Registration number:
Holcombe's Of Taunton Limited
for the Year Ended 31 December 2025
Holcombe's Of Taunton Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Holcombe's Of Taunton Limited
Company Information
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Director |
MC Holcombe |
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Registered office |
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Auditors |
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Holcombe's Of Taunton Limited
Strategic Report for the Year Ended 31 December 2025
The director presents his strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the group is that of sales and servicing of motor vehicles together with a wholesale trade parts division.
Fair review of the business
The motor retail marketplace remains a competitive sector and the director is pleased with the trading performance of the group which is in line with expectation, with an increase in turnover and profit following the introduction of new franchises of MG and Chery and new models launched by Omoda & Jaecoo.
More pleasing to the director is the fact that cash reserves of the group have increased since last year, despite the ongoing investment in the sites to maintain the high standards, investment in the sites through solar installations at Wellington Nissan and Wellington Omoda & Jaecoo, the building of showrooms for both MG in Wellintton and Chery in Exeter, and the further repayment of group debt which is an achieved goal of the director since the management buy out.
The company continues to concentrates on a strategic presence within Somerset and Devon, and at the year end had the following sites:
• Exeter Nissan, Marsh Barton, Exeter, Devon
• Wellington Nissan, Taunton Vale, Somerset
• Barnstaple Nissan, Barnstaple, Devon
• Sidmouth Nissan, Sidmouth, Devon
• Wellington Omoda and Jaecoo, Wellington, Somerset
• Barnstaple Omoda and Jaecoo, Barnstaple, Devon
• Exeter Chery, Marsh Barton, Exeter, Devon
• Wellington MG, Wellington, Somerset
• Exeter Direct, Marsh Barton, Exeter, Devon
• Wellington Direct, Wellington, Somerset
• Taunton Direct, Taunton, Somerset
With the director having a clear direction of scaled growth, some of which was achieved during the year, the recuritment of key staff members to further support the existing team was also seen as a key objective of the director and during the year the company recruited an experienced Financial Controller with experience within the motor retail industry.
The group's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£ |
71,885,098 |
66,443,205 |
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Gross profit |
£ |
8,509,988 |
8,039,692 |
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Profit before tax |
£ |
1,553,494 |
889,958 |
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Net assets |
£ |
2,686,975 |
1,624,826 |
Holcombe's Of Taunton Limited
Strategic Report for the Year Ended 31 December 2025
Principal risks and uncertainties
The director is confident that a thorough risk management process is in place which involves formal reviews on an ongoing basis.
The principal risks and uncertainties which could have a material impact on the company's performance are:
• The company mitigates the risk of high stocking charges through ensuring it only carries stock of a suitable profile and operates both an aged stock and retail pricing policy. This is controlled internally on a monthly basis with all departmental managers submitting a detail report and price adjustment report to the director covering all stock.
• The need to act fairly between members of the company.The director believes the current model mix is ideal for the demographic in the South West region with its vehicle order book remaining at a decent level and this creates fantastic part exchanges for the Used Direct sites.
The company benefits from a close relationship with many of its clients so constant and transparent client feedback remains key to everything the WMG team do and is the central pillar to all future planning relating to the retail and service marketplace.
Analysis of the inflationary pressures within the sector take place together with a programme of counter measures being assessed on an ongoing basis. The director strongly believes however that it is their responsibility to ensure all team members concentrate on areas of the business they can positively influence rather than spend too much time concerning themselves with macroeconomics.
Section 172(1) statement
The director aims to act in a way that promotes the long-term success of the business for the benefit of all its stakeholders. Section 172 matters are considered in our strategy development and significant decisions across all aspects of our business.
Section 172 requires the director to have regard to:
• The likely consequences of any decision in the long term
• The interests of the company's employees
• The need to foster the company's business relationships with suppliers, customers and others
• The impact of the company's operations on the community and the environment
• The desirability of the company maintaining a reputation for high standards of business conduct, and
• The need to act fairly between members of the company.
The director is aware of his responsibilities to ensure that the company acts fairly in all its dealings and communications with key stakeholder groups and considers the impact of the company’s operations on the wider community and the environment. The director considers a range of factors in making decisions on the success of the company and its holdings in the group, including the section 172 duties above, the company’s activities and, where appropriate, the subsidiaries' business.
