ACCOUNTS - Final Accounts

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-01-01 07601970 2017-01-01 2017-12-31 07601970 2016-01-01 2016-12-31 07601970 2017-12-31 07601970 2016-12-31 07601970 c:Director2 2017-01-01 2017-12-31 07601970 d:Buildings d:ShortLeaseholdAssets 2017-01-01 2017-12-31 07601970 d:FurnitureFittings 2017-01-01 2017-12-31 07601970 d:FurnitureFittings 2016-12-31 07601970 d:ComputerEquipment 2017-01-01 2017-12-31 07601970 d:ComputerEquipment 2016-12-31 07601970 d:CurrentFinancialInstruments 2017-12-31 07601970 d:CurrentFinancialInstruments 2016-12-31 07601970 d:Non-currentFinancialInstruments 2017-12-31 07601970 d:Non-currentFinancialInstruments 2016-12-31 07601970 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 07601970 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 07601970 d:Non-currentFinancialInstruments d:AfterOneYear 2017-12-31 07601970 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 07601970 d:ShareCapital 2017-12-31 07601970 d:ShareCapital 2016-12-31 07601970 d:RetainedEarningsAccumulatedLosses 2017-12-31 07601970 d:RetainedEarningsAccumulatedLosses 2016-12-31 07601970 c:FRS102 2017-01-01 2017-12-31 07601970 c:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 07601970 c:FullAccounts 2017-01-01 2017-12-31 07601970 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 07601970 d:Subsidiary1 2017-01-01 2017-12-31 07601970 d:Subsidiary2 2017-01-01 2017-12-31 07601970 d:Subsidiary3 2017-01-01 2017-12-31 07601970 d:Subsidiary4 2017-01-01 2017-12-31 07601970 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-12-31 07601970 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2016-12-31 07601970 d:Subsidiary1 1 2017-01-01 2017-12-31 07601970 d:Subsidiary2 1 2017-01-01 2017-12-31 07601970 d:Subsidiary3 1 2017-01-01 2017-12-31 07601970 d:Subsidiary4 1 2017-01-01 2017-12-31 iso4217:GBP xbrli:pure

Registered number: 07601970

BERTHA UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

BERTHA UK LIMITED

CONTENTS

	Page
Accountants' report	1
Statement of financial position	2 - 3
Notes to the financial statements	4 - 9

BERTHA UK LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BERTHA UK LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bertha UK Limited for the year ended 31 December 2017 which comprise the Profit and loss account, the Statement of financial position and the related notes from the Company accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of directors of Bertha UK Limited, as a body, in accordance with the terms of our engagement letter dated 30 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Bertha UK Limited and state those matters that we have agreed to state to the Board of directors of Bertha UK Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bertha UK Limited and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Bertha UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Bertha UK Limited. You consider that Bertha UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Bertha UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BAGINSKY COHEN

CHARTERED ACCOUNTANTS

930 HIGH ROAD

LONDON

N12 9RT

9 April 2018

Page 1

BERTHA UK LIMITED

REGISTERED NUMBER: 07601970

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

	2017	2017	2016	2016
Note	£	£	£	£

FIXED ASSETS
Tangible assets	4		124,540		99,786
Investments	5		423,514		120,400
			548,054		220,186
CURRENT ASSETS
Debtors	6	2,176,723		1,900,423
Cash at bank and in hand	7	85,390		268,016
		2,262,113		2,168,439
Creditors: amounts falling due within one year	8	(69,579)		(53,542)
NET CURRENT ASSETS			2,192,534		2,114,897
TOTAL ASSETS LESS CURRENT LIABILITIES			2,740,588		2,335,083
Creditors: amounts falling due after more than one year	9		(2,000,000)		(1,700,000)

NET ASSETS			740,588		635,083

CAPITAL AND RESERVES
Called up share capital	100	100
Profit and loss account	740,488	634,983
	740,588	635,083

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions

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BERTHA UK LIMITED

REGISTERED NUMBER: 07601970

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2017

applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2018.

A. TABATZNIK

Director

The notes on pages 4 to 9 form part of these financial statements.

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BERTHA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.ACCOUNTING POLICIES

1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2).

The following principal accounting policies have been applied:

1.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property	-	over the term of the lease
Fixtures and fittings	-	20% straight line
Computer equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

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BERTHA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.ACCOUNTING POLICIES (CONTINUED)

1.4

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

1.5

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

1.7

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

1.8

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.9

PENSIONS

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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

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BERTHA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.ACCOUNTING POLICIES (CONTINUED)

1.10

TAXATION

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

2.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods..

EMPLOYEES

The average monthly number of employees, including directors, during the year was 12 (2016 - 11).

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BERTHA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	TANGIBLE FIXED ASSETS

	S/Term Leasehold Property	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
COST OR VALUATION
At 1 January 2017	-	196,310	13,083	209,393
Additions	56,100	-	14,084	70,184
At 31 December 2017	56,100	196,310	27,167	279,577
DEPRECIATION
At 1 January 2017	-	101,246	8,361	109,607
Charge for the year on owned assets	-	39,262	6,168	45,430
At 31 December 2017	-	140,508	14,529	155,037
NET BOOK VALUE
At 31 December 2017	56,100	55,802	12,638	124,540
At 31 December 2016	-	95,064	4,722	99,786

5.	FIXED ASSET INVESTMENTS

	Investments in subsidiary companies	Unlisted investments	Total
	£	£	£
COST OR VALUATION
At 1 January 2017	400	120,000	120,400
Additions	-	303,114	303,114
At 31 December 2017	400	423,114	423,514

NET BOOK VALUE
At 31 December 2017	400	423,114	423,514
At 31 December 2016	400	120,000	120,400

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BERTHA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

5.FIXED ASSET INVESTMENTS (CONTINUED)

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Country of incorporation	Class of shares	Holding	Principal activity

Bertha DocFactory Ltd	UK	Ordinary	100%	Dormant
Bertha DocHouse Ltd	UK	Ordinary	100%	Daily public screening of documentary films, panel discussions, promotion of art and documentary film making through one-off master classes, courses and mini film festivals.
Doc Vision Ltd	UK	Ordinary	100%	Artistic creation - dormant
Doc House Ltd	UK	Ordinary	100%	Artistic creation - dormant

DEBTORS

					2017	2016
					£	£

DUE AFTER MORE THAN ONE YEAR
Amounts owed by group undertakings	1,880,900	1,719,900
DUE WITHIN ONE YEAR
Trade debtors	23,491	18,061
Other debtors	70,357	34,367
Prepayments and accrued income	201,975	128,095
	2,176,723	1,900,423

7.	CASH AND CASH EQUIVALENTS
		2017	2016
		£	£

	Cash at bank and in hand	85,390	268,016

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BERTHA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2017	2016
		£	£

Trade creditors	27,911	16,068
Other taxation and social security	32,762	26,838
Other creditors	3,006	5,636
Accruals and deferred income	5,900	5,000
	69,579	53,542

9.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2017	2016
		£	£

	Amounts owed to group undertakings	2,000,000	1,700,000

10.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,328 (2016 - £nil). Contributions totalling £nil (2016 - £nil) were payable to the fund at the reporting date and are included in creditors.

11.	CONTROLLING PARTY

The parent company is Bertha Group Holdings Limited, a company incorporated in the British Virgin Islands. The ultimate controlling party is Bertha Foundation, established in Switzerland.

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