THE COUNTRY RANGE GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE COUNTRY RANGE GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
THE COUNTRY RANGE GROUP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
330,766
330,766
Investments
5
102
102
330,868
330,868
Current assets
Debtors
6
3,083,860
2,461,719
Cash at bank and in hand
1,897,573
2,127,065
4,981,433
4,588,784
Creditors: amounts falling due within one year
7
(5,208,068)
(4,907,891)
Net current liabilities
(226,635)
(319,107)
Net assets
104,233
11,761
Capital and reserves
Called up share capital
8
900
900
Profit and loss reserves
103,333
10,861
Total equity
104,233
11,761
The notes on pages pages 2 to 6 form an integral part of these 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
M.J. Ward
Director
Company registration number 02985881 (England and Wales)
THE COUNTRY RANGE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
The Country Range Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 & 5 Jupiter House, Mercury Rise, Altham Business Park, Altham, Accrington, Lancashire, BB5 5BY.
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 on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and can be reliably measured. Turnover is stated net of VAT and discounts and consists of contributions from suppliers towards advertising and overhead costs; membership fees; income from the sale of member data; and supplier contributions to our promotional events.
The company acts as an agent for the purchase of own label and certain proprietary brands and accordingly the revenue and corresponding expenditure in respect of overriders and retrospective rebates is not included in these financial statements.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25 % straight line basis
Company policy is to maintain the leasehold property to a high standard by a continued programme of refurbishment and maintenance. The original cost compared with the residual value of leasehold property is such that the depreciable amount is considered to be nil.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
THE COUNTRY RANGE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
A financial instrument is a contract giving rise to a financial asset (such as trade and other debtors, cash and bank balances) or a financial liability (such as trade and other creditors, bank and other loans, hire purchase and lease creditors) or an equity instrument (such as ordinary or preference shares).
Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.
All the company's financial instruments are basic financial instruments and are recognised at amortised cost using the effective interest method.
Amortised cost: the original transaction value, less amounts settled, less any adjustment for impairment.
Effective interest method: where a financial instrument falls due more than 12 months after the balance sheet date and is subject to a rate of interest which is below a market rate, the original transaction value is discounted using a market rate of interest to give the net present value of future cash flows.
Derecognition of financial assets
Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.
Financial liabilities cease to be recognised when and only when the company's obligations are discharged, cancelled, or they expire.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group under section 383 of the Companies Act 2006. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
THE COUNTRY RANGE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
26
25
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
30,824
28,422
4
Tangible fixed assets
Land and buildings Leasehold
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
330,766
31,732
362,498
Depreciation and impairment
At 1 January 2024 and 31 December 2024
31,732
31,732
Carrying amount
At 31 December 2024
330,766
330,766
At 31 December 2023
330,766
330,766
5
Fixed asset investments
2024
2023
£
£
Investments
102
102
THE COUNTRY RANGE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost
At 1 January 2024 & 31 December 2024
102
Carrying amount
At 31 December 2024
102
At 31 December 2023
102
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,853,780
2,368,137
Amounts owed by group undertakings
648
548
Other debtors
6,120
3,000
Prepayments and accrued income
223,312
90,034
3,083,860
2,461,719
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
142,246
213,904
Amounts due to subsidiary undertakings
3,425
3,425
Corporation tax
30,824
28,431
Other taxation and social security
1,013,332
913,667
Other creditors
774,922
850,785
Accruals
172,873
159,641
Annual surplus
3,070,446
2,738,038
5,208,068
4,907,891
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Founder Member Shares of £1 each
200
200
200
200
Full Member Shares of £1 each
700
700
700
700
900
900
900
900
THE COUNTRY RANGE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its 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.
Senior Statutory Auditor:
James Lye BA(Hons) FCA
Statutory Auditor:
Ashworth Moulds
Date of audit report:
20 May 2025