Company registration number 06517338 (England and Wales)
VENTE-PRIVEE.COM LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
VENTE-PRIVEE.COM LIMITED
COMPANY INFORMATION
Director
J Granjon
Secretary
Z Turki
Company number
06517338
Registered office
5th Floor
Ashford Commercial Quarter
1 Dover Place
Ashford
Kent
United Kingdom
TN23 1FB
Auditor
Azets Audit Services
5th Floor
Ashford Commercial Quarter
1 Dover Place
Ashford
Kent
United Kingdom
TN23 1FB
Bankers
Société Générale
SG House
41 Tower Hill
London
United Kingdom
EC3N 4SG
VENTE-PRIVEE.COM LIMITED
CONTENTS
Page
Director's report
1 - 2
Independent auditor's report to the members of Vente-Privee.com Limited
3 - 5
Profit and loss account and other comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Statement of cash flows
9
Notes to the financial statements
10 - 18
VENTE-PRIVEE.COM LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The director presents his annual report and financial statements of Vente-Privee.com Limited ('the Company') for the year ended 31 December 2024.

Principal activities

The principal activity of the Company was the provision of services to the parent company.

 

The Company has taken advantage of the small companies exemption not to prepare a strategic report.

Results and dividends

The results for the year are set out on page 6.

Ordinary dividends were paid amounting to £4,240,000. The director does not recommend payment of a final dividend.

 

Political contributions

The Company made no political donations or incurred any disclosable political expenditure during the year (2023 - £Nil).

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

J Granjon
Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.

VENTE-PRIVEE.COM LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Statement of director's responsibilities

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law he has elected to prepare the financial statements in accordance with UK accounting standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is responsible for such internal control as he determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and has general responsibility for taking such steps as are reasonably open to him to safeguard the assets of the company and to prevent and detect fraud and other irregularities.

Statement of disclosure to auditor

The director who held office at the date of approval of this director's report confirms that, so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and the director has taken all the steps that he ought to have taken as a director to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

On behalf of the board
J Granjon
Director
30 June 2025
VENTE-PRIVEE.COM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VENTE-PRIVEE.COM LIMITED
- 3 -
Opinion

We have audited the financial statements of Vente-Privee.com Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

VENTE-PRIVEE.COM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VENTE-PRIVEE.COM LIMITED
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

VENTE-PRIVEE.COM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VENTE-PRIVEE.COM LIMITED
- 5 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christiaan de Lange
Senior Statutory Auditor
For and on behalf of Azets Audit Services
30 June 2025
Chartered Accountants
Statutory Auditor
5th Floor
Ashford Commercial Quarter
1 Dover Place
Ashford
Kent
United Kingdom
TN23 1FB
VENTE-PRIVEE.COM LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2024
2023
Notes
£
£
Turnover
3
1,232,893
1,844,877
Administrative expenses
(1,096,180)
(933,717)
Operating profit
4
136,713
911,160
Interest payable and similar expenses
6
(1,544)
(471)
Profit before taxation
135,169
910,689
Tax on profit
7
(31,134)
(220,082)
Profit for the financial year
104,035
690,607

The profit and loss account has been prepared on the basis that all operations are continuing operations.

VENTE-PRIVEE.COM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
9
141
311
Current assets
Debtors
10
231,393
4,370,667
Cash at bank and in hand
56,089
82,866
287,482
4,453,533
Creditors: amounts falling due within one year
11
(137,359)
(167,615)
Net current assets
150,123
4,285,918
Total assets less current liabilities
150,264
4,286,229
Capital and reserves
Called up share capital
13
40,000
40,000
Profit and loss reserves
110,264
4,246,229
Total equity
150,264
4,286,229
The financial statements were approved and signed by the director and authorised for issue on 30 June 2025
J Granjon
Director
Company Registration No. 06517338
VENTE-PRIVEE.COM LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
40,000
3,555,622
3,595,622
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
690,607
690,607
Balance at 31 December 2023
40,000
4,246,229
4,286,229
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
104,035
104,035
Dividends
8
-
(4,240,000)
(4,240,000)
Balance at 31 December 2024
40,000
110,264
150,264
The notes on pages 10 to 18 form an integral part of these financial statements.
VENTE-PRIVEE.COM LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
2024
2023
£
£
Cash flows from operating activities
Profit for the year
104,035
690,607
Decrease/(increase) in trade and other debtors
4,262,523
(641,522)
Increase/(decrease) in trade and other creditors
26,816
(31,320)
Depreciation and impairment of tangible fixed assets
170
170
Taxation charged
31,134
220,082
Interest paid
(1,544)
(471)
Income taxes paid
(211,455)
(210,997)
Net cash from operating activities
4,213,223
27,020
Financing activities
Dividends paid
(4,240,000)
-
0
Net (decrease)/increase in cash and cash equivalents
(26,777)
27,020
Cash and cash equivalents at beginning of year
82,866
55,846
Cash and cash equivalents at end of year
56,089
82,866
The notes on pages 10 to 18 form an integral part of these financial statements.
VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information

Vente-Privee.com Limited is a private company limited by shares incorporated in England and Wales, in the UK. The registered office is 5th Floor, Ashford Commercial Quarter, 1 Dover Place, Ashford, Kent, United Kingdom, TN23 1FB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention.

