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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
Page Kirk LLP
Chartered Accountants and Statutory Auditors
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB
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CONTENTS
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COMPANY INFORMATION
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STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors, in preparing this Strategic Report, have complied with s414C of the companies act 2006.
The company's principal activities are that of commercial vehicle sales, service, and repair.
2025 saw a significantly improved performance in RH Commercial Vehicles (RHCV) following a very disappointing prior year. A reasonable forward orderbook carried into the first quarter and a number of substantial orders through the early part of the year generated registrations to meet our manufacturer volume targets, something missed in 2024. That said, the overall market for medium and heavy-duty vehicles (MHDV) was down on the prior year (2024) by some 10%+ as business confidence weakened during the period following the unprecedented increase in employers’ national insurance contributions and thresholds alongside substantive wage pressure following the increases to the national minimum wage. This decline in registrations followed through into reduced customer orders in Q4 of the year; correspondingly we are back in the cycle of challenges around this year’s volume target. Data for the Q1 this year showed registrations down a further 10% nationally against the corresponding period last year. The year will also be remembered for increasing insolvency issues; we suffered several business failures during the year. Consequently, we have bolstered our credit management and further in this current year by recruitment of a Credit Manager, along with the introduction of more sophisticated credit analysis and the management of credit limits. Although all business was put under considerable pressure in the year, the logistics sector is notorious for working with very fine margins, that pressure was too much to bear for a number borne out by our own experience and wider notifications through various media across the country. Of course there were plenty of positives; our first full year of operation in Coventry, acquired in late 2024 allowed us to start to build workshop volume, although there is work to do, I was pleased to see robust growth in that business unit. Across the business we almost hit a long-standing aspiration billing just short of 150,000 labour hours through our now seven operational sites with the corresponding parts sales contributing to our overall result. Our aftersales business is now circa £30m turnover in its own right . With RHCV, the dampener was business insolvency, and although we have managed to reallocate or dispose of assets displaced by these occurrences the business suffered a hit to profitability consequently. At the time of writing the effects of the conflict in the Middle East alongside the continued war in the Ukraine are still playing out. Our own cost base is of course affected, road fuel particularly, however pressure of our customer base of which fuel is typically 30 – 40% of total operating costs is immense. Some operators of course will be protected by contractual ‘escalators’ but all the same fuel purchases are generally settled in days not weeks or months, putting acute strain on cash-flow for many.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Taking a positive from the situation above, product development in battery electric vehicles (BEV) continues apace; the distance range we can now rely on across the product range is quite extraordinary and new grant funding through a very welcome government initiative ZETG (zero emission truck grant) goes a long way to price parity with diesel (ICE) equivalents.
If we can manage charging capacity which stills impedes many projects then we should be able to cultivate some growth in this area, something that has been a challenge of us, our peers, and the industry as a whole. In summary, business conditions are challenging, simply reading any media will confirm that, but we are a resilient business, continuing to invest in our people, dealerships and systems including some early work with artificial intelligence (AI) which will open up numerous avenues of efficiency across all our operations. Our Q1 management figures are solid, as such despite the headwinds we continue to drive the business forward.
The management of the business and the execution of the Company's strategy are subject to a number of risks. The key business risks and uncertainties affecting the Company are considered to relate to competition from other companies operating in the same market. The Company manages risk by providing excellent service and maintaining strong relationships with both customers and suppliers.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company's activities expose it to a number of financial risks relating to credit risk, cash flow risk and liquidity risk. The Company does not use derivative financial instruments.
Credit risk The Company's principal financial assets are bank balances and cash, trade and other debtors. The Company's credit risk is primarily attributable to its trade debtors. The amounts presented in the Company's balance sheet are net of allowances for doubtful debts. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The Company has no significant concentration of credit risk, with exposure spread over a large number of counter parties and customers. Cash flow risk Cash flow risk is the risk exposure to variability in cash flows that is attributable to a particular risk associated with acquisition of capital assets through short term borrowings such as repayment and interest payment on short term borrowings. Liquidity risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Company uses a mixture of short-term debt finance from within the group, headed by The RH Group Ltd, cash flows generated from within the Company and external borrowings.
