REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2023 |
for |
CRONO INVESTMENT LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2023 |
for |
CRONO INVESTMENT LIMITED |
CRONO INVESTMENT LIMITED (REGISTERED NUMBER: 08882350) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
CRONO INVESTMENT LIMITED |
Company Information |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Dover Street |
Mayfair, London |
W1S 4FF |
CRONO INVESTMENT LIMITED (REGISTERED NUMBER: 08882350) |
Statement of Financial Position |
28 FEBRUARY 2023 |
28.2.23 | 28.2.22 |
Notes | € | € | € | € |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CRONO INVESTMENT LIMITED (REGISTERED NUMBER: 08882350) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 111 Park Street, Mayfair, London, W1K 7JF.. |
The principal activity of the company during the year was that of a investment company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. |
The financial statements are prepared in euro, which is the functional currency of the entity. |
Investments in subsidiaries and associates |
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. |
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
28.2.23 | 28.2.22 |
€ | € |
Shares in group undertakings |
Loans to group undertakings |
Participating interests |
CRONO INVESTMENT LIMITED (REGISTERED NUMBER: 08882350) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Shares in |
group | Interest in |
undertakings | associate | Totals |
€ | € | € |
COST |
At 1 March 2022 |
and 28 February 2023 | 257,200 |
NET BOOK VALUE |
At 28 February 2023 | 257,200 |
At 28 February 2022 | 257,200 |
Loans to |
group |
undertakings |
€ |
At 1 March 2022 |
and 28 February 2023 |
At the balance sheet date, the company owned 37.5% of the ordinary share capital of ASG International S.R.L, a company incorporated in Italy. |
At the balance sheet date, the company owned 85.71% of the ordinary share capital of ASG Group Ltd, a company incorporated in Malta. |
The loan to group company is interest free and has a term of one year with automatic renewal at the anniversary date unless notified to pay in full before 90 days in advance. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
€ | € |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Shareholders loan account | 190,506 | 130,506 |
6. | RELATED PARTY DISCLOSURES |
No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102(effective January 2016), other than those disclosed in note 4 & 5 of the financial statements. |