PETIT BATEAU UK LIMITED

Company Registration Number:
03274758 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

PETIT BATEAU UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

PETIT BATEAU UK LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activity of the Company continues to be the retail and wholesale sales of babies’, childrens’ and adults’ clothing.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Petit Bateau S.A.S
Jean-Christophe Selles


Secretary Jean-Christophe Selles

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 August 2024

And signed on behalf of the board by:
Name: Jean-Christophe Selles
Status: Secretary

PETIT BATEAU UK LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 5,900,000 6,565,000
Cost of sales: ( 1,255,000 ) ( 1,546,000 )
Gross profit(or loss): 4,645,000 5,019,000
Administrative expenses: ( 4,497,000 ) ( 4,801,000 )
Other operating income: 32,000
Operating profit(or loss): 148,000 250,000
Interest receivable and similar income: 10,000 5,000
Interest payable and similar charges: ( 9,000 ) ( 1,000 )
Profit(or loss) before tax: 149,000 254,000
Tax: ( 9,000 ) ( 59,000 )
Profit(or loss) for the financial year: 140,000 195,000

PETIT BATEAU UK LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 7,000 12,000
Total fixed assets: 7,000 12,000
Current assets
Stocks: 4 378,000 292,000
Debtors: 5 564,000 737,000
Cash at bank and in hand: 827,000 970,000
Total current assets: 1,769,000 1,999,000
Creditors: amounts falling due within one year: 6 ( 1,228,000 ) ( 1,399,000 )
Net current assets (liabilities): 541,000 600,000
Total assets less current liabilities: 548,000 612,000
Creditors: amounts falling due after more than one year: 7 ( 6,000 ) ( 10,000 )
Total net assets (liabilities): 542,000 602,000
Capital and reserves
Called up share capital: 40,000 40,000
Profit and loss account: 502,000 562,000
Total Shareholders' funds: 542,000 602,000

The notes form part of these financial statements

PETIT BATEAU UK LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 August 2024
and signed on behalf of the board by:

Name: Jean-Christophe Selles
Status: Director

The notes form part of these financial statements

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods through retail stores, e-commerce and wholesale customers is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of thetransaction can be measured reliably. Retail turnover, which is stated net of returns, is recognised on a cash basis. Interest receivable Interest income is recognised in the Income Statement using the effective interest rate.

    Tangible fixed assets depreciation policy

    Fixed assets are stated at cost less accumulated depreciation and accumulated impairment. Depreciation is calculated to write down the cost of these assets to their estimated residual values on a straight-line basis over the period of their estimated useful economic lives: Leasehold improvements, fixtures and fittings - Over 7 years Office equipment - Over 3 years Software - Over 1 year The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