The Directors of the Company, as those of all UK Companies, must act in accordance with a set of general duties. These duties are detailed in section 172 (1) of the UK Companies Act 2006 which can be summarised as follows; "a director of a company must act in a way they consider, in good faith, would be most likely to promote the success of the Group for the benefit of its shareholders as a whole, and in doing so have regard (amongst other matters) to:
• the likely consequences of any decisions in the long term • the interest of the Company's employees • the need to foster the Company's business relationship with suppliers, customers and others • the impact of the Company's operations on the community and the environment • the desirability of the Company maintaining a reputation for high standards of business conduct and • the need to act fairly between shareholders of the Company It is important to recognise that in an organisation of this size, some of the Directors duties are fulfilled through policies and governance which delegate day to day decision making to employees of the Company. The following paragraphs summarise how the Directors fulfil their duties:
This report was approved by the board on 4 June 2026 and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £401 thousand (2024 - loss £431 thousand).
The directors who served during the year were:
The Directors have prepared this statement of going concern for The RH Group Ltd and its subsidiary companies utilising shared resources and linked funding.
2025 was in many respects a good year overall; RH Commercial Vehicles returned to profitability following a challenging prior year with much improved new vehicle sales volume being key. That said, the market for new trucks and light commercial vans was significantly down nationally against the prior year, and at the time of writing looks to be tracking down further ( -10% Q1YoY) in the current year as the effects of governmental economic policies and geopolitical events weigh on business sentiment. Correspondingly I expect our new registrations to finish lower in the current year than 2025. However, in our aftersales business, in Coventry a full year’s trading following its acquisition in November 2024 we saw good growth in both labour hours and parts sales invoiced; both records as might be expected with a larger area of influence but pleasing all the same and more so that the growth pattern continues in this current year. As has been the case since our acquisition in 2012, we continue to look for further opportunities for growth despite the current headwinds. There will always be demand for transport solutions in both new technologies, BEV (battery electric vehicles) and ICE (internal combustion engine) variants. The movement of goods is something that cannot be replaced by artificial intelligence; as such it is inevitable that assets continue to need replacement or repair affording opportunities to us in sales, aftersales, contract hire and rental. Providing we continue to offer high service levels for which we have a strong reputation I have little concern as to continued business volumes; the task though is to generate margin and profitability in this challenging period. As such, although we are working hard to do so, my expectation is to deliver a result similar to 2025, which in the current climate feels both realistic and acceptable.
As permitted by section 414C(11) of the Companies Act 2006, certain matters which are required to be disclosed in the Directors' Report have been omitted as they are included in the Strategic Report instead.
The Company has made qualifying third party indemnity provisions for the benefit of its directors which were made in prior years and remain in force at the date of this report.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
UK businesses continue to face challenging conditions, in part as a result of UK Government policies, recent changes to employer NIC (national insurance contributions) have added significantly to the company's employment costs and will inevitably impact on the company's overall profitability alongside proposed changes to employment legislation and wider taxation initiatives.
In addition, global events continue to colour business sentiment, with specific concerns around oil prices, as the company's customer base is transport focused, fuel remains a key cost effecting their own profitability, and thus outlook including investment in new and used vehicles, in turn inevitably potentially reflecting on RH Commercial Vehicles' financial performance. However, 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 these are non-adjusting events with the greatest impact on the business 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. RH Commercial Vehicles Ltd 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.
Greenhouse gas emissions, energy consumption and energy efficiency action
The Company's greenhouse gas emissions and energy consumption for the year have not been disclosed in these financial statements due to the Company being a subsidiary of a larger group whereby the Parent discloses this information.
There have been no significant events affecting the Company since the year end.
The auditors, Page Kirk LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are responsible for preparing the Strategic Report, 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 judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RH COMMERCIAL VEHICLES LTD (PREVIOUSLY R. H. COMMERCIAL VEHICLES LIMITED)
FOR THE YEAR ENDED 31 DECEMBER 2025
We have audited the financial statements of RH Commercial Vehicles Ltd (Previously R. H. Commercial Vehicles Limited) (the 'Company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes, 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
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.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RH COMMERCIAL VEHICLES LTD (PREVIOUSLY R. H. COMMERCIAL VEHICLES LIMITED) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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. 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the 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 Strategic Report or the Directors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RH COMMERCIAL VEHICLES LTD (PREVIOUSLY R. H. COMMERCIAL VEHICLES LIMITED) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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 Auditors' 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.
