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Registered number: 13792007










CUBE COLD EUROPE HOLDCO LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

 
CUBE COLD EUROPE HOLDCO LIMITED
REGISTERED NUMBER: 13792007

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
Note

  

Fixed assets
  

Investments
 4 
68,377,712

  
68,377,712

Current assets
  

Debtors
  
14,556,313

Cash at bank and in hand
  
762,271

  
15,318,584

Creditors: amounts falling due within one year
 5 
(2,932,697)

Net current assets
  
 
 
12,385,887

Total assets less current liabilities
  
80,763,599

Net assets
  
80,763,599


Capital and reserves
  

Called up share capital 
  
869,256

Share premium account
  
86,056,245

Profit and loss account
  
(6,161,902)

  
80,763,599


The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




F C W Van Helden
Director

Date: 9 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
CUBE COLD EUROPE HOLDCO LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Total equity



Comprehensive income for the Period

Loss for the Period
-
-
(6,161,902)
(6,161,902)

Shares issued during the Period
869,256
86,056,245
-
86,925,501


At 31 December 2022
869,256
86,056,245
(6,161,902)
80,763,599

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CUBE COLD EUROPE HOLDCO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

Cube Cold Europe Holdco Limited is a private company limited by shares and incorporated in England and Wales. The company incorporated on 9 December 2021.
The registered office is 1 Bartholomew Lane, London, United Kingdom, EC2N 2AX. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Company is exempt by virtue of s400 of Companies Act 2006 from the requirement to prepare group financial statements. These financial statements present information about the Company as an individual undertaking and not about the group.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member

This information is included in the consolidated financial statements of Cube Cold Europe Topco Limited as at 31 December 2022 and these financial statements may be obtained from Companies House.

Page 3

 
CUBE COLD EUROPE HOLDCO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

Page 4

 
CUBE COLD EUROPE HOLDCO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

3.


Employees

The average monthly number of employees, including the directors, during the Period was as follows:


        2022
            No.






Employees
3


4.


Fixed asset investments





Investments in subsidiary companies



Additions
68,377,712



At 31 December 2022
68,377,712


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Cube Cold Europe UK Bidco Limited
1 Bartholomew Lane, London, United Kingdom, EC2N 2AX
Ordinary
100%
Cube Cold Europe NL Holdco BV
Basisweg 10, 1043AP Amsterdam
Ordinary
100%
Cube Cold Europe Belgium Bidco BV
Marnixlaan 23 Box 5, 1000 Brussel
Ordinary
100%


5.


Creditors: Amounts falling due within one year

2022

Trade creditors
1,099,567

Amounts owed to group undertakings
664,507

Accruals and deferred income
1,168,623

2,932,697


Page 5

 
CUBE COLD EUROPE HOLDCO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

6.


Share capital

2022
Allotted, called up and fully paid


869,256 Ordinary Shares shares of 1.00 each
869,256


On 13 January 2022 249,999 €1 Ordinary shares were issued for a value of €100 per share for a total
consideration of €24,999,900
On 25 February 2022 382,081 €1 Ordinary shares were issued for a value of €100 per share for a total
consideration of €38,208,100
On 17 June 2022 237,175 €1 Ordinary shares were issued for a value of €100 per share for a total
consideration of €23,717,500


7.


Related party transactions

The company is taking advantage of the reduced disclosures available for related party disclosures.


8.


Controlling party

The immediate and ultimate parent company of the Company is Cube Cold  Europe Topco Ltd, a company incorporated in England and Wales. 
Cube Cold Europe Topco Ltd is the smallest and largest group which prepares consolidated financial statements of which the Company forms a part.
The consolidated financial statements of the ultimate parent company are available to the public and may be obtained from Companies House.
The Company is a wholly owned subsidiary of Cube Cold Europe Topco Ltd and has taken advantage of the exemption granted by paragraph 8(k) of FRS 101, not to disclose transactions with Cube Cold Europe Topco Ltd group companies or interests of the Group who are related parties.


9.


Auditors' information

The auditors' report on the financial statements for the Period ended 31 December 2022 was unqualified.

The audit report was signed on 10 November 2023 by Tracey Becker (Senior statutory auditor) on behalf of Kreston Reeves LLP.

Page 6