Registered number: 09689473
FOR THE YEAR ENDED 31 DECEMBER 2024
BENX HOLDINGS LIMITED
COMPANY INFORMATION
BENX HOLDINGS LIMITED
CONTENTS
BENX HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present the strategic report for the year ended 31 December 2024.
Benx Holdings is the holding company of the Benx group of companies (the 'group').
The group is a leading UK supplier of rainscreen façade products and systems, fabrication services, external wall insulation systems, renders, and related products to the UK construction industry. The group's principal customers are specialist façade installers, operating in the new build, energy efficiency (refurbishment) and recladding sectors. Its new build customers operate in both the offsite and traditional site-based segments.
The results for the year are set out on page 9.
The group achieved turnover of £35,061,954 (2023: £36,363,866) and recorded profit before taxation of £3,900,905 (2023: £4,846,968).
During the year, group turnover decreased by 3.6% overall, with a slow-down experienced across the portfolio. Group operating margin during the period decreased from 13% in the prior period, to 10.5%, due to a combination of factors but mainly due to the lower turnover at a time of rising costs.
The group continues to invest in developing, testing, certifying and promoting its extensive range of systems and providing a high level of customer service.
During the year, the group continued to strengthen its fabrication capabilities. The directors believe that ongoing investment in value-added fabrication services will allow the group to enhance its offering to customers.
The group remains committed to investing in its staff through training and development.
The directors recognise that demand outlook is challenging, due to macro-economic, geopolitical and regulatory risks. The business environment will remain competitive and input costs and supply chain disruption will continue to present challenges for the foreseeable future. The directors and management are focused on continuous improvement in the group's operational processes, including supply chain security and, where possible, sourcing key material inputs from the UK. The objective is aligned to the group's broader mission to reduce its carbon footprint through a range of measures.
The group is a leading UK supplier of rainscreen façade products and systems, fabrication services, external wall insulation systems, renders, and related products to the UK construction industry. The group's principal customers are specialist façade installers, operating in the new build, energy efficiency (refurbishment) and recladding sectors. Its new build customers operate in both the offsite and traditional site-based segments.
The results for the year are set out on page 9.
The group achieved turnover of £35,061,954 (2023: £36,363,866) and recorded profit before taxation of £3,900,905 (2023: £4,846,968).
During the year, group turnover decreased by 3.6% overall, with a slow-down experienced across the portfolio. Group operating margin during the period decreased from 13% in the prior period, to 10.5%, due to a combination of factors but mainly due to the lower turnover at a time of rising costs.
The group continues to invest in developing, testing, certifying and promoting its extensive range of systems and providing a high level of customer service.
During the year, the group continued to strengthen its fabrication capabilities. The directors believe that ongoing investment in value-added fabrication services will allow the group to enhance its offering to customers.
The group remains committed to investing in its staff through training and development.
The directors recognise that demand outlook is challenging, due to macro-economic, geopolitical and regulatory risks. The business environment will remain competitive and input costs and supply chain disruption will continue to present challenges for the foreseeable future. The directors and management are focused on continuous improvement in the group's operational processes, including supply chain security and, where possible, sourcing key material inputs from the UK. The objective is aligned to the group's broader mission to reduce its carbon footprint through a range of measures.
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BENX HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The group holds ISO50001 Energy Management certification, underlining its commitment to efficient energy management. As part of this commitment, the group is implementing a range of measures to reduce energy consumption and mitigate its carbon footprint.
The company and the group are in a strong financial position and the directors believe the risks identified below are well managed.
The company and the group are in a strong financial position and the directors believe the risks identified below are well managed.
The directors recognise that the group operates in a changing risk environment and reviews the risks to the business on an ongoing basis. The main risk categories are as follows:
These risks are mitigated by a combination of internal processes and controls, resilience planning, management and board oversight, effective communication and timely and accurate management information
The key performance indicators against which the group measures its results are set out below:
This report was approved by the board on 17 September 2025 and signed on its behalf.
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BENX HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group 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 the Group 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The group is a leading UK supplier of rainscreen façade products and systems, fabrication services, external wall insulation (EWI) systems, renders, and related products to the UK construction industry. The company's principal customers are specialist façade installers, operating in the new build, energy efficiency (refurbishment) and recladding sectors. Its new build customers operate in both the offsite and traditional site-based segments.
