District and County Investments Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—8

1. General Information

District and County Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05120263 . The registered office is 42 Duke Street, Formby, Liverpool, Merseyside, L37 4AT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These 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'.

Basis of consolidation

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 399 of the Companies Act 2006, the company is exempt from the requirements to prepare consolidated financial statements.

2.2. Going Concern Disclosure

The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Revenue, derived from ordinary activities and excluding VAT where applicable, comprises interest and arrangement fee income in relation to bridging loans issued, measured at amortised cost and recognised as they become due.

Rental income receivable from investment properties is recognised on an accruals basis.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	N/A
Leasehold	N/A / 25% Straight line
Plant and machinery	25% Straight line
Fixtures and fittings	25% Straight line
Computer equipment	25% Straight line

2.5. Investment Properties

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.6. Financial Instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Page 2

Page 3

District and County Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Investment in subsidiaries

Investments in subsidiaries are held at cost less accumulated impairment losses.

Page 3

Page 4

District and County Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2024	2023
Office and administration	9	6

	9	6

4. Tangible Assets

	Land & Property
	Leasehold	Plant and machinery	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£
Cost or Valuation
As at 1 January 2024	82,505	-	14,705	22,109	119,319
Additions	4,654	691	1,064	8,988	15,397

As at 31 December 2024	87,159	691	15,769	31,097	134,716

Depreciation
As at 1 January 2024	-	-	2,445	12,051	14,496
Provided during the period	3,317	103	3,933	8,265	15,618

As at 31 December 2024	3,317	103	6,378	20,316	30,114

Net Book Value
As at 31 December 2024	83,842	588	9,391	10,781	104,602

As at 1 January 2024	82,505	-	12,260	10,058	104,823

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	6,567,870
Depreciation and impairment	(16,967 )

As at 31 December 2024	6,550,903

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2024	2023
	£	£
Cost	6,447,107	6,447,107
Accumulated depreciation and impairment	16,967	-

Carrying amount	6,430,140	6,447,107

The directors have valued the investment properties on an open market basis as at the reporting date, which they consider accurately reflects their fair value.

Page 4

Page 5

District and County Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Unlisted
	£
Cost
As at 1 January 2024	104,710

As at 31 December 2024	104,710

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	104,710

As at 1 January 2024	104,710

The company owns 100% ordinary share capital of the following companies:

DCI 2 Limited - a company registered in England and Wales. DCI 2 Limited registered office is 42 Duke Street, Formby, Liverpool, Merseyside, England, L37 4AT.

DCI 3 Limited - a company registered in England and Wales. DCI 3 Limited registered office is 42 Duke Street, Formby, Liverpool, Merseyside, England, L37 4AT.

DCI 4 Limited - a company registered in England and Wales. DCI 4 Limited registered office is 42 Duke Street, Formby, Liverpool, Merseyside, England, L37 4AT.

DCI 5 Limited - a company registered in England and Wales. DCI 5 Limited registered office is 42 Duke Street, Formby, Liverpool, Merseyside, England, L37 4AT.

Appleoak Limited - a company registered in Gibraltar. Appleoak Limited registered office is No. 1 Grand Ocean Plaza, Ocean Village, Gibraltar, GX11 1AA.

District and County Developments Limited - a company registered in England and Wales. District and County Developments Limited registered office is 42 Duke Street, Formby, Liverpool, Merseyside, England, L37 4AT.

