Chez Roux Limited - Period Ending 2017-03-31

Chez Roux Limited - Period Ending 2017-03-31


Chez Roux Limited06557675false2016-04-012017-03-312017-03-31The principal activity of the company is catering consultancy ans contract services.Digita Accounts Production Advanced 6.18.8247.0Softwaretrue065576752016-04-012017-03-31065576752017-03-3106557675core:RetainedEarningsAccumulatedLosses2017-03-3106557675core:ShareCapital2017-03-3106557675core:CurrentFinancialInstruments2017-03-3106557675core:CurrentFinancialInstrumentscore:WithinOneYear2017-03-3106557675core:Non-currentFinancialInstruments2017-03-3106557675core:Non-currentFinancialInstrumentscore:AfterOneYear2017-03-3106557675core:Goodwill2017-03-3106557675core:OtherPropertyPlantEquipment2017-03-3106557675bus:SmallEntities2016-04-012017-03-3106557675bus:AuditExemptWithAccountantsReport2016-04-012017-03-3106557675bus:FullAccounts2016-04-012017-03-3106557675bus:RegisteredOffice2016-04-012017-03-3106557675bus:CompanySecretaryDirector12016-04-012017-03-3106557675bus:Director12016-04-012017-03-3106557675bus:Director42016-04-012017-03-3106557675bus:OrdinaryShareClass12016-04-012017-03-3106557675bus:PrivateLimitedCompanyLtd2016-04-012017-03-3106557675bus:Agent12016-04-012017-03-3106557675core:Goodwill2016-04-012017-03-3106557675core:FurnitureFittings2016-04-012017-03-3106557675core:PlantMachinery2016-04-012017-03-3106557675core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl2016-04-012017-03-3106557675countries:AllCountries2016-04-012017-03-31065576752016-03-3106557675core:Goodwill2016-03-3106557675core:OtherPropertyPlantEquipment2016-03-31065576752015-04-012016-03-31065576752016-03-3106557675core:RetainedEarningsAccumulatedLosses2016-03-3106557675core:ShareCapital2016-03-3106557675core:CurrentFinancialInstruments2016-03-3106557675core:CurrentFinancialInstrumentscore:WithinOneYear2016-03-3106557675core:Non-currentFinancialInstruments2016-03-3106557675core:Non-currentFinancialInstrumentscore:AfterOneYear2016-03-3106557675bus:OrdinaryShareClass12015-04-012016-03-31iso4217:GBPxbrli:pure

Registration number: 06557675

Chez Roux Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

[FRS 102 SECTION1A]
[FILLETED FOR FILING PURPOSES]

Tremaines Ltd
84a Victoria Road
Horley
Surrey
RH6 7AB

 

Chez Roux Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 12

 

Chez Roux Limited

Company Information

Directors

Mrs Gisele Francois Roux

Mr Albert Henri Roux

Mr Michel Albert Roux

Registered office

539 Wandsworth Road
London
SW8 3JD

Accountants

Tremaines Ltd
84a Victoria Road
Horley
Surrey
RH6 7AB

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Chez Roux Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chez Roux Limited for the year ended 31 March 2017 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Chez Roux Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Chez Roux Limited and state those matters that we have agreed to state to the Board of Directors of Chez Roux Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chez Roux Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Chez Roux Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chez Roux Limited. You consider that Chez Roux Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Chez Roux Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Tremaines Ltd
84a Victoria Road
Horley
Surrey
RH6 7AB

16 August 2017

 

Chez Roux Limited

(Registration number: 06557675)
Balance Sheet as at 31 March 2017

Note

2017
£

2016
£

Fixed assets

 

Investment property

6

1,332,643

-

Current assets

 

Stocks

7

3,920

5,820

Debtors

8

183,513

169,607

Cash at bank and in hand

 

494,612

1,010,993

 

682,045

1,186,420

Creditors: Amounts falling due within one year

9

(529,454)

(526,624)

Net current assets

 

152,591

659,796

Total assets less current liabilities

 

