Registration number:
Chambre De Commerce Francaise De Grande-Bretagne Limited
for the Year Ended 31 December 2024
Chambre De Commerce Francaise De Grande-Bretagne Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
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 |
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Auditors |
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Chambre De Commerce Francaise De Grande-Bretagne Limited
(Registration number: 00322528)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Retained earnings |
1,132,400 |
1,090,131 |
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Shareholders' funds |
1,132,400 |
1,090,131 |
Approved and authorised by the
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Chambre De Commerce Francaise De Grande-Bretagne Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
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
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
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.
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
Staff numbers and costs |
The average number of persons employed by the Company (including directors) during the year, was
Summary audit opinion |
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Chambre De Commerce Francaise De Grande-Bretagne Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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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
Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other creditors include deposits and other amounts held on behalf of members.
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
Company limited by guarantee |
The company is limited by guarantee and does not have share capital.
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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