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REGISTERED NUMBER: 00505432 (England and Wales)





















COUNTRY LION (NORTHAMPTON) LIMITED

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Group Strategic Report 2 to 3

Report of the Directors 4 to 5

Report of the Independent Auditors 6 to 9

Consolidated Statement of Comprehensive Income 10 to 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17 to 18

Notes to the Consolidated Financial Statements 19 to 37


COUNTRY LION (NORTHAMPTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs J M Bull
D A O'Dell
Mrs M C Cox





SECRETARY: Mrs J M Bull





REGISTERED OFFICE: Oxwich Close
Brackmills Industrial Estate
Northampton
Northamptonshire
NN4 7BH





REGISTERED NUMBER: 00505432 (England and Wales)





AUDITORS: Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their strategic report of the Company and the Group for the year ended 31 March 2024.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

We feel the overall results are encouraging as the business continues to recover from the impact of COVID-19 related decreases in turnover in previous years. The Group has continued to trade profitably throughout the year,

The group's balance sheet has increased by £946,196 after the Group paid dividends of £100,000, including the impact of an £800,000 increase in the valuation of the group's property.

The business market we operate in continues to be challenging. However, the directors are confident of achieving continued profitability.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal financial risks faced by the company and the group, and their objectives and policies in relation to those risks are as follows:-

CASH FLOW RISK
The company and the group closely monitor and manage cash flow. Cash flow forecasts are prepared with the objective of alerting the directors to potential future risks. It is the company and the group's policy to ensure that forecast funding requirements can be met from available facilities.

CREDIT RISK
Credit risk is the financial exposure generated by the potential default of third parties in fulfilling their obligations. Credit risk arises for the company and the group if it is unable to recover sums due from customers. Setting maximum levels of credit tolerance for more significant customers and regularly reviewing these levels mitigate this.

IMPACT FROM BREXIT
It is felt that the UK's exit from the European Union has not had an impact on the current year's performance and development. As a majority of Country Lion (Northampton) Ltd customers are businesses BREXIT may have an indirect affect on future financial years, the directors will closely monitor cash flows and contracts to ensure the impact is as minimal as possible.

IMPACT FROM COVID-19
The impact of Covid-19 on our business was significant. For the financial year ending 31 March 2024 we are projecting a continued improvement in turnover. The directors are confident that a combination of cost management, and a review of our vehicle replacement programme means we are confident of maintaining profitability and the long term future of the business.


COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

KEY PERFORMANCE INDICATORS
We consider our key performance indicators are those that communicate the financial performance and strength of the company and the group as a whole, these being turnover, profits and return on capital employed.

Group turnover has increased by 23.0% compared to the previous year.

Operating profit is £505,522 (2023 - £114,200). Profit after taxation is £246,196 (2023 - £113,145).

Return on capital employed is 6.47% (2023 - 2.8%). Return on capital employed is calculated as profit before interest and tax divided by capital employed, which constitutes total assets less current liabilities, less investments, less cash, plus overdrafts and other short term borrowings.

ON BEHALF OF THE BOARD:





Mrs J M Bull - Director


24 September 2024

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


The directors present their report with the financial statements of the Company and the Group for the year ended 31 March 2024.

PRINCIPAL ACTIVITIES
The principal activities of the Group in the year under review were those of coach operators and hire of self drive vehicles, and provision of holidays and short breaks for customers over the age of 50.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £100,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mrs J M Bull
D A O'Dell
Mrs M C Cox

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Group's auditors are aware of that information.

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, Phipps Henson McAllister, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs J M Bull - Director


24 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUNTRY LION (NORTHAMPTON) LIMITED


Opinion
We have audited the financial statements of Country Lion (Northampton) Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 of the Parent Company affairs as at 31 March 2024 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 Auditors' 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 directors' 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's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUNTRY LION (NORTHAMPTON) LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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 directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUNTRY LION (NORTHAMPTON) LIMITED


Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006, the Package Travel Regulations 1992, and UK corporate taxation laws.
- We obtained an understanding of how the Group complies with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of board minutes and other papers.
- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgments made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
- assessing the extent of compliance with the relevant laws and regulations.

These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from an error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COUNTRY LION (NORTHAMPTON) LIMITED


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 a Report of the Auditors 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.




