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Registration number: 05484888

Bereco Group Limited

Filleted Financial Statements

for the Period from 1 October 2022 to 31 December 2023

 

Bereco Group Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Bereco Group Limited

(Registration number: 05484888)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

30 September
2022
£

Fixed assets

 

Investments

4

98,752

98,752

Current assets

 

Debtors

5

992,707

4,995

Cash at bank and in hand

 

26

2,650,399

 

992,733

2,655,394

Creditors: Amounts falling due within one year

6

(992,379)

(1,150,003)

Net current assets

 

354

1,505,391

Net assets

 

99,106

1,604,143

Capital and reserves

 

Called up share capital

97,750

97,750

Capital redemption reserve

1,000

1,000

Retained earnings

356

1,505,393

Shareholders' funds

 

99,106

1,604,143

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 20 June 2024 and signed on its behalf by:
 

.........................................
Mrs K A L Cox
Director

   
     
 

Bereco Group Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

1

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:
Unit 5
Aspen Centurian Business Park
Bessemer Way
Rotherham
South Yorkshire
S60 1FB

These financial statements were authorised for issue by the Board on 20 June 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 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 financial statements are for the 15 month period 1 October 2022 to 31 December 2023 so are not entirely comparable to the prior period which was for the 6 months ended 30 September 2022.
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

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 20 June 2024 was Richard Taylor, who signed for and on behalf of DJH Mitten Clarke Audit Limited.

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
The company holds only basic financial instruments as defined by FRS102. The financial assets and financial liabilities of the company and their measurement bases are as follows:

 Recognition and measurement
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4 (2022 - 2).

4

Investments

31 December
2023
£

30 September
2022
£

Investments in subsidiaries

98,752

98,752

Subsidiaries

£

Cost or valuation

At 1 October 2022

98,752

Provision

Carrying amount

At 31 December 2023

98,752

At 30 September 2022

98,752

 

Bereco Group Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

5

Debtors

Note

31 December
2023
£

30 September
2022
£

Amounts owed by related parties

987,712

-

Other debtors

 

4,995

4,995

 

992,707

4,995

6

Creditors

Creditors: amounts falling due within one year

Note

31 December
2023
£

30 September
2022
£

Due within one year

 

Amounts owed to related parties

992,170

1,150,000

Corporation tax

 

209

3

 

992,379

1,150,003


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.

7

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.

8

Parent and ultimate parent undertaking

The company's immediate parent is Bereco Group Holdings Limited, incorporated in England.

 The ultimate parent is Orange UK Holdings Limited, incorporated in England.

 The most senior parent entity producing publicly available financial statements is Orange UK Holdings Limited. These financial statements are available upon request from CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW.

 The ultimate controlling party is Mr S Orange.

The parent of the largest group in which these financial statements are consolidated is Orange UK Holdings Limited, incorporated in England.

 

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:
CorpAcq House
1 Goose Green
Altrincham
Cheshire
WA14 1DW

The parent of the smallest group in which these financial statements are consolidated is CorpAcq Limited, incorporated in England.

The address of CorpAcq Limited is:
CorpAcq House
1 Goose Green
Altrincham
Cheshire
WA14 1DW