Engagement with suppliers, customers and other relationships
We aim to build long-term relationships with our suppliers, which includes the key suppliers of the branded vehicles, to help ensure availability of vehicles through a stable supply chain.
We continue to focus on a high-quality customer experience delivering a quality experience and relationship with all who interact in any way with the Wellington Motor Group,
Holcombe's Of Taunton Limited
Strategic Report for the Year Ended 31 December 2025
Non-financial and sustainability information
Energy and carbon report
This section includes our mandatory reporting of energy and greenhouse gas emissions for the period 1 January 2025 to 31 December 2025, pursuant to the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, implementing the government’s Streamlined Energy and Carbon Reporting (SECR) policy.
Emissions and energy consumption
Our methodology to calculate our greenhouse gas emissions is based on the 'Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019)’, using DESNZ's 2025 conversion factors. In some cases, consumption has been extrapolated from available data or direct comparison made to a comparable period.
Summary of scope 1 (direct) greenhouse gas emissions for the year ended 31 December 2025:
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Name and description |
Unit of measurement |
2025 |
2024 |
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Gas combustion |
Metric tonnes CO2 equivalent |
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Fuel consumed for owned transport |
Metric tonnes CO2 equivalent |
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Summary of scope 2 (indirect) greenhouse gas emissions for the year ended 31 December 2025:
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Name and description |
Unit of measurement |
2025 |
2024 |
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Purchased electricity |
Metric tonnes CO2 equivalent |
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Vehicle electricity |
Metric tonnes CO2 equivalent |
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Summary of scope 3 (other indirect) greenhouse gas emissions for the year ended 31 December 2025:
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Name and description |
Unit of measurement |
2025 |
2024 |
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Fuel consumed for vehicles not owned by the group |
Metric tonnes CO2 equivalent |
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Summary of energy consumption for the year ended 31 December 2025:
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Name and description |
Unit of measurement |
2025 |
2024 |
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Aggregrate of energy consumption in the year |
kWh |
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Holcombe's Of Taunton Limited
Strategic Report for the Year Ended 31 December 2025
Intensity ratio
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Turnover (tCo2e/£m)
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Energy effeciency action
During the reporting period we have invested £14k towards a new PV installation.
Approved and authorised by the
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Holcombe's Of Taunton Limited
Director's Report for the Year Ended 31 December 2025
The director presents his report and the for the year ended 31 December 2025.
Director of the group
The director who held office during the year was as follows:
Dividends
The director recommends a final dividend payment of £Nil be made in respect of the financial year ended 31 December 2025 (2024 - £Nil).
Financial instruments
The company has procedures to identify risk and manage the risks that may hinder its financial performance objectives. The objective is to limit counterparty exposure, ensure sufficient weekly capital and to mitigate the risk identified. The company does not consider it necessary to employ derivatives to manage risk, based upon the current activities of the company.
Objectives and policies
The objectives of the company are to grow the business organically whilst remaining true to the core beliefs of service and price.
The company is exposed to price risk, credit risk, liquidity risk and cash flow risk. The directors review risk management strategies regularly.
Price risk, credit risk, liquidity risk and cash flow risk
Price
The company has minimal exposure to price risk as all prices are pre-set by management.
Credit
The company is exposed to credit risk and management ensure that credit checks are completed on all new customers and chase debts on a regular basis once they become overdue.
Liquidity
The company's exposure to liquidity risk is minimal as the group has adequate net current assets.
Cash flow
The company is exposed to cash flow risk as a result of the timing between paying suppliers and the receipt of money from customers. Management manage this through the use of an invoice discounting facility.
Holcombe's Of Taunton Limited
Director's Report for the Year Ended 31 December 2025
Future developments
Management's aim is to continue to grow the business whilst maintaining the group's strong position in the market, which includes considering further opportunities which become available within Devon and Somerset.
Further development plans for 2026 in the market areas of Taunton & Exeter remain crucial and planning permission has been granted for further development on the Alphington site for a Lepas showroom, and there are also plans for a 12-bay workshop for the Chery brands.
The continued development of staff is considered a key ongoing objective of management, with the development of a young operational team for the future considered important for the longterm business sucession planning.
