CEREP_ATHOS_MANRESA_ROAD_ - Accounts

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

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

CEREP Athos Manresa Road Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, Imperial House, 15 Kingsway, London, WC2B 6UN. Trading address is care of The Carlyle Group, 1 St James's Market, London, SW1Y 4AH, United Kingdom.

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. The principal accounting policies adopted are set out below.

The directors do not believe that the company is a going concern as it has disposed of its only trading asset in the prior year. The company will therefore not continue to trade in the future.

The accounts have been adjusted to reclassify all assets and liabilities as current assets and liabilities, and to recalculate all items to their recoverable amounts where necessary.

Turnover is recognised at the fair value of the consideration received or receivable for property sales provided in the normal course of business.

Revenue is recognised when the significant risks and rewards of ownership of the property have passed to the buyer (usually on exchange of contract), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 debtors and 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 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. 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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Included within other creditors is a loan of £nil (2017: £13 million) due to Athos (Manresa Road) Limited, the immediate parent company. The loan is unsecured, repayable on demand, and interest is accruing on this amount at a rate of 5.5% per annum.

Also included within other creditors is an intercompany balance with Athos (Manresa Road) Limited of £2,814,794 (2017: £1,622,391) which is unsecured, interest free, and repayable on demand.

As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Included in other creditors is an amount of £2,814,794 (2017: £1,622,391) due to Athos (Manresa Road) Limited being an interest free intercompany balance repayable on demand.

Included in other creditors are payments made by Athos (Manresa Road) Limited (parent company) totalling £nil (2017: £305,671) which are due to be charged after the year end.

The company's immediate parent company is Athos (Manresa Road) Limited having its registered office at One The Esplanade, St Helier, Jersey JE2 3QA. There is no ultimate controlling party.