Independent Auditor's Report | 4 - 7
Statement of Income and Retained Earnings | 8
Statement of Financial Position | 9
Notes to the Financial Statements | 10 - 18
GOADSBY & HARDING (COMMERCIAL) LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 30 JUNE 2025 The Directors present their report and the audited financial statements for the year ended 30 June 2025.
Principal activity
The Company is principally engaged in commercial estate agency, surveying and related activities.
Results and dividends
The profit for the year, after taxation, amounted to £185,741 (2024: £109,675).
Directors
The Directors who served during the year and up to the date of this report were:
P R Atfield
D Errington
D N Huck
P R Stewart
J C Wilson
A M Carter
I M Brown
J D Edwards
P A Warner
G A Cormack (appointed 13 January 2026)
Directors' responsibilities statement
The Directors are responsible for preparing the Directors' Report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; and ∙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 to 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. - 1 -
GOADSBY & HARDING (COMMERCIAL) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
Qualifying third party indemnity provisions
The Directors benefit from a qualifying indemnity provision in the form permitted by the Section 234 of the Companies Act 2006 in respect of certain third party actions against Directors. No claim or notice of claim in respect of these indemnities has been received in the year. The qualifying indemnity provision was in force throughout the financial year and up to the date of approval of the Directors' Report.
Going concern
The Company is a wholly owned subsidiary undertaking of the St Gresham Limited group of companies (the 'Group'). In the normal course of events, the Directors prepare regular forecasts and monitor performance of KPIs on a monthly basis and having extrapolated forward on a business as usual basis concluded that there were no material uncertainties that cast doubt on the Group’s ability to continue as a going concern. The business forecasts and projections, taking account of reasonably possible changes in trading performance show that the Company should be able to operate within the level of its current cash resources and facilities. The St Gresham Board keeps tight control on costs and will introduce proportionate cost controls and other measures as necessary. It will take advantage of numerous avenues available to direct the business based on its prudent forecasting and accounting and fiscally efficient principles. Accordingly, the Directors have revisited their previous assessment and have concluded that there are no material uncertainties that cast doubt on the Group's ability to continue as a going concern.
Economic impact of global events
UK businesses are facing many uncertainties and challenges caused by political, economic, social, technological, legal and environmental factors. The Directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that the greatest impact on the business is expected to be from the economic ripple effect on the global economy. The Directors have taken account of these potential impacts in their going concern assessment. The Company continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business.
Provision of information to auditor
Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the Director is aware, there is no relevant audit information of which the Company's auditor is unaware, and ∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end. - 2 -
GOADSBY & HARDING (COMMERCIAL) LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
Auditor
The auditor, Forvis Mazars LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies note
In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board and signed on its behalf.
D Errington Director
Date: 17 March 2026
- 3 -
GOADSBY & HARDING (COMMERCIAL) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GOADSBY & HARDING (COMMERCIAL) LIMITED Opinion We have audited the financial statements of Goadsby & Harding (Commercial) Limited (the ‘Company’) for the year ended 30 June 2025 which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and 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 FRS 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 30 June 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 "Auditor’s 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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. - 4 -
GOADSBY & HARDING (COMMERCIAL) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GOADSBY & HARDING (COMMERCIAL) LIMITED 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 course of 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In 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 Directors' Report. We have nothing to report in respect of the following matters in relation to which 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; or ∙the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the Directors' Report and from the requirement to prepare a Strategic Report. Responsibilities of Directors As explained more fully in the Directors' Responsibilities Statement set out on page 1, 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 is 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 intend either to liquidate the Company or to cease operations, or have no realistic alternative but to do so. - 5 -
GOADSBY & HARDING (COMMERCIAL) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GOADSBY & HARDING (COMMERCIAL) LIMITED Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the Company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: UK tax legislation, pensions legislation, employment regulation, health and safety regulation, anti-money laundering regulation and industry specific membership compliance. To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to: ∙Inquiring of management and, where appropriate, those charged with governance, as to whether the Company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations; ∙Inspecting correspondence, if any, with relevant licensing or regulatory authorities; ∙Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and ∙Considering the risk of acts by the Company which were contrary to applicable laws and regulations, including fraud. We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as UK tax legislation, pension legislation and the Companies Act 2006. In addition, we evaluated the Directors' and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, revenue recognition (which we pinpointed to the cut-off assertion) and significant one-off or unusual transactions. Our audit procedures in relation to fraud included but were not limited to: ∙Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; ∙Gaining an understanding of the internal controls established to mitigate risks related to fraud; ∙Discussing amongst the engagement team the risks of fraud; and ∙Addressing the risks of fraud through management override of controls by performing journal entry testing. There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. - 6 -
GOADSBY & HARDING (COMMERCIAL) LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GOADSBY & HARDING (COMMERCIAL) LIMITED 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 auditor’s report. Use of the audit 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 an auditor's report 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. Stephen Mills (Senior Statutory Auditor) for and on behalf of Forvis Mazars LLP Chartered Accountants and Statutory Auditor 5th Floor Merck House Seldown Lane Poole BH15 1TW 17 March 2026 - 7 -
GOADSBY & HARDING (COMMERCIAL) LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 30 JUNE 2025
| 2025 | 2024
| £ | £
Turnover | 2,406,823 | 2,315,932
Gross profit | 2,406,823 | 2,315,932
Administrative expenses | (2,196,591) | (2,231,534)
Operating profit | 210,232 | 84,398
Interest receivable and similar income | 21,672 | 22,211
Interest payable and similar expenses | (1,811) | (3,933)
Profit before tax | 230,093 | 102,676
Tax on profit | (44,352) | 6,999
Profit after tax | 185,741 | 109,675
Retained earnings at the beginning of the year | 2,924,139 | 2,814,464
Profit for the year | 185,741 | 109,675
Retained earnings at the end of the year | 3,109,880 | 2,924,139
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of income and retained earnings.
