Standard Motor Transport Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

Standard Motor Transport Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01088378 . The registered office is 14 Lisle Ave, Kidderminster, Worcestershire, DY11 7DE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on the reducing balance
Plant & Machinery	15% on the reducing balance
Lorries and Trailers	25% on the reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.5. Financial Instruments

The company recognises financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument.

Basic financial instruments, including trade debtors, trade creditors and loans, are initially recognised at transaction price and subsequently measured at amortised cost, where applicable, less any impairment.

Investments in the equity instruments of other companies which are neither subsidiaries nor associates are initially recognised at transaction price.

Where fair value can be measured reliably, such investments are subsequently measured at fair value, with changes in fair value recognised in profit or loss.

Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Financial assets are assessed for indicators of impairment at each reporting date, where applicable.

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Standard Motor Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Standard Motor Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 40 (2025: 40)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Lorries and Trailers	Total
	£	£	£	£
Cost
As at 1 February 2025	268,509	284,331	1,707,997	2,260,837
Additions	36,755	48,956	257,364	343,075
Disposals	-	-	(137,535 )	(137,535 )

As at 31 January 2026	305,264	333,287	1,827,826	2,466,377

Depreciation
As at 1 February 2025	70,944	226,730	1,060,566	1,358,240
Provided during the period	4,688	15,985	220,611	241,284
Disposals	-	-	(121,660 )	(121,660 )

As at 31 January 2026	75,632	242,715	1,159,517	1,477,864

Net Book Value
As at 31 January 2026	229,632	90,572	668,309	988,513

As at 1 February 2025	197,565	57,601	647,431	902,597

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 February 2025	209,160
Fair value adjustments	22,140

As at 31 January 2026	231,300

Provision
As at 1 February 2025	-

As at 31 January 2026	-

Net Book Value
As at 31 January 2026	231,300

As at 1 February 2025	209,160

During the preparation of the financial statements for the year ended 31 January 2026, the directors reviewed the accounting treatment of an investment in the ordinary shares of an unquoted private limited company.

The investment was originally acquired for £25,000 and was subsequently revalued resulting in an unrealised gain of £95,900 which was credited directly to the revaluation reserve.

Following a review of the requirements of FRS 102 Section 11, it was determined that the gain should have been recognised in profit or loss in the period in which the revaluation occurred, rather than directly in the revaluation reserve.

Accordingly, a prior-period adjustment has been made to reclassify £95,900 from the revaluation reserve to retained earnings.

...CONTINUED

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Standard Motor Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Investments - continued

The adjustment has no effect on total shareholders' funds, the carrying value of the investment or the profit for the year ended 31 January 2025. The comparative figures have been restated accordingly.

6. Stocks

	2026	2025 as restated
	£	£
Stock	15,000	15,000

7. Debtors

	2026	2025 as restated
	£	£
Due within one year
Trade debtors	1,167,755	994,801
Prepayments and accrued income	25,940	10,035
Other debtors	4,617	4,619

	1,198,312	1,009,455

8. Creditors: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Trade creditors	523,175	516,405
Corporation tax	85,391	51,996
Other taxes and social security	57,431	48,250
VAT	138,859	121,754
Other creditors	37,916	36,268
Accruals and deferred income	20,148	12,700
Directors' loan accounts	104,811	11,029

	967,731	798,402

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025 as restated
	£	£
Accelerated capital allowances	186,900	176,258

10. Share Capital

	2026	2025 as restated
	£	£
Allotted, Called up and fully paid	80,000	80,000

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Standard Motor Transport Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

11. Dividends

	2026	2025 as restated
	£	£
On equity shares:
Final dividend paid	124,000	24,000

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		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		988,513		902,597
Investments	5		231,300		209,160

			1,219,813		1,111,757
CURRENT ASSETS
Stocks	6	15,000		15,000
Debtors	7	1,198,312		1,009,455
Cash at bank and in hand		932,879		887,581

		2,146,191		1,912,036
Creditors: Amounts Falling Due Within One Year	8	(967,731 )		(798,402 )

NET CURRENT ASSETS (LIABILITIES)			1,178,460		1,113,634

TOTAL ASSETS LESS CURRENT LIABILITIES			2,398,273		2,225,391

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(186,900 )		(176,258 )

NET ASSETS			2,211,373		2,049,133

CAPITAL AND RESERVES
Called up share capital	10		80,000		80,000
Income Statement			2,131,373		1,969,133

SHAREHOLDERS' FUNDS			2,211,373		2,049,133