Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312023-10-31false32022-11-01falseholding company activities3false 11052713 2022-11-01 2023-10-31 11052713 2021-11-01 2022-10-31 11052713 2023-10-31 11052713 2022-10-31 11052713 2021-11-01 11052713 c:Director1 2022-11-01 2023-10-31 11052713 c:Director2 2022-11-01 2023-10-31 11052713 c:Director3 2022-11-01 2023-10-31 11052713 c:RegisteredOffice 2022-11-01 2023-10-31 11052713 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 11052713 d:PlantMachinery 2022-11-01 2023-10-31 11052713 d:MotorVehicles 2022-11-01 2023-10-31 11052713 d:OfficeEquipment 2022-11-01 2023-10-31 11052713 d:Goodwill 2022-11-01 2023-10-31 11052713 d:CurrentFinancialInstruments 2023-10-31 11052713 d:CurrentFinancialInstruments 2022-10-31 11052713 d:Non-currentFinancialInstruments 2023-10-31 11052713 d:Non-currentFinancialInstruments 2022-10-31 11052713 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11052713 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11052713 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 11052713 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 11052713 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 11052713 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 11052713 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 11052713 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 11052713 d:ShareCapital 2023-10-31 11052713 d:ShareCapital 2022-10-31 11052713 d:ShareCapital 2021-11-01 11052713 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 11052713 d:RetainedEarningsAccumulatedLosses 2023-10-31 11052713 d:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 11052713 d:RetainedEarningsAccumulatedLosses 2022-10-31 11052713 d:RetainedEarningsAccumulatedLosses 2021-11-01 11052713 c:OrdinaryShareClass1 2022-11-01 2023-10-31 11052713 c:OrdinaryShareClass1 2023-10-31 11052713 c:OrdinaryShareClass1 2022-10-31 11052713 c:OrdinaryShareClass2 2022-11-01 2023-10-31 11052713 c:OrdinaryShareClass2 2023-10-31 11052713 c:OrdinaryShareClass2 2022-10-31 11052713 c:OrdinaryShareClass3 2022-11-01 2023-10-31 11052713 c:OrdinaryShareClass3 2023-10-31 11052713 c:OrdinaryShareClass3 2022-10-31 11052713 c:OrdinaryShareClass4 2022-11-01 2023-10-31 11052713 c:OrdinaryShareClass4 2023-10-31 11052713 c:OrdinaryShareClass4 2022-10-31 11052713 c:FRS102 2022-11-01 2023-10-31 11052713 c:Audited 2022-11-01 2023-10-31 11052713 c:FullAccounts 2022-11-01 2023-10-31 11052713 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11052713 d:Subsidiary1 2022-11-01 2023-10-31 11052713 d:Subsidiary1 1 2022-11-01 2023-10-31 11052713 c:Consolidated 2023-10-31 11052713 c:ConsolidatedGroupCompanyAccounts 2022-11-01 2023-10-31 11052713 2 2022-11-01 2023-10-31 11052713 6 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11052713









CENTAUR GROUP LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
CENTAUR GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
M H Sims Esq 
P D Sims Esq 
R A Sims Esq 




Registered number
11052713



Registered office
Unit 34 & 35 Acorn Industrial Park
Acorn Road

Kent

DA1 4AL




Independent auditors
Barnes Roffe LLP
Chartered Accountants & Statutory auditors

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA





 
CENTAUR GROUP LIMITED
 

CONTENTS



Page
Group strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 7
Consolidated statement of comprehensive income
 
8
Consolidated balance sheet
 
9
Company balance sheet
 
10
Consolidated statement of changes in equity
 
11
Company statement of changes in equity
 
12
Consolidated statement of cash flows
 
13 - 14
Notes to the financial statements
 
15 - 32


 
CENTAUR GROUP LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

Introduction
 
The directors present their strategic report and group financial statements for the year ended 31 October 2023.

Business review
 
The principal activity of the group in the year under review was the provision of vehicles for hire with a driver.
During the year the directors continued to heavily invest in the group’s growth through investment in vehicle renewals, development of IT systems and increase in staff numbers making excellent progress towards its objectives. This is most notable with the further work towards a zero-carbon operation with increased investment into zero emissions vehicles, as well as the supporting infrastructure and training. The group continued to achieve its Carbon Neutral status through investment in carbon offsetting. 
Key Performance Indicators
The group’s key performance indicators are turnover and profit on ordinary activities before taxation. The directors were satisfied with the performance against these objectives in 2023. During the year, the group met management targets in relation to sales and underlying profit performance, resulting in growth.                   

