Maison Sassy Uk Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11261583 (England and Wales)

Maison Sassy UK Limited

Financial Statements

for the Year Ended 31 December 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

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

Stocks

155,959

101,481

Debtors

4

213,212

257,832

Cash at bank

104,008

46,768

473,179

406,081

Creditors

Amounts falling due within one year

5

1,987,448

1,606,935

Net current liabilities

(1,514,269

)

(1,200,854

)

Total assets less current liabilities

(1,514,269

)

(1,200,854

)

Creditors

Amounts falling due after more than one year

6

(19,085

)

(28,649

)

Provisions for liabilities

-

(10,450

)

Net liabilities

(1,533,354

)

(1,239,953

)

Capital and reserves

Called up share capital

7

100

100

Retained earnings

8

(1,533,454

)

(1,240,053

)

Shareholders' funds

(1,533,354

)

(1,239,953

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 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 10 May 2024 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.

The accounts are presented in Sterling (£).

Amounts in these financial statements are rounded to the nearest £.

Going concern

The parent company has agreed that it will continue to support the Company in it's operations for the next 12 months.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

(i) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the LLP assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iv) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

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.

3.	Employees and directors

The average number of employees during the year was 6 (2022 - 5 ) .

4.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

213,212

256,282

Directors' loan accounts

-

1,550

213,212

257,832

5.

Creditors: amounts falling due within one year

2023

2022

£

£

Bank loans and overdrafts

9,564

9,327

Trade creditors

383,583

166,364

Amounts owed to group undertakings

1,250,903

1,319,196

Social security and other taxes

20,480

44,473

VAT

192,529

64,975

Directors' loan accounts

67,949

-

Accruals and deferred income

62,440

2,600

1,987,448

1,606,935

6.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Bank loans - 1-2 years

9,805

9,564

Bank loans - 2-5 years

9,280

19,085

19,085

28,649

7.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

8.

Reserves

Retained

earnings

£

At 1 January 2023

(1,240,053

)

Deficit for the year

(293,401

)

At 31 December 2023

(1,533,454

)