La Fromagerie Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04425074 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

La Fromagerie Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D Michelson

Mrs P Michelson

Ms S J Bilney

R L Van Geest

SECRETARY:

Mrs P Michelson

REGISTERED OFFICE:

119 The Hub

300 Kensal Road

London

W10 5BE

REGISTERED NUMBER:

04425074 (England and Wales)

ACCOUNTANT:

Hilton Consulting Limited

119 The Hub

300 Kensal Road

London

W10 5BE

FIXED ASSETS

Tangible assets

5

493,535

549,062

CURRENT ASSETS

Stocks

291,536

317,902

Debtors

284,661

204,620

Cash at bank and in hand

69,952

42,453

646,149

564,975

CREDITORS

Amounts falling due within one year

727,622

774,756

NET CURRENT LIABILITIES

(81,473

)

(209,781

)

TOTAL ASSETS LESS CURRENT LIABILITIES

412,062

339,281

CREDITORS

Amounts falling due after more than one year

1,200

63,138

NET ASSETS

410,862

276,143

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

409,862

275,143

SHAREHOLDERS' FUNDS

410,862

276,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 9 December 2019 and were signed on its behalf by:

D Michelson - Director

1.	STATUTORY INFORMATION

La Fromagerie Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision

of services, 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 company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that the future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

15% on reducing balance

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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.

Financial instruments

Basic financial instruments are initially recognised at cost and subsequently measure at amortised cost using the

effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as

operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis

over the period of the lease.

Assets acquired under finance leases are capitalised and depreciated over the expected useful life of the asset.

Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding

lease liability using the effective interest method. The related obligations, net of future finance charges, are

included in creditors.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2018 - 68 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

1,233,565

Additions

32,627

At 30 June 2019

1,266,192

DEPRECIATION

At 1 July 2018

684,503

Charge for year

88,154

At 30 June 2019

772,657

NET BOOK VALUE

At 30 June 2019

493,535

At 30 June 2018

549,062

Included in the net book value of land and buildings is £322,424 (2016: £146,512) in respect of long leasehold

land and buildings.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2019 and

30 June 2018:

30.6.19

30.6.18

£

£

D Michelson

Balance outstanding at start of year

42

8,288

Amounts advanced

2,024

42

Amounts repaid

-

(8,288

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,066

42

Mrs P Michelson

Balance outstanding at start of year

17

-

Amounts advanced

-

17

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

17

The loans were fully repaid within 9 months and 1 day of the balance sheet date.

7.	RELATED PARTY DISCLOSURES

During the year the Company received a loan from Mrs G van Geest, a close relation to Mr R van Geest -

director of the company. The balance owing to Mrs van Geest at the year end was £130,000. The loan will be

fully repaid, including interest charges, by 31/12/2019.