Centresouth Limited - Accounts to registrar (filleted) - small 18.2

Centresouth Limited - Accounts to registrar (filleted) - small 18.2

CENTRESOUTH LIMITED - Company Information

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REGISTERED NUMBER: 02396614 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2020

FOR

CENTRESOUTH LIMITED
CENTRESOUTH LIMITED (REGISTERED NUMBER: 02396614)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CENTRESOUTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2020







DIRECTORS: M J Stallion
L A Watts





SECRETARY: PP Secretaries Limited





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 02396614 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Page 1
CENTRESOUTH LIMITED (REGISTERED NUMBER: 02396614)

BALANCE SHEET
31ST MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,350,000 1,350,000
1,350,000 1,350,000

CURRENT ASSETS
Cash at bank and in hand 3,259 7,208

CREDITORS
Amounts falling due within one year 6 7,613 8,378
NET CURRENT LIABILITIES (4,354 ) (1,170 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,345,646
1,348,830

PROVISIONS FOR LIABILITIES 162,779 162,779
NET ASSETS 1,182,867 1,186,051

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 1,312,221 1,312,221
Retained earnings (129,454 ) (126,270 )
SHAREHOLDERS' FUNDS 1,182,867 1,186,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 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 notes form part of these financial statements

Page 2 continued...
CENTRESOUTH LIMITED (REGISTERED NUMBER: 02396614)

BALANCE SHEET - continued
31ST MARCH 2020


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
17th June 2020 and were signed on its behalf by:





M J Stallion - Director


The notes form part of these financial statements

Page 3
CENTRESOUTH LIMITED (REGISTERED NUMBER: 02396614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2020

1. STATUTORY INFORMATION

Centresouth 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial
statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of
financial assets and liabilities like trade and other accounts receivable and payable, loans from banks
and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and 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 profit or loss.

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 balance sheet date.


Page 4 continued...
CENTRESOUTH LIMITED (REGISTERED NUMBER: 02396614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2020

2. ACCOUNTING POLICIES - continued
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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property
and equipment, are reviewed to determine whether there is an indication that an asset may be
impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group
of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated
and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the
asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit
or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST OR VALUATION
At 1st April 2019
and 31st March 2020 405
DEPRECIATION
At 1st April 2019
and 31st March 2020 405
NET BOOK VALUE
At 31st March 2020 -
At 31st March 2019 -

Cost or valuation at 31st March 2020 is represented by:

Computer
equipment
£   
Valuation in 2018 405

Page 5 continued...
CENTRESOUTH LIMITED (REGISTERED NUMBER: 02396614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2020

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2019
and 31st March 2020 1,350,000
NET BOOK VALUE
At 31st March 2020 1,350,000
At 31st March 2019 1,350,000

Fair value at 31st March 2020 is represented by:

£   
Valuation in 2020 1,143,750
Cost 206,250
1,350,000

If investment properties had not been revalued they would have been included at the following
historical cost:

2020 2019
£    £   
Cost 206,250 206,250

Investment properties were valued on an open market basis on 31st March 2020 by the directors .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Tax 6,290 7,378
Directors' current accounts 324 -
Accrued & deferred income 999 1,000
7,613 8,378

7. RESERVES
Fair
value
reserve
£   
At 1st April 2019
and 31st March 2020 1,312,221

Page 6