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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 2024

for

Standard Group Holdings Limited

Standard Group Holdings Limited (Registered number: 11250127)

Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2024










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 2024







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 2024


The directors present their strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The directors are pleased with the performance of the business for the year. Sales volumes were approximately 208 million litres. This was achieved 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 group operates a strict credit control policy with the majority of our debt insured.

Environmental Risk: Standard Group Holdings are exposed to environmental risks due to the nature of the products it delivers. The group 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 group 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 group has a disaster recovery plan which is reviewed on an ongoing basis.

SECTION 172(1) STATEMENT
Standard Group Holdings Ltd depends on the trust and confidence of all its stakeholders to operate sustainably in the long term. 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.

The Directors 'of the Group, 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 Group 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 Group's employees;
- Need to foster the Group's business relationships with suppliers, customers and others; impact of the Company's operations on the community and environment;
- Desirability of the Group maintaining a reputation for high standards of business conduct; and need to act fairly as between members of the Group

The Directors' understanding of the interests of the Group'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 Group.


Standard Group Holdings Limited (Registered number: 11250127)

Group Strategic Report
for the Year Ended 31 March 2024

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The S172 statement published by Standard Group Holdings 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 Group 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 Group is encouraged, as achieving a common awareness on the part of all employees of the financial and economic factors affecting the Group plays a major role in its performance.

The Group is committed to an active equal opportunities policy from recruitment and selection, through training and development, performance reviews and promotion to retirement. The Group'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 2024


STREAMLINED ENERGY AND CARBON REPORTING
Standard Group Holdings 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 995 tonnes of CO2e during the year ended 31st March 2024 in the delivery of fuel to customers (2022: 1,364; 2023: 1,297)

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 18,500 kWh of electricity for its own use (2022: 13,519 kWh; 2023: 20,000 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
Installed a second load skid which has less impact on Environmental plus emissions are reduced due to not having to travel to a terminal

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 low carbon reduction targets


Standard Group Holdings Limited (Registered number: 11250127)

Group Strategic Report
for the Year Ended 31 March 2024

FINANCIAL PERFORMANCE
While our turnover decreased by 6.4% this year, sales volumes increased by 18 million litres. The directors are satisfied with the results achieved which leaves a further enhanced balance sheet with shareholder’s funds at £38,450,869.

Key Performance Indicators (KPIs)

The group has made good progress throughout the year in relation to the key elements of its strategy, in particular the acquisition of River Marine Fuels Ltd. 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 group has maintained strong growth, adding to its workforce and fleet, with the expectant delivery of a further seven road tankers in 2024/25 and expanding the current storage facilities. The business is forecast to deliver approximately 215 million litres of mixed fuels during the 2024/25 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).

Following the acquisition of River Marine Fuels Ltd in November 2023 the partnership brings together all aspects of the marine bunkering process and will see the Standard Fuels marine department expand with River Marine’s employees being integrated into the business in the coming months.

ON BEHALF OF THE BOARD:





N J Goodwin - Director


22 October 2024

Standard Group Holdings Limited (Registered number: 11250127)

Report of the Directors
for the Year Ended 31 March 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

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 £600,000 - 31 March 2024
B shares £100,000 - 31 March 2024
C shares £300,000 - 31 March 2024
D shares £600,000 - 31 March 2024
E shares £72,850 - 31 March 2024

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2024 will be £1,672,850

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 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 2024


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


22 October 2024

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 2024 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 2024 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

22 October 2024

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 3 237,761,350 253,965,205

Cost of sales 222,773,849 235,721,752
GROSS PROFIT 14,987,501 18,243,453

Administrative expenses 5,183,343 4,460,491
9,804,158 13,782,962

Other operating income 9,400 13,200
OPERATING PROFIT 5 9,813,558 13,796,162

Interest receivable and similar income 774,402 139,968
10,587,960 13,936,130

Interest payable and similar expenses 7 7,891 1,863
PROFIT BEFORE TAXATION 10,580,069 13,934,267

Tax on profit 8 2,714,608 2,729,739
PROFIT FOR THE FINANCIAL YEAR 7,865,461 11,204,528
Profit attributable to:
Owners of the parent 7,865,461 11,204,528

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Other Comprehensive Income
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

