BONDS_TECHNICAL_COURIERS_ - Accounts
BONDS_TECHNICAL_COURIERS_ - Accounts
Bonds Technical Couriers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, The Gateway Estate, West Midlands Freeport, Birmingham, West Midlands, B26 3QD.
The reporting period has been extended from 30 September to 31 December to be in line with the year end of the ultimate parent entity. Comparative figures presented in the financial statements are not entirely comparable.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of persons employed by the company during the Period was:
On 1 July 2022 the company was acquired by the Elanders AB Group. As at 31 December 2022 the immediate controlling company is Bonds Worldwide Holdings Limited, a company incorporated in the United Kingdom.
The ultimate controlling company is Elanders AB Group, a company incorporated in Sweden. Their registered office is Designvägen 2, P.O. Box 137, 435 23 Mölnycke, Sweden. Elanders AB Group is the smallest and largest group of which the Company is a member and for which consolidated financial statements are prepared. Copies of the consolidated financial statements of Elanders AB Group are available from their registered address.