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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the Company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, taxation legislation and money laundering regulations. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the understatement of revenue. Our audit procedures to respond to these risks included: • Enquiries of management about their own identification and assessment of the risks of irregularities. • Sample testing on the posting of journals. • Reviewing regulatory correspondence and professional fees. • Detailed substantive testing on the completeness of income. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
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 Auditors' Report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RH COMMERCIAL VEHICLES LTD (PREVIOUSLY R. H. COMMERCIAL VEHICLES LIMITED) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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 Auditors' 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.
for and on behalf of
Chartered Accountants and Statutory Auditors
Sherwood House
7 Gregory Boulevard
NG7 6LB
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PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
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BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 31 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is: Birkbeck House Colliers Way Nottingham England NG8 6AT
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company is a parent Company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions which have been complied with, including notification of, and no objection to, the use of exemptions by the Company's shareholders. The Company is included in the consolidated financial statements of its parent undertaking, The RH Group Ltd. In preparing the financial statements, the Company has taken the following exemptions: • from disclosing key management personnel compensation, as required by paragraph 7 of Section 33 ‘Related Party Disclosures’. • from presenting a reconciliation of the number of shares outstanding at the beginning and end of the year, as required by paragraph 12 of Section 4 ‘Statement of Financial Position’. • from presenting a statement of cash flow, as required by paragraph by Section 7 ‘Statement of Cash Flows’. On the basis that equivalent disclosures are given in the consolidated financial statements, the Company has also taken advantage of the exemption not to provide certain disclosures as required by Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues'.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Directors have prepared this statement of going concern for The RH Group Ltd and its subsidiary companies utilising shared resources and linked funding.
2025 was in many respects a good year overall; RH Commercial Vehicles returned to profitability following a challenging prior year with much improved new vehicle sales volume being key. That said, the market for new trucks and light commercial vans was significantly down nationally against the prior year, and at the time of writing looks to be tracking down further ( -10% Q1YoY) in the current year as the effects of governmental economic policies and geopolitical events weigh on business sentiment. Correspondingly I expect our new registrations to finish lower in the current year than 2025. However, in our aftersales business, in Coventry a full year’s trading following its acquisition in November 2024 we saw good growth in both labour hours and parts sales invoiced; both records as might be expected with a larger area of influence but pleasing all the same and more so that the growth pattern continues in this current year. As has been the case since our acquisition in 2012, we continue to look for further opportunities for growth despite the current headwinds. There will always be demand for transport solutions in both new technologies, BEV (battery electric vehicles) and ICE (internal combustion engine) variants. The movement of goods is something that cannot be replaced by artificial intelligence; as such it is inevitable that assets continue to need replacement or repair affording opportunities to us in sales, aftersales, contract hire and rental. Providing we continue to offer high service levels for which we have a strong reputation I have little concern as to continued business volumes; the task though is to generate margin and profitability in this challenging period. As such, although we are working hard to do so, my expectation is to deliver a result similar to 2025, which in the current climate feels both realistic and acceptable.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life, which is 10 years.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 profit or loss.
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
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 Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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 and in any future periods affected. The directors have identified the useful economic lives of tangible fixed assets as a critical judgement in preparing these financial statements. Residual values are estimated for commercial vehicles held as fixed assets. The directors use available market date, history of recoverable values and their judgement in making these estimates.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 22
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 23
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Taxation (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 25
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 26
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 27
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 28
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 29
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
At the year-end, bank overdrafts of £1,666k (2024 - £2,157k) were secured with a fixed and floating charge, with a negative pledge, over all of the property or undertaking of the company.
Additionally, hire purchase agreements of £1,662k (2024 - £1,187k) were secured with fixed charges, with a negative pledge over the assets in the agreement in which they relate to.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contribution scheme, the assets being held separate from the Company in an independent administered fund. The employer contributions are charged directly to the Income Statement.
In the current year there was a charge to the Profit and Loss account in respect of the pension costs for the defined contribution scheme of £198k (2024 - £156k). Contributions totalling £42k (2023 - £38k) were payable to the fund at the year end and are included within creditors. The ultimate controlling party are the directors of The RH Group Ltd as a result of controlling 100% of the issued share capital of The RH Group Ltd.
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