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Registration number: 07076210

County Brook Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

County Brook Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

County Brook Limited

Company Information

Directors

Mr A B Mitchell

Mr L J Mitchell

Registered office

County Brook Mill
Foulridge
Colne
Lancashire
BB8 7LT

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
County Brook Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of County Brook Limited for the year ended 31 August 2024 as set out on pages 3 to 10 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that County Brook Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of County Brook Limited. You consider that County Brook 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 accounts of County Brook 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 accounts.

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

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

28 May 2025

 

County Brook Limited

(Registration number: 07076210)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,410,000

496,889

Investments

5

480,000

480,000

 

2,890,000

976,889

Current assets

 

Debtors

6

873

873

Creditors: Amounts falling due within one year

7

(13,422)

(7,390)

Net current liabilities

 

(12,549)

(6,517)

Total assets less current liabilities

 

2,877,451

970,372

Creditors: Amounts falling due after more than one year

7

(157,214)

(155,696)

Provisions for liabilities

(357,847)

-

Net assets

 

2,362,390

814,676

Capital and reserves

 

Called up share capital

480,000

480,000

Revaluation reserve

1,555,264

-

Retained earnings

327,126

334,676

Shareholders' funds

 

2,362,390

814,676

 

County Brook Limited

(Registration number: 07076210)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
Mr L J Mitchell
Director

 

County Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
County Brook Mill
Foulridge
Colne
Lancashire
BB8 7LT

These financial statements were authorised for issue by the Board on 28 May 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.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises 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.

 

County Brook Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and impairment losses, except where revalued.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition.

Land and buildings held and used in the company's activities are stated at the balance sheet date at their revalued amount. The revalued amount equates to the fair valuation at the revaluation date, less any depreciation and impairment losses subsequently accumulated. Any surplus on revaluation is taken directly to the revaluation reserve through the statement of comprehensive income.

Depreciation

Depreciation on revalued property is charged to the profit and loss account so as to write off the revalued amount, less residual value, over the remaining estimated useful life of the property from the date of valuation using the straight line method.

Asset class

Depreciation method and rate

Freehold buildings

2% straightline

Leasehold buildings

2% straightline

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

County Brook Limited

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

Trade 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.

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

 

County Brook Limited

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

4

Tangible assets

Land and buildings
£

Total
£

Valuation

At 1 September 2023

620,765

620,765

Revaluations

1,789,235

1,789,235

At 31 August 2024

2,410,000

2,410,000

Depreciation

At 1 September 2023

123,876

123,876

Revaluation adjustment in year

(123,876)

(123,876)

At 31 August 2024

-

-

Carrying amount

At 31 August 2024

2,410,000

2,410,000

At 31 August 2023

496,889

496,889

Included within the net book value of land and buildings above is £860,000 (2023 - £180,646) in respect of freehold land and buildings and £1,550,000 (2023 - £316,243) in respect of long leasehold land and buildings.
 

Revaluation

Freehold property was revalued on 31 August 2024 by the directors.

Leasehold property was revalued on 31 August 2024 by the directors based upon an open market valuation undertaken on 16 February 2025 by Whiteacres Property, who are independent of the company and provide valuation services in respect of commercial property in the North West of England.

If the freehold property and leasehold properties were included in the balance sheet on a historical cost basis then the carrying value would be £487,714 (2023 - £496,889).

 

County Brook Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

480,000

480,000

Subsidiaries

£

Cost or valuation

At 1 September 2023

480,000

Provision

Carrying amount

At 31 August 2024

480,000

At 31 August 2023

480,000

6

Debtors

2024
£

2023
£

Prepayments

873

873

873

873

 

County Brook Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

465

Accruals and deferred income

13,422

6,925

13,422

7,390

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

100,000

100,000

Other non-current financial liabilities

 

57,214

55,696

 

157,214

155,696

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

100,000

100,000

Other creditors relates to a £100,000 loan which is secured by a charge over the company's freehold property.