REGISTERED NUMBER: SC582443 (Scotland)

Financial Statements for the Year Ended 31 December 2025

for

Harrison's Retail Centre Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M W Short

I A Short

D G Short

REGISTERED OFFICE:

39-41 Bonnyrigg Road

Dalkeith

Midlothian

EH22 3HF

REGISTERED NUMBER:

SC582443 (Scotland)

AUDITORS:

Gibson McKerrell Burrows Limited

28 Rutland Square

Edinburgh

EH1 2BW

FIXED ASSETS

Intangible assets

5

12,000

18,000

Tangible assets

6

24,885

30,243

36,885

48,243

CURRENT ASSETS

Stocks

658,421

976,749

Debtors

7

371,933

322,935

Cash at bank and in hand

99,679

95,638

1,130,033

1,395,322

CREDITORS

Amounts falling due within one year

8

674,990

643,576

NET CURRENT ASSETS

455,043

751,746

TOTAL ASSETS LESS CURRENT LIABILITIES

491,928

799,989

CREDITORS

Amounts falling due after more than one year

9

-

(22,500

)

PROVISIONS FOR LIABILITIES

(6,221

)

(6,061

)

NET ASSETS

485,707

771,428

CAPITAL AND RESERVES

Called up share capital

12

750

1,000

Capital redemption reserve

13

250

-

Retained earnings

13

484,707

770,428

SHAREHOLDERS' FUNDS

485,707

771,428

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2026 and were signed on its behalf by:

D G Short - Director

1.	GENERAL INFORMATION

Harrison's Retail Centre Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Turnover represents the amount due for goods sold, for services provided and for finance commissions earned stated net of discounts and valued added tax.

Sales of goods are recognised when the goods are delivered, sale of services are recognised when the service has been provided and finance commissions are recognised on delivery of the related vehicles.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2018, is being amortised evenly over its estimated useful life of 10 years.

Amortisation

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.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill

- 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible, the amortisation is revised prospectively to reflect the new expectation.

Tangible fixed assets

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

Tangible fixed assets are initially measured at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of ant previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in the equity in respect of that asset, the excess shall be recognised in profit and loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Lease Premium

- 20% straight line

Plant and machinery

- 20% straight line

Fixtures and fittings

- 20% straight line

Computer Equipment

- 20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Going concern

When preparing the financial statements, the directors shall make an assessment of the entity's ability to continue as a going concern. Financial statements shall be prepared on a going concern basis unless the directors either intends to liquidate the entity or to cease training, or has no realistic alternative but to do so.

Impairment of fixed assets

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

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

4.	AUDITORS' REMUNERATION

31.12.25

31.12.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

5,500

5,000

Total audit fees

5,500

5,000

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

60,000

AMORTISATION

At 1 January 2025

42,000

Charge for year

6,000

At 31 December 2025

48,000

NET BOOK VALUE

At 31 December 2025

12,000

At 31 December 2024

18,000

6.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

60,000

174,372

27,266

83,516

345,154

Additions

-

4,947

2,807

824

8,578

Disposals

-

-

-

(16,470

)

(16,470

)

At 31 December 2025

60,000

179,319

30,073

67,870

337,262

DEPRECIATION

At 1 January 2025

60,000

165,364

18,841

70,706

314,911

Charge for year

-

3,716

4,186

6,034

13,936

Eliminated on disposal

-

-

-

(16,470

)

(16,470

)

At 31 December 2025

60,000

169,080

23,027

60,270

312,377

NET BOOK VALUE

At 31 December 2025

-

10,239

7,046

7,600

24,885

At 31 December 2024

-

9,008

8,425

12,810

30,243

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

70,074

97,385

Loan - W&J Short

150,000

150,000

Prepayments

151,859

75,550

371,933

322,935

During the year a loan was awarded to W & J Short, a related party as the directors of Harrison's Retail Centre Limited are also partners in W & J Short.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts (see note 10)

22,500

30,000

Trade creditors

49,458

328,596

Corporation tax

(33,679

)

39,355

VAT

65,205

14,854

Social security and other

taxes

13,921

10,408

Other creditors

467,361

76,486

Accruals and deferred income

90,224

143,877

674,990

643,576

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans (see note 10)

-

22,500

The bank loan is secured by a bond and floating charge over the company's assets. In addition the bank holds an inter company guarantee from Dalkeith Retail Centre Limited of £250,000.

10.

LOANS

An analysis of the maturity of loans is given below:

31.12.25

31.12.24

£

£

Amounts falling due within one year or on demand:

Bank loans

22,500

30,000

Amounts falling due between one and two years:

Bank loans and overdrafts

-

22,500

The bank loan is secured by a bond and floating charge over the company's assets. In addition the bank holds an inter company guarantee from Dalkeith Retail Centre Limited of £250,000.

11.	LEASING AGREEMENTS

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

31.12.25

31.12.24

£

£

Within one year

105,000

105,000

Between one and five years

210,000

315,000

315,000

420,000

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

1,000

Ordinary Shares

1

750

1,000

During the year the company bought back 250 shares from the estate of Gordon Close

13.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2025

770,428

-

770,428

Deficit for the year

(113,161

)

(113,161

)

Dividends

(60,000

)

(60,000

)

Purchase of own shares

(112,560

)

250

(112,310

)

At 31 December 2025

484,707

250

484,957

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

William A S Gunn (Senior Statutory Auditor)

for and on behalf of Gibson McKerrell Burrows Limited

15.	RELATED PARTY DISCLOSURES

The company was under the joint control of 3 directors, M Short, D Short, I Short.

During the year the company purchased the shares held by the estate of Gordon Close who owned 25% of the issued share capital.

Harrison's Retail Centre Limited charged Dalkeith Retail Centre £85,000 (2024- £85,000) by way of the management charge.

Harrison's Retail Centre Limited owed Dalkeith Retail Centre Limited £400,000 (2024 - £28,160) this amount is included in other creditors.

W & J Short owe Harrison's Retail Centre Limited £150,000 (2024 - £150,000) with regards to a loan given to them. W & J Short, the directors of Harrison's Retail Centre Limited are also partners in W & J Short.