The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Cero Cabs Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Azets, Burnham Yard, London End, Beaconsfield, Bucks, United Kingdom, HP9 2JH.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

These accounts have been prepared on a basis other than the going concern basis as the sole fixed asset investment held by the company reached a condition for crystallisation in October 2024, so the director anticipates that the company will be wound up upon realisation of the investment.

Whilst prepared on a basis other than going concern, there are no material departures from FRS 102 section 1A within these financial statements.

Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the fair value reserve.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

The average monthly number of persons (including directors) employed by the company during the year was:

The fixed asset investment held by the company met a condition for crystallisation in October 2024.  The disposal proceeds of this investment total could not be estimated at the point these financial statements were approved.

An advance has been granted by the company to its directors of £1,080 (2023: £nil).