Registration number: 05709143

Harding Auto Services Ltd

Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	334,417	332,722
Current assets
Stocks	5	43,950	43,950
Debtors	6	28,662	135,440
Cash at bank and in hand		18,743	7
		91,355	179,397
Creditors: Amounts falling due within one year	7	(152,348)	(210,726)
Net current liabilities		(60,993)	(31,329)
Total assets less current liabilities		273,424	301,393
Creditors: Amounts falling due after more than one year	7	(159,384)	(176,342)
Provisions for liabilities		(71,957)	(75,239)
Net assets		42,083	49,812
Capital and reserves
Called up share capital		100	100
Retained earnings		41,983	49,712
Shareholders' funds		42,083	49,812

For the financial year ending 31 March 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Harding Auto Services Ltd have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Harding Auto Services Ltd

Statement of Financial Position as at 31 March 2025

Approved and authorised by the Board on 24 November 2025 and signed on its behalf by:
 

.........................................

Mr M Harding

Director

Company registration number: 05709143

Harding Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Robins
17 Falmouth Close
Camberley
Surrey
GU15 1EA

The principal activity of the company is that of servicing and repairs of motor vehicles.

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 March 2025 and had net assets at that date amounting to £42,083. Having made enquiries the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

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 value added tax, returns, rebates and discounts.

The company recognises revenue upon the completion of vehicle servicing or repairs upon completion of the servicing or repair.

Government grants

Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Harding Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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 company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the 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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold improvements	Over period of lease
Motor vehicles	25% reducing balance
Plant and machinery	5% - 20% straight line

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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.

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 inventories 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.

Harding Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 income statement 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.

Finance leases and operating 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. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Research and development

Research and development expenditure is written off to the statement of income and retained earnings as incurred.

3	Staff numbers

The average number of persons employed by the company during the year was 14 (2024 - 15).

Harding Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Leasehold improvements £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	24,604	7,458	478,694	510,756
Additions	-	-	39,656	39,656
Disposals	-	(1,458)	(16,878)	(18,336)
At 31 March 2025	24,604	6,000	501,472	532,076
Depreciation
At 1 April 2024	24,351	6,946	146,737	178,034
Charge for the year	63	128	37,575	37,766
Eliminated on disposal	-	(1,458)	(16,683)	(18,141)
At 31 March 2025	24,414	5,616	167,629	197,659
Carrying amount
At 31 March 2025	190	384	333,843	334,417
At 31 March 2024	253	512	331,957	332,722

5

Stocks

	2025 £	2024 £
Stock	43,950	43,950

6

Debtors

	2025 £	2024 £
Trade debtors	-	15,360
Other debtors	28,662	120,080
	28,662	135,440

Harding Auto Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Bank loans and overdrafts	8	59,662	57,176
Trade creditors		1,226	38,457
Taxation and social security		57,909	65,260
Other creditors		33,551	49,833
		152,348	210,726

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings	8	159,384	176,342

8	Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Bank loans	56,828	39,747
Bank overdrafts	303	17,429
Finance lease agreements	2,531	-
	59,662	57,176

	2025 £	2024 £
Non-current loans and borrowings
Bank loans	145,227	176,342
Finance lease agreements	14,157	-
	159,384	176,342

Bank loans and overdrafts are secured by a fixed and floating charge over the assets and undertakings of the company.

9	Financial commitments, guarantees and contingencies

Operating lease commitments

The total amount of financial commitments not included in the statement of financial position is £122,000 (2024 - £180,000).