The Company's ultimate parent undertaking, Vente-Privee.com S.A., includes the Company in its consolidated financial statements. The consolidated financial statements of Vente-Privee.com S.A. are prepared in accordance with International Financial Reporting Standards as adopted by the EU and are available to the public.

 

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

1.2
Going concern

The financial statements have been prepared on the going concern basis which the director believes to be appropriate for the following reason. The Company is reliant for its working capital on funds provided to it by the Company’s ultimate parent undertaking, Vente-Privee.com S.A., which has provided the Company with an undertaking that it will, for at least 12 months from the date of the approval of these financial statements, continue to make available such funds as are needed by the Company. This should enable the Company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue although, at the date of approval of these financial statements, he has no reason to believe that it will not do so.true

1.3
Turnover

The turnover shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of value added tax, in respect of the sale of services to customers. Turnover is recognised when the services are performed.

Revenue is earned from commissions on services rendered to the parent company as well as recharges of costs incurred also to the parent company.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
1.5
Impairment of fixed assets

At each reporting period end date, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 statement of financial position 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 and 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest.

 

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

 

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
2
Judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover

An analysis of the Company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Commissions receivable and services
1,002,728
1,574,877
Recharge of costs to parent company
230,165
270,000
1,232,893
1,844,877
2024
2023
£
£
Turnover analysed by geographical market
France
1,232,893
1,844,877
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(18,134)
(4,155)
Fees payable to the company's auditor for the audit of the company's financial statements
8,950
7,500
Depreciation of owned tangible fixed assets
170
170
Operating lease charges
57,600
50,300
5
Employees

The average monthly number of persons (including directors) employed by the Company during the year was:

2024
2023
Number
Number
Administration and sales
12
10
VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Employees
(Continued)
- 15 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
694,474
564,629
Social security costs
68,388
66,044
Pension costs
12,277
15,214
775,139
645,887

The director was remunerated by the parent company for his services in the year and in the prior year. The value of services attributed to the Company was £5,000 (2023 - £5,000).

 

6
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
1,544
471
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
35,000
218,000
Adjustments in respect of prior periods
(3,866)
2,082
Total current tax
31,134
220,082

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
135,169
910,689
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
33,792
227,672
Tax effect of expenses that are not deductible in determining taxable profit
1,186
-
0
Adjustments in respect of prior years
(3,866)
(2,082)
Effect of change in corporation tax rate
-
0
(5,508)
Other differences
22
-
Taxation charge for the year
31,134
220,082
VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
8
Dividends
2024
2023
£
£
Interim paid
4,240,000
-
0
9
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2024 and 31 December 2024
9,997
Depreciation and impairment
At 1 January 2024
9,686
Depreciation charged in the year
170
At 31 December 2024
9,856
Carrying amount
At 31 December 2024
141
At 31 December 2023
311
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
123,249
-
0
Amounts owed by group undertakings
81,080
4,344,480
Other debtors
26,291
25,973
Prepayments
773
214
231,393
4,370,667
11
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,252
2,641
Corporation tax
-
0
57,072
Other taxation and social security
44,174
12,333
Accruals
86,933
95,569
137,359
167,615
VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
12
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
12,277
15,214

The Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £12,277 (2023 - £15,214). The amount outstanding at 31 December 2024 was £793 (2023 - £7,217).

13
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
40,000 Ordinary shares of £1 each
40,000
40,000
40,000
40,000
14
Operating lease commitments
Lessee

At the reporting end date the Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
19,200
19,253
15
Ultimate controlling party

The Company is a wholly owned subsidiary of Vente-Privee.com S.A., a company registered in France. The Company is controlled by Mr J A Granjon as a majority shareholder. The only consolidated group financial statements which include the results of the Company are those of the group headed by Vente-Privee.com S.A. Copies of its consolidated financial statements are publicly available. The address of the registered office of the parent company is 249 avenue du President Wilson, 93210 La Plaine Saint Denis, France.

 

VENTE-PRIVEE.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
16
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel, which is in respect of one employee (2023: one employee), is as follows.

2024
2023
£
£
Aggregate compensation
136,433
101,132

At the balance sheet date the Company was owed £80,702 (2023 - £4,337,303 ) by its parent undertaking, Vente-Privee.com S.A.

 

Turnover includes £1,232,893 (2023 - £1,844,877 ) invoiced to the parent undertaking, Vente-Privee.com S.A.

 

Admin costs include £151,686 (2023- £127,043) invoiced by its parent undertaking.

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