Company No: 06771958 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	28,903		60,654
Investment property	4	6,260,784		5,962,651
Investments	5	49,763		47,393
		6,339,450		6,070,698
Current assets
Debtors	6	18,319		15,362
Cash at bank and in hand		16,773		1,130
		35,092		16,492
Creditors: amounts falling due within one year	7	( 51,848)		( 127,289)
Net current liabilities		(16,756)		(110,797)
Total assets less current liabilities		6,322,694		5,959,901
Creditors: amounts falling due after more than one year	8	( 1,631,726)		( 1,643,433)
Provision for liabilities		( 857,218)		( 768,840)
Net assets		3,833,750		3,547,628
Capital and reserves
Called-up share capital	9	83		83
Profit and loss account		3,833,667		3,547,545
Total shareholder's funds		3,833,750		3,547,628

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Courtenay Group Limited (registered number: 06771958) were approved and authorised for issue by the Board of Directors on 28 August 2026. They were signed on its behalf by:

N C Davies Director

1. Accounting policies

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.

General information and basis of accounting

The Courtenay Group Limited (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 C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The principal place of business is Leveret House, Manor Park, Nailsea Wall Lane, BS48 4DD.

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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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 Statement of Financial Position date.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles	3 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Vehicles		Office equipment		Total
	£		£		£
Cost
At 01 January 2025	96,938		21,743		118,681
Additions	775		1,185		1,960
At 31 December 2025	97,713		22,928		120,641
Accumulated depreciation
At 01 January 2025	38,446		19,581		58,027
Charge for the financial year	32,549		1,162		33,711
At 31 December 2025	70,995		20,743		91,738
Net book value
At 31 December 2025	26,718		2,185		28,903
At 31 December 2024	58,492		2,162		60,654

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	5,962,651
Fair value movement	298,133
As at 31 December 2025	6,260,784

Valuation

At each reporting date, investment property is measured at fair value, with changes in fair value recognised in profit or loss. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	1
At 31 December 2025	1
Carrying value at 31 December 2025	1
Carrying value at 31 December 2024	1

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2025	47,392		47,392
Movement in fair value	2,370		2,370
At 31 December 2025	49,762		49,762
Carrying value at 31 December 2025	49,762		49,762
Carrying value at 31 December 2024	47,392		47,392

6. Debtors

	2025		2024
	£		£
Trade debtors	1,503		1,662
Amounts owed by directors	2,330		0
Other debtors	14,486		13,700
	18,319		15,362

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	44		0
Amounts owed to own subsidiaries	20,003		18,490
Amounts owed to directors	0		83,015
Accruals	2,001		2,001
Taxation and social security	11,581		4,504
Obligations under finance leases and hire purchase contracts (secured)	11,706		7,877
Other creditors	6,513		11,402
	51,848		127,289

Hire purchase liabilities are secured on the asset being purchased through the hire purchase contract.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	1,563,158		1,563,158
Obligations under finance leases and hire purchase contracts (secured)	68,568		80,275
	1,631,726		1,643,433

The bank loans are secured on all properties held by the Company by fixed and floating charges containing negative pledges. Hire purchase liabilities are secured on the asset being purchased through the hire purchase contract.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
83 Ordinary shares of £ 1.00 each	83		83

10. Related party transactions

At the year end, the director owed the company £2,330 (2024: £83,015 owed by the company to the director). Interest is charged on amounts owed to the company at a rate of 3.75% and is repayable on demand.

11. Profit and loss account

	2025		2024
	£		£
Profit and loss account - distributable	1,027,615		964,500
Profit and loss account - non - distributable	2,806,052		2,583,045
	3,833,667		3,547,545

Profit and loss account - distributable

This reserve relates to the aggregate of distributable profits and losses generated to date.

Profit and loss account - non-distributable

This reserve relates to the aggregate of fair value adjustments in respect of the investment properties, less the deferred tax charges on those fair value movements.