ACCOUNTS - Final Accounts preparation

CENTRICK GROUP LIMITED - Company Information

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Registered number: 10831910

CENTRICK GROUP LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

CENTRICK GROUP LIMITED

REGISTERED NUMBER: 10831910

BALANCE SHEET

AS AT 30 SEPTEMBER 2018

		30 September 2018
Note		£

Fixed assets
Tangible assets	3		1,100
Investments	4		1,392
			2,492
Current assets
Debtors: amounts falling due within one year	5	122,058
Cash at bank and in hand		251,839
		373,897
Creditors: amounts falling due within one year	6	(365,897)
Net current assets			8,000
Total assets less current liabilities			10,492

Net assets			10,492

Capital and reserves
Called up share capital	7	1,395
Profit and loss account		9,097
		10,492

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 January 2019.

J W Ackrill

Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

CENTRICK GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

1.Accounting policies

1.1

Basis of preparation of financial statements

Centrick Group Limited (''the company'') is a limited liability company incorporated and domiciled in the United Kingdom. The address of the registered office is disclosed on the company information page.
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the period 22 June 2017 to 30 September 2018.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

1.2

Turnover

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. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

Page 2

CENTRICK GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

1.Accounting policies (continued)

1.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

1.5

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, loans to related parties and investments in non-puttable ordinary shares.

1.6

Pensions

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 in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.7

Taxation

The tax charge for the period comprises of current tax.
Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

1.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the period was 6.

Page 3

CENTRICK GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

3.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	Additions	1,100
	At 30 September 2018	1,100

	Net book value
	At 30 September 2018	1,100

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	1,392
	At 30 September 2018	1,392

	Net book value
	At 30 September 2018	1,392

Page 4

CENTRICK GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

4.Fixed asset investments (continued)

Direct subsidiary undertakings
The following were subsidiary undertakings of the company:
Name	Class of shares	Holding	Principal activity

Centrick Maintenance Limited	Ordinary	100%	Estate maintenance
Centrick Property Sales Limited	Ordinary	100%	Property sales and rental
Centrick Limited	Ordinary	100%	Management of real estate

Indirect subsidiary undertakings
The following were subsidiary undertakings of the company:
Name	Class of shares	Holding	Principal activity

Centrick Property Sales (Nottingham) Limited	Ordinary	100%	Dormant
Centrick Property Sales (Solihull) Limited	Ordinary	100%	Dormant
New Street Chambers Limited	Ordianry	100%	Managing agent

The aggregate of the share capital and reserves as at 30 September 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
	Aggregate of share capital and reserves	Profit/(loss)
	£	£

Centrick Maintenance Limited	95,549	37,441
Centrick Property Sales Limited	144,022	(10,591)
Centrick Limited	(71,491)	62,769
New Street Chambers Limited	435	-
Centrick Property Sales (Solihull) Limited	10,000	-
Centrick Property Sales (Nottingham) Limited	100	-
	178,615	89,619

Page 5

CENTRICK GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

Debtors

					2018
					£


	Amounts owed by group undertakings	98,109
	Amounts owed by joint ventures and associated undertakings	1,735
	Other debtors	173
	Called up share capital not paid	3
	Prepayments	22,038
		122,058

6.	Creditors: Amounts falling due within one year
		2018
		£

	Trade creditors	10,983
	Corporation tax	52,614
	Other taxation and social security	41,413
	Other creditors	246,525
	Accruals and deferred income	14,362
		365,897

Page 6

CENTRICK GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2018

7.	Share capital
		2018
		£

		Allotted, called up and fully paid

		1,395 Ordinary shares of £1 each	1,395

On incorporation 3 Ordinary shares were issued at par value. On 6 September 2017, the company issued 1,392 Ordinary shares at £1 each at par value in relation to the acquisition of the subidiaries.

8.	Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,524. Contributions totalling £1,303 were payable to the fund at the balance sheet date and are included within other creditors.

9.Other financial commitments

The company has provided unsecured guarantees to Lloyds bank in relation to all group companies in respect of charge cards and BACS facilities.

10.	Controlling party

The company is controlled by the directors by virtue of their majority shareholding.

Page 7