Filleted
Registration number: 04419456

Frenni Transport Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Frenni Transport Limited

Company Information

Directors

Mrs SE Passant Mr MR Parry Mr J O Parry Miss B J Parry Mr SF Parry

Company secretary

Mrs SE Passant

Registered office

Distribution Yard Parc Gwynfryn Crymych SA41 3RQ

Frenni Transport Limited

(Registration number: 04419456)
Balance Sheet as at 31 May 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	2,148,782	1,882,355
Current assets
Stocks	5	45,564	25,076
Debtors	6	1,762,523	1,404,840
Cash at bank and in hand		1,472,377	3,066,823
		3,280,464	4,496,739
Creditors: Amounts falling due within one year	7	(946,471)	(912,661)
Net current assets		2,333,993	3,584,078
Total assets less current liabilities		4,482,775	5,466,433
Provisions for liabilities		(393,196)	(322,581)
Net assets		4,089,579	5,143,852
Capital and reserves
Called up share capital	8	303	3
Retained earnings		4,089,276	5,143,849
Shareholders' funds		4,089,579	5,143,852

For the financial year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2026 and signed on its behalf by:
 

Frenni Transport Limited

(Registration number: 04419456)
Balance Sheet as at 31 May 2026

......................................... Mrs SE Passant Company secretary and director

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Distribution Yard
Parc Gwynfryn
Crymych
SA41 3RQ

These financial statements were authorised for issue by the Board on 17 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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.

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

2	Accounting policies (continued)

Key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods..

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business which is the provision of transport services, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	2% straight line

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

2	Accounting policies (continued)

Leasehold land and buildings	2% straight line
Plant and equipment	15% on a reducing balance basis
Fixtures and fittings	15% on a reducing balance basis
Computers	25% on a reducing balance basis
Motor vehicles	15% on a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises fuel and vehicle parts. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

2	Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 86 (2025 - 84).

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

4	Tangible assets

	Land and buildings £	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 June 2025	416,572	374,404	1,007	459,909	42,279
Additions	-	44,116	-	40,231	1,720
Disposals	-	-	-	(83,134)	-
At 31 May 2026	416,572	418,520	1,007	417,006	43,999
Depreciation
At 1 June 2025	116,647	59,889	387	273,605	23,480
Charge for the year	8,340	14,837	96	32,078	4,980
Eliminated on disposal	-	-	-	(83,134)	-
At 31 May 2026	124,987	74,726	483	222,549	28,460
Carrying amount
At 31 May 2026	291,585	343,794	524	194,457	15,539
At 31 May 2025	299,925	314,515	620	186,304	18,800

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

4	Tangible assets (continued)

	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2025	1,978,779	3,272,950
Additions	444,562	530,629
Disposals	(46,760)	(129,894)
At 31 May 2026	2,376,581	3,673,685
Depreciation
At 1 June 2025	916,588	1,390,596
Charge for the year	185,743	246,074
Eliminated on disposal	(28,633)	(111,767)
At 31 May 2026	1,073,698	1,524,903
Carrying amount
At 31 May 2026	1,302,883	2,148,782
At 31 May 2025	1,062,191	1,882,355

Included within the net book value of land and buildings above is £291,585 (2025 - £299,925) in respect of freehold land and buildings and £343,794 (2025 - £314,515) in respect of long leasehold land and buildings.
 

5

Stocks

	2026 £	2025 £
Raw materials and consumables	45,564	25,076

6

Debtors

Current	2026 £	2025 £
Trade debtors	1,756,246	1,330,620
Other debtors	6,277	74,220
	1,762,523	1,404,840

Frenni Transport Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Trade creditors		507,861	335,440
Taxation and social security		397,038	497,111
Directors' loan accounts		1,871	32,893
Outstanding defined contribution pension costs		3,756	3,459
Other creditors		35,945	43,758
		946,471	912,661

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	300	300	3	3
A shares of £1 (2025 - £0) each	1	1	-	-
B shares of £1 (2025 - £0) each	1	1	-	-
C shares of £1 (2025 - £0) each	1	1	-	-
	303	303	3	3