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REGISTERED NUMBER: 00307357 (England and Wales)















Stokers Limited

Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 30 April 2025






Stokers Limited (Registered number: 00307357)






Contents of the Financial Statements
for the year ended 30 April 2025




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 9

Income Statement 12

Other Comprehensive Income 13

Balance Sheet 14

Statement of Changes in Equity 15

Cash Flow Statement 16

Notes to the Cash Flow Statement 17

Notes to the Financial Statements 18


Stokers Limited

Company Information
for the year ended 30 April 2025







DIRECTORS: JN Stoker
SG Schofield





SECRETARY: JN Stoker





REGISTERED OFFICE: 277 Wennington Road
Southport
Merseyside
PR9 7TW





REGISTERED NUMBER: 00307357 (England and Wales)





AUDITORS: McMillan & Co LLP
Chartered Accountants and
Statutory Auditor
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Stokers Limited (Registered number: 00307357)

Strategic Report
for the year ended 30 April 2025

The directors present their strategic report for the year ended 30 April 2025.

The company is a member of the Stokers Holdings Limited group of companies and the Group manages its operations on a divisional basis and for a further understanding of the business as a whole reference should be made to the consolidated financial statements and the group's strategic report.

REVIEW OF BUSINESS
Stokers Limited primary objective is to be the best independent furniture business in the country by providing quality products at the very best price with excellent customer service, and to achieve this in a family run business with highly qualified and motivated staff. We will achieve this goal by investing in our people, our stores, and our products. We constantly train and evaluate all our staff, so they consistently achieve some of the best performance criteria in the industry. We maintain high standards in our stores with regular refurbishment of displays and premises.

Our buyers are some of the leading figures in the industry, selecting the best products from around the globe and, with our purchasing power, excellent value for money is always achieved. The long-term objective is to bring this level of service to more consumers around the country by expanding into areas not already served by one of our existing stores. The Stokers Group continues to seek further expansion opportunities either by acquiring businesses, sites, or suitable premises in future years.

In what is a very challenging retail market, the company continues to maintain a very strong balance sheet with net assets of over £21m (2024: £20m). Cash remains steady at £2.1m (2024: £2.5m) and the company can call upon over £14m of cash from the parent company at any point.

For this reason, the directors are confident that the company can maintain its expansion plans and at the same time weather any storms the UK economy may endure.

The company has always recognised the importance of minimising its' impact upon the environment and has done and will continue to seek ways to reduce its carbon footprint. The company commissioned a full energy performance review and the results of this are included in this report.

The company would like to thank all of its employees for their hard work and dedication over the past few challenging years. The directors believe that their commitment and the strength of the group's finances make the company well-prepared for future growth and continued profitability.

KEY PERFORMANCE INDICATORS

The directors monitor the performance of the company on the following Key Performance Indicators ("KPI's") - sales, profit margins, overall company profitability and cash generated.

2025 2024
Sales £59.4m £61.0m
Gross profit margin 37.9% 38.3%
Operating profit margin 6.9% 7.3%
Operating profits £4.1m £4.4m
Bank and cash balances at year end £2.1m £2.5m
Net assets £21.4m £20.6m


Stokers Limited (Registered number: 00307357)

Strategic Report
for the year ended 30 April 2025

SECTION 172(1) STATEMENT
Introduction
As directors we are committed to promoting the success of the company for the benefit of the Group as a whole. In doing so, we have regard to the matters set out in Section 172(1) of the Companies Act 2006.

Long-Term Decision Making
We consider the likely consequences of our decisions in the long term. This includes evaluating the sustainability of our business model, investing in innovation, and ensuring that our strategic plans align with our long-term goals.

Employee Interests
Our employees are our most valuable asset. We strive to create a positive working environment, offer opportunities for professional development, and ensure fair treatment and equal opportunities for all.

The board addresses the employees in forums to update them on the company's performance and to enable employees to put forward comments and feedback together with any suggestions for change.

Business Relationships
We recognise the importance of fostering strong relationships with our suppliers, customers, and other stakeholders. We engage in regular dialogue with our partners to ensure mutual benefit and long-term collaboration.