Disclosure of information to the auditor
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditor is unaware.
Disclosure in the Strategic Report
The fair review of the business, the principal risks and uncertainties, and the key financial and other performance indicators are not included in the Director's Report as they are covered in the Strategic Report as required under s414C of the Companies Act 2006.
Reappointment of auditors
The auditors ML Audit LLP are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved by the
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Holcombe's Of Taunton Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Holcombe's Of Taunton Limited
Independent Auditor's Report to the Members of Holcombe's Of Taunton Limited
Opinion
We have audited the financial statements of Holcombe's Of Taunton Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's 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. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Holcombe's Of Taunton Limited
Independent Auditor's Report to the Members of Holcombe's Of Taunton Limited
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities set out on page 8, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the group’s and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:
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obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework; |
Holcombe's Of Taunton Limited
Independent Auditor's Report to the Members of Holcombe's Of Taunton Limited
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inquired of management, and those charged with governance, about their own identification and assessment of the risks or irregularities, including known and actual, suspected or alleged instances of fraud; |
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discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. |
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undertaken a review of manual journals processed in the accounting system, applying professional scepticism to ensure they are in line with our expectation that they are not unusual in the normal course of business. |
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
Holcombe's Of Taunton Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
|
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Cost of sales |
( |
( |
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Gross profit |
|
|
|
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Administrative expenses |
( |
( |
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Other operating income |
|
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Operating profit |
|
|
|
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Other interest receivable and similar income |
|
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Interest payable and similar expenses |
( |
( |
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(401,434) |
(524,670) |
||
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Profit before tax |
|
|
|
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Tax on profit |
( |
( |
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Profit for the financial year |
|
|
|
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Profit attributable to: |
|||
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Owner of the company |
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The above results were derived from continuing operations.
The group has no recognised gains or losses for the year other than the results above. Accordingly, a Consolidated Statement of Comprehensive Income is not presented.
Holcombe's Of Taunton Limited
(Registration number: 12310945)
Consolidated Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Intangible assets |
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Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
|
|
||
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Current assets |
|||
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Stocks |
|
|
|
|
Debtors |
|
|
|
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Cash at bank and in hand |
|
|
|
|
|
|
||
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Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
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Called up share capital |
|
|
|
|
Profit and loss account |
|
|
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Equity attributable to owner of the company |
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Total equity |
|
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Approved and authorised by the
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Holcombe's Of Taunton Limited
(Registration number: 12310945)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Tangible assets |
|
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Investments |
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|
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||
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Current assets |
|||
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Debtors |
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Cash at bank and in hand |
|
|
|
|
|
|
||
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Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
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Called up share capital |
|
|
|
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Profit and loss account |
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Total equity |
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The company made a profit after tax for the financial year of £412,771 (2024 - profit of £322,536).
Approved and authorised by the
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Holcombe's Of Taunton Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company
|
Share capital |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
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Profit for the year |
- |
|
|
|
Transfers |
- |
( |
( |
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Total comprehensive income |
- |
|
|
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At 31 December 2024 |
120 |
1,624,706 |
1,624,826 |
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Share capital |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
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Profit for the year |
- |
|
|
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At 31 December 2025 |
|
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Holcombe's Of Taunton Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
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Profit for the year |
- |
|
|
|
At 31 December 2024 |
120 |
1,851,234 |
1,851,354 |
|
Share capital |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 December 2025 |
|
|
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Holcombe's Of Taunton Limited
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
|
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Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
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Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
(Profit)/loss on disposal of tangible assets |
( |
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Increase in stocks |
( |
( |
|
|
(Increase)/decrease in trade debtors |
( |
|
|
|
Increase in trade creditors |
|
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
- |
|
|
Acquisition of intangible assets |
- |
( |
|
|
Acquisition of investment properties |
- |
( |
|
|
Advances of loans |
- |
( |
|
|
Proceeds from disposal of financial investments other than trading investments |
- |
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
( |
( |
|
|
Repayment of other borrowing |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
1,010,803 |
671,035 |
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.
