REGISTERED NUMBER: 01221548 (England and Wales)

The Harratts Group Limited

Financial Statements

for the Year Ended 29 December 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S M Harratt

Mr S T Harratt

SECRETARY:

Mrs S M Harratt

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

01221548 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Accountants & Business Advisors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

BANKERS:

HSBC Bank plc

PO Box 105

33 Park Row

Leeds

West Yorkshire

LS1 1LD

FIXED ASSETS

Tangible assets

4

130,793

21,988

Investments

5

2,510

2,510

Investment property

6

3,266,200

5,825,000

3,399,503

5,849,498

CURRENT ASSETS

Stocks

118,515

137,515

Debtors

7

97,251

98,666

Cash at bank and in hand

2,113,662

222,769

2,329,428

458,950

CREDITORS

Amounts falling due within one year

8

6,114,394

6,534,209

NET CURRENT LIABILITIES

(3,784,966

)

(6,075,259

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(385,463

)

(225,761

)

CREDITORS

Amounts falling due after more than one year

9

(85,016

)

(225,846

)

PROVISIONS FOR LIABILITIES

12

(44,484

)

(122,696

)

NET LIABILITIES

(514,963

)

(574,303

)

CAPITAL AND RESERVES

Called up share capital

13

100,000

100,000

Retained earnings

14

(614,963

)

(674,303

)

SHAREHOLDERS' FUNDS

(514,963

)

(574,303

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 July 2026 and were signed on its behalf by:

Mrs S M Harratt - Director

Mr S T Harratt - Director

1.	STATUTORY INFORMATION

The Harratts Group 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 company's business address is Graphite House, Suites 6, 7 & 8 High Street, Crigglestone, West Yorkshire, WF4 3EF.

The company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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.

Going concern

The business activities of The Harratts Group Limited are now focused around the management of their property portfolio.

The Harratts Group continue to consider and monitor further actions it could take to strengthen its cash position and reduce operating costs. The Directors acknowledge that in an event of an economic downturn in the property market, the certainty of its income streams from rental income going forward could affect profitability and availability of funds.

In view of the above, certain actions have been taken to improve cash flow, maximise property potential and to further reduce costs in the business.

In November 2024, the Harratts Group property in Leeds was sold introducing £2.6m cash into the business. The introduction of this cash enabled the Reward Finance Group Limited bank loan of £750k to be repaid, thus saving £9.5k of interest costs per month. The day to day current account continues to be with HSBC but without any overdraft facility. All security relative to the loan and aforementioned overdraft facility have now been released.

In addition, The Harratts Group continue to benefit from very supportive shareholders and directors, demonstrated by the enduring commitment of their financial support with the credit balances on their directors' loan account.

As previously reported, a property consultant was appointed to give specialised advice and review all existing leases and property rentals to ensure that they are current at all times. Their expertise will be used to market and advise on any properties that may become vacant in the future. This enables the Group's income to be maximised at all times.

Operating costs are continually being reviewed with Directors' salaries being reduced along with administration expenses and various other Group costs that have now been cancelled, in light of the entity's simplified operational activity.

As a result of the aforementioned factors being taken into consideration, The Directors have a reasonable expectation that The Harratts Group Limited has adequate resources to continue in operational existence for the foreseeable future and continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about The Harratts Group Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under Section 405 of the Companies Act 2006 from the requirements to prepare consolidated financial statements for its subsidiaries in Liquidation, as detailed in Note 11, due to the severe long-term restrictions that prohibit The Harratts Group Limited from exercising its rights over the assets and management of these subsidiaries.

In addition, the company has also taken the exemption from the consolidation of its subsidiary S & S Wakefield Limited (dormant) on the grounds of its immateriality.

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 solely comprises rents receivable which is recognised on an accruals basis.

Tangible fixed assets

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

Leasehold property improvements

- Over the reduced term of the lease, with balance now impaired

Plant & equipment

- 15% on reducing balance

Fixtures & fittings

- 15% on reducing balance

Computer equipment

- 33% on cost

Fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The freehold property is professionally revalued at least every three years with a valuation by the directors in the interim. The last formal valuation was dated 30 July 2025, completed by Sanderson Weatherall LLP of Leeds.

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating lease agreements

Where the company retains substantially all the risks and rewards of ownership of the asset subject to the lease, as lessor, the asset is shown within fixed assets and is depreciated over its useful life. Rental income from these operating leases is recognised on a straight line basis over the period of the lease. Operating lease incentives offered by the company are accounted for as a reduction of the rental income and are allocated over the shorter of the lease term and the period to the first rent review where market rentals will be receivable.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Investments

Shares in unlisted investments are held at cost less any provision for impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Freehold

property

Plant &

property

improvement

equipment

£

£

£

COST

At 30 December 2024

-

131,761

56,632

Additions

-

-

1,582

Disposals

-

-

(583

)

Reclassification/transfer

108,800

-

-

At 29 December 2025

108,800

131,761

57,631

DEPRECIATION

At 30 December 2024

-

131,761

37,658

Charge for year

-

-

2,882

Eliminated on disposal

-

-

(447

)

