Town & County Investment Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00553128 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2024 to 31 March 2025

for

TOWN AND COUNTY INVESTMENT COMPANY

LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr T Q Leigh

REGISTERED OFFICE:

172 Greenford Road

Harrow

Middlesex

HA1 3QZ

REGISTERED NUMBER:

00553128 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

5th Floor

Palladium House

1-4 Argyll Street

London

W1F 7TA

FIXED ASSETS

Property, plant and equipment

5

70,457

40,457

CURRENT ASSETS

Debtors

6

616,641

400,598

CREDITORS

Amounts falling due within one year

7

(11,859

)

(11,161

)

NET CURRENT ASSETS

604,782

389,437

TOTAL ASSETS LESS CURRENT
LIABILITIES

675,239

429,894

CAPITAL AND RESERVES

Called up share capital

9

405

300

Share premium

253,645

-

Retained earnings

421,189

429,594

SHAREHOLDERS' FUNDS

675,239

429,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2025 and were signed by:

Mr T Q Leigh - Director

1.	STATUTORY INFORMATION

Town and County Investment Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents total rent receivable for the period.

Financial instruments

Basic financial assets

Other debtors and amounts owed by related undertakings are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Taxation

Taxation for the period 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 or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Investment properties

Freehold investment properties are stated at cost less provision, where necessary, for permanent diminution in value. This is not in accordance with FRS102 1A which requires investment properties to be carried at fair value. No fair value exercise has been carried out and as such it is not possible to quantify the effect on the net assets at the current or previous balance sheet date or the effect on the statement of comprehensive income for the current or previous period.

No depreciation has been provided in respect of freehold investment properties. This is not in accordance with the Companies Act 2006 or FRS102 1A which require tangible fixed assets to be depreciated over their estimated useful lives and is necessary to show a true and fair view. Depreciation is only one of many factors reflected in the value of investment properties and the amount which might otherwise have been shown cannot be separately identified or quantified.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Investment

and

properties

fittings

Totals

£

COST

At 1 October 2024

40,457

1,943

42,400

Additions

30,000

-

30,000

At 31 March 2025

70,457

1,943

72,400

DEPRECIATION

At 1 October 2024

and 31 March 2025

-

1,943

NET BOOK VALUE

At 31 March 2025

70,457

-

70,457

At 30 September 2024

40,457

-

40,457

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed by related undertakings

1,802

Other debtors

612,562

396,519

Prepayments and accrued income

2,277

616,641

400,598

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Corporation tax

4,841

4,143

Other creditors

596

Directors' current accounts

5,222

Accruals

1,200

11,859

11,161

8.	FINANCIAL INSTRUMENTS

The company has the following financial instruments:

2025

2024

£

- Amounts owed by related undertakings

1,802

- Other debtors

612,562

396,519

- Prepayments and accrued income

2,277

616,641

400,598

Financial liabilities measured at amortised cost:

2025

2024

£

- Corporation tax

4,841

4,143

- Other creditors

596

- Directors' current accounts

5,222

- Accruals

1,200

11,859

11,161

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

300

Ordinary

£1

405

300

105 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £5,222 (2024: £5,222) to T Q Leigh. This loan is unsecured, interest free and is repayable on demand.

At the balance sheet date the company owed £1,802 (2024: £1,802) to Town Freehold Investments Ltd, a company in which T Q Leigh is a director.

At the balance sheet date the company was owed £612,562 (2024: £396,519) by Dennis Reed Limited, a company under common control. During the period, Dennis Reed Ltd had receipts of £271,333 (2024: £31,640) and made payments of £55,290 (2024: £16,968) on behalf of the company. The balance owed is unsecured, interest free and has no fixed repayment date.

11.	ULTIMATE CONTROLLING PARTY

Mr T Q Leigh, the sole director, together with members of his close family, control the company by virtue of a controlling interest (directly or indirectly) of 66.7% of the issued ordinary share capital.