Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Alistair Roderick Grant 11/07/2008 James David Hepworth 05/01/2015 03 July 2025 At the heart of the business is steel design, fabrication and installation. The majority of the Company’s revenue comes from project based work of varying scopes and sizes; primarily in Aggregates and Materials Handling but also to main contractors in the general construction sector. 01549267 2025-03-31 01549267 bus:Director1 2025-03-31 01549267 bus:Director2 2025-03-31 01549267 2024-03-31 01549267 core:CurrentFinancialInstruments 2025-03-31 01549267 core:CurrentFinancialInstruments 2024-03-31 01549267 core:Non-currentFinancialInstruments 2025-03-31 01549267 core:Non-currentFinancialInstruments 2024-03-31 01549267 core:ShareCapital 2025-03-31 01549267 core:ShareCapital 2024-03-31 01549267 core:RevaluationReserve 2025-03-31 01549267 core:RevaluationReserve 2024-03-31 01549267 core:CapitalRedemptionReserve 2025-03-31 01549267 core:CapitalRedemptionReserve 2024-03-31 01549267 core:RetainedEarningsAccumulatedLosses 2025-03-31 01549267 core:RetainedEarningsAccumulatedLosses 2024-03-31 01549267 core:LandBuildings 2024-03-31 01549267 core:PlantMachinery 2024-03-31 01549267 core:Vehicles 2024-03-31 01549267 core:FurnitureFittings 2024-03-31 01549267 core:OfficeEquipment 2024-03-31 01549267 core:LandBuildings 2025-03-31 01549267 core:PlantMachinery 2025-03-31 01549267 core:Vehicles 2025-03-31 01549267 core:FurnitureFittings 2025-03-31 01549267 core:OfficeEquipment 2025-03-31 01549267 core:ImmediateParent core:CurrentFinancialInstruments 2025-03-31 01549267 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 01549267 core:WithinOneYear 2025-03-31 01549267 core:WithinOneYear 2024-03-31 01549267 core:BetweenOneFiveYears 2025-03-31 01549267 core:BetweenOneFiveYears 2024-03-31 01549267 2024-04-01 2025-03-31 01549267 bus:FilletedAccounts 2024-04-01 2025-03-31 01549267 bus:SmallEntities 2024-04-01 2025-03-31 01549267 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 01549267 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 01549267 bus:Director1 2024-04-01 2025-03-31 01549267 bus:Director2 2024-04-01 2025-03-31 01549267 core:LandBuildings core:TopRangeValue 2024-04-01 2025-03-31 01549267 core:PlantMachinery 2024-04-01 2025-03-31 01549267 core:Vehicles 2024-04-01 2025-03-31 01549267 core:FurnitureFittings 2024-04-01 2025-03-31 01549267 core:OfficeEquipment 2024-04-01 2025-03-31 01549267 2023-04-01 2024-03-31 01549267 core:LandBuildings 2024-04-01 2025-03-31 01549267 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 01549267 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: 01549267 (England and Wales)

CENTRISTIC LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

CENTRISTIC LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

CENTRISTIC LIMITED

BALANCE SHEET

As at 31 March 2025
CENTRISTIC LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 1,325,667 987,812
1,325,667 987,812
Current assets
Stocks 11,662 6,814
Debtors
- due within one year 4 3,901,425 4,225,027
- due after more than one year 4 4,900 9,100
Cash at bank and in hand 619,243 736,154
4,537,230 4,977,095
Creditors: amounts falling due within one year 5 ( 2,078,507) ( 2,163,731)
Net current assets 2,458,723 2,813,364
Total assets less current liabilities 3,784,390 3,801,176
Creditors: amounts falling due after more than one year 6 ( 1,775) ( 12,235)
Provision for liabilities ( 144,296) ( 19,774)
Net assets 3,638,319 3,769,167
Capital and reserves
Called-up share capital 108 108
Revaluation reserve 658,841 351,056
Capital redemption reserve 45,004 45,004
Profit and loss account 2,934,366 3,372,999
Total shareholder's funds 3,638,319 3,769,167

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Centristic Limited (registered number: 01549267) were approved and authorised for issue by the Board of Directors on 03 July 2025. They were signed on its behalf by:

Alistair Roderick Grant
Director
CENTRISTIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
CENTRISTIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Centristic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centristic Cavalier Road, Heathfield Industrial Estate, Newton Abbot, TQ12 6TQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services (steel design, fabrication and installation) provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Research & Development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

Land is not depreciated.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 40 48

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost/Valuation
At 01 April 2024 903,574 517,723 207,837 128,866 88,538 1,846,538
Additions 0 8,650 179,988 0 2,719 191,357
Revaluations 321,426 0 0 0 0 321,426
Disposals 0 ( 150,250) ( 121,888) ( 500) 0 ( 272,638)
At 31 March 2025 1,225,000 376,123 265,937 128,366 91,257 2,086,683
Accumulated depreciation
At 01 April 2024 149,821 399,158 140,633 96,761 72,353 858,726
Charge for the financial year 21,755 30,781 60,501 6,421 3,781 123,239
Disposals 0 ( 128,792) ( 91,788) ( 369) 0 ( 220,949)
At 31 March 2025 171,576 301,147 109,346 102,813 76,134 761,016
Net book value
At 31 March 2025 1,053,424 74,976 156,591 25,553 15,123 1,325,667
At 31 March 2024 753,753 118,565 67,204 32,105 16,185 987,812

Revaluation of tangible assets

Freehold land and buildings were professionally valued by Stratton Creber Commercial, an independent valuer, to market value at 19/06/2024, with subsequent additions at cost. The directors are satisfied this accurately reflects the market value of the freehold land and property at the balance sheet date.

2025 2024
£ £
Historical cost 167,149 167,149
Accumulated depreciation 116,309 108,102
Carrying value 283,458 275,251

4. Debtors

2025 2024
£ £
Debtors: amounts falling due within one year
Trade debtors 1,077,362 1,026,989
Amounts owed by Parent undertakings 2,745,238 3,037,341
Amounts owed by directors 5,000 4,010
Prepayments 65,001 110,968
Other debtors 8,824 45,719
3,901,425 4,225,027
Debtors: amounts falling due after more than one year
Other debtors 4,900 9,100

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 10,462 10,204
Trade creditors 1,307,772 968,998
Accruals and deferred income 414,463 1,005,331
Taxation and social security 339,302 172,867
Other creditors 6,508 6,331
2,078,507 2,163,731

Bank loans due within one year of £10,462 (2024: £10,204) are guaranteed by the government as part of the Bounce Back Loan Scheme.

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 1,775 12,235

Bank loans due after one year of £1,775 (2024: £12,235) are guaranteed by the government as part of the Bounce Back Loan Scheme.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 10,320 10,320
between one and five years 2,580 12,900
12,900 23,220

Other financial commitments

2025 2024
£ £
Commitments in respect of parents and subsidiaries 10,320 10,320

Cross guarantees have been entered into between the company and its parent company Waldegrave (RG) Limited. The guarantee is unlimited. All assets of the company are pledged as security for any amounts owed to both the bank and to one of the directors, by way of fixed and floating charges.

The companies acts as a guarantor on an operating lease for an entity under common control. The amount guaranteed is £10,320 per annum for the five year lease term ending 21 May 2028.

8. Related party transactions

Transactions with the entity's directors

Advances

At the beginning of the year a director owed £4,010 to the company. No further amount was advanced, and £4,010 was repaid in the year. The balance at the end of the year was £0.

Advances were granted to a further director in the form of a director's loan account during the year. £5,000 was advanced, and £0 was subsequently repaid. The balance at the end of the year was £5,000.