Registered number: 04805311
CONSOLIDATED
FOR THE YEAR ENDED 31 DECEMBER 2025
L BENNETT & SON HOLDINGS LIMITED
COMPANY INFORMATION
L BENNETT & SON HOLDINGS LIMITED
CONTENTS
L BENNETT & SON HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The company acts as a holding company for its subsidiary and manages properties.
The subsidiary sells motor accessories and parts to the general public and other traders.
The subsidiary sells motor accessories and parts to the general public and other traders.
The directors are pleased with the current year’s trading results.
The subsidiary was able to successfully launch several new branches and the directors continue to search for new locations to facilitate further expansion.
The subsidiary was able to successfully launch several new branches and the directors continue to search for new locations to facilitate further expansion.
The principal risks associated with the group's trade are anticipation of consumer demands throughout the
year and the related levels of stocks to hold, availability of adequate finance, the state of the general economy
and business confidence.
The directors acknowledge the importance of maintaining close relationships with key customers in order to be
able to identify the early signs of potential financial difficulties. Sales and stock trends are constantly reviewed to enable early action to be taken in the event of sales declining and stock orders deteriorating.
Treasury Operations And Financial Instruments
The company's principal financial instruments include bank accounts, bank loans and other financing facilities to raise finance for the group's operations. In addition, the group has various other financial assets and
liabilities such as trade debtors and trade creditors arising directly from operations.
Liquidity Risk
The group manages its cash requirements in order to minimise interest expense, whilst ensuring the
group has sufficient liquid resources to meet the operational needs of the business.
Credit Risk
Borrowings are made through the banks and companies which must fulfil credit rating criteria approved by the
board. The group uses a debt factoring facility for managing its cashflow.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are
reviewed on a regular basis and provision is made for doubtful debts when necessary.
Price Risk
Expenditure incurred by the group is authorised prior to it being made by the management in order to ensure that goods and services are not obtained at a higher price than necessary.
year and the related levels of stocks to hold, availability of adequate finance, the state of the general economy
and business confidence.
The directors acknowledge the importance of maintaining close relationships with key customers in order to be
able to identify the early signs of potential financial difficulties. Sales and stock trends are constantly reviewed to enable early action to be taken in the event of sales declining and stock orders deteriorating.
Treasury Operations And Financial Instruments
The company's principal financial instruments include bank accounts, bank loans and other financing facilities to raise finance for the group's operations. In addition, the group has various other financial assets and
liabilities such as trade debtors and trade creditors arising directly from operations.
Liquidity Risk
The group manages its cash requirements in order to minimise interest expense, whilst ensuring the
group has sufficient liquid resources to meet the operational needs of the business.
Credit Risk
Borrowings are made through the banks and companies which must fulfil credit rating criteria approved by the
board. The group uses a debt factoring facility for managing its cashflow.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are
reviewed on a regular basis and provision is made for doubtful debts when necessary.
Price Risk
Expenditure incurred by the group is authorised prior to it being made by the management in order to ensure that goods and services are not obtained at a higher price than necessary.
The group's key performance indicators are turnover, gross profit, gross profit percentage, stock levels and funding availabilities.
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L BENNETT & SON HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
In accordance with section 172 of the Companies Act 2006, the Directors confirm that they have acted in a way they consider, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In doing so, they have had regard to (among other matters):
Long-Term Consequences of Decisions
The Board considers the long-term implications of all significant business decisions. During the year, the company made strategic investments in improved computer software and environmental improvements aimed at securing the company's resilience and relevance in the market over the coming years.
Employee Interests
The company recognises employees as key to its success. The company actively engages with employees through regular team meetings, anonymous surveys, and internal communications with key partners and has implemented feedback mechanisms to monitor service levels and satisfaction. Ethical sourcing policies and fair payment terms are also in place.
Business Relationships with Suppliers and Customers
The company believe strong relationships with their suppliers and customers underpin their long-term success. The company maintains open lines of communication with key partners and has implemented feedback mechanisms to monitor service levels and satisfaction. Ethical sourcing policies and fair payment terms are also in place.
Community and Environment
Environmental sustainability and community involvement are integral to the company operations. This year, the company reduced their carbon footprint by insert specific initiatives, e.g. transitioning to renewable energy sources, reducing travel and increasing recycling. The company also supported local projects such as educational initiatives, local sponsorships, or volunteering schemes.
Long-Term Consequences of Decisions
The Board considers the long-term implications of all significant business decisions. During the year, the company made strategic investments in improved computer software and environmental improvements aimed at securing the company's resilience and relevance in the market over the coming years.