Regular supply meetings take place where any feedback on quality, delivery and payment times can be discussed openly and honestly.

Community and Environment
We are committed to minimising our environmental impact and contributing positively to the communities in which we operate. This includes implementing sustainable practices and supporting local initiatives or charities for example wherever possible.

High Standards of Business Conduct
Maintaining a reputation for high standards of business conduct is crucial to our success. We adhere to ethical practices, comply with all relevant regulations, and promote a culture of integrity within the company.

Fairness Between Members
The Directors and their families between them own 100% of the shares of Stokers Holdings Limited, the parent undertaking, and as such the shareholders of Stokers Holdings Limited hold an implicit knowledge of the decisions made by the Directors.

Conclusion
The directors are dedicated to promoting the success of the company while considering the broader impact of our actions on employees, business partners, the community, and the environment.


Stokers Limited (Registered number: 00307357)

Strategic Report
for the year ended 30 April 2025

PRINCIPAL RISKS AND UNCERTAINTIES
At the present time the directors and management are faced with these principal risks to the business;

- The performance of the economy is the single biggest risk facing the business. The continued cost pressures imposed by this new government have had and will continue to lead to inflationary pressures and likely increased unemployment. This will hamper growth in the demand of discretionary spending on big ticket items.

- The ability to employ suitable staff is still a significant problem in the economy. Driven by fallout of the failed Brexit policies of the previous government, the underinvestment in education and the failed apprenticeship schemes, the directors are concerned that this may remain a long-term issue. Wherever possible the company will train internally and promote productivity to counter this issue.

- Cost pressures imposed by fiscal taxes and legislative wage controls create a continued need to adapt processes and systems to become more productive and streamlined as a business.

However, the directors believe that the company is well placed to cope with these issues. The Group has a strategy to own all its stores and warehouses wherever possible which allows for a low level of operating costs compared to other retailers. In line with this the group always strives to maintain a significant cash reserve, a substantial part of which will always be available to the company, and which would allow it to trade through any downturn in the economic cycle.

Taking all of the above factors into consideration, the company does not consider itself to be exposed to any significant going concern, liquidity risk or other such risks.

Reference should be made to the Group's report and financial statements for those risks affecting the Group as a whole.

ON BEHALF OF THE BOARD:





JN Stoker - Secretary


11 August 2025

Stokers Limited (Registered number: 00307357)

Report of the Directors
for the year ended 30 April 2025

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the retailing of furniture, carpets and other household products in the UK. There have not been any significant changes in the company's principal activities in the year and neither do the directors anticipate any significant changes in the future.

DIVIDENDS
A dividend was paid to the parent undertaking during the year of £2.5m (2024: £6m).

FUTURE DEVELOPMENTS
The company intends to continue with the policies that have proven to be successful so far and it will continue to search for opportunities to grow in the medium to long term.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2024 to the date of this report.

JN Stoker
SG Schofield

Mr JN Stoker and Mr SG Schofield are also directors of the holding company, Stokers Holdings Limited.

ENVIRONMENTAL
The company recognises the importance of its environmental responsibilities, monitors its impact on the environment and designs and implements policies to reduce any damage that might be caused by the company's activities. Such initiatives include the recycling of as much packaging material and other items as practically possible and reducing energy consumption, particularly within the stores.

MODERN SLAVERY STATEMENT
The company's policy regarding Modern Slavery is set out and regularly updated on our website. This policy statement applies to all persons working for us or on our behalf in any capacity, including employees at all levels, directors, officers, agency workers, seconded workers, volunteers, agents, contractors and suppliers. Stokers Limited strictly prohibits the use of modern slavery and human trafficking in our operations and supply chain. We have and will continue to be committed to implementing systems and controls aimed at ensuring that modern slavery is not taking place anywhere within our organisation or in any of our supply chains. We expect that our suppliers will hold their own suppliers to the same high standards.

ENGAGEMENT WITH EMPLOYEES
Details of the number of employees and related costs are included within the notes to the financial statements.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of an employee becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training and support is given. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees.

