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Registered number: 11052713









CENTAUR GROUP LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CENTAUR GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
M H Sims Esq 
P D Sims Esq 
R A Sims Esq 




Registered number
11052713



Registered office
Unit 34 & 35 Acorn Industrial Park
Acorn Road

Dartford

DA1 4AL




Independent auditors
Barnes Roffe Audit Limited
Chartered Accountants & Statutory Auditor

Charles Lake House

Claire Causeway

Crossways Business Park

Dartford

Kent

DA2 6QA





 
CENTAUR GROUP LIMITED
 

CONTENTS



Page
Group strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 7
Consolidated statement of 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 statement of cash flows
 
13 - 14
Notes to the financial statements
 
15 - 33


 
CENTAUR GROUP LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

Introduction
 
The directors present their strategic report accompanying the financial statements for the year ended 31 October 2024.

Business review
 
The principal activity of the group in the year under review was the provision of vehicles for hire with a driver.
During the year, the directors continued to invest heavily in the group’s growth, focusing on vehicle renewals, the development of IT systems—including research into the potential benefits of AI—and an increase in staff numbers. These efforts have contributed significantly to progress toward the group’s objectives.
A key highlight has been the continued work toward a zero-carbon operation, with increased investment in zero- and low-emission vehicles, as well as the necessary supporting infrastructure and training. The group has also maintained its carbon neutral status through ongoing investment in carbon offsetting.
Key Performance Indicators
The group’s key performance indicators are turnover and profit from ordinary activities before taxation. The directors were satisfied with the group's performance against these objectives in 2024.
During the year, the group successfully met management targets for sales and underlying profit, leading to overall growth.                   

Principal risks and uncertainties
 
The directors believe the primary risk to the business is uncertainty in the global and national political landscape, including widespread changes in employment law following the change in the UK Government, as well as disruptions to the supply chain resulting from government changes in the USA. The directors continue to work to reduce and remove any impact of these changes where possible.

Financial key performance indicators
 
The group scales revenue growth, while maintaining gross margins and without increasing headcount proportionally, by levering robust internal platforms and capitalising on digital development. The group therefore focuses on the key metrics of revenue growth, gross margin, and underlying net profit.

Other key performance indicators
 
The company measures KPI’s delivered by individual staff members and has structured remuneration packages to reward strong performance.


This report was approved by the board on 22 July 2025 and signed on its behalf.



R A Sims Esq
Director

Page 1

 
CENTAUR GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to:


select suitable accounting policies for the group's financial statements and then apply them consistently;

make judgments 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 group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are 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.

Results and dividends

The profit for the year, after taxation, amounted to £1,632,369 (2023 - £1,165,312).

Dividends amounting to £136,500 (2022: £137,000) were voted during the year.

Directors

The directors who served during the year were:

M H Sims Esq 
P D Sims Esq 
R A Sims Esq 

Page 2

 
CENTAUR GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024

Future developments

There are no future developments that the directors are aware of.

Staff policy
The company’s employment practices are designed to meet statutory, social, and market expectations within the United Kingdom. We are committed to ensuring that our workplace remains inclusive, equitable, and supportive of all employees.
If an employee becomes disabled while in service, we take all reasonable steps to adjust their role, working environment, or provide suitable retraining to support continued employment. Decisions regarding recruitment, development, and promotion are based solely on individual merit and capability.
We ensure that disabled individuals receive full and fair consideration throughout the employment lifecycle, and we continue to invest in training and awareness programmes to equip our managers and teams with the tools to foster a diverse and supportive working culture.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the group since the year end.

Auditors

After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006. 

This report was approved by the board on 22 July 2025 and signed on its behalf.
 





R A Sims Esq
Director

Page 3

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED
 

Opinion


We have audited the financial statements of Centaur Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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's affairs as at 31 October 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 United Kingdom, including the Financial Reporting Council'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 directors' 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 or 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 directors with respect to going concern are described in the relevant sections of this report.


Page 4

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


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 Directors' report.


We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED (CONTINUED)


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 an Auditors' report 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 Group financial statements.


