Registered number
11055414
SENTRO PROPERTIES LTD
Filleted Accounts
30 November 2023
SENTRO PROPERTIES LTD
Registered number: 11055414
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 692,048 447,177
Current assets
Debtors 4 47,500 47,500
Cash at bank and in hand 20,208 96,655
67,708 144,155
Creditors: amounts falling due within one year 5 (280,745) (109,698)
Net current liabilities (213,037) 34,457
Total assets less current liabilities 479,011 481,634
Creditors: amounts falling due after more than one year 6 (554,118) (377,265)
Provisions for liabilities (39,179) (39,179)
Net liabilities (114,286) 65,190
Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 191,287 191,287
Profit and loss account (305,575) (126,099)
Shareholders' funds (114,286) 65,190
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Trojak
Director
Approved by the board on 27 August 2024
SENTRO PROPERTIES LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties Fixtures & Fittings Total
£ £ £
Cost
At 1 December 2022 439,149 17,405 456,554
Additions 261,432 74,773 336,205
Surplus on revaluation (74,773) - (74,773)
At 30 November 2023 625,808 92,178 717,986
Depreciation
At 1 December 2022 - 9,377 9,377
Charge for the year - 16,561 16,561
At 30 November 2023 - 25,938 25,938
Net book value
At 30 November 2023 625,808 66,240 692,048
At 30 November 2022 439,149 8,028 447,177
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 47,500 47,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,225 300
Trade creditors 42,984 43,136
Amounts owed to group undertakings and undertakings in which the company has a participating interest 153,929 4,329
Taxation and social security costs 1,865 11,636
Other creditors 78,742 50,297
280,745 109,698
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 554,118 377,265
7 Revaluation reserve 2023 2022
£ £
At 1 December 2022 191,287 191,287
At 30 November 2023 191,287 191,287
8 Other information
SENTRO PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
50 Bryn Celyn
Colwyn Bay
Conwy
LL29 6DH
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