REGISTERED NUMBER: 00725477 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

H.Semmence & Co. Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

5

116,736

140,515

Current assets

Stocks

59,173

50,489

Debtors

6

327,097

314,006

Prepayments and accrued income

64,262

65,661

Cash at bank and in hand

102,314

69,072

552,846

499,228

Creditors

Amounts falling due within one year

7

(60,410

)

(62,408

)

Net current assets

492,436

436,820

Total assets less current liabilities

609,172

577,335

Creditors

Amounts falling due after more than one year

8

(810,215

)

(758,639

)

Provisions for liabilities

(10,683

)

(11,073

)

Net liabilities

(211,726

)

(192,377

)

Capital and reserves

Called up share capital

10,000

10,000

Retained earnings

(221,726

)

(202,377

)

(211,726

)

(192,377

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2026 and were signed on its behalf by:

Mr I Forkes - Director

1.	Statutory information

H.Semmence & Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00725477

Registered office:

46-60 Ayton Road

Wymondham

Norfolk

NR18 0QH

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leashold property - straight line over the remaining term of the lease

Plant and machinery - 15% straight line

Furniture & fittings - 15% straight line

Public service vehicles - 15 to 25 years straight line

Other vehicles - 20% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments

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

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis despite the balance sheet showing negative reserves. The company is trading profitably, generating cash and is in a net asset position.

The directors have confirmed that the company will continue to receive the support of its fellow subsidiary, Ambassador Travel (Anglia) Limited, and on this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

Cost of tyres

The company adjusts the cost of tyres in the profit and loss to take into account the remaining life of the tyre at the year end. The tread depths of tyres in use are measured and this information is used to calculate the remaining value of the tyres at the year end.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are reocngised as a liability in the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	Employees and directors

The average number of employees during the year was 21 (2024 - 21 ) .

5.	Tangible fixed assets

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

Cost

At 1 August 2024

27,864

14,808

5,068

Additions

-

-

3,721

Disposals

-

-

-

At 31 July 2025

27,864

14,808

8,789

Depreciation

At 1 August 2024

27,864

11,074

4,431

Charge for year

-

1,058

402

Eliminated on disposal

-

-

-

At 31 July 2025

27,864

12,132

4,833

Net book value

At 31 July 2025

-

2,676

3,956

At 31 July 2024

-

3,734

637

Public

Motor

service

vehicles

vehicles

Totals

£

£

£

Cost

At 1 August 2024

9,045

454,388

511,173

Additions

-

-

3,721

Disposals

-

(213,079

)

(213,079

)

At 31 July 2025

9,045

241,309

301,815

Depreciation

At 1 August 2024

9,045

318,244

370,658

Charge for year

-

23,877

25,337

Eliminated on disposal

-

(210,916

)

(210,916

)

At 31 July 2025

9,045

131,205

185,079

Net book value

At 31 July 2025

-

110,104

116,736

At 31 July 2024

-

136,144

140,515

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

82,050

102,731

Other debtors

245,047

211,275

327,097

314,006

Within other debtors is £241,525 (2024: £201,525) which is owed by a company in which the directors have an interest. No interest has been charged on this balance.

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

33,143

38,202

Other creditors

17,267

14,206

60,410

62,408

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

6,667

16,667

Amounts owed to group undertakings

803,548

741,972

810,215

758,639

9.	Ultimate controlling party

The ultimate controlling party is Vistafield Limited.

10.	Other financial commitments

Operating lease commitments not included on the balance sheet amount to £5,833 (2024: £5,000)

11.	Related party transactions

At the year end the company owed a fellow subsidiary £803,548 (2024: £741,972)

No interest has been charged in relation to the balances with either company.