REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Alchimie U.k. Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Alchimie U.k. Ltd |
Alchimie U.k. Ltd (Registered number: 12154738) |
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 |
Alchimie U.k. Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants and |
Statutory Auditors |
9 Exchange Place |
International Financial Services Centre |
Dublin 1 |
Ireland |
BANK: |
Centre d’Affaires Régional Paris Rive Dr |
Droite 36-38 Rue Saint Pétersbourg 75008 |
Santander UK plc |
Bridle Road Bootle |
Merseyside L30 4GB |
Alchimie U.k. Ltd (Registered number: 12154738) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Alchimie U.k. Ltd (Registered number: 12154738) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Alchimie U.k. Ltd is a |
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 on a going concern basis and under the historical cost convention. |
The functional currency and the presentation currency of the financial statements is the Pound Sterling (£). |
Turnover |
Turnover represents amounts receivable, under contracts for services, net of Value Added Tax. Turnover is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year. |
Alchimie U.k. Ltd (Registered number: 12154738) |
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, loans from fellow group companies, 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 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. |
Alchimie U.k. Ltd (Registered number: 12154738) |
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. |
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. |
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. |
Loan agreement policy |
Alchimie UK LTD has entered into a treasury agreement with Alchimie SA where : |
- Alchimie SA will lend the amount to the company to cover its short-term cash adjustment needs without having recourse to financing from outside the Group. |
- Alchimie UK Ltd will deposit with Alchimie SA any Surplus cash . |
Each loan or advance shall bear interest at the EONIA rate for the period concerned, plus a margin of 0.75% of the principal. |
In the event that the rate reference disappears, it will be replaced by the equivalent rate set up by the financial authorities of the Paris market. |
The agreement concluded for a year, is tacitly renewable for equal periods, unless terminated by either of the Parties by registered letter with acknowledgement of receipt no later than three months before the end of the period in question. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Alchimie U.k. Ltd (Registered number: 12154738) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Accrued income and prepayments |
Amounts owing by the group undertakings are unsecured, interest free and repayable on demand. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 7,914 | 10,803 |
Other creditors |
Accruals |
Deferred income |
Trade creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms. |
The term of the accruals are based on the underlying contracts. |
Taxes including social insurance are payable at various dates over the coming months in accordance with the applicable statutory provisions. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed to group undertakings |
Amounts owing to the group undertakings are subject to the EONIA interest rate plus a margin on the principal of 0.75% as per the agreement between Alchimie U.K. Limited and Alchimie SA |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Alchimie U.k. Ltd (Registered number: 12154738) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued |
GOING CONCERN |
The Financial Statements have been prepared on the going concern basis which assumes the entity will continue in operational existence for the foreseeable future and for at least a period of 12 months from the date of approval of the Financial Statements. |
The Directors have considered the financial position and trading performance of the company, along with the current and potential future impact of the current government measures to address the COVID-19 Coronavirus emergency and the potential cost impacts from the war in Ukraine. |
The Board of Directors acknowledge that the future success of the company is underpinned by the successful achievement of the budgeted targets identified in their forecasts and projections in conjunction with the optimisation of the developing business opportunities and most significantly the continued receipt of funding and support from the parent company Alchimie SA. |
This is also dependent on projected cost savings and the availability of funding from the group with the cash balance as held at Parent company level. |
At the date of approval of the financial statements the board of directors have received confirmation from the parent company not to call for repayment of the intercompany loan balance of £4,661,705 for a minimum a period of 12 months from the date of approval of these financial statements. |
The parent company has also confirmed its intention to provide continued financial support to the company in order to ensure that the company remains in operational existence for the foreseeable future, and at a minimum a period of 12 months from the date of approval of these financial statements. |
8. | RELATED PARTY DISCLOSURES |
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. |
9. | ULTIMATE CONTROLLING PARTY |
The immediate parent undertaking is Alchimie SA, a company incorporated in France, whose registered address is Alchimie Bat 264 45 Avenue Victor Hugo, Aubervilliers, 93300. |
The ultimate controling party with 53% is HLD Europe SCA, an investment fund incorporated in Luxembourg. |
10. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
There have been no significant events affecting the company since the financial year end. |
Alchimie U.k. Ltd (Registered number: 12154738) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | APPROVAL OF FINANCIAL STATEMENTS |
The board of directors approved these financial statements for issue on 28 June 2024. |