CEN Group Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04754447 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st May 2016

for

CEN GROUP LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

Mr G A Cross

Mr S D Cross

SECRETARY:

Mr G A Cross

REGISTERED OFFICE:

Unit 14a

Tamebridge Industrial Estate

Aldridge Road

Perry Barr

Birmingham

B42 2TX

REGISTERED NUMBER:

04754447 (England and Wales)

ACCOUNTANTS:

Barrons

Chartered Accountants

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of CEN Group Limited for the year ended 31st May 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CEN Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CEN Group Limited and state those matters that we have agreed to state to the Board of Directors of CEN Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CEN Group Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CEN Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CEN Group Limited. You consider that CEN Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CEN Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Barrons

Chartered Accountants

Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HN

7th November 2016

FIXED ASSETS

Tangible assets

2

1,696,227

1,463,471

CURRENT ASSETS

Stocks

263,170

173,089

Debtors

593,512

516,545

Cash at bank and in hand

335,889

79,978

1,192,571

769,612

CREDITORS

Amounts falling due within one year

3

1,034,567

778,341

NET CURRENT ASSETS/(LIABILITIES)

158,004

(8,729

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,854,231

1,454,742

CREDITORS

Amounts falling due after more than one
year

3

(863,154

)

(695,746

)

PROVISIONS FOR LIABILITIES

(208,152

)

(149,176

)

NET ASSETS

782,925

609,820

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

781,925

608,820

SHAREHOLDERS' FUNDS

782,925

609,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 7th November 2016 and were signed on its behalf
by:

Mr G A Cross - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net sales of goods and services for the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

33.3% straight line

Plant and machinery etc

-

25% on reducing balance and 10/15% straight line

The Heritage Fleet are not depreciated. The directors consider the market value of these vehicles to be higher

than the cost value shown in the accounts and therefore feel it is not appropriate to depreciate these assets.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Government grants

The company received grants in the year relating to the purchase of environmentally friendly buses and work in

regards to a feasibility study and pilot for improved access to public transport.

Grants received in relation to the purchase of buses are being released evenly over a 5 year period.

Grants received in relation to feasibility work are offset against costs as they are incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2015

1,818,306

Additions

414,084

Disposals

(63,675

)

At 31st May 2016

2,168,715

DEPRECIATION

At 1st June 2015

354,835

Charge for year

136,337

Eliminated on disposal

(18,684

)

At 31st May 2016

472,488

NET BOOK VALUE

At 31st May 2016

1,696,227

At 31st May 2015

1,463,471

3.

CREDITORS

Creditors include an amount of £ 1,263,757 (2015 - £ 920,915 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

500

Ordinary A

£1

500

Ordinary B

£1

500

1,000