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REGISTERED NUMBER: 10127787 (England and Wales)















Centiel (Holdings) Ltd.

Unaudited Financial Statements

for the Year Ended 31 December 2023






Centiel (Holdings) Ltd. (Registered number: 10127787)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Centiel (Holdings) Ltd.

Company Information
for the year ended 31 December 2023







Directors: D H Bond
P F J Marbach





Registered office: Faraday House
Caker Stream Road
Alton
Hampshire
GU34 2QF





Registered number: 10127787 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Centiel (Holdings) Ltd. (Registered number: 10127787)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 4 626,703 586,847

Current assets
Debtors 5 1,563 -
Cash at bank and in hand 11,567 15,421
13,130 15,421
Creditors
Amounts falling due within one year 6 58,741 4,637
Net current (liabilities)/assets (45,611 ) 10,784
Total assets less current liabilities 581,092 597,631

Creditors
Amounts falling due after more than one
year

7

810,545

771,947
Net liabilities (229,453 ) (174,316 )

Capital and reserves
Called up share capital 50,000 50,000
Retained earnings (279,453 ) (224,316 )
Shareholders' funds (229,453 ) (174,316 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and loss has not been delivered.

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





D H Bond - Director


Centiel (Holdings) Ltd. (Registered number: 10127787)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Centiel (Holdings) Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Investments in subsidiaries
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit and loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments
Basic financial assets, which include cash and bank balances, are measured at transaction price.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Centiel (Holdings) Ltd. (Registered number: 10127787)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Going concern
The company has net liabilities at the year end. However, the directors consider the going concern basis appropriate due to the continuing support support of the parent company and assurance that intercompany loans and loan note debt will not be called upon or repaid until there are sufficient funds available.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

4. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2023 586,847
Additions 56,348
Disposals (16,492 )
At 31 December 2023 626,703
Net book value
At 31 December 2023 626,703
At 31 December 2022 586,847

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Centiel UK Limited
Registered office: Faraday House, Caker Stream Road, Alton, Hampshire, GU34 2QF
Nature of business: Sales of critical power production products
%
Class of shares: holding
Ordinary shares 100.00

5. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 1,563 -

6. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 56,341 3,437
Accrued expenses 2,400 1,200
58,741 4,637

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Debt element of loan notes 600,000 600,000
Interest charged on loan notes 210,545 171,947
810,545 771,947

Centiel (Holdings) Ltd. (Registered number: 10127787)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. Creditors: amounts falling due after more than one year - continued

Loan notes comprise of an initial debt element of £600,000 which attract interest of 5% compounded annually. All loan notes are redeemable at par and are expected to be repaid when the company is financial able to.

The balance represents interest that has accrued annually but has not been paid to the subscriber.

8. Ultimate controlling party

The ultimate controlling party is Centiel SA.