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REGISTERED NUMBER: 07814559 (England and Wales)















C&C Global Arbitrage Limited

Financial Statements

for the Year Ended 31 December 2023






C&C Global Arbitrage Limited (Registered number: 07814559)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


C&C Global Arbitrage Limited

Company Information
for the year ended 31 December 2023







Directors: W J Charlton III
R P Cohen
M A Kalishman





Registered office: The Scalpel
18th Floor
52 Lime Street
London
EC3M 7AF





Registered number: 07814559 (England and Wales)






C&C Global Arbitrage Limited (Registered number: 07814559)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Current assets
Debtors 5 3,559,017 3,771,748

Creditors
Amounts falling due within one year 6 13,210 14,000
Net current assets 3,545,807 3,757,748
Total assets less current liabilities 3,545,807 3,757,748

Capital and reserves
Called up share capital 3,164,557 3,164,557
Other reserves 698,668 910,609
Retained earnings (317,418 ) (317,418 )
9 3,545,807 3,757,748

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:





M A Kalishman - Director


C&C Global Arbitrage Limited (Registered number: 07814559)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

C&C Global Arbitrage Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgements in applying the Company's accounting policies
The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the Company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

(b) Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the exchange rate prevailing at that date the transaction took place. Where this is not possible to determine, income and expense items are translated using an average exchange rate for the period.

Monetary assets and liabilities denominated in foreign currencies at the reporting date are reported at the rates of exchange prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at the reporting date of monetary assets and liabilities are reported in the balance sheet.

C&C Global Arbitrage Limited (Registered number: 07814559)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds both basis and complex financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments derivative financial instruments, trade and other payables, convertible loan notes and loans and borrowings. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments.

Financial assets - classified as basic financial instruments

(i) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.
At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

Equity
Equity instruments are classified in accordance with the substance of contractual agreement. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Equity instruments issued by the Company are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 January 2023
and 31 December 2023 5,322
Depreciation
At 1 January 2023
and 31 December 2023 5,322
Net book value
At 31 December 2023 -
At 31 December 2022 -

C&C Global Arbitrage Limited (Registered number: 07814559)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 3,559,017 3,771,748

6. Creditors: amounts falling due within one year
2023 2022
£ £
Accrued expenses 13,210 14,000

7. Related party disclosures

At the year end £3,559,017 (2022: £3,771,748) is owed by C&C Global Markets LLC to the company.

8. Ultimate controlling party

The Company is under the control of C&C Global Markets LLC, a company incorporated in Delaware, USA. The ultimate controllers of this company are Robert Cohen, Robert Cocchi, Michele Kalishman and William Charlton.

9. Reconciliation of movements in reserves
2023 2022
£ £
Loss for the financial year - (234 )
Other comprehensive income relating to the year (net) (211,941 ) 430,959
Net (reduction)/addition to reserves (211,941 ) 430,725
Opening reserves 3,757,748 3,327,023
Closing reserves 3,545,807 3,757,748