Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11742292 Mr James Creese Mr Karl Mitchell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11742292 2022-12-31 11742292 2023-12-31 11742292 2023-01-01 2023-12-31 11742292 frs-core:CurrentFinancialInstruments 2023-12-31 11742292 frs-core:Non-currentFinancialInstruments 2023-12-31 11742292 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11742292 frs-core:PlantMachinery 2023-12-31 11742292 frs-core:PlantMachinery 2023-01-01 2023-12-31 11742292 frs-core:PlantMachinery 2022-12-31 11742292 frs-core:ShareCapital 2023-12-31 11742292 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11742292 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11742292 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11742292 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11742292 frs-bus:SmallEntities 2023-01-01 2023-12-31 11742292 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11742292 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11742292 frs-bus:Director1 2023-01-01 2023-12-31 11742292 frs-bus:Director2 2023-01-01 2023-12-31 11742292 frs-countries:EnglandWales 2023-01-01 2023-12-31 11742292 2021-12-31 11742292 2022-12-31 11742292 2022-01-01 2022-12-31 11742292 frs-core:CurrentFinancialInstruments 2022-12-31 11742292 frs-core:Non-currentFinancialInstruments 2022-12-31 11742292 frs-core:ShareCapital 2021-12-31 11742292 frs-core:ShareCapital 2022-12-31 11742292 frs-core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11742292 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2021-12-31 11742292 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11742292
THE CENT.RE GROUP LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 11742292
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,987 29,258
26,987 29,258
CURRENT ASSETS
Stocks 5 100 -
Debtors 6 10,614 14,859
Cash at bank and in hand 19,648 23,951
30,362 38,810
Creditors: Amounts Falling Due Within One Year 7 (23,504 ) (24,474 )
NET CURRENT ASSETS (LIABILITIES) 6,858 14,336
TOTAL ASSETS LESS CURRENT LIABILITIES 33,845 43,594
Creditors: Amounts Falling Due After More Than One Year 8 (3,542 ) (12,092 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,127 ) (5,572 )
NET ASSETS 25,176 25,930
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 25,174 25,928
SHAREHOLDERS' FUNDS 25,176 25,930
Page 1
Page 2
For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Creese
Director
Mr Karl Mitchell
Director
18/04/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 2 13,929 13,931
Profit for the year and total comprehensive income - 15,999 15,999
Dividends paid - (4,000) (4,000)
As at 31 December 2022 and 1 January 2023 2 25,928 25,930
Profit for the year and total comprehensive income - 10,246 10,246
Dividends paid - (11,000) (11,000)
As at 31 December 2023 2 25,174 25,176
Page 3
Page 4
Notes to the Financial Statements
1. General Information
THE CENT.RE GROUP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11742292 . The registered office is Centre For Advanced Industry, Coble Dene, North Shields, Tyne And Wear, NE29 6DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance
Computer Equipment 20% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 4
Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 46,498
Additions 3,919
As at 31 December 2023 50,417
Depreciation
As at 1 January 2023 17,240
Provided during the period 6,190
As at 31 December 2023 23,430
Net Book Value
As at 31 December 2023 26,987
As at 1 January 2023 29,258
5. Stocks
2023 2022
£ £
Stock 100 -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 8,190 12,834
Prepayments and accrued income 1,324 925
Other debtors 1,100 1,100
10,614 14,859
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,657 6,368
Bank loans and overdrafts 2,500 2,500
Corporation tax 2,826 1,716
Other taxes and social security 197 -
VAT 3,466 5,806
Accruals and deferred income 55 1,108
Directors' loan accounts 10,803 6,976
23,504 24,474
Page 5
Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 3,542 6,042
Directors loan account - 6,050
3,542 12,092
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr James Creese 5,500 2,000
Mr Karl Mitchell 5,500 2,000
Page 6