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REGISTERED NUMBER: 05544950 (England and Wales)















Centiel UK Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Centiel UK Limited (Registered number: 05544950)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Centiel UK Limited

Company Information
for the year ended 31 December 2024







Directors: D H Bond
J Kreyling





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





Registered number: 05544950 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Centiel UK Limited (Registered number: 05544950)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 709,235 465,936

Current assets
Stocks 425,349 323,097
Debtors 5 1,359,302 1,064,399
Cash at bank 360,235 222,209
2,144,886 1,609,705
Creditors
Amounts falling due within one year 6 1,764,518 1,275,576
Net current assets 380,368 334,129
Total assets less current liabilities 1,089,603 800,065

Creditors
Amounts falling due after more than one
year

7

(217,876

)

(59,322

)

Provisions for liabilities (57,714 ) (33,119 )
Net assets 814,013 707,624

Capital and reserves
Called up share capital 9 1,000 1,000
Revaluation reserve 78,750 78,750
Capital redemption reserve 1,000 1,000
Retained earnings 733,263 626,874
Shareholders' funds 814,013 707,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

Centiel UK Limited (Registered number: 05544950)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





J Kreyling - Director


Centiel UK Limited (Registered number: 05544950)

Notes to the Financial Statements
for the year ended 31 December 2024


1. Statutory information

Centiel UK Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable for goods and services provided in the year and is stated net of VAT.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings freeholdHeld at fair value
Plant and Machinery25% reducing balance
Fixtures, fittings & equipment25% reducing balance
Computer equipment25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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

Centiel UK Limited (Registered number: 05544950)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. Accounting policies - continued

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 bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

3. Employees and directors

The average number of employees during the year was 22 (2023 - 21 ) .

4. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Cost or valuation
At 1 January 2024 435,000 17,880 18,083
Additions - 265 8,618
At 31 December 2024 435,000 18,145 26,701
Depreciation
At 1 January 2024 - 8,955 8,276
Charge for year - 2,301 3,594
At 31 December 2024 - 11,256 11,870
Net book value
At 31 December 2024 435,000 6,889 14,831
At 31 December 2023 435,000 8,925 9,807

Centiel UK Limited (Registered number: 05544950)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£ £ £
Cost or valuation
At 1 January 2024 - 28,290 499,253
Additions 285,636 4,529 299,048
At 31 December 2024 285,636 32,819 798,301
Depreciation
At 1 January 2024 - 16,086 33,317
Charge for year 46,330 3,524 55,749
At 31 December 2024 46,330 19,610 89,066
Net book value
At 31 December 2024 239,306 13,209 709,235
At 31 December 2023 - 12,204 465,936

The freehold property has not been depreciated in the year as it is held at fair value. A revaluation was carried out by an estate agents. The freehold property was valued at £435,000. The directors have considered the fair value of the property and deemed it unnecessary for an independent survey to be carried out, and that no impairment is required.

Cost or valuation at 31 December 2022 is represented by:


Freehold
property
£
Historical cost bfwd330,000
Valuations bfwd 105,000
435,000

5. Debtors
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 1,250,037 988,145
Other debtors 106,204 76,254
1,356,241 1,064,399

Amounts falling due after more than one year:
Amounts owed by group undertakings 3,061 -

Aggregate amounts 1,359,302 1,064,399

Centiel UK Limited (Registered number: 05544950)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 33,509 33,509
Hire purchase contracts (see note 8) 53,889 -
Trade creditors 611,710 453,901
Taxation and social security 319,423 224,764
Other creditors 745,987 563,402
1,764,518 1,275,576

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 27,735 59,322
Hire purchase contracts (see note 8) 190,141 -
217,876 59,322

There is a fixed and floating charge over the assets of the company, secured by the above loan.

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 53,889 -
Between one and five years 190,141 -
244,030 -

Non-cancellable
operating leases
2024 2023
£ £
Within one year 15,917 57,978
Between one and five years 4,015 19,932
19,932 77,910

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary shares 1 1,000 1,000

10. Ultimate controlling party

The ultimate controlling party of the company in the year was Centiel SA, whereby the principal place of business is Via alla Stampa 15, 6965 Lugano, Switzerland.