Company registration number 01139256 (England and Wales)
CENTRIC INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
CENTRIC INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
R J Midda
D Midda
J P Midda
J Midda
Secretary
R J Midda
Company number
01139256
Registered office
5 Technology Park
Colindeep Lane
London
United Kingdom
NW9 6BX
Accountants
Grunberg & Co Ltd
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
CENTRIC INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
CENTRIC INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
12,750,000
12,575,000
Current assets
Debtors
5
1,460,625
1,432,524
Cash at bank and in hand
271,220
295,424
1,731,845
1,727,948
Creditors: amounts falling due within one year
6
(4,013,596)
(4,370,963)
Net current liabilities
(2,281,751)
(2,643,015)
Total assets less current liabilities
10,468,249
9,931,985
Creditors: amounts falling due after more than one year
7
(1,100,000)
(1,100,000)
Provisions for liabilities
(1,839,286)
(1,795,536)
Net assets
7,528,963
7,036,449
Capital and reserves
Called up share capital
100
100
Other reserves
6,781,890
6,650,640
Profit and loss reserves
746,973
385,709
Total equity
7,528,963
7,036,449
CENTRIC INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 7 July 2025 and are signed on its behalf by:
D Midda
Director
Company registration number 01139256 (England and Wales)
CENTRIC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Centric Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, London, United Kingdom, NW9 6BX.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rental income received from the company's investment properties net of value added tax. Rental income is recognised on a calendar basis.
1.3
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:
Computers
33.33% on cost
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in other fixed assets at cost less accumulated depreciation and accumulated impairment losses.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
CENTRIC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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 statement of financial position 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. Financial assets classified as receivable within one year are not amortised.
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, 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.
1.7
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 income statement 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 income statement, 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.
CENTRIC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
4
4
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2024 and 31 March 2025
833
Depreciation and impairment
At 1 April 2024 and 31 March 2025
833
Carrying amount
At 31 March 2025
At 31 March 2024
4
Investment property
2025
£
Fair value
At 1 April 2024
12,575,000
Revaluations
175,000
At 31 March 2025
12,750,000
Investment property was valued on an open market value basis on the 31 March 2025 by the directors, with no change being needed.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
91,146
112,779
Amounts owed by group undertakings
1,210,008
1,199,898
Other debtors
122,307
119,093
Prepayments and accrued income
37,164
754
1,460,625
1,432,524
CENTRIC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
24,834
14,381
Amounts owed to group undertakings
3,548,619
3,973,491
Corporation tax
3,167
Other taxation and social security
37,338
23,930
Other creditors
227,746
204,971
Accruals and deferred income
171,892
154,190
4,013,596
4,370,963
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
1,100,000
1,100,000
8
Mortgage guarantee
The long-term loans are secured by a mortgage debenture dated 10 November 2020, being fixed and floating charges over all assets of the group undertakings.
The company has entered into cross guarantees and indemnities, along with other group companies, to provide security in respect of group obligations to its bankers. The company has also entered into a composite debenture, along with other group companies, involving the creation of fixed and floating charges, over all the assets of the company.