ACCOUNTS - Final Accounts

Registered number: 09165573

MARTIN BENCHER (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

MARTIN BENCHER (UK) LIMITED

Company Information

Director	Mr P T Jensen


Registered number	09165573


Registered office	12th Floor, The Plaza
	100 Old Hall Street
	Liverpool
	England
	L3 9QJ


Independent auditor	Sayers Butterworth LLP
	Chartered Accountants and Statutory Auditor
	3rd Floor
	12 Gough Square
	London
	EC4A 3DW

MARTIN BENCHER (UK) LIMITED

Registered number: 09165573

Balance sheet

As at 31 December 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	486,241		443,836
		486,241		443,836
Creditors: amounts falling due within one year	6	(357,148)		(314,831)
Net current assets			129,093		129,005
Total assets less current liabilities			129,093		129,005

Net assets			129,093		129,005

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		129,092	129,004
		129,093	129,005

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 May 2026.

Mr P T Jensen

Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

MARTIN BENCHER (UK) LIMITED

Notes to the financial statements

For the Year Ended 31 December 2025

1.	General information

Martin Bencher (UK) Limited is a private company, limited by shares and is incorporated in England and Wales. The registered office of the company is 12th Floor, The Plaza, 100 Old Hall Street, Liverpool, England, L3 9QJ.

The company's principal activity is international freight forwarding.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

The going concern basis is not appropriate for the preparation of these financial statements as the company transferred its trade and assets under the Business Transfer Agreement to Maersk Logistics & Services UK Limited in July 2025. As such these financial statements have been prepared on a basis other than that of going concern.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Net turnover is recognised when delivery and risk transfer to the buyer has taken place, and if the income can be determined reliably and is expected to be received.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.5

Creditors

Short-term creditors are measured at the transaction price.

Page 2

MARTIN BENCHER (UK) LIMITED

Notes to the financial statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company 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 Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 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 Company after the deduction of all its liabilities.

Page 3

MARTIN BENCHER (UK) LIMITED

Notes to the financial statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.6

Financial instruments (continued)

Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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.

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 Company 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 Company 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 Company's contractual obligations expire or are discharged or cancelled.

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

MARTIN BENCHER (UK) LIMITED

Notes to the financial statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.7

Foreign currency translation (continued)

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have had to make the following judgments:

∙Determine whether there are any circumstances regarding a customer’s inability to meet its financial obligation and whether a provision is required against the debt. Factors taken into consideration in reaching such a decision are potential prevailing economic conditions in the industry and their potential impact on customers.

Page 5

MARTIN BENCHER (UK) LIMITED

Notes to the financial statements

For the Year Ended 31 December 2025

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Debtors

					2025	2024
					£	£


Trade debtors	19,192	175,583
Amounts owed by group undertakings	467,049	219,122
Other debtors	-	15,487
Prepayments and accrued income	-	33,644
	486,241	443,836

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	-	83,172
Amounts owed to group undertakings	336,988	204,465
Corporation tax	21	-
Other taxation and social security	969	-
Other creditors	-	1,276
Accruals and deferred income	19,170	25,918
	357,148	314,831

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

8.	Related party transactions
	The company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, which are wholly owned subsidiaries.

Page 6

MARTIN BENCHER (UK) LIMITED

Notes to the financial statements

For the Year Ended 31 December 2025

9.	Controlling party

The parent company of the smallest group, of which Martin Bencher (UK) Limited is a member, for which consolidated financial statement are produced is Martin Bencher (Scandinavia) A/S, a company registered in Denmark. The address of the registered office is Vandvejen 7, Level 4, DK-8000 Aarhus C, Denmark.

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:

We draw attention to the 'Going concern' policy in Note 2.2 of the financial statements which explains that the company ceased to trade in 2025 and the directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than that of a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 13 May 2026 by Andrew Burch (Senior statutory auditor) on behalf of Sayers Butterworth LLP.

Page 7