WD Harley Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

WD Harley Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC368432 . The registered office is Ancaster Business Centre, Cross Street, Callander, FK17 8EA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and othersales taxes.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill, being the amount paid in connection with the aquisition of a business in 2015, is being amortised evenly over its estimated useful life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on reducing balance
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	25% on reducing balance
Computer Equipment	33% on reducing balance

2.5. Investment Properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

2.6. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

2.8. Financial Instruments

The company only has basic financial instruments.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

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WD Harley Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.9. Taxation

Taxation for the year comprises current 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 or deferred 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.

2.10. Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 7)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 December 2024	41,365

As at 30 November 2025	41,365

Amortisation
As at 1 December 2024	36,194
Provided during the period	4,137

As at 30 November 2025	40,331

Net Book Value
As at 30 November 2025	1,034

As at 1 December 2024	5,171

5. Tangible Assets

	Investment Properties	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 December 2024	1,077,897	95,282	72,694	5,471
Additions	72,682	70,349	12,495	2,756

As at 30 November 2025	1,150,579	165,631	85,189	8,227

...CONTINUED

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WD Harley Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

Depreciation
As at 1 December 2024	-	51,287	50,467	4,959
Provided during the period	-	17,989	11,291	236

As at 30 November 2025	-	69,276	61,758	5,195

Net Book Value
As at 30 November 2025	1,150,579	96,355	23,431	3,032

As at 1 December 2024	1,077,897	43,995	22,227	512

	Computer Equipment	Total
	£	£
Cost
As at 1 December 2024	22,683	1,274,027
Additions	7,460	165,742

As at 30 November 2025	30,143	1,439,769

Depreciation
As at 1 December 2024	19,080	125,793
Provided during the period	2,245	31,761

As at 30 November 2025	21,325	157,554

Net Book Value
As at 30 November 2025	8,818	1,282,215

As at 1 December 2024	3,603	1,148,234

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Plant & Machinery	35,005	3,543
Motor Vehicles	9,892	5,061

	44,897	8,604

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WD Harley Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

Cost or valuation as at 30 November 2025 represented by:

	Investment Properties	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
At cost	-	165,631	85,189	8,227
At valuation	1,150,579	-	-	-

	1,150,579	165,631	85,189	8,227

	Computer Equipment	Total
	£	£
At cost	30,143	289,190
At valuation	-	1,150,579

	30,143	1,439,769

Included in fair value of investment property is freehold land of £186,317 (2024 - £186,317) which is not depreciated.

Investment property consists of land, a developed property and ongoing developments at Balvalachlan farm.

The developed property and ongoing developments were valued on an open market basis on 30 November 2025 by the directors at £1,150,579.

The historical cost of investment property at 30 November 2025 was £1,046,568 (2024: £941,404).

The directors are of opinion that the cost of land, the interim valuation and subsequent works included at cost reflect the fair value of the investment property as a whole.

6. Stocks

	2025	2024
	£	£
Work in progress	28,735	27,000

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	218,100	246,483
Other debtors	-	174
Intercompany loans	116,833	72,618

	334,933	319,275

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WD Harley Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	8,021	5,364
Trade creditors	53,412	63,835
Bank loans and overdrafts	109,757	68,002
Corporation tax	158,035	114,320
Other taxes and social security	5,350	13,975
VAT	126,006	97,709
Other creditors	3,730	2,127
Accruals and deferred income	4,513	2,304
Intercompany loan	1,521	11,816

	470,345	379,452

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	33,547	-
Bank loans - 1-2 years	101,758	60,055
Other creditors	11,341	10,022
Bank loans - 2-5 years	335,326	161,920
Bank loans > 5 years	177,425	225,735
Other loans - 1-2 years	59,386	63,718
Directors loan account	92,365	91,294

	811,148	612,744

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	177,425		225,735

10. Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

The Bank of Scotland Plc hold the property and part of the land at Balvalachlan Farm along with a floating charge over all the property and undertaking of the company.

Amounts due on hire purchase contracts and finance leases are secured over their corresponding assets.

	2025		2024
	£		£
Bank loans and overdrafts	530,907		415,865

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WD Harley Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

11. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	8,021	5,364
Later than one year and not later than five years	33,547	-

	41,568	5,364

	41,568	5,364

12. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 December 2024	47,339	47,339
Additions	9,976	9,976

Balance at 30 November 2025	57,315	57,315

Deferred tax consists of capital allowances in advance of depreciation and changes in fair value of investment properties.

13. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
200 Ordinary Shares of £ 1.000 each	200	200
10 Ordinary B shares of £ 1.000 each	10	10

	210	210

14. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

Office premises are leased on a rolling basis and reviewed annually.

	2025	2024
	£	£
Not later than one year	3,960	3,960

	3,960	3,960

15. Related Party Transactions

WD Harley Ltd, WD Harley Property Ltd and WD Harley Leisure Ltd are associated through virtue of common control.

At 30th November 2025 the amount due from W D Harley Property Ltd was £7,333 (2024: -£3,117). This balance is non-interest bearing and is repayable on demand.

At 30th November 2025 the amount owed to WD Harley Leisure Ltd was £121 (2024: £7,299). This balance is

non-interest bearing and is repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,034		5,171
Tangible Assets	5		1,282,215		1,148,234

			1,283,249		1,153,405
CURRENT ASSETS
Stocks	6	28,735		27,000
Debtors	7	334,933		319,275
Cash at bank and in hand		220,057		31,408

		583,725		377,683
Creditors: Amounts Falling Due Within One Year	8	(470,345 )		(379,452 )

NET CURRENT ASSETS (LIABILITIES)			113,380		(1,769 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,396,629		1,151,636

Creditors: Amounts Falling Due After More Than One Year	9		(811,148 )		(612,744 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(57,315 )		(47,339 )

NET ASSETS			528,166		491,553

CAPITAL AND RESERVES
Called up share capital	13		210		210
Profit and Loss Account			527,956		491,343

SHAREHOLDERS' FUNDS			528,166		491,553