Company registration number 14007284 (England and Wales)
CREF3 EU HOLDINGS I LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
CREF3 EU HOLDINGS I LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CREF3 EU HOLDINGS I LTD
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
Notes
£
£
Fixed assets
Investments
3
1
Current assets
Debtors
4
1
Creditors: amounts falling due within one year
5
(1)
Net current assets
-
0
Net assets
1
Capital and reserves
Called up share capital
6
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 October 2023 and are signed on its behalf by:
N Fegan
Director
Company Registration No. 14007284
CREF3 EU HOLDINGS I LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

CREF3 EU Holdings I Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 7 Clarges Street, London, United Kingdom, W1J 8AE.

1.1
Reporting period

The company was incorporated on 28 March 2022 and as such the financial statements have been prepared for the period of less than one year from the date of incorporation to 31 December 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

The directors have assessed the company’s ability to meet its debts as they fall due and have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of not less than 12 months from the date of these financial statements. On this basis, the directors continue to adopt the going concern basis of accounting in preparing these financial statements.true

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CREF3 EU HOLDINGS I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include loans to fellow group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.7
Borrowing costs

Interest is recognised in profit or loss in the period in which it is incurred.

 

Other finance costs are recognised in profit or loss as finance costs over the term of the associated borrowings.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
Number
Total
2
3
Fixed asset investments
2022
£
Shares in group undertakings
1
CREF3 EU HOLDINGS I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost
At 28 March 2022
-
Additions
2
Disposals
(1)
At 31 December 2022
1
Carrying amount
At 31 December 2022
1
4
Debtors
2022
Amounts falling due within one year:
£
Amounts owed by parent undertaking
1

Amounts owed by parent undertaking are unsecured, interest free and repayable on demand.

5
Creditors: amounts falling due within one year
2022
£
Amounts owed to group undertakings
1

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

6
Called up share capital
2022
2022
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1

Upon incorporation, 1 Ordinary share was issued at par in order to establish the capital structure of the company.

7
Related party transactions

The company has taken advantage of the exemption contained in FRS 102 Section 33 'Related Party Disclosures' from disclosing transactions with entities which are a wholly owned part of the group.

CREF3 EU HOLDINGS I LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 5 -
8
Parent company

The parent undertaking of CREF3 EU Holdings I Ltd is CREF3 Euro Industrial Holdings III L.P, a limited partnership registered in the Cayman Islands, which is regarded by the directors as being the ultimate parent undertaking.

 

The directors consider the company’s ultimate controlling party to be FRO Fund III GP LLC, a company registered in the United States of America, by virtue of its status as general partner of the investment fund which owns CREF3 Euro Industrial Holdings III L.P.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Richard Behan FCA.
The auditor was Kingswood LLP.
2022-12-312022-03-28false26 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedCyril CourbageNicholas Fegan140072842022-03-282022-12-31140072842022-12-3114007284core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3114007284core:ShareCapital2022-12-3114007284bus:Director22022-03-282022-12-3114007284core:CurrentFinancialInstruments2022-12-3114007284bus:PrivateLimitedCompanyLtd2022-03-282022-12-3114007284bus:SmallCompaniesRegimeForAccounts2022-03-282022-12-3114007284bus:FRS1022022-03-282022-12-3114007284bus:Audited2022-03-282022-12-3114007284bus:Director12022-03-282022-12-3114007284bus:FullAccounts2022-03-282022-12-31xbrli:purexbrli:sharesiso4217:GBP