Le Gavroche Limited - Period Ending 2018-06-30
Le Gavroche Limited - Period Ending 2018-06-30
Registration number:
Le Gavroche Limited
for the Year Ended 30 June 2018
[FRS 102 SECTION1A]
[FILLETED FOR FILING PURPOSES]
East Wing, South Hill
Paddockhurst Road
Turners Hill
West Sussex
RH10 4SF
Le Gavroche Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Le Gavroche Limited
Company Information
Directors |
Mr A H Roux Lord C Sharman Mr S E Giraldin Mr M A Roux |
Registered office |
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Accountants |
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Page 1 |
Le Gavroche Limited
(Registration number: 01825199)
Balance Sheet as at 30 June 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
30,000 |
30,000 |
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Current assets |
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Stocks |
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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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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Le Gavroche Limited
(Registration number: 01825199)
Balance Sheet as at 30 June 2018
Approved and authorised by the
.........................................
Director
Page 3 |
Le Gavroche Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
UK
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sales of good and provision of services, net of discounts and sales taxes, in the ordinary course of the Company’s activities. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Foreign currency transactions and balances
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 tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed by the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
Page 4 |
Le Gavroche Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
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, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
Between 10 and 25% |
Motor vehicles |
25% |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted 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.
Page 5 |
Le Gavroche Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 July 2017 |
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At 30 June 2018 |
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Depreciation |
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At 1 July 2017 |
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Charge for the year |
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At 30 June 2018 |
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Carrying amount |
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At 30 June 2018 |
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At 30 June 2017 |
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Stocks |
2018 |
2017 |
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Other inventories |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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- |
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Page 6 |
Le Gavroche Limited
Notes to the Financial Statements for the Year Ended 30 June 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Taxation and social security cost |
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Bank loans and overdrafts |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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945 |
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945 |
Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Bank overdrafts |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of guarantees not included in the balance sheet is £1,250,000 (2017 - £Nil). The Company has agreed to guarantee bank borrowings made by a company of which Mr M A Roux is a director. The guarantee is secured by legal charges over certain stock and life insurance policies.
Related party transactions |
During the year the Company paid £30,000 (£30,000 2017) to a management consultancy business owned by Mr Giraldin, a director, for the provision of consultancy services.
Page 7 |