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REGISTERED NUMBER: 11250127 (England and Wales)














Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2023

for

Standard Group Holdings Limited

Standard Group Holdings Limited (Registered number: 11250127)

Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 6

Report of the Independent Auditors 8

Consolidated Income Statement 12

Consolidated Other Comprehensive Income 13

Consolidated Balance Sheet 14

Company Balance Sheet 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Notes to the Consolidated Cash Flow Statement 19

Notes to the Consolidated Financial Statements 20


Standard Group Holdings Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M F Goodwin
N J Goodwin
G C Goodwin
M D Goodwin





REGISTERED OFFICE: Carlton House
Gores Road
Knowsley Industrial Estate
Liverpool
Merseyside
L33 7XS





REGISTERED NUMBER: 11250127 (England and Wales)





AUDITORS: SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Standard Group Holdings Limited (Registered number: 11250127)

Group Strategic Report
for the Year Ended 31 March 2023


The directors present their strategic report of the company and the group for the year ended 31 March 2023.

REVIEW OF BUSINESS
The directors are pleased with the performance of the business for the year. Sales volumes were approximately 191 million litres. This was managed through a combination of organic growth with existing customers, emerging into new markets and being awarded new supply contracts.

We continue to prioritise long term customer contracts as opposed to spot work which affords stability and mitigates against the risks of what can be considered an incredibly seasonal industry. Oil prices remained high throughout the year only starting to reduce slowly during the latter part of the year.

PRINCIPAL RISKS AND UNCERTAINTIES
Without mitigation the business could be exposed to a number of risks.

Credit Risk: The company operates a strict credit control policy with the majority of our debt insured.

Environmental Risk: Standard Fuel Oils are exposed to environmental risks due to the nature of the products it delivers. The company places significant emphasis on compliance ensuring that best practice is incorporated into its key processes. Our insurance policies remain effective enough to mitigate the risk of any unseen events.

Liquidity Risk: The company continues to hold significant cash balances and has no long term intention to move away from a policy of doing otherwise.

Competition: Fuel distribution is a highly competitive market, and although a significant amount of consolidation has taken place over the last decade, competition is still deemed to be the main force of regulation. We employ a dedicated and experienced sales team and have control over our own storage and logistics operation.

Major Disruption: The company has a disaster recovery plan which is reviewed on an ongoing basis.

SECTION 172(1) STATEMENT
Standard Fuel Oils Ltd depends on the trust and confidence of all its stakeholders to operate sustainably in the long
term. The Company seeks to build strong partnerships, create a culture of safety, invest in its people, respect the
environment in which it operates and strives to generate sustainable value for shareholders.

The Directors 'of the Company, both individually and together, have acted in accordance with their duties codified in
law, which includes their duty to act in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to its stakeholders and the matters contained in Section 172(1) of the Companies Act 2006, set out below;

- Likely consequences of any decisions in the long term;
- Interests of the Company's employees;
- Need to foster the Company's business relationships with suppliers, customers and others; impact of the Company's operations on the community and environment;
- Desirability of the Company maintaining a reputation for high standards of business conduct; and need to act fairly as between members of the Company

The Directors' understanding of the interests of the Company's stakeholders is informed by the programme of
stakeholder engagement detailed overleaf. Section 172 considerations are embedded in decision making at Board level and throughout the Company.


Standard Group Holdings Limited (Registered number: 11250127)

Group Strategic Report
for the Year Ended 31 March 2023

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The S172 statement published by Standard Fuel Oils Ltd sets out in detail how the Board have engaged with
stakeholders including shareholders, employees, suppliers, customers and community.
The Group seeks to build strong partnerships, create a culture of safety, invest in its people, respect the environment in which it operates and strives to generate sustainable value for shareholders.

Our Customers
Commitment to customer service remains critical to our success. Our customers' expectations are that we maintain a
reliable service that is delivered on time and in full; supply quality products that are value for money; and have
knowledgeable and responsive teams who provide technical excellent in their respective fields.

Our Suppliers
Through collaborative and mutually beneficial relationship we can continue to deliver efficient, quality services and high standards in a sustainable manner. We actively engage with suppliers to ensure strong relationships are maintained and co-operate with them to improve their products and services and resolve any issues. We ensure we are in compliance with contractual terms and conditions. We maintain high standards and take steps to ensure compliance with anti-bribery, modem slavery and diversity and inclusion best practices via our supply chain.

