4 31/01/2023 2023-01-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-02-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 09375787 2022-02-01 2023-01-31 09375787 2023-01-31 09375787 2022-01-31 09375787 2021-02-01 2022-01-31 09375787 2022-01-31 09375787 core:PlantMachinery 2022-02-01 2023-01-31 09375787 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 09375787 bus:RegisteredOffice 2022-02-01 2023-01-31 09375787 bus:LeadAgentIfApplicable 2022-02-01 2023-01-31 09375787 bus:Director1 2022-02-01 2023-01-31 09375787 bus:Director2 2022-02-01 2023-01-31 09375787 core:PlantMachinery 2022-01-31 09375787 core:FurnitureFittingsToolsEquipment 2022-01-31 09375787 core:MotorVehicles 2022-01-31 09375787 core:PlantMachinery 2023-01-31 09375787 core:FurnitureFittingsToolsEquipment 2023-01-31 09375787 core:MotorVehicles 2023-01-31 09375787 core:WithinOneYear 2023-01-31 09375787 core:WithinOneYear 2022-01-31 09375787 core:AfterOneYear 2023-01-31 09375787 core:AfterOneYear 2022-01-31 09375787 core:ShareCapital 2023-01-31 09375787 core:ShareCapital 2022-01-31 09375787 core:RetainedEarningsAccumulatedLosses 2023-01-31 09375787 core:RetainedEarningsAccumulatedLosses 2022-01-31 09375787 core:MotorVehicles 2022-02-01 2023-01-31 09375787 core:FurnitureFittingsToolsEquipment 2022-01-31 09375787 core:MotorVehicles 2022-01-31 09375787 bus:SmallEntities 2022-02-01 2023-01-31 09375787 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09375787 bus:FullAccounts 2022-02-01 2023-01-31 09375787 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 09375787 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09375787 core:WithinOneYear 2022-02-01 2023-01-31
Company registration number: 09375787
Central (GB) Ltd
Trading as Central Lotus
Unaudited filleted financial statements
31 January 2023
Central (GB) Ltd
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Central (GB) Ltd
Directors and other information
Directors K Riley
A Bradbury
Company number 09375787
Registered office Central Lotus Centre Court
Waterside Way
Nottingham
NG2 4DP
Accountants C J Lucking & Co
34 Cross Street
Long Eaton
Nottingham
NG10 1HD
Central (GB) Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Central (GB) Ltd
Year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Central (GB) Ltd for the year ended 31 January 2023 which comprise the Balance sheet and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Central (GB) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Central (GB) Ltd and state those matters that we have agreed to state to the board of directors of Central (GB) Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Central (GB) Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Central (GB) Ltd 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 Central (GB) Ltd. You consider that Central (GB) Ltd 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 Central (GB) Ltd. 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.
C J Lucking & Co
Chartered Accountants
34 Cross Street
Long Eaton
Nottingham
NG10 1HD
21 November 2023
Central (GB) Ltd
Balance sheet
31 January 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 182,017 164,916
_______ _______
182,017 164,916
Current assets
Stocks 541,820 461,323
Debtors 6 71,838 33,573
Cash at bank and in hand 63 57,510
_______ _______
613,721 552,406
Creditors: amounts falling due
within one year 7 ( 779,707) ( 627,860)
_______ _______
Net current liabilities ( 165,986) ( 75,454)
_______ _______
Total assets less current liabilities 16,031 89,462
Creditors: amounts falling due
after more than one year 8 ( 31,668) ( 49,372)
Provisions for liabilities ( 3,527) ( 3,002)
_______ _______
Net (liabilities)/assets ( 19,164) 37,088
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 19,264) 36,988
_______ _______
Shareholders (deficit)/funds ( 19,164) 37,088
_______ _______
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 November 2023 , and are signed on behalf of the board by:
A Bradbury
Director
Company registration number: 09375787
Central (GB) Ltd
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Central Lotus Centre Court, Waterside Way, Nottingham, NG2 4DP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation charge represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account. 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.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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 - 33.3 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the amounts received or receivable. 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 to which the grant relates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Trade and other debtors do not carry interest and are stated at their nominal value. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 13,109 179,266 17,029 209,404
Additions 7,790 - 21,500 29,290
_______ _______ _______ _______
At 31 January 2023 20,899 179,266 38,529 238,694
_______ _______ _______ _______
Depreciation
At 1 February 2022 13,109 27,972 3,406 44,487
Charge for the year 584 8,291 3,315 12,190
_______ _______ _______ _______
At 31 January 2023 13,693 36,263 6,721 56,677
_______ _______ _______ _______
Carrying amount
At 31 January 2023 7,206 143,003 31,808 182,017
_______ _______ _______ _______
At 31 January 2022 - 151,294 13,623 164,917
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 29,407 17,149
Other debtors 42,431 16,424
_______ _______
71,838 33,573
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 19,895 10,000
Trade creditors 23,954 21,134
Corporation tax - 11,260
Social security and other taxes 7,601 57,554
Other creditors 728,257 527,912
_______ _______
779,707 627,860
_______ _______
Finance provided by FCA Dealer Services UK Ltd is secured on the assets of the company. The balance owing to FCA Dealer Services UK Ltd at the year end amounted to £nil (2022 - £196,472).
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 31,668 38,797
Other creditors - 10,575
_______ _______
31,668 49,372
_______ _______
9. Directors advances, credits and guarantees
At 31st January 2023 the company owed £140,607 (2022 - £151,179) to one of the directors of the company.