The profit for the year, after taxation, amounted to £3,064,186 (2023 - £3,736,405).
Ordinary dividends were paid amounting to £1,998,304 (2023 - £1,953,886). The directors do not recommend payment of a further dividend.
The directors who served during the year were:
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BENX HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The group will continue to invest in certification of its systems with a particular focus on innovative measures. The group is also planning to set up a subsidiary in Ireland which will make it easier to support and service our Irish customers.
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 17 September 2025 and signed on its behalf.
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BENX HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BENX HOLDINGS LIMITED
We have audited the financial statements of Benx Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity 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 Group 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 Group's or the parent 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.
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BENX HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BENX HOLDINGS LIMITED (CONTINUED)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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BENX HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BENX HOLDINGS 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 Group 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:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the
Company and determined that the most significant are those that relate to the reporting framework (FRS 102) and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General data Protection Regulation (GDPR).
We understood how the Group and Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.
We assessed the susceptibility of the Group and Company's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding, our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for larger and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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BENX HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BENX HOLDINGS LIMITED (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditors
Drake House
Gadbrook Park
Cheshire
CW9 7RA
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BENX HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
REGISTERED NUMBER: 09689473
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
REGISTERED NUMBER: 09689473
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2025 .
The notes on pages 19 to 39 form part of these financial statements.
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BENX HOLDINGS LIMITED
REGISTERED NUMBER: 09689473
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2025 .
The notes on pages 19 to 39 form part of these financial statements.
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BENX HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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BENX HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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BENX HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Benx Holdings Ltd ("the company") is a private limited company domiciled and incorporated in England and Wales. The registered office is Lonsdale Chambers, Lonsdale Street, Stoke-on-Trent, Staffordshire, ST4 4BT.
The group consists of Benx Holdings Ltd and all of its subsidiaries.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the group and its subsidiaries ("the group") as if they formed a single entity. Intercompany transactions and balances between group companies areeliminated in full.
Following a group reconstruction during 2017 where the equity shareholders (and their relative rights) remained the same, merger accounting has been applied. Therefore, following the combination the carrying values of assets and liabilities of the parties to the combination were not adjusted to fair value.
In the group financial statements all of the group undertakings were treated as if they had always been part of the group. Therefore, the consolidated results and cash flows comprise the results and cash flows of all group companies for both periods presented.
Any difference between the nominal value of shares issued plus the fair value of other consideration andthe nominal value of share received is taken to other reserves in equity
Following a group reconstruction during 2017 where the equity shareholders (and their relative rights) remained the same, merger accounting has been applied. Therefore, following the combination the carrying values of assets and liabilities of the parties to the combination were not adjusted to fair value.
In the group financial statements all of the group undertakings were treated as if they had always been part of the group. Therefore, the consolidated results and cash flows comprise the results and cash flows of all group companies for both periods presented.
Any difference between the nominal value of shares issued plus the fair value of other consideration andthe nominal value of share received is taken to other reserves in equity
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.
Financial liabilities within the scope of IAS 39 are initially classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.
The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value and in the case of loans and borrowings, plus directly attributable transaction costs.
Subsequently, the measurement of financial liabilities depends on their classification as follows:
The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value and in the case of loans and borrowings, plus directly attributable transaction costs.
Subsequently, the measurement of financial liabilities depends on their classification as follows:
After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method.
Gains and losses arising on the repurchase, settlement or otherwise cancellation of liabilities are recognised respectively in finance revenue and finance cost.
Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period or in the period of revision and future periods if the revision affects both the current and future periods.
Key Sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Provision against bad and doubtful amounts receivable
There are specific provisions in respect of bad debts, which are netted against the trade debtors balance. These provisions are based on a calculation using the age profile of the trade debtors balance. The level of the provisions increases with age.
Provisions against slow-moving, obsolete or irrecoverable stock
Stock is reviewed on an ongoing basis and a provision made where the directors are of the opinion that the full cost may not be recoverable. Stock provisions are calculated based on the age of the stock and days since the stock was last used. The resulting provision is netted off the cost of the stock.
Analysis of turnover by country of destination:
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
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BENX HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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