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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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CHALET SORBIER LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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FOR |
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CHALET SORBIER LIMITED |
CHALET SORBIER LIMITED (REGISTERED NUMBER: 03437466) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CHALET SORBIER LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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30 - 34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
CHALET SORBIER LIMITED (REGISTERED NUMBER: 03437466) |
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BALANCE SHEET |
30 SEPTEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
CHALET SORBIER LIMITED (REGISTERED NUMBER: 03437466) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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CHALET SORBIER LIMITED (REGISTERED NUMBER: 03437466) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Chalet Sorbier Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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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" and the Companies |
Act 2006. The financial statements have been prepared under the historical cost convention, as |
modified by the recognition of certain assets and liabilities measured at fair value. |
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Significant judgements and estimates |
No significant judgements have had to be made by management in preparing these financial |
statements. |
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There were no key assumptions made concerning the future, and other key sources of estimation |
uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the |
carrying amounts of assets and liabilities within the next financial year. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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The company recognises revenue when the significant risks and rewards of ownership have been |
transferred to the buyer; the company retains no continuing involvement or control over the goods; the |
amount of revenue can be measured reliably; and when it is probable that future economic benefits will |
flow to the entity. |
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Tangible fixed assets |
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated |
impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the |
asset to its working condition for its intended use, dismantling and restoration costs. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
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Fixtures and fittings - 25% reducing balance |
Computer equipment - 33% straight line |
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The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of |
each reporting period. The effect of any change is accounted for prospectively. |
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*Non-depreciation of freehold property is not in accordance with FRS 102. However, as current market |
value is in excess of cost no provision is considered necessary. Regular impairment reviews are |
conducted to support the carrying value with any diminution in value being recognised in the period in |
which it occurs. |
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Investment properties whose fair value cannot be measured reliably without undue cost or effort on an |
on-going basis are included in plant, property and equipment at cost less accumulated depreciation |
and accumulated impairment losses. |
CHALET SORBIER LIMITED (REGISTERED NUMBER: 03437466) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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 banks |
and other third parties, and loans to related parties. |
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Debt instruments that are payable or receivable within one year, are measured, initially and |
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or |
received; other debt instruments are initially measured at present value of the future payments and |
subsequently at amortised cost using the effective interest method. |
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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. |
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Financial assets and liabilities are offset and the net amount reported in the balance sheet only 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 asset and settle the liability simultaneously. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
CHALET SORBIER LIMITED (REGISTERED NUMBER: 03437466) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2018 |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2017 |
and 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | 1 | 2 | 2 |