Tortoise & Hare Limited - Filleted accounts


TORTOISE & HARE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 NOVEMBER 2025



































Company Registration Number: 14466418

TORTOISE & HARE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 9

TORTOISE & HARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2025


DIRECTORS

A L Browning
B Smith
resigned 13 October 2025


SECRETARY

The company does not have an appointed secretary


REGISTERED OFFICE

2 & 2a High Street
Abingdon
Oxon
OX14 5AX


COMPANY REGISTRATION NUMBER

14466418 England and Wales

TORTOISE & HARE LIMITED

BALANCE SHEET
AS AT 30 NOVEMBER 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	6		41,155		45,739

CURRENT ASSETS
Stock		10,876		21,632
Debtors	7	4,383		11,516
Cash at bank and in hand		2,906		2,582


		18,165		35,730

CREDITORS: Amounts falling due within one year	8	200,340		190,579
CREDITORS: Amounts falling due within one year


NET CURRENT LIABILITIES			(182,175)		(154,849)


CURRENT LIABILITIES LESS TOTAL ASSETS			(141,020)		(109,110)

Provisions for liabilities and charges			7,587		8,690


NET LIABILITIES			(148,607)		(117,800)


CAPITAL AND RESERVES
Called up share capital			2		2
Distributable profit and loss account			(148,609)		(117,802)


SHAREHOLDER'S DEFICIT			(148,607)		(117,800)

TORTOISE & HARE LIMITED

BALANCE SHEET
AS AT 30 NOVEMBER 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Director's Report.


Signed on behalf of the board




A L Browning
Director

Date approved by the board: 24 March 2026

TORTOISE & HARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


1	GENERAL INFORMATION

	Tortoise & Hare Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	2 & 2a High Street
	Abingdon
	Oxon
	OX14 5AX

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Going concern

	The accounts have been drawn up on the going concern basis. The company owes the director £137,638, which could be required for repayment without notice. The company is therefore dependent upon the continued support of the director. The director does not consider their own support likely to be withdrawn.

	If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.


	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable and represents the sale of pet products, stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

TORTOISE & HARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Fixtures and equipment					Reducing balance basis at 15% per annum
	Computer equipment					Reducing balance basis at 33% per annum
	Leasehold improvements					Straight line basis at 10% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	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, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value in the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

TORTOISE & HARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Stock

	Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.

	The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

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

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

TORTOISE & HARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Current and deferred tax assets and liabilities are not discounted.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

4	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2025	2024
	Average number of employees	7	8

TORTOISE & HARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


5	TANGIBLE ASSETS
		Fixtures and equipment	Computer equipment	Leasehold improvements		Total
		£	£		£	£
	Cost
	At 1 December 2024	30,891	1,080		25,196	57,167

	Additions	607	-		1,243	1,850


	At 30 November 2025	31,498	1,080		26,439	59,017


	Accumulated depreciation and impairments
	At 1 December 2024	6,796	491		4,141	11,428

	Charge for year	3,650	195		2,589	6,434


	At 30 November 2025	10,446	686		6,730	17,862


	Net book value
	At 1 December 2024	24,095	589		21,055	45,739


	At 30 November 2025	21,052	394		19,709	41,155


6	DEBTORS
					2025	2024
					£	£
	Prepayments and accrued income				4,383	11,516


7	CREDITORS: Amounts falling due within one year
					2025	2024
					£	£
	Bank loans and overdrafts				12,602	-
	Trade creditors				5,661	14,318
	Taxation and social security				4,273	4,408
	Accruals and deferred income				2,399	2,604
	Other creditors				175,405	169,249


					200,340	190,579

TORTOISE & HARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025


8	CONTINGENCIES AND COMMITMENTS

	Other Commitments

	Amounts falling due under operating leases:		2025	2024
			£	£
	In less than one year		20,532	22,000
	In more than one but less than five years		88,000	88,000
	In more than five years		49,500	71,500


			158,032	181,500


9	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	A L Browning
	Director		2025	2024
			£	£
	Advances from director	The director has made advances to the company which are payable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	137,638	134,814


	B Smith
	Former director		2025	2024
			£	£
	Advances from former director	The former director has made advances to the company which are payable on demand. No interest has been charged on these advances. At the year end, the company owed the former director the following amount:	37,767	34,435