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REGISTERED NUMBER: 02650566 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Centre of Britain Ltd.

Centre of Britain Ltd. (Registered number: 02650566)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Centre of Britain Ltd.

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mrs G Kirkebjerg
D J Taylor





SECRETARY: A B Carr





REGISTERED OFFICE: Main Street
Market Square
Haltwhistle
Northumberland
NE49 0BH





REGISTERED NUMBER: 02650566 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Centre of Britain Ltd. (Registered number: 02650566)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 783,759 785,305

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 6 2,949 1,385
Cash at bank and in hand 32,470 29,887
36,919 32,772
CREDITORS
Amounts falling due within one year 7 157,389 115,882
NET CURRENT LIABILITIES (120,470 ) (83,110 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

663,289

702,195

CREDITORS
Amounts falling due after more than one
year

8

(217,370

)

(214,824

)

PROVISIONS FOR LIABILITIES (109,546 ) (83,537 )
NET ASSETS 336,373 403,834

Centre of Britain Ltd. (Registered number: 02650566)

Balance Sheet - continued
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 387,788 387,788
Retained earnings (51,417 ) 16,044
SHAREHOLDERS' FUNDS 336,373 403,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





D J Taylor - Director


Centre of Britain Ltd. (Registered number: 02650566)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Centre of Britain Ltd. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Centre of Britain Ltd. (Registered number: 02650566)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 15 ) .

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 May 2022
and 30 April 2023 775,000 134,690 909,690
DEPRECIATION
At 1 May 2022 - 124,385 124,385
Charge for year - 1,546 1,546
At 30 April 2023 - 125,931 125,931
NET BOOK VALUE
At 30 April 2023 775,000 8,759 783,759
At 30 April 2022 775,000 10,305 785,305

Centre of Britain Ltd. (Registered number: 02650566)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2001 22,745 - 22,745
Valuation in 2005 186,292 - 186,292
Valuation in 2018 395,680 - 395,680
Valuation in 2019 (100,000 ) - (100,000 )
Valuation in 2020 (155,000 ) - (155,000 )
Valuation in 2021 80,000 - 80,000
Cost 345,283 134,690 479,973
775,000 134,690 909,690

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.4.23 30.4.22
£    £   
Cost 340,963 340,963

Freehold land and buildings were valued on an open market basis on 30 April 2019 by directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 2,949 1,385

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 14,157 27,378
Trade creditors 2,251 1,735
Taxation and social security 8,266 14,597
Other creditors 132,715 72,172
157,389 115,882

Centre of Britain Ltd. (Registered number: 02650566)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 217,370 214,824

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 150,470 106,881

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 231,527 242,202

Included within bank loans is an amount of £184,750 (2022: £193,771) secured against the freehold property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
2 Ordinary 1 2 2