Maison Sassy Uk Limited - Accounts to registrar (filleted) - small 18.2

MAISON SASSY UK LIMITED

Financial Statements

for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

A Perret

X D'Audiffret-Pasquier

A J L Darley

Registered office:

23 Queen's Gate Gardens

Flat 2

London

SW7 5LZ

Registered number:

11261583 (England and Wales)

Current assets

Debtors

4

41,348

21,304

Cash at bank

4,587

218,637

45,935

239,941

Creditors

Amounts falling due within one year

5

446,855

279,270

Net current liabilities

(400,920

)

(39,329

)

Total assets less current liabilities

(400,920

)

(39,329

)

Capital and reserves

Called up share capital

6

100

100

Retained earnings

7

(401,020

)

(39,429

)

Shareholders' funds

(400,920

)

(39,329

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2020 and were signed on its behalf by:

X D'Audiffret-Pasquier - Director

1.	Statutory information

Maison Sassy Uk 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.

2.	Accounting policies

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents amounts receivable for goods provided in the year and is stated net of VAT.

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 balance sheet date.

Deferred tax

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

balance sheet 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

balance sheet 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the

director has carefully considered these risks including an assessment on uncertainty on future trading

projection for a period of at least 12 months from the date of signing the financial statements, and the extent to

which they might affect the preparation of the financial statements on a going concern basis. The Company has

confirmed with the parent Company that they will continue to support and fund the company where needed for

the foreseeable future. Without this, the Company cannot continue.

Based on assessment, the director considers that the Company maintains an appropriate level of liquidity,

sufficient to meet the demands of the business including any capital and servicing obligations and external debt

liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers

that the Company is not exposed to losses on these assets which would affect their decision to adopt the going

concern basis.

The director has a reasonable expectation that the Company has adequate resources to continue in operational

existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts

upon the Company's ability to continue as a going concern. Thus the director has continued to adopt the going

concern basis of accounting in preparing these financial statements.

COVID-19

The directors acknowledge the current outbreak of COVID-19 which is causing economic disruption in most

countries and its potentially adverse economic impact on the Company. This is an additional risk factor which

could impact the operations of the Company after year end.

The directors are actively monitoring developments closely. Given the nature of the outbreak and the on-going

developments, there is a high degree of uncertainty and it is not possible at this time to predict the extent and

nature of the overall future impact on the Company.

3.	Employees and directors

The average number of employees during the year was 5 (2018 - 5 ) .

4.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

40,546

21,204

VAT

802

-

Called up share capital not paid

-

100

41,348

21,304

5.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

134,627

22,182

Amounts owed to group undertakings

296,772

250,000

Social security and other taxes

7,264

5,188

Other creditors

6,192

-

Accruals and deferred income

2,000

1,900

446,855

279,270

6.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Share capital 1

£1

100

100

7.

Reserves

Retained

earnings

£

At 1 January 2019

(39,429

)

Deficit for the year

(361,591

)

At 31 December 2019

(401,020

)