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

• The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussion with directors and other
management, and from our commercial knowledge and experience of the sector that the company operates in;
• We focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006, Health and Safety   regulations and both PSV/Private Hire Licencing regulations;
• We assessed the extent of compliance with the laws and regulations identified above through making enquiries
of management, reviewing board minutes, relevant correspondence and certificates held; and
• Laws and regulations were communicated within the audit team at the planning meeting, and during the audit
as any further laws and regulation were identified. The audit team remained alert to instances of non compliance
throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including
obtaining an understanding of how fraud might occur by:
• Making enquires of management and the board as to where they consider there was susceptibility to fraud
along with their knowledge of actual, suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations; and
• Our review of financial statements and testing the disclosures against supporting documentation.
To address the risk of fraud through management bias and override of controls we:
• Performed analytical procedures to identify any unusual or unexpected trends or anomalies;
• Inspected and tested journal entries to identify unusual or unexpected transactions;
• Assessed whether judgement and assumptions made in determining significant accounting estimates,
including revaluations of tangible fixed assets and the useful economic life of tangible fixed assets, were
indicative of management bias; and
• Investigated the rationale behind significant transactions, or transactions that are unusual or outside the
company’s usual course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.


Page 6

 
CENTAUR GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CENTAUR GROUP LIMITED (CONTINUED)


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 Auditors' report.


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 2006Our 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 an Auditors' report 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.





Mario Cientanni (Senior statutory auditor)
for and on behalf of
Barnes Roffe Audit Limited
Chartered Accountants
Statutory Auditor
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA

 
 
Date: 
24 July 2025
Page 7

 
CENTAUR GROUP LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
10,899,295
9,514,355

Cost of sales
  
(7,229,833)
(6,721,064)

Gross profit
  
3,669,462
2,793,291

Administrative expenses
  
(1,663,203)
(1,535,791)

Other operating income
 5 
90,370
366,408

Operating profit
 6 
2,096,629
1,623,908

Interest receivable and similar income
 10 
134,036
58,800

Interest payable and similar expenses
 11 
(114,794)
(124,354)

Profit before taxation
  
2,115,871
1,558,354

Tax on profit
 12 
(483,502)
(393,042)

Profit for the financial year
  
1,632,369
1,165,312

Profit for the year attributable to:
  

Owners of the parent company
  
1,632,369
1,165,312

  
1,632,369
1,165,312

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 15 to 33 form part of these financial statements.

Page 8

 
CENTAUR GROUP LIMITED
REGISTERED NUMBER: 11052713

CONSOLIDATED BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 14 
141,992
189,322

Tangible assets
 15 
4,216,059
4,163,703

Investments
 16 
100
-

  
4,358,151
4,353,025

Current assets
  

Stocks
 17 
45,956
41,532

Debtors: amounts falling due within one year
 18 
2,006,103
1,973,810

Cash at bank and in hand
 19 
3,014,635
1,748,101

  
5,066,694
3,763,443

Creditors: amounts falling due within one year
 20 
(2,743,936)
(2,395,873)

Net current assets
  
 
 
2,322,758
 
 
1,367,570

Total assets less current liabilities
  
6,680,909
5,720,595

Creditors: amounts falling due after more than one year
 21 
(1,419,145)
(1,954,405)

Provisions for liabilities
  

Deferred taxation
 24 
(929,239)
(930,034)

Other provisions
  
(295,900)
(295,900)

Net assets
  
4,036,625
2,540,256


Capital and reserves
  

Called up share capital 
 26 
2,000
2,000

Profit and loss account
  
4,034,625
2,538,256

  
4,036,625
2,540,256


The financial statements were approved and authorised for issue by the board and were signed on its behalf by 




P D Sims Esq
M H Sims Esq
Director
Director


Date: 22 July 2025
Date:22 July 2025

Page 9

 
CENTAUR GROUP LIMITED
REGISTERED NUMBER: 11052713

COMPANY BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 16 
3,064,123
3,064,023

  
3,064,123
3,064,023

Current assets
  

Debtors: amounts falling due within one year
 18 
1,367,184
825,631

  
1,367,184
825,631

Creditors: amounts falling due within one year
 20 
(406,778)
(447,390)

Net current assets
  
 
 
960,406
 
 
378,241

Total assets less current liabilities
  
4,024,529
3,442,264

  

Creditors: amounts falling due after more than one year
 21 
(762,720)
(1,016,960)

  

