| REGISTERED NUMBER: |
| CEDRUS STORAGE LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| REGISTERED NUMBER: |
| CEDRUS STORAGE LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| CEDRUS STORAGE LIMITED (REGISTERED NUMBER: 10396249) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 28 February 2025 |
| Page |
| Abridged Balance Sheet | 1 | to | 2 |
| Notes to the Financial Statements | 3 | to | 4 |
| CEDRUS STORAGE LIMITED (REGISTERED NUMBER: 10396249) |
| ABRIDGED BALANCE SHEET |
| 28 February 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| ( |
) |
| 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. |
| CEDRUS STORAGE LIMITED (REGISTERED NUMBER: 10396249) |
| ABRIDGED BALANCE SHEET - continued |
| 28 February 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CEDRUS STORAGE LIMITED (REGISTERED NUMBER: 10396249) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 28 February 2025 |
| 1. | STATUTORY INFORMATION |
| Cedrus Storage Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 (2024 - NIL). |
| CEDRUS STORAGE LIMITED (REGISTERED NUMBER: 10396249) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 28 February 2025 |
| 4. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 March 2024 | 7,166,696 |
| Disposals | (7,166,696 | ) |
| At 28 February 2025 | - |
| NET BOOK VALUE |
| At 28 February 2025 | - |
| At 29 February 2024 | 7,166,696 |
| 5. | SECURED DEBTS |
| During the year all fixed and floating charges held by The British Arab Commercial Bank Plc over the company's assets were satisfied. |
| 6. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Creditors include loans from the directors totalling £11,000 (2024: £495,000). Maximum balance £495,000 (2024: 495,000). Interest is charged at 3% above base rate. The loans are unsecured with no fixed terms for repayment. |
| During the term of the loans the total interest accrued and not paid amounted to £327,077 (2024: £306,573). At the year end, the director's have waived their right to all accrued interest not paid totalling £327,077 which has been recongnised as income in the financial statements. |
| On the 25th February 2025 the company entered into an agreement to act as a guarantor for a loan to Mr Ranawat for a maximum amount of £1m with Arbuthnot Latham & Co. The company has no further liability in respect of the loan drawn down by Mr Ranawat. The £1m security deposit is held by Arbuthnot Latham & Co. returning interest of 1% per annum to the company. In the event of default by Mr Ranawat, the £1m security deposit will be utilised by Arbuthnot Latham & Co to satisfy all outsanding capital and interest payments owing. At the year end, no such defaults had occurred. |
| 7. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by its directors, by virtue of their shareholdings. |