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Registration number: 6904241

La Chasse Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

La Chasse Limited

(Registration number: 6904241)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

578,291

271,364

Current assets

 

Stocks

5

250,748

218,153

Debtors

6

647,421

557,204

Cash at bank and in hand

 

64,655

209,312

 

962,824

984,669

Creditors: Amounts falling due within one year

7

(962,520)

(690,921)

Net current assets

 

304

293,748

Total assets less current liabilities

 

578,595

565,112

Creditors: Amounts falling due after more than one year

7

(285,049)

(178,535)

Provisions for liabilities

(22,161)

(24,835)

Net assets

 

271,385

361,742

Capital and reserves

 

Called up share capital

8

160

160

Retained earnings

271,225

361,582

Shareholders' funds

 

271,385

361,742

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 February 2025 and signed on its behalf by:
 

.........................................

C Cotton

Director

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Warehouse
St Martins Farm
Zeals
Wiltshire
BA12 6NZ

The principal place of business is:
The Warehouse
St Martins Farm
Zeals
Wiltshire
BA12 6NZ

These financial statements were authorised for issue by the Board on 5 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% straight line

Plant and machinery

20% reducing balance

Fixtures, fittings and equipment

12.5% straight line/20% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2023 - 42).

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

139,295

224,146

46,885

85,491

495,817

Additions

325,222

4,834

12,495

-

342,551

At 31 October 2024

464,517

228,980

59,380

85,491

838,368

Depreciation

At 1 November 2023

9,295

147,753

9,393

58,012

224,453

Charge for the year

1,998

16,415

11,716

5,495

35,624

At 31 October 2024

11,293

164,168

21,109

63,507

260,077

Carrying amount

At 31 October 2024

453,224

64,812

38,271

21,984

578,291

At 31 October 2023

130,000

76,393

37,492

27,479

271,364

Included within the net book value of land and buildings above is £415,275 (2023 - £130,000) in respect of freehold land and buildings and £37,950 (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

235,748

218,153

Other inventories

15,000

-

250,748

218,153

6

Debtors

Current

2024
£

2023
£

Trade debtors

590,232

489,131

Prepayments

43,572

50,148

Other debtors

13,617

17,925

 

647,421

557,204

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

145,447

84,305

Trade creditors

 

687,637

525,960

Taxation and social security

 

60,896

55,445

Accruals and deferred income

 

11,660

20,666

Other creditors

 

56,880

4,545

 

962,520

690,921

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £89,447 (2023 - £84,305). £57,600 of the bank loans are secured by government backed guarantees.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

285,049

178,535

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £98,383 (2023 - £178,535). £62,400 of the bank loans are secured by government backed guarantees.

 

La Chasse Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

50

50

50

50

Ordinary C shares of £1 each

10

10

10

10

160

160

160

160

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

78,000

150,000

Hire purchase contracts

20,383

28,535

Other borrowings

186,666

-

285,049

178,535

Current loans and borrowings

2024
£

2023
£

Bank borrowings

72,000

72,000

Hire purchase contracts

17,447

12,305

Other borrowings

56,000

-

145,447

84,305