Company Registration No. 02617529 (England and Wales)
Centerland Limited
Unaudited accounts
for the year ended 30 June 2017
Centerland Limited
Unaudited accounts
Contents
Centerland Limited
Company Information
for the year ended 30 June 2017
Company Number
02617529 (England and Wales)
Registered Office
CHURCHILL HOUSE SUITE 301
120 BUNNS LANE MILL HILL
LONDON
NW7 2AS
Accountants
Platts
Churchill House, Suite 301
120 Bunns Lane
Mill Hill
London
NW7 2AS
Centerland Limited
Statement of financial position
as at 30 June 2017
Investment property
959,000
870,000
Cash at bank and in hand
78,722
79,186
Creditors: amounts falling due within one year
(651,751)
(506,446)
Net current liabilities
(243,201)
(57,872)
Total assets less current liabilities
715,830
812,170
Provisions for liabilities
Deferred tax
(55,326)
(38,226)
Net assets
660,504
773,944
Called up share capital
200
200
Revaluation reserve
224,803
152,903
Profit and loss account
430,601
615,941
Shareholders' funds
660,504
773,944
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 February 2018.
Mr G R Hamblyn
Director
Company Registration No. 02617529
Centerland Limited
Notes to the Accounts
for the year ended 30 June 2017
Centerland Limited is a private company, limited by shares, registered in England and Wales, registration number 02617529. The registered office is CHURCHILL HOUSE SUITE 301, 120 BUNNS LANE MILL HILL, LONDON, NW7 2AS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
30 June 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
12 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents income from property investment.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Centerland Limited
Notes to the Accounts
for the year ended 30 June 2017
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 July 2016
870,000
Net gain from fair value adjustments
89,000
Amounts due from group undertakings etc.
329,828
369,388
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
3,278
8,732
Amounts owed to group undertakings and other participating interests
640,349
490,648
Taxes and social security
106
106
Loans from directors
505
-
8
Deferred taxation
2017
2016
Revaluation of investment property
55,326
38,226
Centerland Limited
Notes to the Accounts
for the year ended 30 June 2017
Provision at start of year
38,226
63,330
Charged/(credited) to other comprehensive income
17,100
(25,104)
Provision at end of year
55,326
38,226
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
10
Transactions with related parties
The director and his wife hold the Company's entire Issued Ordinary Share Capital.
The Related Company Loan Debtors detailed in Note 7 are represented by Winyates Property Investment Limited, Church Road Investment Limited, Benchrealm Limited and Avon Properties Limited in the sums of £222,548 (2016 - £265,978), £9,750 (2016 - £10,000), £96,530 (2016 - £82,410) and £1,000 (2016 - £11,000) respectively in which Mr G R Hamblyn is a Director and Shareholder and are interest free and repayable on demand.
The Related Company Loan Creditors detailed in Note 8 are represented by St Mary's Estates Management Limited and Globe Universal Limited in the sums of £314,450 (2016 - £314,910) and £325,899 (2016 - £175,738), respectively in which Mr G R Hamblyn is a Director and Shareholder and are interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 1 (2016: 1).
12
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 July 2015
30 June 2016
Capital and reserves (as previously stated)
851,949
812,170
Deferred tax on property revaluation
(63,330)
(38,226)
Capital and reserves (as restated)
788,619
773,944