Net assets
  
3,261,809
2,425,304


Capital and reserves
  

Called up share capital 
 26 
2,000
2,000

Profit and loss account
  
3,259,809
2,423,304

  
3,261,809
2,425,304


The financial statements were approved and authorised for issue by the board and were signed on its behalf   




P D Sims Esq
M H Sims Esq
Director
Director


Date: 22 July 2025
22 July 2025

Page 10

 
CENTAUR GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Equity attributable to owners of parent company
Total equity

£
£
£
£

At 1 November 2023
2,000
2,538,256
2,540,256
2,540,256



Profit for the year
-
1,632,369
1,632,369
1,632,369

Dividends: Equity capital
-
(136,000)
(136,000)
(136,000)


At 31 October 2024
2,000
4,034,625
4,036,625
4,036,625


The notes on pages 15 to 33 form part of these financial statements.


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Equity attributable to owners of parent company
Total equity

£
£
£
£

At 1 November 2022
2,000
1,509,444
1,511,444
1,511,444



Profit for the year
-
1,165,312
1,165,312
1,165,312

Dividends: Equity capital
-
(136,500)
(136,500)
(136,500)


At 31 October 2023
2,000
2,538,256
2,540,256
2,540,256


The notes on pages 15 to 33 form part of these financial statements.

Page 11

 
CENTAUR GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2023
2,000
2,423,304
2,425,304



Profit for the year
-
972,505
972,505

Dividends: Equity capital
-
(136,000)
(136,000)


At 31 October 2024
2,000
3,259,809
3,261,809



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2022
2,000
1,896,009
1,898,009



Profit for the year
-
663,795
663,795

Dividends: Equity capital
-
(136,500)
(136,500)


At 31 October 2023
2,000
2,423,304
2,425,304


The notes on pages 15 to 33 form part of these financial statements.

Page 12

 
CENTAUR GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,632,369
1,165,312

Adjustments for:

Amortisation of intangible assets
47,330
47,330

Depreciation of tangible assets
956,347
896,238

(Profit) on disposal of tangible assets
(46,040)
(92,029)

Interest paid
114,794
124,354

Interest received
(134,036)
(58,800)

Taxation charge
539,562
423,100

(Increase) in stocks
(4,424)
(6,423)

(Increase) in debtors
(16,594)
(162,215)

Increase/(decrease) in creditors
98,943
(12,580)

Increase in provisions
-
295,900

Corporation tax (paid)/received
(257,532)
2,191

Net cash generated from operating activities

2,930,719
2,622,378


Cash flows from investing activities

Purchase of tangible fixed assets
(1,008,703)
(1,656,850)

Sale of tangible fixed assets
46,040
97,301

Purchase of fixed asset investments
(100)
-

Interest received
134,036
58,800

Net cash from investing activities

(828,727)
(1,500,749)
Page 13

 
CENTAUR GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024


2024
2023

£
£



Cash flows from financing activities

Repayment of other loans
(254,240)
(254,240)

Repayment of/new finance leases
(330,424)
(90,731)

Dividends paid
(136,000)
(136,500)

Interest paid
(62,661)
(73,323)

HP interest paid
(52,133)
(51,031)

Net cash used in financing activities
(835,458)
(605,825)

Net increase in cash and cash equivalents
1,266,534
515,804

Cash and cash equivalents at beginning of year
1,748,101
1,232,297

Cash and cash equivalents at the end of year
3,014,635
1,748,101


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,014,635
1,748,101

3,014,635
1,748,101


The notes on pages 15 to 33 form part of these financial statements.

Page 14

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Centaur Group Limited is a private company limited by shares and incorporated in England and Wales. The registered office address of the company is Unit 34 & 35 Acorn Industrial Park, Acorn Road, Dartford, Kent, DA1 4AL.
The principal activities of the company are those of a holding company and the provision of management services. The group's principal activity during the year was that of minibus and coach private hire and transport operators.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 15

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 16

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds.

Page 17

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

For intangible assets where the useful economic life cannot be reliably measured amortisation is applied on a straight line basis over 10 years, which includes goodwill. 

Page 18

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:


Short-term leasehold property
-
Straight line over 15 years
Plant and machinery
-
25% Straight line
Motor vehicles
-
12.5% Straight line
Office equipment
-
25% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.



