Company Registration No. 11020762 (England and Wales)
CENTURO GLOBAL LIMITED
Unaudited accounts
for the year ended 31 October 2023
CENTURO GLOBAL LIMITED
Unaudited accounts
Contents
CENTURO GLOBAL LIMITED
Company Information
for the year ended 31 October 2023
Directors
Z Ali
A D Watts
W J Flind
A Bashir
Company Number
11020762 (England and Wales)
Registered Office
30 CHURCHILL PLACE
LONDON
E14 5RE
ENGLAND
Accountants
Liberate Accountants Ltd
Crown House, 27 Old Gloucester Street
London
WC1N 3AX
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
CENTURO GLOBAL LIMITED
for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
CENTURO GLOBAL LIMITED for the year ended
31 October 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Liberate Accountants Ltd
Chartered Certified Accountants
Crown House, 27 Old Gloucester Street
London
WC1N 3AX
12 August 2024
CENTURO GLOBAL LIMITED
Statement of financial position
as at 31 October 2023
Tangible assets
15,369
10,244
Cash at bank and in hand
2,197,624
94,749
Creditors: amounts falling due within one year
(330,777)
(370,218)
Net current assets
2,255,527
29,363
Total assets less current liabilities
2,270,896
43,867
Creditors: amounts falling due after more than one year
(8,031)
(313,333)
Net assets/(liabilities)
2,262,865
(269,466)
Called up share capital
190
125
Share premium
3,832,585
199,975
Profit and loss account
(1,569,910)
(469,566)
Shareholders' funds
2,262,865
(269,466)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by
Z Ali
Director
Company Registration No. 11020762
CENTURO GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 October 2023
CENTURO GLOBAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11020762. The registered office is 30 CHURCHILL PLACE, LONDON, E14 5RE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Expenditure on research and development is written off in the year in which it is incurred.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line
Computer equipment
25% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
CENTURO GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Upon reviewing the Balance Sheet and projected cash flows at the time of approval, the directors believe that, based on the financial support received, post-year-end expenditure rates, and adjustments to discretionary spending, the Company has enough resources to maintain operations and meet financial obligations for at least 12 months from the date these financial statements were signed. Thus, they have continued to prepare the financial statements on a going concern basis.
The accounts have been restated to incorporate the impact of a misclassification of deferred income related to subscriptions and memberships and omission of several transactions from the books. The change has resulted in net assets at 31 October 2022 increasing by £35,358
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
2,202
17,457
19,659
At 31 October 2023
2,202
29,305
31,507
At 1 November 2022
866
8,549
9,415
Charge for the year
551
6,172
6,723
At 31 October 2023
1,417
14,721
16,138
At 31 October 2023
785
14,584
15,369
At 31 October 2022
1,336
8,908
10,244
CENTURO GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
345,179
262,363
Accrued income and prepayments
29,398
1,338
Other debtors
14,103
41,131
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,302
5,000
Trade creditors
154,721
104,184
Taxes and social security
110,362
36,710
Loans from directors
(14,902)
188,108
Deferred income
28,444
33,007
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1,902,806 Ordinary shares of £0.0001 each
190.28
125.00
Shares issued during the period:
652,806 Ordinary shares of £0.0001 each
65.28
The loan amounting to £14,902 was granted to the director. This was fully repaid by February 2024. The loan was unsecured and repayable on demand. The interest was charged as per the HMRC official rate.
11
Average number of employees
During the year the average number of employees was 15 (2022: 11).