At 29 December 2025

-

131,761

40,093

NET BOOK VALUE

At 29 December 2025

108,800

-

17,538

At 29 December 2024

-

-

18,974

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 30 December 2024

37,120

11,765

237,278

Additions

-

2,637

4,219

Disposals

-

(6,592

)

(7,175

)

Reclassification/transfer

-

-

108,800

At 29 December 2025

37,120

7,810

343,122

DEPRECIATION

At 30 December 2024

34,534

11,337

215,290

Charge for year

390

806

4,078

Eliminated on disposal

-

(6,592

)

(7,039

)

At 29 December 2025

34,924

5,551

212,329

NET BOOK VALUE

At 29 December 2025

2,196

2,259

130,793

At 29 December 2024

2,586

428

21,988

5.	FIXED ASSET INVESTMENTS

Shares in

group

Unlisted

undertakings

investments

Totals

£

£

£

COST

At 30 December 2024

and 29 December 2025

30,010

2,500

32,510

PROVISIONS

At 30 December 2024

and 29 December 2025

30,000

-

30,000

NET BOOK VALUE

At 29 December 2025

10

2,500

2,510

At 29 December 2024

10

2,500

2,510

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Harratts of Wakefield Limited (in Liquidation)

Registered office: First Floor Lowgate House, Lowgate, Hull, HU1 1EL

Nature of business: In liquidation

%

Class of shares:

holding

Ordinary

100.00

Harratts Limited (in Liquidation)

Registered office: First Floor Lowgate House, Lowgate, Hull, HU1 1EL

Nature of business: In liquidation

%

Class of shares:

holding

Ordinary

100.00

Harratts M1 Limited (in Liquidation)

Registered office: First Floor Lowgate House, Lowgate, Hull, HU1 1EL

Nature of business: In liquidation

%

Class of shares:

holding

Ordinary

100.00

S & S Wakefield Limited

Registered office: 33 George Street, Wakefield, WF1 1LX

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

The unlisted investment represents a minority interest in New Waterton Park Limited, a company registered in England.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 30 December 2024

5,825,000

Disposals

(2,450,000

)

Reclassification/transfer

(108,800

)

At 29 December 2025

3,266,200

NET BOOK VALUE

At 29 December 2025

3,266,200

At 29 December 2024

5,825,000

One of the company's investment properties was last formally valued on the 30 July 2025 by Sanderson Weatherall LLP of Leeds, on a Market Value basis. The valuations was provided for the purpose of secured lending.

The remaining investment property was formally valued as at 17 February 2022 by K. Short & Co, Wakefield, on a Market Value basis.

The directors consider the valuations to still be appropriate as at 29 December 2025.

In respect of investment properties, which are stated at valuation, the comparable historical cost is £2,709,506 (2024: £4,743,093).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

57,279

34,321

Other debtors

12,479

41,999

Prepayments and accrued income

27,493

22,346

97,251

98,666

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Loans from pension scheme

115,700

106,348

Other loans

-

750,000

Hire purchase contracts (see note 10)

20,557

31,960

Trade creditors

75,882

107,182

PAYE and NIC

105,418

104,318

VAT

529,553

31,001

Other creditors

29,427

37,331

Directors' current accounts

5,133,112

5,088,791

Accruals and deferred income

104,745

277,278

6,114,394

6,534,209

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Loans from pension scheme

85,016

205,289

Hire purchase contracts (see note 10)

-

20,557

85,016

225,846

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

20,557

31,960

Between one and five years

-

20,557

20,557

52,517

Non-cancellable

operating leases

2025

2024

£

£

Within one year

-

34,200

Between one and five years

-

133,950

-

168,150

Company as lessor

The company has entered into various leases in respect of its investment property. At 29 December 2025, the minimum rental income receivable under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

296,860

268,027

Between two and five years

847,667

638.167

More than five years

256,625

365,125

1,401,152

1,271,319

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Loans from pension scheme

200,716

311,637

Other loans

-

750,000

Hire purchase contracts

20,557

52,517

221,273

1,114,154

Other loans (Reward Finance Group Limited) were secured by a fixed charge over the freehold property lying to the south of High Street, Crigglestone, Wakefield, West Yorkshire.

The loans from The Harratts Group Pension Scheme incur interest on a quarterly basis which is charged at 3% above bank base rate. The loans are wholly repayable within the next five years.They are secured by a fixed charge over the freehold property lying to the south of Huddersfield Road, Darton, Barnsley, South Yorkshire.

Hire purchase contracts are secured on the assets to which they relate.

12.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

44,484

122,696

Deferred

tax

£

Balance at 30 December 2024

122,696

Accelerated capital allowances

(78,212

)

Balance at 29 December 2025

44,484

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100,000

Ordinary

£1

100,000

100,000

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

14.

RESERVES

Retained

earnings

£

At 30 December 2024

(674,303

)

Profit for the year

59,340

At 29 December 2025

(614,963

)

Included within retained earnings at 29 December 2025 is an amount of £665,494 (2024:£1,081,90) which is non-distributable. This relates to an accumulated increase in the fair value of properties held by the company, which have been recognised as investment.

15.	RELATED PARTY DISCLOSURES