Employee Interests
The company recognises employees as key to its success. The company actively engages with employees through regular team meetings, anonymous surveys, and internal communications with key partners and has implemented feedback mechanisms to monitor service levels and satisfaction. Ethical sourcing policies and fair payment terms are also in place.
Business Relationships with Suppliers and Customers
The company believe strong relationships with their suppliers and customers underpin their long-term success. The company maintains open lines of communication with key partners and has implemented feedback mechanisms to monitor service levels and satisfaction. Ethical sourcing policies and fair payment terms are also in place.
Community and Environment
Environmental sustainability and community involvement are integral to the company operations. This year, the company reduced their carbon footprint by insert specific initiatives, e.g. transitioning to renewable energy sources, reducing travel and increasing recycling. The company also supported local projects such as educational initiatives, local sponsorships, or volunteering schemes.
This report was approved by the board on 24 August 2026 and signed on its behalf.
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L BENNETT & SON HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The principal activity of the subsidiary company, L Bennett & Son Limited, continued to be that of the sale of motor accessories and parts to the general public and other traders.
The profit for the year, after taxation, amounted to £4,646,565 (2024 - £4,890,283).
During the year, an interim dividend of £3,200,000 (2024 - £1,550,000) was paid. The directors do not recommend the payment of a final dividend.
The directors who served during the year were:
The Directors place high importance on engaging with all key stakeholders:
Employees: We have embedded a culture of transparency and inclusion. Communication channels such as internal newsletters, performance reviews, and wellbeing check-ins are regularly used to foster engagement. We also launched professional development plans or health & wellbeing benefits during the year.
Customers: Customer satisfaction is tracked via surveys and direct feedback. Customer service enhancements and tailored product offerings reflect our commitment to meeting evolving expectations.
Suppliers; Strategic supplier relatiobships are managed through consistent communication and partnership reviews. We uphold a policy of responsible sourcing and fair dealing in all contracts.
Policy in Relation to Disabled Employees
The company is committed to providing equal opportunities for all employees, including those with disabilities. Our policy is to:
• Ensure recruitment processes are accessible and free from discrimination.
• Make reasonable adjustments to accommodate the needs of disabled employees.
• Promote training and development opportunities equally.
• Maintain an inclusive workplace culture that supports the wellbeing of all staff.
Where an employee becomes disabled during employment, the company takes all reasonable steps to ensure continued employment, including retraining or adjusting the role where appropriate.
Employees: We have embedded a culture of transparency and inclusion. Communication channels such as internal newsletters, performance reviews, and wellbeing check-ins are regularly used to foster engagement. We also launched professional development plans or health & wellbeing benefits during the year.
Customers: Customer satisfaction is tracked via surveys and direct feedback. Customer service enhancements and tailored product offerings reflect our commitment to meeting evolving expectations.
Suppliers; Strategic supplier relatiobships are managed through consistent communication and partnership reviews. We uphold a policy of responsible sourcing and fair dealing in all contracts.
Policy in Relation to Disabled Employees
The company is committed to providing equal opportunities for all employees, including those with disabilities. Our policy is to:
• Ensure recruitment processes are accessible and free from discrimination.
• Make reasonable adjustments to accommodate the needs of disabled employees.
• Promote training and development opportunities equally.
• Maintain an inclusive workplace culture that supports the wellbeing of all staff.
Where an employee becomes disabled during employment, the company takes all reasonable steps to ensure continued employment, including retraining or adjusting the role where appropriate.
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L BENNETT & SON HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The following table gives our gross emissions and intensity ratios:
Energy Consumption KWH CO2 Emissions (Tons of CO2) TCO2 Per £1m Turnover
Energy Consumption KWH CO2 Emissions (Tons of CO2) TCO2 Per £1m Turnover
Scope 1: Direct emissions – GHG from the company’s owned buildings/assets – such as gas or fuel where the company has direct control over its purchase and consumption.
Scope 2: Indirect e.g., GHG emissions from other organisations that produced the electricity, district heat, steam, or cooling that the company bought to use but has little or no control over.
Scope 3: Electricity transmission and distribution.
The data has been compiled from spreadsheets, invoice data, inspection reports, meter reads, extrapolation of electricity and gas bills, and fuel card data. The operation in the UK operates from 54 UK sites.
The scope 3 data reported (electricity transmission and distribution) has been calculated using DEFRA conversion factors methods. Battery electric vehicle charging data is included in Scope 2 electricity data because it is not currently possible to extract this.
Methodology
Guidance followed in the production of this report have been the Greenhouse Gas Protocol with observations from ISO 14064. Relevant government conversion factors have been used throughout.