Summary of disclosure exemptions
The company is a qualifying entity for the purposes of FRS 102 and has elected to take the exemption under FRS 102 para 1.12(b) not to present the Company Statement of Cash Flows.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2025.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The financial statements have been prepared on a going concern basis. As at the date of signing the financial statements, the director confirms that the company is in a position to meet its liabilities for a period of 12 months and that there are no foreseeable events which may give rise to liabilities which exceeds the company’s ability to pay.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Changes in accounting estimate
Economic life of goodwill
During the year management reassessed the economic life of goodwill and extended it by a further five years. As a result of this change in estimation the brought forward net book value of goodwill is being amortised over the remaining 9 year period.
The effect of the change on assets, liabilities, income and expense in the current year is as follows:
£ | |
Goodwill | 297,858 |
Amortisation | (297,858) |
Key sources of estimation uncertainty
In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.
The estimate for provision of stock is considered to have a significant risk of causing a material adjustment to the carrying amount of stock valuation of the group. The carrying amount is £11,067,481 (2024 - £11,045,301).
The estimated period to amortise the goodwill is considered to have a signficiant risk of causing a material adjustment to the carrying value of goodwill. The carrying amount is £1,953,921 (2024 - £2,198,578).
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the group’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The group recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the group; and
e) specific criteria have been met for each of the group's activities.
The group recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the group;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.
Finance income and costs policy
Interest income and expenses are recognised using the effective interest rate method.
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 group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated 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.
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.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’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 |
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 |
|
Freehold land and buildings |
Land nil, buildings over 6-50 years |
|
Properties under construction |
Nil |
|
Fixtures and fittings |
15% reducing balance |
|
Computers |
35% reducing balance |
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured 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 where 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.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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 stocks 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.
The group holds consignment stock vehicles which are regarded as being effectively under the control of the company and are included within stock in the balance sheet as the company has the significant risks and rewards of ownership even though the legal title has not yet passed. Legal title does not pass to the company until the earlier of the company holding the vehicles for a specified period, adopting the vehicle by using it as a demonstrator vehicle, or selling the vehicle to a third party. The corresponding liability is included in creditors.
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 group will not be able to collect all amounts due according to the original terms of the receivables.
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.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the group 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 group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.
|
Turnover |
The analysis of the group's turnover for the year from UK continuing operations is as follows:
|
2025 |
2024 |
|
|
Sales of vehicles and parts |
|
|
|
Rendering of services |
|
|
|
Commissions received |
|
|
|
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Miscellaneous other operating income |
|
|
|
Other gains and losses |
The analysis of the group's other gains and losses for the year is as follows:
|
2025 |
2024 |
|
|
Profit/(loss) on disposal of tangible fixed assets |
|
( |
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Operating profit |
Arrived at after charging/(crediting):
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense - property |
|
|
|
(Profit)/loss on disposal of tangible fixed assets |
( |
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
- |
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on other finance liabilities |
|
|
|
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Servicing and parts |
|
|
|
Administration and support |
|
|
|
Sales, marketing and distribution |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
101,800 |
107,890 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
5,500 |
4,725 |
|
Audit of the financial statements of subsidiaries of the company pursuant to legislation |
45,845 |
30,825 |
|
|
|
|
|
Other fees to auditors |
||
|
Taxation compliance services |
|
|
|
Taxation |
Tax charged/(credited) in the income statement:
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
( |
|
460,037 |
409,869 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
Decrease in UK tax from adjustment for prior periods |
( |
( |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax decrease from other short-term timing differences |
( |
- |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Corporation tax expense not recognised |
|
- |
|
Deferred tax expense not recognised |
|
- |
|
Increase in deferred tax expense from adjustment for prior periods |
|
- |
|
Tax decrease from other tax effects |
- |
( |
|
Total tax charge |
|
|
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Difference between accumulated depreciation and capital allowances |
- |
|
|
Short term timing differences |
- |
( |
|
Long term timing differences |
|
- |
|
|
|
|
2024 |
Asset |
Liability |
|
Difference between accumulated depreciation and capital allowances |
- |
|
|
Short term timing differences |
- |
( |
|
Long term timing differences |
|
- |
|
|
|
The deferred tax position is not expected to reverse significantly in the next twelve months, although this is subject to estimation uncertainty.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Difference between accumulated depreciation and capital allowances |
- |
|
|
Longterm timing differences |
|
- |
|
|
|
|
2024 |
Asset |
Liability |
|
Difference between accumulated depreciation and capital allowances |
- |
|
|
Longterm timing differences |
|
- |
|
|
|
The deferred tax position is not expected to reverse significantly in the next twelve months, although this is subject to estimation uncertainty.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Intangible assets |
Group
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Amortisation |
||
|
At 1 January 2025 |
|
|
|
Amortisation charge |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
The amortisation of intangible assets is recognised in administrative expenses in the profit and loss account.
