BERENTZEN-GRUPPE AG Berentzen-Gruppe Aktiengesellschaft Annual Financial Statements
2023
Annual Financial Statement 2023
2
Inhalt
3 Combined management report
4 Annual financial statements
4 Balance sheet as at December 31, 2023
6 Income statement for the period from January 1 to December 31, 2023 7 Notes to the Annual Financial Statements for the 2023 Financial Year 7 Recognition and measurement principles
9 Notes to the balance sheet 20 Notes to the income statement
23 Additional information on the annual financial statements 31 Statement of Changes in Non-currentAssets
33 Declarations and other information
33 Declaration by the legal representatives
34 Independent Auditor's Report
42 Information about the publisher
(1) Introduction
About this PDF report
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Annual Financial Statement 2023
3
Combined management report
Annual financial statements
Declarations and other information
A. Combined management report
The management report and the Group management report of Berentzen-Gruppe Aktiengesellschaft have been combined in accordance with Section 315 (5) of the German Commercial Code (HGB) in conjunction with Section 298 (2) HGB and published in the 2023 Annual Report of Berentzen-Gruppe Aktiengesellschaft.
The separate financial statements and management report of Berentzen-Gruppe Aktiengesellschaft for the 2023 financial year, which is combined with the Group management report, will be submitted electronically to the Register of Companies and published.
The separate financial statements of Berentzen-Gruppe Aktiengesellschaft and the Group's Annual Report for the 2023 financial year are also available on Berentzen- Gruppe Aktiengesellschaft's corporate website at www.berentzen-gruppe.de/en.
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Annual Financial Statement 2023
4
Combined management report
Annual financial statements
Balance sheet
Income statement
Notes
Declarations and other information
B. Annual financial statements
Balance sheet as at December 31, 2023
Assets
-
Non-currentassets
I. Intangible assets
Purchased franchises, industrial property rights and similar rights, and licences to such rights
- Property, plant and equipment
- Land, leasehold rights, and buildings, including buildings on land not owned
- Technical equipment and machinery
- Other equipment, plant and office equipment
- Advances to suppliers and construction in progress
- Non-currentfinancial assets
- Shares in affiliated companies
- Loans to affiliated companies
12/31/2023 12/31/2022
EUREUR
462,757.28 412,476.55
462,757.28 412,476.55
8,948,809.50 9,396,651.45
6,445,033.41 6,371,847.06
1,556,411.88 1,445,963.65
2,966,191.84 1,312,814.71
19,916,446.63 18,527,276.87
24,389,200.01 24,559,200.01
900,000.00 900,000.00
25,289,200.01 25,459,200.01
45,668,403.92 44,398,953.43
- Current assets I. Inventories
- Raw materials and supplies
- Work in progress
- Finished products and merchandise for resale
- Receivables and other assets
- Trade receivables
- Amounts receivable from affiliated companies
- Other assets
III. Cash on hand and cash in banks
Back | C. Prepaid expenses |
6,476,530.24 6,936,797.46
23,149,535.57 20,722,398.75
10,814,217.15 12,560,522.43
40,440,282.96 40,219,718.64
925,624.77 397,620.50
29,279,299.53 28,950,303.15
6,897,049.44 7,816,001.38
37,101,973.74 37,163,925.03
2,497,100.57 4,338,320.72
80,039,357.27 81,721,964.39
153,381.61 126,815.94
125,861,142.80 126,247,733.76
Annual Financial Statement 2023
5
Combined management report
Annual financial statements
Balance sheet
Income statement
Notes
Declarations and other information
Back
Shareholders' equity and liabilities
- Shareholders' equity I. Capital in issue
- Subscribed capital
- Face value of own shares II. Additional paid-in capital III. Retained earnings
Other retained earnings
IV. Distributable profit
- Provisions
- Provisions for pensions and similar obligations
- Tax provisions
- Other provisions
- Alcohol tax liabilities
- Liabilities
- Liabilities to banks
- Trade payables
- Amounts payable to affiliated companies
-
Other liabilities
(of which from taxes: EUR 4,569,155.38; previous year: EUR 4,648,163.26)
12/31/2023 12/31/2022
EUREUR
24,423,596.60 24,423,596.60
