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Registered number: 10321399
For the year ended 31 December 2023
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COMEXPOSIUM CEREALS LIMITED
COMPANY INFORMATION
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COMEXPOSIUM CEREALS LIMITED
CONTENTS
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COMEXPOSIUM CEREALS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The directors present their report and the audited financial statements for the year ended
The principal activity of the Company was the running of the "Cereals" and "Fruit Focus" annual exhibitions prior to the sale of the trade.
The loss for the year, after taxation, amounted to £127,113 (2022 - loss £95,763).
No dividends have been paid or proposed in the year (2022 - £Nil).
The directors who served during the year and up to the date of this report were:
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
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COMEXPOSIUM CEREALS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The financial statements of Comexposium Cereals Limited for the year ended 31 December 2023 have been prepared on a basis other than the going concern basis of preparation. This basis of preparation has been adopted due to the decision to wind down the trading activities of the company for the foreseeable future following the transfer of the trade on 7 January 2022 when the trading activities of the company were sold to a third party.
In preparing these financial statements, management has applied a basis of preparation that reflects the realisation and liquidation of assets and discharge of liabilities in the ordinary course of business, rather than the going concern basis of preparation. Consequently, the assets and liabilities have been measured at their net realisable value so as to reflect the amount of cash or other consideration that the company expects to receive from realising its assets or pay to settle its liabilities as at 31 December 2023.
There have been no significant events affecting the company since the year end.
The auditor, Grant Thornton UK LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
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COMEXPOSIUM CEREALS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
This report was approved by the board and signed on its behalf.
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COMEXPOSIUM CEREALS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMEXPOSIUM CEREALS LIMITED
We have audited the financial statements of Comexposium Cereals Limited (the 'company') for the year ended 31 December 2023, which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
∙give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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COMEXPOSIUM CEREALS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMEXPOSIUM CEREALS LIMITED (CONTINUED)
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
As explained more fully in the directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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COMEXPOSIUM CEREALS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMEXPOSIUM CEREALS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most likely to have a material effect if non-compliance were to occur; financial reporting legislation, distributable profits legislation, tax legislation, anti-bribery legislation, anti-money laundering legislation employment law;
∙We communicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit;
∙We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur, by evaluating management's incentives and opportunities for manipulation of the financial statements. This included the evaluation of the risk of management override of controls. We determined that the principal risks were in relation to:
−potential management bias in determining accounting estimates;
−transactions with related parties;
∙Our audit procedures to address these risks involved:
−Evaluation of the procedures and controls established to address the risks related to irregularities and fraud;
−Testing journal entries, in particular those relating to unusual transactions; and
−Identifying and testing related party transactions;
∙These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non- compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it;
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COMEXPOSIUM CEREALS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMEXPOSIUM CEREALS LIMITED (CONTINUED)
∙We made an assessment of the appropriateness of the collective competence and capabilities of the engagement team which included consideration of the engagement team’s:
−Understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation;
−Knowledge of the industry in which the client operates;
−Understanding of the legal and regulatory requirements specific to the Company;
∙In addition, we completed audit procedures to conclude on the compliance of disclosures in the annual report and accounts with applicable financial reporting requirements.
∙No matters about non-compliance with laws and regulations and fraud were communicated to the engagement team.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
London
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COMEXPOSIUM CEREALS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
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COMEXPOSIUM CEREALS LIMITED
REGISTERED NUMBER: 10321399
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023
The notes on pages 11 to 15 form part of these financial statements.
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COMEXPOSIUM CEREALS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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COMEXPOSIUM CEREALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Comexposium Cereals Limited is a private company limited by shares incorporated in England and Wales. Its registered number is 10321399. The address of its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU.
The principal activity of the Company was the running of the "Cereals" and "Fruit Focus" annual exhibitions prior to the sale of the trade. The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.
2.Accounting policies
In preparing these financial statements, management has applied a basis of preparation that reflects the realisation and liquidation of assets and discharge of liabilities in the ordinary course of business, rather than the going concern basis of preparation. Consequently, the assets and liabilities have been measured at their net realisable value as to reflect the amount of cash or other consideration that the company expects to receive from realising its assets or pay to settle its liabilities as at 31 December 2023.
The following principal accounting policies have been applied:
The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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COMEXPOSIUM CEREALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: • The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and • Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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COMEXPOSIUM CEREALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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COMEXPOSIUM CEREALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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COMEXPOSIUM CEREALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Share premium account
Profit and loss account
The ultimate parent undertaking of the smallest and largest group of undertakings for which group accounts are drawn up and of which the Company is a member is Cassini SAS, a company registered in France. Copies of its consolidated accounts are available to the public and may be obtained from 17 Quai du Président Paul Doumer, 92400 Courbevoie.
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