Registered number: 06913919
EARL OF SANDWICH (PARIS) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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EARL OF SANDWICH (PARIS) LIMITED
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CONTENTS
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Statement of changes in equity
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Notes to the financial statements
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EARL OF SANDWICH (PARIS) LIMITED
REGISTERED NUMBER:06913919
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BALANCE SHEET
AS AT 31 DECEMBER 2023
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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EARL OF SANDWICH (PARIS) LIMITED
REGISTERED NUMBER:06913919
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 7 form part of these financial statements.
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EARL OF SANDWICH (PARIS) LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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Comprehensive income for the year
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At 1 January 2023 (as previously stated)
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Prior year adjustment - correction of error
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At 1 January 2023 (as restated)
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Comprehensive income for the year
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The notes on pages 4 to 7 form part of these financial statements.
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3
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EARL OF SANDWICH (PARIS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Earl of Sandwich (Paris) Limited is a private company, limited by shares, registered in Englad and Wales, registration number 06913919. The registered office is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is C/o Planet Hollywood, St Albans House, 57-60 Haymarket, London, SW1Y 4QX.
The principal activity of the company is that of a holding company of the 100% owned subsidiary, Earl of Sandwich (Paris) SARL which provides catering services to the public.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The company is not required to prepare consolidated accounts due to exemption under Companies Act 2006 section 383 applicable to small groups.
The following principal accounting policies have been applied:
As at the year end, the balance sheet shows that the company has liabilities in excess of assets as a result of losses made to date. The directors are of the opinion that this is temporary and therefore the accounts have been prepared on a going concern basis. The shareholders have confirmed that they will provide support to the company for the foreseeable future and meet the excess liabilities if the company is unable to do so.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is pound sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
4
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EARL OF SANDWICH (PARIS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Investments held as fixed assets are shown at cost less provision for diminution in value.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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5
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EARL OF SANDWICH (PARIS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Investments in subsidiary companies
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At 1 January 2023 (as restated)
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Foreign exchange movement
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At 1 January 2023 (as restated)
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The following was a subsidiary undertaking of the company:
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Earl of Sandwich (Paris) SARL
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Catering services to the public
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Cash and cash equivalents
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6
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EARL OF SANDWICH (PARIS) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Creditors: amounts falling due within one year
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Allotted, called up and fully paid
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100 Ordinary shares of £1.00 each
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Loans to associates shown within fixed asset investments and other creditors have been restated by £604,030 in the comparative year. This is due to the investment and its corresponding creditor not being revalued in the prior years. This adjustment has not changed the balance in retained profits.
Due to the above adjustment, the provision on the fixed asset investment also needed to be adjusted by £512,551 with impairment increasing by the same in the profit and loss account in the prior year.
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