24,960,000.00 24,960,000.00
-536,403.40-536,403.40
15,815,717.73 15,815,717.73
250,000.00 250,000.00
6,889,582.52 9,930,652.76
47,378,896.85 50,419,967.09
2,089,959.00 1,910,075.00
0.00 55,650.00
7,262,976.74 11,812,486.18
9,352,935.74 13,778,211.18
36,081,004.41 37,604,858.33
9,900,120.59122.01
10,213,657.58 11,428,326.19
8,287,353.90 7,949,838.21
4,647,173.73 5,066,410.75
33,048,305.80 24,444,697.16
125,861,142.80 126,247,733.76
Annual Financial Statement 2023
6
Combined management report
Annual financial statements
Balance sheet
Income statement
Notes
Declarations and other information
Back
Income statement for the period from January 1 to December 31, 2023
2023 | 2022 | ||||
EUR | EUR | ||||
1. | Revenues | 310,430,912.49 | 306,385,773.56 | ||
2. | Alcohol tax | 184,518,774.46 | 186,468,448.40 | ||
3. | Revenues net of alcohol tax | 125,912,138.03 | 119,917,325.16 | ||
4. | Increase in inventories of finished goods and work in progress | 762,379.62 | 4,168,615.28 | ||
5. | Other operating income | 2,012,967.93 | 1,761,532.43 |
6. Purchased goods and services
a) Cost of raw materials and supplies, and merchandise for resale | 77,132,607.00 | 73,589,441.45 | |||
b) Cost of purchased services | 5,432,977.81 | 5,130,304.86 | |||
7. | Personnel expenses | ||||
a) Wages and salaries | 12,888,641.70 | 12,883,874.51 | |||
b) Social security, pension and benefit costs | 2,378,352.79 | 1,978,671.45 | |||
(of which for pensions: EUR 324,201.02; previous year: EUR 38,960.83) | |||||
8. | Depreciation, amortisation and write-downs of intangible assets and property, plant and equipment | 1,906,851.80 | 1,982,150.64 | ||
9. | Other operating expenses | 23,656,693.25 | 23,012,779.52 | ||
10. | Income from participating interests | 1,200,000.00 | 500,000.00 | ||
(of which from affiliated companies: EUR 1,200,000.00; previous year: EUR 500,000.00) | |||||
11. | Income from profit-and-loss transfer agreements | 49,613.36 | 49,078.87 | ||
12. | Income from other securities and loans of non-current financial assets | 50,615.30 | 23,400.75 | ||
(of which from affiliated companies: EUR 50,615.30; previous year: EUR 23,400.75) | |||||
13. | Other interest and similar income | 81,399.74 | 21,421.78 | ||
(of which from affiliated companies: EUR 33,089.45; previous year: EUR 11,890.69) | |||||
(of which income from discounting: EUR 200.00; previous year: EUR 900.00) | |||||
14. | Write-downs on non-current financial assets and securities classified as current assets | 3,120,000.00 | 7,845,000.00 | ||
15. | Expenses from losses absorbed | 1,013,281.82 | 536,549.12 | ||
16. | Interest and similar expenses | 3,271,483.41 | 1,391,585.77 | ||
(of which payable to affiliated companies: EUR 47,149.61; previous year: EUR 44,376.98) | |||||
(of which expenses from compounding: EUR 33,696.00; previous year: EUR 38,959.15) | |||||
17. | Income taxes | 194,096.90 | 481,180.07 | ||
(of which deferred taxes: EUR 0.00; previous year: EUR -709,300.00) | |||||
18. | Profit after taxes | -925,872.50 | -2,390,163.12 | ||
19. | Other taxes | 48,585.72 | 47,365.49 | ||
20. | Net profit/loss for the year | -974,458.22 | -2,437,528.61 | ||
21. | Profit carried forward from previous year | 7,864,040.74 | 12,368,181.37 | ||
22. | Distributable profit | 6,889,582.52 | 9,930,652.76 |
Annual Financial Statement 2023
7
Combined management report
Annual financial statements
Balance sheet
Income statement
Notes
Declarations and other information
Back
Notes to the Annual Financial Statements for the 2023 Financial Year
(1) Recognition and measurement principles
Berentzen-Gruppe Aktiengesellschaft, Haselünne, is a stock corporation (Aktiengesellschaft) organised under German law. The Company's head office is in Haselünne, Ritterstraße 7, 49740 Haselünne, Germany, and the Company is registered in the Commercial Register of the Osnabrück Local Court (record HRB 120444).
The annual financial statements have been prepared in accordance with the accounting and valuation principles applicable for large corporations under commercial law and the supplementary provisions of the German Stock Corporation Act (Aktiengesetz; AktG).
The Income Statement has been prepared in accordance with the cost summary format pursuant to Section 275 (2) HGB.
