Centodec Limited 04386949 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of development and selling real estate, buying and selling own real estate and letting of own property. Digita Accounts Production Advanced 6.30.9574.0 true true 04386949 2023-04-01 2024-03-31 04386949 2024-03-31 04386949 core:CurrentFinancialInstruments 2024-03-31 04386949 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04386949 core:FurnitureFittingsToolsEquipment 2024-03-31 04386949 bus:SmallEntities 2023-04-01 2024-03-31 04386949 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04386949 bus:FullAccounts 2023-04-01 2024-03-31 04386949 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04386949 bus:RegisteredOffice 2023-04-01 2024-03-31 04386949 bus:Director2 2023-04-01 2024-03-31 04386949 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04386949 core:FurnitureFittings 2023-04-01 2024-03-31 04386949 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04386949 countries:EnglandWales 2023-04-01 2024-03-31 04386949 2023-03-31 04386949 core:FurnitureFittingsToolsEquipment 2023-03-31 04386949 2022-04-01 2023-03-31 04386949 2023-03-31 04386949 core:CurrentFinancialInstruments 2023-03-31 04386949 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04386949 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04386949

Centodec Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Centodec Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Centodec Limited

(Registration number: 04386949)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,612

5,584

Investment property

5

3,020,361

2,580,000

 

3,024,973

2,585,584

Current assets

 

Debtors

6

29,463

9,153

Cash at bank and in hand

 

86,913

394,874

 

116,376

404,027

Creditors: Amounts falling due within one year

7

(2,413,386)

(2,320,418)

Net current liabilities

 

(2,297,010)

(1,916,391)

Total assets less current liabilities

 

727,963

669,193

Provisions for liabilities

(3,023)

(1,061)

Net assets

 

724,940

668,132

Capital and reserves

 

Called up share capital

100

100

Other reserves

82,544

95,207

Retained earnings

642,296

572,825

Shareholders' funds

 

724,940

668,132

 

Centodec Limited

(Registration number: 04386949)
Statement of Financial Position as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 1 October 2024 and signed on its behalf by:
 

Mr A Ghiassi
Director

   
     
 

Centodec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tustin House
Red Scar Business Park
Longridge Road
Preston
Lancashire
PR2 5NE

These financial statements were authorised for issue by the Board on 1 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurances from the directors that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of approval of these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

 

Centodec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rent and the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Centodec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

41,500

41,500

Additions

474

474

At 31 March 2024

41,974

41,974

Depreciation

At 1 April 2023

35,916

35,916

Charge for the year

1,446

1,446

At 31 March 2024

37,362

37,362

Carrying amount

At 31 March 2024

4,612

4,612

At 31 March 2023

5,584

5,584

5

Investment properties

2024
£

At 1 April

2,580,000

Additions

440,361

At 31 March

3,020,361

The investment properties were valued at £2,580,000 (2023: £2,580,000) by the directors after seeking independent valuation advice. The historical cost of the investment properties is £2,467,456.

6

Debtors

Current

2024
£

2023
£

Trade debtors

12,129

2,412

Prepayments

17,334

6,741

 

29,463

9,153

 

Centodec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18,671

6,465

Taxation and social security

32,604

24,565

Accruals and deferred income

49,039

42,538

Other creditors

2,313,072

2,246,850

2,413,386

2,320,418

8

Related party transactions

Included in other creditors repayable within 1 year are non-interest bearing directors loans, payable on demand of £2,311,375 (2023: £2,246,850).