REGISTERED NUMBER: 06309686 (England and Wales)

Centrifuge Consulting Ltd

Unaudited Financial Statements

for the Year Ended 31st December 2024

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

7

Directors:

L R Marsh

A Thomson

Secretary:

L R Marsh

Registered office:

Halidon House

17D Windmill Way West

Ramparts Business Park

Berwick Upon Tweed

Northumberland

TD15 1TB

Registered number:

06309686 (England and Wales)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Tangible assets

4

1,108

1,303

Current assets

Debtors

5

49,809

90,591

Cash at bank

541

68,885

50,350

159,476

Creditors

Amounts falling due within one year

6

12,514

59,308

Net current assets

37,836

100,168

Total assets less current liabilities

38,944

101,471

Creditors

Amounts falling due after more than one year

7

1,764

5,923

Net assets

37,180

95,548

Capital and reserves

Called up share capital

15

15

Retained earnings

37,165

95,533

37,180

95,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th August 2025 and were signed on its behalf by:

L R Marsh - Director

1.	Statutory information

Centrifuge Consulting Ltd 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.

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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from consultancy services is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern

The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation on that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4.	Tangible fixed assets

Fixtures

and

Office

fittings

equipment

Totals

£

£

£

Cost

At 1st January 2024

and 31st December 2024

1,411

4,109

5,520

Depreciation

At 1st January 2024

108

4,109

4,217

Charge for year

195

-

195

At 31st December 2024

303

4,109

4,412

Net book value

At 31st December 2024

1,108

-

1,108

At 31st December 2023

1,303

-

1,303

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

9,720

29,190

Other debtors

40,089

61,401

49,809

90,591

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

4,159

4,056

Trade creditors

1,385

-

Taxation and social security

5,505

53,762

Other creditors

1,465

1,490

12,514

59,308

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

1,764

5,923

8.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

5,923

9,979

The Co-Operative Loan Fund Limited holds a fixed and floating charge over all of the property and undertaking of the company.

9.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st December 2022 and 31st December 2024.

2024

2023

£

£

Director 1

Balance outstanding at start of year

24,190

7,795

Amounts advanced

55,978

77,996

Amounts repaid

(59,953

)

(61,601

)

Balance outstanding at end of year

20,215

24,190

Director 2

Balance outstanding at start of year

37,211

15,009

Amounts advanced

38,635

78,353

Amounts repaid

(55,972

)

(56,151

)

Balance outstanding at end of year

19,873

37,211

This loan is unsecured and repayable on demand. Interest is charged by the company at the official rate published by HMRC.