Stuart Armstrong FCCA (Senior Statutory Auditor)
for and on behalf of Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

24 September 2024

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 6,449,016 5,244,089

Cost of sales 4,533,782 3,969,120
GROSS PROFIT 1,915,234 1,274,969

Distribution costs 49,061 47,103
Administrative expenses 1,371,296 1,132,789
1,420,357 1,179,892
494,877 95,077

Other operating income 10,645 19,123
OPERATING PROFIT 5 505,522 114,200

Profit/loss on sale of capital equipment 6 (875 ) 79,193
504,647 193,393

Interest receivable and similar income 21,316 5,029
525,963 198,422

Interest payable and similar expenses 7 105,515 88,252
PROFIT BEFORE TAXATION 420,448 110,170

Tax on profit 8 174,252 (2,975 )
PROFIT FOR THE FINANCIAL YEAR 246,196 113,145

OTHER COMPREHENSIVE INCOME
Revaluation 800,000 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

800,000

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,046,196

113,145

Profit attributable to:
Owners of the parent 246,196 113,145

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£    £   

Total comprehensive income attributable to:
Owners of the parent 1,046,196 113,145

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 777 1,274
Tangible assets 12 7,896,802 6,386,958
Investments 13 - -
7,897,579 6,388,232

CURRENT ASSETS
Stocks 14 36,777 29,426
Debtors 15 969,740 1,357,381
Investments 16 3,422 3,422
Cash at bank and in hand 1,420,940 1,115,210
2,430,879 2,505,439
CREDITORS
Amounts falling due within one year 17 1,716,736 1,448,899
NET CURRENT ASSETS 714,143 1,056,540
TOTAL ASSETS LESS CURRENT LIABILITIES 8,611,722 7,444,772

CREDITORS
Amounts falling due after more than one
year

18

(1,947,430

)

(1,900,928

)

PROVISIONS FOR LIABILITIES 22 (1,014,187 ) (839,935 )
NET ASSETS 5,650,105 4,703,909

CAPITAL AND RESERVES
Called up share capital 23 581 581
Revaluation reserve 24 1,382,425 582,425
Capital redemption reserve 24 2,371 2,371
Retained earnings 24 4,264,728 4,118,532
SHAREHOLDERS' FUNDS 5,650,105 4,703,909

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mrs J M Bull - Director


COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 7,896,802 6,386,958
Investments 13 17,500 17,500
7,914,302 6,404,458

CURRENT ASSETS
Stocks 14 36,777 29,426
Debtors 15 874,369 1,298,631
Investments 16 3,422 3,422
Cash at bank and in hand 1,023,549 784,335
1,938,117 2,115,814
CREDITORS
Amounts falling due within one year 17 1,295,677 1,121,272
NET CURRENT ASSETS 642,440 994,542
TOTAL ASSETS LESS CURRENT LIABILITIES 8,556,742 7,399,000

CREDITORS
Amounts falling due after more than one
year

18

(1,947,430

)

(1,900,928

)

PROVISIONS FOR LIABILITIES 22 (1,014,187 ) (839,935 )
NET ASSETS 5,595,125 4,658,137

CAPITAL AND RESERVES
Called up share capital 23 581 581
Revaluation reserve 24 1,382,425 582,425
Capital redemption reserve 24 2,371 2,371
Retained earnings 24 4,209,748 4,072,760
SHAREHOLDERS' FUNDS 5,595,125 4,658,137

Company's profit for the financial year 236,988 112,263

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:



Mrs J M Bull - Director


COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 April 2022 581 4,105,387 582,425 2,371 4,690,764

Changes in equity
Dividends - (100,000 ) - - (100,000 )
Total comprehensive income - 113,145 - - 113,145
Balance at 31 March 2023 581 4,118,532 582,425 2,371 4,703,909

Changes in equity
Dividends - (100,000 ) - - (100,000 )
Total comprehensive income - 246,196 800,000 - 1,046,196
Balance at 31 March 2024 581 4,264,728 1,382,425 2,371 5,650,105

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 April 2022 581 4,060,497 582,425 2,371 4,645,874

Changes in equity
Total comprehensive income - 112,263 - - 112,263
Dividends - (100,000 ) - - (100,000 )
Balance at 31 March 2023 581 4,072,760 582,425 2,371 4,658,137

Changes in equity
Total comprehensive income - 236,988 800,000 - 1,036,988
Dividends - (100,000 ) - - (100,000 )
Balance at 31 March 2024 581 4,209,748 1,382,425 2,371 5,595,125