PROFIT FOR THE YEAR 7,865,461 11,204,528


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

7,865,461

11,204,528

Total comprehensive income attributable to:
Owners of the parent 7,865,461 11,204,528

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 452,361 -
Tangible assets 12 2,404,524 2,210,298
Investments 13 - -
2,856,885 2,210,298

CURRENT ASSETS
Stocks 14 200,257 315,736
Debtors 15 22,859,529 17,317,253
Cash at bank 34,869,501 31,973,386
57,929,287 49,606,375
CREDITORS
Amounts falling due within one year 16 21,610,979 19,129,188
NET CURRENT ASSETS 36,318,308 30,477,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,175,193

32,687,485

CREDITORS
Amounts falling due after more than one
year

17

(285,426

)

(61,063

)

PROVISIONS FOR LIABILITIES 20 (438,898 ) (368,164 )
NET ASSETS 38,450,869 32,258,258

CAPITAL AND RESERVES
Called up share capital 21 112 112
Merger relief 22 11,166,889 11,166,889
Merger reserve 22 (11,166,889 ) (11,166,889 )
Retained earnings 22 38,450,757 32,258,146
38,450,869 32,258,258

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





N J Goodwin - Director


Standard Group Holdings Limited (Registered number: 11250127)

Company Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 13,161,958 11,167,189
13,161,958 11,167,189

CURRENT ASSETS
Debtors 15 111 111

CREDITORS
Amounts falling due within one year 16 1,788,010 18,175
NET CURRENT LIABILITIES (1,787,899 ) (18,064 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,374,059

11,149,125

CREDITORS
Amounts falling due after more than one
year

17

229,447

-
NET ASSETS 11,144,612 11,149,125

CAPITAL AND RESERVES
Called up share capital 21 112 112
Retained earnings 22 11,144,500 11,149,013
11,144,612 11,149,125

Company's profit for the financial year 1,668,337 2,326,650

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 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 2024

Called up
share Retained Merger Merger Total
capital earnings relief reserve equity
£    £    £    £    £   
Balance at 1 April 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 - 11,204,528 - - 11,204,528
Balance at 31 March 2023 112 32,258,146 11,166,889 (11,166,889 ) 32,258,258

Changes in equity
Dividends - (1,672,850 ) - - (1,672,850 )
Total comprehensive income - 7,865,461 - - 7,865,461
Balance at 31 March 2024 112 38,450,757 11,166,889 (11,166,889 ) 38,450,869

Standard Group Holdings Limited (Registered number: 11250127)

Company Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 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

Changes in equity
Dividends - (1,672,850 ) (1,672,850 )
Total comprehensive income - 1,668,337 1,668,337
Balance at 31 March 2024 112 11,144,500 11,144,612

Standard Group Holdings Limited (Registered number: 11250127)

Consolidated Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 9,468,490 12,566,557
Interest element of hire purchase payments
paid

(7,891

)

(1,863

)
Tax paid (4,022,945 ) (3,238,674 )
Net cash from operating activities 5,437,654 9,326,020

Cash flows from investing activities
Purchase of tangible fixed assets (1,002,227 ) (517,024 )
Sale of tangible fixed assets 40,999 -
Purchase of investment (net of cash) (228,566 ) -
Interest received 774,402 139,968
Net cash from investing activities (415,392 ) (377,056 )

Cash flows from financing activities
Capital repayments in year (2,856 ) (20,301 )
Amount withdrawn by directors (450,441 ) -
Equity dividends paid (1,672,850 ) (2,330,500 )
Net cash from financing activities (2,126,147 ) (2,350,801 )

Increase in cash and cash equivalents 2,896,115 6,598,163
Cash and cash equivalents at beginning
of year

2

31,973,386

25,375,223

Cash and cash equivalents at end of year 2 34,869,501 31,973,386

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
£    £   
Profit before taxation 10,580,069 13,934,267
Depreciation charges 803,903 641,619
Profit on disposal of fixed assets (10,138 ) -
Finance costs 7,891 1,863
Finance income (774,402 ) (139,968 )
10,607,323 14,437,781
Decrease in stocks 115,479 442,217
(Increase)/decrease in trade and other debtors (2,933,066 ) 3,507,739
Increase/(decrease) in trade and other creditors 1,678,754 (5,821,180 )
Cash generated from operations 9,468,490 12,566,557

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 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 34,869,501 31,973,386
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 31,973,386 25,375,223


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 31,973,386 2,896,115 34,869,501
31,973,386 2,896,115 34,869,501
Debt
Finance leases (63,919 ) 2,856 (61,063 )
(63,919 ) 2,856 (61,063 )
Total 31,909,467 2,898,971 34,808,438

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2024


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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 and 15% 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.

