Company registration number 04497269 (England and Wales)
CHANTECAILLE (UK) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CHANTECAILLE (UK) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CHANTECAILLE (UK) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
326,868
132,371
Current assets
Debtors
5
1,970,993
1,058,717
Cash at bank and in hand
2,342,519
141,129
4,313,512
1,199,846
Creditors: amounts falling due within one year
6
(3,265,380)
(218,891)
Net current assets
1,048,132
980,955
Total assets less current liabilities
1,375,000
1,113,326
Creditors: amounts falling due after more than one year
7
(1,432)
Provisions for liabilities
8
(81,321)
(32,515)
Net assets
1,293,679
1,079,379
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,293,678
1,079,378
Total equity
1,293,679
1,079,379
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 4 February 2025 and are signed on its behalf by:
Darren Irvine
Director
Company registration number 04497269 (England and Wales)
CHANTECAILLE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Chantecaille (UK) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7th Floor 262-267 High Holborn, London, WC1V 7EY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Lifetime of the lease
Office equipment
25% on reducing balance
Counter builds
Lifetime of counter
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
CHANTECAILLE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
34
29
CHANTECAILLE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Land and buildings
Office equipment
Counter builds
Total
£
£
£
£
Cost
At 1 January 2023
165,446
111,059
98,510
375,015
Additions
7,757
324,797
332,554
Disposals
(119,134)
(119,134)
At 31 December 2023
46,312
118,816
423,307
588,435
Depreciation and impairment
At 1 January 2023
154,509
83,281
4,854
242,644
Depreciation charged in the year
9,350
27,404
101,303
138,057
Eliminated in respect of disposals
(119,134)
(119,134)
At 31 December 2023
44,725
110,685
106,157
261,567
Carrying amount
At 31 December 2023
1,587
8,131
317,150
326,868
At 31 December 2022
10,937
27,778
93,656
132,371
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,282,517
55,019
Corporation tax recoverable
80,949
18,372
Amounts owed by group undertakings
539,977
890,704
Other debtors
28,500
48,659
Prepayments and accrued income
39,050
45,963
1,970,993
1,058,717
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
43,947
5,113
Amounts owed to group undertakings
2,714,546
Taxation and social security
201,154
36,825
Other creditors
305,733
176,953
3,265,380
218,891
CHANTECAILLE (UK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,432
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
81,321
32,515
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report was unqualified.
Senior Statutory Auditor:
David Manning FCA
Statutory Auditor:
Summers Morgan
Date of audit report:
4 February 2025
10
Operating lease commitments
Lessee
Operating lease payments represent rent payable under a non-cancellable operating lease which expires on 7th March 2024.
A lease incentive of £1,432 (2022: £9,348) is recognised on the balance sheet, all of which is included within current liabilities.
At the balance sheet date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
19,260
112,178
11
Parent company
The immediate parent company of Chantecaille UK Ltd is Pangolin Holdings Inc. and its registered office is 1013 Centre Road, Suite 4035, Wilmington, DE 19805, USA.
The ultimate controlling party is Beiersdorf AG and its registered office is Unastrasse 48, Hamburg, Germany.