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REGISTERED NUMBER: SC205983 (Scotland)















Group Strategic Report, Report of the Director and

Consolidated Financial Statements for the Year Ended 30 April 2024

for

Central Group Holdings Limited

Central Group Holdings Limited (Registered number: SC205983)






Contents of the Consolidated Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


Central Group Holdings Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: R J Craig





SECRETARY: Mrs Y Rowland





REGISTERED OFFICE: Central House
Chattan Industrial Estate
Bonnyside Road
Bonnybridge
Stirlingshire
FK4 2AG





REGISTERED NUMBER: SC205983 (Scotland)





AUDITORS: Graham & Co. (Accountants) Limited
Statutory Auditors
Chartered Accountants
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

Central Group Holdings Limited (Registered number: SC205983)

Group Strategic Report
for the Year Ended 30 April 2024

The director presents his strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
The group has continued to invest in the latest demolition plant and equipment available in the marketplace to keep the group at the forefront of the demolition industry

The profit for the year, after taxation, amounted to £128,420 (2023 - £625,537). The turnover increased by 4% to £16,247,728 (2023 - £15,660,019) due to improved market conditions.

The gross profit margin decreased to 19% (2023 - 23%).

The directors are satisfied with the turnover level and gross margins achieved.

The directors and senior management continue to focus on our well proven mainstream works and we continue to seek out and win targeted tender opportunities going forward.

We currently have a balanced workload and order book with ongoing opportunities although we are conscious of cost inflation within the sector that may be reflected in future trading results.

PRINCIPAL RISKS AND UNCERTAINTIES
Financial risk management

The group finances its operations through a mixture of retained profits, banking arrangements and hire purchase financing arrangements where necessary to fund capital expenditure.

The managements objectives are to retain sufficient funds to enable it to meet its day to day obligations as they fall due and match the repayment schedule of any external finance with the future cash flows expected to arise from trading activities and non trade debt repayments.

The group credit risk is attributable to its trade debtors and other debtors arising from financing of non trade activities to related parties. In order to manage risk the directors set limits for trade customers based on a combination of payment history and third party references. Non trade other debtors can be monitored closely due to the directors involvement in such projects.

FUTURE OUTLOOK
As in the wider industry the demolition & recycling market continues to be challenging and unpredictable.However the directors are optimistic about future prospects for the industry and believe that the group is well placed to take advantage of any improvement in market conditions. The group is continually maintaining links with its valued existing client base and is looking to maintain current turnover levels in its core business market of demolition, asbestos removal and recycling as and when market conditions allow.

ON BEHALF OF THE BOARD:





R J Craig - Director


27 January 2025

Central Group Holdings Limited (Registered number: SC205983)

Report of the Director
for the Year Ended 30 April 2024

The director presents his report with the financial statements of the company and the group for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of demolition contracting and associated services.

DIVIDENDS
Interim dividends per share were paid as follows:
£2.50 - 30 April 2024
£2.83 - 31 May 2023
£5.33

The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 April 2024 will be £ 400,000 .

DIRECTOR
R J Craig held office during the whole of the period from 1 May 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





R J Craig - Director


27 January 2025

Report of the Independent Auditors to the Members of
Central Group Holdings Limited

Opinion
We have audited the financial statements of Central Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Central Group Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mis-statements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by for example forgery or intentional misrepresentations or collusion.

We focused on laws and regulations which could give rise to a a material misstatement with the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation.

Our work included agreeing the financial statement disclosures to underlying supporting documentation accompanied by enquiries with management about any known or suspected instances of non-compliance with laws and regulations and fraud - and additionally - reviewing correspondence with regulators; challenging assumptions and judgements of management in relation to accounting estimates.
We also addressed the risk of management over-ride of controls, including testing journal entries and other adjustments for appropriateness and payroll manipulation and segregation of duties.

