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REGISTERED NUMBER: 08882350 (England and Wales)















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: M Zahra





SECRETARY: Bradley Carr Limited





REGISTERED OFFICE: 111 Park Street, Mayfair
London
W1K 7JF





REGISTERED NUMBER: 08882350 (England and Wales)





ACCOUNTANTS: A.C.T. London Limited
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 4 258,840 258,840

CURRENT ASSETS
Cash at bank 3,940 4,500

CREDITORS
Amounts falling due within one year 5 243,457 231,466
NET CURRENT LIABILITIES (239,517 ) (226,966 )
TOTAL ASSETS LESS CURRENT LIABILITIES 19,323 31,874

CAPITAL AND RESERVES
Called up share capital 120,390 120,390
Retained earnings (101,067 ) (88,516 )
19,323 31,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 14 November 2023 and were signed by:





M Zahra - Director


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 1,200 1,200
Loans to group undertakings 1,640 1,640
Participating interests 256,000 256,000
258,840 258,840

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 1,200 256,000 257,200
NET BOOK VALUE
At 28 February 2023 1,200 256,000 257,200
At 28 February 2022 1,200 256,000 257,200
Loans to
group
undertakings
At 1 March 2022
and 28 February 2023 1,640

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 11,991 -
Amounts owed to group undertakings 960 960
Other creditors 40,000 100,000
Shareholders loan account 190,506 130,506
243,457 231,466

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.