Employee engagement
The Company systematically provides employees with information on matters of concern to them, consulting them or their representatives regularly, so that their views can be taken into account when making decisions that are likely to affect their interests. Employee involvement in the Company is encouraged, as achieving a common awareness on the part of all employees of the financial and economic factors affecting the Company plays a major role in its performance.

The Company is committed to an active equal opportunities policy from recruitment and selection, through training and development, performance reviews and promotion to retirement. The Company's policy is to, promote an environment free from discrimination, harassment and victimisation, where all employees receive equal treatment regardless of gender, colour, ethnic or national origin, health condition, disability, age, marital or civil partner status, sexual orientation or religion. All decisions relating to employment practices will be objective, free from bias and based solely upon work criteria and individual merit.

Bankers
Our bankers, Lloyds Bank, are kept informed of the business through regular meetings with the bank relationship manager and scheduled reports.

Community and Environment
We are strong supporters of the local community, sourcing from local or regional suppliers in an effort to support the community whilst reducing our environmental impact. Many of our employees live within close proximity of our offices and depots. We frequently support local charities and are continuously looking at ways to minimise our carbon footprint.


Standard Group Holdings Limited (Registered number: 11250127)

Group Strategic Report
for the Year Ended 31 March 2023


STREAMLINED ENERGY AND CARBON REPORTING
Standard Fuel Oils use the three most common ISO management systems which are UKAS certified and audited annually.

These management systems focus on action and objectives on areas in our business that will have the most significant impact on the environment.

ISO 9001 - Quality Management
ISO 14001 - Environmental Management
ISO 45001 - Occupational Health and Safety

Following Covid-19 we have continued to decrease our emissions by reducing travel and low office occupancy through flexible working.

The group's activities resulted in consumption of 1,297 tonnes of CO2e during the year ended 31st March 2023 in the delivery of fuel to customers (2022: 1,364)

Whilst the reduction of the consumption is relatively small this has been achieved during a period of growth within the group.

The Standard group purchased 20,000 kWh of electricity for its own use (2022: 13,519 kWh) for the purpose of providing heat and light to its premises. The directors continue to monitor the usage of energy across the company, with a view to reducing the carbon footprint where possible.

In an effort to mitigate the company's carbon emissions and use resources more responsibly, Standard has implemented the following:

Fleet improvement
Switching the life cycle of company vehicles;
New computer truck software to reduce paper consumption within the company and assisting with fuel fleet management;
Launch Green Car Scheme to employees;
Employees continue to be encouraged to join the bike to ride scheme.

Premises Improvement
Installation of LED Lighting to offices and operational premises;
Install electric charging points to company premises;
Changing the heating system in the office to burn a more environmentally friendly fuel.

Company Policy
Build awareness amongst workforce about the impact of their decision on our journey to net zero;
Implemented more flexible working practices to reduce carbon emissions from unnecessary travel by air, rail and road;
We run our own fleet of vehicles on HVO (Hydrotreated Vegetable Oil) which is a fossil-free alternative to mineral diesel, resulting in up to 90% reduction in Greenhouse Gas emissions;
We work with suppliers to encourage them to set their ow carbon reduction targets.


Standard Group Holdings Limited (Registered number: 11250127)

Group Strategic Report
for the Year Ended 31 March 2023

FINANCIAL PERFORMANCE
Once again the company delivered impressive results during a year of supply challenges with the uncertainties surrounding the continued War in Ukraine and the Red Diesel legislation changes introduced by the Government on 1st April 2022. Turnover increased £80.7m, 46.66% year on year. Net profit increased by £171.5k, this is reflective in a rise in Shareholders funds of £8,874,033.

Key Performance Indicators (KPIs)

The company has made good progress throughout the year in relation to the key elements of its strategy. The Board monitors the progress of the group using the following Key Performance Indicators:

- Gross Profit margin per product
- Debtor Days
- Creditor Days
- Targeted new customers per month
- Sales Volume by Location

Performance is measured against prior year and prior month for each of these measures. Management continues to monitor these KPI's on a monthly basis and act upon any significant variances immediately.

