Centurion Homes Limited Filleted accounts for Companies House (small and micro)

CENTURION HOMES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03188695

Centurion Homes Limited

Filleted Unaudited Financial Statements

For the year ended

30 April 2020

Centurion Homes Limited

Financial Statements

Year ended 30 April 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Centurion Homes Limited

Statement of Financial Position

30 April 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Investments	5		10,000		10,000

Current assets

Stocks		460,000	460,000
Debtors	6	–	936
Cash at bank and in hand		86	2,329
		----------	----------
		460,086	463,265

Creditors: amounts falling due within one year	7	( 67,989)		( 63,521)
		----------		----------
Net current assets			392,097		399,744
			----------		----------
Total assets less current liabilities			402,097		409,744

Creditors: amounts falling due after more than one year	8	( 119,134)	( 139,409)
		----------	----------
Net assets		282,963	270,335
		----------	----------

Capital and reserves

Called up share capital	2,500	2,500
Share premium account	34,000	34,000
Capital redemption reserve	2,500	2,500
Profit and loss account	243,963	231,335
	----------	----------
Shareholders funds	282,963	270,335
	----------	----------

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 Section 1A of 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 income statement has not been delivered.

For the year ending 30 April 2020 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 .

Centurion Homes Limited

Statement of Financial Position (continued)

30 April 2020

These financial statements were approved by the board of directors and authorised for issue on 25 January 2021 , and are signed on behalf of the board by:

C R Ferris

Director

Company registration number: 03188695

Centurion Homes Limited

Notes to the Financial Statements

Year ended 30 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/o Chameleon Business Interiors, 2 Humber Quays, Island Wharf, Hull, East Yorkshire, HU1 2BN.

2. Statement of compliance

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

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. At the date of signing these financial statements, the directors have considered the effect of the Coronavirus pandemic on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

The taxation expense represents the aggregate amount of current 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 be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

(d) Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

(e) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(f) Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 2 (2019: 2).

5. Investments

	Other investments other than loans
	£
Cost
At 1 May 2019 and 30 April 2020	10,000
	--------
Impairment
At 1 May 2019 and 30 April 2020	–
	--------

Carrying amount
At 30 April 2020	10,000
	--------
At 30 April 2019	10,000
	--------

6. Debtors

	2020	2019
	£	£
Other debtors	–	936
	----	----

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	19,820	19,365
Trade creditors	1,237	2,173
Corporation tax	2,962	2,288
Directors loan account	42,440	36,440
Other creditors	1,530	3,255
	--------	--------
	67,989	63,521
	--------	--------

The bank borrowings are secured by fixed and floating charges over the assets of the company.

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	119,134	139,409
	----------	----------

Included within creditors: amounts falling due after more than one year is an amount of £39,855 (2019: £61,949) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank borrowings are secured by fixed and floating charges over the assets of the company.

9. Related party transactions

During the year a director made available a loan to the company . The balance at 30 April 2020 was £ 42,440 (2019: £36,440). The loan is repayable on demand. No interest was charged on the loan in the year ended 30 April 2020.