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REGISTERED NUMBER: 01786590 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Central (High Rise) Limited

Central (High Rise) Limited (Registered number: 01786590)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Central (High Rise) Limited (Registered number: 01786590)

Balance Sheet
30 September 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 54,170 65,797

CURRENT ASSETS
Stocks 173,788 76,355
Debtors 5 503,649 834,423
Cash at bank and in hand 788,728 400,084
1,466,165 1,310,862
CREDITORS
Amounts falling due within one year 6 (419,167 ) (383,378 )
NET CURRENT ASSETS 1,046,998 927,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,101,168

993,281

CREDITORS
Amounts falling due after more than one
year

7

(66,667

)

(149,181

)
NET ASSETS 1,034,501 844,100

CAPITAL AND RESERVES
Called up share capital 3,500 3,500
Capital redemption reserve 3,500 3,500
Retained earnings 1,027,501 837,100
1,034,501 844,100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:





N Corden - Director


Central (High Rise) Limited (Registered number: 01786590)

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

1. STATUTORY INFORMATION

Central (High Rise) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01786590

Registered office: Central House
Thoresby Avenue
Sneinton
Nottingham
NG2 3GA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance and Straight line over 4 years
Motor vehicles - 25% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to sell. Costs includes all cost of purchase, costs of conversion and other costs incurred in bringing the stock to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. 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.

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.

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.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.

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.

Central (High Rise) Limited (Registered number: 01786590)

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

2. ACCOUNTING POLICIES - continued

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimates 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.

Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of the construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is expensed immediately, with a corresponding provision for an onerous contract being recognised.
Where the collectability of an amount is already recognised as contract revenue is no longer probable, the uncollectable amount is expensed rather than recognised as an adjustment to the amount of contract revenue.
the entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 45,277 34,979 88,494 168,750
Additions 9,258 1,304 - 10,562
Disposals (9,555 ) (198 ) - (9,753 )
At 30 September 2023 44,980 36,085 88,494 169,559
DEPRECIATION
At 1 October 2022 21,169 30,623 51,161 102,953
Charge for year 8,342 2,063 9,333 19,738
Eliminated on disposal (7,104 ) (198 ) - (7,302 )
At 30 September 2023 22,407 32,488 60,494 115,389
NET BOOK VALUE
At 30 September 2023 22,573 3,597 28,000 54,170
At 30 September 2022 24,108 4,356 37,333 65,797

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 362,908 680,177
Amounts owed by group undertakings 104,243 125,739
Other debtors 36,498 28,507
503,649 834,423

The company operates a factoring arrangement with HSBC Invoice Finance (UK) Limited. This provides the company with flexible sales related finance based on the value of invoices assigned. The costs comprise a factoring charge on the value of the invoices assigned together with an interest charge on the amounts advanced.

Central (High Rise) Limited (Registered number: 01786590)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,000 40,000
Finance leases (see note 8) 43,129 13,014
Trade creditors 109,311 62,395
Taxation and social security 184,214 198,308
Other creditors 42,513 69,661
419,167 383,378

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 66,667 106,667
Finance leases (see note 8) - 42,514
66,667 149,181

The UK Government have provided partial guarantee over the bank loan.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 43,129 13,014
Between one and five years - 42,514
43,129 55,528

Non-cancellable operating leases
2023 2022
£    £   
Within one year 24,092 27,127
Between one and five years 18,000 42,092
42,092 69,219

9. RELATED PARTY DISCLOSURES

At 30 September 2023, included in debtors, is an amount totalling £104,243 (2022 - £125,739) owing from Corden & Townsend Limited, the parent company.