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Registration number: 05760964

Birkensfield Limited



Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Birkensfield Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Birkensfield Limited

Company Information

Directors

Mr MA Ulrich

Mr Giovanni Andrea Innocenti

Registered office

Second Floor
150-151 Fleet Street
London
EC4A 2DQ

Registered Number

05760964

Accountants

Gower Accountancy Limited
Chartered Certified Accountants
Second Floor
150-151 Fleet Street
London
EC4A 2DQ

 

Birkensfield Limited

(Registration number: 05760964)
Balance Sheet as at 31 December 2023

Note

2023

2022

Fixed assets

 

Investments

4

23,700

23,700

Current assets

 

Debtors

5

349,807

345,671

Cash at bank and in hand

 

24,291

3,390

 

374,098

349,061

Creditors: Amounts falling due within one year

6

(220,952)

(187,066)

Net current assets

 

153,146

161,995

Total assets less current liabilities

 

176,846

185,695

Creditors: Amounts falling due after more than one year

6

(314,642)

(309,816)

Net liabilities

 

(137,796)

(124,121)

Capital and reserves

 

Called up share capital

7

1,386

1,386

Retained earnings

(139,182)

(125,507)

Shareholders' deficit

 

(137,796)

(124,121)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
Mr MA Ulrich
Director

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Birkensfield Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Second Floor
150-151 Fleet Street
London
EC4A 2DQ
United Kingdom

These financial statements were approved by the Board on 18 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Birkensfield Limited

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Birkensfield Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Investments

2023

2022

Investments in subsidiaries

23,700

23,700

Subsidiaries

Cost or valuation

At 1 January 2023

23,700

Provision

Carrying amount

At 31 December 2023

23,700

At 31 December 2022

23,700

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Ondatra B.V. (Co. Reg. No. 33256289)

Netherlands

Ordinary

100%

100%

Subsidiary undertakings

Ondatra B.V. (Co. Reg. No. 33256289)

The principal activity of Ondatra B.V. (Co. Reg. No. 33256289) is Financial Investments.

5

Debtors

 

Birkensfield Limited

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

Current

2023

2022

Trade debtors

133,000

135,000

Other debtors

216,807

210,671

 

349,807

345,671

6

Creditors

Creditors: amounts falling due within one year

2023

2022

Due within one year

Trade creditors

23,533

28,768

Accruals and deferred income

1,035

7,809

Other creditors

196,384

150,489

220,952

187,066

Creditors: amounts falling due after more than one year

2023

2022

Due after one year

Other non-current financial liabilities

314,642

309,816

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

No.

Ordinary Shares of €1.39 each

1,000

1,386

1,000

1,386

       

8

Related party transactions

 

Birkensfield Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2023

2022

Remuneration

98,938

101,605