Accounts filed on 31-03-2014

trueCentonex Limited043670192014-03-31-11862381-11762481100100-117624810278-11762759-40942-221115739742106164551999511445149955010500029180228702918022870Basis of accounting The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared on the going concern basis. This basis may not be appropriate because the company has net liabilities at 31 March 2014. The future of the company is dependent upon the continued support of the bank and the creditors. The accounts do not include any provisions for liabilities that may arise if the bank or the creditors support is withdrawn. Turnover The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Operating lease agreements Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Fixed Assets All fixed assets are initially recorded at cost. Financial Instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Equipment15% reducing balance method0.0000476933628411539-13018513134145149-50476933628411539-1301851313414-5051490278Ordinary1000110001000Ordinary11001001002014-06-30Mr M Wofindentruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureCentonex Limited2013-04-012014-03-31Centonex Limited2012-04-012013-03-31Centonex Limited2012-03-31Centonex Limited2013-03-31Centonex Limited2013-03-31Centonex Limited2014-03-31 2014-07-08