Company Registration No. 2409689 (England and Wales)
PROMOSALONS (UK) LIMITED
Unaudited accounts
for the year ended 31 December 2017
PROMOSALONS (UK) LIMITED
Unaudited accounts
Contents
PROMOSALONS (UK) LIMITED
Company Information
for the year ended 31 December 2017
Company Number
2409689 (England and Wales)
Registered Office
Northside House Mount Pleasant
Cockfosters
Barnet
Hertfordshire
EN4 9EB
PROMOSALONS (UK) LIMITED
Statement of financial position
as at
31 December 2017
Tangible assets
149
1,678
Cash at bank and in hand
260,669
153,827
Creditors: amounts falling due within one year
(166,403)
(118,755)
Net current assets
212,385
204,872
Net assets
212,534
206,550
Called up share capital
15,000
15,000
Capital contribution reserve
216,943
216,943
Profit and loss account
(19,409)
(25,393)
Shareholders' funds
212,534
206,550
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 September 2018.
C Moreau
Director
Company Registration No. 2409689
PROMOSALONS (UK) LIMITED
Notes to the Accounts
for the year ended 31 December 2017
PROMOSALONS (UK) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 2409689. The registered office is Northside House Mount Pleasant, Cockfosters, Barnet, Hertfordshire, EN4 9EB.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings
5 years
Computer equipment
1-3 years
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
PROMOSALONS (UK) LIMITED
Notes to the Accounts
for the year ended 31 December 2017
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
At 31 December 2017
43,334
Charge for the year
1,529
At 31 December 2017
43,185
At 31 December 2016
1,678
Trade debtors
35,364
142,012
Other debtors
82,755
27,788
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Creditors: amounts falling due within one year
2017
2016
Trade creditors
67,493
32,430
Taxes and social security
18,111
21,548
Other creditors
80,799
64,777
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Share capital
2017
2016
Allotted, called up and fully paid:
15,000 Ordinary shares of £1 each
15,000
15,000
PROMOSALONS (UK) LIMITED
Notes to the Accounts
for the year ended 31 December 2017
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Transactions with related parties
During the period the company was a 100% subsidiary of Comité pour la Promotion à l'étranger des Salons Français and the comapny is claiming exemption from disclosing inter-group transactions as consolidated accounts are prepared and publically available (see Controlling party note).
The immediate and ultimate parent company is Comité pour la Promotion à l'étranger des Salons Français.
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Average number of employees
During the year the average number of employees was 6 (2016: 6).