FUTURE DEVELOPMENTS
The company has maintained strong growth, adding to its workforce and fleet, with the expectant delivery of a further four road tankers in 2023/24 and expanding the current storage facilities. The business is forecast to deliver approximately 210 million litres of mixed fuels during the 2023/24 financial year. We continue to bring on new customers on a regular basis and will continue to invest in sustainable & renewable fuels to supply some of our contracted customers who have switched to replacement products such as HVO (Hydrotreated Vegetable Oil).

ON BEHALF OF THE BOARD:





N J Goodwin - Director


19 October 2023

Standard Group Holdings Limited (Registered number: 11250127)

Report of the Directors
for the Year Ended 31 March 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of a holding company, the provision of fuels and property investment.

DIVIDENDS
Interim dividends per share were paid as follows:
A shares £779,000 - 31 March 2023
B shares £779,000 - 31 March 2023
C shares £500,000 - 31 March 2023
D shares £200,000 - 31 March 2023
E shares £75,500 - 31 March 2023

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2023 will be £2,330,500

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

M F Goodwin
N J Goodwin
G C Goodwin
M D Goodwin

POLITICAL DONATIONS AND EXPENDITURE
There were no political donations made or political expenditure incurred during the financial year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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), 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 and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Standard Group Holdings Limited (Registered number: 11250127)

Report of the Directors
for the Year Ended 31 March 2023


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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





N J Goodwin - Director


19 October 2023

Report of the Independent Auditors to the Members of
Standard Group Holdings Limited


Opinion
We have audited the financial statements of Standard Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 March 2023 and of the group's profit 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 group 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 group's and 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Standard Group Holdings Limited


Matters on which we are required to report by exception
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 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 page six, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Standard Group Holdings Limited


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:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We obtained an understanding of the legal and regulatory frameworks applicable to the group and the sector in which it operates. We determined that the following laws and regulations were most significant;
- Those which are directly relevant to specific assertions in the financial statements.
- Those that relate to reporting frameworks being FRS102, the Companies Act 2006, and the relevant tax compliance regulations.
- In addition, we considered other laws and regulations which may be fundamental to the company's ability to operate including complying with regulations as part of our audit procedures which included discussions with management. The regulations the company adhere to are;
- International Carriage of Dangerous Goods by Road (ADR)
- International Organization for Standardization (ISO)
- Health and Safety at work Act 1974
- Petroleum (Consolidation) Regulation 2014
- The Dangerous Substances and Explosive Atmosphere Regulations 2022
- We obtained an understanding of how the group is complying with those legal and regulatory frameworks by making enquiries of management, reviewing any board meeting minutes, and reviewing the legal costs incurred in the year and enquiring with management as to the circumstances around these legal costs.
- We assessed the susceptibility of the group's financial statements to materiality misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:
- identifying the controls that management has in place to prevent and detect fraud;
- challenging assumptions and judgements made by management in its significant accounting estimates;
- auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business;
- assessing the extent of compliance with the relevant laws and regulations.

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.

Report of the Independent Auditors to the Members of
Standard Group Holdings Limited


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.




Suzanne Draper FCCA ACA (Senior Statutory Auditor)
for and on behalf of SB&P
Chartered Accountants & Statutory Auditors
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

19 October 2023

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 3 253,965,205 173,240,638

Cost of sales 235,721,752 156,191,096
GROSS PROFIT 18,243,453 17,049,542

Administrative expenses 4,460,486 3,491,811
13,782,967 13,557,731

Other operating income 13,200 13,200
OPERATING PROFIT 5 13,796,167 13,570,931

Interest receivable and similar income 139,968 1,705
13,936,135 13,572,636

Interest payable and similar expenses 7 1,863 9,920
PROFIT BEFORE TAXATION 13,934,272 13,562,716

Tax on profit 8 2,729,739 2,529,727
PROFIT FOR THE FINANCIAL YEAR 11,204,533 11,032,989
Profit attributable to:
Owners of the parent 11,204,533 11,032,989

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Other Comprehensive Income
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

PROFIT FOR THE YEAR 11,204,533 11,032,989


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

11,204,533

11,032,989

Total comprehensive income attributable to:
Owners of the parent 11,204,533 11,032,989

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 2,210,299 2,272,871
Investments 12 - -
2,210,299 2,272,871

CURRENT ASSETS
Stocks 13 315,736 757,953
Debtors 14 17,317,253 20,824,992
Cash at bank 31,973,386 25,375,223
49,606,375 46,958,168
CREDITORS
Amounts falling due within one year 15 19,129,184 25,553,512
NET CURRENT ASSETS 30,477,191 21,404,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,687,490

