IRIS Accounts Production v24.3.2.46 10549028 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh105490282023-12-31105490282024-12-31105490282024-01-012024-12-31105490282022-12-31105490282023-01-012023-12-31105490282023-12-3110549028ns15:EnglandWales2024-01-012024-12-3110549028ns14:PoundSterling2024-01-012024-12-3110549028ns10:Director12024-01-012024-12-3110549028ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3110549028ns10:SmallEntities2024-01-012024-12-3110549028ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3110549028ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3110549028ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3110549028ns10:FullAccounts2024-01-012024-12-3110549028ns10:OrdinaryShareClass12024-01-012024-12-3110549028ns10:Director22024-01-012024-12-3110549028ns10:CompanySecretary12024-01-012024-12-3110549028ns10:RegisteredOffice2024-01-012024-12-3110549028ns5:CurrentFinancialInstruments2024-12-3110549028ns5:CurrentFinancialInstruments2023-12-3110549028ns5:ShareCapital2024-12-3110549028ns5:ShareCapital2023-12-3110549028ns5:RetainedEarningsAccumulatedLosses2024-12-3110549028ns5:RetainedEarningsAccumulatedLosses2023-12-3110549028ns5:ComputerEquipment2024-01-012024-12-3110549028ns5:PlantMachinery2023-12-3110549028ns5:PlantMachinery2024-12-3110549028ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3110549028ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3110549028ns10:OrdinaryShareClass12024-12-31
REGISTERED NUMBER: 10549028 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Frenchfounders Europe Ltd

Frenchfounders Europe Ltd (Registered number: 10549028)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Frenchfounders Europe Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: B A Buridant
V Deruelle





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: 11 Old Jewry
London
EC2R 8DU





REGISTERED NUMBER: 10549028 (England and Wales)






Frenchfounders Europe Ltd (Registered number: 10549028)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
CURRENT ASSETS
Debtors 5 18,243 11,492
Cash at bank 165 2,657
18,408 14,149
CREDITORS
Amounts falling due within one year 6 6,970 7,482
NET CURRENT ASSETS 11,438 6,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,438

6,667

CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Retained earnings 1,438 (3,333 )
SHAREHOLDERS' FUNDS 11,438 6,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Frenchfounders Europe Ltd (Registered number: 10549028)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by:





V Deruelle - Director


Frenchfounders Europe Ltd (Registered number: 10549028)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Frenchfounders Europe 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

All amounts are rounded to the nearest £.

Turnover
Turnover represents amounts receivable, under contracts for services, net of Value Added Tax. Turnover is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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 in the company's balance sheet 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 tax refunds due, loans from fellow group companies and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Frenchfounders Europe Ltd (Registered number: 10549028)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals and taxes due 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and 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.

Frenchfounders Europe Ltd (Registered number: 10549028)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 6,657
DEPRECIATION
At 1 January 2024
and 31 December 2024 6,657
NET BOOK VALUE
At 31 December 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 16,705 10,439
VAT 1,538 1,053
18,243 11,492

Frenchfounders Europe Ltd (Registered number: 10549028)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,548 3,838
Corporation Tax 2,365 779
Social security and other taxes - (1,044 )
Other creditors 257 258
Accruals 2,800 3,651
6,970 7,482

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The immediate parent company is FrenchFounders Inc, a company registered in the United States of America.

FrenchFounders Inc prepares group financial statements and copies can be obtained from The Foundery, 27 West, 20th Street, Suite 800, New York, NY 10011.