The Statement of Income and Retained Earnings has been prepared on the basis that all operations are continuing operations.
The notes on pages 10 to 18 form part of these financial statements.
- 8 -
GOADSBY & HARDING (COMMERCIAL) LIMITED REGISTERED NUMBER: 04150232 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets | 4 |  | 52,597 |  | 54,306
|  |  | 52,597 |  | 54,306
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 3,427,719 |  | 3,185,352 |
Cash and cash equivalents |  | 45,021 |  | 5,759 |
|  | 3,472,740 |  | 3,191,111 |
Creditors: amounts falling due within one year | 6 | (389,992) |  | (297,952) |
Net current assets |  |  | 3,082,748 |  | 2,893,159
Total assets less current liabilities |  |  | 3,135,345 |  | 2,947,465
Creditors: amounts falling due after more than one year | 7 |  | (15,465) |  | (13,326)
Net assets |  |  | 3,119,880 |  | 2,934,139
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 10,000 |  | 10,000
Profit and loss account | 9 |  | 3,109,880 |  | 2,924,139
Total equity |  |  | 3,119,880 |  | 2,934,139
The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D Errington
Director
Date: 17 March 2026
The notes on pages 10 to 18 form part of these financial statements. - 9 -
GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Goadsby & Harding (Commercial) Limited is a private company limited by shares, incorporated in England and Wales. The registered number of the Company is 04150232. The registered office is 99 Holdenhurst Road, Bournemouth, Dorset, BH8 8DY. The Company is principally engaged in commercial estate agency, surveying and related activities. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates and is rounded to the nearest pound. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Company is a wholly owned subsidiary undertaking of the St Gresham Limited group of companies (the 'Group'). In the normal course of events, the directors prepare regular forecasts and monitor performance of KPIs on a monthly basis and having extrapolated forward on a business as usual basis concluded that there were no material uncertainties that cast doubt on the Group’s ability to continue as a going concern. The business forecasts and projections, taking account of reasonably possible changes in trading performance show that the Company should be able to operate within the level of its current cash resources and facilities. The St Gresham Board keeps tight control on costs and will introduce proportionate cost controls and other measures as necessary. It will take advantage of numerous avenues available to direct the business based on its prudent forecasting and accounting and fiscally efficient principles. Accordingly, the directors have revisited their previous assessment and have concluded that there are no material uncertainties that cast doubt on the Group's ability to continue as a going concern.
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover comprises commission and fees receivable, exclusive of Value Added Tax. Commissions on sales of commercial properties are recognised as earned when the contract for sale is exchanged, provided that thereafter the contract is, or is expected to be, completed. Property management fees are recognised at the point of delivery of the service. - 10 -
GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Interest receivable and similar income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Interest payable and similar expenses
Interest payable and similar expenses are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
| 2.7 | 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 other creditors as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. - 11 -
GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation (continued)
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. We aim to utilise tax losses arising within the UK group in the most tax efficient manner fully complying with UK taxation legislation. The extent to which tax losses are paid for by the receiving company will be assessed on a case by case basis.
| 2.9 | Leased assets: the Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Income and Retained Earnings so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. - 12 -
GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods detailed below. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures, furniture & equipment | - | 10% to 20% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. Depreciation is included within 'administrative expenses' in the Statement of Income and Retained Earnings.
| 2.11 | Debtors
Short-term debtors are measured 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.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | 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.
| 2.14 | Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial Position and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of Financial Position. - 13 -
GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.15 | Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 28 (2024: 28).
