IRIS Accounts Production v24.1.9.2 03835469 director 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038354692023-03-31038354692024-03-31038354692023-04-012024-03-31038354692022-03-31038354692022-04-012023-03-31038354692023-03-3103835469ns15:EnglandWales2023-04-012024-03-3103835469ns14:PoundSterling2023-04-012024-03-3103835469ns10:Director12023-04-012024-03-3103835469ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103835469ns10:SmallEntities2023-04-012024-03-3103835469ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103835469ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103835469ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103835469ns10:FullAccounts2023-04-012024-03-310383546912023-04-012024-03-3103835469ns10:CompanySecretary12023-04-012024-03-3103835469ns10:RegisteredOffice2023-04-012024-03-3103835469ns5:CurrentFinancialInstruments2024-03-3103835469ns5:CurrentFinancialInstruments2023-03-3103835469ns5:Non-currentFinancialInstruments2024-03-3103835469ns5:Non-currentFinancialInstruments2023-03-3103835469ns5:ShareCapital2024-03-3103835469ns5:ShareCapital2023-03-3103835469ns5:RevaluationReserve2024-03-3103835469ns5:RevaluationReserve2023-03-3103835469ns5:RetainedEarningsAccumulatedLosses2024-03-3103835469ns5:RetainedEarningsAccumulatedLosses2023-03-3103835469ns5:NetGoodwill2023-04-012024-03-3103835469ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103835469ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3103835469ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3103835469ns5:LeaseholdImprovements2023-04-012024-03-3103835469ns5:PlantMachinery2023-04-012024-03-3103835469ns5:FurnitureFittings2023-04-012024-03-3103835469ns5:MotorVehicles2023-04-012024-03-3103835469ns5:NetGoodwill2023-03-3103835469ns5:NetGoodwill2024-03-3103835469ns5:NetGoodwill2023-03-3103835469ns5:LandBuildings2023-03-3103835469ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3103835469ns5:LeaseholdImprovements2023-03-3103835469ns5:LandBuildings2023-04-012024-03-3103835469ns5:LandBuildings2024-03-3103835469ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-3103835469ns5:LeaseholdImprovements2024-03-3103835469ns5:LandBuildings2023-03-3103835469ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3103835469ns5:LeaseholdImprovements2023-03-3103835469ns5:PlantMachinery2023-03-3103835469ns5:FurnitureFittings2023-03-3103835469ns5:MotorVehicles2023-03-3103835469ns5:PlantMachinery2024-03-3103835469ns5:FurnitureFittings2024-03-3103835469ns5:MotorVehicles2024-03-3103835469ns5:PlantMachinery2023-03-3103835469ns5:FurnitureFittings2023-03-3103835469ns5:MotorVehicles2023-03-3103835469ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-03-3103835469ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3103835469ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2024-03-3103835469ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-03-3103835469ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103835469ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103835469ns5:Secured2024-03-3103835469ns5:Secured2023-03-3103835469ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 03835469 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

STEVE BENTON TRANSPORT LIMITED

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEVE BENTON TRANSPORT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S F Benton





SECRETARY: H R Benton





REGISTERED OFFICE: Bannerley Road
Garretts Green Industrial Estate
Birmingham
B33 0SL





REGISTERED NUMBER: 03835469 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 200,000 600,000
Tangible assets 5 2,711,863 3,152,876
2,911,863 3,752,876

CURRENT ASSETS
Stocks 241,053 386,434
Debtors 6 597,664 853,343
Cash at bank 275,916 959,817
1,114,633 2,199,594
CREDITORS
Amounts falling due within one year 7 1,772,282 2,170,701
NET CURRENT (LIABILITIES)/ASSETS (657,649 ) 28,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,254,214

3,781,769

CREDITORS
Amounts falling due after more than one
year

8

(811,121

)

(1,332,554

)

PROVISIONS FOR LIABILITIES (677,163 ) (787,365 )
NET ASSETS 765,930 1,661,850

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 237,705 258,197
Retained earnings 528,125 1,403,553
SHAREHOLDERS' FUNDS 765,930 1,661,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2024 and were signed by:





