CEN Group Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04754447 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st May 2014

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 2014 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 at icaew.com/membershandbook.

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 AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law,

we do not accept or assume responsibility to anyone other than the company and its 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

2nd January 2015

FIXED ASSETS

Tangible assets

2

1,147,841

1,019,979

CURRENT ASSETS

Stocks

91,474

51,827

Debtors

320,267

252,516

Cash at bank and in hand

206,101

159,649

617,842

463,992

CREDITORS

Amounts falling due within one year

3

593,687

494,446

NET CURRENT ASSETS/(LIABILITIES)

24,155

(30,454

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,171,996

989,525

CREDITORS

Amounts falling due after more than one year

3

(525,320

)

(549,413

)

PROVISIONS FOR LIABILITIES

(119,949

)

(72,802

)

NET ASSETS

526,727

367,310

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

525,727

366,310

SHAREHOLDERS' FUNDS

526,727

367,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2014 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 2nd January 2015 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 April 2008).

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

-

33.3% straight line, 25% on reducing balance and straight line over their estimated lives

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.

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 2013

1,226,540

Additions

277,653

Disposals

(118,000

)

At 31st May 2014

1,386,193

DEPRECIATION

At 1st June 2013

206,561

Charge for year

96,068

Eliminated on disposal

(64,277

)

At 31st May 2014

238,352

NET BOOK VALUE

At 31st May 2014

1,147,841

At 31st May 2013

1,019,979

3.

CREDITORS

Creditors include an amount of £ 676,650 (2013 - £ 664,967 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

1

1,000

1,000