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Registration number: 06221078

Boulangerie de Paris Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Boulangerie de Paris Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Boulangerie de Paris Limited

Company Information

Directors

A Caspar

M A Bacha

P Caspar

Registered office

26 Riverside Way
Uxbridge
UB8 2YF

 

Boulangerie de Paris Limited

(Registration number: 06221078)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

168,352

152,152

Current assets

 

Stocks

5

22,902

18,063

Debtors

6

320,428

186,211

Cash at bank and in hand

 

657,244

473,681

 

1,000,574

677,955

Creditors: Amounts falling due within one year

7

(330,932)

(193,399)

Net current assets

 

669,642

484,556

Total assets less current liabilities

 

837,994

636,708

Creditors: Amounts falling due after more than one year

7

(32,533)

(53,919)

Provisions for liabilities

(33,140)

(28,909)

Net assets

 

772,321

553,880

Capital and reserves

 

Called up share capital

91

91

Other reserves

(400,791)

(400,791)

Profit and loss account

1,173,021

954,580

Total equity

 

772,321

553,880

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Boulangerie de Paris Limited

(Registration number: 06221078)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 4 May 2022 and signed on its behalf by:
 

.........................................
A Caspar
Director

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26 Riverside Way
Uxbridge
UB8 2YF
United Kingdom

These financial statements were authorised for issue by the Board on 4 May 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

in accordance with the property

Plant and machinery

25% straight line basis

Motor vehicles

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2020 - 24).

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2021

6,074

101,445

306,992

414,511

Additions

52,016

-

12,899

64,915

Disposals

-

-

(2,188)

(2,188)

At 31 December 2021

58,090

101,445

317,703

477,238

Depreciation

At 1 January 2021

6,074

31,179

225,106

262,359

Charge for the year

2,378

20,289

25,880

48,547

Eliminated on disposal

-

-

(2,020)

(2,020)

At 31 December 2021

8,452

51,468

248,966

308,886

Carrying amount

At 31 December 2021

49,638

49,977

68,737

168,352

At 31 December 2020

-

70,266

81,886

152,152

Contained within tangible assets, all assets under motor vehicles are held under hire purchase and finance lease agreements.

5

Stocks

2021
£

2020
£

Other inventories

22,902

18,063

6

Debtors

Current

2021
£

2020
£

Trade debtors

240,678

84,765

Prepayments

33,501

72,747

Other debtors

46,249

28,699

 

320,428

186,211

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

20,487

24,962

Trade creditors

 

137,515

86,668

Taxation and social security

 

81,969

44,823

Accruals and deferred income

 

17,880

9,938

Other creditors

 

73,081

27,008

 

330,932

193,399

Other creditors is made up of corporation tax payable, wages payable, pensions payable, and sales payments on account.

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

32,533

53,919

 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Finance lease liabilities

32,533

53,919

2021
£

2020
£

Current loans and borrowings

Bank borrowings

-

5,538

Finance lease liabilities

20,487

19,424

20,487

24,962


Bank borrowings
The carrying amount of bank loan at year end was £Nil (2020 - £5,538).

The bank loan was secured by a fixed and floating charge over all the assets of the company.

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary Shares of £0.01 each

9,087

90.87

9,087

90.87

         

10

Dividends

Interim dividends paid

   

2021
£

 

2020
£

Dividend paid

 

-

 

437,500

         
 

Boulangerie de Paris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2021
£

2020
£

Not later than one year

74,000

74,000

Later than one year and not later than five years

61,667

135,667

135,667

209,667

12

Control

No controlling party has been identified.