The company participates in the group's policies and practices to keep employees informed on matters relevant to them as employees and economic factors affecting the company's performance through regular meetings and other communications. Employee representatives are consulted regularly on a wide range of matters affecting their interests. The company encourages employee involvement in its performance through incentive schemes.

The company operates a group personal pension scheme for the benefit of all eligible employees who wish to join. Employer contributions are between 3 and 5% of earnings dependent upon individual circumstances.



Stokers Limited (Registered number: 00307357)

Report of the Directors
for the year ended 30 April 2025


STREAMLINED ENERGY AND CARBON REPORTING
Stokers Limited's greenhouse gas emissions, reportable under the Streamlined Energy and Carbon Reporting (SECR) for the year ended 30 April 2025 were 1,014 tonnes CO2e and this compares to 1,041 tonnes CO2e for the previous year - a reduction of 27 tonnes CO2e. These include the emissions associated with electricity, natural gas consumption, and business travel in company and private vehicles by employees.

In accordance with the legislation an intensity ratio has been calculated, and for Stokers Limited this is 17.1 tonnes CO2e per £m of revenues and this compares to 17.1 tonnes CO2e per £m revenue for the previous year.

Greenhouse gas emissions
Greenhouse gas emissions for the year 2024/25 expressed in tonnes CO2e ("tCO2e") totalled 1,014 on revenues of £59.4m compared to 1,041 on revenues of £61.0m for 2023/24. This can be broken down as;

2025 2024


tCO2e
% of
total


tCO2e
% of
total
- Natural gas 290 29 285 27
- Transportation Fuel 380 37 344 33
- Electricity 344 34 412 40

The company's critical intensity ratios are;
2025 2024

tCO2e per
£m

tCO2e per
£m

- Revenue intensity ratio 17.1 17.1

tCO2e per
sqm

tCO2e per
sqm

- Area intensity ratio 0.013 0.019

The breakdown of greenhouse gas emissions by scope for the year 2024/25 and 2023/24 expressed in tonnes CO2e were;

2025 2024


tCO2e
% of
total


tCO2e
% of
total
- Natural gas and company-operated transport 671 66 629 60
- Electricity 310 31 376 36

-
Losses from electricity distribution and
transmission


33

3


36

4

This only includes emissions reportable under SECR and may not reflect the entire carbon footprint of the organisation.


Energy consumption
Energy consumption by year (kWh) and by Emissions source;
2025 2024


kWh
% of
total


kWh
% of
total
- Natural gas 1,589,459 32 1,556,772 31
- Transportation Fuel 1,585,732 32 1,440,795 29
- Electricity (purchased) 1,755,081 36 1,992,897 40
Total Energy Consumption 4,930,272 4,990,466


There was a saving of 60,194 KWh (2023/24: 454,008 KWh).


Stokers Limited (Registered number: 00307357)

Report of the Directors
for the year ended 30 April 2025

Boundary, methodology and exclusions
An 'operational control' approach has been used to define the Greenhouse Gas emissions boundary. This approach captures emissions associated with the operation of all buildings such as warehouses, offices, and manufacturing sites, plus company-owned and leased transport. This report covers UK operations only, as required by SECR for Non-Quoted Large Companies.

This information was collected and reported in line with the methodology set out in the UK Government's Environmental Reporting Guidelines, 2019 as well as the GHG Reporting Protocol - Corporate Standard. Emissions have been calculated using the latest conversion factors provided by the UK Government. There are no material omissions from the mandatory reporting scope. The reporting period is for the years ended 30 April 2025 and 30 April 2024 as per the financial statements.

Energy efficiency initiatives
The company has been pro-active in the throughout both 2024/25 and 2023/24 reporting periods and the directors set out below some of the energy efficiency initiatives that the company has been undertaking:



-
LED fittings retrofit: We have an ongoing plan to replace old fluorescent tubes with LED alternatives as
they fail. Similarly the directors we are also looking to install motion detectors to the lighting whenever
practicable.

