FOR THE YEAR ENDED 30 NOVEMBER 2025
HARVEY COMMERCIAL HOLDINGS LIMITED
COMPANY INFORMATION
HARVEY COMMERCIAL HOLDINGS LIMITED
CONTENTS
HARVEY COMMERCIAL HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The director presents the strategic report for the year ended 30 November 2025.
The director is pleased to report his confidence the business would improve profitability in the year to 30 November 2025.
The group has invested heavily in its fire door operation with production now centred on a purpose-built factory in Newport and volume production is anticipated to show good growth in the year to 30 November 2026. The group has obtained all the required certification standards and there has been considerable interest at an exhibition at the NEC in Birmingham.
Following, the opening of its newest venue, the group has focused on consolidating operations in the venues side of its business, while continuing to diversify revenue streams through growth in corporate events.
Investments were made in sales, marketing and operational systems for the group's venues to strengthen booking performance, improve forecasting capability and provide greater visibility of commercial performance across the businesses. Whilst profitability was impacted by the continued establishment of the Group's newest venue, overall trading remained resilient and the wider business maintained a stable level of profitability. Forward bookings and sales activity remain strong, and the directors are confident in the Group's prospects for the forthcoming year.
Investing in high quality staff retention continues to be a key focus and strength of the business. There has been a good start to the new financial year and with a growing client base, the likelihood of significant growth. Whilst world trade uncertainty and volatility are a risk the group has a broad spread of clients in differing sectors and this gives cause for optimism.
Sustainability and green energy policies continue to be an important driving force in investment decisions and the company has achieved a reduction in owned transport emissions.
The principal risk is the current uncertain global trading tariffs and the war in Iran has increased the cost of petrol and diesel that will have an effect if stability does not return in the near future. The group will limit the increased costs where possible and consider a faster move to electric vehicles where efficient to do so.
The group maintains a strong payment culture compared with competitors, encouraging beneficial relationships with our suppliers, contractors, and staff loyalty.
A key strength of the business continues to be its continuous drive to enhance and improve the quality of its staff. Staff turnover is low and demonstrates the strength of the company culture, a quality valued by our customers. The Board would like to thank its staff for their hard work and commitment to providing a high-quality service to our customers. A detailed strategic review of the business is being conducted to ensure the business structure is fit to operate efficiently over the next 3-5 years.
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HARVEY COMMERCIAL HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
The group has a sophisticated system to manage contracts giving detailed performance data which is used to assess ongoing profitability and to provide strategic information on those sectors of its market where it can channel its resources. During the year, the reporting and quality of data to management has enabled us to improve profitability with a concerted focus on efficiency.
The group uses several KPIs to measure performance and control costs. This is monitored on a regular basis and drives decisions on future strategy.
The group monitors its debtors, creditors, and cash balances to ensure it maintains the necessary liquidity to meet any short or long term demands on the company and has enhanced its cyber security to guard against attacks all too frequent a problem faced by all businesses. Cyber security and penetration testing is conducted each year to ensure the business is protected as far as possible against cyber-attacks.
Directors within the group review detailed information on performance and regular meetings are held with senior staff to manage projects in an efficient way and reduce unproductive time. This has been demonstrated by the increased margins achieved and enhanced reporting is being introduced over the next financial year.
Board meetings within the group are held regularly to ensure corporate governance is being maintained and to promote and maintain good Health & Safety measures to protect its employees, contractors, and customers.
The group places great emphasis on its companies meeting its responsibilities to all stakeholders in the business and promote sustainable solutions to lessen its impact on the environment.
The group has conducted significant research to provide a base of information to improve our carbon footprint and lessen our impact on the planet.
There is a continuing emphasis on sustainability and the company makes every effort to be conscious of its responsibilities for future generations.
The group is dependent on its staff and contractors for its success and encourages diversity and inclusion of employees, irrespective of race and gender.
The group places great emphasis on staff training which improves productivity and provides career progression by the development of transferable skills.