Principal risks and uncertainties
 
The directors believe the main risk to the business is uncertainty in the political sphere with potential widespread changes in employment law due to the change in UK Government. The directors continue to work to reduce and remove any impact of these changes where possible.

Financial key performance indicators
 
The group scales revenue growth, while maintaining gross margins and without increasing headcount proportionally, by levering robust internal platforms and capitalising on digital development. The group therefore focuses on the key metrics of revenue growth, gross margin, and underlying net profit.

Other key performance indicators
 
The group measures KPI’s delivered by individual staff members and has structured remuneration packages to reward strong performance.


This report was approved by the board on 30 July 2024 and signed on its behalf.



R A Sims Esq
Director

Page 1

 
CENTAUR GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

The directors present their report and the financial statements for the year ended 31 October 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors 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 group and of the profit or loss of the group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.

The directors are 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 the group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The group profit for the year, after taxation, amounted to £1,165,312 (2022 - £361,536).

Dividends amounting to £136,500 (2022: £137,000) were voted during the year.

Directors

The directors who served during the year were:

M H Sims Esq 
P D Sims Esq 
R A Sims Esq 

Future developments

There are no future developments that the directors are aware of.

Page 2

 
CENTAUR GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the group since the year end.

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 30 July 2024 and signed on its behalf.
 





M H Sims Esq
Director

Page 3

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED
 

Opinion


We have audited the financial statements of Centaur Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2023, which comprise the group Statement of comprehensive income, the group and company Balance sheets, the group Statement of cash flows, the group and company Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the group's and of the parent company's affairs as at 31 October 2023 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 4

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
 The engagement partner ensured that the engagement team collectively had the appropriate competence,
 capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussion with directors and other management, and from our commercial knowledge and experience of the sector that the company operates in;
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows;
°Companies Act 2006, 
°Helath and Safety regulations
°Contractor Health and Safety (CHAS)
°PSV Licencing regulations;
°Private Hire Licencing regulations
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes, relevant correspondence and certificates held; and
Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of 
non compliance throughout the audit.
 
We assessed the susceptibility of the company’s financial statements to material misstatement, including
obtaining an understanding of how fraud might occur by:
 
Making enquires of management and the board as to where they consider there was susceptibility to fraud along with their knowledge of actual, suspected and alleged fraud;
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
Reviewing the financial statements and testing the disclosures against supporting documentation;
Performing analytical procedures to identify any unusual or unexpected transactions;
Assessing whether judgement and assumptions made in determining significant accounting estimates, where indicative of mangement bias; and
Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company's normal course of business. 

The areas that we identified as being susceptible to misstatement through fraud were:

Management bias in the estimates and judgements made;
Management override of controls; and 
Posting of unusual journals or transactions.

Page 6

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED (CONTINUED)


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Mario Cientanni (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Statutory auditors
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA

 
 
Date: 
30 July 2024
Page 7

 
CENTAUR GROUP LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2023

2023
2022
Note
£
£

  

Turnover
 3 
9,514,355
7,363,531

Cost of sales
  
(6,721,064)
(5,875,502)

Gross profit
  
2,793,291
1,488,029

Administrative expenses
  
(1,535,791)
(1,000,508)

Other operating income
  
366,408
269,441

Operating profit
  
1,623,908
756,962

Interest receivable and similar income
  
58,800
1,459

Interest payable and similar expenses
 10 
(124,354)
(111,704)

Profit before taxation
  
1,558,354
646,717

Tax on profit
 11 
(393,042)
(285,181)

Profit for the financial year
  
1,165,312
361,536

Profit for the year attributable to:
  

Owners of the parent company
  
1,165,312
361,536

  
1,165,312
361,536

There were no recognised gains and losses for 2023 or 2022 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 15 to 32 form part of these financial statements.

Page 8

 
CENTAUR GROUP LIMITED
REGISTERED NUMBER: 11052713

CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 13 
189,322
236,652

Tangible assets
 14 
4,163,703
3,408,363

  
4,353,025
3,645,015

Current assets
  

Stocks
 17 
41,532
35,109

Debtors: amounts falling due within one year
 18 
1,973,810
1,835,837

Cash at bank and in hand
  
1,748,101
1,232,297

  
3,763,443
3,103,243

Creditors: amounts falling due within one year
 20 
(2,691,773)
(2,204,582)

Net current assets
  
 
 
1,071,670
 
 
898,661

Total assets less current liabilities
  
5,424,695
4,543,676

Creditors: amounts falling due after more than one year
 21 
(1,954,405)
(2,297,364)

