REGISTERED NUMBER: 00617372 (England and Wales)

BENTON BROS (TRANSPORT) LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

M J Benton

E Benton

SECRETARY:

E Benton

REGISTERED OFFICE:

High Ferry

Sibsey

Boston

Lincolnshire

PE22 0TB

REGISTERED NUMBER:

00617372 (England and Wales)

SENIOR STATUTORY AUDITOR:

Steve Robinson

AUDITORS:

Nicholsons Audit

Newland House

The Point

Weaver Road

Lincoln

Lincolnshire

LN6 3QN

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENT

The results for the year and the financial position of the company at 31 January 2025 are as shown in the annexed financial statements.

Given the non-complex nature of the company and its business, this review is considered to be balanced and comprehensive, having regard to the company. The review also considers any risks or uncertainties faced by the company.

The directors are pleased with the trading results considering the difficulties and uncertainties within the transport industry.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in a challenging economic climate in which the price expectations of our customers have to be balanced against inflationary pressures, particularly in relation to fuel prices. The management of the company's business and the execution of the company's strategies are subject to a number of risks:

- The significant recent volatility and the significance of fuel costs to the business;

- Ongoing market pressure on prices;

- The capital intensive nature of the business;

- The cost of complying with increasing environmental standards.

These risks are addressed by:

- Working closely with our customers to ensure that we understand their needs and continue to offer competitive products and prices;

- Managing and organising new vehicle financing and cash flows such as HP and other rental repayments are covered by future cash flows;

- Introducing the new environmental Euro lorries in a cautious manner so as to minimise any teething costs associated with this relatively new technology.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company uses various financial instruments including cash, overdraft facilities, loans, hire purchase agreements and items such as trade debtors and trade creditors that arise directly from its operations, the main purpose of which is to ensure liquidity for the company's activities. These financial instruments expose the company to a number of financial risks, as set out below along with the means in which the company manages its exposure in these areas.

Interest rate risks

The company has acquired a number of its fixed assets using hire purchase facilities, but at known and competitive interest rates set at the inception of the contracts.

Interest on the bank borrowings are at variable rates. Any interest rate charges are not expected to have a significant impact on the company's results as the bank borrowings do not currently represent a major element of the company's finance.

Liquidity risks

The company manages its financial risk by ensuring it has enough liquidity available to meet its operating and servicing of finance commitments through operating cash flow inflows, hire purchase and bank loan facilities.

Credit risk

The company's main financial assets are cash and trade debtors. The main credit risk is linked to trade debtors. The company's aim is to minimise the risk of doubtful debts through the use of credit rating agencies, trade references and general experience in the industry. A proactive approach to debt collection is adopted with accounts processed regularly for obtaining payments, with collection history and credit limits being reviewed on an ongoing basis.

KEY PERFORMANCE INDICATORS

The directors consider the key performance indicators of the company to be measured by both turnover and operating profit.

Turnover is down on the prior year to £9,384,163 (2024: £10,642,756) however the business has increased its gross profit margin at 8.90% (2024: 7.19%).

The reduction in overheads of the company has enabled a smaller reporting operating loss than in previous years of £154,655 (2024: £340,741).

The directors consider the statement of financial position of the company to be strong despite the drop in net assets of the company. The company remains competitive despite difficult market conditions and the directors hold a positive outlook for the company's future trading.

FUTURE DEVELOPMENTS

The company disposed of its Haulage sector post Balance Sheet including both the staff and equipment. The Directors plan to maintain the Storage and Handling activities and note the company is in a financially strong position to take advantage of any future opportunities that may arise.

ON BEHALF OF THE BOARD:

E Benton - Director

6 October 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of haulage.

DIVIDENDS

Interim dividends totalling £2.30 per share were paid on the Ordinary £1 shares during the year. No dividends were paid on the Class E £1 shares.

The total distribution of dividends for the year ended 31 January 2025 will be £ 23,000 .

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1 February 2024 to the date of this report unless otherwise stated.

Other changes in directors holding office are as follows:

A Bates , J Lilley and L Roper ceased to be directors after 31 January 2025 but prior to the date of this report.

