false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-01-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
723,315
682,263
xbrli:pure
xbrli:shares
iso4217:GBP
02280231
2017-01-01
2017-12-31
02280231
2017-12-31
02280231
2016-12-31
02280231
2016-01-01
2016-12-31
02280231
2016-12-31
02280231
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-01-01
2017-12-31
02280231
core:PlantMachinery
2017-01-01
2017-12-31
02280231
core:FurnitureFittings
2017-01-01
2017-12-31
02280231
bus:RegisteredOffice
2017-01-01
2017-12-31
02280231
bus:Director1
2017-01-01
2017-12-31
02280231
bus:Director2
2017-01-01
2017-12-31
02280231
bus:Director4
2017-01-01
2017-12-31
02280231
bus:Director3
2017-01-01
2017-12-31
02280231
bus:CompanySecretary1
2017-01-01
2017-12-31
02280231
bus:Director4
2017-12-31
02280231
bus:Director3
2017-12-31
02280231
core:WithinOneYear
2017-12-31
02280231
core:WithinOneYear
2016-12-31
02280231
core:RetainedEarningsAccumulatedLosses
2017-01-01
2017-12-31
02280231
core:RetainedEarningsAccumulatedLosses
2016-01-01
2016-12-31
02280231
core:RetainedEarningsAccumulatedLosses
2016-12-31
02280231
core:RetainedEarningsAccumulatedLosses
2015-12-31
02280231
core:RetainedEarningsAccumulatedLosses
2017-12-31
02280231
core:RetainedEarningsAccumulatedLosses
2016-12-31
02280231
core:ShareCapital
2017-12-31
02280231
core:ShareCapital
2016-12-31
02280231
bus:FRS102
2017-01-01
2017-12-31
02280231
bus:AuditExempt-NoAccountantsReport
2017-01-01
2017-12-31
02280231
bus:AbridgedAccounts
2017-01-01
2017-12-31
02280231
bus:SmallCompaniesRegimeForDirectorsReport
2017-01-01
2017-12-31
02280231
bus:PrivateLimitedCompanyLtd
2017-01-01
2017-12-31
Statement of Consent to Prepare Financial Statements
|
|
All of the members of Berger Closures Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
02280231
Unaudited Financial Statements
|
|
Year ended 31 December 2017
Abridged statement of income and retained earnings
|
2
|
|
|
Abridged statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
Year ended 31 December 2017
The directors present their report and the unaudited financial statements of the company for the year ended
31 December 2017
.
Directors
The directors who served the company during the year were as follows:
P Fontana
|
|
R Swart
|
|
Mr C Petri
|
(Appointed
20 April 2017)
|
J Rafael
|
(Retired
20 April 2017)
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
9 February 2018
and signed on behalf of the board by:
R Swart
Company Secretary
Registered office:
|
5 Doxford Drive
|
South West Industrial Estate
|
Peterlee
|
County Durham
|
SR8 2RL
|
|
Abridged Statement of Income and Retained Earnings
|
|
Year ended 31 December 2017
|
2017
|
2016
|
Note
|
£
|
£
|
Gross profit
|
1,504,602
|
1,296,355
|
|
|
|
Administrative expenses
|
614,202
|
452,544
|
|
------------
|
------------
|
Operating profit
|
890,400
|
843,811
|
|
|
|
Interest receivable
|
8,928
|
11,907
|
|
|
------------
|
------------
|
Profit before taxation
|
5
|
899,328
|
855,718
|
|
|
|
|
Taxation on ordinary activities
|
176,013
|
173,455
|
|
---------
|
---------
|
Profit for the financial year and total comprehensive income
|
723,315
|
682,263
|
|
---------
|
---------
|
|
|
|
Dividends paid and payable
|
(
1,162,969)
|
(
377,798)
|
|
|
|
Retained earnings at the start of the year
|
1,612,894
|
1,308,429
|
|
------------
|
------------
|
Retained earnings at the end of the year
|
1,173,240
|
1,612,894
|
|
------------
|
------------
|
|
|
|
All the activities of the company are from continuing operations.
Abridged Statement of Financial Position
|
|
31 December 2017
Fixed assets
Tangible assets
|
6
|
|
318,631
|
321,102
|
|
|
|
|
|
Current assets
Stocks
|
326,510
|
|
359,544
|
Debtors
|
390,101
|
|
874,744
|
Cash at bank and in hand
|
1,058,544
|
|
617,197
|
|
------------
|
|
------------
|
|
1,775,155
|
|
1,851,485
|
|
|
|
|
Creditors: amounts falling due within one year
|
668,764
|
|
307,023
|
|
------------
|
|
------------
|
Net current assets
|
|
1,106,391
|
1,544,462
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,425,022
|
1,865,564
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
1,782
|
2,670
|
|
|
------------
|
------------
|
Net assets
|
|
1,423,240
|
1,862,894
|
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
250,000
|
250,000
|
Profit and loss account
|
|
1,173,240
|
1,612,894
|
|
|
------------
|
------------
|
Members funds
|
|
1,423,240
|
1,862,894
|
|
|
------------
|
------------
|
|
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2017 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Abridged Statement of Financial Position (continued)
|
|
31 December 2017
These financial statements were approved by the
board of directors
and authorised for issue on
9 February 2018
, and are signed on behalf of the board by:
C Petri
Director
Company registration number:
02280231
Notes to the Financial Statements
|
|
Year ended 31 December 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Doxford Drive, South West Industrial Estate, Peterlee, County Durham, SR8 2RL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold Land & Buildings
|
-
|
2% straight line
|
|
Plant & Machinery
|
-
|
15% straight line
|
|
Fixtures & Fittings
|
-
|
15% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
19
(2016:
16
).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2017
|
2016
|
|
£
|
£
|
Depreciation of tangible assets
|
24,026
|
23,659
|
|
--------
|
--------
|
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 January 2017
|
1,477,149
|
Additions
|
21,555
|
|
------------
|
At 31 December 2017
|
1,498,704
|
|
------------
|
Depreciation
|
|
At 1 January 2017
|
1,156,047
|
Charge for the year
|
24,026
|
|
------------
|
At 31 December 2017
|
1,180,073
|
|
------------
|
Carrying amount
|
|
At 31 December 2017
|
318,631
|
|
------------
|
At 31 December 2016
|
321,102
|
|
------------
|
|
|
7.
Related party transactions
During the year the company purchased goods in normal course of business from August Berger Metallwarenfabriek GmbH & Co.KG (immediate holding company) at cost of £13,846 (2016: £48,594). Also during the year the company sold goods in the normal course of business to August Berger Metallwarenfabriek GMbH & Co.KG at a cost of £42,827 (2016: £2,891). During the year the company paid a management charge to August Bergere Metallwarenfabriek GmbH & Co. KG of £37,200. During the year the company received a management from August Berger Metallwarenfabriek of £151,200. Amounts owed at the balance sheet date by August Berger Metallwarenfabriek GmbH & Co.KG amounted to £2,602 (2016: £48). Amounts owed to August Berger Metallwarenfabriek GmbH & Co.KG amounted to £0 (2016: £3,004). During the year the company purchased goods in the normal course of business from Berger Italia at a cost of £148,867 at the balance sheet date the was no liability owing to Berger Italia.
8.
Controlling party
9.
Other spare note 99 heading
ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY
In the directors opinion the company's ultimate parent company and controlling party is HPI Holding Aktiengesellschaft which is incorporated in Germany.