| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| FOR |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| FOR |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Hillside |
| Albion Street |
| Chipping Norton |
| Oxfordshire |
| OX7 5BH |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| BALANCE SHEET |
| 30 APRIL 2025 |
| 30.4.25 | 30.4.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Revaluation reserve | 13 |
| Retained earnings | 13 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| BALANCE SHEET - continued |
| 30 APRIL 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 1. | STATUTORY INFORMATION |
| Countrywide Storage Chipping Norton Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis on the understanding that the company has received assurances of support from its directors in that they will not seek repayment of their loans to the company in preference to other creditors. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Countrywide Storage Chipping Norton Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of 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. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Freehold property is depreciated over its estimated useful life of 50 years, however in the opinion of the directors the residual value of the freehold property after 50 years is not materially different to the current value, and therefore no depreciation has been provided. The directors undergo annual impairment reviews to confirm that this continues to be the case. |
| Freehold property is stated at market value as estimated by a Chartered Surveyor. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| Cost or valuation at 30 April 2025 is represented by: |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| Valuation in 2020 | 339,663 | - | - |
| Valuation in 2021 | 1,060,084 | - | - |
| Valuation in 2024 | 393,842 | - | - |
| Cost | 2,206,411 | 105,592 | 94,150 |
| 4,000,000 | 105,592 | 94,150 |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Valuation in 2020 | - | - | 339,663 |
| Valuation in 2021 | - | - | 1,060,084 |
| Valuation in 2024 | - | - | 393,842 |
| Cost | 15,995 | 10,024 | 2,432,172 |
| 15,995 | 10,024 | 4,225,761 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Cost | 2,206,410 | 2,206,410 |
| Freehold land and buildings were valued on an open market basis on 31 March 2025 by the directors . |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST OR VALUATION |
| At 1 May 2024 |
| and 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | in joint |
| undertakings | venture | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2024 | 300,100 |
| Additions | 600,070 |
| At 30 April 2025 | 900,170 |
| NET BOOK VALUE |
| At 30 April 2025 | 900,170 |
| At 30 April 2024 | 300,100 |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | - | 409 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 19,054 | 16,600 |
| Customer deposits |
| Loan from Workham European |
| Property Limited | 1,328,776 | 1,350,364 |
| Directors' current accounts | 209 | 535 |
| Deferred income |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Bank loans (see note 9) |
| Other loans (see note 9) |
| Hire purchase contracts |
| Shareholder loans | 500,000 | 500,000 |
| The shareholder loans are unsecured and interest free. They are repayable in the event of the sale of the whole of the freehold property. |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 9. | LOANS - continued |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Other loans - 1-2 years | 2,030,000 |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Other loans |
| Workham European Property Ltd | 1,328,776 | - |
| At the balance sheet date an amount totalling £1,328,776 (2024: £1,350,364) was owed to Workham European Property Limited. This facility is secured by way of a debentures dated 25 March 2019 and 12 May 2022 with a fixed and floating charges over freehold property and undertakings of the company. Interest is charged on the outstanding balance at 8.5% per annum. |
| At the balance sheet date an amount totalling £1.5m was owed to C Hoare & Co bank. The loan is secured by way of a legal charge over freehold land & property at Banbury Road, Chipping Norton and by way of a directors guarantee of £1.6m. The charge is dated 19 August 2021. |
| A further charge was registered by Oaknorth Bank plc as Security Trustee for the Secured Parties dated 16 January 2025. |
| 11. | PROVISIONS FOR LIABILITIES |
| 30.4.25 | 30.4.24 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Tax losses carried forward | ( |
) |
| Other timing differences | 448,405 | 448,405 |
| 473,044 | 477,275 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2024 |
| Provided during year | ( |
) |
| Deferred tax on losses | 1,014 |
| Balance at 30 April 2025 |
| COUNTRYWIDE STORAGE CHIPPING NORTON |
| LIMITED (REGISTERED NUMBER: 11749880) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.4.25 | 30.4.24 |
| value: | £ | £ |
| Ordinary A | £1 | 50 | 50 |
| Ordinary B | £1 | 50 | 50 |
| 100 | 100 |
| 13. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 May 2024 | 1,461,720 |
| Profit for the year |
| At 30 April 2025 | 1,569,125 |