Centurion Finance (Lincoln) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02004678 (England and Wales)

Financial Statements

for the Year Ended 30 April 2025

for

Centurion Finance (Lincoln) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M J Wroblewski

T S Parr

SECRETARY:

T S Parr

REGISTERED OFFICE:

Centurion House

1st Floor Unit J3, The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

REGISTERED NUMBER:

02004678 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

BANKERS:

Handelsbanken

Olympic House

995 Doddington Road

Lincoln

Lincolnshie

LN6 3SE

FIXED ASSETS

Tangible assets

4

1,335

1,439

Investment property

5

10,929,000

10,930,335

10,930,439

CURRENT ASSETS

Stocks

50

Debtors

6

127,620

128,303

Cash at bank and in hand

208,139

275,780

335,809

404,133

CREDITORS

Amounts falling due within one year

7

318,922

399,146

NET CURRENT ASSETS

16,887

4,987

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,947,222

10,935,426

CAPITAL AND RESERVES

Called up share capital

10,000

Retained earnings

8

10,937,222

10,925,426

SHAREHOLDERS' FUNDS

10,947,222

10,935,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

M J Wroblewski - Director

1.	STATUTORY INFORMATION

Centurion Finance (Lincoln) 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.

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 is the amount derived from ordinary activities and is comprised of rental income on the investment properties. Turnover is measured at the fair value of the consideration received or receivable and is stated net of VAT It is recognised in the period to which the rentals received relates to.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

COST

At 1 May 2024

and 30 April 2025

3,395

30,559

33,954

DEPRECIATION

At 1 May 2024

3,395

29,120

32,515

Charge for year

-

104

At 30 April 2025

3,395

29,224

32,619

NET BOOK VALUE

At 30 April 2025

-

1,335

At 30 April 2024

-

1,439

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

10,929,000

NET BOOK VALUE

At 30 April 2025

10,929,000

At 30 April 2024

10,929,000

If the investment properties were sold at the revalued amount of £10,929,000 (2024: £10,929,000) the maximum additional corporation tax due would be £Nil (2024 - £Nil).

The investment properties are all available for rental under operating leases.

Some of the investment properties were revalued in the 2022 accounts for refinancing purposes. They have been valued based on their market value for the freehold interest. The directors do not believe that this value is materially different from the fair value of the properties.

The directors are satisfied that the remaining properties are valued at their fair value in the accounts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

41,370

27,185

Other debtors

86,250

101,118

127,620

128,303

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

60,781

7,586

Tax

21,163

178,262

Social security and other taxes

2,786

2,286

VAT

23,098

21,610

Directors' current accounts

92,953

83,903

Accruals and deferred income

118,141

105,499

318,922

399,146

8.

RESERVES

Included within reserves is an amount of £567,835 (2024: £567,835) which relates to an upward revaluation of investment properties, this amount does not represent distributable reserves.

9.	RELATED PARTY DISCLOSURES

At the year-end, the director was owed £92,953 by the company (2024: £83,903). This balance is unsecured, interest-free and repayable on demand. No guarantees have been given or received in respect of this balance.