Acorah Software Products - Accounts Production 16.6.920 false true true 30 April 2024 1 May 2023 false 29 October 2025 true true true true 1 May 2024 30 April 2025 30 April 2025 02007756 Mr Neil Musgrave Mrs Margaret Musgrave Mr Paul Coxhead Mr Kevin Eltringham Mr Andrew Musgrave Mrs Margaret Musgrave true true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02007756 2024-04-30 02007756 2025-04-30 02007756 2024-05-01 2025-04-30 02007756 frs-core:CurrentFinancialInstruments 2025-04-30 02007756 frs-core:BetweenOneFiveYears 2025-04-30 02007756 frs-core:MotorVehicles 2025-04-30 02007756 frs-core:MotorVehicles 2024-05-01 2025-04-30 02007756 frs-core:MotorVehicles 2024-04-30 02007756 frs-core:PlantMachinery 2025-04-30 02007756 frs-core:PlantMachinery 2024-05-01 2025-04-30 02007756 frs-core:PlantMachinery 2024-04-30 02007756 frs-core:WithinOneYear 2025-04-30 02007756 frs-core:CapitalRedemptionReserve 2025-04-30 02007756 frs-core:ShareCapital 2025-04-30 02007756 frs-core:RetainedEarningsAccumulatedLosses 2024-05-01 2025-04-30 02007756 frs-core:RetainedEarningsAccumulatedLosses 2025-04-30 02007756 frs-bus:HighestPaidDirector 2024-05-01 2025-04-30 02007756 frs-bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 02007756 frs-bus:FullAccounts 2024-05-01 2025-04-30 02007756 frs-bus:MediumEntities 2024-05-01 2025-04-30 02007756 frs-bus:Audited 2024-05-01 2025-04-30 02007756 frs-bus:Medium-sizedCompaniesRegimeForAccounts 2024-05-01 2025-04-30 02007756 frs-bus:Medium-sizedCompaniesRegimeForDirectorsReport 2024-05-01 2025-04-30 02007756 frs-bus:OrdinaryShareClass1 2024-05-01 2025-04-30 02007756 frs-bus:OrdinaryShareClass1 2025-04-30 02007756 1 2024-05-01 2025-04-30 02007756 frs-core:DeferredTaxation 2024-05-01 2025-04-30 02007756 frs-core:DeferredTaxation 2024-04-30 02007756 frs-core:DeferredTaxation 2025-04-30 02007756 frs-bus:Director1 2024-05-01 2025-04-30 02007756 frs-bus:Director2 2024-05-01 2025-04-30 02007756 frs-bus:Director3 2024-05-01 2025-04-30 02007756 frs-bus:Director4 2024-05-01 2025-04-30 02007756 frs-bus:Director5 2024-05-01 2025-04-30 02007756 frs-bus:CompanySecretary1 2024-05-01 2025-04-30 02007756 1 2024-05-01 2025-04-30 02007756 2 2024-05-01 2025-04-30 02007756 3 2024-05-01 2025-04-30 02007756 frs-countries:EnglandWales 2024-05-01 2025-04-30 02007756 frs-countries:EnglandWales 2024-05-01 2025-04-30 02007756 2023-04-30 02007756 2024-04-30 02007756 2023-05-01 2024-04-30 02007756 frs-core:CurrentFinancialInstruments 2024-04-30 02007756 frs-core:BetweenOneFiveYears 2024-04-30 02007756 frs-core:WithinOneYear 2024-04-30 02007756 frs-core:CapitalRedemptionReserve 2023-04-30 02007756 frs-core:CapitalRedemptionReserve 2024-04-30 02007756 frs-core:ShareCapital 2023-04-30 02007756 frs-core:ShareCapital 2024-04-30 02007756 frs-core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 02007756 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2023-04-30 02007756 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 02007756 frs-bus:HighestPaidDirector 2023-05-01 2024-04-30 02007756 frs-bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02007756 1 2023-05-01 2024-04-30 02007756 2 2023-05-01 2024-04-30 02007756 3 2023-05-01 2024-04-30
Registered number: 02007756
County Oil Group Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 April 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
County Oil Group Limited
Contents
Contents

| Page
--- | ---
Strategic Report | 1—2
Directors' Report | 3—4
Independent Auditor's Report | 5—8
Statement of Comprehensive Income | 9
Statement of Financial Position | 10
Statement of Changes in Equity | 11
Notes to the Financial Statements | 12—18