-
Solar PV installation: The company continues the roll out of PV at its stores and further installations are
planned for the coming years as the company continues to reduce its electricity consumption.


-
Delivery vehicle upgrade: We are continuing to replace our older Euro 4 and 5 deliver vehicles with
new Euro 6 vehicles and will continue to look at reducing the size and weight of our vehicles, giving
greater mpg, where we can.


STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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). 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;
-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 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.

Stokers Limited (Registered number: 00307357)

Report of the Directors
for the year ended 30 April 2025


AUDITORS
The auditors, McMillan & Co LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:



JN Stoker - Secretary


11 August 2025

Report of the Independent Auditors to the Members of
Stokers Limited

Opinion
We have audited the financial statements of Stokers Limited (the 'company') for the year ended 30 April 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 30 April 2025 and of its 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 company 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 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 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 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 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
Stokers Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 seven, 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 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 company or to cease operations, or have no realistic alternative but to do so.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

Report of the Independent Auditors to the Members of
Stokers Limited


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships, and
- tested journal entries to identify unusual transactions,

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

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.




Andrea Gerring FCA (Senior Statutory Auditor)
for and on behalf of McMillan & Co LLP
Chartered Accountants and
Statutory Auditor

11 August 2025

Stokers Limited (Registered number: 00307357)

Income Statement
for the year ended 30 April 2025

2025 2024
Notes £ £ £ £

TURNOVER 3 59,371,110 61,010,164

Cost of sales 36,861,726 37,636,537
GROSS PROFIT 22,509,384 23,373,627

Distribution costs 13,591,391 13,067,564
Administrative expenses 5,048,130 6,056,148
18,639,521 19,123,712
3,869,863 4,249,915

Other operating income 212,738 194,818
OPERATING PROFIT 5 4,082,601 4,444,733

Income from shares in group
undertakings

26,010

1,933,883
Interest receivable and similar income 143,733 230,579
169,743 2,164,462
4,252,344 6,609,195
Amounts written off investments 6 26,010 1,723,890
4,226,334 4,885,305

Interest payable and similar expenses 7 - 9,496
PROFIT BEFORE TAXATION 4,226,334 4,875,809

Tax on profit 8 872,826 1,168,919
PROFIT FOR THE FINANCIAL YEAR 3,353,508 3,706,890

Stokers Limited (Registered number: 00307357)

Other Comprehensive Income
for the year ended 30 April 2025

2025 2024
Notes £ £

PROFIT FOR THE YEAR 3,353,508 3,706,890


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,353,508

3,706,890

Stokers Limited (Registered number: 00307357)

Balance Sheet
30 April 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 - 21,195
Tangible assets 11 4,592,431 3,889,182
Investments 12 106 26,119
4,592,537 3,936,496

CURRENT ASSETS
Stocks 13 9,167,747 8,390,128
Debtors 14 20,872,237 19,915,110
Cash at bank and in hand 2,144,681 2,521,925
32,184,665 30,827,163
CREDITORS
Amounts falling due within one year 15 14,670,674 13,510,942
NET CURRENT ASSETS 17,513,991 17,316,221
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,106,528

21,252,717

CREDITORS
Amounts falling due after more than one
year

16

(6

)

(9

)

PROVISIONS FOR LIABILITIES 18 (698,772 ) (698,466 )
NET ASSETS 21,407,750 20,554,242

CAPITAL AND RESERVES
Called up share capital 19 431,709 431,709
Capital redemption reserve 20 68,291 68,291
Retained earnings 20 20,907,750 20,054,242
SHAREHOLDERS' FUNDS 21,407,750 20,554,242

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2025 and were signed on its behalf by:




JN Stoker - Director



SG Schofield - Director


Stokers Limited (Registered number: 00307357)

Statement of Changes in Equity
for the year ended 30 April 2025

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£ £ £ £
Balance at 1 May 2023 431,709 22,347,352 68,291 22,847,352

Changes in equity
Dividends - (6,000,000 ) - (6,000,000 )
Total comprehensive income - 3,706,890 - 3,706,890
Balance at 30 April 2024 431,709 20,054,242 68,291 20,554,242

