REGISTERED NUMBER: 01427685 (England and Wales)

F.W. HARRISON (COMMERCIALS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

9

DIRECTORS:

Mr P A Harrison

Ms J L Harrison

Mr J T Harrison

REGISTERED OFFICE:

Holme Farm

Green Lane

Clifton

ASHBOURNE

Derbyshire

DE6 2BL

REGISTERED NUMBER:

01427685 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

BANKERS:

Barclays Bank plc

Leicester

Leicestershire

LE87 2BB

FIXED ASSETS

Tangible assets

4

2,358,383

2,178,198

Investments

5

98

98

Investment property

6

570,797

140,000

2,929,278

2,318,296

CURRENT ASSETS

Stocks

3,453,400

2,437,583

Debtors

7

2,850,531

6,568,444

Cash at bank and in hand

4,019,843

1,340,080

10,323,774

10,346,107

CREDITORS

Amounts falling due within one year

8

1,659,821

1,476,376

NET CURRENT ASSETS

8,663,953

8,869,731

TOTAL ASSETS LESS CURRENT LIABILITIES

11,593,231

11,188,027

PROVISIONS FOR LIABILITIES

167,271

121,728

NET ASSETS

11,425,960

11,066,299

CAPITAL AND RESERVES

Called up share capital

9

200

200

Fair value reserve

10

43,978

43,978

Retained earnings

11,381,782

11,022,121

SHAREHOLDERS' FUNDS

11,425,960

11,066,299

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2026 and were signed on its behalf by:

Ms J L Harrison - Director

1.	STATUTORY INFORMATION

F.W. Harrison (Commercials) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about F.W. Harrison (Commercials) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The subsidiary was dormant for the year ended 31 August 2025 and the year ended 31 August 2024.

Significant judgements and estimates

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements:

Depreciation - £177,819 (2024: £169,297) - the useful economic lives of fixed assets can vary. Management review the policies and determine their appropriateness based on historic experience and the current expectations of useful life.

Recoverability of related party debtors £2,162,031 (2024: £5,379,395) - amounts owed by related parties are reviewed and a reserve is recorded if, in the directors' judgement, the collectability of the balance is uncertain. The directors consider the full balance to be recoverable.

Bad debt provision - £573,095 (2024: £573,544) - amounts owed by customers are reviewed regularly for collectability and a reserve is recorded if, in the directors' judgement, the collectability of the balance is uncertain.

Carrying value of stock £3,453,400 (2024: £2,437,583) - when calculating the stock provision, management considers the nature and condition of stock, together with the age of stock, and sales activity. When a supplier invoice does not provide a breakdown of the individual vehicle values, the split is decided by a director based on their knowledge and expertise of the industry.

Turnover

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

Turnover mainly relates to the sale of commercial vehicles.

Turnover for the sale of vehicles is recognised when significant risks and rewards of ownership of the vehicle have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income and vehicle hire is recognised in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Land has not been depreciated.

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions.

Debtors

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

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 September 2024

1,747,939

1,057,103

98,105

Additions

-

284,105

62,572

Disposals

-

(113,950

)

-

At 31 August 2025

1,747,939

1,227,258

160,677

DEPRECIATION

At 1 September 2024

210,640

627,537

81,607

Charge for year

21,316

100,327

6,908

Eliminated on disposal

-

(37,506

)

-

At 31 August 2025

231,956

690,358

88,515

NET BOOK VALUE

At 31 August 2025

1,515,983

536,900

72,162

At 31 August 2024

1,537,299

429,566

16,498

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2024

289,034

62,918

3,255,099

Additions

226,545

5,864

579,086

Disposals

(209,970

)

-

(323,920

)

At 31 August 2025

305,609

68,782

3,510,265

DEPRECIATION

At 1 September 2024

108,568

48,549

1,076,901

Charge for year

45,581

3,687

177,819

Eliminated on disposal

(65,332

)

-

(102,838

)

At 31 August 2025

88,817

52,236

1,151,882

NET BOOK VALUE

At 31 August 2025

216,792

16,546

2,358,383

At 31 August 2024

180,466

14,369

2,178,198

Included in cost of land and buildings is freehold land of £ 682,134 (2024 - £ 682,134 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 31 August 2025

98

NET BOOK VALUE

At 31 August 2025

98

At 31 August 2024

98

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

140,000

Additions

430,797

At 31 August 2025

570,797

NET BOOK VALUE

At 31 August 2025

570,797

At 31 August 2024

140,000

The directors believe the net book value is not materially different to the fair value as at 31 August 2025.

Fair value at 31 August 2025 is represented by:

£

Valuation in 2024

43,978

Cost

526,819

570,797

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

176,361

239,292

Other debtors

2,617,171

5,834,535

Directors' current accounts

-

146,256

Corporation tax

-

263,738

VAT

41,943

28,244

Prepayments and accrued income

15,056

56,379

2,850,531

6,568,444

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

681,455

624,313

Amounts owed to group undertakings

117,379

117,379

Corporation tax

83,742

107,196

Social security and other taxes

30,782

21,725

Other creditors

586,019

599,292

Directors' current accounts

155,115

-

Accruals and deferred income

5,329

6,471

1,659,821

1,476,376

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

200

Ordinary

£1

200

200

10.

RESERVES

Fair

value

reserve

£

At 1 September 2024

and 31 August 2025

43,978

11.	RELATED PARTY DISCLOSURES

F.W. Harrison (Commercials) Limited have lent a related party £2,162,031 (2024: £5,379,395). There are no repayment terms attached to the loan, but interest is being charged.

Included in other debtors is an amount of £455,140 (2024: £455,140) that relate to costs to be re-charged to a related party.

Included in creditors is £117,379 (2024: £117,379) owing to a group company. There are no fixed repayment terms attached to the loan and no interest is being charged.