Page 1
County Oil Group Limited
Strategic Report
For The Year Ended 30 April 2025
Strategic Report
The directors present their strategic report for the year ended 30 April 2025.
Principal Activity
The primary activity of the business is the wholesale distribution of commercial and domestic fuel, oils and lubricants.
Review of the Business
The directors are satisfied with the results for the year, the company has traded very profitably and has achieved targets set by the board at the beginning of the year. We have long term supply contracts in place, aiding stability and forecasting and we continue to prioritise our long term loyal customer base with commercial customers at the core of our business activities. The core values of the company are based on a quality service, the company has prioritised its existing customer base whilst taking advantage of short term opportunities. Key performance indicators are described further on in this report.
Principal Risks and Uncertainties
Liquidity Risk
The company continues to hold a significant cash balance which is invested safely and profitably. There is no intention to change this policy, however, the company has transferred a significant amount of cash up to the parent company.
Credit Risk
The company operates a strict credit control policy, with credit limits set and monitored regularly by management, taking into consideration a combination of, payment history, 3rd party credit references and commercial credit insurance availability. The majority of higher value accounts are debt insured.
Competition
Fuel oil and lubricant distribution remains a highly competitive market. There are enough competitors in the market for it to be self-regulating. We are able to operate competitively utilising our experienced sales team, wet depot storage, terminal collect facilities and our owned fleet of evolving vehicles.
Major Disruption
The company’s disaster recovery plan utilises the two owned wet depots available and the network of fuel terminals available in the northwest of England and beyond. This policy is reviewed regularly.
Environmental and Regulatory Risk
The company is exposed to environmental risks due to the nature of the products that it stores, transports and delivers. The company operates in a highly regulated industry which ensures that it complies with all relevant laws and standards and has procedures and policies in place to manage this. The company operates a Quality and Environmental framework to ISO level which is annually audited and certified, this is also subject to monthly internal audits. Insurance policies are also in place to mitigate the risk of any unforeseen events.
Employee Engagement Statement
The directors positively engage with all staff involved in the business. We have developed a culture of safety that invests in our staff and provides information on matters that concerns them. Employee involvement in the company is encouraged, as an awareness of the financial and economic factors affecting the company play a significant part in its performance.
Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Company
High level customer service remains key to our core beliefs and our success in this competitive market place. We supply quality products in a timely manner that meets or surpasses our customers' expectations. This is re-enforced by our knowledgeable sales, support and delivery teams.
We actively engage with suppliers of all our products, ensuring that strong relationships are maintained. Through our management systems we ensure that high standards are maintained. Compliance is ensured with modern slavery policy, anti-bribery policy, diversity and inclusion via our supply chain.
Carbon and energy
The company utilises a combination of ISO Management systems and the Ecovardis management system to monitor and amend its carbon and energy usage. In an effort to mitigate the company’s carbon emissions and use resources more responsibly, the company has implemented or committed to the following initiatives:
• All offices and depots supplied by carbon neutral electricity supplier
• Investment in a clean, modern delivery fleet for maximum efficiency
• Supplying an increasing number of customers with HVO (hydrogenated vegetable oil) where market conditions allow
• Recycling of waste oil, metal, computer and electrical equipment
• Installation of LED lighting throughout offices and depots
• On truck computers to minimise miles travelled and paper used
• Reduce the amount of paper used during the day to day running of the business
...CONTINUED
Page 1
Page 2
County Oil Group Limited
Strategic Report (continued)
For The Year Ended 30 April 2025
Carbon and energy - continued
• Electronic storage of relevant statutory HMRC requirements
• Recycle bulk product containers
Developments and future outlook
The company has continued its aim of strengthening both its infrastructure and staff resource throughout the year and will continue to do so into the future. Further appointments will be made in a range of specific roles. This is a process that will continue with the organic growth of the company in future years.
The board accepts that the sector with innovative alternative products in which it trades, is considered a polluting but necessary one. Efforts have been made to help reduce this impact. The company has continued investment into the supply and use of renewable and sustainable fuels to meet legislated change, more specifically hydrotreated vegetable oil (HVO). The board appreciates the considerable environmental benefits with a significant reduction of greenhouse gas emissions and reduced NOx, PM and CO emissions.
Key Performance Indicators
The company has made good progress throughout the year in relation to key elements of its strategy. The board monitors the progress of the company using the following Key Performance Indicators:
• Number of orders taken
• Quantity of product delivered by location
• Debtor days and debtors ageing profile
• Creditor days and creditor ageing profile
• Gross and net profit margin per product line
• Overall balance sheet strength
Performance is measured against prior month, quarter and year for each of these measures and has been good for the current year. Management continues to monitor these KPIs on a monthly basis and any significant variance is acted upon promptly.
A summary of certain KPIs are shown below:

