Country Refreshments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC297328

Country Refreshments Limited

Filleted Unaudited Abridged Financial Statements

For the year ended

28 February 2025

Country Refreshments Limited

Abridged Financial Statements

Year ended 28 February 2025

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Country Refreshments Limited

Abridged Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	4,800	7,200
Tangible assets	6	115,040	80,916
		---------	--------
		119,840	88,116

Current assets

Stocks	18,000	30,106
Debtors	899	41,366
Cash at bank and in hand	13,020	28,015
	--------	--------
	31,919	99,487

Creditors: amounts falling due within one year	136,721	186,571
	---------	---------
Net current liabilities	104,802	87,084
	---------	--------
Total assets less current liabilities	15,038	1,032
	--------	-------

Country Refreshments Limited

Abridged Statement of Financial Position (continued)

28 February 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	14,938	932
	--------	-------
Shareholder funds	15,038	1,032
	--------	-------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 12 August 2025 , and are signed on behalf of the board by:

Mr G Thomson
Director

Company registration number: SC297328

Country Refreshments Limited

Notes to the Abridged Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 1, South Faulds Road, Caldwellside Industrial Estate, ML11 7SR, Lanark.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the company's ability to continue. The directors have taken steps to ensure there are sufficient funds to meet the company's working capital requirement for the foreseeable future, and still consider the going concern approach to be appropriate. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised at the point of sale. Revenue from the rendering of services is recognised at the point the service is provided. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Chip shop fixtures and fittings	-	15% reducing balance
Motor vehicles	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plans

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 7 ).

5. Intangible assets

	£
Cost
At 1 March 2024 and 28 February 2025	48,000
	--------
Amortisation
At 1 March 2024	40,800
Charge for the year	2,400
	--------
At 28 February 2025	43,200
	--------
Carrying amount
At 28 February 2025	4,800
	--------
At 29 February 2024	7,200
	--------

6. Tangible assets

	£
Cost
At 1 March 2024	385,113
Additions	52,950
	---------
At 28 February 2025	438,063
	---------
Depreciation
At 1 March 2024	304,197
Charge for the year	18,826
	---------
At 28 February 2025	323,023
	---------
Carrying amount
At 28 February 2025	115,040
	---------
At 29 February 2024	80,916
	---------

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	–	4,308
	----	-------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr G Thomson	36,328	63,027	( 100,082)	( 727)
	--------	--------	---------	----

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr G Thomson	38,327	55,631	( 57,630)	36,328
	--------	--------	--------	--------

The loan is repayable on demand and interest has been charged.