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REGISTERED NUMBER: 05192459 (England and Wales)










BERNARD QUARITCH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






BERNARD QUARITCH LIMITED (REGISTERED NUMBER: 05192459)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BERNARD QUARITCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: J T L Koh





SECRETARY: P Sia





REGISTERED OFFICE: 36 Bedford Row
London
WC1R 4JH





REGISTERED NUMBER: 05192459 (England and Wales)





ACCOUNTANTS: Hakim Fry
Chartered Accountants
69-71 East Street
Epsom
Surrey
KT17 1BP

BERNARD QUARITCH LIMITED (REGISTERED NUMBER: 05192459)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
CURRENT ASSETS
Stocks 886,867 626,140
Debtors 6 369,943 514,695
Cash at bank and in hand 273,331 233,591
1,530,141 1,374,426
CREDITORS
Amounts falling due within one year 7 883,773 787,464
NET CURRENT ASSETS 646,368 586,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,368

586,962

CREDITORS
Amounts falling due after more than one
year

8

67,499

107,991
NET ASSETS 578,869 478,971

CAPITAL AND RESERVES
Called up share capital 1,650,000 1,650,000
Retained earnings (1,071,131 ) (1,171,029 )
SHAREHOLDERS' FUNDS 578,869 478,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 10 June 2024 and were signed by:



J T L Koh - Director


BERNARD QUARITCH LIMITED (REGISTERED NUMBER: 05192459)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Bernard Quaritch 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The director considers that the company remains a going concern by virtue of ongoing financial support provided by related parties.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.
The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the company's sales channels have been met, as described below.

a) Sale of goods.
Sales of goods are recognised on sale to the customer, which is considered the point of despatch from the office or collected. Sales can be either on cash or credit terms.

b) Sale of service
The company provides sales and purchase in auctions for customers. Revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract have been fulfilled. Sales are usually on credit terms.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 30% 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 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.


BERNARD QUARITCH LIMITED (REGISTERED NUMBER: 05192459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. 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.

Financial instruments
Financial assets such as cash and debtors are measured at the present value of the amounts receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities such as trade creditors, loans and finance leases are measured at the present value of the obligation. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 82,272 107,502 189,774
DEPRECIATION
At 1 December 2022
and 30 November 2023 82,272 107,502 189,774
NET BOOK VALUE
At 30 November 2023 - - -
At 30 November 2022 - - -

BERNARD QUARITCH LIMITED (REGISTERED NUMBER: 05192459)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 147,229 298,104
Amounts owed by group undertakings 172,365 163,238
Other debtors 50,349 53,353
369,943 514,695

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 5,453 4,503
Trade creditors 533,771 350,495
Tax 30,098 40,003
Social security and other taxes 10,962 11,212
VAT 6,636 -
Other creditors 150,662 235,059
Directors' current accounts 146,191 146,192
883,773 787,464

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 2-5 years 21,814 22,090
Bank loans more 5 yr by instal 9,770 16,000
Directors' loan accounts 35,915 69,901
67,499 107,991

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,770 16,000

9. RELATED PARTY DISCLOSURES

At the year end the amount of £20,789 ( 2022: £20,789) was owed by Qforum Limited. Mr J T L Koh is a director of Qforum Limited.

The director's loans are secured by way of first legal charge on the parent company's property.

10. CONTROLLING PARTY

The company's immediate parent undertaking is Brandmine Properties Limited, a company registered in England and Wales.

The ultimate controlling party is the director J T L Koh.