The director of the group considers that they have fulfilled their individual and collective duty under section 172(1) of the Companies Act 2006 to act in the way they consider, in good faith, would be most likely to promote the success of the group for the benefit of all stakeholders of the group including its shareholders, employees, customers and the wider community. By managing the business responsibly the director intends to support a financially stable and rewarding organisation which looks to deliver value for all stakeholders.
This report was approved by the board and signed on its behalf.
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HARVEY COMMERCIAL HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The director presents his report and the financial statements for the year ended 30 November 2025.
The profit for the year, after taxation and minority interests, amounted to £3,304,667 (2024: £2,362,331).
During the year dividends of £1,219,910 (2024: £1,239,900) were paid.
The director who served during the year was:
The Group intends to continue providing a premium service to fit out customers as they continue to increase their capital expenditure programmes in future years. In addition, the Group will continue to invest in the venues side of the business.
The group continues to engage with its suppliers, customers and others, such as employees, in a positive and ethical manner.
As the largest company within the Group the following figures related to Harvey Shopfitters Limited, the greenhouse gas emissions and energy consumption for the year are:
Fuel type, mileage and CO2 g/km have been used to estimate the owned transport data. Monthly electricity
meter readings have been used to estimate the purchased electricity data.
The company's current focus is on reducing Scope 1 and 2 emissions via electrification, demand reduction, and
clean energy integration. We prioritise decarbonisation over offsetting.
meter readings have been used to estimate the purchased electricity data.
The company's current focus is on reducing Scope 1 and 2 emissions via electrification, demand reduction, and
clean energy integration. We prioritise decarbonisation over offsetting.
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HARVEY COMMERCIAL HOLDINGS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
There have been no significant events affecting the group since the year end.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 489 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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HARVEY COMMERCIAL HOLDINGS LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The director is responsible for preparing the Group strategic report, the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group'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 Group will continue in business.
The director is 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 the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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HARVEY COMMERCIAL HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARVEY COMMERCIAL HOLDINGS LIMITED
We have audited the financial statements of Harvey Commercial Holdings Limited (the ' Company') and its subsidiaries (the 'Group') for the year ended 30 November 2025, which comprise the Consolidated statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity, the Consolidated Analysis of Net Debt 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).
In auditing the financial statements, we have concluded that the director's 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 Group's or 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 director with respect to going concern are described in the relevant sections of this report.
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HARVEY COMMERCIAL HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARVEY COMMERCIAL HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Strategic Report and Directors' Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Strategic Report and Directors' 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 Group strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Director's report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Director's report.
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HARVEY COMMERCIAL HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARVEY COMMERCIAL HOLDINGS LIMITED (CONTINUED)
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 Group 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 have considered the nature of the industry and the sector, control environment, and business performance;
∙We have considered the results of enquiries with management and the director in relation to their own identification and assessment of the risks of irregularities within the entity; and
∙We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating effectively, in line with documentation.
For any matters identified we have obtained and reviewed the Group and Company's documentation of their policies and procedures relating to:
∙Identifying, evaluating and complying with laws and regulations, including duty, and whether they were aware of any instances of non-compliance;
∙Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
∙The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
We have also considered the matters discussed, among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off.
In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the Group and Company's operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Group and Company's ability to operate or avoid a material penalty. These included health and safety regulations and employment law.
Our procedures to respond to risks identified included the following:
∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Enquiring of management in relation to actual and potential claims or litigation;
∙Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
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HARVEY COMMERCIAL HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARVEY COMMERCIAL HOLDINGS LIMITED (CONTINUED)
∙Performing detailed testing in relation to the recognition of revenue with a particular focus around the year-end cut-off; and
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in accounting estimates are indicate of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team
members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout
the audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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
Statutory Auditors
10 Temple Back
BS1 6FL
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HARVEY COMMERCIAL HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2025
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HARVEY COMMERCIAL HOLDINGS LIMITED
REGISTERED NUMBER:10199334
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 July 2026.
The notes on pages 17 to 41 form part of these financial statements.
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HARVEY COMMERCIAL HOLDINGS LIMITED
REGISTERED NUMBER:10199334
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 July 2026 .
The notes on pages 17 to 41 form part of these financial statements.
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