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Registration number: 02069277

Howard's Of Carmarthen Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Howard's Of Carmarthen Limited

Company Information

Directors

Mrs L D Dillon Mr W J Dillon

Company secretary

Mrs L D Dillon

Registered office

Station Approach Carmarthen SA31 2BE

Howard's Of Carmarthen Limited

(Registration number: 02069277)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	651,069	672,497
Investment property	6	245,271	245,271
		896,340	917,768
Current assets
Stocks	7	906,643	937,275
Debtors	8	184,702	189,308
Cash at bank and in hand		541	541
		1,091,886	1,127,124
Creditors: Amounts falling due within one year	9	(1,618,242)	(1,489,998)
Net current liabilities		(526,356)	(362,874)
Total assets less current liabilities		369,984	554,894
Creditors: Amounts falling due after more than one year	9	(5,228)	(6,667)
Net assets		364,756	548,227
Capital and reserves
Called up share capital		10,000	10,000
Revaluation reserve		507,797	507,797
Profit and loss account		(153,041)	30,430
Total equity		364,756	548,227

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Howard's Of Carmarthen Limited

(Registration number: 02069277)
Balance Sheet as at 31 October 2025

Approved and authorised by the Board on 26 October 2026 and signed on its behalf by:
 

......................................... Mrs L D Dillon Company secretary and director

Howard's Of Carmarthen Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Station Approach
Carmarthen
SA31 2BE

These financial statements were authorised for issue by the Board on 26 October 2026.

2	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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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 company operates and generates taxable income.

Howard's Of Carmarthen Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

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 buildings	over 50 years
Leasehold land and buildings	over the lease term
Plant and machinery	over 5 years
Fixtures, fittings and computer equipment	over 4 years
Vehicles	over 5 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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 company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Howard's Of Carmarthen Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

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 company 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 company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 company 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2024 - 11).

4	Loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	21,428	24,472

Howard's Of Carmarthen Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

5	Tangible assets

	Land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 November 2024	1,041,998	293,657	1,335,655
At 31 October 2025	1,041,998	293,657	1,335,655
Depreciation
At 1 November 2024	382,189	280,969	663,158
Charge for the year	16,252	5,176	21,428
At 31 October 2025	398,441	286,145	684,586
Carrying amount
At 31 October 2025	643,557	7,512	651,069
At 31 October 2024	659,809	12,688	672,497

Included within the net book value of land and buildings above is £643,557 (2024 - £659,809) in respect of freehold land and buildings.
 

6	Investment properties

	2025 £
At 1 November	245,271

There has been no valuation of investment property by an independent valuer.

7

Stocks

	2025 £	2024 £
Work in progress	16,714	-
Other inventories	889,929	937,275
	906,643	937,275

Howard's Of Carmarthen Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

8

Debtors

	2025 £	2024 £
Trade debtors	4,494	8,685
Prepayments	6,742	7,052
Other debtors	173,466	173,571
	184,702	189,308

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	11	424,500	373,887
Trade creditors		792,372	792,021
Taxation and social security		54,274	44,370
Amounts owed to group undertakings and undertakings in which the company has a participating interest	12	269,620	269,620
Other related parties	12	62,500	-
Other creditors		14,976	10,100
		1,618,242	1,489,998