LCC Group Limited 31/03/2025 iXBRL

Company registration number: NI031142

LCC Group Limited

Financial statements

31 March 2025

LCC Group Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

LCC Group Limited

Directors and other information


Directors	Mr M C Loughran
	Mr M O Loughran
	Mr D Loughran
	Mrs G Quinn
	Mrs L Loughran	(Appointed 20 March 2025)


Secretary	Mr M C Loughran


Company number	NI031142


Registered office	16 Churchtown Road
	Cookstown
	Co Tyrone
	BT80 9XD


Auditor	ASM (D) Ltd
	79 Cunninghams lane
	Dungannon
	Co Tyrone
	BT71 6BX




	Bankers	Danske Bank
		Donegall Square West
		Belfast
		Co Antrim

		HSBC UK Bank Plc
		60 Queen Victoria Street
		London
		EC4N 4TR


	Solicitors	Millar McCall Wylie
		3rd Floor The Printworks
		35-39 Queen Street
		Belfast
		BT1 6EA

LCC Group Limited

Strategic report

Year ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

Review of business and future developments

The profit and loss account for the period is set out on page 11.

The company has continued to consolidate its position as a leading importer and distributor within the coal and oil market in the United Kingdom, Ireland and the wider European market. It continued its roll out of 'Go' formatted sites. The company is confident of the outlook in terms of sales and profits for the current year and continue to seek out new investment opportunities.

Key financial performance indicators are summarised below:

The below figures are presented to the nearest £'000

Turnover - 2025: 1,115,346 (2024: 1,246,353)

Gross profit - 2025: 41,763 (2024: 53,876)

Operating profit - 2025: 32,497 (2024: 44,201)

Net assets - 2025: 78,364 (2024: 141,902)

Financial risk management objectives and policies

The company's operations expose it to a variety of financial risks that include the effects of changes in debt market prices, credit risk, liquidity risk and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance cost. Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the company's finance department.

Price risk

The company is exposed to commodity price risk as a result of its operations. The company regularly monitors this and adopts suitable strategies to manage this risk. The company has no exposure to equity securities price risk as it holds no listed investments.

Foreign exchange risk

With the importation of coal and oil a substantial part of the company's revenues and expenses are denominated in currencies other than sterling and so the company is exposed to some foreign exchange risk in the normal course of business. The company's position with regard to its foreign exchange exposure and the use of any financial instruments to deal with this is kept under review by the directors.

Credit risk

The company has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is monitored by the board.

Liquidity risk

The company actively maintains a mixture of long-term and short-term debt finance that is designed to ensure the company has sufficient available funds for operations and planned expansions.

Interest rate cash flow risk

The company has both interest bearing assets and interest bearing liabilities, both of which bear interest at variable rates. The future cash flows of the company's operation are not sufficiently at risk due to interest rate changes to require funding at fixed rate. The appropriateness of this policy will be revisited should the company's operations change in size or nature.

Environment

The company recognises its corporate responsibility to carry out its operations whilst minimising environmental impacts. The directors' continued aim is to comply with all applicable environmental legislation, prevent pollution and reduce waste wherever possible.

Human resources

The company's most important resource is its people; their knowledge and experience is crucial to meeting customer requirements. Retention of key staff is critical and the company has invested in relevant employment training and development and has in place appropriate incentive and career progression arrangements.

Health and safety

The company is committed to achieving the highest practicable standards in health and safety management and strives to make all premises safe environments for employees and customers alike.

Dividends

Dividends of £89,761,367 were paid in the period (2024: £25,910,934). The directors do not recommend the payment of a final dividend.

Directors

The directors of the company during the period are shown on page 1.

Stakeholder Engagement and Section 172(1) statement

This section describes how the directors have had regard to the matters set out in section 172(1) (a) to (f) and forms the directors' statement required under the Companies (Miscellaneous Reporting) Regulations 2018.

The Board's approach is to ensure responsible and ethical business behaviour with the underlying principle that everyone working for LCC Group Limited , including the directors, must adhere to the highest standards of integrity, loyalty, fairness and confidentiality, including meeting all legal and regulatory requirements. Specific policies and procedures on the prevention, detection and investigation of fraud, bribery and corruption and modern slavery have been approved by the Board.

As part of the Board's role it seeks to ensure that it is cognisant of the long-term impact of any decisions. To that end, the Board periodically reviews the Company's strategy and regularly seeks updates on strategic issues which may impact the business.

