Company Registration No. 02617529 (England and Wales)
Centerland Limited
Unaudited accounts
for the year ended 30 June 2020
Centerland Limited
Unaudited accounts
Contents
Centerland Limited
Company Information
for the year ended 30 June 2020
Company Number
02617529 (England and Wales)
Registered Office
Churchill House 120 Bunns Lane
Suite 112
London
Mill Hill
NW7 2AS
United Kingdom
Accountants
Platts
Churchill House, Suite 112
120 Bunns Lane
Mill Hill
London
NW7 2AS
Centerland Limited
Statement of financial position
as at 30 June 2020
Investment property
845,000
845,000
Cash at bank and in hand
5,910
42
Creditors: amounts falling due within one year
(640,026)
(522,582)
Net current assets/(liabilities)
16,879
(368,421)
Total assets less current liabilities
861,891
476,596
Creditors: amounts falling due after more than one year
(505,266)
-
Provisions for liabilities
Deferred tax
(56,033)
(56,033)
Net assets
300,592
420,563
Called up share capital
200
200
Revaluation reserve
227,815
227,815
Profit and loss account
67,677
187,648
Shareholders' funds
300,592
420,563
For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 November 2020 and were signed on its behalf by
Mr G R Hamblyn
Director
Company Registration No. 02617529
Centerland Limited
Notes to the Accounts
for the year ended 30 June 2020
Centerland Limited is a private company, limited by shares, registered in England and Wales, registration number 02617529. The registered office is Churchill House 120 Bunns Lane, Suite 112, London, Mill Hill, NW7 2AS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration of rental income received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Centerland Limited
Notes to the Accounts
for the year ended 30 June 2020
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 July 2019
845,000
Amounts due from group undertakings etc.
650,370
154,119
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
38,491
-
Trade creditors
6,462
1,011
Amounts owed to group undertakings and other participating interests
594,520
511,375
Loans from directors
-
283
8
Creditors: amounts falling due after more than one year
2020
2019
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
Centerland Limited
Notes to the Accounts
for the year ended 30 June 2020
10
Transactions with related parties
The director and his wife hold the Company's entire Issued Ordinary Share Capital.
The amounts due from group undertakings are represented by Winyates Property Investment Limited and Benchrealm Limited in the sums of £623,068 (2019 - £124,309) and £27,302 (2019 - £29,810) respectively in which Mr G R Hamblyn is a Director and Shareholder and are interest free and repayable on demand.
The amounts owed to group undertakings are represented by St Mary's Estates Management Limited, Globe Universal Limited and Church Road Investments in the sums of £67,719 (2019 - £76,780), £448,741 (2019 - £374,845), and £78,060 (2019 - £59,750) respectively in which Mr G R Hamblyn is a Director and Shareholder and are interest free and repayable on demand.
At the Balance Sheet date, Mr G R Hamblyn had provided a personal guarantee for the Bank Loans.
11
Average number of employees
During the year the average number of employees was 1 (2019: 1).