| 2025 |  | 2024
Debtor days (annual basis) | 38 |  | 33
Creditor days (annual basis) | 62 |  | 50
Gross profit percentage | 12.64% |  | 11.66%
Net profit percentage | 5.83% |  | 5.11%
Net assets | 3,395,959 |  | 4,816,716

On behalf of the board

Mr Neil Musgrave Director
16th October 2025

Page 2
Page 3
County Oil Group Limited
Company No. 02007756
Directors' Report For The Year Ended 30 April 2025
Directors' Report
The directors present their report and the financial statements for the year ended 30 April 2025.
Dividends
The total distribution of dividends for the year ended 30 April 2025 will be £3,492,151 (2024: £3,413,000).
Directors
The directors who held office during the year were as follows:

Mr Neil Musgrave
Mrs Margaret Musgrave
Mr Paul Coxhead
Mr Kevin Eltringham
Mr Andrew Musgrave

Matters covered in the Strategic Report
Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 3
Page 4
County Oil Group Limited
Directors' Report (continued)
For The Year Ended 30 April 2025
Independent Auditors
The auditors, Ascendis Audit Limited, are recommended for reappointment under section 485 of the Companies Act 2006.
On behalf of the board

Mr Neil Musgrave Director
16th October 2025

Page 4
Page 5
Independent Auditor's Report
to the Members of
County Oil Group Limited
Independent Auditor's Report
Opinion
We have audited the financial statements of County Oil Group Limited for the year ended 30 April 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 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.

Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:

- the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Page 5
Page 6
Independent Auditor's Report (continued)
to the Members of
County Oil Group Limited
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records or returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Page 6
Page 7
Independent Auditor's Report (continued)
to the Members of
County Oil Group Limited
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but was not limited to, the Control of Substances Hazardous to Health Regulations 2022, The Dangerous Substances and Explosive Regulations 2002, the Health & Safety at Work etc Act 1974, and the Employment Act 2022, and we considered the extent to which non-compliance might have a material effect on the financial statements.
We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as FRS102 and the Companies Act 2006.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined
that the principal risks were related to management bias in accounting estimates and judgements and in fraudulent revenue recognition.
Our procedures to respond to risks identified included the following:
• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
• assessing the extent of compliance, or lack of, with relevant laws and regulations, in particular those that are central to the ability to continue in operation;
• enquiring of management about actual and potential litigation and claims;
• performing sample testing of all sales categories and sales cut off testing;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and
• addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries;
assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in our audit procedures described above. The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 7
Page 8
Independent Auditor's Report (continued)
to the Members of
County Oil Group Limited
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor) for and on behalf of Ascendis Audit Limited , Statutory Auditor
29th October 2025
Ascendis Audit Limited Unit 3, Building 2, The Colony Altrincham Road Wilmslow Cheshire SK9 4LY