 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Costs include all direct costs.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 19

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

 
2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements in accordance with UK GAAP requires management to make estimates & judgments which affect the reported value of assets and liabilities at the balance sheet date.
The group has made key assumptions regarding the useful economic life of tangible fixed assets and this is further described in note 2.13.
Trade debtors are recorded at their estimated recoverable amount and are reported net of bad debt provisions. A full line by line review is carried out based on subsequent receipt of debt post period end, as well as historical experience of the client. Whilst every attempt is made to ensure that the bad debt provision is as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Page 20

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Contract sales
8,726,326
7,534,241

Private hire
1,603,219
1,405,676

Commuter travel
565,322
573,105

Bus services grant income
4,428
1,333

10,899,295
9,514,355


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
10,899,295
9,514,355

10,899,295
9,514,355



5.


Other operating income

2024
2023
£
£

Government grants receivable
89,203
366,408

Sundry income
1,167
-

90,370
366,408



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
956,347
869,955

Profit on disposal of tangible fixed assets
(46,040)
(92,029)

Other operating lease rentals
213,654
198,808

Amortisation of intangible assets, including goodwill
47,330
47,330

Page 21

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
15,340
14,335

All other services

31,629
24,292

46,969
38,627


8.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
4,698,892
4,310,097
-
-

Social security costs
42,750
38,505
-
-

Cost of defined contribution scheme
191,503
155,549
-
-

4,933,145
4,504,151
-
-


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Directors
3
3
3
3



Drivers
201
201
-
-



Office staff
11
11
-
-



Passanger assistants
159
160
-
-



Workshop staff
6
6
-
-

380
381
3
3

Page 22

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
17,568
17,568

Group contributions to defined contribution pension schemes
136,000
102,000

153,568
119,568


During the year retirement benefits were accruing to 2 directors (2023 - 2) in respect of defined contribution pension schemes.


10.


Interest receivable

2024
2023
£
£


Bank interest receivable
134,036
58,800

134,036
58,800


11.


Interest payable and similar expenses

2024
2023
£
£


Other loan interest payable
62,661
73,323

Finance leases and hire purchase interest
52,133
51,031

114,794
124,354

Page 23

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
531,327
197,876

Adjustments in respect of previous periods
(47,030)
-


Total current tax
484,297
197,876

Deferred tax


Deferred tax adjustments
(795)
195,166

Total deferred tax
(795)
195,166


483,502
393,042

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,115,871
1,558,354


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
528,968
350,907

Effects of:


Non-tax deductible amortisation of goodwill and impairment
11,833
10,658

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
2,482
693

Capital allowances for year in excess of depreciation
(446)
(142,369)

Profit on disposal of fixed assets
(11,510)
(20,723)

Higher rate taxes on overseas earnings
-
(845)

Adjustments to tax charge in respect of prior periods
(47,030)
-

Deferred tax provision
(795)
195,166

Marginal relief
-
(445)

Total tax charge for the year
483,502
393,042

Page 24

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
 
12.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


13.


Dividends

2024
2023
£
£


Dividends paid
136,000
136,500

136,000
136,500


14.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 November 2023
473,302



At 31 October 2024

473,302



Amortisation


At 1 November 2023
283,980


Charge for the year on owned assets
47,330



At 31 October 2024

331,310



Net book value



At 31 October 2024
141,992



At 31 October 2023
189,322



Page 25

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

15.


Tangible fixed assets

Group






Short-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
116,692
105,849
8,158,456
145,508
8,526,505


Additions
85,166
19,987
866,250
37,300
1,008,703


Disposals
-
-
(298,234)
(3,298)
(301,532)



At 31 October 2024

201,858
125,836
8,726,472
179,510
9,233,676



Depreciation


At 1 November 2023
5,949
49,328
4,208,290
99,235
4,362,802


Charge for the year on owned assets
9,381
22,990
624,227
16,285
672,883


Charge for the year on financed assets
-
-
283,464
-
283,464


Disposals
-
-
(298,234)
(3,298)
(301,532)



At 31 October 2024

15,330
72,318
4,817,747
112,222
5,017,617



Net book value



At 31 October 2024
186,528
53,518
3,908,725
67,288
4,216,059



At 31 October 2023
110,743
56,521
3,950,166
46,273
4,163,703

Page 26

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

           15.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2024
2023
£
£



Motor vehicles
1,560,190
1,864,883

1,560,190
1,864,883


16.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2023
3,064,023


Additions
100



At 31 October 2024
3,064,123




Page 27

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Centaur Overland Travel Limited
(a)
Minibus and coach private hire and transport operators
Ordinary "A", "B", "C", "D", "F" and "G"
100%
Centaur PH Limited
(a)
Dormant company
Ordinary
100%

(a) Unit 34 & 35 Acorn Industrial Park, Acorn Road, Dartford, DA1 4AL






17.


