Registration number: NI635459

Centum Engineering Services Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 10

Centum Engineering Services Ltd

Company Information

Director

Mr M McGlone

Registered office

38c Airfield Road Toomebridge Co Antrim BT41 3SG

Auditors

McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS

Centum Engineering Services Ltd

(Registration number: NI635459)
Balance Sheet as at 31 December 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Tangible assets	4	99,643	132,906
Current assets
Debtors	5	1,224,453	665,669
Cash at bank and in hand		47,669	171,199
		1,272,122	836,868
Creditors: Amounts falling due within one year	6	(701,952)	(393,400)
Net current assets		570,170	443,468
Total assets less current liabilities		669,813	576,374
Creditors: Amounts falling due after more than one year	6	(50,275)	(123,997)
Net assets		619,538	452,377
Capital and reserves
Called up share capital	7	1	1
Retained earnings		619,537	452,376
Shareholders' funds		619,538	452,377

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 December 2025
 

.........................................

Mr M McGlone
Director

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
38c Airfield Road
Toomebridge
Co Antrim
BT41 3SG

These financial statements were authorised for issue by the director on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 December 2025 was Terence Hollywood, who signed for and on behalf of McKeague Morgan & Company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line
Fixtures, fittings and equipment	20% straight line
Motor vehicles	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2023 - 23).

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	106,136	48,745	137,182	292,063
Additions	20,781	-	-	20,781
At 31 December 2024	126,917	48,745	137,182	312,844
Depreciation
At 1 January 2024	70,040	25,136	63,981	159,157
Charge for the year	21,338	8,306	24,400	54,044
At 31 December 2024	91,378	33,442	88,381	213,201
Carrying amount
At 31 December 2024	35,539	15,303	48,801	99,643
At 31 December 2023	36,096	23,609	73,201	132,906

5

Debtors

	Note	2024 £	(As restated) 2023 £
Trade debtors		222,466	16,508
Amounts owed by group undertakings	9	382,797	510,937
Prepayments		15,000	55,600
Other debtors		604,190	82,624
		1,224,453	665,669

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

	Note	2024 £	(As restated) 2023 £
Due within one year
Bank loans and overdrafts	8	46,209	45,960
HP and finance lease liabilities		27,450	27,450
Trade creditors		122,716	82,841
Corporation tax liability		35,258	44,611
Amounts owed to group undertakings	9	382,239	54,329
Taxation and social security		17,134	25,474
Other creditors		40,278	68,323
Accruals and deferred income		30,668	44,412
		701,952	393,400
Due after one year
Loans and borrowings	8	22,825	69,097
Obligations under finance leases		27,450	54,900
		50,275	123,997

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

8	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	46,209	45,960
Hire purchase contracts	27,450	27,450
	73,659	73,410

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	22,825	69,097
Hire purchase contracts	27,450	54,900
	50,275	123,997

Bank borrowings

The CBILS loan is denominated in sterling with a nominal interest rate of base rate plus 2.79%, and the final instalment is due in July 2026. The carrying amount at year end is £69,034 (2023 - £115,057). The company has provided a fixed and floating charge to Barclays Bank in relation to its borrowings. 80% of the outstanding balance of the loan is guaranteed by The Department of Business, Energy and Industrial Strategy under the Coronavirus Business Interruption Loan (CBIL) Scheme.

9	Related party transactions

The company is exempt from disclosing related party transactions with group companies as it is wholly owned within the MCG Family Holdings Limited group.

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	12,924	12,924
Contributions paid to money purchase schemes	60,000	60,017
	72,924	72,941

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

9	Related party transactions (continued)

Other related parties

Mr M McGlone is a director and shareholder in a number of non-group entities in addition to the parent company, MCG Family Holdings Limited.

During the year the company advanced loans to these related parties with an aggregate value of £583,153 and received repayments against these loans of £68,176. At the year end an aggregate balance of £568,849 was owed to the company.

During the year the company also received loans from these related parties with an aggregate value of £37,707. At the year end an aggregate balance of £37,707 was owed to the related parties.

The company purchased services from other related parties totalling £139,191.

Loans to related parties

2024	Key management £	Other related parties £	Total £
At start of period (as restated)	-	53,872	53,872
Advanced	-	583,153	583,153
Repaid	-	(68,176)	(68,176)
At end of period	-	568,849	568,849

2023	Key management £	Other related parties £	Total £
At start of period (as restated)	11,115	-	11,115
Advanced	32,244	53,872	86,116
Repaid	(43,359)	-	(43,359)
At end of period (as restated)	-	53,872	53,872

Loans from related parties

2024	Key management £	Other related parties £	Total £
At start of period (as restated)	64,652	-	64,652
Advanced	19,815	37,707	57,522
Repaid	(84,467)	-	(84,467)
At end of period	-	37,707	37,707

2023	Key management £	Other related parties £	Total £
At start of period	-	-	-
Advanced	64,652	-	64,652
At end of period (as restated)	64,652	-	64,652

Centum Engineering Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

10	Parent and ultimate parent undertaking

The company's immediate parent is MCG Family Holdings Limited, incorporated in UK.

  These financial statements are available upon request from:
38c Airfield Road
Toomebridge
Co Antrim
BT41 3SG

 The ultimate controlling party is Michael McGlone.

11	Prior period adjustments

The comparative figures have been restated to reclassify an advance of £75,000 made by the director from the Share Premium Reserve to the Director's Loan Account to correctly reflect the nature of the transaction.