Page 8
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County Oil Group Limited
Statement of Comprehensive Income
For The Year Ended 30 April 2025
Statement of Comprehensive Income

| 2025 |  | 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER | 3 | 35,494,046 |  | 35,391,541
Cost of sales |  | (31,007,782 ) |  | (31,265,028 )
GROSS PROFIT |  | 4,486,264 |  | 4,126,513
Distribution costs |  | (371,230 ) |  | (334,175 )
Administrative expenses |  | (1,561,531 ) |  | (1,634,161 )
OPERATING PROFIT | 4 | 2,553,503 |  | 2,158,177
Profit on disposal of fixed assets |  | 2,587 |  | -
Other interest receivable and similar income | 9 | 213,932 |  | 151,709
Interest payable and similar charges |  | - |  | (122 )
PROFIT BEFORE TAXATION |  | 2,770,022 |  | 2,309,764
Tax on Profit | 10 | (698,628 ) |  | (500,454 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR |  | 2,071,394 |  | 1,809,310
OTHER COMPREHENSIVE INCOME FOR THE YEAR |  | - |  | -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |  | 2,071,394 |  | 1,809,310

The notes on pages 12 to 18 form part of these financial statements.
Page 9
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County Oil Group Limited
Statement of Financial Position
As At 30 April 2025
Statement of Financial Position
Registered number: 02007756

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 11 |  | 814,027 |  | 814,167
|  |  | 814,027 |  | 814,167
CURRENT ASSETS
Stocks | 12 | 339,261 |  | 249,476 |
Debtors | 13 | 5,281,306 |  | 3,891,702 |
Cash at bank and in hand |  | 3,012,280 |  | 4,626,382 |
|  | 8,632,847 |  | 8,767,560 |
Creditors: Amounts Falling Due Within One Year | 14 | (5,857,529 ) |  | (4,572,662 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 2,775,318 |  | 4,194,898
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 3,589,345 |  | 5,009,065
PROVISIONS FOR LIABILITIES
Deferred Taxation | 16 |  | (193,386 ) |  | (192,349 )
NET ASSETS |  |  | 3,395,959 |  | 4,816,716
CAPITAL AND RESERVES
Called up share capital | 18 |  | 6,020 |  | 6,020
Capital redemption reserve |  |  | 3,010 |  | 3,010
Income Statement |  |  | 3,386,929 |  | 4,807,686
SHAREHOLDERS' FUNDS |  |  | 3,395,959 |  | 4,816,716

On behalf of the board

Mr Neil Musgrave Director
16th October 2025

The notes on pages 12 to 18 form part of these financial statements.
Page 10
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County Oil Group Limited
Statement of Changes in Equity
For The Year Ended 30 April 2025
Statement of Changes in Equity

| Share Capital | Capital Redemption | Income Statement | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
As at 1 May 2023 | 6,020 | 3,010 | 6,411,376 | 6,420,406
Profit for the year and total comprehensive income | - | - | 1,809,310 | 1,809,310
Dividends paid | - | - | (3,413,000) | (3,413,000)
As at 30 April 2024 and 1 May 2024 | 6,020 | 3,010 | 4,807,686 | 4,816,716
Profit for the year and total comprehensive income | - | - | 2,071,394 | 2,071,394
Dividends paid | - | - | (3,492,151) | (3,492,151)
As at 30 April 2025 | 6,020 | 3,010 | 3,386,929 | 3,395,959