Employees

Ensuring the health, safety and wellbeing of employees is the number one value at the core of LCC Group Limited's business operations, with the aim to provide a safe working environment where risks to health and safety are assessed and controlled. The Health and Safety manual of the company outlines the policies and procedures that all employees must adhere to. The Board approves the Health and Safety Policy and monitors safety performance on an ongoing basis.

Customers

LCC Group Limited's customers include local councils, government agencies and other retailers and oil distributors. These customer groups, and their various representative bodies, are key stakeholders with well-established engagement channels in place.

During the period the Board monitored customer service performance, receiving regular reports on customer key performance indicators, including on time delivery and customer satisfaction.

Suppliers

The Board recognises the key role suppliers play in ensuring LCC Group Limited delivers a reliable service to customers.

The Board ensures that formal contract management arrangements are in place throughout the duration of key supplier contracts.

Along with other members of the leadership team, the directors oversee the relationships with key suppliers and meet informally with key suppliers on occasions.

Community and environment

Through its mainstream business activities and various specific initiatives, LCC Group Limited seeks to make a positive impact on the communities in which it operates.

How stakeholders' interests have influenced decision making

LCC Group Limited recognises the importance of engaging with stakeholders to help inform strategy and Board decision-making. Relevant stakeholder interests, including those of employees, customers, suppliers and others are considered by the Board when it takes principal decisions. Principal decisions are those which are material, or of strategic importance, and those which are significant to any of LCC Group Limited 's key stakeholder groups.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mr D Loughran

Director

LCC Group Limited

Directors report

Year ended 31 March 2025

The directors present their report and the financial statements of the company for the year ended 31 March 2025.

Directors

The directors who served the company during the year were as follows:


Mr M C Loughran
Mr M O Loughran
Mr D Loughran
Mrs G Quinn
Mrs L Loughran				(Appointed 20 March 2025)

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Greenhouse gas emissions and energy consumption

	Unit	2025	2024
Emissions resulting from activities for which the company is responsible	tCO2e	3,874	3,773
		_______	_______
Total emissions	tCO2e	3,874	3,773
Total energy consumed	kWh	17,068,961	16,142,481
		_______	_______

Methodologies for energy and emissions calculations

Consumption and CO2e emission data has been calculated in line with the 2019 UK Government environmental reporting guidance, The Emission Factor Databases used are consistent with the 2019 UK Government environmental reporting guidance, utilising the current published kWh gross calorific value (CV) and kgCO2e emissions factors relevant for the period to 31 March 2025.Intensity metrics have been calculated utilising the 2025 reportable figures for units produced, and tCO2e for both individual sources and total emissions were then divided by this figure to determine the tCO2e per tonne.

Principal measures taken to increase energy efficiency

The company seeks to manage energy use efficiently across its operations, taking a proportionate and pragmatic approach that reflects the scale and nature of its activities. Energy efficiency is considered alongside wider operational performance, with the objective of using resources effectively while supporting business continuity and growth.

During the year, the company continued to monitor energy consumption and review operational practices, ensuring that energy use remained aligned with levels of business activity and operational requirements.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report 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 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 judgments and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mr D Loughran

Director

LCC Group Limited

Independent auditor's report to the members of

LCC Group Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of LCC Group Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and 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 FRS 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 31 March 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 auditor’s 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements.

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 directors' report. 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 the 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 directors' responsibilities statement, 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 is 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.

Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which they operate and considered the risk of acts by the Company that were contrary to appliable law and regulations, including fraud. We considered the opportunities and incentives that may exist within the Company for fraud and identified the greatest potential for fraud in the following areas: mismanagement of payments, posting of unusual journals together with complex transactions, revenue recognition and subjectivity of valuations used for land and buildings. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Our audit procedures included: enquires of management about their own identification and assessment of risks of irregularities, specific tests of detail over payments, sample testing of journals posted during the year, verifying the underlying assumptions adopted for the property valuations, specific tests of detail over revenue recognition and a review of areas of judgement for indicators of management bias to address the risks. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 auditor’s report.

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 an auditors report 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.

