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REGISTERED NUMBER: 02515704 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

French Imports Limited
Trading as
Vivir

French Imports Limited (Registered number: 02515704)
Trading as Vivir






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


French Imports Limited (Registered number: 02515704)
Trading as Vivir

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,387 5,162

CURRENT ASSETS
Stocks 51,800 57,500
Debtors 5 98,601 86,715
Investments 6 1,082 1,082
Cash at bank 602 231
152,085 145,528
CREDITORS
Amounts falling due within one year 7 161,597 154,690
NET CURRENT LIABILITIES (9,512 ) (9,162 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,125 ) (4,000 )

PROVISIONS FOR LIABILITIES 1,097 981
NET LIABILITIES (6,222 ) (4,981 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (16,222 ) (14,981 )
SHAREHOLDERS' FUNDS (6,222 ) (4,981 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Mr A Vij - Director


French Imports Limited (Registered number: 02515704)
Trading as Vivir

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

1. STATUTORY INFORMATION

French Imports Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02515704

Registered office: 160-162 Cheetham Hill Road
Manchester
M8 8LQ

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 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.

Going concern
The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditor of the company is Incablue Ltd whom are owed £63,475 (2022: £75,635). The director/shareholder is prepared to continue to support the development of the company for the next year.

Turnover
Turnover represents amounts receivable for goods and services net of value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Fixtures, fittings and equipment - 15% on reducing balance
Computer equipment - 15% on reducing balance

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 Profit and Loss Account, 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.

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.

French Imports Limited (Registered number: 02515704)
Trading as Vivir

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
to and Computer
property equipment equipment Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 57,869 39,807 2,662 100,338
DEPRECIATION
At 1 August 2022 55,301 38,237 1,638 95,176
Charge for year 385 236 154 775
At 31 July 2023 55,686 38,473 1,792 95,951
NET BOOK VALUE
At 31 July 2023 2,183 1,334 870 4,387
At 31 July 2022 2,568 1,570 1,024 5,162

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,537 16,386
Other debtors 79,064 70,329
98,601 86,715

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 1,082 1,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 59,203 43,911
Trade creditors 10,590 1,874
Taxation and social security 2,709 6,086
Other creditors 89,095 102,819
161,597 154,690

French Imports Limited (Registered number: 02515704)
Trading as Vivir

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 59,203 43,911

The bank overdraft is secured by a mortgage debenture dated 4th September 1990 over the unscheduled assets of the company and also by a first legal charge mortgage dated 19th September 1997 over a Guardian Assurance plc policy.

9. CONTINGENT LIABILITIES

The bank holds a composite guarantee dated 9th January 1997 given by Incablue Limited and Swift Agencies Limited.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr A Vij
Balance outstanding at start of year 3,637 3,744
Amounts advanced (21,327 ) (8,793 )
Amounts repaid 8,955 8,686
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,735 ) 3,637

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company had a loan outstanding to Incablue Limited of £63,475 (2022: £75,635) due to the company, the loan is interest free and has no fixed date for repayment. Mr A Vij is the sole director of Incablue Limited and also a director of French Imports Limited.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Vij.

The company is controlled by its director Mr A Vij by virtue of his 100% ownership of the company's issued share capital.