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Registered Number: 07486863


 

 

 

CENTURY INNOVATIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Director Yugandhar KASALA
Registered Number 07486863
Registered Office 44 Browning Close
Royston
Hertfordshire
SG8 7EY
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 January 2023.
Principal activities
Principal activity of the company during the financial year is to provide Information Technology Consulting Services.
Director
The director who served the company throughout the year was as follows:
Yugandhar KASALA (from 10/01/2011)
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Yugandhar KASALA
Director

Date approved: 19 October 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,863    2,485 
1,863    2,485 
Current assets      
Debtors 4 55,318    54,078 
Cash at bank and in hand 6,757    640 
62,075    54,718 
Creditors: amount falling due within one year 5 (22,819)   (14,032)
Net current assets 39,256    40,686 
 
Total assets less current liabilities 41,119    43,171 
Creditors: amount falling due after more than one year 6 (32,253)   (42,901)
Provisions for liabilities 7 (13)   23 
Net assets 8,853    293 
 

Capital and reserves
     
Called up share capital 8 2    2 
Profit and loss account 8,851    291 
Shareholder's funds 8,853    293 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 19 October 2023 and were signed by:


-------------------------------
Yugandhar KASALA
Director
3
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 February 2021 2  157  159 
Profit for the year 32,934  32,934 
Total comprehensive income for the year 32,934  32,934 
Dividends (32,800) (32,800)
Total investments by and distributions to owners (32,800) (32,800)
At 31 January 2022 2  291  293 
At 01 February 2022 2  291  293 
Profit for the year 41,160  41,160 
Total comprehensive income for the year 41,160  41,160 
Dividends (32,600) (32,600)
Total investments by and distributions to owners (32,600) (32,600)
At 31 January 2023 2  8,851  8,853 
4
General Information
CENTURY INNOVATIONS LTD is a private company, limited by shares, registered in , registration number 07486863, registration address 44 Browning Close, Royston, Hertfordshire, SG8 7EY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25 Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 February 2022 14,423    14,423 
Additions  
Disposals  
At 31 January 2023 14,423    14,423 
Depreciation
At 01 February 2022 11,938    11,938 
Charge for year 622    622 
On disposals  
At 31 January 2023 12,560    12,560 
Net book values
Closing balance as at 31 January 2023 1,863    1,863 
Opening balance as at 01 February 2022 2,485    2,485 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   10,200 
Other Debtors 29,320    29,100 
Directors' Current Accounts 25,998    14,778 
55,318    54,078 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 12,000   
Corporation Tax 9,800    7,919 
PAYE & Social Security 44    182 
Wages & Salaries Control Account   991 
VAT 975    4,940 
22,819    14,032 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 32,253    42,901 
32,253    42,901 

7.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 13    (23)
13    (23)

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Class A shares of £1.00 each  
 

9.

Director’s loan

Directors Loan

The director intends to repay the loan in the sum of £25,997 with 9 months of the company year end.
10.

Ultimate Control

Mr.Yugandhar Kalasala is the majority shareholder who has the significant control in the company
5