Chez Roux Limited - Period Ending 2018-03-31

Chez Roux Limited - Period Ending 2018-03-31


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Registration number: 06557675

Chez Roux Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

[FRS 102 SECTION1A]
[FILLETED FOR FILING PURPOSES]

Tremaines Ltd
East Wing, South Hill
Paddockhurst Road
Turners Hill
West Sussex
RH10 4SF

 

Chez Roux Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Chez Roux Limited

Company Information

Directors

M A Roux

A H Roux

Mrs G F Roux

Registered office

539 Wandsworth Road
London
SW8 3JD

Accountants

Tremaines Ltd
East Wing, South Hill
Paddockhurst Road
Turners Hill
West Sussex
RH10 4SF

 

Chez Roux Limited

(Registration number: 06557675)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Investment property

6

1,332,643

1,332,643

Current assets

 

Stocks

7

-

3,920

Debtors

8

150,887

183,513

Cash at bank and in hand

 

275,468

494,612

 

426,355

682,045

Creditors: Amounts falling due within one year

9

(299,228)

(529,454)

Net current assets

 

127,127

152,591

Total assets less current liabilities

 

1,459,770

1,485,234

Creditors: Amounts falling due after more than one year

9

(204,974)

(273,206)

Net assets

 

1,254,796

1,212,028

Capital and reserves

 

Called up share capital

10

100

100

Profit and loss account

1,254,696

1,211,928

Total equity

 

1,254,796

1,212,028

For the financial year ending 31 March 2018 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 2018

Approved and authorised by the Board on 29 August 2018 and signed on its behalf by:
 

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

A H Roux
Director

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

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 29 August 2018.

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.

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

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.

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 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

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:

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.

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

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.

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
 
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2017 - 7).

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2017

779,487

779,487

At 31 March 2018

779,487

779,487

Amortisation

At 1 April 2017

779,487

779,487

At 31 March 2018

779,487

779,487

Carrying amount

At 31 March 2018

-

-

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2017

63,272

63,272

At 31 March 2018

63,272

63,272

Depreciation

At 1 April 2017

63,272

63,272

At 31 March 2018

63,272

63,272

Carrying amount

At 31 March 2018

-

-

6

Investment properties

2018
£

At 1 April

1,332,643

The property was acquired in January 2017. At 31 March 2018 the Directors believed the fair value to be unchanged from the purchase price, based on discussions with local agents.

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

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

7

Stocks

2018
£

2017
£

Other inventories

-

3,920

8

Debtors

2018
£

2017
£

Trade debtors

147,884

182,993

Prepayments

3,003

-

Other debtors

-

520

150,887

183,513

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

9

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Taxation and social security cost

 

112,273

206,746

Bank loans and overdrafts

11

67,956

314,791

Other creditors

 

118,999

7,917

 

299,228

529,454

Due after one year

 

Loans and borrowings

11

204,974

273,206

Creditors: amounts falling due after more than one year

Note

2018
£

2017
£

Due after one year

 

Loans and borrowings

11

204,974

273,206

10

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

11

Loans and borrowings

2018
£

2017
£

Non-current loans and borrowings

Bank borrowings

204,974

273,206

 

Chez Roux Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

2018
£

2017
£

Current loans and borrowings

Bank borrowings

67,956

314,791

12

Dividends

 

2018
£

2017
£

Dividend paid of £2,000 (2017 - £0) per each Ordinary share

200,000

-