The County Property Investment Co Ltd - Accounts to registrar (filleted)

THE COUNTY PROPERTY INVESTMENT

COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

1ST SEPTEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

S C Lousada

N Woodfine

S Woodfine

M Woodfine

REGISTERED OFFICE:

Exchange Building

16 St Cuthbert's Street

Bedford

Bedfordshire

MK40 3JJ

REGISTERED NUMBER:

00035341 (England and Wales)

ACCOUNTANTS:

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

BANKERS:

Nat West Bank plc

81 High Street

Bedford

Bedfordshire

MK40 1YN

FIXED ASSETS

Investments

4

-

Investment property

5

520,633

580,633

520,633

580,633

CURRENT ASSETS

Stocks

123,977

124,133

Debtors

6

221,854

221,225

Cash at bank

238,593

147,130

584,424

492,488

CREDITORS

Amounts falling due within one year

7

71,979

82,337

NET CURRENT ASSETS

512,445

410,151

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,033,078

990,784

PROVISIONS FOR LIABILITIES

68,168

70,180

NET ASSETS

964,910

920,604

CAPITAL AND RESERVES

Called up share capital

50,000

Fair value reserve

288,110

314,073

Retained earnings

626,800

556,531

SHAREHOLDERS' FUNDS

964,910

920,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 1st September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 1st September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th May 2025 and were signed on its behalf by:

S C Lousada - Director

1.	STATUTORY INFORMATION

The County Property Investment Company 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 Company Information page.

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 as modified by the revaluation of certain assets.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents rental income receivable and proceeds from properties held for resale, stated net of value added tax.

Investment property

Property held for investment purposes is not depreciated as required by Schedule 4 to the Companies Act 1985. In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) investment property is revalued to its open market value at the balance sheet date, with any surplus of deficit on revaluation being transferred to the revaluation reserve.

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Investments

Shares in associated undertakings and listed investments are included at cost. Profits/losses arising from the disposal of fixed asset investments are treated as part of the ordinary activities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 2nd September 2023

and 1st September 2024

20,000

PROVISIONS

At 2nd September 2023

and 1st September 2024

20,000

NET BOOK VALUE

At 1st September 2024

-

At 1st September 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 2nd September 2023

580,633

Disposals

(60,000

)

At 1st September 2024

520,633

NET BOOK VALUE

At 1st September 2024

520,633

At 1st September 2023

580,633

Fair value at 1st September 2024 is represented by:

£

Valuation in 2009

411,919

Valuation in 2013

(765

)

Valuation in 2018

100,000

Valuation in 2021

(110,576

)

Valuation in 2022

(44,300

)

Cost

164,355

520,633

If investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

164,355

196,380

Investment properties were valued on a fair value basis on 1st September 2024 by Mr S Lousada, a director of the company .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

11,666

11,577

Amounts owed by group undertakings

206,742

Amounts owed by related companies

2,600

2,060

Other debtors

180

Prepayments and accrued income

666

221,854

221,225

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

4,150

6,001

Amounts owed to related companies

29,086

26,153

Corporation tax

13,403

25,343

Directors' current accounts

23,000

22,500

Accrued expenses

2,340

71,979

82,337

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The County Property Investment Company Limited for the year ended 1st September 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The County Property Investment Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The County Property Investment Company Limited and state those matters that we have agreed to state to the Board of Directors of The County Property Investment Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The County Property Investment Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The County Property Investment Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The County Property Investment Company Limited. You consider that The County Property Investment Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The County Property Investment Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

29th May 2025