Changes in equity
Dividends - (2,500,000 ) - (2,500,000 )
Total comprehensive income - 3,353,508 - 3,353,508
Balance at 30 April 2025 431,709 20,907,750 68,291 21,407,750

Stokers Limited (Registered number: 00307357)

Cash Flow Statement
for the year ended 30 April 2025

2025 2024
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 5,100,560 3,035,384
Interest paid - (9,496 )
Tax paid (245,818 ) (1,327,004 )
Net cash from operating activities 4,854,742 1,698,884

Cash flows from investing activities
Purchase of intangible fixed assets - (3,090 )
Purchase of tangible fixed assets (1,310,917 ) (1,045,400 )
Sale of tangible fixed assets 13,300 7,033
Sale of fixed asset investments 3 -
Assets transferred to parent company - 290,627
Interest received 143,733 230,579
Dividends received 26,010 1,933,883
Net cash from investing activities (1,127,871 ) 1,413,632

Cash flows from financing activities
Funding group entities (1,604,115 ) (2,115,445 )
Dividends paid to parent (2,500,000 ) (6,000,000 )
Net cash from financing activities (4,104,115 ) (8,115,445 )

Decrease in cash and cash equivalents (377,244 ) (5,002,929 )
Cash and cash equivalents at
beginning of year

2

2,521,925

7,524,854

Cash and cash equivalents at end of
year

2

2,144,681

2,521,925

Stokers Limited (Registered number: 00307357)

Notes to the Cash Flow Statement
for the year ended 30 April 2025

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

2025 2024
£ £
Profit before taxation 4,226,334 4,875,809
Depreciation charges 628,863 512,208
Profit on disposal of fixed assets (13,300 ) (7,033 )
Impairment provision - 1,723,890
Finance costs - 9,496
Finance income (169,743 ) (2,164,462 )
4,672,154 4,949,908
(Increase)/decrease in stocks (777,619 ) 184,964
Decrease/(increase) in trade and other debtors 672,998 (33,820 )
Increase/(decrease) in trade and other creditors 533,027 (2,065,668 )
Cash generated from operations 5,100,560 3,035,384

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 30 April 2025
30/4/25 1/5/24
£ £
Cash and cash equivalents 2,144,681 2,521,925
Year ended 30 April 2024
30/4/24 1/5/23
£ £
Cash and cash equivalents 2,521,925 7,524,854


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/5/24 Cash flow At 30/4/25
£ £ £
Net cash
Cash at bank and in hand 2,521,925 (377,244 ) 2,144,681
2,521,925 (377,244 ) 2,144,681
Total 2,521,925 (377,244 ) 2,144,681

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements
for the year ended 30 April 2025

1. STATUTORY INFORMATION

Stokers 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.

The presentation currency of the financial statements is the Pound Sterling (£) and the amounts in the financial statements have been rounded to the nearest £1.

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.

During the year, certain expense categories were recategorised to improve user understanding. The comparatives have also been amended. There is no impact on operating profit.

Preparation of consolidated financial statements
The financial statements contain information about Stokers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Stokers Holdings Limited, Wennington Road, Southport, Merseyside.

Significant judgements and estimates
In determining the carrying amounts of certain assets and liabilities, the company makes calculated assumptions based on the effects of uncertain future events on those assets and liabilities at the balance sheet date. The company's estimates and assumptions are based on historical experience and expectations of future events and are reviewed periodically and updated to reflect current market conditions as required.

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

The financial statements include transactions at retail locations up to and including the nearest Saturday to 30 April each year.

Intangible fixed assets
Development costs in connection with the design and build of the company's e-commerce platform have been written off over their estimated useful economic life of four years.

Goodwill incurred on the acquisition of a business in 2015 was written off over its estimated useful economic life of six years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost

Assets in the course of construction at the reporting date are recognised at cost, which is based on the work done plus other direct costs incurred. No depreciation is charged on these assets until the period in which they are fully brought into use.

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. Other unlisted investments are stated at the lower of cost or net realisable value due to the nature of the investment.

