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REGISTERED NUMBER: 09425031 (England and Wales)









Financial Statements

for the Year Ended 29 February 2024

for

AMI PARIS UK LTD

AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 3

Notes to the Financial Statements 4


AMI PARIS UK LTD

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: A Mattiussi





REGISTERED OFFICE: 5th Floor Halo
Counterslip
Bristol
BS1 6AJ





REGISTERED NUMBER: 09425031 (England and Wales)





AUDITORS: Haines Watts (Western) Limited
Chartered Accountants and Statutory Auditors
Bath House
6-8 Bath Street
Bristol
BS1 6HL

AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Balance Sheet
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,687,099 293,928

CURRENT ASSETS
Stocks 681,734 146,182
Debtors 5 375,871 316,633
Cash at bank and in hand 119,936 313,578
1,177,541 776,393
CREDITORS
Amounts falling due within one year 6 (2,917,698 ) (2,201,638 )
NET CURRENT LIABILITIES (1,740,157 ) (1,425,245 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(53,058

)

(1,131,317

)

PROVISIONS FOR LIABILITIES (134,716 ) -
NET LIABILITIES (187,774 ) (1,131,317 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (187,775 ) (1,131,318 )
SHAREHOLDERS' FUNDS (187,774 ) (1,131,317 )

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 and authorised for issue by the director and authorised for issue on 22 November 2024 and were signed by:





A Mattiussi - Director


AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Statement of Changes in Equity
FOR THE YEAR ENDED 29 FEBRUARY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2022 1 (1,316,499 ) (1,316,498 )

Changes in equity
Profit for the year - 185,181 185,181
Total comprehensive income - 185,181 185,181
Balance at 28 February 2023 1 (1,131,318 ) (1,131,317 )

Changes in equity
Profit for the year - 943,543 943,543
Total comprehensive income - 943,543 943,543
Balance at 29 February 2024 1 (187,775 ) (187,774 )

AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. COMPANY INFORMATION

Ami Paris UK Ltd 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.

The company's principal activities and nature of its operations was that of store retailing.

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" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making his assessment. Based on these assessments, the Director has concluded that the Company can continue to adopt the going concern basis in preparing the annual report and accounts.

This assumes that the company will have sufficient financial resources to continue trading. As at 29 February 2024 the company has net current liabilities of £1,740,157, and an overall net liability position of £187,774.

Within this position is a loan from AMI Paris SAS, parent company of £2,515,818.

AMI Paris SAS has indicated that they will provide continued support to the company for at least a period of twelve months from the date these accounts were approved, and the loan to the company will not be called for repayment until the company is in a financial position to do so.

On this basis, The Director considers the going concern basis of preparation of the financial statements to be appropriate.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year 29 February 2024 and derives from the provision of goods falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold property - 10% on reducing balance
Improvements to property - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Provision is made against the carrying value of stocks where the net realisable value is less than the cost of stock held.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

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 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 trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

Taxation
Current tax represents the amount of tax payable or receivable in respect of taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Foreign exchange
Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translating differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Short Improvements Fixtures
leasehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 29,259 540,697 37,220 2,710 609,886
Additions 22,928 1,455,389 10,292 1,105 1,489,714
At 29 February 2024 52,187 1,996,086 47,512 3,815 2,099,600
DEPRECIATION
At 1 March 2023 15,498 281,219 16,648 2,593 315,958
Charge for year 2,905 87,405 5,930 303 96,543
At 29 February 2024 18,403 368,624 22,578 2,896 412,501
NET BOOK VALUE
At 29 February 2024 33,784 1,627,462 24,934 919 1,687,099
At 28 February 2023 13,761 259,478 20,572 117 293,928

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,561 30,956
Other debtors 239,615 194,885
Prepayments and accrued income 116,695 90,792
375,871 316,633

AMI PARIS UK LTD (REGISTERED NUMBER: 09425031)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 95,837 139,640
Amounts owed to group undertakings 2,515,818 1,877,890
VAT 146,057 105,621
Other creditors 2,684 11,830
Accruals and deferred income 157,302 66,657
2,917,698 2,201,638

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 959,292 230,000
Between one and five years 3,210,000 230,000
In more than five years 3,753,750 230,000
7,923,042 690,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Bracher BSc FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts (Western) Limited

9. RELATED PARTY DISCLOSURES

During the year the company entered into transactions with AMI Paris SAS the company's parent entity. These transactions were all on an arm's length basis under normal commercial conditions. At the year end date the amount owed to AMI Paris SAS is £2,515,818 (2023 - £1,877,890). There is no interest accruing on this loan.

10. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of AMI Paris SAS, a company incorporated in France.