Individually material intangible assets
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
Group
|
Freehold land and buildings |
Properties under construction |
Fixtures and fittings |
Computers |
Total |
|
|
Cost |
|||||
|
At 1 January 2025 |
|
- |
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
( |
- |
- |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
- |
|
|
|
|
Charge for the year |
|
- |
|
|
|
|
Eliminated on disposal |
( |
- |
- |
- |
( |
|
At 31 December 2025 |
|
- |
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
- |
|
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
|
Freehold land and buildings |
Properties under construction |
Fixtures and fittings |
Total |
|
|
Cost |
||||
|
At 1 January 2025 |
|
- |
|
|
|
Additions |
|
|
- |
|
|
At 31 December 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2025 |
|
- |
|
|
|
Charge for the year |
|
- |
|
|
|
At 31 December 2025 |
|
- |
|
|
|
Carrying amount |
||||
|
At 31 December 2025 |
|
|
|
|
|
At 31 December 2024 |
|
- |
|
|
|
Investment properties |
Group
|
2025 |
|
|
Fair value
|
|
|
At 31 December 2025 |
|
The fair value of the investment property has been arrived at on the basis of the purchase price paid in 2022.
The director believes that the value held in the financial statements reflects the fair value of the investment property.
There has been no valuation of the investment property by an independent valuer.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost |
|
|
At 1 January 2025 and 31 December 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Taunton Vale House, Summerfield Way, Chelston Business Park, Wellington, Somerset, TA21 9JE England |
|
|
|
|
|
Taunton Vale House, Summerfield Way, Chelston Business Park, Wellington, Somerset, TA21 9JE England |
|
|
|
|
Subsidiary undertakings |
|
WMG Property Limited The principal activity of WMG Property Limited is |
|
Wellington Motors Limited The principal activity of Wellington Motors Limited is |
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
For the year ended 31 December 2025, the subsidiary WMG Property Limited was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Parts stock |
|
|
- |
- |
|
Work in progress |
|
|
- |
- |
|
Vehicle stock |
|
|
- |
- |
|
|
|
- |
- |
|
Group
Impairment of stocks
The amount of impairment loss included in profit or loss is £470 (2024 - £79,936).
The carrying amount of stocks pledged as security for liabilities amounted to £
|
Debtors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
|
|
|
|
Amounts owed by related parties |
|
- |
- |
- |
|
|
Other debtors |
|
|
- |
- |
|
|
Prepayments |
|
|
|
|
|
|
Deferred tax asset |
|
|
|
|
|
|
|
|
|
|
||
|
Less non-current portion |
( |
( |
( |
( |
|
|
|
|
|
|
||
Details of non-current trade and other debtors
Group
£134,000 (2024 - £76,114) of deferred tax assets is classified as non-current.
Company
£134,000 (2024 - £76,114) of deferred tax assets is classified as non-current.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash on hand |
|
|
- |
- |
|
Cash at bank |
|
|
|
|
|
|
|
|
|
|
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
|
- |
|
|
Consignment stock creditor |
8,202,391 |
4,453,428 |
- |
- |
|
|
Stocking loans |
3,114,948 |
4,553,007 |
- |
- |
|
|
Amounts due to related parties |
|
- |
|
|
|
|
Social security and other taxes |
|
|
|
|
|
|
Outstanding defined contribution pension costs |
|
- |
- |
- |
|
|
Other creditors |
|
|
|
|
|
|
Accruals |
|
|
|
|
|
|
Corporation tax liability |
249,755 |
159,494 |
76,374 |
69,963 |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Other financial liabilities |
|
|
|
|
|
|
|
|
|
|
||
Stocking loans are secured on the vehicle stock of the group to which they relate. The loan bears interest at 2.35% per annum above the Bank of England base rate.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Additional provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
Company
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Additional provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Authorised, allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
120 |
|
120 |
Rights, preferences and restrictions
|
Ordinary shares have the following rights, preferences and restrictions: |
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Reserves |
Group
Profit and loss account
This reserve includes all current and prior year retained profits and losses.
