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COMPANY REGISTRATION NUMBER: 10773279
Centregreat Property Ltd
Filleted Unaudited Financial Statements
31 May 2023
Centregreat Property Ltd
Financial Statements
Year ended 31 May 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Centregreat Property Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
5,183,500
5,183,500
Investments
5
100
100
------------
------------
5,183,600
5,183,600
Current assets
Debtors
6
199,603
113,413
Cash at bank and in hand
120,662
302,402
---------
---------
320,265
415,815
Creditors: amounts falling due within one year
7
632,736
857,362
---------
---------
Net current liabilities
312,471
441,547
------------
------------
Total assets less current liabilities
4,871,129
4,742,053
Creditors: amounts falling due after more than one year
8
2,545,016
2,592,637
Provisions
37,500
28,500
------------
------------
Net assets
2,288,613
2,120,916
------------
------------
Capital and reserves
Called up share capital
9
2,195,000
2,195,000
Profit and loss account
93,613
( 74,084)
------------
------------
Shareholders funds
2,288,613
2,120,916
------------
------------
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 income statement has not been delivered.
For the year ending 31 May 2023 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 .
Centregreat Property Ltd
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Mr JC Mathias
Director
Company registration number: 10773279
Centregreat Property Ltd
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Parcau Isaf Farm, Laleston, Bridgend, CF32 0NB.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost.
4. Tangible assets
Freehold property
£
Cost
At 1 June 2022 and 31 May 2023
5,183,500
------------
Depreciation
At 1 June 2022 and 31 May 2023
------------
Carrying amount
At 31 May 2023
5,183,500
------------
At 31 May 2022
5,183,500
------------
The investment properties were valued on an open market basis on 12 September 2023 by the director.
5. Investments
Shares in group undertakings
£
Cost
At 1 June 2022 and 31 May 2023
100
----
Impairment
At 1 June 2022 and 31 May 2023
----
Carrying amount
At 31 May 2023
100
----
At 31 May 2022
100
----
6. Debtors
2023
2022
£
£
Trade debtors
187,100
75,200
Other debtors
12,503
38,213
---------
---------
199,603
113,413
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
57,462
128,245
Trade creditors
84,525
11,279
Corporation tax
44,182
11,085
Social security and other taxes
800
4,000
Other creditors
445,767
702,753
---------
---------
632,736
857,362
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,515,016
2,562,637
Other creditors
30,000
30,000
------------
------------
2,545,016
2,592,637
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2,195,000
2,195,000
2,195,000
2,195,000
------------
------------
------------
------------