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

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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. TURNOVER

For both this and the previous year, all of the turnover arose in the UK and all from the retail trade conducted by the company.

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

4. EMPLOYEES AND DIRECTORS
2025 2024
£ £
Wages and salaries 9,124,286 8,741,276
Social security costs 970,195 997,238
Other pension costs 510,505 472,664
10,604,986 10,211,178

The average number of employees during the year was as follows:
2025 2024

Directors, management and administration 47 49
Selling and distribution 197 200
244 249

2025 2024
£ £
Directors' remuneration - -

All directors remuneration is borne by the parent undertaking.

5. OPERATING PROFIT

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

2025 2024
£ £
Depreciation - owned assets 607,668 502,176
Profit on disposal of fixed assets (13,300 ) (7,033 )
Development costs amortisation 21,195 10,032
Auditors' remuneration 8,850 8,000
Auditors' remuneration for non audit work 9,750 8,250

6. AMOUNTS WRITTEN OFF INVESTMENTS
2025 2024
£ £
Impairment provision 26,010 1,723,890

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
£ £
Other interest payable - 9,496

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
£ £
Current tax:
UK corporation tax 872,520 995,818

Deferred tax 306 173,101
Tax on profit 872,826 1,168,919

UK corporation tax has been charged at 25% (2024 - 25%).

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

2025 2024
£ £
Profit before tax 4,226,334 4,875,809
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2024 - 25%)

1,056,584

1,218,952

Effects of:
Expenses not deductible for tax purposes 175 162
Depreciation and amortisation on non qualifying assets 7,383 2,508
Effect of enhanced deductions (191,316 ) (205 )
Effect of group dividends and group impairments - (52,498 )
Total tax charge 872,826 1,168,919

9. DIVIDENDS
2025 2024
£ £
Dividends paid 2,500,000 6,000,000

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

10. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£ £ £
COST
At 1 May 2024 457,360 347,202 804,562
Disposals (457,360 ) - (457,360 )
At 30 April 2025 - 347,202 347,202
AMORTISATION
At 1 May 2024 457,360 326,007 783,367
Amortisation for year - 21,195 21,195
Eliminated on disposal (457,360 ) - (457,360 )
At 30 April 2025 - 347,202 347,202
NET BOOK VALUE
At 30 April 2025 - - -
At 30 April 2024 - 21,195 21,195

11. TANGIBLE FIXED ASSETS
Assets in Fixtures
Leasehold course of and Motor
Improvements construction fittings vehicles Totals
£ £ £ £ £
COST
At 1 May 2024 - 13,225 8,801,605 1,782,465 10,597,295
Additions 510,175 - 590,206 210,536 1,310,917
Disposals - - (1,172 ) (302,914 ) (304,086 )
Transfer - (13,225 ) 13,225 - -
At 30 April 2025 510,175 - 9,403,864 1,690,087 11,604,126
DEPRECIATION
At 1 May 2024 - - 5,538,927 1,169,186 6,708,113
Charge for year 19,000 - 365,043 223,625 607,668
Eliminated on disposal - - (1,172 ) (302,914 ) (304,086 )
At 30 April 2025 19,000 - 5,902,798 1,089,897 7,011,695
NET BOOK VALUE
At 30 April 2025 491,175 - 3,501,066 600,190 4,592,431
At 30 April 2024 - 13,225 3,262,678 613,279 3,889,182


Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

12. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 May 2024 2,092,649
Disposals (3 )
At 30 April 2025 2,092,646
PROVISIONS
At 1 May 2024 2,066,530

Impairments 26,010
At 30 April 2025 2,092,540
NET BOOK VALUE
At 30 April 2025 106
At 30 April 2024 26,119

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


J.P. Lucas & Company Limited
Registered office: 277 Wennington Road, Southport
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00
Ordinary A and B 100.00
2025 2024
£ £
Aggregate capital and reserves 100 26,110

During the year J.P. Lucas & Company Limited paid a dividend of £26,010 (2024: £1,933,883) to the company and the investment in J.P. Lucas & Company Limited was impaired to reflect the reduced value of the net assets of that company.