Company
Profit and loss account
This reserve includes all current and prior year retained profits and losses.
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Other borrowings |
|
|
|
|
|
|
|
|
|
|
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Other borrowings |
|
|
|
|
|
|
|
|
|
|
Group
Bank borrowings
|
The loan has a first charge and is secured on all assets of the company in the form of a debenture, and a £250,000 limited guarantee by M C Holcombe. |
Other borrowings
1. Loan due to a supplier is denominated in GBP with a nominal interest rate of 0%. The carrying amount at year end is £133,333 (2024 - £233,333).
The loan is repayable over a period of 3 years and the group has to purchase certain quantities of products from the supplier to avoid charges.
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
2. Other loan is denominated in GBP with a nominal interest rate of 5%. The carrying amount at year end is £3,648,133 (2024 - £4,919,733).
The loan is secured on all assets of the company in the form of a debenture.
Company
Bank borrowings
|
The loan has a first charge and is secured on all assets of the company, excluding stocks pledged as security against the consignment stock creditor and stock relating to stocking loans, in the form of a debenture, and a £250,000 limited guarantee by M C Holcombe. |
Other borrowings
Other loan is denominated in GBP with a nominal interest rate of 5%. The carrying amount at year end is £3,514,800 (2024 - £4,686,400).
The loan is secured on all assets of the company, excluding stocks pledged as security against the consignment stock creditor and stock relating to stocking loans, in the form of a debenture.
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Analysis of changes in net debt |
Group
|
At 1 January 2025 |
Financing cash flows |
At 31 December 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash |
671,035 |
339,768 |
1,010,803 |
|
Borrowings |
|||
|
Long term borrowings |
(6,334,533) |
1,607,400 |
(4,727,133) |
|
Short term borrowings |
(1,607,400) |
- |
(1,607,400) |
|
(7,941,933) |
1,607,400 |
(6,334,533) |
|
|
|
|||
|
( |
|
( |
|
|
Related party transactions |
Group
Key management personnel
During the year, an interest free loan repayable upon demand, was provided to key management personnel.
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Transactions with the director |
|
2025 |
At 1 January 2025 |
Advances to director |
At 31 December 2025 |
|
MC Holcombe |
|||
|
Interest free loan repayable on demand |
|
|
|
|
2024 |
At 1 January 2024 |
Advances to director |
At 31 December 2024 |
|
MC Holcombe |
|||
|
Interest free loan repayable on demand |
- |
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Summary of transactions with subsidiaries
Summary of transactions with other related parties
|
|
Income and receivables from related parties
|
2025 |
Other related parties |
|
Receipt of services |
|
|
Provision for doubtful debts |
31,959 |
|
|
|
|
2024 |
Other related parties |
|
Receipt of services |
|
|
|
|
Expenditure with and payables to related parties
|
2025 |
Other related parties |
|
Rendering of services |
|
|
Amounts payable to related party |
|
|
|
|
|
2024 |
Other related parties |
|
Rendering of services |
|
|
Amounts payable to related party |
|
|
|
|
Holcombe's Of Taunton Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Loans to related parties
|
2025 |
Key management |
Other related parties |
Total |
|
At start of period |
|
|
|
|
Advanced |
|
- |
|
|
Repaid |
- |
( |
( |
|
At end of period |
|
|
|
|
|
|||
|
2024 |
Key management |
Other related parties |
Total |
|
At start of period |
- |
|
|
|
Advanced |
|
|
|
|
At end of period |
|
|
|
|
|
|||
Group and company
Summary of transactions with subsidiaries
Summary of transactions with other related parties
|
|
Expenditure with and payables to related parties
|
2025 |
Other related parties |
|
Leases |
|
|
|
|
|
2024 |
Other related parties |
|
Leases |
|
|
|
|
|
Parent and ultimate parent undertaking |
M C Holcombe is considered the ultimate controlling party by virtue of his holding of all of the issued share capital of the company.