Provisions for liabilities
  

Deferred taxation
  
(930,034)
(734,868)

Net assets
  
2,540,256
1,511,444


Capital and reserves
  

Called up share capital 
 25 
2,000
2,000

Profit and loss account
  
2,538,256
1,509,444

  
2,540,256
1,511,444


The financial statements were approved and authorised for issue by the board and were signed on its behalf by 




P D Sims Esq
R A Sims Esq
Director
Director


Date: 30 July 2024

Page 9

 
CENTAUR GROUP LIMITED
REGISTERED NUMBER: 11052713

COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 15 
3,064,023
3,064,023

  
3,064,023
3,064,023

Current assets
  

Debtors: amounts falling due within one year
 18 
825,631
655,896

  
825,631
655,896

Creditors: amounts falling due within one year
 20 
(447,390)
(550,710)

Net current assets
  
 
 
378,241
 
 
105,186

Total assets less current liabilities
  
3,442,264
3,169,209

  

Creditors: amounts falling due after more than one year
 21 
(1,016,960)
(1,271,200)

  

Net assets excluding pension asset
  
2,425,304
1,898,009

Net assets
  
2,425,304
1,898,009


Capital and reserves
  

Called up share capital 
 25 
2,000
2,000

Profit and loss account
  
2,423,304
1,896,009

  
2,425,304
1,898,009


The financial statements were approved and authorised for issue by the board and were signed on its behalf   


P D Sims Esq
R A Sims Esq
Director
Director


Date: 30 July 2024

Page 10

 
CENTAUR GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Equity attributable to owners of parent company
Total equity

£
£
£
£

At 1 November 2022
2,000
1,509,444
1,511,444
1,511,444



Profit for the year
-
1,165,312
1,165,312
1,165,312

Dividends: Equity capital
-
(136,500)
(136,500)
(136,500)


At 31 October 2023
2,000
2,538,256
2,540,256
2,540,256


The notes on pages 15 to 32 form part of these financial statements.


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022


Called up share capital
Profit and loss account
Equity attributable to owners of parent company
Total equity

£
£
£
£

At 1 November 2021
2,000
1,284,908
1,286,908
1,286,908



Profit for the year
-
361,536
361,536
361,536

Dividends: Equity capital
-
(137,000)
(137,000)
(137,000)


At 31 October 2022
2,000
1,509,444
1,511,444
1,511,444


The notes on pages 15 to 32 form part of these financial statements.

Page 11

 
CENTAUR GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
2,000
1,896,009
1,898,009



Profit for the year
-
663,795
663,795

Dividends: Equity capital
-
(136,500)
(136,500)


At 31 October 2023
2,000
2,423,304
2,425,304



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2021
2,000
764,732
766,732



Profit for the year
-
662,277
662,277

Dividends: Equity capital
-
469,000
469,000


At 31 October 2022
2,000
1,896,009
1,898,009


The notes on pages 15 to 32 form part of these financial statements.

Page 12

 
CENTAUR GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
1,165,312
361,536

Adjustments for:

Amortisation of intangible assets
47,330
47,330

Depreciation of tangible assets
896,238
604,971

Profit on disposal of tangible assets
(92,029)
(34,731)

Interest paid
124,354
111,704

Interest received
(58,800)
(1,459)

Taxation charge
423,100
285,181

(Increase) in stocks
(6,423)
(27,329)

(Increase) in debtors
(162,215)
(410,881)

Increase in creditors
283,320
112,613

Corporation tax received
2,191
58,622

Net cash generated from operating activities

2,622,378
1,107,557

Page 13

 
CENTAUR GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023


2023
2022

£
£


Cash flows from investing activities

Purchase of tangible fixed assets
(1,656,850)
(893,553)

Sale of tangible fixed assets
97,301
59,192

Interest received
58,800
1,459

Net cash from investing activities

(1,500,749)
(832,902)

Cash flows from financing activities

Repayment of other loans
(254,240)
(254,240)

Repayment of/new finance leases
(90,731)
(34,281)

Dividends paid
(136,500)
(137,000)

Interest paid
(73,323)
(76,744)

HP interest paid
(51,031)
(34,960)

Net cash used in financing activities
(605,825)
(537,225)

Net increase/(decrease) in cash and cash equivalents
515,804
(262,570)

Cash and cash equivalents at beginning of year
1,232,297
1,494,867

Cash and cash equivalents at the end of year
1,748,101
1,232,297


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,748,101
1,232,297

1,748,101
1,232,297


The notes on pages 15 to 32 form part of these financial statements.

