Company registration number 01879913 (England and Wales)
HARTS OF HONITON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
HARTS OF HONITON LTD
COMPANY INFORMATION
Directors
Mr R N Hooper
Mr K A Hoskin
Mr N Robinson
Secretary
Mr R N Hooper
Company number
01879913
Registered office
Northcote Hill
Honiton
Devon
United Kingdom
EX14 9UP
Accountants
Streets Bush Limited
Melrose House
Pynes Hill
Rydon Lane
Exeter
Devon
EX2 5AZ
HARTS OF HONITON LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HARTS OF HONITON LTD
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
45,559
49,393
Current assets
Stocks
393,606
479,959
Debtors
5
69,062
35,697
Cash at bank and in hand
232,048
754,169
694,716
1,269,825
Creditors: amounts falling due within one year
6
(136,848)
(99,549)
Net current assets
557,868
1,170,276
Total assets less current liabilities
603,427
1,219,669
Provisions for liabilities
(9,907)
(9,996)
Net assets
593,520
1,209,673
Capital and reserves
Called up share capital
80,000
80,000
Retained earnings
513,520
1,129,673
Total equity
593,520
1,209,673
HARTS OF HONITON LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 May 2026 and are signed on its behalf by:
Mr R N Hooper
Mr K A Hoskin
Director
Director
Company Registration No. 01879913
HARTS OF HONITON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Harts of Honiton Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Northcote Hill, Honiton, Devon, United Kingdom, EX14 9UP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of motor vehicles and vehicle repairs, excluding value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill recognised represents the excess of the fair value and directly attributable costs to the purchase consideration over the fair value of the identifiable net assets, liabilities and contingent liabilities.

Goodwill is amortised over its expected useful life and has now been fully amortised.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
25% on cost and 15% reducing balance

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.

HARTS OF HONITON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Used vehicle stock is valued at trade value at the balance sheet date.

All other stock is valued at the lower of cost and net realisable value.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

HARTS OF HONITON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Employee 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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

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

2025
2024
Number
Number
Total
18
20
HARTS OF HONITON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
80,000
Amortisation and impairment
At 1 January 2025 and 31 December 2025
80,000
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
67,328
175,622
242,950
Additions
838
5,036
5,874
At 31 December 2025
68,166
180,658
248,824
Depreciation and impairment
At 1 January 2025
59,202
134,355
193,557
Depreciation charged in the year
1,394
8,314
9,708
At 31 December 2025
60,596
142,669
203,265
Carrying amount
At 31 December 2025
7,570
37,989
45,559
At 31 December 2024
8,126
41,267
49,393
HARTS OF HONITON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
32,658
9,914
Other debtors
36,404
25,783
69,062
35,697
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
37,133
36,239
Taxation and social security
80,070
47,898
Other creditors
19,645
15,412
136,848
99,549
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
-
0
40,000
2025-12-31 2025-01-01 false false false 13 May 2026 CCH Software CCH Accounts Production 2026.100 The principle activity in the year was that of sale of used cars and light motor vehicles.
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