REGISTERED NUMBER: 06438367 (England and Wales)

CENTRICK PROPERTY SALES LIMITED

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C M Ackrill

J W Ackrill

REGISTERED OFFICE:

2nd Floor

The Exchange

17-19 Newhall Street

Birmingham

West Midlands

B3 3PJ

REGISTERED NUMBER:

06438367 (England and Wales)

AUDITORS:

Michael Dufty Partnership Limited

Statutory Auditors

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Intangible assets

4

2,171

3,946

Tangible assets

5

131,329

113,059

133,500

117,005

CURRENT ASSETS

Stocks

-

2,853

Debtors

6

1,044,051

838,315

Cash at bank

535,788

881,057

1,579,839

1,722,225

CREDITORS

Amounts falling due within one year

7

1,413,568

1,209,210

NET CURRENT ASSETS

166,271

513,015

TOTAL ASSETS LESS CURRENT LIABILITIES

299,771

630,020

CREDITORS

Amounts falling due after more than one year

8

(20,833

)

(70,833

)

PROVISIONS FOR LIABILITIES

(17,333

)

-

NET ASSETS

261,605

559,187

CAPITAL AND RESERVES

Called up share capital

435

435

Retained earnings

261,170

558,752

261,605

559,187

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

J W Ackrill - Director

1.	STATUTORY INFORMATION

Centrick Property Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives. Those held under finance leases are depreciated over their useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

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

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

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Going concern

These financial statements have been prepared on a going concern basis. The Directors anticipate that the company will return to profitability in the forthcoming period, for the foreseeable future and will maintain positive cash flows.

The company also retains the support of its parent & fellow subsidiary companies.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 57 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

44,730

AMORTISATION

At 1 January 2024

40,784

Charge for year

1,775

At 31 December 2024

42,559

NET BOOK VALUE

At 31 December 2024

2,171

At 31 December 2023

3,946

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

194,059

55,173

19,377

225,800

494,409

Additions

-

23,386

-

58,800

82,186

Disposals

-

-

(19,377

)

-

(19,377

)

At 31 December 2024

194,059

78,559

-

284,600

557,218

DEPRECIATION

At 1 January 2024

194,059

37,382

12,266

137,643

381,350

Charge for year

-

6,985

445

49,820

57,250

Eliminated on disposal

-

-

(12,711

)

-

(12,711

)

At 31 December 2024

194,059

44,367

-

187,463

425,889

NET BOOK VALUE

At 31 December 2024

-

34,192

-

97,137

131,329

At 31 December 2023

-

17,791

7,111

88,157

113,059

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

373,728

92,759

Amounts owed by group undertakings

213,624

370,336

Amounts owed by related parties

-

17,693

Other debtors

385,117

330,403

Deferred tax asset

-

1,157

Prepayments and accrued income

71,582

25,967

1,044,051

838,315

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

50,000

50,000

Hire purchase contracts (see note 9)

-

8,523

Trade creditors

92,105

130,466

Amounts owed to group undertakings

699,009

523,726

Social security and other taxes

63,372

159,872

Other creditors

377,852

152,912

Accruals and deferred income

131,230

180,873

Accrued expenses

-

2,838

1,413,568

1,209,210

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

20,833

50,000

Bank loans - 2-5 years

-

20,833

20,833

70,833

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

-

8,523

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

70,833

120,833

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Robert Maclaren FCCA (Senior Statutory Auditor)

for and on behalf of Michael Dufty Partnership Limited

12.	ULTIMATE PARENT COMPANY

The largest group in which these accounts are consolidated is in that of Centrick Group Holdings Limited, 2nd Floor, The Exchange, 17-19 Newhall Street, Birmingham, B3 3PJ, UK, which is the ultimate parent company.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr and Mrs Ackrill by virtu of their majority shareholding in the parent company