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REGISTERED NUMBER: 02051250 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Bernstein Ltd

Bernstein Ltd (Registered number: 02051250)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bernstein Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: P Sharp





REGISTERED OFFICE: Unit One
Tintagel Way
Westgate
Aldridge
West Midlands
WS9 8ER





REGISTERED NUMBER: 02051250 (England and Wales)





AUDITORS: Haines Watts Wolverhampton Limited
Statutory Auditors
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Bernstein Ltd (Registered number: 02051250)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 239,517 244,662

CURRENT ASSETS
Stocks 346,887 389,244
Debtors 5 364,647 432,212
Cash at bank 268,911 197,214
980,445 1,018,670
CREDITORS
Amounts falling due within one year 6 273,864 226,114
NET CURRENT ASSETS 706,581 792,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

946,098

1,037,218

PROVISIONS FOR LIABILITIES 2,721 1,142
NET ASSETS 943,377 1,036,076

CAPITAL AND RESERVES
Called up share capital 8 5,000 5,000
Retained earnings 938,377 1,031,076
SHAREHOLDERS' FUNDS 943,377 1,036,076

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 February 2024 and were signed by:





P Sharp - Director


Bernstein Ltd (Registered number: 02051250)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bernstein Ltd 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 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. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts. Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- 2% on cost
Plant and machinery- 20% and 25% on cost
Fixtures and fittings- 20% on cost
Computer equipment- 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Bernstein Ltd (Registered number: 02051250)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 431,074 108,486 162,834 217,584 919,978
Additions - - 5,442 10,851 16,293
At 31 December 2023 431,074 108,486 168,276 228,435 936,271
DEPRECIATION
At 1 January 2023 206,772 97,917 160,579 210,048 675,316
Charge for year 8,621 3,519 2,132 7,166 21,438
At 31 December 2023 215,393 101,436 162,711 217,214 696,754
NET BOOK VALUE
At 31 December 2023 215,681 7,050 5,565 11,221 239,517
At 31 December 2022 224,302 10,569 2,255 7,536 244,662

Bernstein Ltd (Registered number: 02051250)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 293,258 373,250
Amounts owed by group undertakings 9,935 16,179
Other debtors 61,454 42,783
364,647 432,212

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 134,644 46,885
Amounts owed to group undertakings 46,392 18,571
Corporation tax 6,461 44,693
Social security and other taxes 21,767 25,912
VAT 57,518 82,193
Other creditors 7,082 7,860
273,864 226,114

7. LEASING AGREEMENTS
Total Financial Commitments which are not included in the Balance Sheet amount to £5,415. (2022: £23,327)

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
500 Ordinary £10 5,000 5,000

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

The Report of the Auditors was unqualified.

Geoffrey Hopwood BCOM ACA (Senior Statutory Auditor)
for and on behalf of Haines Watts Wolverhampton Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Bernstein AG.

Bernstein AG is the parent company, registered in Germany with its registered office at Hans-Bernstein-Strasse 1, D-32457 Porta Westfalica.