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BERNARD CONTROLS UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Bernard Controls UK Ltd is a private company limited by share capital and incorporated in England and Wales. The registered office is Becket House C/O CCFGB, 1 Lambeth Palace Road, London, England, SE1 7EU.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.
These financial statements are presented in Sterling (£) and rounded to the nearest whole (£).
The following principal accounting policies have been applied:
The company is a cost centre which recharges all expenses to its parent company at cost and is therefore entirely reliant on the parent company for funding. The directors expect the parent company to continue to support the company and to have sufficient funding to do so. The directors are therefore satisfied that it is appropriate to prepare the financial statements on a going concern basis.
Turnover represents recharge income received from Bernard Controls SA.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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