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,818,607 431,397
Interest paid (56,188 ) (35,178 )
Interest element of hire purchase payments
paid

(49,327

)

(53,074

)
Tax paid (14,447 ) -
Net cash from operating activities 1,698,645 343,145

Cash flows from investing activities
Purchase of tangible fixed assets (591,282 ) (23,969 )
Sale of tangible fixed assets 2,375 55,323
Interest received 21,316 5,029
Net cash from investing activities (567,591 ) 36,383

Cash flows from financing activities
Loan repayments in year (45,333 ) (52,429 )
Capital element of hire purchase (679,991 ) (560,179 )
Equity dividends paid (100,000 ) (100,000 )
Net cash from financing activities (825,324 ) (712,608 )

Increase/(decrease) in cash and cash equivalents 305,730 (333,080 )
Cash and cash equivalents at beginning of
year

2

1,115,210

1,448,290

Cash and cash equivalents at end of year 2 1,420,940 1,115,210

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 420,448 110,170
Depreciation charges 691,561 718,230
Finance costs 105,515 88,252
Finance income (21,316 ) (5,029 )
1,196,208 911,623
(Increase)/decrease in stocks (7,351 ) 6,559
Decrease/(increase) in trade and other debtors 312,488 (615,014 )
Increase in trade and other creditors 317,262 128,229
Cash generated from operations 1,818,607 431,397

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 1,420,940 1,115,210
Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 1,115,210 1,448,290


COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1/4/23 Cash flow changes At 31/3/24
£    £    £    £   
Net cash
Cash at bank
and in hand 1,115,210 305,730 1,420,940
1,115,210 305,730 1,420,940

Liquid resources
Current asset
investments 3,422 - - 3,422
3,422 - - 3,422
Debt
Finance leases (1,614,410 ) 679,991 - (1,746,419 )
Debts falling due
within 1 year (42,627 ) (1,173 ) - (43,800 )
Debts falling due
after 1 year (813,825 ) 46,505 - (767,320 )
(2,470,862 ) 725,323 - (2,557,539 )
Total (1,352,230 ) 1,031,053 - (1,133,177 )

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Country Lion (Northampton) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements incorporate the financial statements of the company and all group undertakings, together with the group's share of the net assets and results of associated undertakings. These are adjusted, where appropriate, to conform to group accounting policies. Acquisitions are accounted for under the acquisition method. The results of companies acquired or disposed of are included in the profit and loss account after or up to the date that control passes respectively. As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006.

Critical accounting judgements and key sources of estimation uncertainty
To be able to prepare financial statements in accordance with FRS102, Country Lion (Northampton) Limited
must make certain estimates and judgements that have an impact on the policies and the amounts reported
in the annual accounts. The estimates and judgement are based on historical experiences and other factors
including expectations of future events that are believed to be reasonable at the time such estimates and
judgements are made. Actual experience may vary from these estimates.

The estimates and assumptions which have the most significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities are discussed below:

Inventory Provisions
Country Lion (Northampton) Limited writes down inventories to net realisable value based on an estimate of
the realisability of inventories. Write downs on inventories are recorded where events or changes in
circumstances indicate that the current carrying values may not realised. The write down will be recognised
in the income statements in the year the change in estimate occurs.

Tangible Assets
Country Lion (Northampton) Limited determines the estimated useful lives, residual values and related
depreciation charges for its property, plant and equipment with reference to the estimated periods that the
company intends to derive future economic benefits from the use of these assets. Management will revise
the depreciation charge where useful lives or residual values are materially different from those previously
estimated. Actual economic lives may differ from estimated useful lives and actual residual values may differ
from estimated residual values. Periodic review could result in a change in depreciable lives and residual
values and therefore depreciation expenses in the future periods.

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents gross revenue earned from public transport services and excludes payments received on account. Amounts receivable for tendered services, vehicle hire concessionary fare schemes are included as part of revenue. Turnover for coach, hotel and tour operations are recognised when the service is provided. Where appropriate, amounts are shown net of VAT.

Goodwill
Goodwill has arisen on the consolidation of the subsidiary and represents the excess of the cost of investment over the fair value of the assets acquired. The goodwill is being amortised over a period of 20 years.