Page 14

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Centaur Group Limited is a private company limited by shares and incorporated in England and Wales. The registered office address of the company is Unit 34 & 35 Acorn Industrial Park, Acorn Road, Dartford, Kent, DA1 4AL.
The principal activity of the company are those of a holding company and the provision of management services. The group's principal activity during the year was that of minibus and coach private hire and transport operators.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies.

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 15

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 16

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds.

Page 17

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

For intangible assets where the useful economic life cannot be reliably measured amortisation is applied on a straight line basis over 10 years. 

Page 18

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:


Long-term leasehold property
-
Straight line over the priod of the lease
Plant and machinery
-
25% Straight line
Motor vehicles
-
12.5% Straight line
Office equipment
-
25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

From 1 November 2022, the directors took the decision that the maximum useful lives of motor vehicles should be 10 years, with motor vehicles being depreciated straight line over a maximum period of 8 years. This is to more accurately reflect the useful lives and expected future benefits of the assets.
This change in accounting estimate has resulted in an increase in motor vehicles depreciation in the year of £55,412.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Costs include all direct costs.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 19

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

 
2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the group becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 20

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Contract sales
7,534,241
5,951,238

Private hire
1,405,676
1,031,920

Commuter travel
573,105
379,922

Bus services grant income
1,333
451

9,514,355
7,363,531


Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
9,514,355
7,363,531

9,514,355
7,363,531



4.


Other operating income

2023
2022
£
£

Government grants receivable
366,408
269,441

366,408
269,441



5.


Operating profit

The operating profit is stated after charging:

2023
2022
£
£

Depreciation of tangible fixed assets
869,955
604,971

Exchange differences
-
19

Profit on disposal of tangible fixed assets
(92,029)
(34,731)

Other operating lease rentals
198,808
134,532

Amortisation of intangible assets, including goodwill
47,330
47,330

Page 21

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2023
2022
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
12,490
11,675

All other services
3,271
5,125


7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
4,327,665
3,712,405
-
-

Social security costs
38,505
24,073
-
-

Cost of defined contribution scheme
155,549
77,689
-
-

4,521,719
3,814,167
-
-


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Administration
381
322
3
3


8.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
17,568
17,568

Group contributions to defined contribution pension schemes
102,000
36,000

119,568
53,568


Page 22

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Interest receivable

2023
2022
£
£


Bank interest receivable
58,800
1,459

58,800
1,459


10.


Interest payable and similar expenses

2023
2022
£
£


Other loan interest payable
73,323
76,744

Finance leases and hire purchase interest
51,031
34,960

124,354
111,704


11.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
197,876
19,264

Adjustments in respect of previous periods
-
8,563


197,876
27,827


Total current tax
197,876
27,827

Deferred tax


Origination and reversal of timing differences
195,166
257,354

Total deferred tax
195,166
257,354


Tax on profit
393,042
285,181
Page 23

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - higher than) the standard rate of corporation tax in the UK of 25% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
1,582,337
646,717


Profit on ordinary activities multiplied by effective rate of corporation tax in the UK of 22.5% (2022 - 19%)
356,308
122,876

Effects of:


Non-tax deductible amortisation of goodwill and impairment
10,658
8,993

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
693
2,097

Capital allowances for year in excess of depreciation
(147,770)
(108,103)

Profit on disposal of fixed assets
(20,723)
(6,599)

Higher rate taxes on overseas earnings
(845)
-

Adjustments to tax charge in respect of prior periods
-
8,563

Deffered tax provision
195,166
257,354

Marginal relief
(445)
-

Total tax charge for the year
393,042
285,181


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


12.


Dividends

2023
2022
£
£


Dividends paid
136,500
137,000

136,500
137,000

Page 24

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

13.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 November 2022
473,302



At 31 October 2023

473,302



Amortisation


At 1 November 2022
236,650


Charge for the year on owned assets
47,330



At 31 October 2023

283,980



Net book value



At 31 October 2023
189,322



At 31 October 2022
236,652



Page 25

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

14.