S F Benton - Director


STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Steve Benton Transport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold property - Over the term of the lease
Leasehold property improvement - Over the term of the lease
Trucks, lorries and trailers - at variable rates on reducing balance
Equipment - 15% on reducing balance
Office furniture and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 4,000,000
AMORTISATION
At 1 April 2023 3,400,000
Charge for year 400,000
At 31 March 2024 3,800,000
NET BOOK VALUE
At 31 March 2024 200,000
At 31 March 2023 600,000

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Trucks,
Leasehold lorries
Leasehold property and
property improvement trailers
£    £    £   
COST OR VALUATION
At 1 April 2023 400,000 95,643 4,710,339
Additions - - 476,110
Disposals - - (646,891 )
At 31 March 2024 400,000 95,643 4,539,558
DEPRECIATION
At 1 April 2023 55,738 16,259 2,048,626
Charge for year 6,557 1,913 449,892
Eliminated on disposal - - (198,425 )
At 31 March 2024 62,295 18,172 2,300,093
NET BOOK VALUE
At 31 March 2024 337,705 77,471 2,239,465
At 31 March 2023 344,262 79,384 2,661,713

Office
furniture
and Motor
Equipment fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 99,323 27,049 11,465 5,343,819
Additions - - - 476,110
Disposals - - - (646,891 )
At 31 March 2024 99,323 27,049 11,465 5,173,038
DEPRECIATION
At 1 April 2023 41,352 19,710 9,258 2,190,943
Charge for year 8,696 1,102 497 468,657
Eliminated on disposal - - - (198,425 )
At 31 March 2024 50,048 20,812 9,755 2,461,175
NET BOOK VALUE
At 31 March 2024 49,275 6,237 1,710 2,711,863
At 31 March 2023 57,971 7,339 2,207 3,152,876

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Trucks,
Leasehold lorries
Leasehold property and
property improvement trailers
£    £    £   
Valuation in 2015 400,000 - -
Cost - 95,643 4,539,558
400,000 95,643 4,539,558

Office
furniture
and Motor
Equipment fittings vehicles Totals
£    £    £    £   
Valuation in 2015 - - - 400,000
Cost 99,323 27,049 11,465 4,773,038
99,323 27,049 11,465 5,173,038

Leasehold property was valued on an open market basis on 21 January 2016 by Fisher German LLP .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Trucks,
lorries
and
trailers
£   
COST OR VALUATION
At 1 April 2023 4,576,891
Additions 476,110
Disposals (646,891 )
At 31 March 2024 4,406,110
DEPRECIATION
At 1 April 2023 1,965,587
Charge for year 443,600
Eliminated on disposal (198,425 )
At 31 March 2024 2,210,762
NET BOOK VALUE
At 31 March 2024 2,195,348
At 31 March 2023 2,611,304

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 493,376 779,441
Other debtors 104,288 73,902
597,664 853,343

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 271,396 346,990
Hire purchase contracts 622,985 621,804
Trade creditors 296,426 440,886
Taxation and social security 385,450 538,999
Other creditors 196,025 222,022
1,772,282 2,170,701

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 752,756 1,172,633
Other creditors 58,365 159,921
811,121 1,332,554

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loans < 1 yr 162,882 277,856
Hire purchase contracts 1,375,741 1,794,437
1,538,623 2,072,293

Bank loans hold a charge over the assets of the company.

Hire purchase contracts hold a charge over the assets to which they relate.

Natwest Bank PLC hold a charge dated 9 February 2016 over the property of the company and a charge dated 19 February 2016 over land owned by the company.

STEVE BENTON TRANSPORT LIMITED (REGISTERED NUMBER: 03835469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 258,197
Transfer excess depreciation
on revaluation (13,116 )
Deferred tax on revaluation (7,376 )

At 31 March 2024 237,705

Revaluation reserves are those that have arisen on the revaluation of the leasehold property, less any transfers for excess depreciation and deferred tax.