Intangible assets
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures, fittings and equipment-rates of between 10% straight line and 33.3% straight line or 25%
reducing balance.
Motor cars-25% straight line
Coaches-rates of between 7.5% straight line and 25% straight line
Self drive hire vehicles-rates of between 10% straight line and 25% straight line

No depreciation is provided on the freehold land under FRS102. The directors feel that the residual value will not be materially different to the original cost of the land.

In accordance with FRS102 an annual impairment review is conducted on the freehold building to ensure the carrying value is less than or equal to the recoverable amount.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments
Current asset investments are stated at cost.

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the Group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Coach and self drive hire 5,017,419 4,143,823
Coach tour holidays 1,431,597 1,100,266
6,449,016 5,244,089

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,286,377 1,815,727
Social security costs 223,777 176,876
Other pension costs 51,923 37,466
2,562,077 2,030,069

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administrative & office staff 21 15
Productive personnel 49 44
70 59

2024 2023
£    £   
Directors' remuneration 275,107 253,581
Directors' pension contributions to money purchase schemes 16,363 3,963

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 96,721 88,035
Pension contributions to money purchase schemes 2,521 1,321

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 129,670 113,569
Depreciation - owned assets 364,855 415,039
Depreciation - assets on hire purchase contracts 326,208 302,696
Goodwill amortisation 497 497
Auditors' remuneration 15,420 14,688
Auditors' remuneration for non audit work 11,808 11,232

6. EXCEPTIONAL ITEMS
2024 2023
£    £   
Profit/loss on sale of capital equipment (875 ) 79,193

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 56,188 35,178
Hire purchase 49,327 53,074
105,515 88,252

8. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 89,600

Deferred tax 174,252 (92,575 )
Tax on profit 174,252 (2,975 )

UK corporation tax has been charged at 25 % (2023 - 19 %).

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 420,448 110,170
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

105,112

20,932

Effects of:
Expenses not deductible for tax purposes 1,323 837
Capital allowances in excess of depreciation (213,403 ) -
Depreciation in excess of capital allowances - 70,806
Utilisation of tax losses 106,968 (61 )
Adjustments to tax charge in respect of previous periods - (2,914 )
Deferred Taxation 174,252 (92,575 )
Total tax charge/(credit) 174,252 (2,975 )

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation 800,000 - 800,000

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. DIVIDENDS

Dividends of £100,000 (2023 - £100,000) have been paid in the year.

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 9,932
AMORTISATION
At 1 April 2023 8,658
Amortisation for year 497
At 31 March 2024 9,155
NET BOOK VALUE
At 31 March 2024 777
At 31 March 2023 1,274

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS

Group
Fixtures,
Land and Freehold fittings
buildings property and
freehold improvements equipment
£    £    £   
COST OR VALUATION
At 1 April 2023 1,994,894 155,106 322,145
Additions - - 60,918
Disposals - - (10,016 )
Revaluations 800,000 - -
Reclassification/transfer 155,106 (155,106 ) -
At 31 March 2024 2,950,000 - 373,047
DEPRECIATION
At 1 April 2023 - - 250,008
Charge for year - - 3,060
Eliminated on disposal - - (10,016 )
At 31 March 2024 - - 243,052
NET BOOK VALUE
At 31 March 2024 2,950,000 - 129,995
At 31 March 2023 1,994,894 155,106 72,137

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS - continued

Group

Coaches
Motor and hire
cars vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 147,974 8,124,712 10,744,831
Additions - 1,342,364 1,403,282
Disposals - (16,250 ) (26,266 )
Revaluations - - 800,000
Reclassification/transfer - - -
At 31 March 2024 147,974 9,450,826 12,921,847
DEPRECIATION
At 1 April 2023 35,577 4,072,288 4,357,873
Charge for year 36,993 651,010 691,063
Eliminated on disposal - (13,875 ) (23,891 )
At 31 March 2024 72,570 4,709,423 5,025,045
NET BOOK VALUE
At 31 March 2024 75,404 4,741,403 7,896,802
At 31 March 2023 112,397 4,052,424 6,386,958

Cost or valuation at 31 March 2024 is represented by:

Fixtures,
Land and fittings Coaches
buildings and Motor and hire
freehold equipment cars vehicles Totals
£    £    £    £    £   
Valuation in 2018 582,425 - - - 582,425
Valuation in 2024 800,000 - - - 800,000
Cost 1,567,575 373,047 147,974 9,450,826 11,539,422
2,950,000 373,047 147,974 9,450,826 12,921,847

