| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| La Boite A Encas Uk Ltd |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| La Boite A Encas Uk Ltd |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| La Boite A Encas Uk Ltd |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Certified Accountants and |
| Statutory Auditor |
| 9 Exchange Place |
| International Financial Services Centre |
| Dublin |
| Ireland |
| D01 X8H2 |
| BANKERS: |
| Canary Wharf, London, E14 4HD |
| & |
| Spendesk,51 Rue de Londres |
| Paris, France, 75008 |
| SOLICITORS: |
| 3 More London Riverside |
| London, SE1 2AQ |
| K&L Gates LLP |
| One New Change |
| London, EC4M 9AF |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| La Boite A Encas Uk Ltd is a |
| 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" and the Companies Act 2006. The financial statements have been prepared on a going concern basis and under the historical cost convention. |
| The functional currency and the presentation currency of the financial statements is the Pound Sterling (£). |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. |
| Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. |
| (a) Establishing useful economic lives for depreciation purposes of tangible fixed assets |
| Long-lived assets- consisting primarily of Plant and Machinery- comprise a significant portion of the total assets. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The directors regularly review the useful economic lives of these assets and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset useful lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful economic lives is included in the accounting policies. |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| Critical accounting judgements and key sources of estimation uncertainty - continued |
| (b) Inventory provisioning |
| The company is involved in the food sector. It is necessary to consider the recoverability of the cost of the inventory and the associated provision required. When calculating the inventory provision, management considers the stage of completion, the estimated realisable value and the estimated costs to completion. The level of provision required is reviewed on an on-going basis. |
| (c) Provision for doubtful debts |
| The company makes an estimate of the recoverable value of trade and other debtors. The company uses estimates based on historical experience in determining the level of debts, which the company believes, will not be collected. These estimates include such factors as the current credit rating of the debtor, the ageing profile of debtors and historical experience. Any significant reduction in the level of customers that default on payments or other significant improvements that resulted in a reduction in the level of bad debt provision would have a positive impact on the operating results. The level of provision required is reviewed on an on-going basis. |
| Turnover |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), 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 the transaction can be measured reliably. |
| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and Machinery - 20% on cost |
| Office equipment - 20% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 debtors, loans from fellow group companies, cash 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. |
| 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 loans from fellow group companies 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. |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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. |
| Ordinary share capital |
| The ordinary share capital of the company is presented as equity. |
| Trade and other creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, including transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Trade and other debtors |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, including of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Accrued income and prepayments |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Trade creditors | ( |
) | ( |
) |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 38,962 | - |
| Other creditors |
| Accruals |
| Accruals and deferred income |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
| Amounts owed to group companies are unsecured interest free and repayable on demand. |
| Trade creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms. |
| The term of the accruals are based on the underlying contracts. |
| Taxes including social insurance are payable at various dates over the coming months in accordance with the applicable statutory provisions. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Amounts owed to group undertakings |
| Accruals |
| The accruals balance includes £54,840 of amount owed to group companies for inter company recharges. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | £1 | 5,000 | 5,000 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| La Boite A Encas Uk Ltd (Registered number: 13746097) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 11. | GOING CONCERN |
| The Financial Statements have been prepared on the going concern basis which assumes the entity will continue in operational existence for the foreseeable future and for at least a period of 12 months from the date of approval of the Financial Statements. |
| The company has recorded a loss of £2,609,250 and had net liabilities of £6,223,754 for the year ending 31 December 2024.. |
| At the date of approval of the financial statements the board of directors have received confirmation from the parent company of its intention to provide continued financial support to the company in order to ensure that the company remains in operational existence for the foreseeable future which may require continued cash funding support of its parent company, including the non-call of the finance and trading balances of £3,741,676 for at least a period of 12 months from the date of approval of the financial statements. |
| Given the support of the parent company the Directors are satisfied that the company has the necessary resources to continue trading for the foreseeable future and accordingly believe that it is appropriate for the Financial Statements to be prepared on a going concern basis. |
| 12. | CAPITAL COMMITMENTS |
| The company had no material capital commitments at the financial year ended 31 December 2024 |
| 13. | RELATED PARTY DISCLOSURES |
| The company has availed of the exemption under FRS102 section 1A in relation to the disclosure of transaction with group companies. |
| 14. | POST BALANCE SHEET EVENTS |
| There have been no significant events affecting the company since the financial year end. |
| 15. | ULTIMATE CONTROLLING PARTY |
| The immediate parent undertaking is La Boite a Encas SAS, a company incorporated in France, whose registered address is 8 Rue Jeanne D'asnieres, Clichy, France, 92110. |
| 16. | RECLASSIFICATION OF COMPARATIVE AMOUNTS |
| Certain comparative amounts have been regrouped and restated in order to present information on basis consistent with the current year. |
| 17. | APPROVAL OF FINANCIAL STATEMENTS |
| The board of directors approved these financial statements for issue on _____________. |