REGISTERED NUMBER: 04671733 (England and Wales)

F D Statton & Son Limited

Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

A S Burdock

R Poskitt

T B Versterre

B O Jeewooth

SECRETARY:

B O Jeewooth

REGISTERED OFFICE:

Ings Road

Doncaster

South Yorkshire

DN5 9TL

REGISTERED NUMBER:

04671733 (England and Wales)

SENIOR STATUTORY AUDITOR:

Ian Parsons FCA

AUDITORS:

Paylings

Unit 2 Silkwood Park

Fryers Way

Ossett

West Yorkshire

WF5 9TJ

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

DIRECTORS

The directors who have held office during the period from 1 January 2024 to the date of this report are as follows:

A R Smith - resigned 31 July 2024

R V Ratcliffe - resigned 7 June 2024

A S Burdock - appointed 10 June 2024

R Poskitt - appointed 10 June 2024

T B Versterre - appointed 3 October 2024

B O Jeewooth was appointed as a director after 31 December 2024 but prior to the date of this report.

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

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

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

ON BEHALF OF THE BOARD:

B O Jeewooth - Director

30 April 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

492,382

582,558

492,382

582,558

CURRENT ASSETS

Stocks

5,966

1,223

Debtors

6

1,000,987

1,004,143

Cash at bank and in hand

9,182

4,830

1,016,135

1,010,196

CREDITORS

Amounts falling due within one year

7

53,913

75,733

NET CURRENT ASSETS

962,222

934,463

TOTAL ASSETS LESS CURRENT LIABILITIES

1,454,604

1,517,021

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,453,604

1,516,021

1,454,604

1,517,021

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:

B O Jeewooth - Director

1.	STATUTORY INFORMATION

F D Statton & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The presentational currency is GBP and the financial statements are rounded to the nearest pound.

Going concern

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

Related party exemption

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

Significant judgements and estimates

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

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

Turnover

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

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

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

Goodwill

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

Tangible fixed assets

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

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

Freehold property - 33 years straight line

Plant and machinery etc - 3 - 10 years straight line, 25% reducing balance (new motor vehicles) and 2 - 6 years

estimated remaining useful life (specific to used vehicles)

Stocks

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

Financial instruments

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

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

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

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

145,491

AMORTISATION

At 1 January 2024

and 31 December 2024

145,491

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

282,251

716,203

998,454

Additions

-

31,544

31,544

Disposals

-

(17,700

)

(17,700

)

At 31 December 2024

282,251

730,047

1,012,298

DEPRECIATION

At 1 January 2024

85,395

330,501

415,896

Charge for year

7,495

102,277

109,772

Eliminated on disposal

-

(5,752

)

(5,752

)

At 31 December 2024

92,890

427,026

519,916

NET BOOK VALUE

At 31 December 2024

189,361

303,021

492,382

At 31 December 2023

196,856

385,702

582,558

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

175,153

254,302

Amounts owed by group undertakings

769,410

710,118

Other debtors

56,424

39,723

1,000,987

1,004,143

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

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

22,485

14,061

Taxation and social security

12,029

41,243

Other creditors

19,399

20,429

53,913

75,733

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

-

11,384

9.	FINANCIAL INSTRUMENTS

2024

2023

£

£

Financial assets

Cash and cash equivalents

9,182

4,830

Financial assets that are debt instruments measured at amortised cost

1,000,987

1,004,143

Financial liabilities

Financial liabilities measured at amortised cost

(53,913

)

(75,732

)

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

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

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

The Report of the Auditors was unqualified.

Ian Parsons FCA (Senior Statutory Auditor)

for and on behalf of Paylings

11.	CAPITAL COMMITMENTS

2024

2023

£

£

Contracted but not provided for in the

financial statements

-

10,080

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

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

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

13.	ULTIMATE CONTROLLING PARTY

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

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