There are inherent limitations in the audit procedure described above and the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Central Group Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stuart Girvan (Senior Statutory Auditor)
for and on behalf of Graham & Co. (Accountants) Limited
Statutory Auditors
Chartered Accountants
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

27 January 2025

Central Group Holdings Limited (Registered number: SC205983)

Consolidated Income Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

TURNOVER 3 16,247,728 15,660,019

Cost of sales 13,140,182 12,053,463
GROSS PROFIT 3,107,546 3,606,556

Administrative expenses 2,755,324 2,690,090
OPERATING PROFIT 5 352,222 916,466

Interest receivable and similar income 5,567 1,885
357,789 918,351

Interest payable and similar expenses 6 190,368 161,814
PROFIT BEFORE TAXATION 167,421 756,537

Tax on profit 7 39,000 131,000
PROFIT FOR THE FINANCIAL YEAR 128,421 625,537
Profit attributable to:
Owners of the parent 128,421 625,537

Central Group Holdings Limited (Registered number: SC205983)

Consolidated Other Comprehensive Income
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   

PROFIT FOR THE YEAR 128,421 625,537


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

128,421

625,537

Total comprehensive income attributable to:
Owners of the parent 128,421 625,537

Central Group Holdings Limited (Registered number: SC205983)

Consolidated Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 6,804,009 6,877,310
Investments 11 - -
6,804,009 6,877,310

CURRENT ASSETS
Debtors 12 7,860,016 7,544,069
Cash at bank 1,326,974 2,480,045
9,186,990 10,024,114
CREDITORS
Amounts falling due within one year 13 2,667,768 3,081,529
NET CURRENT ASSETS 6,519,222 6,942,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,323,231

13,819,895

CREDITORS
Amounts falling due after more than one
year

14

(914,665

)

(1,178,750

)

PROVISIONS FOR LIABILITIES 18 (255,000 ) (216,000 )
NET ASSETS 12,153,566 12,425,145

CAPITAL AND RESERVES
Called up share capital 19 75,000 75,000
Other reserves 20 (24,997 ) (24,997 )
Retained earnings 20 12,103,563 12,375,142
SHAREHOLDERS' FUNDS 12,153,566 12,425,145

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





R J Craig - Director


Central Group Holdings Limited (Registered number: SC205983)

Company Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 74,999 74,999
74,999 74,999

CURRENT ASSETS
Debtors 12 1 1
NET CURRENT ASSETS 1 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,000

75,000

CAPITAL AND RESERVES
Called up share capital 19 75,000 75,000
SHAREHOLDERS' FUNDS 75,000 75,000

Company's profit for the financial year 400,000 400,000

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:





R J Craig - Director


Central Group Holdings Limited (Registered number: SC205983)

Consolidated Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 May 2022 75,000 12,149,605 (24,997 ) 12,199,608

Changes in equity
Dividends - (400,000 ) - (400,000 )
Total comprehensive income - 625,537 - 625,537
Balance at 30 April 2023 75,000 12,375,142 (24,997 ) 12,425,145

Changes in equity
Dividends - (400,000 ) - (400,000 )
Total comprehensive income - 128,421 - 128,421
Balance at 30 April 2024 75,000 12,103,563 (24,997 ) 12,153,566

Central Group Holdings Limited (Registered number: SC205983)

Company Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 75,000 - 75,000

Changes in equity
Dividends - (400,000 ) (400,000 )
Total comprehensive income - 400,000 400,000
Balance at 30 April 2023 75,000 - 75,000

Changes in equity
Dividends - (400,000 ) (400,000 )
Total comprehensive income - 400,000 400,000
Balance at 30 April 2024 75,000 - 75,000

Central Group Holdings Limited (Registered number: SC205983)

Consolidated Cash Flow Statement
for the Year Ended 30 April 2024

30.4.24 30.4.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,390,522 2,921,452
Interest paid (12,696 ) (11,093 )
Interest element of hire purchase payments
paid

(177,672

)

(150,721

)
Tax paid 196,871 -
Net cash from operating activities 1,397,025 2,759,638

Cash flows from investing activities
Purchase of tangible fixed assets (1,791,303 ) (603,923 )
Sale of tangible fixed assets 286,250 263,773
Interest received 5,567 1,885
Net cash from investing activities (1,499,486 ) (338,265 )

