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REGISTERED NUMBER: 10033913 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Potel et Chabot Ltd

Potel et Chabot Ltd (Registered number: 10033913)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Potel et Chabot Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: L Simonetti
Financiere Louis Sas





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: c/o Pramex International Ltd
8th Floor South
11 Old Jewry
London
United Kingdom
EC2R 8DU





REGISTERED NUMBER: 10033913 (England and Wales)





AUDITORS: HB Accountants
Plumpton House
Plumpton Road
Hoddesdon
Herts
EN11 0LB

Potel et Chabot Ltd (Registered number: 10033913)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 4 3,932 3,767
Cash at bank 20,041 36,169
23,973 39,936
CREDITORS
Amounts falling due within one year 5 153,200 155,757
NET CURRENT LIABILITIES (129,227 ) (115,821 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(129,227

)

(115,821

)

CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Retained earnings (139,227 ) (125,821 )
SHAREHOLDERS' FUNDS (129,227 ) (115,821 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





L Simonetti - Director


Potel et Chabot Ltd (Registered number: 10033913)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Potel et Chabot Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and amounts are rounded to the nearest £.

Potel et Chabot Ltd (Registered number: 10033913)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
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
Basic financial assets, which include debtors, accrued income, prepayments, 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.

Classification of financial liabilities
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
Basic financial liabilities, including creditors, accruals, deferred income and loans from fellow group companies 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.

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.

Potel et Chabot Ltd (Registered number: 10033913)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company for the at least 12 months after the date of the signing of these accounts and for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Deferred tax asset
There is an unrecognised deferred tax asset of £24,701.14 ( 2022 : £23,320 ) at the balance sheet date due to uncertainty around profitability in future years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
VAT 435 446
Prepayments and accrued income 3,497 3,321
3,932 3,767

Potel et Chabot Ltd (Registered number: 10033913)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,141 388
Amounts owed to group undertakings 147,004 150,419
Accruals 5,055 4,950
153,200 155,757

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10,000 Ordinary 1 10,000 10,000

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Keith Grover (Senior Statutory Auditor)
for and on behalf of HB Accountants

8. ULTIMATE CONTROLLING PARTY

The direct parent company is Potel et Chabot SAS a company incorporated in France. Its registered office is at 3 rue de Chaillot, 75116, Paris.

Potel et Chabot SAS prepares group financial statements and copies can be obtained from its registered office at 3 rue de Chaillot, 75116, Paris.

The ultimate parent company and controlling party is Financiere Louis SAS.