5 principles are observed during the production of this report:
1. Consistent methodologies have been used to allow for meaningful comparisons of environmental impact data over time.
2. Data has been recorded in CO2e (greenhouse gas emissions) utilising government conversion factors.
3. Any changes to the data, changes in the organisational boundary, methods, or any other relevant factors are to be documented following this baseline.
4. Environmental impacts – the report assesses energy consumption and associated emissions.
5. Change in baseline year – any significant changes to operations that affect baseline emissions are noted, with adjustments made as appropriate.
Scope 2: Indirect e.g., GHG emissions from other organisations that produced the electricity, district heat, steam, or cooling that the company bought to use but has little or no control over.
Scope 3: Electricity transmission and distribution.
The data has been compiled from spreadsheets, invoice data, inspection reports, meter reads, extrapolation of electricity and gas bills, and fuel card data. The operation in the UK operates from 54 UK sites.
The scope 3 data reported (electricity transmission and distribution) has been calculated using DEFRA conversion factors methods. Battery electric vehicle charging data is included in Scope 2 electricity data because it is not currently possible to extract this.
Methodology
Guidance followed in the production of this report have been the Greenhouse Gas Protocol with observations from ISO 14064. Relevant government conversion factors have been used throughout.
5 principles are observed during the production of this report:
1. Consistent methodologies have been used to allow for meaningful comparisons of environmental impact data over time.
2. Data has been recorded in CO2e (greenhouse gas emissions) utilising government conversion factors.
3. Any changes to the data, changes in the organisational boundary, methods, or any other relevant factors are to be documented following this baseline.
4. Environmental impacts – the report assesses energy consumption and associated emissions.
5. Change in baseline year – any significant changes to operations that affect baseline emissions are noted, with adjustments made as appropriate.
Target reduction
L Bennett & Son Holding has begun implementing a structured programme of energy efficiency improvements across its operational facilities. These measures are aimed at reducing energy consumption, improving building performance, and identifying opportunities for renewable energy integration.
L Bennett & Son Holding has begun implementing a structured programme of energy efficiency improvements across its operational facilities. These measures are aimed at reducing energy consumption, improving building performance, and identifying opportunities for renewable energy integration.
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L BENNETT & SON HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
L Bennett & Son Holding has committed to achieving net zero carbon across all operational scopes by 2050. The Company is developing measurable near-term and medium-term targets based on opportunities identified in the ESOS Phase 3 report. These interim milestones will be formalised as individual projects are implemented and their impacts quantified.
Initial opportunities for carbon and energy reduction include:
- Capital investment in energy-efficient equipment and building upgrades including LED across most sites
- Behaviour changes initiatives and staff energy awareness training
- Optimisation of logistics and transport planning
- Capital investment in integration of on-site renewable energy sources
- Capital investment in battery electric transport vehicles
- Capital investment in electric vehicle charging points
- Improved operational controls and energy management practices
Energy Efficiency
L Bennett & Son Holdings Limited has seen an improvement in their energy efficiency through actions and has invested to improve operations at their sites. Measures include but are not limited to:
• Installation of LED lighting across their estate buildings
• Installation of Solar PV at their Welwyn Garden City site
• Installation of electric vehicle charging points at several of their sites
• Procurement of commercial battery electric vans
Initial opportunities for carbon and energy reduction include:
- Capital investment in energy-efficient equipment and building upgrades including LED across most sites
- Behaviour changes initiatives and staff energy awareness training
- Optimisation of logistics and transport planning
- Capital investment in integration of on-site renewable energy sources
- Capital investment in battery electric transport vehicles
- Capital investment in electric vehicle charging points
- Improved operational controls and energy management practices
Energy Efficiency
L Bennett & Son Holdings Limited has seen an improvement in their energy efficiency through actions and has invested to improve operations at their sites. Measures include but are not limited to:
• Installation of LED lighting across their estate buildings
• Installation of Solar PV at their Welwyn Garden City site
• Installation of electric vehicle charging points at several of their sites
• Procurement of commercial battery electric vans
The auditors, Haslers Assurance LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 24 August 2026 and signed on its behalf.
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L BENNETT & SON HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
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.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.
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 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 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.
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L BENNETT & SON HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF L BENNETT & SON HOLDINGS LIMITED
We have audited the financial statements of L Bennett & Son Holdings Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Analysis of Net Debt, 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).
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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L BENNETT & SON HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF L BENNETT & SON 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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L BENNETT & SON HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF L BENNETT & SON 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:
Based on our understanding of the legal and regulatory frameworks that are applicable to the entity we have considered those that have a direct and indirect material impact on the financial statements and operations of the company. These include but are not limited to the Companies Act 2006, GDPR, Employment and Health & Safety legislation and tax legislation.