Alistair Cooke FCA (Senior Statutory Auditor)

For and on behalf of

ASM (D) Ltd

Chartered Accountants and Statutory Auditors

79 Cunninghams lane

Dungannon

Co Tyrone

BT71 6BX

26 September 2025

LCC Group Limited

Statement of comprehensive income

Year ended 31 March 2025

		2025	2024
	Note	£	£


Turnover	4	1,115,346,314	1,246,352,997
Cost of sales		( 1,073,591,153)	( 1,192,477,250)
		_______	_______
Gross profit		41,755,161	53,875,747

Administrative expenses		( 13,165,257)	( 11,423,500)
Other operating income	5	3,906,620	1,748,968
		_______	_______
Operating profit	6	32,496,524	44,201,215

Other interest receivable and similar income	9	4,363,611	1,470,833
Amounts written off investments	10	-	( 40,971)
Interest payable and similar expenses	11	( 1,141,947)	( 643,637)
		_______	_______
Profit before taxation		35,718,188	44,987,440

Tax on profit	12	( 9,495,572)	( 8,942,761)
		_______	_______
Profit for the financial year and total comprehensive income		26,222,616	36,044,679
		_______	_______

All the activities of the company are from continuing operations.

LCC Group Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	14	-		-
Tangible assets	15	55,928,160		48,794,460
		_______		_______
			55,928,160		48,794,460

Current assets
Stocks	16	55,843,811		34,892,454
Debtors	17	83,428,272		137,281,077
Cash at bank and in hand		125,514,578		148,727,019
		_______		_______
		264,786,661		320,900,550
Creditors: amounts falling due
within one year	18	( 223,209,733)		( 216,042,481)
		_______		_______
Net current assets			41,576,928		104,858,069
			_______		_______
Total assets less current liabilities			97,505,088		153,652,529

Creditors: amounts falling due
after more than one year	19		( 9,152,519)		( 5,088,148)

Provisions for liabilities	20		( 9,988,978)		( 6,662,039)

			_______		_______
Net assets			78,363,591		141,902,342
			_______		_______

Capital and reserves
Called up share capital	23		200,000		200,000
Profit and loss account	24		78,163,591		141,702,342
			_______		_______
Shareholders funds			78,363,591		141,902,342
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr D Loughran

Director

Company registration number: NI031142

LCC Group Limited

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2023	200,000	131,568,597	131,768,597

Profit for the year		36,044,679	36,044,679
	_______	_______	_______
Total comprehensive income for the year	-	36,044,679	36,044,679

Dividends paid and payable		( 25,910,934)	( 25,910,934)
	_______	_______	_______
Total investments by and distributions to owners	-	( 25,910,934)	( 25,910,934)

	_______	_______	_______
At 31 March 2024 and 1 April 2024	200,000	141,702,342	141,902,342

Profit for the year		26,222,616	26,222,616
	_______	_______	_______
Total comprehensive income for the year	-	26,222,616	26,222,616

Dividends paid and payable		( 89,761,367)	( 89,761,367)
	_______	_______	_______
Total investments by and distributions to owners	-	( 89,761,367)	( 89,761,367)

	_______	_______	_______
At 31 March 2025	200,000	78,163,591	78,363,591
	_______	_______	_______

LCC Group Limited

Statement of cash flows

Year ended 31 March 2025

	2025	2024
	£	£

Cash flows from operating activities
Profit for the financial year	26,222,616	36,044,679

Adjustments for:
Depreciation of tangible assets	7,540,402	5,135,464
Amounts written off investments	-	40,971
Other interest receivable and similar income	( 4,363,611)	( 1,470,833)
Interest payable and similar expenses	1,141,947	643,637
Gain/(loss) on disposal of tangible assets	21,661	( 630,867)
Tax on profit	9,495,572	8,942,761
Accrued expenses/(income)	( 525,107)	919,685

Changes in:
Stocks	( 20,951,357)	9,979,359
Trade and other debtors	53,852,805	( 42,324,761)
Trade and other creditors	( 11,512,327)	36,370,578
	_______	_______
Cash generated from operations	60,922,601	53,650,673

Interest paid	( 1,141,947)	( 643,637)
Interest received	4,363,611	1,470,833
Tax paid	( 4,750,000)	( 5,634,535)
	_______	_______
Net cash from operating activities	59,394,265	48,843,334
	_______	_______

Cash flows from investing activities
Purchase of tangible assets	( 24,749,478)	( 20,931,712)
Proceeds from sale of tangible assets	10,053,715	1,912,384
	_______	_______
Net cash used in investing activities	( 14,695,763)	( 19,019,328)
	_______	_______

Cash flows from financing activities
Proceeds from loans from group undertakings	43,550,635	( 5,843,594)
Proceeds from loans from participating interests	( 2,018,932)	4,116,156
Payment of finance lease liabilities	7,988,533	3,736,590
Equity dividends paid	( 89,761,367)	( 25,910,934)
	_______	_______
Net cash used in financing activities	( 40,241,131)	( 23,901,782)
	_______	_______