1,485,234

659,796

Creditors: Amounts falling due after more than one year

9

(273,206)

-

Net assets

 

1,212,028

659,796

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,211,928

659,696

Total equity

 

1,212,028

659,796

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

 

Chez Roux Limited

(Registration number: 06557675)
Balance Sheet as at 31 March 2017

Approved and authorised by the Board on 16 August 2017 and signed on its behalf by:
 

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

Mr Michel Albert Roux

Director

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1

General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
539 Wandsworth Road
London
SW8 3JD
England

These financial statements were authorised for issue by the Board on 16 August 2017.

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 - '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.

Changes in accounting policy

New standards, interpretations and amendments effective

The following have been applied for the first time from 1 April 2016 and have had an effect on the financial statements:

Accounting Convention

These financial statements are the first financial statements that comply with FRS 102 Section 1A, The transition to FRS 102 Section 1A Small Entities may have resulted in a number of changes in accounting policies to those used previously. Where it has resulted in changes, the nature of these changes and their impact on opening equity and profit are explained in the notes.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Foreign currency transactions and balances

Transactions denominated in foreign currencies are initially recorded at the rate of exchange as at the date of the transaction. Year end balances are retranslated at the rate of exchange as at the year end with exchange differences included in arriving at profit before tax.

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.

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

20% straight line

Fixtures & fittings

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Asset class

Amortisation method and rate

Goodwill

amortised over its useful life of 5 years

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.

Financial instruments

Classification
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. Advanced financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in arriving at profit before tax. Financial instrument assets are included in other debtors and financial instrument liabilities are included in other creditors.
 
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2016 - 7).

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2016

779,487

779,487

At 31 March 2017

779,487

779,487

Amortisation

At 1 April 2016

779,487

779,487

At 31 March 2017

779,487

779,487

Carrying amount

At 31 March 2017

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
 

5

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2016

63,272

63,272

At 31 March 2017

63,272

63,272

Depreciation

At 1 April 2016

63,272

63,272

At 31 March 2017

63,272

63,272

Carrying amount

At 31 March 2017

-

-

6

Investment properties

2017
£

Additions

1,332,643

Investment properties are shown at fair value.The property was acquired in January 2017 and its fair value at 31 March is deemed to be unchanged from the purchase price.

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

There has been no valuation of investment property by an independent valuer.

7

Stocks

2017
£

2016
£

Other inventories

3,920

5,820

8

Debtors

2017
£

2016
£

Trade debtors

182,993

169,607

Other debtors

520

-

Total current trade and other debtors

183,513

169,607

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

9

Creditors

Note

2017
£

2016
£

Due within one year

 

Corporation tax

 

149,820

174,849

Other taxes and social security cost

 

56,926

49,775

Bank loans and overdrafts

10

314,791

-

Other creditors

 

7,917

302,000

 

529,454

526,624

Due after one year

 

Loans and borrowings

10

273,206

-

10

Loans and borrowings

2017
£

2016
£

Non-current loans and borrowings

Bank borrowings

273,206

-

2017
£

2016
£

Current loans and borrowings

Bank borrowings

314,791

-

11

Dividends

Final dividends declared

 

2017
£

2016
£

Final dividend of £200 (2016 - £0) per each Ordinary share

200,000

-

     
 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

12

Related party transactions

Summary of transactions with key management

During the year the Company purchased a leasehold apartment which is rented to A H Roux, a director, at a commercial rent of £3,000 per month. The total amount payable to the Company in the year to 31 March 2017 was £9,000.
 

13

Transition to FRS 102

Balance Sheet at 1 April 2015
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

 

Called up share capital

 

100

-

-

100

Profit and loss account

 

764,308

-

-

764,308

Total equity

 

764,408

-

-

764,408

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Balance Sheet at 31 March 2016
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

 

Called up share capital

 

100

-

-

100

Profit and loss account

 

659,696

-

-

659,696

Total equity

 

659,796

-

-

659,796