Registered number:
For the Year Ended
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BC Transport 2017 Limited
Company Information
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BC Transport 2017 Limited
Contents
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BC Transport 2017 Limited
Directors' Report
For the Year Ended 31 December 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
The directors are responsible for preparing the Directors' Report and the
financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year
. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙
select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙
make judgements and accounting estimates that are reasonable and prudent;
∙
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £
5,207
(2019 :
profit
£
56,832
)
.
The directors do not recommend payment of a final dividend.
The directors who served during the year were:
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BC Transport 2017 Limited
Directors' Report (continued)
For the Year Ended 31 December 2020
The auditors, Hurst Accountants Limited, will be proposed for reappointment in accordance with
section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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BC Transport 2017 Limited
Independent Auditors' Report to the Members of BC Transport 2017 Limited
We have audited the financial statements of BC Transport 2017 Limited (the 'Company') for the year ended 31 December 2020, which comprise the Statement of Comprehensive Income, the Balance Sheet
and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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BC Transport 2017 Limited
Independent Auditors' Report to the Members of BC Transport 2017 Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙
the Directors' Report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
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BC Transport 2017 Limited
Independent Auditors' Report to the Members of BC Transport 2017 Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identifying and assessing potential risks related to irregularities. In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: • The nature of the industry and sector, control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets. • Enquiring of local management and parent company management, including obtaining and reviewing supporting documentation, concerning the Company's policies and procedures relating to: - Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance. - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected of alleged fraud. - The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. • Discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. • Obtaining an understanding of the legal and regulatory frameworks that the Company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or that had a fundamental effect on the operations of the Company, including General Data Protection requirements, Anti-bribery and corruption policy and the Coronavirus Job Retention Scheme. We have also considered industry specific regulations, such as the Control of Substances Hazardous to Health Regulations (COSHH), Agency Workers Regulations, Manual Handling Operations Regulations and Working Time Regulations. Audit response to risks identified Our procedures to respond to risk identified included the following: • Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; • Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; • Evaluation and testing of the operating effectiveness of management’s controls designed to prevent and detect irregularities; • Enquiring of management concerning actual and potential litigation and claims; • Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
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BC Transport 2017 Limited
Independent Auditors' Report to the Members of BC Transport 2017 Limited (continued)
• Reading minutes of meetings of those charged with governance, reviewing internal audit reports and correspondence with regulators; and
• Carrying out substantive testing to confirm the validity and accuracy of 'furlough' claims. We have also considered the risks noted above in addressing the risk of fraud through management override of controls: • Testing the appropriateness of journal entries and other adjustments. We have reviewed all manual journal entries and tested key outliers identified by timings, key words, and large and unusual amounts. • Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and • Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities
. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body,
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Lancashire Gate
21 Tiviot Dale
Stockport
Cheshire
SK1 1TD
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BC Transport 2017 Limited
Statement of Comprehensive Income
For the Year Ended 31 December 2020
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BC Transport 2017 Limited
Registered number:
05059819
Balance Sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 9 to 13 form part of these financial statements.
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BC Transport 2017 Limited
Notes to the Financial Statements
For the Year Ended 31 December 2020
BC Transport 2017 Limited is a private company limited by members capital, incorporated in England and Wales. The address of the registered office and principal place of business is Unit 18, Adlington Business Park, Adlington, Macclesfield, England, SK10 4NL.
2.
Accounting policies
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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BC Transport 2017 Limited
Notes to the Financial Statements
For the Year Ended 31 December 2020
2.
Accounting policies (continued)
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BC Transport 2017 Limited
Notes to the Financial Statements
For the Year Ended 31 December 2020
2.
Accounting policies (continued)
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BC Transport 2017 Limited
Notes to the Financial Statements
For the Year Ended 31 December 2020
The company is party to a fixed and floating charge over its assets to secure the liabilities of Kinaxia Logistics
Limited and its subsidiaries.
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BC Transport 2017 Limited
Notes to the Financial Statements
For the Year Ended 31 December 2020
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 £nil
(2019: £7,254)
. Contributions totalling £nil
(2019: £nil)
were payable to the fund at the balance sheet date and are included in creditors.
The company's immediate and ultimate parent undertaking is Kinaxia Limited, a company registered in England and Wales, company number 07466536. Kinaxia Limited's registered office is Adlington Business Park, Adlington, Macclesfield, SK10 4NL.
Kinaxia Limited is the parent company for the largest group for which group accounts are prepared. The consolidated financial statements of Kinaxia Limited are available to the public and may be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, C14 3UZ. There is no overall controlling party of Kinaxia Limited.
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