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Registration number: 04615596

Russell Ham Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Russell Ham Limited

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 9

Russell Ham Limited

(Registration number: 04615596)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 1 | 1
Tangible assets | 5 | 74,162 | 74,555
|  | 74,163 | 74,556
Current assets |  |  |
Stocks | 6 | 220,145 | 256,734
Debtors | 7 | 131,021 | 33,911
Cash at bank and in hand |  | 14,365 | 14,664
|  | 365,531 | 305,309
Creditors: Amounts falling due within one year | 8 | (241,900) | (221,251)
Net current assets |  | 123,631 | 84,058
Total assets less current liabilities |  | 197,794 | 158,614
Creditors: Amounts falling due after more than one year | 8 | (17,118) | (27,617)
Provisions for liabilities |  | (13,688) | (13,103)
Net assets |  | 166,988 | 117,894
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 166,888 | 117,794
Shareholders' funds |  | 166,988 | 117,894

Russell Ham Limited

(Registration number: 04615596)
Statement of Financial Position as at 31 December 2025 (continued)

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 5 August 2026 and signed on its behalf by:

N E Higginson Director

Russell Ham 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 & Wales.

The address of its registered office is:
Russell Ham Service Care
Britannia Garage
4 Wolseley Road
Plymouth
Devon
PL2 3BH

Principal activity

The principal activity of the company is is that of car sales, servicing and repairs.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Russell Ham Limited

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

2 | Accounting policies (continued)

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 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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 statement of financial position 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 over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Improvements to property | 10% Straight Line
Computer equipment | 25% Reducing Balance
Fixtures, fittings & equipment | 20% Reducing Balance
Motor Vehicles | 25% Reducing Balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Russell Ham Limited

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

2 | Accounting policies (continued)

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

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 statement of comprehensive income 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.

Russell Ham Limited

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

2 | Accounting policies (continued)

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 statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 10).

Russell Ham Limited

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

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 January 2025 | 50,000 | 50,000
At 31 December 2025 | 50,000 | 50,000
Amortisation
At 1 January 2025 | 49,999 | 49,999
At 31 December 2025 | 49,999 | 49,999
Carrying amount
At 31 December 2025 | 1 | 1
At 31 December 2024 | 1 | 1

5 | Tangible assets

| Improvements to property £ | Fixtures and fittings £ | Computer equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 24,982 | 125,895 | 11,731 | 68,355 | 230,963
Additions | - | 3,342 | 2,608 | 15,549 | 21,499
Disposals | - | - | - | (800) | (800)
At 31 December 2025 | 24,982 | 129,237 | 14,339 | 83,104 | 251,662
Depreciation
At 1 January 2025 | 16,090 | 96,696 | 9,498 | 34,124 | 156,408
Charge for the year | 1,417 | 6,508 | 1,210 | 12,420 | 21,555
Eliminated on disposal | - | - | - | (463) | (463)
At 31 December 2025 | 17,507 | 103,204 | 10,708 | 46,081 | 177,500
Carrying amount
At 31 December 2025 | 7,475 | 26,033 | 3,631 | 37,023 | 74,162
At 31 December 2024 | 8,892 | 29,199 | 2,233 | 34,231 | 74,555

Russell Ham Limited

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

6 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 220,145 | 256,734

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 116,198 | 16,247
Other debtors | 2,275 | 2,200
Prepayments | 12,548 | 15,464
| 131,021 | 33,911

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 92,685 | 96,160
Trade creditors |  | 55,766 | 53,962
Taxation and social security |  | 49,533 | 17,031
Accruals and deferred income |  | 14,720 | 13,728
Other creditors |  | 29,196 | 40,370
|  | 241,900 | 221,251

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £87,685 (2024- £86,160).

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 17,118 | 27,617

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £17,118 (2024 - £22,617).

Russell Ham Limited

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

9 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

10 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 5,000
Hire purchase contracts | 17,118 | 22,617
| 17,118 | 27,617

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 5,000 | 10,000
Bank overdrafts | 82,186 | 80,661
Hire purchase contracts | 5,499 | 5,499
| 92,685 | 96,160

11 | Related party transactions

Transactions with directors

2025 | At 1 January 2025 £ | Advances to director £ | Repayments by director £ | At 31 December 2025 £
Director | (40,371) | 36,175 | (25,000) | (29,196)

2024 | At 1 January 2024 £ | Advances to director £ | Repayments by director £ | At 31 December 2024 £
Director | (60,508) | 45,137 | (25,000) | (40,371)