BORCHARD CONTAINER TRANSPORT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 9 MONTHS ENDED 31 DECEMBER 2022
Borchard Container Transport Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, Bevis Marks House, 24 Bevis Marks, London, EC3A 7JB.
The principal activity of the company during the year continued to be that of door to door logistics company.
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 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 following principal accounting policies have been applied:
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Borchard Lines Limited as at 31 December 2022 and these financial statements may be obtained from 5th Floor Bevis Marks House, 24 Bevis Marks, London, United Kingdom, EC3A 7JB.
The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
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 is recognised by way of a management charge, receivable from its parent company for services rendered during the financial year in accordance with the service agreement.
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