The beneficial interests of the directors holding office at 31 January 2025 in the shares of the company, according to the register of directors' interests, were as follows:

31.1.25

1.2.24

Ordinary shares of £1 each

A Bates

-

-

J Lilley

-

-

L Roper

-

-

M J Benton

10,000

10,000

E Benton

-

-

Class E shares of £1 each

A Bates

-

-

J Lilley

-

-

L Roper

-

-

M J Benton

284,000

284,000

E Benton

-

-

These directors did not hold any non-beneficial interests in any of the shares of the company.

DISCLOSURE IN THE STRATEGIC REPORT

The review of business, future development, principle risks and uncertainties and key performance indicators are all covered in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

E Benton - Director

6 October 2025

Opinion

We have audited the financial statements of Benton Bros (Transport) Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 UK, including the FRC'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.

Conclusions relating to going concern

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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the organisation and determined that the most significant are those that relate to the reporting framework (FRS102), the Companies Act 2006 and the relevant tax compliance.

We understood how the organisation is complying with those frameworks by making enquiries of management and those charged with governance, and we corroborated our enquiries by reviewing board minutes and reviewing third party correspondence, including correspondence with HMRC.

We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur by meeting with management from various parts of the business to understand where they considered there was susceptibility to fraud. We considered the controls that the organisation has established to address risks identified, or that otherwise prevent, deter and detect fraud and also reviewed how these had operated in the year.

Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk along with procedures to identify non-compliance with such laws and regulations identified in the paragraphs above along with areas where management override of controls may be relevant. These procedures included assessing the appropriateness of presentation of separately disclosed items with a focus on manual journals and journals indicating large or unusual transactions based on our understanding of the organisation. These procedures were designed to provide reasonable assurance that the financial statements were free from material fraud or error.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The audit was planned to ensure that the more complex areas were performed by more experienced members of the audit team and there were no areas of the audit which were considered to require external experts to be appointed by the audit team.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 Report of the Auditors.

Use of our 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 a Report of the Auditors 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.

Steve Robinson (Senior Statutory Auditor)

for and on behalf of Nicholsons Audit

Newland House

The Point

Weaver Road

Lincoln

Lincolnshire

LN6 3QN

28 October 2025

TURNOVER

9,384,163

10,642,756

Cost of sales

8,548,991

9,877,237

GROSS PROFIT

835,172

765,519

Administrative expenses

992,802

1,106,260

(157,630

)

(340,741

)

Other operating income

2,975

-

OPERATING LOSS

4

(154,655

)

(340,741

)

Interest receivable and similar income

-

2,529

(154,655

)

(338,212

)

Amounts written off investments

5

(9,689

)

-

(144,966

)

(338,212

)

Interest payable and similar expenses

6

137,459

110,085

LOSS BEFORE TAXATION

(282,425

)

(448,297

)

Tax on loss

7

-

-

LOSS FOR THE FINANCIAL YEAR

(282,425

)

(448,297

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(282,425

)

(448,297

)

FIXED ASSETS

Tangible assets

9

2,859,822

3,599,593

CURRENT ASSETS

Stocks

10

39,868

73,555

Debtors

11

1,645,440

1,929,960

1,685,308

2,003,515

CREDITORS

Amounts falling due within one year

12

2,477,106

2,808,114

NET CURRENT LIABILITIES

(791,798

)

(804,599

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,068,024

2,794,994

CREDITORS

Amounts falling due after more than one year

13

10,912

432,457

NET ASSETS

2,057,112

2,362,537

CAPITAL AND RESERVES

Called up share capital

17

12,840

12,840

Capital redemption reserve

18

4,000

4,000

Retained earnings

18

2,040,272

2,345,697

SHAREHOLDERS' FUNDS

2,057,112

2,362,537

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2025 and were signed on its behalf by:

E Benton - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 February 2023

12,840

2,816,994

4,000

2,833,834

Changes in equity

Dividends

-

(23,000

)

-

(23,000

)

Total comprehensive income

-

(448,297

)

-

(448,297

)

Balance at 31 January 2024

12,840

2,345,697

4,000

2,362,537

Changes in equity

Dividends

-

(23,000

)

-

(23,000

)

Total comprehensive income

-

(282,425

)

-

(282,425

)