Net increase/(decrease) in cash and cash equivalents	4,457,371	5,922,224
Cash and cash equivalents at beginning of year	105,921,469	99,999,245
	_______	_______
Cash and cash equivalents at end of year	110,378,840	105,921,469
	_______	_______

LCC Group Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 16 Churchtown Road, Cookstown, Co Tyrone, BT80 9XD.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Property	-	2 %	straight line
Plant and machinery	-	15 %	straight line
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance
Lorries, pickups and tankers	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Rental income	337,382	327,236
Management charges receivable	841,792	942,558
Other operating income	2,727,446	479,174
	_______	_______
	3,906,620	1,748,968
	_______	_______

6. Operating profit

Operating profit is stated after charging/(crediting):

		2025	2024
		£	£
Depreciation of tangible assets		7,540,402	5,135,464
Auditor's renumeration
	audit work	65,000	64,000
	non-audit work	3,800	10,625
(Gain)/loss on disposal of tangible assets		21,661	( 630,867)
Impairment of trade debtors		(38,276)	16,887
Foreign exchange differences		16	-
		_______	_______

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
Processing	66	59
Sales and distribution	155	139
Administration	51	46
	_______	_______
	272	244
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	10,397,220	8,989,289
Social security costs	1,066,746	831,754
Other pension costs	397,767	329,541
	_______	_______
	11,861,733	10,150,584
	_______	_______

8. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	318,417	307,516
Company contributions to pension schemes in respect of qualifying services	18,674	25,075
	_______	_______
	337,091	332,591
	_______	_______

Remuneration of the highest paid directors in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	116,800	99,600
Company contributions to pension plans in respect of qualifying services	5,840	12,490
	_______	_______
	122,640	112,090
	_______	_______

9. Other interest receivable and similar income

	2025	2024
	£	£
Bank deposits	4,363,611	1,180,849
Other interest receivable and similar income	-	289,984
	_______	_______
	4,363,611	1,470,833
	_______	_______

10. Amounts written off investments

	2025	2024
	£	£
Amounts written off current asset investments	-	40,971
	_______	_______

11. Interest payable and similar expenses

		2025	2024
		£	£
Bank loans and overdrafts		339,040	334,689
Other loans made to the company:
	Finance leases and hire purchase contracts	802,907	308,948
		_______	_______
		1,141,947	643,637
		_______	_______

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	6,205,078	9,069,552
Adjustments in respect of previous periods	( 36,445)	( 2,493,919)
	_______	_______

Deferred tax:
Origination and reversal of timing differences	3,326,939	2,367,128
	_______	_______
Tax on profit	9,495,572	8,942,761
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is higher than (2024: lower than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	2025	2024
	£	£
Profit before taxation	35,718,188	44,987,440
	_______	_______

Profit multiplied by rate of tax	8,929,547	11,246,860
Adjustments in respect of prior periods	( 36,445)	( 2,493,919)
Effect of expenses not deductible for tax purposes	393,583	( 51,204)
Effect of capital allowances and depreciation	243,624	173,070
Special building allowance	( 33,155)	-
(under)/overprovision of deferred tax in prior year	-	54,347
(under)/overprovision of deferred tax in current year	-	18,990
Land remediation relief	(1,582)	(16,342)
capital gains tax	-	10,959
	_______	_______
Tax on profit	9,495,572	8,942,761
	_______	_______

13. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	89,761,367	25,910,934
	_______	_______

14. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	2,355,261	2,355,261
	_______	_______
Amortisation
At 1 April 2024 and 31 March 2025	2,355,261	2,355,261
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	-	-
	_______	_______

15. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Lorries, pickups & tankers	Total
	£	£	£	£	£	£
Cost
At 1 April 2024	15,411,953	41,917,304	1,729,278	606,740	17,510,119	77,175,394
Additions	4,282,499	12,579,609	161,453	183,847	7,542,070	24,749,478
Disposals	( 3,999,534)	( 8,280,871)	( 1,387)	( 136,818)	( 461,721)	( 12,880,331)
Transfers	-	( 51,750)	-	-	51,750	-
	_______	_______	_______	_______	_______	_______
At 31 March 2025	15,694,918	46,164,292	1,889,344	653,769	24,642,218	89,044,541
	_______	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	3,620,449	14,372,453	1,284,403	348,162	8,755,467	28,380,934
Charge for the year	921,518	3,465,125	106,230	88,049	2,959,480	7,540,402
Disposals	-	( 2,382,630)	( 989)	( 81,710)	( 339,626)	( 2,804,955)
Transfers	-	( 28,351)	-	-	28,351	-
	_______	_______	_______	_______	_______	_______
At 31 March 2025	4,541,967	15,426,597	1,389,644	354,501	11,403,672	33,116,381
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	11,152,951	30,737,695	499,700	299,268	13,238,546	55,928,160
	_______	_______	_______	_______	_______	_______
At 31 March 2024	11,791,504	27,544,851	444,875	258,578	8,754,652	48,794,460
	_______	_______	_______	_______	_______	_______