Cash flows from financing activities
Loan repayments in year (203,333 ) (46,666 )
Capital repayments in year (418,074 ) (1,528,533 )
Amount introduced by directors 553,422 489,487
Amount withdrawn by directors (582,625 ) (414,533 )
Equity dividends paid (400,000 ) (400,000 )
Net cash from financing activities (1,050,610 ) (1,900,245 )

(Decrease)/increase in cash and cash equivalents (1,153,071 ) 521,128
Cash and cash equivalents at beginning of
year

2

2,480,045

1,958,917

Cash and cash equivalents at end of year 2 1,326,974 2,480,045

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
30.4.24 30.4.23
£    £   
Profit before taxation 167,421 756,537
Depreciation charges 1,736,654 1,817,624
Profit on disposal of fixed assets (158,301 ) (193,580 )
Finance costs 190,368 161,814
Finance income (5,567 ) (1,885 )
1,930,575 2,540,510
(Increase)/decrease in stocks (487,000 ) 347,000
Decrease/(increase) in trade and other debtors 200,257 (345,702 )
(Decrease)/increase in trade and other creditors (253,310 ) 379,644
Cash generated from operations 1,390,522 2,921,452

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 1,326,974 2,480,045
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 2,480,045 1,958,917


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.5.23 Cash flow At 30.4.24
£    £    £   
Net cash
Cash at bank 2,480,045 (1,153,071 ) 1,326,974
2,480,045 (1,153,071 ) 1,326,974
Debt
Finance leases (2,413,209 ) 418,074 (1,995,135 )
Debts falling due within 1 year (50,000 ) 50,000 -
Debts falling due after 1 year (153,333 ) 153,333 -
(2,616,542 ) 621,407 (1,995,135 )
Total (136,497 ) (531,664 ) (668,161 )

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Central Group Holdings Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
Tangible fixed assets
Tangible fixed assets are depreciated over their estimated useful lives taking into account residual values, where appropriate. The actual lives and residual values are assessed annually. In re-assessing asset lives, factors such as technological innovation, asset life cycle, wear and tear and maintenance programmes are taken into account. Residual value assessment consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Going concern forecasts
The director has used significant judgement in preparing forecasts for the period of 12 months following the signing of the financial statements. These forecasts have been used by the directors in making their assessment of going concern.

Turnover
Turnover represents net invoiced sales and work completed on long term contracts, excluding value added tax.

Turnover on demolition contracts is recognised according to the stage reached in the contract by reference to work completed. Turnover from sales of scrap and other materials is recognised when ownership of goods has passed to the buyer on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided on land
Improvements to property - Over expected lease term
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on reducing balance
Computer equipment - 25% on reducing balance

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and bank balances are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.


Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have no significant doubts over the company's ability to continue as a going concern for the foreseeable future. In coming to their conclusion, the directors have reviewed both the company's current financial position and the projected profit and cash flow forecasts for the coming period. Therefore the directors consider it appropriate to adopt the going concern basis in preparing its financial statements.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

30.4.24 30.4.23
£    £   
Demolition 10,383,757 9,808,147
Sale of scrap & materials etc 2,849,881 2,384,506
Skip hire & recycled materials 3,014,090 3,467,366
16,247,728 15,660,019

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

30.4.24 30.4.23
£    £   
United Kingdom 16,247,728 15,660,019
16,247,728 15,660,019

4. EMPLOYEES AND DIRECTORS
30.4.24 30.4.23
£    £   
Wages and salaries 5,713,693 5,281,320
Social security costs 608,930 568,115
Other pension costs 152,456 146,398
6,475,079 5,995,833

The average number of employees during the year was as follows:
30.4.24 30.4.23

Administration 21 20
Demolition 119 118
140 138

30.4.24 30.4.23
£    £   
Director's remuneration 540,001 540,001
Director's pension contributions to money purchase schemes 25,321 24,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
30.4.24 30.4.23
£    £   
Emoluments etc 270,001 220,001
Pension contributions to money purchase schemes 12,000 12,000