Tangible fixed assets

Group






Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
3,649
75,966
7,397,912
95,281
7,572,808


Additions
113,043
29,883
1,463,697
50,227
1,656,850


Disposals
-
-
(703,153)
-
(703,153)



At 31 October 2023

116,692
105,849
8,158,456
145,508
8,526,505



Depreciation


At 1 November 2022
3,649
30,908
4,040,815
89,073
4,164,445


Charge for the year on owned assets
2,300
18,420
551,653
10,162
582,535


Charge for the year on financed assets
-
-
313,703
-
313,703


Disposals
-
-
(697,881)
-
(697,881)



At 31 October 2023

5,949
49,328
4,208,290
99,235
4,362,802



Net book value



At 31 October 2023
110,743
56,521
3,950,166
46,273
4,163,703



At 31 October 2022
-
45,058
3,357,097
6,208
3,408,363




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
110,743
-

110,743
-


Page 26

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

           14.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2023
2022
£
£



Motor vehicles
1,864,883
1,718,909

1,864,883
1,718,909


15.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2022
3,064,023



At 31 October 2023
3,064,023




Page 27

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

16.



Subsidiary undertaking



Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Principal activity

Class of shares

Holding

Centaur Overland Travel Limited
Minibus and coach private hire and transport operators
Ordinary "A", "B", "C", "D", "F" and "G"
100%




Aggregate of share capital and reserves
Profit/(Loss)

Centaur Overland Travel Limited
100
1,315,971


17.


Stocks

Group
Group
2023
2022
£
£

Raw materials and consumables
41,532
35,109

41,532
35,109


Page 28

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

18.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
1,386,101
1,399,815
-
-

Amounts owed by group undertakings
-
-
825,631
655,896

Other debtors
75,892
38,044
-
-

Prepayments and accrued income
511,817
397,978
-
-

1,973,810
1,835,837
825,631
655,896



19.


Cash and cash equivalents

Group
Group
2023
2022
£
£

Cash at bank and in hand
1,748,101
1,232,297

1,748,101
1,232,297



20.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Other loans
254,240
254,240
254,240
254,240

Payments received on account
29,742
24,999
-
-

Trade creditors
561,800
542,859
-
-

Corporation tax
229,207
23,324
36,595
23,324

Other taxation and social security
67,479
59,649
-
-

Obligations under finance lease and hire purchase contracts
484,498
486,510
-
-

Other creditors
522,467
667,489
129,762
242,114

Accruals and deferred income
542,340
145,512
26,793
31,032

2,691,773
2,204,582
447,390
550,710


Page 29

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

21.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Other loans
1,016,960
1,271,200
1,016,960
1,271,200

Net obligations under finance leases and hire purchase contracts
937,445
1,026,164
-
-

1,954,405
2,297,364
1,016,960
1,271,200


Net obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.


22.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Amounts falling due within one year

Other loans
254,240
254,240
254,240
254,240

Amounts falling due 1-2 years

Other loans
254,240
254,240
254,240
254,240

Amounts falling due 2-5 years

Other loans
762,720
1,016,960
762,720
1,016,960

Amounts falling due after more than 5 years

1,271,200
1,525,440
1,271,200
1,525,440



23.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2023
2022
£
£

Within one year
484,499
486,510

Between 1-5 years
937,445
1,026,164

1,421,944
1,512,674

Page 30

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

24.


Deferred taxation


Group



2023


£






At beginning of year
(734,868)


Charged to profit or loss
(195,166)



At end of year
(930,034)

Group
Group
2023
2022
£
£

Accelerated capital allowances
(930,034)
(734,868)

(930,034)
(734,868)


25.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



500 (2022 - 500) Ordinary shares of £1.00 each
500
500
100 (2022 - 100) Ordinary "A" shares of £1.00 each
100
100
700 (2022 - 700) Ordinary "B" shares of £1.00 each
700
700
700 (2022 - 700) Ordinary "C" shares of £1.00 each
700
700

2,000

2,000



26.


Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group  in an independently administered fund. The pension cost charge represents contributions payable by the group  to the fund and amounted to £41,689 (2021 - £28,067) . Contributions totalling £16,265 (2021 - £13,540) were payable to the fund at the balance sheet date and are included in creditors.

Page 31

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

27.


Commitments under operating leases

At 31 October 2023 the group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2023
2022
£
£

Not later than 1 year
-
19,117

-
19,117

28.


Related party transactions

The directors have an interest in dividends paid in the year of £136,500 (2022: £137,000).
Included in other creditors due within one year are amounts due to the directors of £129,762 (2022: £322,438). 
Included in other loans due within one year are loan notes owed to one of the directors of £254,240 and after more than one year of £1,016,960.
The company has taken the available exemption not to disclose related party transactions with wholly owned subsidiaries as prescribed by FRS 102 s33, as consolidated financial statements are publicly available.


29.


Controlling party

No one individual has control over the entity.

 
Page 32