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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.

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:

31.3.24 31.3.23
£    £   
Sale of goods 237,761,350 253,965,205
237,761,350 253,965,205

4. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 2,115,646 1,833,612
Social security costs 232,324 204,167
Other pension costs 98,784 79,280
2,446,754 2,117,059

The average number of employees during the year was as follows:
31.3.24 31.3.23

Directors 5 5
Administration 8 5
Distribution 23 23
Sales 8 -
Cleaning 1 8
45 41

The average number of employees by undertakings that were proportionately consolidated during the year was 45 (2023 - 42 ) .

31.3.24 31.3.23
£    £   
Directors' remuneration 375,691 321,904
Directors' pension contributions to money purchase schemes 35,300 22,583

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


4. EMPLOYEES AND DIRECTORS - continued

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

Money purchase schemes 5 5

Information regarding the highest paid director is as follows:
31.3.24 31.3.23
£    £   
Emoluments etc 48,484 47,501
Pension contributions to money purchase schemes 10,193 2,139

5. OPERATING PROFIT

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

31.3.24 31.3.23
£    £   
Other operating leases 34,944 25,187
Depreciation - owned assets 769,141 640,684
Depreciation - assets on hire purchase contracts 15,272 935
Profit on disposal of fixed assets (10,138 ) -
Goodwill amortisation 19,668 -
Foreign exchange differences 16,538 4,374

6. AUDITORS' REMUNERATION
31.3.24 31.3.23
£    £   
Fees payable to the company's auditors and their associates for the audit
of the company's financial statements

28,200

15,925
Taxation compliance services 1,775 250

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Hire purchase 7,891 1,863

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 2,592,116 2,647,005
Corporation tax under/(over) (274 ) -
Corporation tax interest 52,032 7,867
Total current tax 2,643,874 2,654,872

Deferred tax 70,734 74,867
Tax on profit 2,714,608 2,729,739

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


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:

31.3.24 31.3.23
£    £   
Profit before tax 10,580,069 13,934,267
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

2,645,017

2,647,511

Effects of:
Expenses not deductible for tax purposes 15,256 9,547
Capital allowances in excess of depreciation - (27,806 )
Depreciation in excess of capital allowances 2,795 -
Adjustments to tax charge in respect of previous periods (274 ) -
Interest on tax 52,032 7,867
Change in tax rate - 92,620
Marginal relief (218 ) -
Total tax charge 2,714,608 2,729,739

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. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions 472,029
At 31 March 2024 472,029
AMORTISATION
Amortisation for year 19,668
At 31 March 2024 19,668
NET BOOK VALUE
At 31 March 2024 452,361

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


12. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 447,126 3,885,551 125,000 175,525 4,633,202
Additions - 1,002,227 - - 1,002,227
Disposals - (17,157 ) - (51,999 ) (69,156 )
Reclassification/transfer - - 24,099 - 24,099
At 31 March 2024 447,126 4,870,621 149,099 123,526 5,590,372
DEPRECIATION
At 1 April 2023 15,680 2,278,748 73,800 54,676 2,422,904
Charge for year 3,920 743,619 10,873 26,001 784,413
Eliminated on disposal - (10,059 ) - (28,236 ) (38,295 )
Reclassification/transfer - - 16,826 - 16,826
At 31 March 2024 19,600 3,012,308 101,499 52,441 3,185,848
NET BOOK VALUE
At 31 March 2024 427,526 1,858,313 47,600 71,085 2,404,524
At 31 March 2023 431,446 1,606,803 51,200 120,849 2,210,298

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 62,022
DEPRECIATION
At 1 April 2023 935
Charge for year 15,272
At 31 March 2024 16,207
NET BOOK VALUE
At 31 March 2024 45,815
At 31 March 2023 61,087

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1 April 2023 11,167,189
Additions 1,994,769
At 31 March 2024 13,161,958
NET BOOK VALUE
At 31 March 2024 13,161,958
At 31 March 2023 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.

