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Company No: 10634076 (England and Wales)

CEDRIC 41 LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CEDRIC 41 LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CEDRIC 41 LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
CEDRIC 41 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 1,623,944 1,623,944
1,623,944 1,623,944
Current assets
Debtors 5 4,838 1,000
Cash at bank and in hand 22,894 47,458
27,732 48,458
Creditors: amounts falling due within one year 6 ( 28,830) ( 26,730)
Net current (liabilities)/assets (1,098) 21,728
Total assets less current liabilities 1,622,846 1,645,672
Creditors: amounts falling due after more than one year 7 ( 431,900) ( 431,900)
Net assets 1,190,946 1,213,772
Capital and reserves
Called-up share capital 8 1,294,280 1,294,280
Profit and loss account ( 103,334 ) ( 80,508 )
Total shareholder's funds 1,190,946 1,213,772

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Cedric 41 Limited (registered number: 10634076) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A Soares
Director

17 March 2025

CEDRIC 41 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CEDRIC 41 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cedric 41 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

These financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council 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 presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the group financial statements of its parent company, Cedric Management Lda. The registered office address of Cedric Management Lda is Lote A-94, Estrada da Labreca, 2870-759 Atalaia-Montijo, Portugal.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents rents receivable and is recognised to the extent that it is probable that economic benefits will flow to the company and arises solely in the United Kingdom.

Tangible fixed assets

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery etc. 4 years straight line
Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to and from related parties.

Financial assets
Basic financial assets, including other debtors, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial liabilities
Basic financial liabilities, including other creditors and accruals, 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 receipts discounted at a market rate of interest.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 0 0

The comparative number has been adjusted to exclude those directors who are not employed under contracts of service.

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 32,703 32,703
At 31 December 2024 32,703 32,703
Accumulated depreciation
At 01 January 2024 32,703 32,703
At 31 December 2024 32,703 32,703
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 1,623,944
As at 31 December 2024 1,623,944

At the reporting date the directors considered the fair value of the investment property to be equal to its acquisition cost.

5. Debtors

2024 2023
£ £
Other debtors 4,838 1,000

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 28,830 26,730

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to parent undertakings 431,900 431,900

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,294,280 Ordinary shares of £ 1.00 each 1,294,280 1,294,280