17
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
2021-01-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
10257623
2021-01-01
2021-12-31
10257623
2021-12-31
10257623
2020-12-31
10257623
2020-01-01
2020-12-31
10257623
2020-12-31
10257623
core:PlantMachinery
2021-01-01
2021-12-31
10257623
bus:RegisteredOffice
2021-01-01
2021-12-31
10257623
bus:LeadAgentIfApplicable
2021-01-01
2021-12-31
10257623
bus:Director1
2021-01-01
2021-12-31
10257623
core:PlantMachinery
2020-12-31
10257623
core:MotorVehicles
2020-12-31
10257623
core:PlantMachinery
2021-12-31
10257623
core:MotorVehicles
2021-12-31
10257623
core:MotorVehicles
2021-01-01
2021-12-31
10257623
core:WithinOneYear
2021-12-31
10257623
core:WithinOneYear
2020-12-31
10257623
core:AfterOneYear
2021-12-31
10257623
core:AfterOneYear
2020-12-31
10257623
core:ShareCapital
2021-12-31
10257623
core:ShareCapital
2020-12-31
10257623
core:RetainedEarningsAccumulatedLosses
2021-12-31
10257623
core:RetainedEarningsAccumulatedLosses
2020-12-31
10257623
core:PlantMachinery
2020-12-31
10257623
core:MotorVehicles
2020-12-31
10257623
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2021-12-31
10257623
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2020-12-31
10257623
bus:SmallEntities
2021-01-01
2021-12-31
10257623
bus:AuditExemptWithAccountantsReport
2021-01-01
2021-12-31
10257623
bus:FullAccounts
2021-01-01
2021-12-31
10257623
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
10257623
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
10257623
core:AfterOneYear
2021-01-01
2021-12-31
COMPANY REGISTRATION NUMBER:
10257623
Centree Installations Limited |
|
Filleted Unaudited Financial Statements |
|
Centree Installations Limited |
|
Year ended 31 December 2021
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Centree Installations Limited |
|
Officers and Professional Advisers |
|
REGISTERED OFFICE |
Potton House |
|
Wyboston Lakes |
|
Great North Road |
|
Wyboston |
|
Bedford |
|
MK44 3BZ |
|
|
ACCOUNTANTS |
Streets |
|
Chartered Accountants |
|
Potton House |
|
Wyboston Lakes |
|
Great North Road |
|
Wyboston |
|
Bedford |
|
MK44 3BZ |
|
|
BANKERS |
Barclays Bank Plc |
|
41 High Street |
|
St Neots |
|
Cambs |
|
PE19 1AS |
|
|
Centree Installations Limited |
|
Statement of Financial Position |
|
31 December 2021
Fixed assets
Tangible assets |
5 |
|
46,777 |
42,685 |
|
|
|
|
|
Current assets
Debtors |
6 |
90,433 |
|
68,495 |
Cash at bank and in hand |
7,382 |
|
41,880 |
|
-------- |
|
--------- |
|
97,815 |
|
110,375 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
93,767 |
|
75,979 |
|
-------- |
|
--------- |
Net current assets |
|
4,048 |
34,396 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
50,825 |
77,081 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
54,129 |
64,899 |
|
|
|
|
|
Provisions |
|
8,773 |
7,988 |
|
|
-------- |
-------- |
Net (liabilities)/assets |
|
(
12,077) |
4,194 |
|
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
(
12,177) |
4,094 |
|
|
-------- |
------- |
Shareholders (deficit)/funds |
|
(
12,077) |
4,194 |
|
|
-------- |
------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Centree Installations Limited |
|
Statement of Financial Position (continued) |
|
31 December 2021
These financial statements were approved by the
board of directors
and authorised for issue on
12 May 2022
, and are signed on behalf of the board by:
Company registration number:
10257623
Centree Installations Limited |
|
Notes to the Financial Statements |
|
Year ended 31 December 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ. The principal place of business is Centree House, Unit 6-8, Bicton Industrial Park, Kimbolton, Huntingdon, Cambridgeshire, PE28 0LQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director assesses whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The director makes this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. During the year the UK has continued to experience a pandemic of the coronavirus. The potential effects to the company and its future prospects cannot be fully quantified but the director remains committed to the protection of the business and the situation is being regularly reviewed. The company successfully applied for a Bounce Back Loan, supported by the UK Government, which is repayable over the next five years, along with instalments due under the company's hire purchase agreements. The director considers that the company will have adequate resources to continue in operational existence for the foreseeable future and to meet its debts as they fall due for payment. Accordingly, the financial statements have been prepared on a going concern basis.