23,677,527

CREDITORS
Amounts falling due after more than one
year

16

(61,063

)

-

PROVISIONS FOR LIABILITIES 19 (368,164 ) (293,297 )
NET ASSETS 32,258,263 23,384,230

CAPITAL AND RESERVES
Called up share capital 20 112 112
Merger relief 21 11,166,889 11,166,889
Merger reserve 21 (11,166,889 ) (11,166,889 )
Retained earnings 21 32,258,151 23,384,118
32,258,263 23,384,230

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





N J Goodwin - Director


Standard Group Holdings Limited (Registered number: 11250127)

Company Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 - -
Investments 12 11,167,189 11,167,189
11,167,189 11,167,189

CURRENT ASSETS
Debtors 14 111 111

CREDITORS
Amounts falling due within one year 15 18,175 14,325
NET CURRENT LIABILITIES (18,064 ) (14,214 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,149,125

11,152,975

CAPITAL AND RESERVES
Called up share capital 20 112 112
Retained earnings 21 11,149,013 11,152,863
11,149,125 11,152,975

Company's profit for the financial year 2,326,650 1,008,500

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





N J Goodwin - Director


Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Merger Merger Total
capital earnings relief reserve equity
£    £    £    £    £   

Balance at 1 April 2021 112 13,363,129 11,166,889 (11,166,889 ) 13,363,241

Changes in equity
Dividends - (1,012,000 ) - - (1,012,000 )
Total comprehensive income - 11,032,989 - - 11,032,989
Balance at 31 March 2022 112 23,384,118 11,166,889 (11,166,889 ) 23,384,230

Changes in equity
Dividends - (2,330,500 ) - - (2,330,500 )
Total comprehensive income - 11,204,533 - - 11,204,533
Balance at 31 March 2023 112 32,258,151 11,166,889 (11,166,889 ) 32,258,263

Standard Group Holdings Limited (Registered number: 11250127)

Company Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 112 11,156,363 11,156,475

Changes in equity
Dividends - (1,012,000 ) (1,012,000 )
Total comprehensive income - 1,008,500 1,008,500
Balance at 31 March 2022 112 11,152,863 11,152,975

Changes in equity
Dividends - (2,330,500 ) (2,330,500 )
Total comprehensive income - 2,326,650 2,326,650
Balance at 31 March 2023 112 11,149,013 11,149,125

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Cash Flow Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 12,566,558 14,571,632
Interest element of hire purchase payments
paid

(1,863

)

(9,920

)
Tax paid (3,238,674 ) (1,187,273 )
Net cash from operating activities 9,326,021 13,374,439

Cash flows from investing activities
Purchase of tangible fixed assets (517,025 ) (686,615 )
Interest received 139,968 1,705
Net cash from investing activities (377,057 ) (684,910 )

Cash flows from financing activities
Capital repayments in year (20,301 ) (441,250 )
Equity dividends paid (2,330,500 ) (1,012,000 )
Net cash from financing activities (2,350,801 ) (1,453,250 )

Increase in cash and cash equivalents 6,598,163 11,236,279
Cash and cash equivalents at beginning
of year

2

25,375,223

14,138,944

Cash and cash equivalents at end of year 2 31,973,386 25,375,223

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.3.23 31.3.22
£    £   
Profit before taxation 13,934,272 13,562,716
Depreciation charges 641,619 500,377
Finance costs 1,863 9,920
Finance income (139,968 ) (1,705 )
14,437,786 14,071,308
Decrease/(increase) in stocks 442,217 (447,032 )
Decrease/(increase) in trade and other debtors 3,507,739 (10,447,668 )
(Decrease)/increase in trade and other creditors (5,821,184 ) 11,395,024
Cash generated from operations 12,566,558 14,571,632

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 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 31,973,386 25,375,223
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 25,375,223 14,138,944


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.4.22 Cash flow changes At 31.3.23
£    £    £    £   
Net cash
Cash at bank 25,375,223 6,598,163 31,973,386
25,375,223 6,598,163 31,973,386
Debt
Finance leases (22,198 ) 20,301 - (63,919 )
(22,198 ) 20,301 - (63,919 )
Total 25,353,025 6,618,464 - 31,909,467

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Standard Group Holdings 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 General 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.