The additions made to the legally prescribed structure of the Statement of Financial Position and the Income Statement under Section 265 (5) sentence 2 HGB - notably including the separate presentation of alcohol tax - relate to the commercial activities of Berentzen-Gruppe Aktiengesellschaft and serve to present a better view of the Company's financial position, cash flows and financial performance.
The same accounting and valuation methods have been applied as in the previous year.
Intangible assets, which are comprised almost entirely of licences, are carried at acquisition cost less scheduled amortisation. The licences are amortised on a straight-line basis over a customary useful life of four to five years.
The items included in property, plant and equipment are carried at acquisition or production cost less scheduled depreciation, where they are depreciable. The depreciation is taken using the straight-line method based on the standard useful life (5 - 57 years). Low value assets have been recorded in a collective item and written down on a straight-line basis over a period of five years, in accordance with the statutory provisions.
Non-current financial assets such as shares in affiliated companies and loans to affiliated companies are carried at acquisition cost or repayment amount. Write- downs are recognised in accordance with Section 253 (3) sentences 5 and 6 HGB. The impairment test performed for the shares in affiliated companies in the form of a discounted cash flow method is based on a medium-term plan with estimation uncertainties that was adopted and approved by the Supervisory Board.
Raw materials and supplies and merchandise for resale, are carried at average acquisition cost. Where the current market values are lower at the reporting date, these are recognised.
Work in progress and finished products are carried at the production cost to be recognised at a minimum under commercial law, meaning with direct input costs plus appropriate add-ons for indirect input costs. The principle of loss-free valuation is observed by applying discounts to the selling prices for costs still to accrue.
Receivables and other assets are stated at the lower of face value or fair value. Specific provisions for anticipated uncollectibility and general provisions to cover general credit risk are deducted from the receivables in the Statement of Financial Position. Receivables with credit insurance, receivables for which guarantees have been provided and the value added tax contained in these amounts are deducted when identifying the stock of receivables exposed to risk.
Annual Financial Statement 2023
8
Combined management report
Annual financial statements
Balance sheet
Income statement
Notes
Declarations and other information
Back
Cash and cash equivalents are stated at face value.
Prepaid expenses include amounts disbursed prior to the reporting date that represent expenses for a certain period after the reporting date.
Subscribed capital is carried at face value. In accordance with Section 272 (1a) HGB, the imputed nominal value of treasury shares (own shares) is openly deducted from subscribed capital. The difference between the imputed nominal value and the acquisition cost of treasury shares is recognised within the distributable profit. Incidental acquisition costs incurred are recognised in profit or loss.
The provisions for pensions and similar obligations are determined using the projected unit credit (PUC) method in accordance with the generally accepted actuarial principles. The calculations are based on the 2018 G standard tables prepared by Professor Klaus Heubeck, an increase in pensions of 2.0%, and a rate of change of 0% for anticipated fluctuation and salary movements. Use has been made of the option permitted by Section 253 (2) sentence 2 HGB. The amounts are discounted using the average market rate of 1.83% announced by Deutsche Bundesbank for an assumed residual maturity of 15 years.
Provisions for service anniversary awards are funded taking into account a general employer contribution to social security of 20% in line with the employee's present length of service and discounted using a rate of 1.75%. The figures calculated are similarly based on reports using a fluctuation rate of 5% and the 2018 G standard tables prepared by Professor Dr. Klaus Heubeck as the biometric basis of calculation based on the projected unit credit (PUC) method in accordance with generally accepted actuarial principles.
Tax and other provisions are set up to cover all uncertain liabilities and identifiable risks and carried at the amount anticipated to be payable under sound commercial judgement.
Provisions for share-based compensation are measured at fair value using corresponding multivariate Black-Scholes models with Monte Carlo simulations.
The measurement of provisions for legal disputes depends on estimates to a considerable degree. Legal disputes often involve complex legal questions and are fraught with considerable uncertainties. Accordingly, the determination at the reporting date of whether a current obligation probably results from a past event, whether a future outflow of economic resources is probable, and whether the amount of such obligation can be estimated reliably necessarily entails a considerable degree of discretion.
Derivative financial instruments are carried at fair value.
Alcohol tax and import duties are recognised as liabilities in the amounts owed to the main customs offices and presented in a separate item added to the legally prescribed structure.
Liabilities are stated at the settlement amount.
Deferred income comprises amounts received prior to the reporting date that represent income for a specific period after the reporting date.