Stocks

Group
Group
2024
2023
£
£

Raw materials and consumables
45,956
41,532

45,956
41,532


Page 28

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

18.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
1,515,505
1,386,101
-
-

Amounts owed by group undertakings
-
-
1,351,485
825,631

Other debtors
57,149
75,892
15,699
-

Prepayments and accrued income
433,449
511,817
-
-

2,006,103
1,973,810
1,367,184
825,631



19.


Cash and cash equivalents

Group
Group
2024
2023
£
£

Cash at bank and in hand
3,014,635
1,748,101

3,014,635
1,748,101



20.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
254,240
254,240
254,240
254,240

Payments received on account
24,448
29,742
-
-

Trade creditors
574,844
561,800
-
-

Corporation tax
527,731
229,207
-
36,595

Other taxation and social security
98,478
67,479
-
-

Obligations under finance lease and hire purchase contracts
435,094
484,498
-
-

Other creditors
594,411
522,467
129,963
129,762

Accruals and deferred income
234,690
246,440
22,575
26,793

2,743,936
2,395,873
406,778
447,390


Page 29

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

21.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
762,720
1,016,960
762,720
1,016,960

Net obligations under finance leases and hire purchase contracts
656,425
937,445
-
-

1,419,145
1,954,405
762,720
1,016,960


Net obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.


22.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Other loans
254,240
254,240
254,240
254,240

Amounts falling due 1-2 years

Other loans
254,240
254,240
254,240
254,240

Amounts falling due 2-5 years

Other loans
508,480
762,720
508,480
762,720


1,016,960
1,271,200
1,016,960
1,271,200



23.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2024
2023
£
£

Within one year
435,094
484,499

Between 1-5 years
656,425
937,445

1,091,519
1,421,944

Page 30

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

24.


Deferred taxation


Group



2024


£






At beginning of year
(930,034)


Credited to profit or loss
795



At end of year
(929,239)







Group
Group
2024
2023
£
£

Accelerated capital allowances
(929,239)
(930,034)

(929,239)
(930,034)


25.


Provisions


Group



Other provision 1

£





At 1 November 2023
295,900



At 31 October 2024
295,900

Page 31

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

           25.Provisions (continued)

Company


Total

£






At 31 October 2024
-


26.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500 (2023 - 500) Ordinary shares of £1.00 each
500
500
100 (2023 - 100) Ordinary "A" shares of £1.00 each
100
100
700 (2023 - 700) Ordinary "B" shares of £1.00 each
700
700
700 (2023 - 700) Ordinary "C" shares of £1.00 each
700
700

2,000

2,000



27.


Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group  in an independently administered fund. The pension cost charge represents contributions payable by the group  to the fund and amounted to £191,503 (2023 - £155,549) . Contributions totalling £11,177 (2023 - £9,048) were payable to the fund at the balance sheet date and are included in creditors.


28.


Commitments under operating leases

The group and the company had no commitments under non-cancellable operating leases at the balance sheet date.

Page 32

 
CENTAUR GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

29.


Related party transactions

The directors have an interest in dividends paid in the year of £136,000 (2023: £136,500).
Included in other creditors due within one year are amounts due to the directors of £227,617 (2023: £225,481). 
Included in other loans due within one year are loan notes owed to one of the directors of £254,240 (2023: £254,240) and after more than one year of £762,720 (2023: £1,016,960). Interest in the year was paid on the loan notes of £63,560 (2023: £76,272)
The company has taken the available exemption not to disclose related party transactions with wholly owned subsidiaries as prescribed by FRS 102 s33, as consolidated financial statements are publicly available.


30.


Controlling party

No one individual has control over the entity.

 
Page 33