    Other accounting policies

    Accounting policies Statement of compliance Petit Bateau UK Limited is a private company limited by shares incorporated and domiciled in England and Wales at the following address 73 Ledbury Road Londo W11 2AG The companys financial statements have been prepared in compliance with United Kingdom Generally Accepted Accounting Practice including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 and the Companies Act 2006 as it applies to the financial statements for the year ended 31 December 2023 and 31 December 2022 Basis of preparation The financial statements were authorised for issue by the Board of Directors on 29 August 2024 The financial statements have been prepared in accordance with applicable accounting standards The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest 000 Exemptions for qualifying entities under FRS 102 FRS 102 allows a qualifying entity certain disclosure exemptions subject to certain conditions which have been complied with The company is a wholly owned subsidiary of Rocher Participations the companys ultimate parent undertaking Copies of the consolidated financial statements of Rocher Participation are available from Yves Rocher La Croix Des Archers 56201 La Gacilly France The company is included in the consolidated financial statements of Rocher Participation which are publicly available and consequently has taken the advantage of the following exemptions from preparing a reconciliation of the number of shares outstanding at the beginning and the end of the year as required by FRS 102 para 412aiv from preparing financial statement of cash flows required under Section 7 of FRS 102 and para 317d on the basis that it is a qualifying entity and its ultimate parent company Rocher Participations includes the Companys cash flows in its own consolidated financial statements from the financial instrument disclosures required under FRS 102 paras 1139 1148A and 1226 1929 as the information is provided in the consolidated statement disclosure and from disclosing the companys key management personnel compensation as required by FRS 102 para 337 Going Concern The company made a profit after taxation in year ended 31 December 2023 of 140k 2022 195k with net assets of 542k at 31 December 2023 2022 602k Management have prepared forecasts to 31 August 2025 which take into consideration the current economic conditions and global events The company will continue to take all necessary mitigating measures to be able to continue in operation in the future The Company closed the Clapham retail store in August 2022 which reduced costs and improved margins Future retail operations include the closure of one boutique in the beginning of 2024 and the opening of multiple others in the next 5 years Further the Directors have obtained a letter of support from their ultimate parent Laboratoires de Biologie Vegetale Yves Rocher confirming that they are able and willing to provide support to the Company for a period to 31 August 2025 A letter of support is required by the Company as they require access to their parent companys supply chain activities and financing support as required The directors have performed the relevant inquires and have satisfied themselves that the ultimate parent company is in a position to provide this support as required on the basis of the group forecasts to 31 August 2025 which takes into consideration any potential uncertainties particularly around the costs of inflation and its impact on revenue growth together with the current economic outlook Accordingly they continue to adopt the going concern basis in preparing the financial statements Turnover Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance Revenue is measured at the fair value of the consideration received excluding discounts rebates VAT and other sales taxes or duty The following criteria must also be met before revenue is recognised Sale of goods Revenue from the sale of goods through retail stores ecommerce and wholesale customers is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer the amount of revenue can be measured reliably it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of thetransaction can be measured reliably Retail turnover which is stated net of returns is recognised on a cash basis Interest receivable Interest income is recognised in the Income Statement using the effective interest rate There is a Treasury Agreement concluded between Laboratoires de Biologie Vegetale Yves Rocher Master Entity and Petit Bateau UK LimitedThe Company may recycle cash surpluses through loans to the Master Entity or finance its cash requirements by loans from the Master Entity Petit Bateau UK Limited is loaning to LBV A Group Rocher company and receives interest on this loan at a rate of 59 2022 367 Exceptional costs Exceptional costs are transactions that fall within the ordinary activities of the company but are presented separately due to their size and incidence In 2021 an onerous contract provision of 32k was put in place for the closing of the clapham boutique in August 2022 This was done in the case of any unexpected closing costs regarding the rent contract This provision was reversed once Clapham closed as there were no additional costs Intangible tangible fixed assets and depreciation Fixed assets are stated at cost less accumulated depreciation and accumulated impairment Depreciation is calculated to write down the cost of these assets to their estimated residual values on a straightline basis over the period of their estimated useful economic lives Leasehold improvements fixtures and fittings Over 7 years Office equipment Over 3 years Software Over 1 year The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable Lease premiums The lease premiums are recorded within prepayments and accrued income and are amortised over the duration of the life of the lease Stocks Trading stocks are stated at the lower of cost and net realisable value on an itembyitem basis taking into account any provision for obsolescence Cost is determined on a FIFO firstin firstout basis Cash and cash equivalents Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and shortterm deposits with an original maturity date of three months or less Called Up Share Capital Ordinary shares are classified as equity Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction net of tax from the proceeds Distribution to Equity Holders Dividends and other distributions to Companys shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the Companys shareholders These amounts are recognised in the Statement of Changes in Equity Shortterm debtors and creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price Any losses arising from impairment are recognised in the income statement in administrative expenses Interest bearing loans and borrowings All interestbearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable including interest After initial recognition they are measured at amortised cost using the effective interest rate method less impairment The effective interest rate amortisation is included in finance income in the income statement Taxation Current tax is provided at amounts expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date Timing differences are differences between the companys taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements Deferred tax is measured at the tax rates that are expected to apply in the periods in which the timing differences are expected to reverse based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date Deferred tax is measured on a non discounted basis Translation of foreign currency accounts Transactions denominated in foreign currency are recorded at the rate ruling at the date of the transaction Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date All differences are taken to the profit and loss account Leases Rentals under operating leases are charged on a straightline basis over the lease term Leases are considered to be onerous when the expected benefits of the leased property are less than the unavoidable costs of fulfilling the conditions of the lease When a lease is identified as being onerous it is provided for as a Provision and recorded as the lower of the cost of fulfilling the lease contract and the penalty to exit the lease before the end of the lease term Pension costs The amount charged to the profit and loss account in respect of pension costs for defined contribution pension schemes is the contributions payable in the year Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet Judgements and key sources of estimation uncertainty The preparation of financial statements requires management to make judgements estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year However the nature of estimation means that actual outcomes could differ from those estimates There were no judgements which have had a significant effect on amounts reported in the current or prior year The following are the companys key sources of estimation uncertainty Deferred taxation Management estimation is required to determine the amount of deferred tax assets that can be recognised based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies Financial instruments The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable loans from banks and Debt instruments other than those wholly repayable or receivable within one year including loans and other accounts receivable and payable are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method Debt instruments that are payable or receivable within one year typically trade payables or receivables are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment If objective evidence of impairment is found an impairment loss is recognised in the profit and loss account Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 36 33

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 484,000 204,000 51,000 739,000
Additions 3,000 3,000
Disposals
Revaluations
Transfers
At 31 December 2023 484,000 207,000 51,000 742,000
Depreciation
At 1 January 2023 478,000 202,000 47,000 727,000
Charge for year 5,000 2,000 1,000 8,000
On disposals
Other adjustments
At 31 December 2023 483,000 204,000 48,000 735,000
Net book value
At 31 December 2023 1,000 3,000 3,000 7,000
At 31 December 2022 6,000 2,000 4,000 12,000

The 'office equipment' here listed includes the amounts listed for 'software'- to find details, see the PDF of the accounts added

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Stocks

2023 2022
£ £
Stocks 378,000 292,000
Total 378,000 292,000

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 69,000 109,000
Prepayments and accrued income 256,000 332,000
Other debtors 239,000 296,000
Total 564,000 737,000
Debtors due after more than one year: 21,000 156,000

'other debtors' includes Corporation tax and Amounts due from group undertakings

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 135,000 185,000
Taxation and social security 2,000 1,000
Accruals and deferred income 296,000 345,000
Other creditors 795,000 868,000
Total 1,228,000 1,399,000

'Other creditors' includes Amounts due to group undertakings and Amounts due to group undertakings (loan)

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 6,000 10,000
Total 6,000 10,000

Deferred taxation (see note 12)

PETIT BATEAU UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Financial Commitments

Future annual minimum rentals under non-cancellable operating leases were as follows: 2023 Amounts payable: Within one year 401 Between two and five years 1032 1,433 2022 Amounts payable: Within one year 618 Between two and five years 689 1,307