Rental income
The company received rental income from the shared use of its leased premises. Rent received is recognised on an accruals basis.
Revenue recognition
Turnover represents commissions receivable by the company which have been accounted for on an accruals basis, net of value added tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
25% reducing balance |
|
Motor vehicles |
- |
25% or 33% Reducing balance |
|
|
|
|
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution pension plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
17
(2020:
15
).
5.
Tangible assets
|
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 January 2021 |
5,030 |
57,217 |
62,247 |
Additions |
– |
19,475 |
19,475 |
|
------- |
-------- |
-------- |
At 31 December 2021 |
5,030 |
76,692 |
81,722 |
|
------- |
-------- |
-------- |
Depreciation |
|
|
|
At 1 January 2021 |
976 |
18,586 |
19,562 |
Charge for the year |
1,014 |
14,369 |
15,383 |
|
------- |
-------- |
-------- |
At 31 December 2021 |
1,990 |
32,955 |
34,945 |
|
------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 31 December 2021 |
3,040 |
43,737 |
46,777 |
|
------- |
-------- |
-------- |
At 31 December 2020 |
4,054 |
38,631 |
42,685 |
|
------- |
-------- |
-------- |
|
|
|
|
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
Motor vehicles |
|
£ |
At 31 December 2021 |
24,764 |
|
-------- |
At 31 December 2020 |
33,018 |
|
-------- |
|
|
6.
Debtors
|
2021 |
2020 |
|
£ |
£ |
Trade debtors |
739 |
2,227 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
75,622 |
49,269 |
Other debtors |
14,072 |
16,999 |
|
-------- |
-------- |
|
90,433 |
68,495 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
Bank loans and overdrafts |
10,000 |
5,833 |
Trade creditors |
40,361 |
1,977 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2,900 |
7,900 |
Social security and other taxes |
14,327 |
45,765 |
Other creditors |
26,179 |
14,504 |
|
-------- |
-------- |
|
93,767 |
75,979 |
|
-------- |
-------- |
|
|
|
Bank loans and overdrafts are liabilities secured by the UK Government under the coronavirus Bounce Back Loan Scheme. Included within other creditors are liabilities due under hire purchase and finance leases, totalling £18,059 (2020 £12,697), which are secured on the assets concerned.
8.
Creditors:
amounts falling due after more than one year
|
2021 |
2020 |
|
£ |
£ |
Bank loans and overdrafts |
34,167 |
44,167 |
Other creditors |
19,962 |
20,732 |
|
-------- |
-------- |
|
54,129 |
64,899 |
|
-------- |
-------- |
|
|
|
Bank loans and overdrafts are liabilities secured by the UK Government under the coronavirus Bounce Back Loan Scheme. Included within other creditors are liabilities due under hire purchase and finance leases, totalling £19,962 (2020 £20,732), which are secured on the assets concerned.
9.
Government grants
The amounts recognised in the financial statements for government grants are as follows:
Recognised in other operating income:
Government grants recognised directly in income |
108,875 |
96,983 |
|
--------- |
-------- |
|
|
|
10.
Related party transactions
In May 2020 the company provided a loan of £50,000 to MACOI Limited, a fellow subsidiary of C.O.I. Properties Limited. No interest was charged for the first 12 months of the loan, but £696 was charged in the period May to December 2021. £5,833 was repaid during the year ended 31 December 2021, leaving a balance of £44,167 owed to Centree Installations Limited at the reporting date. The loan is repayable on demand.
11.
Controlling party
The company's immediate parent undertaking is C.O.I. Properties Limited, a company incorporated in England and Wales and whose Registered Office address is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ.