Laguelle Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03323847 (England and Wales)

Audited Financial Statements

for the Year Ended 31st December 2016

for

LAGUELLE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P F Laguelle

SECRETARY:

Castlegate Secretaries Limited

REGISTERED OFFICE:

C/o CCFGB

4th Floor Lincoln House

300 High Holborn

London

WC1V 7JH

REGISTERED NUMBER:

03323847 (England and Wales)

AUDITORS:

Byrne Palmer & Co

Statutory Auditor

14 Queens Road

Hersham

Walton on Thames

Surrey

KT12 5LS

SOLICITORS:

Browne Jacobson LLP

15th Floor, 6 Bevis Marks

Bury Court

London

England

EC3A 7BA

CURRENT ASSETS

Debtors

3

125,609

73,502

Cash at bank

83,523

134,276

209,132

207,778

CREDITORS

Amounts falling due within one year

4

27,848

27,442

NET CURRENT ASSETS

181,284

180,336

TOTAL ASSETS LESS CURRENT LIABILITIES

181,284

180,336

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

179,284

178,336

SHAREHOLDERS' FUNDS

8

181,284

180,336

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 13th September 2017 and were signed by:

P F Laguelle - Director

1.	STATUTORY INFORMATION

Laguelle 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

These financial statements for the year ended 31 December 2016 are the first financial statements of Laguelle

Limited prepared in accordance with FRS102. The date of transition to FRS 102 was 1 January 2015. The

position as the date of transition is detailed on page 10.

The effect of events in relation to the year ended 31 December 2016 which occurred before the date of approval

of the financial statements by the Board of Directors, have been included in the statements to the extent required

to show a true and fair view of the state of affairs at 31 December 2016 and of the results for the year ended on

that date.

The average number of employees during the year was nil.

Turnover

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

value added tax and other sales taxes.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from/to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to

be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction,

like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not

a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is

measured, initially and subsequently, at the present value of the future payments discounted at a market rate of

interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective

interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss

is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between

an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company

would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the and settle the liability simultaneously.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

59,690

33,542

Amounts owed by group undertakings

64,622

38,395

Other debtors

1,297

1,565

125,609

73,502

The sum of £64,622 due from group undertakings is repayable on demand.

Included in Other Debtors is a deferred tax asset of £412. This sum will be recoverable after more than one year.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

3,090

1,302

Taxation and social security

17,072

18,902

Other creditors

7,686

7,238

27,848

27,442

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lesley Woodward-Thwaites FCCA, ACA (Senior Statutory Auditor)

for and on behalf of Byrne Palmer & Co

6.	RELATED PARTY DISCLOSURES

During the year Laguelle Limited had the following transactions with Laguelle SAS, the parent company:

Purchased goods totalling £415,681

Paid management fees totalling £8,117

The balance due from the parent company at the year end amounted to £64,622

Advances provided to/from group companies are provided interest free and are repayable on demand.

7.	ULTIMATE CONTROLLING PARTY

The parent company is Laguelle SAS, a company registered in France. The registered office is 27 route de

Herisson, 03430 Cosne d'Allier, France.

The ultimate controlling party is N M Laguelle by virtue of her shareholding in Laguelle SAS.

8.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2016

2015

£

£

Profit for the financial year

948

1,187

Net addition to shareholders' funds

948

1,187

Opening shareholders' funds

180,336

179,149

Closing shareholders' funds

181,284

180,336