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Registration number: 07987939

College and County Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

College and County Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

College and County Limited

Company Information

Directors

Mr T Crampton Smith

Mr D Gilson

Mr M Crampton Smith

Mr R Watts

Registered office

9-10 St Clements Street
Oxford
Oxfordshire
OX4 1AB

Accountants

WoodWhite Accountants Ltd
Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

 

College and County Limited

(Registration number: 07987939)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

771,935

771,806

Tangible assets

5

41,190

45,016

Investments

6

296,017

296,025

 

1,109,142

1,112,847

Current assets

 

Debtors

7

124,305

351,447

Cash at bank and in hand

 

350,069

263,812

 

474,374

615,259

Creditors: Amounts falling due within one year

8

(234,644)

(333,018)

Net current assets

 

239,730

282,241

Total assets less current liabilities

 

1,348,872

1,395,088

Creditors: Amounts falling due after more than one year

8

(9,076)

(47,936)

Provisions for liabilities

(11,056)

(10,514)

Net assets

 

1,328,740

1,336,638

Capital and reserves

 

Called up share capital

3

3

Share premium reserve

12,408

12,408

Retained earnings

1,316,329

1,324,227

Shareholders' funds

 

1,328,740

1,336,638

For the financial year ending 31 July 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

College and County Limited

(Registration number: 07987939)
Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
Mr D Gilson
Director

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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:
9-10 St Clements Street
Oxford
Oxfordshire
OX4 1AB

These financial statements were authorised for issue by the Board on 25 March 2025.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 revenue 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 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 company operates and generates taxable income.

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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

Short leasehold land and buildings

Over the life of the lease

Fixtures and fittings

15% reducing balance

Office equipment

33% straight line

Website

25% reducing balance

Motor Vehicles

5 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’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 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

5-10% straight line

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.

Dividends on equity securities are recognised in income when receivable.

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 at the transaction price.

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.

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 26 (2023 - 23).

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 August 2023

1,276,000

15,406

1,291,406

Additions acquired separately

69,997

-

69,997

Disposals

-

(5,502)

(5,502)

At 31 July 2024

1,345,997

9,904

1,355,901

Amortisation

At 1 August 2023

509,710

9,890

519,600

Amortisation charge

66,716

1,838

68,554

Amortisation eliminated on disposals

-

(4,188)

(4,188)

At 31 July 2024

576,426

7,540

583,966

Carrying amount

At 31 July 2024

769,571

2,364

771,935

At 31 July 2023

766,290

5,516

771,806

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Website
£

Office equipment
£

Cost or valuation

At 1 August 2023

35,269

31,249

24,285

107,917

Additions

-

3,346

-

11,565

Disposals

-

(14,365)

(2,335)

(96,458)

At 31 July 2024

35,269

20,230

21,950

23,024

Depreciation

At 1 August 2023

35,269

19,590

9,398

96,048

Charge for the year

-

2,057

3,722

7,592

Eliminated on disposal

-

(11,749)

(1,202)

(96,458)

At 31 July 2024

35,269

9,898

11,918

7,182

Carrying amount

At 31 July 2024

-

10,332

10,032

15,842

At 31 July 2023

-

11,659

14,887

11,869

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

8,083

206,803

Additions

-

14,911

Disposals

-

(113,158)

At 31 July 2024

8,083

108,556

Depreciation

At 1 August 2023

1,482

161,787

Charge for the year

1,617

14,988

Eliminated on disposal

-

(109,409)

At 31 July 2024

3,099

67,366

Carrying amount

At 31 July 2024

4,984

41,190

At 31 July 2023

6,601

45,016

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

6

Investments

2024
£

2023
£

Investments in subsidiaries

296,017

296,025

Subsidiaries

£

Cost or valuation

At 1 August 2023

457,039

Disposals

(161,022)

At 31 July 2024

296,017

Provision

At 1 August 2023

161,014

Eliminated on disposals

(161,014)

At 31 July 2024

-

Carrying amount

At 31 July 2024

296,017

At 31 July 2023

296,025

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

600

182,827

Amounts owed by group undertakings and undertakings in which the company has a participating interest

7,801

60,299

Prepayments

 

27,522

19,667

Other debtors

 

88,382

88,654

 

124,305

351,447

 

College and County Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

33,983

49,062

Trade creditors

 

38,129

27,939

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

3,141

Taxation and social security

 

89,096

167,444

Accruals and deferred income

 

30,763

42,255

Other creditors

 

42,673

43,177

 

234,644

333,018

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

9,076

47,936

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,076

47,936

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,983

49,062