Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Tangible assets | 4 |
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| Investment property | 5 |
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| Investments | 6 |
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| 1,443,738 | 1,232,859 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| 344,105 | 567,407 | |||
| Creditors: amounts falling due within one year | 8 | (
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| Net current assets | 106,884 | 295,966 | ||
| Total assets less current liabilities | 1,550,622 | 1,528,825 | ||
| Creditors: amounts falling due after more than one year | 9 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of County Stores (Somerset) Holdings Ltd (registered number:
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J H Duder
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
County Stores (Somerset) Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Curry Rivel Filling Station, Honeylands, Curry Rivel, TA10 0EP, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
| Land and buildings |
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| Plant and machinery etc. |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Loans and 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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
During the year the directors have recognised an error in the disclosure of cash at bank and in hand.
The comparatives have been restated with the effect that at 31 January 2024 net assets have decreased by £73,684 from £369,650 to £295,966.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery etc. | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 February 2024 |
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| Additions |
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| At 31 January 2025 |
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| Accumulated depreciation | |||||
| At 01 February 2024 |
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| Charge for the financial year |
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| At 31 January 2025 |
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| Net book value | |||||
| At 31 January 2025 | 396,887 | 10,266 | 407,153 | ||
| At 31 January 2024 | 406,293 | 10,473 | 416,766 |
| Investment property | |
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| Valuation | |
| As at 01 February 2024 |
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| Additions | 188,053 |
| As at 31 January 2025 |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 February 2024 |
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| Additions |
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| Disposals | (
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| Movement in fair value |
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| At 31 January 2025 |
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| Carrying value at 31 January 2025 |
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| Carrying value at 31 January 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors |
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| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
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Transactions with the entity's directors
The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
J Duder
At 1 February 2024, the balance owed by the director was £32,149. During the year, £42,946 was advanced to the director and £41,174 was repaid by the director. At 31 January 2025, the balance owed by the director was £33,921.
At 1 February 2023, the balance owed by the director was £30,434. During the year, £38,689 was advanced to the director and £36,974 was repaid by the director. At 31 January 2024, the balance owed by the director was £32,149.
C Duder
At 1 February 2024, the balance owed by the director was £56,041. During the year, £53,708 was advanced to the director and £56,174 was repaid by the director. At 31 January 2025, the balance owed by the director was £53,575.
At 1 February 2023, the balance owed by the director was £39,171. During the year, £57,774 was advanced to the director and £40,904 was repaid by the director. At 31 January 2024, the balance owed by the director was £56,041.
A Duder
At 1 February 2024, the balance owed by the director was £638. During the year, £24,000 was advanced to the director and £15,000 was repaid by the director. At 31 January 2025, the balance owed by the director was £9,638.
At 1 February 2023, the balance owed by the director was £nil. During the year, £2,250 was advanced to the director and £1,612 was repaid by the director. At 31 January 2024, the balance owed by the director was £638.