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.4.24 30.4.23
£    £   
Hire of plant and machinery 303,886 278,553
Other operating leases 3,092 3,192
Depreciation - owned assets 901,296 706,378
Depreciation - assets on hire purchase contracts 835,359 1,111,245
Profit on disposal of fixed assets (158,301 ) (193,580 )
Auditors' remuneration 13,250 12,400
Auditors' remuneration for non audit work 7,685 8,680

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.4.24 30.4.23
£    £   
Bank loan interest 12,696 11,093
Hire purchase 177,672 150,721
190,368 161,814

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.4.24 30.4.23
£    £   
Deferred tax 39,000 131,000
Tax on profit 39,000 131,000

UK corporation tax has been charged at 25 % (2023 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.4.24 30.4.23
£    £   
Profit before tax 167,421 756,537
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

41,855

143,742

Effects of:
Capital allowances in excess of depreciation (2,855 ) (12,742 )


Total tax charge 39,000 131,000

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
30.4.24 30.4.23
£    £   
Ordinary shares of £1 each
Interim 400,000 400,000

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2023 283,900 836,985 18,306,949
Additions - - 297,767
Disposals - - (1,191,947 )
At 30 April 2024 283,900 836,985 17,412,769
DEPRECIATION
At 1 May 2023 - 579,697 13,624,001
Charge for year - 32,160 1,204,769
Eliminated on disposal - - (1,180,312 )
At 30 April 2024 - 611,857 13,648,458
NET BOOK VALUE
At 30 April 2024 283,900 225,128 3,764,311
At 30 April 2023 283,900 257,288 4,682,948

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 5,058,304 399,917 24,886,055
Additions 1,483,633 9,903 1,791,303
Disposals (983,712 ) (203,985 ) (2,379,644 )
At 30 April 2024 5,558,225 205,835 24,297,714
DEPRECIATION
At 1 May 2023 3,445,211 359,836 18,008,745
Charge for year 489,735 9,991 1,736,655
Eliminated on disposal (870,619 ) (200,764 ) (2,251,695 )
At 30 April 2024 3,064,327 169,063 17,493,705
NET BOOK VALUE
At 30 April 2024 2,493,898 36,772 6,804,009
At 30 April 2023 1,613,093 40,081 6,877,310

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 4,186,918 1,609,320 5,796,238
Additions 125,000 1,344,702 1,469,702
Transfer to ownership (1,225,575 ) (737,613 ) (1,963,188 )
At 30 April 2024 3,086,343 2,216,409 5,302,752
DEPRECIATION
At 1 May 2023 1,499,848 539,955 2,039,803
Charge for year 567,542 267,817 835,359
Transfer to ownership (756,583 ) (269,794 ) (1,026,377 )
At 30 April 2024 1,310,807 537,978 1,848,785
NET BOOK VALUE
At 30 April 2024 1,775,536 1,678,431 3,453,967
At 30 April 2023 2,687,070 1,069,365 3,756,435

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

11. FIXED ASSET INVESTMENTS

Company
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 74,999
NET BOOK VALUE
At 30 April 2024 74,999
At 30 April 2023 74,999

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

Subsidiaries

Central Demolition Limited
Registered office: Central House, Chattan Industrial Estate, Bonnyside Road, Bonnybridge, FK4 2AG
Nature of business: Demolition
%
Class of shares: holding
Ordinary 100.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 8,008,612 8,006,624
Profit for the year 1,988 157,447

Central Recycling Limited
Registered office: Central House, Chattan Industrial Estate, Bonnyside Road, Bonnybridge, FK4 2AG
Nature of business: Recycling
%
Class of shares: holding
Ordinary 100.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 4,144,951 4,418,521
(Loss)/profit for the year (273,568 ) 68,090


Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.4.24 30.4.23 30.4.24 30.4.23
£    £    £    £   
Trade debtors 817,882 1,254,053 - -
Amounts recoverable on contract 1,576,000 1,089,000 - -
Other debtors 159,723 200,091 1 1
Chieftain Contracts Limited - (16,961 ) - -
Clydeside Regeneration Limited 1,873,105 1,873,105 - -
Broomside Developments 432,584 462,584 - -
Clydeside Property Services Limited 2,687,621 2,416,299 - -
Directors' current accounts 277,101 247,898 - -
Prepayments and accrued income 36,000 18,000 - -
7,860,016 7,544,069 1 1

Debtors includes amounts with no fixed repayment terms and as such they are treated as being due within one year. Amounts due of £1,873,105 to Clydeside Regeneration Ltd and £2,687,621 to Clydeside Property Services Ltd are related to long term property development and therefore may not be repaid in full within one year.

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 15) - 50,000
Hire purchase contracts (see note 16) 1,080,470 1,387,792
Trade creditors 468,891 542,030
Tax (84,123 ) (280,994 )
Social security and other taxes 186,768 142,570
VAT 442,688 330,030
Other creditors 199,548 197,920
Accruals and deferred income - 239,000
Accrued expenses 373,526 473,181
2,667,768 3,081,529

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30.4.24 30.4.23
£    £   
Bank loans (see note 15) - 153,333
Hire purchase contracts (see note 16) 914,665 1,025,417
914,665 1,178,750

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

15. LOANS

An analysis of the maturity of loans is given below:

Group
30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 50,000
Amounts falling due between one and two years:
Bank loans - 1-2 years - 50,000
Amounts falling due between two and five years:
Bank loans - 2-5 years - 103,333

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 1,080,470 1,387,792
Between one and five years 914,665 1,025,417
1,995,135 2,413,209

17. SECURED DEBTS

The following secured debts are included within creditors:

Group
30.4.24 30.4.23
£    £   
Bank loans - 203,333
Hire purchase contracts 1,995,135 2,413,209
1,995,135 2,616,542

The bank overdraft facility is secured by way of a bond and floating charge over the assets of a group company.

18. PROVISIONS FOR LIABILITIES

Group
30.4.24 30.4.23
£    £   
Deferred tax 255,000 216,000

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 May 2023 216,000
Charge for year 39,000
Balance at 30 April 2024 255,000

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
75,000 Ordinary £1 75,000 75,000

20. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1 May 2023 12,375,142 (24,997 ) 12,350,145
Profit for the year 128,421 128,421
Dividends (400,000 ) (400,000 )
At 30 April 2024 12,103,563 (24,997 ) 12,078,566


21. PENSION COMMITMENTS

The group operates a defined contribution pension scheme for the director and it's senior staff. The contributions paid into the scheme during the year amounted to £152,456 (2023 - £146,398).

22. CONTINGENT LIABILITIES

A third party company guarantee exists in favour of The Royal Bank of Scotland Plc (to a limit of £2,113,621). This relates to loan finance provided to Clydeside Property Services Ltd ; supported by a bond and floating charge. The balance of the finance serviced by Central Demolition Ltd in this regard was £676,264 at 30 April 2024.

Central Group Holdings Limited (Registered number: SC205983)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 April 2024

23. RELATED PARTY DISCLOSURES

Cost of sales includes £99,265 for services provided by Central Demolition Recycling Ltd. Other debtors includes amounts due by the directors of £277,101..

Included within trade / other debtors and trade creditors are:
30.4.24 30.4.23
£    £   
Chieftain Contracts Limited 179,352 279,352
(a company in which RJ Craig is also a director and shareholder)
Central Demolition Recycling Limited 2,639 (85,325 )
(a company controlled by a director of Central Demolition Ltd )
Broomside Property Developments 432,584 462,584
(an entity in which the director is a partner)
Clydeside Property Services Limited 2,687,621 2,416,299
(a company in which RJ Craig is also a director and shareholder)
Clydeside Regeneration Ltd 1,873,105 1,873,105
(a company in which RJ Craig is also a director and shareholder)