We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of documentation generated and assessing the extent of compliance with the relevant laws and regulations.
We discussed among the audit engagement team regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
As a result of performing the above, we identified the greatest potential for material misstatements due to fraud are in the following areas, and our specific procedures performed to address these are described below:
The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to the existence of inappropriate journal entries to impact the profit for the year and management bias in accounting estimates.
Procedures performed to address these were as follows:
• Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud, including known or suspected instances of non-compliance with laws and regulations, and fraud,
• Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,
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L BENNETT & SON HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF L BENNETT & SON HOLDINGS LIMITED (CONTINUED)
• Challenging assumptions and judgements made by management in its significant accounting estimates; and
• Identifying and testing journal entries, in particular any unusual journal entries posted around the year-end and journal entries posted by infrequent system users.
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.
for and on behalf of
Chartered Accountants
Statutory Auditor
Old Station Road
Essex
IG10 4PL
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L BENNETT & SON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
REGISTERED NUMBER: 04805311
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
REGISTERED NUMBER: 04805311
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2026.
The notes on pages 21 to 39 form part of these financial statements.
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L BENNETT & SON HOLDINGS LIMITED
REGISTERED NUMBER: 04805311
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
REGISTERED NUMBER: 04805311
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2026 .
The notes on pages 21 to 39 form part of these financial statements.
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L BENNETT & SON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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L BENNETT & SON HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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L BENNETT & SON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
L Bennett & Son Holdings Limited is a limited company incorporated in the United Kingdom. The address of the registered office is given in the company information page of these financial statements. This company is a holding company and also owns investment property. The nature of the subsidiary’s operations and principal activity is the sale of motor accessories and mechanical parts.
2.Accounting policies
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildingsand in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound sterling.
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.
The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound sterling.
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.
The consolidated financial statements present the results of Group and its own subsidiaries ("the Group") as they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is provided on the following basis:
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated Statement of Comprehensive Income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. In the Consolidated Balance Sheet, the interests in associated undertakings are shown as the Group's share of the identifiable net assets, including any unamortised premium paid on acquisition.
Any premium on acquisition is dealt with in accordance with the goodwill policy.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 the revision and future periods, if the revision affects both current and future periods.
The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
14.Tangible fixed assets (continued)
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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The 2025 valuations were made by the directors, on an open market value basis.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The bank facilities are secured by a fixed and floating charge over the assets of the company, a cross guarantee with its subsidiary company, personal guarantees from the directors M A Bennett and J L Bennett for the combined sum of £175,000 (2022: £175,000) and D P S Bennett for freehold property owned personally, and over certain insurance policies in the names of J L Bennett and M A Bennett.
A sales finance agreement with Barclays Bank has been secured by a corporate guarantee executed by J L Bennett and M A Bennett amounting to £50,000.
A sales finance agreement with Barclays Bank has been secured by a corporate guarantee executed by J L Bennett and M A Bennett amounting to £50,000.
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Revaluation reserve
Profit and loss account
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge, represents contributions payable by the group to the fund and amounted to £749,310 (2024: £688,907).
At the year end a balance of £53,341 (2024: £42,366) was still owed to the defined contribution pension scheme.
At the year end a balance of £53,341 (2024: £42,366) was still owed to the defined contribution pension scheme.
At the year end, £451,919 (2024: £16,017) was due from the directors of the company. Interest of £9,564 (2024: £10,639) has been charged on the loan.
The Group has entered into a guarantee on behalf of one of the directors in respect of a hire purchase agreement. The guarantee lasts for the length of the agreement of which 5 years remain outstanding at the Group’s year end. At the year end, the capital amount outstanding amounted to £83,703 (2024 - £104,513) and is included in the Group’s hire purchase liability at the year end. The amount of the guarantee is decreasing as the payments are made. No amounts are included in the profit and loss account under this guarantee during the year (2024 - £Nil)
The Group has entered into a guarantee on behalf of one of the directors in respect of a hire purchase agreement. The guarantee lasts for the length of the agreement of which 5 years remain outstanding at the Group’s year end. At the year end, the capital amount outstanding amounted to £83,703 (2024 - £104,513) and is included in the Group’s hire purchase liability at the year end. The amount of the guarantee is decreasing as the payments are made. No amounts are included in the profit and loss account under this guarantee during the year (2024 - £Nil)
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L BENNETT & SON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The ultimate controlling party is the Bennett family.
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