Company registration number SC249617 (Scotland)
CENTOTRE LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
CENTOTRE LTD.
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CENTOTRE LTD.
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
836,614
874,313
Investments
5
2
2
836,616
874,315
Current assets
Stocks
62,619
60,843
Debtors
6
280,544
303,320
Cash at bank and in hand
413,456
290,379
756,619
654,542
Creditors: amounts falling due within one year
7
(1,342,428)
(1,168,191)
Net current liabilities
(585,809)
(513,649)
Total assets less current liabilities
250,807
360,666
Creditors: amounts falling due after more than one year
8
(41,500)
(97,945)
Provisions for liabilities
(148,352)
(153,911)
Net assets
60,955
108,810
Capital and reserves
Called up share capital
9
5,004
5,004
Share premium account
23
23
Profit and loss reserves
55,928
103,783
Total equity
60,955
108,810

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

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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.

CENTOTRE LTD.
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
Mrs C Contini
Director
Company Registration No. SC249617
CENTOTRE LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Centotre Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 103 George Street, Edinburgh, United Kingdom, EH2 3ES.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Intangible fixed assets other than goodwill

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation 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:

Computer Software
Over its estimated useful life of three years
1.4
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:

Long leasehold
No depreciation
Improvements to property
5% on reducing balance
Plant and machinery
15% on reducing balance
Fixtures and fittings
12% on reducing balance
Computer equipment
33% on cost
CENTOTRE LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Investments in subsidiary undertakings are recognised at cost.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.7
Stocks

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

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

 

1.11
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.

CENTOTRE LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Leases

Assets obtained under hire purchase 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 depreciation 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.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
140
107
3
Intangible fixed assets
Computer Software
£
Cost
At 1 July 2023 and 30 June 2024
12,499
Amortisation and impairment
At 1 July 2023 and 30 June 2024
12,499
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
CENTOTRE LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Long leasehold
Improvements to property
Plant and machinery
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 July 2023
53,691
974,037
681,764
807,194
66,753
2,583,439
Additions
-
0
-
0
40,618
9,504
4,116
54,238
At 30 June 2024
53,691
974,037
722,382
816,698
70,869
2,637,677
Depreciation and impairment
At 1 July 2023
-
0
614,848
435,264
595,869
63,145
1,709,126
Depreciation charged in the year
-
0
29,285
37,259
23,388
2,005
91,937
At 30 June 2024
-
0
644,133
472,523
619,257
65,150
1,801,063
Carrying amount
At 30 June 2024
53,691
329,904
249,859
197,441
5,719
836,614
At 30 June 2023
53,691
359,189
246,500
211,325
3,608
874,313
CENTOTRE LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
2
2
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 July 2023 & 30 June 2024
2
Carrying amount
At 30 June 2024
2
At 30 June 2023
2
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
47,318
70,127
Other debtors
233,226
233,193
280,544
303,320
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
49,800
91,219
Trade creditors
393,873
396,933
Taxation and social security
442,390
383,071
Other creditors
456,365
296,968
1,342,428
1,168,191
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
41,500
97,945
CENTOTRE LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
5,000
5,000
5,000
5,000
Ordinary A Shares of £1 each
3
3
3
3
Ordinary B Shares of £1 each
1
1
1
1
5,004
5,004
5,004
5,004
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
18,150
-
0
11
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Amounts due to related parties
27,022
-

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Amounts due to related parties
47,318
135,943
12
Directors' transactions

 

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director's Loan
-
58,815
93,786
(63,269)
89,332
58,815
93,786
(63,269)
89,332
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