Deferred tax assets and liabilities are determined in accordance with Section 274 HGB, under which probable tax savings and charges arising in the future are recognised for temporary differences between the book values carried in the annual financial statements of Berentzen-Gruppe Aktiengesellschaft prepared in accordance with German commercial law and the amounts recognised for assets
Annual Financial Statement 2023
9
Combined management report
Annual financial statements
Balance sheet
Income statement
and liabilities for tax purposes. In this context, any such temporary differences accruing in the Group companies of Berentzen-Gruppe Aktiengesellschaft for income tax purposes are recognised by the parent company. The same principle applies for such temporary differences accruing at unincorporated firms in which Berentzen-Gruppe Aktiengesellschaft holds an equity interest, although the valuation is normally limited to deferred corporation taxes including the solidarity surcharge. Anticipated tax savings arising from the use of loss carry-forwards considered realisable in the future are included, provided this does not yield an excess of deferred tax assets. When exercising the capitalisation option permitted in Section 274 (1) sentence 2 HGB, deferred tax assets arising from deductible temporary differences and tax loss carry-forwards in excess of the deferred tax liabilities arising from taxable temporary differences are not capitalised.
(2) Notes to the balance sheet
(2.1) Non-current assets
The development of non-current assets over the financial year is presented separately in the Statement of Changes in Non-current Assets presented in an annex to the notes.
Loans to subsidiaries of Berentzen-Gruppe Aktiengesellschaft are shown under Loans to affiliated companies (EUR 900 thousand; previous year: EUR 900 thousand).
Notes
Declarations and other information
The amounts of the tax savings and charges accruing are calculated using the tax rate applicable to the specific company when the differences reverse and are not discounted.
Deferred tax assets and liabilities are netted within the Company and within the group of companies for income tax purposes. Use has not been made of the option to recognise deferred tax assets and liabilities that have not been netted in the Statement of Financial Position compliant with Section 274 (1) sentence 3 HGB.
Receivables and liabilities denominated in foreign currency are translated using the exchange rate applicable at the closing date (average spot exchange rate).
(2.2) Receivables and other assets
The total sum of trade receivables is reduced by EUR 15,951 thousand (previous year: EUR 23,402 thousand) under the terms of factoring agreements. The receivables were sold to factoring companies on a non-recourse basis. Specific allowances in the amount of EUR 8 thousand (previous year: EUR 12 thousand) were recognised on the trade receivables not sold to factoring companies in the 2023 financial year.
The amounts receivable from affiliated companies originate from the ongoing clearing and settlement transactions involving subsidiaries.
The following table shows the breakdown of other assets:
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Annual Financial Statement 2023
10
Combined management report
Annual financial statements
Balance sheet
Income statement
Notes
Declarations and other information
12/31/2023 | 12/31/2022 | |||
EUR'000 | EUR'000 | |||
Receivables from factoring haircut | 4,395 | 6,493 | ||
Tax refund claims | 1,991 | 989 | ||
Reimbursement claims | 203 | 115 | ||
Creditors with debit balances | 179 | 65 | ||
Loss compensation claims | 35 | 57 | ||
Refund claims from ecology tax | 27 | 34 | ||
Other | 67 | 63 | ||
6,897 | 7,816 |
Trade receivables
Amounts receivable from affiliated companies
Other assets
Trade receivables
Amounts receivable from affiliated companies
Other assets
The following table shows the residual maturities of the receivables and other assets:
of which due in | |||||
12/31/2023 | Up to 1 year | More than 1 year | |||
EUR'000 | EUR'000 | EUR'000 | |||
926 | 926 | 0 | |||
29,279 | 29,279 | 0 | |||
6,897 | 6,897 | 0 | |||
37,102 | 37,102 | 0 | |||
of which due in | |||||
12/31/2022 | Up to 1 year | More than 1 year | |||
EUR'000 | EUR'000 | EUR'000 | |||
398 | 398 | 0 | |||
28,950 | 28,950 | 0 | |||
7,816 | 7,816 | 0 | |||
37,164 | 37,164 | 0 |
There were receivables denominated in foreign currency with a value of EUR 13 (2.3) Cash on hand and cash in banks
thousand (previous year: EUR 7 thousand) at the reporting date.
Back
The item of cash on hand and cash in banks comprises current accounts with banks that are used for settlement of two factoring agreements. These current accounts hold the available cash under these factoring arrangements at any given
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Berentzen-Gruppe AG published this content on 26 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2024 15:43:05 UTC.
