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REGISTERED NUMBER: 04671733 (England and Wales)















F D Statton & Son Limited

Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2023






F D Statton & Son Limited (Registered number: 04671733)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


F D Statton & Son Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A S Burdock
R Poskitt



SECRETARY: J G Braide



REGISTERED OFFICE: Ings Road
Doncaster
South Yorkshire
DN5 9TL



REGISTERED NUMBER: 04671733 (England and Wales)



SENIOR STATUTORY AUDITOR: Ian Parsons FCA



AUDITORS: Paylings
Accountants
Statutory Auditors
No.2 Silkwood Office Park
Fryers Way
Wakefield
West Yorkshire
WF5 9TJ

F D Statton & Son Limited (Registered number: 04671733)

Report of the Directors
for the Year Ended 31 December 2023

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

DIRECTORS
A S Burdock and R Poskitt were appointed as directors after 31 December 2023 but prior to the date of this report.

R V Ratcliffe and A R Smith ceased to be directors after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing 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). 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 of the profit or loss of the company 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;
-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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 company'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 company's auditors are aware of that information.

AUDITORS
The auditors, Paylings, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R Poskitt - Director


20 September 2024

F D Statton & Son Limited (Registered number: 04671733)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 723
Tangible assets 5 582,558 551,381
582,558 552,104

CURRENT ASSETS
Stocks 1,223 196
Debtors 6 1,004,143 1,070,191
Cash at bank and in hand 4,830 30,596
1,010,196 1,100,983
CREDITORS
Amounts falling due within one year 7 75,733 73,665
NET CURRENT ASSETS 934,463 1,027,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,517,021

1,579,422

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,516,021 1,578,422
1,517,021 1,579,422

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





R Poskitt - Director


F D Statton & Son Limited (Registered number: 04671733)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

F D Statton & Son 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The presentational currency is GBP.

Going concern
Whilst the entity has not made a profit in the current year, it still maintains positive reserves and has no current requirement for support from its parent entity. The going concern basis of preparation is therefore deemed appropriate by management.

Related party exemption
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.

Significant judgements and estimates
In respect of depreciation, the entity is largely governed by the Rethmann accounting policies (issued by the parent group). These policies/rates are followed, to the extent that they are reflective of the average economic consumption of the asset type. Where the actual consumption of a class of asset differs materially from this policy, a more appropriate rate is applied.

The Rethmann policy of bad debt provision is applied, being 100% for debts over 365 days old, 50% for debts over 180 days old and 1% against all other debts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised on the sale of goods, on despatch of those goods from our sites when the significant risks and rewards of ownership are transferred to our customers.

Turnover is recognised on the performance of services, as and when those services are carried out.

Goodwill
Goodwill being the amount paid in connection with the acquisition of two businesses in 2002 and 2014, are being amortised evenly over their estimated useful lives of 20 and 5 years respectively.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 33 years straight line
Plant and machinery etc - 3 - 10 years straight line, 25% reducing balance (new motor vehicles) and 2 - 6 years
estimated remaining useful life (specific to used vehicles)

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

F D Statton & Son Limited (Registered number: 04671733)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforecable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

F D Statton & Son Limited (Registered number: 04671733)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 145,491
AMORTISATION
At 1 January 2023 144,768
Charge for year 723
At 31 December 2023 145,491
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 723

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 277,451 615,179 892,630
Additions 4,800 101,846 106,646
Disposals - (822 ) (822 )
At 31 December 2023 282,251 716,203 998,454
DEPRECIATION
At 1 January 2023 77,996 263,253 341,249
Charge for year 7,399 67,248 74,647
At 31 December 2023 85,395 330,501 415,896
NET BOOK VALUE
At 31 December 2023 196,856 385,702 582,558
At 31 December 2022 199,455 351,926 551,381

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 254,302 166,113
Amounts owed by group undertakings 710,118 855,930
Other debtors 39,723 48,148
1,004,143 1,070,191

Amounts owed by group undertakings represent money owed by the parent entity as a result of the daily cashpooling facility. This loan earns minimal interest at a variable rate, and is repayable on demand should the entity require it.

F D Statton & Son Limited (Registered number: 04671733)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,061 22,549
Amounts owed to group undertakings - 11,524
Taxation and social security 41,243 18,440
Other creditors 20,429 21,152
75,733 73,665

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 11,384 3,785

9. FINANCIAL INSTRUMENTS

2023 2022
£    £   
Financial assets
Cash and cash equivalents 4,830 30,596
Financial assets that are debt instruments measured at amortised cost 1,004,143 1,070,191

Financial liabilities
Financial liabilities measured at amortised cost (75,732 ) (73,665 )

Financial assets measured at amortised cost comprise trade debtors, amounts owed by group and related entities, other debtors (inc tax debtors) and accrued income.

Financial liabilities measured at amortised cost comprise amounts owed to group and related entities, trade creditors, other creditors (inc tax creditors) and accruals.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Parsons FCA (Senior Statutory Auditor)
for and on behalf of Paylings

11. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 10,080 23,863

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

In common with many other businesses of our size and nature we use our auditors to provide tax advice and to represent us, as necessary, at tax tribunals.

F D Statton & Son Limited (Registered number: 04671733)

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

13. ULTIMATE CONTROLLING PARTY

The immediate parent company of FD Statton & Son Limited is SARIA Limited. Saria Limited is indirectly owned by the ultimate parent entity, Rethmann SE & Co. KG The ultimate parent entity is incorporated in Germany and is ultimately controlled by the Rethmann family.

The largest group for which group accounts including the company are drawn up, are the Rethmann SE & Co. KG group. A copy of the consolidated accounts are filed at Companies House alongside the accounts of Saria Limited (immediate parent entity).