Page 11
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County Oil Group Limited
Notes to the Financial Statements
For The Year Ended 30 April 2025
Notes to the Financial Statements
1. General Information
County Oil Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02007756 . The registered office is Beca House, Ashville Way, Sutton Weaver, Runcorn, Cheshire, WA7 3EZ. There is no single principal place of business.
The presentational currency of the financial statements is Pound Sterling (£).
Amounts in these financial statements are rounded to the nearest £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
- the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

2.3. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.4. Significant judgements and estimations
In the application of the company's accounting policies, the directors are required to make estimates and judgements.
The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:-
Estimating the useful economic life of an asset and the anticipated residual value are considered key in calculating an appropriate depreciation charge.
2.5. Turnover
Turnover represents the aggregate of the fair value of goods, net of value added tax, rebates and discounts. Turnover from the sale of goods is recognised when the customer collects or the company has delivered goods to the customer and collection of the related receivables is anticipated.
2.6. Research and Development
Expenditure on research and development is written off in the year in which it is incurred.
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County Oil Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
2.7. 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:

Plant & Machinery | 10% per annum on reducing balance basis
Motor Vehicles | 25% per annum on reducing balance basis

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.
2.8. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Comprehensive Income as incurred.
2.9. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Net realisable value is estimated selling price less costs to complete and sell.
The cost comprises of actual purchase price.
2.10. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.11. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilites such as trade and other accounts receivable and payable and related party loans.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, any impairment loss is recognised in the Statement of Comprehensive Income.
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.
2.12. Interest Receivable
Interest receivable is accounted for on an accruals basis.
2.13. Taxation
Income tax expense represents the sum of corporation tax and deferred tax.
Corporation tax 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 the Statement of Comprehensive Income, except when they relate to items that are recognised directly in equity, in which case, the current and deferred tax is also recognised directly in equity respectively.
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County Oil Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
2.14. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the Statement of Comprehensive Income as they become payable in accordance with the rules of the scheme.
2.15. Dividends
Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
3. Turnover
The turnover and profit before taxation are attributable to the one principal activity of the company.
All turnover has been generated within the United Kingdom.
4. Operating Profit
The operating profit is stated after charging:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bad debts | 7,584 |  | -
Depreciation of tangible fixed assets | 197,586 |  | 163,258

5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the company's financial statements | 15,000 |  | 17,000

6. Staff Costs
Staff costs, including directors' remuneration, were as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Wages and salaries | 873,398 |  | 886,050
Social security costs | 97,436 |  | 90,020
Other pension costs | 156,008 |  | 187,416
| 1,126,842 |  | 1,163,486

7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
Directors | 3 |  | 3
Drivers | 7 |  | 5
Administrative | 10 |  | 11
| 20 |  | 19

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County Oil Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
8. Directors' remuneration

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 324,975 |  | 359,969
Company contributions to money purchase pension schemes | 145,500 |  | 177,500
| 470,475 |  | 537,469

The number of directors to whom retirement benefits were accruing was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
Money purchase pension schemes | 3 |  | 4

Information regarding the highest paid director was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Emoluments | 106,567 |  | 123,144
Company contributions to money purchase pension schemes | 50,500 |  | 32,500
| 157,067 |  | 155,644

9. Interest Receivable and Similar Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Bank interest receivable | 207,902 |  | 94,704
Other interest receivable from HMRC | 6,030 |  | 57,005
| 213,932 |  | 151,709

10. Tax on Profit

The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 |  | 2024
--- | --- | --- | --- | ---
| 2025 | 2024 | £ |  | £
Current tax
UK Corporation Tax | 25.0% | 25.0% | 697,591 |  | 464,114
Prior period adjustment | - |  | (19,580 )
| 697,591 |  | 444,534
Deferred Tax
Deferred taxation | 1,037 |  | 55,920
Total tax charge for the period | 698,628 |  | 500,454
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 |  | 2024
| £ |  | £
Profit before tax | 2,770,022 |  | 2,309,764
Tax on profit at 25% (UK standard rate) | 692,506 |  | 577,441

...CONTINUED
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County Oil Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025

