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REGISTERED NUMBER: 11947544 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

FRENCH QUARTER LIMITED

FRENCH QUARTER LIMITED (REGISTERED NUMBER: 11947544)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FRENCH QUARTER LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: G Glipa
Noctis Event Sas
S Pacault



REGISTERED OFFICE: 13 - 15 West Street
London
WC2E 9NE



REGISTERED NUMBER: 11947544 (England and Wales)



ACCOUNTANTS: Sterling Associates
Chartered Certified Accountants
5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN



SOLICITORS: Travers Smith LLP
10 Snow Hill
London EC1A 2AL

FRENCH QUARTER LIMITED (REGISTERED NUMBER: 11947544)

Statement of Financial Position
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,818,212 3,382,135

CURRENT ASSETS
Stocks 5 121,094 122,954
Debtors 6 192,270 183,723
Cash at bank 164,499 571,326
477,863 878,003
CREDITORS
Amounts falling due within one year 7 1,097,274 750,805
NET CURRENT (LIABILITIES)/ASSETS (619,411 ) 127,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,198,801

3,509,333

CREDITORS
Amounts falling due after more than one
year

8

6,815,732

7,006,354
NET LIABILITIES (4,616,931 ) (3,497,021 )

CAPITAL AND RESERVES
Called up share capital 11 10 10
Retained earnings 12 (4,616,941 ) (3,497,031 )
SHAREHOLDERS' FUNDS (4,616,931 ) (3,497,021 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





G Glipa - Director


FRENCH QUARTER LIMITED (REGISTERED NUMBER: 11947544)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

French Quarter Limited 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.

2. ACCOUNTING POLICIES

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

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
No depreciation Is provided in the accounts as the company, at the period end date, was in the stage of refurbishment of the property.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The holding company, Noctis SAS, has confirmed that it will provide financial support to French Quarter Limited in order that the company can meet its liabilities as they fall due, and that this support will be effective for a period of at least one year from the date of signing of the accounts for the year ended 31 December 2022.

FRENCH QUARTER LIMITED (REGISTERED NUMBER: 11947544)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 91 (2021 - 83 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and
leasehold property fittings Totals
£    £    £    £   
COST
At 1 January 2022 499,243 2,525,050 1,122,443 4,146,736
Additions - - 25,028 25,028
At 31 December 2022 499,243 2,525,050 1,147,471 4,171,764
DEPRECIATION
At 1 January 2022 66,565 324,816 373,220 764,601
Charge for year 49,925 251,830 287,196 588,951
At 31 December 2022 116,490 576,646 660,416 1,353,552
NET BOOK VALUE
At 31 December 2022 382,753 1,948,404 487,055 2,818,212
At 31 December 2021 432,678 2,200,234 749,223 3,382,135

5. STOCKS
2022 2021
£    £   
Stocks 121,094 122,954

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 53,227 54,904
Other debtors 3,540 3,758
VAT - 262
Prepayments and accrued income 135,503 124,799
192,270 183,723

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 440,428 280,067
Social security and other taxes 69,118 136,211
Netwages control - 230
Pension 4,680 7,500
VAT 169,755 -
Other creditors 72,322 226
Accruals and deferred income 340,971 326,571
1,097,274 750,805

FRENCH QUARTER LIMITED (REGISTERED NUMBER: 11947544)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans (see note 9) 2,481,900 3,223,567
Amounts owed to group undertakings 4,333,832 3,782,787
6,815,732 7,006,354

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 360,000 400,000

The balance disclosed under "amounts due to group undertaking" relates to loan from the holding company which is unsecured. The company accounts includes provision of interest payable to the holding company in the sum of £361,357 (2021: £310,688) on the sum borrowed from the holding company at interest rate of 5% per annum.

9. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 2,121,900 2,823,567

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 360,000 400,000

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 410,000 410,000
Between one and five years 1,640,000 1,640,000
In more than five years 4,100,000 4,100,000
6,150,000 6,150,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £0.10 10 10

FRENCH QUARTER LIMITED (REGISTERED NUMBER: 11947544)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


12. RESERVES
Retained
earnings
£   

At 1 January 2022 (3,497,031 )
Deficit for the year (1,119,910 )
At 31 December 2022 (4,616,941 )

13. ULTIMATE CONTROLLING PARTY

Noctis Event SAS, a company incorporated in France is the immediate parent company of French Quarter Limited. There is no ultimate controlling party.