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
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 37,836,451 31,792,106
Profit for the year 7,717,195 11,222,707

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
31.3.24 31.3.23
£    £   
Aggregate capital and reserves (142,736 ) (129,250 )
Loss for the year (13,486 ) (19,055 )

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


13. FIXED ASSET INVESTMENTS - continued

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
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 618,218 613,471
Profit for the year 4,847 4,729

River Marine Fuels Ltd
Registered office: Carlton House, Gores Road, Knowsley Industrial Estate, Liverpool, Merseyside, L33 7XS
Nature of business: Dealers of wholesale marine fuel
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.8.23
£    £   
Aggregate capital and reserves 1,703,720 1,504,172
Profit for the period/year 199,548 560,183


14. STOCKS

Group
31.3.24 31.3.23
£    £   
Stocks 200,257 315,736

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Trade debtors 21,606,645 16,349,202 - -
Other debtors 56,572 63,723 111 111
Marine duty 137,517 507,252 - -
Tax debtor 201,027 49,003 - -
Directors' current accounts 601,219 150,778 - -
Prepayments and accrued income 256,549 197,295 - -
22,859,529 17,317,253 111 111

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Hire purchase contracts (see note 18) 5,084 2,856 - -
Trade creditors 20,735,709 17,320,948 - -
Amounts owed to group undertakings - - 1,554,265 14,376
Tax 253,623 1,320,293 - -
Social security and other taxes 72,500 47,277 - -
Pensions 18,123 16,645 - -
VAT 117,015 225,975 - -
Other creditors 291,881 62,278 229,745 299
Accruals and deferred income 117,044 132,916 4,000 3,500
21,610,979 19,129,188 1,788,010 18,175

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

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Hire purchase contracts (see note 18) 55,979 61,063 - -
Other creditors 229,447 - 229,447 -
285,426 61,063 229,447 -

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.3.24 31.3.23
£    £   
Gross obligations repayable:
Within one year 10,747 10,747
Between one and five years 60,621 71,188
71,368 81,935

Finance charges repayable:
Within one year 5,663 7,891
Between one and five years 4,642 10,125
10,305 18,016

Net obligations repayable:
Within one year 5,084 2,856
Between one and five years 55,979 61,063
61,063 63,919

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


18. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 21,086 9,078
Between one and five years 44,902 22,003
65,988 31,081

The total lease payments recognised as an expenses in the year was £34,944 (2023: £25,187).

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
31.3.24 31.3.23
£    £   
Hire purchase contracts 61,063 63,919

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

20. PROVISIONS FOR LIABILITIES

Group
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 438,898 368,164

Group
Deferred
tax
£   
Balance at 1 April 2023 368,164
Charge to Income Statement during year 70,734
Balance at 31 March 2024 438,898

21. 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

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


22. RESERVES

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

At 1 April 2023 32,258,146 11,166,889 (11,166,889 ) 32,258,146
Profit for the year 7,865,461 7,865,461
Dividends (1,672,850 ) (1,672,850 )
At 31 March 2024 38,450,757 11,166,889 (11,166,889 ) 38,450,757

Company
Retained
earnings
£   

At 1 April 2023 11,149,013
Profit for the year 1,668,337
Dividends (1,672,850 )
At 31 March 2024 11,144,500

Included within retained earnings is a merger reserve of £11,166,889 (2023: £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.

23. PENSION COMMITMENTS

The group operates a defined benefit contribution scheme. During the year costs of the scheme amounted to £98,784 (2023: £79,290).

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M D Goodwin
Balance outstanding at start of year 75,000 75,000
Amounts advanced 150,147 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 225,147 75,000

N J Goodwin
Balance outstanding at start of year 75,014 75,014
Amounts advanced 150,147 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 225,161 75,014

Standard Group Holdings Limited (Registered number: 11250127)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024


24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

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

G C Goodwin
Balance outstanding at start of year - -
Amounts advanced 150,147 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 150,147 -

25. 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)
31.3.24 31.3.23
£    £   
Amount due from related party 601,218 150,778

During the year, a total of key management personnel compensation of £432,248 (2023: £352,487) was paid.