Centro Webnet Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03764498 (England and Wales)

Centro Webnet Limited

Unaudited Financial Statements

for the Year Ended 31 July 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Carter

S Garner

S J Griffiths

SECRETARY:

S Carter

REGISTERED OFFICE:

17 Union Street

Bridgetown

Cannock

Staffordshire

WS11 0BY

REGISTERED NUMBER:

03764498 (England and Wales)

ACCOUNTANTS:

Haines Watts Tamworth Limited

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

CURRENT ASSETS

Debtors

4

31,652

31,263

Cash at bank and in hand

21,158

37,945

52,810

69,208

CREDITORS

Amounts falling due within one year

5

8,244

11,956

NET CURRENT ASSETS

44,566

57,252

TOTAL ASSETS LESS CURRENT LIABILITIES

44,566

57,252

CREDITORS

Amounts falling due after more than one year

6

8,583

25,000

NET ASSETS

35,983

32,252

CAPITAL AND RESERVES

Called up share capital

8

150

150

Retained earnings

35,833

32,102

SHAREHOLDERS' FUNDS

35,983

32,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 April 2022 and were signed on its behalf by:

S Carter - Director

1.	STATUTORY INFORMATION

Centro Webnet 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.

Turnover

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

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 NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

26,172

28,383

Other debtors

5,480

2,880

31,652

31,263

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 7)

2,952

-

Trade creditors

192

6,385

Taxation and social security

3,557

4,040

Other creditors

1,543

1,531

8,244

11,956

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans (see note 7)

8,583

25,000

7.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank loans

2,952

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

8,583

25,000

The loan due has been taken under the government backed Bounce Back Loan Scheme. The government guarantees 100% of the finance to the lender and pays interest for the first 12 months after which the fixed rate of interest of 2.5% will be applied for the duration of the agreed repayment term of the loan.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

150

Ordinary shares

£1

150

150

9.	RELATED PARTY DISCLOSURES

During the year the company was invoiced by Centro Systems Limited £50,000 for management charges. At the year end the company was owed £3,903 by Centro Systems Limited. The directors of the company also own Centro Systems Limited.