In addition, the following wholly owned subsidiary companies, incorporated in England & Wales, were dormant throughout this and last year; Fredmans Limited, Doorway to Value Limited, Russell Dean Limited, W & T Nettleton Limited, Annetts Furniture World Limited and Christopher Pratts Limited. The aggregate capital and reserves of these companies was £6. During the year the following wholly owned subsidiary undertakings were dissolved; Gregory & Porritts Limited, In-Furniture Limited and Youngs Furnishers Limited. These subsidiary undertakings had capital and reserves of £3 on striking off.

13. STOCKS
2025 2024
£ £
Goods for resale 9,167,747 8,390,128

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

14. DEBTORS
2025 2024
£ £
Amounts falling due within one year:
Trade debtors 217,021 134,906
Amounts owed by group undertakings 5,882,076 4,251,951
Other debtors 854,684 1,669,157
Prepayments and accrued income 1,535,122 1,092,429
8,488,903 7,148,443

Amounts falling due after more than one year:
Amounts owed by group undertakings 12,000,000 12,000,000
Other debtors 383,334 766,667
12,383,334 12,766,667

Aggregate amounts 20,872,237 19,915,110

Included within other debtors is an amount of £766,667 (2024: £1,150,000) owing from the Stokers Retirement Benefits Scheme. This debt is being repaid at the rate of £383,333 pa and interest is charged at normal commercial rates. The directors of the company are also trustees of the Stokers Retirement Benefits Scheme.

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Payments on account 5,758,975 5,237,485
Trade creditors 6,450,084 6,686,513
Corporation tax 872,317 245,615
Social security and other taxes 251,167 223,645
VAT 276,644 190,390
Other creditors and accruals 1,061,487 927,294
14,670,674 13,510,942

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£ £
Amounts owed to subsidiary
companies 6 9
6 9

17. LEASING AGREEMENTS
The company leases certain premises from the Stokers Retirement Benefits Scheme and the current annual rental costs are £487,000 (2024: £487,000). These lease costs, lease periods and terms are agreed with the trustees and administrators of the pension scheme on a periodic basis and reflect a commercial market rate.

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

18. PROVISIONS FOR LIABILITIES
2025 2024
£ £
Deferred tax
Accelerated capital allowances 698,772 698,466

Deferred tax
£
Balance at 1 May 2024 698,466
Charge to Income Statement during year 306
Balance at 30 April 2025 698,772

Deferred tax has been provided using a tax rate of 25% (2022: 25%).

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £ £
431,709 Ordinary £1 431,709 431,709

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

20. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 May 2024 20,054,242 68,291 20,122,533
Profit for the year 3,353,508 3,353,508
Dividends (2,500,000 ) (2,500,000 )
At 30 April 2025 20,907,750 68,291 20,976,041

21. ULTIMATE PARENT COMPANY

The ultimate parent undertaking is Stokers Holdings Limited, a company registered in England & Wales, which holds the entire issued share capital of the company.

The parent undertaking of the largest and smallest group, which includes the company, and for which group financial statements are prepared is Stokers Holdings Limited.

Stokers Limited (Registered number: 00307357)

Notes to the Financial Statements - continued
for the year ended 30 April 2025

22. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions set out in FRS102 not to disclose transactions with members of the group headed by Stokers Holdings Limited on the grounds that 100% of the voting rights in the company are controlled within that group and the results of the company are included in the consolidated financial statements.

There is in place an unlimited multilateral cross company guarantee between the parent undertaking, Stokers Holdings Limited, and Stokers Limited in favour of the group's bank.

During the year the company paid rent to the Stokers Retirement Benefits Scheme of £487,000 (2024: £487,000) for the use of several premises from which the company trades. The rents paid were at a commercial market rate. Certain of the company's directors and management are also trustees of the Stokers Retirement Benefits Scheme.

23. ULTIMATE CONTROLLING PARTY

In the directors opinion the company is ultimately controlled by Mr JN Stoker and Mr SG Schofield by virtue of their shareholding in the ultimate parent undertaking.