REGISTERED NUMBER: 09503488 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

HARRISON MORGAN LIMITED

TRADING AS

HELM

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Morgan

P Harrison

R Haller

REGISTERED OFFICE:

10 London Mews

Paddington

LONDON

W2 1HY

REGISTERED NUMBER:

09503488 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

LONDON

W2 1HY

FIXED ASSETS

Intangible assets

4

540,134

283,107

Tangible assets

5

7,404

22,651

Investments

6

100

-

547,638

305,758

CURRENT ASSETS

Debtors

7

7,266,155

4,954,748

Cash at bank

540,015

462,333

7,806,170

5,417,081

CREDITORS

Amounts falling due within one year

8

8,087,381

5,589,568

NET CURRENT LIABILITIES

(281,211

)

(172,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

266,427

133,271

CREDITORS

Amounts falling due after more than one year

9

(21,842

)

(8,512

)

PROVISIONS FOR LIABILITIES

(404

)

-

NET ASSETS

244,181

124,759

CAPITAL AND RESERVES

Called up share capital

11

42,000

42,000

Share premium

588,000

588,000

Retained earnings

(385,819

)

(505,241

)

SHAREHOLDERS' FUNDS

244,181

124,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 17 August 2026 and were signed on its behalf by:

S Morgan - Director

P Harrison - Director

1.	STATUTORY INFORMATION

Harrison Morgan 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.

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 accounts have been prepared on the going concern basis. The directors consider that there are no material uncertainties regarding the company's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of approval of the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net commission receivable, excluding value added tax. Commission arises on the brokering of yacht charters and is recognised by reference to the stage of completion. For some contracts completion arises on payment of the deposit for the charter, for other contracts it is on a date of travel basis.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Fixtures and fittings

-

33.33% straight line

Website & Computer equipmt

-

33.33% straight line

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Taxation

Taxation for the year comprises prior year tax 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 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company contributes to a work place pension scheme. Contributions payable to the scheme are charged to the profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 December 2024

330,292

Additions

365,053

At 30 November 2025

695,345

AMORTISATION

At 1 December 2024

47,185

Charge for year

108,026

At 30 November 2025

155,211

NET BOOK VALUE

At 30 November 2025

540,134

At 30 November 2024

283,107

5.	TANGIBLE FIXED ASSETS

Fixtures

Website &

Short

and

Computer

leasehold

fittings

equipmt

Totals

£

£

£

£

COST

At 1 December 2024

7,283

9,435

208,275

224,993

Additions

-

-

2,181

2,181

At 30 November 2025

7,283

9,435

210,456

227,174

DEPRECIATION

At 1 December 2024

2,063

8,468

191,811

202,342

Charge for year

1,457

880

15,091

17,428

At 30 November 2025

3,520

9,348

206,902

219,770

NET BOOK VALUE

At 30 November 2025

3,763

87

3,554

7,404

At 30 November 2024

5,220

967

16,464

22,651

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 30 November 2025

100

NET BOOK VALUE

At 30 November 2025

100

7.

DEBTORS

30.11.25

30.11.24

£

£

Amounts falling due within one year:

Trade debtors

6,778,492

4,872,985

Amounts owed by group undertakings

408,696

-

Other debtors

57,125

81,763

7,244,313

4,954,748

Amounts falling due after more than one year:

Trade debtors

21,842

-

Aggregate amounts

7,266,155

4,954,748

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

5,293

14,673

Trade creditors

7,058,864

4,938,499

Social security and other taxes

28,808

25,038

VAT

27,900

-

Other creditors

226,822

2,947

Directors' current accounts

169,771

169,771

Deferred income

559,923

428,640

Accrued expenses

10,000

10,000

8,087,381

5,589,568

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans - 1-2 years

-

5,291

Trade creditors

21,842

-

Deferred income

-

3,221

21,842

8,512

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.11.25

30.11.24

£

£

Within one year

136,175

75,184

Between one and five years

119,153

6,265

255,328

81,449

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.25

30.11.24

value:

£

£

42,000

Ordinary

£1

42,000

42,000

All shares have the same income, capital and winding up rights.

12.	RELATED PARTY DISCLOSURES

During the year no movement arose on monies owed to the directors. As at 30th November 2025 this remains at £169,711, included within Other Creditors. The loans are repayable on demand and interest is charged.