Balance at 31 January 2025

12,840

2,040,272

4,000

2,057,112

Cash flows from operating activities

Cash generated from operations

1

895,431

599,437

Interest paid

(49,788

)

(16,440

)

Interest element of hire purchase payments paid

(87,671

)

(93,645

)

Tax paid

-

(26,601

)

Net cash from operating activities

757,972

462,751

Cash flows from investing activities

Purchase of tangible fixed assets

(3,984

)

(503,038

)

Sale of tangible fixed assets

5,180

177,446

Interest received

-

2,530

Net cash from investing activities

1,196

(323,062

)

Cash flows from financing activities

New loans in year

30,000

-

Capital repayments in year

(1,190,230

)

(896,223

)

Amount introduced by directors

23,000

23,000

Amount withdrawn by directors

(39,157

)

(40,100

)

Equity dividends paid

(23,000

)

(23,000

)

Net cash from financing activities

(1,199,387

)

(936,323

)

Decrease in cash and cash equivalents

(440,219

)

(796,634

)

Cash and cash equivalents at beginning of year

2

(451,727

)

344,907

Cash and cash equivalents at end of year

2

(891,946

)

(451,727

)

1.	RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Loss before taxation

(282,425

)

(448,297

)

Depreciation charges

742,141

973,794

Profit on disposal of fixed assets

(3,565

)

(20,529

)

Finance costs

137,459

110,085

Finance income

-

(2,529

)

593,610

612,524

Decrease in stocks

33,687

64,190

Decrease in trade and other debtors

300,676

48,131

Decrease in trade and other creditors

(32,542

)

(125,408

)

Cash generated from operations

895,431

599,437

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Bank overdrafts

(891,946

)

(451,727

)

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

-

344,907

Bank overdrafts

(451,727

)

-

(451,727

)

344,907

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.2.24

Cash flow

At 31.1.25

£

£

£

Net cash

Bank overdrafts

(451,727

)

(440,219

)

(891,946

)

(451,727

)

(440,219

)

(891,946

)

Debt

Finance leases

(1,622,687

)

1,190,230

(432,457

)

Debts falling due within 1 year

-

(30,000

)

(30,000

)

(1,622,687

)

1,160,230

(462,457

)

Total

(2,074,414

)

720,011

(1,354,403

)

1.	STATUTORY INFORMATION

Benton Bros (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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The company makes estimates and assumptions concerning the future. The most significant estimate which could impact the carrying amounts of assets and liabilities within the next financial year is the useful economic lives of tangible assets. The annual depreciation charge for motor vehicles is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are monitored in case a change to depreciation rates is considered necessary.

Turnover

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

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.

Freehold property

-

10% on reducing balance

Garage and sundry equipment

-

12.5% on reducing balance

Motor vehicles

-

25% on reducing balance and 22.5% on reducing balance

Computer equipment

-

Straight line over 4 years

Land is not depreciated.

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 Statement of Comprehensive Income, 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.

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.

Operating leases

Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

Financial instruments

The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

All of the company's basic financial assets and liabilities are short term and are recognised at the transaction price.

The company currently only has basic financial instruments.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,684,216

3,218,067

Social security costs

296,700

354,947

Other pension costs

67,958

82,116

3,048,874

3,655,130

The average number of employees during the year was as follows:

2025

2024

Operatives

60

75

Office staff and management

12

12

72

87

2025

2024

£

£

Directors' remuneration

209,767

209,932

Directors' pension contributions to money purchase schemes

15,369

15,348

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

4

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

50,655

50,708

Pension contributions to money purchase schemes

8,000

7,992

4.	OPERATING LOSS

The operating loss is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

174,730

226,157

Depreciation - assets on hire purchase contracts

567,410

747,639

Profit on disposal of fixed assets

(3,565

)

(20,529

)

Auditors' remuneration

10,500

5,500

Auditors' remuneration for non audit work

5,280

2,958

5.

AMOUNTS WRITTEN OFF INVESTMENTS

2025

2024

£

£

Intercompany loan write off

(9,689

)

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

49,788

16,440

Hire purchase

87,671

93,645

137,459

110,085

7.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 January 2025 nor for the year ended 31 January 2024.

The company has corporation tax losses carried forward of £3,959,752 to use in future years.

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

23,000

23,000