Houles UK Limited

(Registration number: 02100454)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	4,681	6,455
Current assets
Debtors	5	42,122	45,763
Cash at bank and in hand		14,532	16,999
		56,654	62,762
Creditors: Amounts falling due within one year	6	(1,198,165)	(1,010,749)
Net current liabilities		(1,141,511)	(947,987)
Net liabilities		(1,136,830)	(941,532)
Capital and reserves
Called up share capital	7	1,000	1,000
Retained earnings		(1,137,830)	(942,532)
Shareholders' deficit		(1,136,830)	(941,532)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been 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 Income Statement.

Approved and authorised by the Board on 6 May 2025 and signed on its behalf by:
 

......................................... Mr Philippe Houles Director

Houles UK 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.

The address of its registered office is:
Unit 207 Design Centre
Chelsea Harbour
Lots Road
LONDON
SW10 0XE

These financial statements were authorised for issue by the Board on 6 May 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.

The financial statements are presented in sterling (£) and are rounded to the nearest £1.

Going concern

Andre Houles et CIE S.A.S, the parent company, has committed to supporting the company for the foreseeable future. The financial statements therefore have been prepared on a going concern basis.

Houles UK Limited

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

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 14 May 2025 was Mr Alexander Fyfe M.A.A.T., C.A., DChA., who signed for and on behalf of Morris & Young, Statutory Auditor.

.........................................

Revenue recognition

Revenue comprises of commissions received on sales generated fon behalf of the parent company, Andre Houles et CIE SAS.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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 UK.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & fittings	25% reducing balance
Office & computer equipment	33% reducing balance

Houles UK Limited

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

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank deposits.

Trade debtors

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

Trade creditors

Trade creditors 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 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Financial instruments

Classification
The company only have financial assets and liabilities of a kind that would qualify as basic financial instruments which are recognised at their transaction value and subsequently measured at their settlement value.
 

Houles UK Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

4	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	67,965	13,691	81,656
At 31 December 2024	67,965	13,691	81,656
Depreciation
At 1 January 2024	63,514	11,687	75,201
Charge for the year	1,113	661	1,774
At 31 December 2024	64,627	12,348	76,975
Carrying amount
At 31 December 2024	3,338	1,343	4,681
At 31 December 2023	4,451	2,004	6,455

5

Debtors

	2024 £	2023 £
Trade debtors	21,083	12,015
Prepayments	16,352	15,959
Other debtors	4,687	17,789
	42,122	45,763

Houles UK Limited

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

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		2,636	2,261
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	1,177,396	992,005
Taxation and social security		4,722	7,099
Accruals and deferred income		12,617	8,273
Other creditors		794	1,111
		1,198,165	1,010,749

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
500 Ordinary A Shares of £1 each	500	500	500	500
500 Ordinary B Shares of £1 each	500	500	500	500
	1,000	1,000	1,000	1,000

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The company has operating lease commitments in relation to leased premises.

The total amount of financial commitments not included in the balance sheet is £139,000 (2023 - £45,000).

Houles UK Limited

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

9	Related party transactions

Key management compensation

	2024 £	2023 £
Salaries and other short term employee benefits	74,352	80,133

Summary of transactions with parent

The company is a wholly owned subsidiary and is therefore exempt from disclosing transactions with its parent company.

10	Parent and ultimate parent undertaking

The company's immediate parent is Andre Houles et CIE S.A.S, incorporated in France.

 The most senior parent entity producing publicly available financial statements is Andre Houles et CIE S.A.S. These financial statements are available upon request from 2 Chemin De La Coudrette, Noisy-sur-Ecole, 77123, France.

 The ultimate controlling party is the directors.