Company registration number 01612288 (England and Wales)
HAREWOOD HILL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
HAREWOOD HILL LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
HAREWOOD HILL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
212,618
210,529
Investment property
4
725,000
725,000
937,618
935,529
Current assets
Trade and other receivables
5
8,312
16,986
Cash and cash equivalents
81,396
62,426
89,708
79,412
Current liabilities
6
(12,081)
(7,311)
Net current assets
77,627
72,101
Total assets less current liabilities
1,015,245
1,007,630
Provisions for liabilities
(188,370)
(187,673)
Net assets
826,875
819,957
Equity
Called up share capital
100,000
100,000
Retained earnings
726,875
719,957
Total equity
826,875
819,957

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 June 2026 and are signed on its behalf by:
Mr T D F Thomson
Director
Company registration number 01612288 (England and Wales)
HAREWOOD HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Harewood Hill Limited is a private company limited by shares incorporated in England and Wales. The registered office is 23 Victoria Avenue, Harrogate, HG1 5RD.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover represents the income receivable from the provision of motorsport facilities and other properties, excluding value added tax.

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.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
150 years straight line
Plant and equipment
10 years straight line
Fixtures and fittings
10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

HAREWOOD HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

HAREWOOD HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees
2025
2024
Number
Number
Total
4
4
3
Property, plant and equipment
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2025
176,338
74,762
27,921
279,021
Additions
7,540
-
0
8,000
15,540
At 31 December 2025
183,878
74,762
35,921
294,561
Depreciation and impairment
At 1 January 2025
9,000
53,094
6,398
68,492
Depreciation charged in the year
4,563
5,896
2,992
13,451
At 31 December 2025
13,563
58,990
9,390
81,943
HAREWOOD HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Property, plant and equipment
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
(Continued)
- 5 -
Carrying amount
At 31 December 2025
170,315
15,772
26,531
212,618
At 31 December 2024
167,338
21,668
21,523
210,529
4
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
725,000

Investment property comprises farm house at Harewood Hill valued at £725,000. The valuation of the investment property has been arrived at based on an independent valuation carried out by Giles Chaplin BSc (Hons) MRICS RICS Registered valuer and Charlie Cowan BSc (Hons) MRICS at Lister Haigh. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties and the rental yield of the properties.

5
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
6,657
13,790
Other receivables
1,655
3,196
8,312
16,986
6
Current liabilities
2025
2024
£
£
Corporation tax
4,066
1,552
Other taxation and social security
6
-
0
Other payables
8,009
5,759
12,081
7,311
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

HAREWOOD HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
7
Audit report information
(Continued)
- 6 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Robert MacDonald
Statutory Auditor:
Moore (South) LLP
Date of audit report:
30 June 2026
8
Operating lease commitments
As lessor - operating leases

At the reporting date the company had contracted with tenants for the following minimum lease payments:

2025
2024
Future amounts receivable under operating leases:
£
£
81,250
53,833
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
2025
2024
£
£
BARC Limited
20,083
19,000

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
BARC Limited
6,500
5,700
10
Parent company
HAREWOOD HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10
Parent company
(Continued)
- 7 -

The company is a subsidiary of British Automobile Racing Club Limited, a company limited by guarantee and registered in England and Wales, is not under the control of any individuals or group of individuals but is managed by an elected board of council members. The registered address of the ultimate parent undertaking is Thruxton Circuit, Thruxton, Andover, SP11 8PN. British Automobile Racing Club Limited owns 60% of the company's share capital.

The financial statements of the company are included within the consolidated financial statements of the British Automobile Racing Club Limited, which is the largest and smallest group of undertakings for which consolidated financial statements are drawn up.

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