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS - continued

Group

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,412,469 1,412,469

Value of land in freehold land and buildings 1,000,000 1,000,000

Freehold land and buildings were valued on an open market basis on 31 March 2024 by Drake Commercial .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Coaches
Motor and hire
cars vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 147,974 3,454,190 3,602,164
Additions - 812,000 812,000
Transfer to ownership - (480,500 ) (480,500 )
At 31 March 2024 147,974 3,785,690 3,933,664
DEPRECIATION
At 1 April 2023 35,577 1,063,084 1,098,661
Charge for year 36,993 289,215 326,208
Transfer to ownership - (264,513 ) (264,513 )
At 31 March 2024 72,570 1,087,786 1,160,356
NET BOOK VALUE
At 31 March 2024 75,404 2,697,904 2,773,308
At 31 March 2023 112,397 2,391,106 2,503,503

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS - continued

Company
Fixtures,
Land and Freehold fittings
buildings property and
freehold improvements equipment
£    £    £   
COST OR VALUATION
At 1 April 2023 1,994,894 155,106 322,145
Additions - - 60,918
Disposals - - (10,016 )
Revaluations 800,000 - -
Reclassification/transfer 155,106 (155,106 ) -
At 31 March 2024 2,950,000 - 373,047
DEPRECIATION
At 1 April 2023 - - 250,008
Charge for year - - 3,060
Eliminated on disposal - - (10,016 )
At 31 March 2024 - - 243,052
NET BOOK VALUE
At 31 March 2024 2,950,000 - 129,995
At 31 March 2023 1,994,894 155,106 72,137

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS - continued

Company

Coaches
Motor and hire
cars vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 147,974 8,124,712 10,744,831
Additions - 1,342,364 1,403,282
Disposals - (16,250 ) (26,266 )
Revaluations - - 800,000
Reclassification/transfer - - -
At 31 March 2024 147,974 9,450,826 12,921,847
DEPRECIATION
At 1 April 2023 35,577 4,072,288 4,357,873
Charge for year 36,993 651,010 691,063
Eliminated on disposal - (13,875 ) (23,891 )
At 31 March 2024 72,570 4,709,423 5,025,045
NET BOOK VALUE
At 31 March 2024 75,404 4,741,403 7,896,802
At 31 March 2023 112,397 4,052,424 6,386,958

Cost or valuation at 31 March 2024 is represented by:

Fixtures,
Land and fittings Coaches
buildings and Motor and hire
freehold equipment cars vehicles Totals
£    £    £    £    £   
Valuation in 2018 582,425 - - - 582,425
Valuation in 2024 800,000 - - - 800,000
Cost 1,567,575 373,047 147,974 9,450,826 11,539,422
2,950,000 373,047 147,974 9,450,826 12,921,847

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. TANGIBLE FIXED ASSETS - continued

Company

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,412,469 1,412,469

Value of land in freehold land and buildings 1,000,000 1,000,000

Freehold land and buildings were valued on an open market basis on 31 March 2024 by Drake & Partners .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Coaches
Motor and hire
cars vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 147,974 3,454,190 3,602,164
Additions - 812,000 812,000
Transfer to ownership - (480,500 ) (480,500 )
At 31 March 2024 147,974 3,785,690 3,933,664
DEPRECIATION
At 1 April 2023 35,577 1,063,084 1,098,661
Charge for year 36,993 289,215 326,208
Transfer to ownership - (264,513 ) (264,513 )
At 31 March 2024 72,570 1,087,786 1,160,356
NET BOOK VALUE
At 31 March 2024 75,404 2,697,904 2,773,308
At 31 March 2023 112,397 2,391,106 2,503,503

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 31 March 2024 17,500
NET BOOK VALUE
At 31 March 2024 17,500
At 31 March 2023 17,500

The Group or the Company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Cloud Nine Holidays Limited
Registered office: Oxwich Close, Brackmills Industrial Estate, Northampton NN4 7BH
Nature of business: Tour Operators
%
Class of shares: holding
Ordinary shares 100.00
2024 2023
£    £   
Aggregate capital and reserves 69,863 62,002
Profit for the year 7,861 1,379


14. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Stocks 36,777 29,426 36,777 29,426

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 564,686 573,767 564,686 573,767
Other debtors 10,470 7,133 10,470 7,133
Tax - 75,153 - 75,153
VAT 109,332 108,298 88,075 107,722
Prepayments 285,252 593,030 211,138 534,856
969,740 1,357,381 874,369 1,298,631

16. CURRENT ASSET INVESTMENTS

Group Company
2024 2023 2024 2023
£    £    £    £   
Listed investments - cost 3,422 3,422 3,422 3,422

Market value of listed investments at 31 March 2024 held by the Group and the Company - £ (3,422) (2023 - £ (3,422) ).

