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Registration number: 00322528

Chambre De Commerce Francaise De Grande-Bretagne Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

Company Information

Directors

Peter Rafael Alfandary

Kelly Jean Becker

Elizabeth Angles D'Auriac

Aneta Jajkowska

Emmanuelle Eva Yolaine Bury Lucas

Olivier Charles Henri Morel

Olivier Nicolay

Oriel Petry

Nicolas Louis Emile Ribollet

Simone Rossi

Jerome Salemi

Geoffrey Christopher Lloyd Skingsley

Arnaud Paul Alain Vaissie

Fabienne Paule Viala

Registered office

Becket House
1 Lambeth Palace Road
London
SE1 7EU

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

(Registration number: 00322528)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

6

2,147

4,293

Tangible assets

7

13,969

14,465

 

16,116

18,758

Current assets

 

Debtors

9

740,875

721,296

Cash at bank and in hand

 

2,737,795

2,276,783

 

3,478,670

2,998,079

Creditors: Amounts falling due within one year

10

(2,362,386)

(1,926,706)

Net current assets

 

1,116,284

1,071,373

Net assets

 

1,132,400

1,090,131

Capital and reserves

 

Retained earnings

1,132,400

1,090,131

Shareholders' funds

 

1,132,400

1,090,131

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 28 April 2025 and signed on its behalf by:
 

.........................................
Emmanuelle Eva Yolaine Bury Lucas
Director

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
Becket House
1 Lambeth Palace Road
London
SE1 7EU
England

Principal activity

The principal activity of the Company is that of promoting Franco-British trade.

These financial statements were authorised for issue by the Board on 28 April 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.

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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:

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

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

Asset class

Depreciation method and rate

Plant and machinery

4 years straight line

Leasehold improvements

4 years straight line

Intangible assets

Separately acquired software and licences are shown at historical cost.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

3 to 4 years straight line

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

Notes to the Financial Statements for the Year Ended 31 December 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

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion the significant judgements or key sources of estimation uncertainty is bad debt provision. The company makes an estimate of the recoverable value of its debtors and amounts due from members. When carrying out the assessment board consider factors including the aging profile of debtors, historic experience and performance of the debtors' business. As at the year end provision for doubtful or irrecoverable debts were £42,338 (2023:£55,930).

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

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

4

Staff numbers and costs

The average number of persons employed by the Company (including directors) during the year, was 28 (2023 - 29).

5

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 28 April 2025 was Russell Joseph, who signed for and on behalf of Bourner Bullock.

6

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

20,203

20,203

At 31 December 2024

20,203

20,203

Amortisation

At 1 January 2024

15,910

15,910

Amortisation charge

2,146

2,146

At 31 December 2024

18,056

18,056

Carrying amount

At 31 December 2024

2,147

2,147

At 31 December 2023

4,293

4,293

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

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

7

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

4,048

65,540

69,588

Additions

-

7,636

7,636

At 31 December 2024

4,048

73,176

77,224

Depreciation

At 1 January 2024

2,631

52,492

55,123

Charge for the year

810

7,322

8,132

At 31 December 2024

3,441

59,814

63,255

Carrying amount

At 31 December 2024

607

13,362

13,969

At 31 December 2023

1,417

13,048

14,465

8

Fixed asset investments

The Chamber's investments at the Balance Sheet date in the share capital of companies include the following:

FrenchTech London Ltd is a membership organisation which is limited by guarantee, the company is registered in England and Wales. The object of the organisation is to coordinate activities relating to the French technology sector in London. The Chamber is a founding member and guarantor to FrenchTech London Ltd. The maximum liability of the Chamber is £10.

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

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

9

Debtors

2024
£

2023
£

Trade debtors

676,823

665,968

Prepayments

51,832

50,107

Other debtors

12,220

5,221

740,875

721,296

10

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,152

26,172

Taxation and social security

206,969

200,688

Accruals and deferred income

887,952

826,684

Other creditors

1,256,313

873,162

2,362,386

1,926,706

Other creditors include deposits and other amounts held on behalf of members.

11

Related party transactions

Some Members of the Board make use of the services offered by the Chamber, via member companies. The services utilised are principally advertising in the Chamber's publications and sponsoring Chamber events. All transactions are conducted on a commercial basis.

During the year, the Chamber used the legal services and rented an office from companies which have Directors that are also members of the Board of Directors of the French Chamber. All transactions are conducted on a commercial basis.

 

Chambre De Commerce Francaise De Grande-Bretagne Limited

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

12

Company limited by guarantee

The company is limited by guarantee and does not have share capital.

13

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

65,424

65,424

Later than one year and not later than five years

49,068

114,492

114,492

179,916