DCI 2 Limited financial information for period ended 31 December 2024:

	2024	2023
	£	£
Capital and reserves	1,920,042	1,106,073
Profit for the period	813,969	768,256

...CONTINUED

Page 5

Page 6

District and County Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments - continued

DCI 3 Limited financial information for period ended 31 December 2024:

	2024	2023
	£	£
Capital and reserves	775,025	307,836
Profit for the period	467,189	307,736

DCI 4 Limited financial information for period ended 31 December 2024:

	2024	2023
	£	£
Capital and reserves	(2,627,251)	(560,479)
Profit for the period	(2,066,772)	(560,579)

DCI 5 Limited financial information for period ended 31 December 2024:

	2024	2023
	£	£
Capital and reserves	(54,118)	(2,811)
Profit for the period	(51,307)	(2,911)

Appleoak Limited financial information for period ended 31 December 2024:

	2024	2023
	£	£
Capital and reserves	351,280	163,983
Profit for the period	187,297	(33,354)

District and County Developments Limited financial information for period ended 31 December 2024:

	2024	2023
	£	£
Capital and reserves	(5,244)	-
Profit for the period	(5,245)	-

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	13,859	1,560
Prepayments and accrued income	19,910	16,458
Other debtors	44,917	63,789
Deferred tax current asset	22,435	45,934
Amounts owed by group undertakings	15,221,503	8,278,691

	15,322,624	8,406,432

Amounts owed from group undertakings are interest free and repayable on demand.

Page 6

Page 7

District and County Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	19,567	10,618
Other taxes and social security	16,556	13,166
Other creditors	28,845	86,313
Accruals and deferred income	27,536	102,721
Amounts owed to group undertakings	19,568,998	12,096,217

	19,661,502	12,309,035

Amounts owed to group undertakings are interest free and payable on demand.

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

10. Pension Commitments

The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,052 (2023: £1,908) were due to the fund. They are included in Other Creditors.

11. Directors Advances, Credits and Guarantees

No directors received advances, credits or guarantees during the current or prior periods.

12. Related Party Transactions

The following related party transactions were undertaken during the year:

The company has taken advantage of the exemption available under Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.

The company has acted as guarantor on behalf of DCI 2 Limited, a wholly owned subsidiary, in respect of the loan received from Shawbrook Bank Limited of £4,639,986. This loan is secured against the property and assets of the company.

The company has acted as guarantor on behalf of DCI 3 Limited, a wholly owned subsidiary, in respect of the loan received from Red Sands Insurance Company (Europe) Limited of £3,265,895. This loan is secured against the property and assets of the company.

The company has acted as guarantor on behalf of DCI 4 Limited, a wholly owned subsidiary, in respect of the loan received from MHD Investments Limited of £27,907,844. This loan is secured against the property and assets of the company.

The company has acted as guarantor on behalf of DCI 5 Limited, a wholly owned subsidiary, in respect of the loan received from Oakmore Investments Limited of £2,090,528. This loan is secured against the property and assets of the company.

A director incurred expenses on behalf of the company totalling £261. The trade creditor payable to the director at the period end totalled £261.

No dividends were paid to the directors in respect of their shareholdings in the current or prior periods.

The aggregate remuneration paid to key management personnel for the year was £151,000 (2023: £131,000).

No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

13. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14. Controlling Party

In the directors' opinion there is no ultimate controlling party.

Page 7

Page 8

District and County Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

15. Audit Information

The auditor's report on the accounts of District and County Investments Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Mark Wrigglesworth (Senior Statutory Auditor) for and on behalf of ERC Accountants and Business Advisers Ltd , Statutory Auditor.

ERC Accountants and Business Advisers Ltd

Chartered Accountants

Hanover Buildings, 11 - 13 Hanover Street

Liverpool

Merseyside

L1 3DN

Page 8

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		104,602		104,823
Investment Properties	5		6,550,903		6,567,870
Investments	6		104,710		104,710

			6,760,215		6,777,403
CURRENT ASSETS
Debtors	7	15,322,624		8,406,432
Cash at bank and in hand		709,916		499,256

		16,032,540		8,905,688
Creditors: Amounts Falling Due Within One Year	8	(19,661,502 )		(12,309,035 )

NET CURRENT ASSETS (LIABILITIES)			(3,628,962 )		(3,403,347 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,131,253		3,374,056

NET ASSETS			3,131,253		3,374,056

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			3,131,153		3,373,956

SHAREHOLDERS' FUNDS			3,131,253		3,374,056