Jamesrange (UK) Ltd |
Accountants' Report |
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Accountants' report to the director of |
Jamesrange (UK) Ltd |
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You consider that the company is exempt from an audit for the year ended 31 December 2017. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
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Amedia Accountant and Auditors Ltd |
Accountants |
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Carlyle House 235-237 Vauxhall Bridge Road |
Lower Ground Floor, |
London |
United Kingdom |
SW1V 1EJ |
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8 November 2018 |
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Jamesrange (UK) Ltd |
Registered number: |
06512678 |
Balance Sheet |
as at 31 December 2017 |
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Notes |
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2017 |
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2016 |
€ |
€ |
Fixed assets |
Tangible assets |
2 |
|
|
1,500,000 |
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583,379 |
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Current assets |
Debtors |
3 |
|
2,297 |
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|
297 |
Cash at bank and in hand |
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|
17,999 |
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|
6,886 |
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|
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20,296 |
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|
7,183 |
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Creditors: amounts falling due within one year |
4 |
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(359,566) |
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(235,369) |
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liabilities |
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(339,270) |
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(228,186) |
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Total assets less current liabilities |
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1,160,730 |
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355,193 |
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Creditors: amounts falling due after more than one year |
5 |
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(2,912,115) |
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(538,000) |
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liabilities |
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|
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(1,751,385) |
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(182,807) |
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Capital and reserves |
Called up share capital |
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|
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1,345 |
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|
1,345 |
Profit and loss account |
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|
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(1,752,730) |
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(184,152) |
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Shareholders' funds |
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(1,751,385) |
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(182,807) |
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The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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Carl Buchalet Cirilli |
Director |
Approved by the board on 8 November 2018 |
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Jamesrange (UK) Ltd |
Notes to the Accounts |
for the year ended 31 December 2017 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Land |
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As stated in French Official Notarial Public Deed, dated 28 Mai 2008, relating to a Merger between JameRange ltd and the new entity JamesRange UK ltd. The full document gives an extract of the Official French Property Register, the estimated value of the land held and the value of the mortgages and interest. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Tangible fixed assets |
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Land and buildings |
€ |
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Cost |
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At 1 January 2017 |
583,379 |
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Surplus on revaluation |
916,621 |
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At 31 December 2017 |
1,500,000 |
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Depreciation |
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At 31 December 2017 |
- |
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Net book value |
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At 31 December 2017 |
1,500,000 |
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At 31 December 2016 |
583,379 |
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3 |
Debtors |
2017 |
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2016 |
€ |
€ |
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Director's Current Account |
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2,000 |
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- |
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Other debtors |
297 |
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297 |
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2,297 |
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297 |
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4 |
Creditors: amounts falling due within one year |
2017 |
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2016 |
€ |
€ |
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Accruals |
8,340 |
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- |
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Other Creditors - Paulo Troiano |
90,000 |
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- |
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Other Creditors - Carl Buchalet |
28,000 |
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- |
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Other Creditors - Intexco Paris |
6,500 |
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- |
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Other Creditors - Arythma |
1,920 |
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- |
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Share Holder Loan Account |
115,250 |
|
113,250 |
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Other creditors |
109,556 |
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122,119 |
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359,566 |
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235,369 |
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Other Creditors balance of €109,556 includes €100,889.33 for unknown other creditors and €8,666.67 for deferred income. Shareholders loan of £115,250 is payable to Francis Louvard. For 2016, the loan can be classified as class E and class F for ease of reference. Class E Loan amounts to €65,100 and Class F loan amounts to €48,150. |
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5 |
Creditors: amounts falling due after one year |
2017 |
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2016 |
€ |
€ |
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Accumulated Interest Payable |
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1,434,338 |
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- |
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Other creditors - S A Dyne |
1,477,777 |
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538,000 |
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2,912,115 |
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538,000 |
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6 |
Related party transactions |
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The director hereby notes that, following a change in accountants by the board, a general audit of previous years was conducted by the new accountants, and it was noted that the original property value of the land acquired in France and reflected on the balance sheet was wrongly recorded in previous year accounts. In the same way, the interest from the official debt/mortgages was also understated and did not reflect the reality of the sums due to the debtors/Mortgage holders. The accountants have used the original merger documentation (French Official Notarial Public Deed, dated 28 Mai 2008, relating to a Merger by absorption between JameRange ltd and the new entity JamesRange UK ltd), where the government-recorded land and debt value is inscribed in the official French Land Registry, to determine the true original property cost and the real mortgage-interest figures. Furthermore, as the land is located in France, and the land is already recorded at the true cost in the French Land Registry and the French accounting ledger that was generated by INTEXCO, the French Charted Accountants that were mandated by JamesRange UK ltd, the adjustments have no fiscal consequences for JamesRange UK ltd and corresponding adjustments have thus been made to the 2017 financial statements to reflect the real value of the balance sheet. |
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7 |
Other information |
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Jamesrange (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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9 Mansfield Street |
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London |
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W1G9NY |