Company registration number 06218826 (England and Wales)
BERWIN OF LYDNEY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BERWIN OF LYDNEY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BERWIN OF LYDNEY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
769,319
769,319
Current assets
Debtors
5
1,099,714
1,099,714
Creditors: amounts falling due within one year
6
(1,719,013)
(1,719,013)
Net current liabilities
(619,299)
(619,299)
Net assets
150,020
150,020
Capital and reserves
Called up share capital
7
22
22
Share premium account
8
149,998
149,998
Total equity
150,020
150,020

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 July 2024 and are signed on its behalf by:
J E Dowdall
Director
Company Registration No. 06218826
BERWIN OF LYDNEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Berwin of Lydney Limited is a private company limited by shares incorporated in England and Wales. The registered office is Broadway, Globe Lane Industrial Estate, Dukinfield, Cheshire, United Kingdom, SK16 4UJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of the ultimate parent

entity, Hexpol AB. These consolidated financial statements are available from its registered office, Skeppsbron 3, SE-211 Malmo, Sweden (www.hexpol.com).

1.2
Going concern

As at the balance sheet date, the Company had net assets of £150k (2022: £150k) and net current liabilities of £619k (2022: £619k).true

 

As the Company is dormant and the Directors do not intend to acquire a trade, they have not prepared the financial statements on a going concern basis. Nevertheless, assets continue to be carried at the lower of cost and their recoverable amount which reflects the expected amounts to be recovered on settlement as appropriate. In addition, assets and liabilities are classified as current or non-current in accordance with the contractual terms of those balances and the anticipated timing of settlement.

 

The Directors anticpate that the Company will remain dormant for the foreseeable future.

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

BERWIN OF LYDNEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

BERWIN OF LYDNEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4

There were no employees other than directors in either the current or prior year.

 

No director received remuneration from the company in either the current or prior year.

3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
769,319
769,319
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Berwin Industrial Polymers Limited
England and Wales
Ordinary
100.00

On 1 March 2022, Berwin Industrial Polymers Limited sold its trade and assets at net book value to Berwin Rubber Company Limited, a fellow subsidiary of the ultimate parent company,

 

The directors have conducted an impairment review, taking into account the net asset value retained in Berwin Industrial Polymers Limited and the recoverability (and liquidity) of those assets, and have not identified any indicators of impairment as the assets were transferred at net book value.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,099,714
1,099,714

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
1,719,013
1,719,013
BERWIN OF LYDNEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Creditors: amounts falling due within one year
(Continued)
- 5 -

Amounts owed to group undertakings are interest free, unsecured and repayable on demand.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
2,200
2,200
22
22
8
Share premium account

The share premium reserve includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from the share premium.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter - financial statements prepared on a basis other than going concern

We draw attention to note 1.2 of the financial statements which explains that the company is dormant and the directors do not intend to acquire a trade and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 1.2. Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Graham Rigby
Statutory Auditor:
Azets Audit Services
10
Related party transactions

The company has taken advantage of the exemption available under FRS 102 paragraph 33.1a not to disclose transactions with other group companies which meet the criteria that all subsidiary undertakings which are party to the transactions are wholly owned by the ultimate controlling parent. Refer to notes 5 and 6 for year-end intercompany balances.

11
Parent company

The directors consider the ultimate parent company to be Hexpol AB, a company registered in Sweden. Berwin Group Limited is the immediate parent company and is under the control of Hexpol AB. Copies of the consolidated financial statements of Hexpol AB, the parent of the smallest group which draws up consolidated financial statements, are available from Skeppsbron 3, SE-211 20 Malmo, Sweden (www.hexpol.com).

2023-12-312023-01-01false2024-07-19CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedJ E DowdallP K RosenC RuterR J WolkenerA Bramwellfalsefalse062188262023-01-012023-12-31062188262023-12-31062188262022-12-3106218826core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106218826core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3106218826core:ShareCapital2023-12-3106218826core:ShareCapital2022-12-3106218826core:SharePremium2023-12-3106218826core:SharePremium2022-12-3106218826bus:Director12023-01-012023-12-31062188262022-01-012022-12-310621882612023-01-012023-12-3106218826core:CurrentFinancialInstruments2022-12-3106218826core:CurrentFinancialInstruments2023-12-3106218826bus:EntityNoLongerTradingButTradedInPast2023-01-012023-12-3106218826bus:PrivateLimitedCompanyLtd2023-01-012023-12-3106218826bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106218826bus:FRS1022023-01-012023-12-3106218826bus:Audited2023-01-012023-12-3106218826bus:Director22023-01-012023-12-3106218826bus:Director32023-01-012023-12-3106218826bus:Director42023-01-012023-12-3106218826bus:CompanySecretary12023-01-012023-12-3106218826bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP