COMPANY REGISTRATION NUMBER:
5058747
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
|
31 Dec 24 |
30 Jun 24 |
|
Note |
£ |
£ |
£ |
|
|
|
|
Current assets
|
Stocks |
55,957 |
|
56,810 |
|
Debtors |
6 |
163,005 |
|
75,480 |
|
Cash at bank and in hand |
24,932 |
|
68,821 |
|
-------- |
|
-------- |
|
243,894 |
|
201,111 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
215,344 |
|
139,324 |
|
-------- |
|
-------- |
|
Net current assets |
|
28,550 |
61,787 |
|
|
------- |
------- |
|
Total assets less current liabilities |
|
28,550 |
61,787 |
|
|
------- |
------- |
|
Net assets |
|
28,550 |
61,787 |
|
|
------- |
------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
200 |
200 |
|
Profit and loss account |
|
28,350 |
61,587 |
|
|
------- |
------- |
|
Shareholders funds |
|
28,550 |
61,787 |
|
|
------- |
------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
3 April 2025
, and are signed on behalf of the board by:
Company registration number:
5058747
|
Notes to the Financial Statements |
|
Period from 1st July 2024 to 31st December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Going concern
The financial statements have been prepared on the going concern basis by the directors. The company had a loss for the period of £33,237 and at 31st December 2024 owed £126,956 to its holding company. It is dependent on its parent company not seeking repayment of this balance and providing ongoing support as needed to continue as a going concern. Whilst not being legally enforceable, the parent company has confirmed that it has sufficient resources and will continue to support the company as necessary for at least the next 18 months. As a result, the directors consider it appropriate to treat the company as a going concern.
(c)
Revenue recognition
Turnover is measured at the fair value of the consideration receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods. Revenue from services rendered is recognised by reference to the stage of completion of the transaction at the balance sheet date.
(d)
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e)
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(f)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
(h)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(i)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(j)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
3
(2024:
3
).
5.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 1st July 2024 and 31st December 2024 |
|
1,377 |
|
------ |
------ |
|
Depreciation |
|
|
|
At 1st July 2024 and 31st December 2024 |
|
1,377 |
|
------ |
------ |
|
Carrying amount |
|
|
|
At 31st December 2024 |
– |
– |
|
------ |
------ |
|
At 30th June 2024 |
– |
– |
|
------ |
------ |
|
|
|
6.
Debtors
|
31 Dec 24 |
30 Jun 24 |
|
£ |
£ |
|
Trade debtors |
157,883 |
64,705 |
|
Other debtors |
5,122 |
10,775 |
|
-------- |
------- |
|
163,005 |
75,480 |
|
-------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
31 Dec 24 |
30 Jun 24 |
|
£ |
£ |
|
Trade creditors |
44,830 |
12,722 |
|
Amounts owed to holding company |
126,956 |
99,565 |
|
Social security and other taxes |
9,701 |
2,526 |
|
Other creditors |
33,857 |
24,511 |
|
-------- |
-------- |
|
215,344 |
139,324 |
|
-------- |
-------- |
|
|
|
Amounts owed to holding company includes a loan of €35,000. The loan is unsecured and carries interest at 3.75% over the bank base interest rate of the United Kingdom.
8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
31 Dec 24 |
30 Jun 24 |
|
£ |
£ |
|
Not later than 1 year |
21,312 |
23,442 |
|
Later than 1 year and not later than 5 years |
– |
9,591 |
|
------- |
------- |
|
21,312 |
33,033 |
|
------- |
------- |
|
|
|
9.
Summary audit opinion
The auditor's report dated
4 April 2025
was
qualified
on the following basis:
We were not appointed as auditor of the company until shortly before 31st December 2024 and thus did not observe the counting of physical inventories at the 30th June 2024. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 30th June 2024, which were included in the balance sheet at 30th June 2024 at £56,810, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary. As a result we are unable to express an opinion on whether the financial statements give a true and fair view of the loss for the period. Our opinion on the state of affairs shown in the company's statements of financial position is unmodified in this regard.
The senior statutory auditor was
David Bartlett, FCA
, for and on behalf of
Daly, Hoggett & Co.
.
10.
Controlling party
With effect from 20th November 2024, the company's holding company is Dr Schutz GmbH, a company incorporated in Germany. The company's ultimate holding company from this date is Blanchon S.A., a company incorporated in France.