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 - 2% on cost
Plant and machinery - 20% on cost and 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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 Consolidated Income Statement, 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.3.23 31.3.22
£    £   
Sale of goods 253,965,205 173,240,638
253,965,205 173,240,638

4. EMPLOYEES AND DIRECTORS
31.3.23 31.3.22
£    £   
Wages and salaries 1,833,612 1,546,913
Social security costs 204,167 156,283
Other pension costs 79,280 61,777
2,117,059 1,764,973

The average number of employees during the year was as follows:
31.3.23 31.3.22

Directors 5 3
Administration 5 4
Distribution 23 19
Marketing - 3
Sales 8 8
Cleaning 1 -
42 37

The average number of employees by undertakings that were proportionately consolidated during the year was 42 (2022 - 37 ) .

31.3.23 31.3.22
£    £   
Directors' remuneration 321,904 72,454
Directors' pension contributions to money purchase schemes 22,583 2,687

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

Money purchase schemes 5 3

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


4. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director for the year ended 31 March 2023 is as follows:
31.3.23
£   
Emoluments etc 47,501
Pension contributions to money purchase schemes 2,139

5. OPERATING PROFIT

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

31.3.23 31.3.22
£    £   
Other operating leases 25,187 13,871
Depreciation - owned assets 640,684 447,432
Depreciation - assets on hire purchase contracts 935 52,945
Foreign exchange differences 4,374 (9,483 )

6. AUDITORS' REMUNERATION
31.3.23 31.3.22
£    £   
Fees payable to the company's auditors and their associates for the audit
of the company's financial statements

15,925

15,000
Taxation compliance services 250 250

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.23 31.3.22
£    £   
Hire purchase 1,863 9,920

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.23 31.3.22
£    £   
Current tax:
UK corporation tax 2,647,005 2,496,475
Corporation tax under/(over) - (10,747 )
Corporation tax interest 7,867 (125 )
Total current tax 2,654,872 2,485,603

Deferred tax 74,867 44,124
Tax on profit 2,729,739 2,529,727

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.23 31.3.22
£    £   
Profit before tax 13,934,272 13,562,716
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

2,647,512

2,576,916

Effects of:
Expenses not deductible for tax purposes 9,546 7,850
Income not taxable for tax purposes - (1,562 )
Capital allowances in excess of depreciation (27,806 ) (42,606 )
Adjustments to tax charge in respect of previous periods - (10,746 )
Interest on tax 7,867 (125 )
Change in tax rate 92,620 -
Total tax charge 2,729,739 2,529,727

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


10. DIVIDENDS

31.3.23 31.3.22
£    £   
Interim 2,330,500 1,012,000

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 447,126 3,377,985 125,000 104,045 4,054,156
Additions - 507,566 - 71,481 579,047
At 31 March 2023 447,126 3,885,551 125,000 175,526 4,633,203
DEPRECIATION
At 1 April 2022 11,760 1,672,493 61,000 36,032 1,781,285
Charge for year 3,920 606,255 12,800 18,644 641,619
At 31 March 2023 15,680 2,278,748 73,800 54,676 2,422,904
NET BOOK VALUE
At 31 March 2023 431,446 1,606,803 51,200 120,850 2,210,299
At 31 March 2022 435,366 1,705,492 64,000 68,013 2,272,871

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 372,510 - 372,510
Additions - 62,022 62,022
Transfer to ownership (372,510 ) - (372,510 )
At 31 March 2023 - 62,022 62,022
DEPRECIATION
At 1 April 2022 262,243 - 262,243
Charge for year - 935 935
Transfer to ownership (262,243 ) - (262,243 )
At 31 March 2023 - 935 935
NET BOOK VALUE
At 31 March 2023 - 61,087 61,087
At 31 March 2022 110,267 - 110,267

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 11,167,189
NET BOOK VALUE
At 31 March 2023 11,167,189
At 31 March 2022 11,167,189

The above represents share for share exchanges, whereby shares were issued at a premium, and in accordance with section 612 of the Companies Act 2006 the company created a merger reserve of £11,166,889, as shown in the reserves note.

