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Registration number: 01587197

Harris Cars Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Harris Cars Limited

Contents

Company Information | 1
Directors' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 10

Harris Cars Limited

Company Information

Directors | Ms Vanessa Jayne Harris Mr Peter Michael Harris

Company secretary | Ms Vanessa Jayne Harris

Registered office | Blacknest park Whitmore Lane Sunningdale Berkshire SL5 0PX

Accountants | M Ball & Co Limited The Hemington Millhouse Business Centre Station Road Castle Donington Derby DE74 2NJ

Harris Cars Limited

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.

Directors of the company

The directors who held office during the year were as follows:

Ms Vanessa Jayne Harris - Company secretary and director

Mr Peter Michael Harris

Principal activity

The principal activity of the company is Sale of used cars and light motor vehicles

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:

......................................... Mr Peter Michael Harris Director

Harris Cars Limited

(Registration number: 01587197)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 66,191 | 69,386
Current assets |  |  |
Stocks | 6 | 1,645,000 | 1,400,000
Debtors | 7 | 4,508,142 | 4,415,816
Cash at bank and in hand |  | 64,796 | 87,690
|  | 6,217,938 | 5,903,506
Creditors: Amounts falling due within one year | 8 | (3,007,489) | (2,679,760)
Net current assets |  | 3,210,449 | 3,223,746
Total assets less current liabilities |  | 3,276,640 | 3,293,132
Creditors: Amounts falling due after more than one year | 8 | (41,101) | (38,263)
Net assets |  | 3,235,539 | 3,254,869
Capital and reserves |  |  |
Called up share capital |  | 100,000 | 100,000
Share premium reserve |  | 495,417 | 495,417
Revaluation reserve |  | 103,813 | 103,813
Retained earnings |  | 2,536,309 | 2,555,639
Shareholders' funds |  | 3,235,539 | 3,254,869

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

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:

Harris Cars Limited

(Registration number: 01587197)
Balance Sheet as at 31 December 2025

......................................... Mr Peter Michael Harris Director

Harris Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
Blacknest park
Whitmore Lane
Sunningdale
Berkshire
SL5 0PX

These financial statements were authorised for issue by the Board on 19 August 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Harris Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant & Machinery | 10% on Cost
Motor Vehicle | 25% & 50% SLM
Fixtures, Fittings & Equipment | 10% & 33.33% on SLM

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Investments

Investments in equity shares which are publicly traded or where the fair value can be meaured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Harris Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Harris Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 January 2025 | 459,724 | 459,724
At 31 December 2025 | 459,724 | 459,724
Amortisation
At 1 January 2025 | 459,724 | 459,724
At 31 December 2025 | 459,724 | 459,724
Carrying amount
At 31 December 2025 | - | -

Harris Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 60,036 | 42,607 | 18,020 | 243,573 | 364,236
At 31 December 2025 | 60,036 | 42,607 | 18,020 | 243,573 | 364,236
Depreciation
At 1 January 2025 | - | 33,257 | 18,020 | 243,573 | 294,850
Charge for the year | - | 3,195 | - | - | 3,195
At 31 December 2025 | - | 36,452 | 18,020 | 243,573 | 298,045
Carrying amount
At 31 December 2025 | 60,036 | 6,155 | - | - | 66,191
At 31 December 2024 | 60,036 | 9,350 | - | - | 69,386

Included within the net book value of land and buildings above is £60,036 (2024 - £60,036) in respect of freehold land and buildings.

6 | Stocks

| 2025 £ | 2024 £
Work in progress | 492,346 | 247,346
Finished goods and goods for resale | 192,779 | 192,779
Other inventories | 959,875 | 959,875
| 1,645,000 | 1,400,000

7 | Debtors

Current |  | 2025 £ | 2024 £
Trade debtors |  | 38,600 | 38,600
Amounts owed by related parties |  | 3,857,724 | 3,773,266
Other debtors |  | 611,818 | 603,950
|  | 4,508,142 | 4,415,816

Harris Cars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 14,294 | 13,078
Trade creditors |  | 117,377 | 76,866
Amounts owed to group undertakings and undertakings in which the company has a participating interest |  | 786,947 | 786,947
Accruals and deferred income |  | 2,000 | 2,000
Other creditors |  | 2,086,871 | 1,800,869
|  | 3,007,489 | 2,679,760

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 41,101 | 38,263

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 41,101 | 38,263

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 14,294 | 13,078