Company Registration No. 01479465 (England and Wales)
CENTURION SECURITIES & INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CENTURION SECURITIES & INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CENTURION SECURITIES & INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
650
315
Current assets
Stocks
150,498
150,498
Debtors
4
532,775
233,502
Cash at bank and in hand
90,253
143,441
773,526
527,441
Creditors: amounts falling due within one year
5
(602)
(247,135)
Net current assets
772,924
280,306
Total assets less current liabilities
773,574
280,621
Creditors: amounts falling due after more than one year
6
(500,693)
-
0
Net assets
272,881
280,621
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss reserves
222,881
230,621
Total equity
272,881
280,621

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 25 February 2025
I Abraham
Director
Company Registration No. 01479465
CENTURION SECURITIES & INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Centurion Securities and Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, NW1 3ER, United Kingdom.

1.1
Accounting convention

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 view.

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 £.

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

1.2
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

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

1.6
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 assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs 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.

CENTURION SECURITIES & INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
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.

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 and bank loans, 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.

 

2
Employees

There were no employees during the current or previous year.

3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023
6,776
Additions
655
At 31 March 2024
7,431
Depreciation and impairment
At 1 April 2023
6,461
Depreciation charged in the year
320
At 31 March 2024
6,781
Carrying amount
At 31 March 2024
650
At 31 March 2023
315
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
531,742
231,644
Prepayments
1,033
1,858
532,775
233,502
CENTURION SECURITIES & INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
-
0
246,913
Accruals
602
222
602
247,135
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
500,693
-
0

During the year, the company has received an interest-only bank loan of £500,000, with term of 120 months from June 2023. Interest is charged at a fixed rate of 5.44% for the first 60 months, to be followed by a variable rate for the remaining loan term.

 

The loan is secured by a fixed charge, floating charge and negative pledge in favour of the lender over the properties held at Brookfield Court and Pankhurst Road.

Creditors which fall due after five years are as follows:
Payable other than by instalments
500,693
-
7
Related party transactions

Other debtors represents an amount of £531,742 (2023: £231,644) owed by Senate Finance Limited, a company under common control.

 

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