Berwald Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 03454039

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,991		5,424

			6,991		5,424
CURRENT ASSETS
Stocks	5	1,664,763		1,923,498
Debtors	6	69,170		108,112
Cash at bank and in hand		7,110		45,392

		1,741,043		2,077,002
Creditors: Amounts Falling Due Within One Year	7	(87,283 )		(359,328 )

NET CURRENT ASSETS (LIABILITIES)			1,653,760		1,717,674

TOTAL ASSETS LESS CURRENT LIABILITIES			1,660,751		1,723,098

NET ASSETS			1,660,751		1,723,098

CAPITAL AND RESERVES
Called up share capital			2		2
Profit and Loss Account			1,660,749		1,723,096

SHAREHOLDERS' FUNDS			1,660,751		1,723,098

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Berwald Ltd

Balance Sheet (continued)

As At 30 June 2026

For the year ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr J Berwald

Director

6th October 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Berwald Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03454039 . The registered office is Constable Court, 62 Dene Street, Dorking, RH4 2DP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of antiques goods and from commission earned when acting as agent.

Sale of goods

Turnover from the sale of antiques is recognised when the significant risks and rewards of ownership of the goods have transferred to the customer. This is usually at the point that the customer has taken delivery of the goods as all significant risks, such as loss or damage, pass to the customer at that point.

Commission Income

Where the company acts as an agent in the sale of antique items, only the commission earned is recognised as revenue, rather than the gross sales value.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	10% Straight Line
Computer Equipment	20% Straight Line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Berwald Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 July 2025	62,325	4,829	67,154
Disposals	60,275	(3,295 )	56,980

As at 30 June 2026	122,600	1,534	124,134

Depreciation
As at 1 July 2025	57,464	4,266	61,730
Provided during the period	955	308	1,263
Disposals	57,445	(3,295 )	54,150

As at 30 June 2026	115,864	1,279	117,143

Net Book Value
As at 30 June 2026	6,736	255	6,991

As at 1 July 2025	4,861	563	5,424

5. Stocks

	2026	2025
	£	£
Stock	1,664,763	1,923,498

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	20,000	57,960
Prepayments and accrued income	17,348	15,925
Other debtors	31,822	21,182
Corporation tax recoverable	-	11,052
VAT	-	1,993

	69,170	108,112

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Berwald Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	50,000	50,000
Other taxes and social security	3,687	1,805
VAT	8,005	-
Accruals and deferred income	5,000	12,200
Directors' loan accounts	20,591	295,323

	87,283	359,328

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