Centrum Care (Teignmouth) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10759018 (England and Wales)

Audited Financial Statements for the Year Ended 30 June 2021

for

Centrum Care (Teignmouth) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T L Shah

Mr M P Shah

REGISTERED OFFICE:

Centrum House

Headley Road

Woodley

Reading

RG5 4JB

REGISTERED NUMBER:

10759018 (England and Wales)

AUDITORS:

Copia Wealth & Tax Limited

Chartered Accountants

Statutory Auditors

8 Pendeford Place

Pendeford Business Park

Wobaston Road

Wolverhampton

WV9 5HD

FIXED ASSETS

Investments

4

34,501

39,415

CURRENT ASSETS

Debtors

5

1,447,262

1,374,794

Cash at bank

134,569

51,264

1,581,831

1,426,058

CREDITORS

Amounts falling due within one year

6

70,316

60,883

NET CURRENT ASSETS

1,511,515

1,365,175

TOTAL ASSETS LESS CURRENT LIABILITIES

1,546,016

1,404,590

CREDITORS

Amounts falling due after more than one year

7

646,362

757,567

NET ASSETS

899,654

647,023

CAPITAL AND RESERVES

Called up share capital

9

340

300

Share premium

896,810

599,850

Retained earnings

2,504

46,873

SHAREHOLDERS' FUNDS

899,654

647,023

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 31 March 2022 and were signed on its behalf by:

Mr T L Shah - Director

Mr M P Shah - Director

1.	STATUTORY INFORMATION

Centrum Care (Teignmouth) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

All monetary amounts are rounded to the nearest pound.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Centrum Care (Teignmouth) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Centrum Group Corporation Limited, Centrum House, Headley Road, Woodley, Reading, United Kingdom, RG5 4JB.

Judgements and estimates

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2020

and 30 June 2021

49,250

PROVISIONS

At 1 July 2020

9,835

Provision for year

4,914

At 30 June 2021

14,749

NET BOOK VALUE

At 30 June 2021

34,501

At 30 June 2020

39,415

Details of the company's subsidiaries as at 30 June 2021 are as follows:

Name of Undertaking

Nature of Business

Class of Share held

% of Shares Held

Teignmouth Care Limited

Residential Care

Ordinary

100

The White House (Teignmouth) Limited

Property Holding Company

Ordinary

100

Croft Lodge Limited

Property Holding Company

Ordinary

100

5.

DEBTORS

30.6.21

30.6.20

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

71,187

56,337

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,376,075

1,318,457

Aggregate amounts

1,447,262

1,374,794

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

42,663

40,715

Amounts owed to group undertakings

14,610

13,800

Taxation and social security

10,703

4,029

Other creditors

2,340

2,339

70,316

60,883

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

640,362

685,567

Amounts owed to group undertakings

6,000

6,000

Other creditors

-

66,000

646,362

757,567

30.6.21

30.6.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instalments

404,500

454,955

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.21

30.6.20

£

£

Bank loans

683,025

726,282

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

16,980

Ordinary A

0.01

170

150

11,886

Ordinary B

0.01

119

105

5,094

Ordinary C

0.01

51

45

340

300

New shares allotted

1980 A Ordinary having an aggregate nominal value of £19.80 were allotted for an aggregate consideration of £198,000.

1386 B Ordinary having an aggregate nominal value of £13.86 were allotted for an aggregate consideration of £69,300.

594 C Ordinary having an aggregate nominal value of £5.94 were allotted for an aggregate consideration of £29,700.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Shaun Philpott (Senior Statutory Auditor)

for and on behalf of Copia Wealth & Tax Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Income and receivables from entities under common control

2021

2020

£

£

Amounts receivable from entities under common control

13,000

13,150

Expenditure with and payables to entities under common control

2021

2020

£

£

Amounts payable to shareholders

-

66,000

Amounts payable to entities under common control

20,610

19,800

The above amounts have been extended on an interest free basis with no fixed repayment terms.

The directors have given personal guarantees in favor of Metro Bank Plc in respect of the company's outstanding loan, which at the year end amount to £633,025 (2020 - £676,281).

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company in which these accounts are consolidated is Centrum Group Corporation Limited. The consolidated financial statements of Centrum Group Corporation Limited are available from Companies House.

The registered office of the above named companies is the same as Centrum Care (Teignmouth) Ltd.