REGISTERED NUMBER: 02696466 (England and Wales)

COUNTY CATERING & LEISURE PROPERTIES

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTOR:

P D Prestidge

SECRETARY:

J D Laird

REGISTERED OFFICE:

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

REGISTERED NUMBER:

02696466 (England and Wales)

ACCOUNTANTS:

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

FIXED ASSETS

Tangible assets

5

-

1,187

Investment property

6

19,325,000

19,325,000

19,325,000

19,326,187

CURRENT ASSETS

Debtors

7

522,525

898,242

Cash at bank

11,095,937

636,982

11,618,462

1,535,224

CREDITORS

Amounts falling due within one year

8

(16,918,187

)

(10,129,176

)

NET CURRENT LIABILITIES

(5,299,725

)

(8,593,952

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,025,275

10,732,235

CREDITORS

Amounts falling due after more than one year

9

(7,774,977

)

(4,381,347

)

NET ASSETS

6,250,298

6,350,888

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

12

6,250,296

6,350,886

SHAREHOLDERS' FUNDS

6,250,298

6,350,888

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2025 and were signed by:

P D Prestidge - Director

1.	STATUTORY INFORMATION

County Catering & Leisure Properties 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 (FRS 102 1A) "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Unless indicated otherwise in the accounting policies below, the financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The director has made key assumptions in the determination of the fair value of an investment property. The valuation method is further described in the investment property note together with the valuation of the property at the reporting date.

Turnover

Turnover represents net rental income receivable, excluding value added tax.

Rent free periods or other incentives received for entering into a lease are accounted for over the term of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

over 5 years

Tangible fixed assets are stated at their historical cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit and loss and is included in administrative expenses.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation and are accounted for in accordance with FRS 102 Section 16 "Investment Property." Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period which they arise. Any gains are subsequently transferred to a non-distributable reserve. The company has applied S841 of the Companies Act 2006 allowing provisions for diminution in value to be grouped with overall net unrealised gains. Any losses are therefore only transferred to the non-distributable reserve as far as they can be matched against overall net unrealised gains.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the instrument. All financial assets and liabilities are initially measured at transaction price. With the exception of Investment properties the company has no financial assets measured at fair value through profit or loss. All subsequent remeasurement of financial assets and liabilities are recognised at amortised cost using the effective interest rate method.

Taxation

Current tax is the amount of corporation tax payable in respect of the taxable profit for the period or prior periods. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

39,284

DEPRECIATION

At 1 April 2024

38,097

Charge for year

1,187

At 31 March 2025

39,284

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

1,187

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

19,325,000

NET BOOK VALUE

At 31 March 2025

19,325,000

At 31 March 2024

19,325,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

19,325,000

Freehold property was valued on an open market basis on 31 March 2025 by the director. The director has used the valuation completed on 31 July 2023 by the professional valuers, together with market and property specific date available to him, to form the basis of his valuation. Open market value is considered to be equal to the property's fair value.

If all the properties were sold at their open market value at the balance sheet date, there would be an estimated tax liability arising of £Nil (2024: £Nil).

The company has granted a fixed charge over the investment properties with a carrying value of £19,325,000 as security for the bank loans. See the note 12 for further information.

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

89,793

39,813

Other debtors

141,994

375,933

Directors' current accounts

-

299,701

Deferred tax asset

54,500

62,000

Prepayments and accrued income

116,184

78,962

402,471

856,409

Amounts falling due after more than one year:

Other debtors

120,054

41,833

Aggregate amounts

522,525

898,242

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans

-

9,680,000

Trade creditors

68,992

64,768

Social security and other

taxes

48,496

48,951

Other creditors

21,148

108,043

Directors' current accounts

16,665,734

-

Accruals and deferred income

113,817

227,414

16,918,187

10,129,176

During the year the bank loans were refinanced and £6,680,000 of the loans were repaid, leaving two loan facilities totalling £3,000,000. Further information is provided in the note 12.

The directors' current account balance is interest free and repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

3,000,000

-

Amounts owed to parent company

4,503,496

4,146,300

Other creditors

271,481

235,047

7,774,977

4,381,347

The bank loans are secured by way of a fixed and floating charge over all assets of the company, including a fixed legal mortgage over the investment properties. Rental income from these properties has been assigned to the bank. As at 31 March 2025 £3,000,000 (2024: £9,680,000) was due to Svenska Handelsbanken AB (publ).

At the balance sheet date bank loans stated above totalling £3,000,000 attracted interest at 2.65% above the Bank of England base rate. Under the terms of the loan, quarterly interest payments are made with the total capital balance being repayable on 12 July 2027.

Amounts owed to the parent company are subject to interest at the average rate charged on the group's secured debt for the accounting period plus a 1% margin. The capital balance plus interest accruing is repayable upon a 12 month notice period and for this reason have been shown as due after more than one year.

10.	LEASING AGREEMENTS

The company has a number of operating leases relating to its investment property.

The minimum rent receivable under non-cancellable operating leases are as follows:

2025

2024

£

£

Within one year

1,140,594

1,131,667

Between one and five years

1,806,884

2,091,003

In more than five years

14,080,233

13,978,126

17,027,711

17,200,796

11.	DEFERRED TAX

£

Balance at 1 April 2024

(62,000

)

Utilised during year

13,000

Decelerated capital allowances

(5,500

)

Balance at 31 March 2025

(54,500

)

At 31 March 2025, the deferred tax balance comprises a deferred tax asset of £54,500 (2024: £49,000), arising from temporary differences due to depreciation exceeding capital allowances and tax losses carried forwards of £Nil (2024: £13,000).

The deferred tax asset is included within debtors falling due within one year.

12.

RESERVES

Retained

earnings

£

At 1 April 2024

6,350,886

Deficit for the year

(100,590

)

At 31 March 2025

6,250,296

Retained earnings includes all current period and prior period profits and losses which are distributable.

13.	CONTINGENT LIABILITIES

The company is a member of a VAT group with County Catering & Leisure Limited.

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £150,000 were made to the director. These were subsequently repaid in full as part of a capital introduction by the director. At the year end, the company owed the director £16,665,734 (2024: £299,701 was owed to the company by the director). Interest was charged on amounts owed by the director at the HMRC-approved rate.

15.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption conferred by The Financial Reporting Standard 102 Section 33 'Related party disclosures'. This allows for transactions with members of the group headed by County Catering & Leisure Limited not to be disclosed on the grounds that 100% of the voting rights in the company are controlled within the group. The company is included in the consolidated financial statements of County Catering & Leisure Limited.

16.	POST BALANCE SHEET EVENTS

After the year end, a new freehold investment property was acquired for approximately £5,000,000, funded through capital introduced by the director. The total minimum rent receivable under non-cancellable operating leases relating to the property is approximately £1,520,000 over the lease terms, including rental income from units re-let following the purchase.

Additionally, one of the existing units was re-let on a four-year lease agreement in June 2025, with total rent receivable over the lease term amounting to £138,600.

17.	ULTIMATE PARENT COMPANY

The company's immediate and ultimate parent company is County Catering & Leisure Limited, a company registered in England and Wales.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of County Catering & Leisure Properties Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of County Catering & Leisure Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of County Catering & Leisure Properties Limited and state those matters that we have agreed to state to the director of County Catering & Leisure Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than County Catering & Leisure Properties Limited and its director for our work or for this report.

It is your duty to ensure that County Catering & Leisure Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of County Catering & Leisure Properties Limited. You consider that County Catering & Leisure Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of County Catering & Leisure Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors which obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

10 November 2025