Registration number:
Bereco Group Limited
for the Period from 1 October 2022 to 31 December 2023
Bereco Group Limited
(Registration number: 05484888)
Balance Sheet as at 31 December 2023
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31 December |
30 September |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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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
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Bereco Group Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales registered number 05484888.
The address of its registered office is:
These financial statements were authorised for issue by the
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Summary of disclosure exemptions
The company is exempt from preparing group accounts under s400 of the Companies Act as it is included in the accounts of a larger group.
Name of parent of group
These financial statements are consolidated in the financial statements of CorpAcq Limited.
The financial statements of CorpAcq Limited may be obtained from CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW.
Disclosure of long or short period
The period was extended to align the period with that of the group.
Bereco Group Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of one year from the date of authorisation for issue of the financial statements and have concluded that the company has the support of the group, has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the company's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Audit report
Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are likely to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
The directors consider that there are no critical judgements made in the process of applying the company's accounting policies and there have been no key assumptions or key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year. |
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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.
Bereco Group Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Bereco Group Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Financial instruments
Classification
Recognition and measurement
Cash at bank and in hand is a basic financial instrument and is measured at face value.
Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investments |
31 December |
30 September |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 October 2022 |
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Provision |
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Carrying amount |
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At 31 December 2023 |
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At 30 September 2022 |
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Bereco Group Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Debtors |
Note |
31 December |
30 September |
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Amounts owed by related parties |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
31 December |
30 September |
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Due within one year |
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Amounts owed to related parties |
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Corporation tax |
209 |
3 |
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Although the company has no borrowings at the year end, the company's bankers have a fixed and floating charge over all assets of the company.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
There is an unlimited multilateral guarantee dated 9 March 2023 between Bereco Group Holdings Limited, Bereco Group Limited, Bereco Limited and Bereco Retail Limited.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
The ultimate controlling party is
The parent of the largest group in which these financial statements are consolidated is
Bereco Group Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
The address of Orange UK Holdings Limited is:
1 Goose Green
Altrincham
Cheshire
WA14 1DW
The parent of the smallest group in which these financial statements are consolidated is
The address of CorpAcq Limited is:
1 Goose Green
Altrincham
Cheshire
WA14 1DW