Company registration number 08983864 (England and Wales)
Country Properties (Knebworth) Limited
Unaudited Financial Statements
For the year ended 31 March 2025
PAGES FOR FILING WITH REGISTRAR
Country Properties (Knebworth) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Country Properties (Knebworth) Limited
Balance Sheet
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,312
8,125
Tangible assets
4
14
7,312
8,139
Current assets
Debtors
5
12,428
26,276
Cash at bank and in hand
503
12,428
26,779
Creditors: amounts falling due within one year
6
(15,973)
(34,854)
Net current liabilities
(3,545)
(8,075)
Net assets
3,767
64
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
3,764
61
Total equity
3,767
64
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 12 May 2025
Mr A Cox
Director
Company registration number 08983864 (England and Wales)
Country Properties (Knebworth) Limited
Notes to the Financial Statements
For the year ended 31 March 2025
- 2 -
1
Accounting policies
Company information
Country Properties (Knebworth) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Herts, AL1 1LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line
Computers
33.33% straight line
Country Properties (Knebworth) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
2
Country Properties (Knebworth) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
16,250
Amortisation and impairment
At 1 April 2024
8,125
Amortisation charged for the year
813
At 31 March 2025
8,938
Carrying amount
At 31 March 2025
7,312
At 31 March 2024
8,125
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2024
501
91
592
Disposals
(501)
(91)
(592)
At 31 March 2025
Depreciation and impairment
At 1 April 2024
496
82
578
Eliminated in respect of disposals
(496)
(82)
(578)
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
5
9
14
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
12,428
26,276
Country Properties (Knebworth) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
9,100
Taxation and social security
10,616
20,074
Other creditors
5,357
5,680
15,973
34,854
7
Related party transactions
The following amounts were outstanding at the reporting end date:
2025
2024
Amounts due from related parties
£
£
Mr A Cox
12,428
12,701