Cento Maintenance Limited Filleted accounts for Companies House (small and micro)

CENTO MAINTENANCE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09215542

Cento Maintenance Limited

Filleted Unaudited Financial Statements

30 November 2018

Cento Maintenance Limited

Statement of Financial Position

30 November 2018

	2018		2017
Note	£	£	£	£

Current assets

Debtors	5	906,938	580,823
Cash at bank and in hand		569,373	136,089
		------------	---------
		1,476,311	716,912

Creditors: amounts falling due within one year	6	780,924		170,009
		------------		---------
Net current assets			695,387		546,903
			---------		---------
Total assets less current liabilities			695,387		546,903
			---------		---------
Net assets			695,387		546,903
			---------		---------

Capital and reserves

Called up share capital	7	1,000	1,000
Profit and loss account		694,387	545,903
		---------	---------
Shareholders funds		695,387	546,903
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 5 March 2019 , and are signed on behalf of the board by:

B J Murphy

Director

Company registration number: 09215542

Cento Maintenance Limited

Notes to the Financial Statements

Year ended 30 November 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Baddow Park, West Hanningfield Road, Great Baddow, Chelmsford, Essex, CM2 7SY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).

5. Debtors

	2018	2017
	£	£
Trade debtors	415,304	496,819
Amounts owed by group undertakings	316,634	79,004
Other debtors	175,000	5,000
	---------	---------
	906,938	580,823
	---------	---------

Included in other debtors is an amount £175,000 (2017 £5,000) which represents amounts recoverable under contracts.

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	14,634	6,294
Amounts owed to group undertakings	664,080	51,962
Accruals and deferred income	–	2,100
Corporation tax	64,038	29,208
Social security and other taxes	38,172	73,870
Other creditors	–	6,575
	---------	---------
	780,924	170,009
	---------	---------

7. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000.00	1,000	1,000.00
	-------	----------	-------	----------

8. Related party transactions

The company has taken advantage of the exemption granted under FRS 102 Section 33.1A not to disclose transactions with group companies that are wholly owned. During the year the group reorganised how it recharged overheads and wages between the group companies.

9. Ultimate parent entity

The controlling party is Cento Engineering Group Limited, a company registered in England and Wales at the registered office, 6 Baddow Park, West Hanningfield Road, Essex, CM2 7SY, United Kingdom.