Company Registration No. 09677286 (England and Wales)
LISE CHARMEL UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
LISE CHARMEL UK LIMITED
COMPANY INFORMATION
Director
O Piquet
Company number
09677286
Registered office
25 Sackville Street
London
England
W1S 3AX
Auditor
Moore Northern Home Counties Limited
Nicholas House
River Front
Enfield
Middlesex
EN1 3FG
LISE CHARMEL UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LISE CHARMEL UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
235,114
189,959
Cash at bank and in hand
76,788
27,746
311,902
217,705
Creditors: amounts falling due within one year
4
(437,515)
(309,406)
Net current liabilities
(125,613)
(91,701)
Capital and reserves
Called up share capital
5
1,000
1,000
Profit and loss reserves
(126,613)
(92,701)
Total equity
(125,613)
(91,701)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 December 2020
O Piquet
Director
Company Registration No. 09677286
LISE CHARMEL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Lise Charmel UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 25 Sackville Street, London, England, W1S 3AX.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The shareholders of the parent company will continue to support the company for a period of no less than one year from the date of approval of these financial statements. On this basis, the director considers it appropriate to prepare these financial statements on the going concern basis.
The director has considered the impact of the Covid-19 pandemic on the business and does not believe there to be any change in the going concern status of the company.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand.
1.5
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 balance sheet 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.
LISE CHARMEL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
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.
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 creditors and loans from the parent undertaking, 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
LISE CHARMEL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
230,947
188,275
Other debtors
4,167
1,684
235,114
189,959
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
3,876
843
Amounts owed to group undertakings
325,492
212,631
Taxation and social security
42,142
38,372
Other creditors
66,005
57,560
437,515
309,406
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
LISE CHARMEL UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Francis Corbishley.
The auditor was Moore Northern Home Counties Limited.
7
Related party disclosure
The company has taken advantage of the exemptions conferred by FRS 102 from the requirement to make disclosures concerning related party transactions and balances with wholly owned subsidiaries as consolidated financial statements are prepared by the parent company.