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 19) 43,800 42,627 43,800 42,627
Hire purchase contracts (see note 20) 566,309 527,307 566,309 527,307
Trade creditors 361,712 175,311 356,072 168,670
Amounts owed to group undertakings - - 100,871 109,869
Corporation tax - 89,600 - 89,277
Social security and other taxes 72,216 56,460 70,338 49,967
Other creditors 81,326 95,464 81,326 95,464
Accruals and deferred income 591,373 462,130 76,961 38,091
1,716,736 1,448,899 1,295,677 1,121,272

Obligations under Hire Purchase agreements are secured on the assets to which they relate.

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 19) 767,320 813,825 767,320 813,825
Hire purchase contracts (see note 20) 1,180,110 1,087,103 1,180,110 1,087,103
1,947,430 1,900,928 1,947,430 1,900,928

19. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 43,800 42,627 43,800 42,627
Amounts falling due between one and two years:
Bank loans - 1-2 years 46,506 46,506 46,506 46,506
Amounts falling due between two and five years:
Bank loans - 2-5 years 156,654 156,654 156,654 156,654
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more than 5 years by
instalments

564,160

610,665

564,160

610,665

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 566,309 527,307
Between one and five years 1,008,591 1,068,872
In more than five years 171,519 18,231
1,746,419 1,614,410

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


20. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 566,309 527,307
Between one and five years 1,008,591 1,068,872
In more than five years 171,519 18,231
1,746,419 1,614,410

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 64,744 136,446
Between one and five years 77,902 222,554
142,646 359,000

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 64,744 136,446
Between one and five years 77,902 222,554
142,646 359,000

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


21. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 811,120 856,452 811,120 856,452
Hire purchase contracts 1,746,419 1,614,410 1,746,419 1,614,410
2,557,539 2,470,862 2,557,539 2,470,862

The bank loans and overdraft are secured by a fixed charge over the freehold properties. Chattel mortgages are secured over the company's vehicles and a fixed and floating charge over the remaining assets of the group companies.

In addition there is also a cross-guarantee provided to the Group's bankers to cover bank borrowings of Cloud Nine Holidays Limited and Country Lion (Northampton) Limited.

Obligations under hire purchase agreements are secured against the assets to which they relate.

22. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 1,014,187 839,935 1,014,187 839,935

Group
Deferred
tax
£   
Balance at 1 April 2023 839,935
Provided during year 174,252
Balance at 31 March 2024 1,014,187

Company
Deferred
tax
£   
Balance at 1 April 2023 839,935
Provided during year 174,252
Balance at 31 March 2024 1,014,187

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
581 Ordinary £1 581 581

24. RESERVES

Group
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 4,118,532 582,425 2,371 4,703,328
Profit for the year 246,196 246,196
Dividends (100,000 ) (100,000 )
Revaluation in year - 800,000 - 800,000
At 31 March 2024 4,264,728 1,382,425 2,371 5,649,524

Company
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 4,072,760 582,425 2,371 4,657,556
Profit for the year 236,988 236,988
Dividends (100,000 ) (100,000 )
Revaluation in year - 800,000 - 800,000
At 31 March 2024 4,209,748 1,382,425 2,371 5,594,544

Retained Earnings comprise accumulated profits and losses.

Revaluation Reserve is a non-distributable reserve arising on the revaluation of certain tangible fixed assets.

Capital Redemption Reserve arises on the purchase and subsequent cancellation of the company's own
shares.

25. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions of £14,673 (2023: £nil) were payable to the fund at the balance sheet date.

COUNTRY LION (NORTHAMPTON) LIMITED (REGISTERED NUMBER: 00505432)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


26. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 188,650

27. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Certain directors received dividends on their shareholdings totalling £100,000 (2023: £100,000).

28. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs J M Bull by virtue of a majority shareholding.