16. Stocks

	2025	2024
	£	£
Raw materials and consumables	721,905	685,131
Finished goods and goods for resale	55,121,906	34,207,323
	_______	_______
	55,843,811	34,892,454
	_______	_______

17. Debtors

	2025	2024
	£	£
Trade debtors	43,326,273	66,688,588
Amounts owed by group undertakings	23,577,896	20,044,764
Amounts owed by undertakings in which the company has a participating interest	1,120,171	1,835,519
Prepayments and accrued income	500,893	312,618
Other debtors	14,903,039	48,399,588
	_______	_______
	83,428,272	137,281,077
	_______	_______

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,135,738	42,805,550
Trade creditors	71,753,405	85,193,365
Amounts owed to group undertakings	99,748,768	56,198,133
Amounts owed to undertakings in which the company has a participating interest	2,116,927	4,135,859
Accruals and deferred income	13,725,084	14,250,193
Corporation tax	2,274,985	856,352
Social security and other taxes	10,054,379	8,186,653
Obligations under finance leases	7,920,481	3,996,319
Other creditors	479,966	420,059
	_______	_______
	223,209,733	216,042,483
	_______	_______

The company's loans and overdraft facilities are secured by a floating charge over the assets of LCC Group Limited plus unlimited intercompany cross guarantees in favour of LCC Power Limited, Lissan Coal Company (Ireland) Limited, LCC Power Limited and Lissan Coal Company SA. Letters of credit totalling £8,590,000 have been entered into with Danske Bank. In addition a letters of credit has been entered into with Danske Bank in favour of HM Revenue and Customs to the value of £1,400,000, and Gas Networks Ireland to the value of €7,661,986.50. Obligations under hire purchase contracts are secured on the assets for which the finance was originally obtained.

19. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases	9,152,519	5,088,148
	_______	_______

20. Provisions

	Deferred tax (note 21)	Total
	£	£
At 1 April 2024	6,662,039	6,662,039
Additions	3,326,939	3,326,939
	_______	_______
At 31 March 2025	9,988,978	9,988,978
	_______	_______

21. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 20)	9,988,978	6,662,039
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	9,988,978	6,662,039
	_______	_______

22. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 397,767 (2024: £ 329,541 ).

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary A shares shares of £ 1.00 each	20,000	20,000	20,000	20,000
Ordinary B shares shares of £ 1.00 each	90,000	90,000	90,000	90,000
Ordinary C shares shares of £ 1.00 each	90,000	90,000	90,000	90,000
	_______	_______	_______	_______
	200,000	200,000	200,000	200,000
	_______	_______	_______	_______

24. Reserves

Profit and loss accountThis reserve records cumulative profits or losses, net of dividends paid. This reserve is distributable in full .

25. Analysis of changes in net debt

	At 1 April 2024	Cash flows	At 31 March 2025
	£	£	£
Cash and cash equivalents	148,727,019	(23,212,441)	125,514,578
Bank overdrafts	(42,805,550)	27,669,812	(15,135,738)
	_______	_______	_______
	105,921,469	4,457,371	110,378,840
	_______	_______	_______

26. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value	Balance owed by /(owed to)
	2025	2025
	£	£
Transactions with Key Management Personnel	311,800	-
Transactions with group entities	46,500,027	( 76,247,254)
Transactions with other related parties	2,973,054	( 18,014,389)
	_______	_______

Transactions with and balances due to fellow group companies are disclosed above. Entities controlled by close family members of the group's owners are considered to be related parties and as transactions with them and balances owed by them are disclosed above. Transactions relate to sales and purchases, plus capital transactions. No interest is chargeable on amounts due.

27. Controlling party

The company consider LCC Holdings Ltd, a company with a registered address of 6th Floor, Victory House, Prospect Hill, Douglas, Isle of Man to be the ultimate parent undertaking.

28. Ultimate parent undertaking

The ultimate parent of the company is LCC Holdings Ltd, a company with a registered address of 6th Floor, Victory House, Prospect Hill, Douglas, Isle of Man.