Goodwill/depreciation not allowed for tax | 48,750 |  | 40,814
Expenses not deductible for tax purposes | 6,571 |  | 9,942
Capital allowances | (50,081 ) |  | (96,602 )
Short term timing differences | 295 |  | (132 )
Research and Development tax credit | - |  | (67,349 )
Prior period adjustment | - |  | (19,580 )
Deferred tax from unrecognised tax loss or credit | 1,037 |  | 55,920
Group relief | (450 ) |  | -
Total tax charge for the period | 698,628 |  | 500,454

11. Tangible Assets

| Plant & Machinery | Motor Vehicles | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 May 2024 | 607,523 | 1,486,404 | 2,093,927
Additions | 38,537 | 159,322 | 197,859
Disposals | - | (15,485 ) | (15,485 )
As at 30 April 2025 | 646,060 | 1,630,241 | 2,276,301
Depreciation
As at 1 May 2024 | 522,093 | 757,667 | 1,279,760
Provided during the period | 9,666 | 187,920 | 197,586
Disposals | - | (15,072 ) | (15,072 )
As at 30 April 2025 | 531,759 | 930,515 | 1,462,274
Net Book Value
As at 30 April 2025 | 114,301 | 699,726 | 814,027
As at 1 May 2024 | 85,430 | 728,737 | 814,167

12. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 339,261 |  | 249,476

There were no stock provisions at either 30 April 2025 or 30 April 2024.
13. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 3,683,215 |  | 3,165,358
Amounts owed by group undertakings | 400,893 |  | 215,263
Other debtors | 1,197,198 |  | 511,081
| 5,281,306 |  | 3,891,702

There were no bad debt provisions at either 30 April 2025 or 30 April 2024. Bad debts wrtten off in the year are shown in note 4.
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County Oil Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
14. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 5,248,287 |  | 4,258,834
Other creditors | 94,448 |  | 61,057
Corporation tax | 459,504 |  | 132,114
Taxation and social security | 19,584 |  | 19,367
Accruals and deferred income | 35,706 |  | 101,290
| 5,857,529 |  | 4,572,662

16. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 193,386 |  | 192,349

17. Provisions for Liabilities

| Deferred Tax | Total
--- | --- | ---
| £ | £
As at 1 May 2024 | 192,349 | 192,349
Additions | 1,037 | 1,037
Balance at 30 April 2025 | 193,386 | 193,386

The analysis of deferred tax is shown below:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | 193,854 |  | 192,523
Short term timing differences | (468) |  | (174)
Total | 193,386 |  | 192,349

18. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
6,020 Ordinary Shares of £ 1.00 each | 6,020 |  | 6,020

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County Oil Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
19. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 16,462 |  | 660
Later than one year and not later than five years | 660 |  | 1,320
| 17,122 |  | 1,980

20. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the income statement in respect of defined contribution schemes was £156,008 (2024: £187,416).
At the statement of financial position date contributions of £8,369 (2024: £5,620) were due to the fund and are included in creditors.
21. Dividends

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
On equity shares:
Interim dividend paid | 3,492,151 |  | 3,413,000

22. Reserves
Capital redemption reserve - this non-distributable reserve represents the nominal value of the purchase of own shares by the company out of distributable profits.
Income statement - this reserve represents the accumulated profits and losses, less distributions, of the company.
23. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
At the reporting date a net amount of £400,893 (2024: £215,263) was owed by group companies.
Included within trade debtors is an amount of £nil (2024: £79) due from the directors.
24. Controlling Parties
The company's immediate and ultimate parent undertaking is County Oil Holdings Limited . County Oil Holdings Limited is incorporated in England & Wales. Copies of the group accounts can be obtained from the parent company's registered office, Beca House, Ashville Way, Sutton Weaver, Runcorn, WA7 3EZ.
The company's ultimate controlling parties are Neil Musgrave and Margaret Musgrave by virtue of their control of the ultimate parent company.
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