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GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Tangible fixed assets
|  | Motor vehicles | Fixtures, furniture & equipment | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 July 2024 | 148,217 | 34,909 | 183,126
| Additions | 26,900 | 615 | 27,515
| Disposals | (46,908) | (10,317) | (57,225)
| At 30 June 2025 | 128,209 | 25,207 | 153,416
| Depreciation |  |  |
| At 1 July 2024 | 102,221 | 26,599 | 128,820
| Charge for the year | 7,868 | 2,868 | 10,736
| Disposals | (28,420) | (10,317) | (38,737)
| At 30 June 2025 | 81,669 | 19,150 | 100,819
| Net book value |  |  |
| At 30 June 2025 | 46,540 | 6,057 | 52,597
| At 30 June 2024 | 45,996 | 8,310 | 54,306
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Motor vehicles | 35,076 | 36,941
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GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Debtors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 261,118 | 207,808
| Amounts owed by group undertakings | 3,098,492 | 2,914,216
| Other debtors | 1,808 | 1,801
| Prepayments | 23,285 | 23,956
| Deferred taxation | 43,016 | 37,571
|  | 3,427,719 | 3,185,352
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand. Trade debtors is stated net of a provision of £16,507 (2024: £7,432).
6. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 34,308 | 31,792
| Corporation tax | 80,178 | 30,381
| Other taxation and social security | 155,060 | 134,346
| Obligations under finance lease and hire purchase contracts | 19,239 | 10,104
| Other creditors | 20,581 | 33,174
| Accruals and deferred income | 80,626 | 58,155
|  | 389,992 | 297,952
| Securities The bank facilities are secured by fixed and floating charges over the assets of the Company and by unlimited cross-guarantees between the Company and certain fellow group undertakings. The finance lease and hire purchase liabilities are secured on assets to which they relate.
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GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
7. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 15,465 | 13,326
| Refer to note 6.
8. | Called up share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10,000 (2024: 10,000) Ordinary shares of £1 each | 10,000 | 10,000
| Each Ordinary share has an equal right to vote, participate in dividends and participate in a distribution of capital (including winding up). The Ordinary shares are not redeemable or liable to be redeemed.
9. | Reserves
Profit & loss account The profit and loss account includes all current and prior period retained profits and losses.
10. | Contingent liabilities
Bank facilities of the Company and its parent are secured by floating charges over the assets of the Company and guarantees between the Company and certain other group companies. There were no other contingent liabilities at 30 June 2025 or 30 June 2024.
11. | Pension commitments
The Company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Company. The annual contributions payable of £59,582 (2024: £61,159) are charged to the Statement of Income and Retained Earnings. Contributions totalling £18,957 (2024: £31,461) were payable to the fund at the reporting date and are included in other creditors. - 17 -
GOADSBY & HARDING (COMMERCIAL) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
12. | Related party transactions
| As a wholly owned subsidiary of Goadsby & Harding (Holdings) Limited, which itself is owned by St Gresham Limited, the Company is exempt from the requirements to disclose transactions with other wholly owned members of the Group headed by St Gresham Limited, in terms of Section 33 of FRS102. During the year the Company provided management services of £nil (2024: £17,050) to St Peters Limited, a company in which D Errington and D N Huck are directors. At the 30 June 2025 the balance owed by St Peters is £nil (2024: £12,420). During the year the Company provided management services of £18,496 (2024: £17,200) to St Giles (2016) Limited, a company in which D Errington and D N Huck are directors. At the 30 June 2025 the balance owed by St Giles is £35,903 (2024: £29,963). During the year the Company provided management services of £2,926 (2024: £2,200) to St Harding Limited, a company in which D Errington and D N Huck are directors. At the 30 June 2025 the balance owed by St Harding is £nil (2024: £600). None of the amounts owed to or from related parties are secured.
13. | Post balance sheet events
There have been no significant events affecting the Company since the year end.
14. | Controlling party
The Company's intermediate holding company is Goadsby & Harding (Holdings) Limited, which is itself a wholly owned subsidiary of St Gresham Limited, incorporated in England and Wales. St Gresham Limited is therefore the ultimate parent undertaking. The directors are of the view that there is no ultimate controlling party. The largest and smallest group of undertakings, for which group accounts for the year ended 30 June 2025 have been drawn up, is that headed by St Gresham Limited. Copies of the group accounts can be obtained from Companies House. The registered office address of the ultimate parent undertaking is 99 Holdenhurst Road, Bournemouth, Dorset, BH8 8DY.
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