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Standard Fuel Oils Limited
Registered office: Carlton House, Gores Road, Knowsley Industrial Estate, Liverpool, L33 7XS
Nature of business: Provision of fuels
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 31,792,106 22,899,899
Profit for the year 11,222,707 11,009,692

Standard Group Property Limited
Registered office: Carlton House, Gores Road, Knowsley Industrial Estate, Liverpool, Merseyside, L33 7XS
Nature of business: Investment property
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves (129,250 ) (110,195 )
Loss for the year (19,055 ) (23,487 )

Goodwin Corporation Limited
Registered office: Carlton House, Gores Road, Knowsley Industrial Estate, Liverpool, Merseyside, L33 7XS
Nature of business: Retail of fuel for automotive
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 613,471 608,742
Profit for the year 4,729 50,284


13. STOCKS

Group
31.3.23 31.3.22
£    £   
Stocks 315,736 757,953

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.23 31.3.22 31.3.23 31.3.22
£    £    £    £   
Trade debtors 16,349,202 20,019,193 - -
Other debtors 63,723 134,430 111 111
Marine duty 507,252 392,261 - -
Tax debtor 49,003 49,003 - -
Directors' current accounts 150,778 150,778 - -
Prepayments and accrued income 197,295 79,327 - -
17,317,253 20,824,992 111 111

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.23 31.3.22 31.3.23 31.3.22
£    £    £    £   
Hire purchase contracts (see note 17) 2,856 22,198 - -
Trade creditors 17,320,948 22,997,750 - -
Amounts owed to group undertakings - - 14,376 10,526
Tax 1,320,293 1,904,095 - -
Social security and other taxes 47,277 34,667 - -
Pensions 16,645 11,197 - -
VAT 225,975 173,760 - -
Other creditors 62,274 69,115 299 299
Accruals and deferred income 132,916 340,730 3,500 3,500
19,129,184 25,553,512 18,175 14,325

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 17) 61,063 -

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.3.23 31.3.22
£    £   
Gross obligations repayable:
Within one year 10,747 22,437
Between one and five years 71,188 -
81,935 22,437

Finance charges repayable:
Within one year 7,891 239
Between one and five years 10,125 -
18,016 239

Net obligations repayable:
Within one year 2,856 22,198
Between one and five years 61,063 -
63,919 22,198

Group
Non-cancellable operating leases
31.3.23 31.3.22
£    £   
Within one year 9,078 5,970
Between one and five years 22,003 -
31,081 5,970

The total lease payments recognised as an expenses in the year was £25,187 (2022: £13,871).

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.3.23 31.3.22
£    £   
Hire purchase contracts 63,919 22,198

Hire purchase liabilities are secured against the assets to which they relate.

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


19. PROVISIONS FOR LIABILITIES

Group
31.3.23 31.3.22
£    £   
Deferred tax
Accelerated capital allowances 368,164 293,297

Group
Deferred
tax
£   
Balance at 1 April 2022 293,297
Charge to Income Statement during year 74,867
Balance at 31 March 2023 368,164

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal Value: £   
4,500 A £0.01 45
4,500 B £0.01 45
1,000 C £0.01 10
556 D £0.01 5.56
556 E £0.01 5.56

21. RESERVES

Group
Retained Merger Merger
earnings relief reserve Totals
£    £    £    £   

At 1 April 2022 23,384,118 11,166,889 (11,166,889 ) 23,384,118
Profit for the year 11,204,533 11,204,533
Dividends (2,330,500 ) (2,330,500 )
At 31 March 2023 32,258,151 11,166,889 (11,166,889 ) 32,258,151

Company
Retained
earnings
£   

At 1 April 2022 11,152,863
Profit for the year 2,326,650
Dividends (2,330,500 )
At 31 March 2023 11,149,013

Included within retained earnings is a merger reserve of £11,166,889 (2022: £11,166,889). The above represents share for share exchanges, whereby shares were issued at a premium, and in accordance with section 612 of the Companies Act 2006.

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023


22. PENSION COMMITMENTS

The group operates a defined benefit contribution scheme. During the year costs of the scheme amounted to £79,290 (2022: £61,777).

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
M D Goodwin
Balance outstanding at start of year 75,000 75,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 75,000 75,000

N J Goodwin
Balance outstanding at start of year 75,014 75,136
Amounts repaid - (122 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 75,014 75,014

M F Goodwin
Balance outstanding at start of year 764 764
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 764 764

24. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Key management personnel of the entity or its parent (in the aggregate)
31.3.23 31.3.22
£    £   
Amount due from related party 150,778 150,778

During the year, a total of key management personnel compensation of £352,487 (2022: £316,706) was paid.