Registration number:
Robert Pochin Limited
for the Year Ended 31 December 2025
Robert Pochin Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Robert Pochin Limited
Company Information
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Directors |
D. R. Pochin S. Froggatt P. C. W. Trickett S. J. Marjoram M. Pysden |
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Registered office |
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Auditors |
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Robert Pochin Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company continues to be the distribution of plumbing and heating equipment, builders' hardware and tools.
Fair review of the business
The company has enjoyed another year of strong performance as the business continues to expand through the existing branch network, and from one additional new branch opened in Crewe.
Turnover increased by 7% during the year and the business maintained strong gross profit margins despite price increases and general inflationary pressures on the supply side, that have not been fully passed on to customers.
The business continued to be cash generative throughout the year, without the need for any long term debt being raised, and having also funded long term investment in new branches from operating cash flows.
In light of the significant investments made, and the continued growth in the branch network, the board are pleased with the year under review and remains confident of reporting continued turnover growth and profitability for the foreseeable future.
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£,000 |
61,353 |
57,403 |
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Gross profit margin |
% |
17 |
18 |
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Net assets |
£,000 |
8,023 |
7,507 |
Principal risks and uncertainties
The directors consider the key risk facing the business as being the general macro-economic market and its potential impact on its customers. Trading conditions continue to be challenging, strong competition, product availability and price inflation were all areas requiring the close attention of the senior management team. The directors continue to closely monitor and control all aspects of the trading operations.
Robert Pochin Limited
Strategic Report for the Year Ended 31 December 2025
Economic impact of global events
UK businesses continue to address many uncertainties including the ongoing consequences of environmental sustainability and geopolitical events such as the impact of international conflicts in Ukraine and the Middle East. These uncertainties have contributed to an environment where there exists a range of issues and risks, including substantial inflation, higher interest rates, labour shortages, disrupted supply chains and new ways of working.
As part of the fundamental review of the corporate and operational structures of the business referred to above, the directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that these are non-adjusting events with the greatest impact on the business expected to be from the economic ripple effect on the global economy. The directors have taken account of these potential impacts in their going concern assessment.
The company continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business.
Section 172(1) statement
The company provides an overall risk oversight, with a focus on the most significant risks. In addition, the company is responsible for ensuring overall crisis management and business continuity plans are in place. Together with senior management, the directors frequently discuss the company's business strategy, operations, policies, controls and risks.
The company recognises the importance of good communications and relationships with employees. The company continues to encourage and increase employee participation and involvement in matters which affect their interests. The company provides updates to employees on developments on a regular basis.
The company values its customers and suppliers, and has long term relationships in place. The company has dedicated customer and supplier account managers who safeguard the interests of the company, its customers and suppliers.
The company is committed to the protection of the environment, using its environment management system to ensure compliance with legislation and regulations, and to help achieve the board's objectives for improvement in environmental performance. This includes reducing waste by increased recycling and reuse where possible.
The company is committed to conducting its business consistent with the highest standards of business ethics. The company has an obligation to its employees, shareholders, customers, suppliers, community representatives and other business contacts to be honest, fair and forthright in all of its business activities.
The company is committed to behaving responsibly towards its shareholders and treating them fairly, so they too may benefit from the successful delivery of our strategy.
Robert Pochin Limited
Strategic Report for the Year Ended 31 December 2025
The directors of Robert Pochin Limited consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Companies Act 2006) in the decisions taken during the year ended 31 December 2025.
Engagement with employees
The company recognises that our employees are key to the success of our business and engaging with them is of critical importance in maintaining strong business delivery in times of change. The company strives to maintain strong communication between all levels of our employees. The company regularly engages with the employees through a range of formal and informal channels.
The company considers effective engagement a key element of its understanding of the ability to create value. Employee views can help inform the Board on matters such as operational effectiveness, culture, risk identification and strategy development and delivery. The Board considers the current employee engagement approach to be effective.
Engagement with suppliers, customers and other relationships
Delivering our strategy requires strong mutually beneficial relationships with both our suppliers and customers. The company seeks to promote the high level of and application of certain general principles in such relationships, and these shared beliefs help to underpin the relationship. The ability to promote these principles effectively is an important factor in the decision to enter into or remain in such relationships.
Non-financial and sustainability information
Energy and carbon report
As permitted by The Companies (Directors Report) and Limited Partnerships (Energy and Carbon Report) Regulations 2018 ("SECR requirements"), the company is exempt from disclosing separate energy use and emissions information in its annual report as these are included within the parent company's energy use and emissions reporting on a group basis. The information is reported within the director's report of its parent undertaking, Robert Pochin Holdings Limited.
Approved and authorised by the
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Robert Pochin Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Information included in the Strategic Report
The company has chosen, in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the strategic report certain information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.
Financial instruments
Objectives and policies
Financial risk management objectives and policies are underpinned by recognising that competition is a key risk in the sector and management mitigate this by maintaining its reputation for offering quality products and service.
Price risk, credit risk, liquidity risk and cash flow risk
The company is exposed to a moderate level of price risk, credit risk, liquidity risk and cash flow risk. The company manages these risks by financing its activities through retained earnings and bank facilities.
In respect of bank balances, the liquidity risk is managed by maintaining a healthy balance on cash reserves and through the use of invoice financing facility as appropriate.
Trade creditor liquidity risk is managed by ensuring sufficient funds are available to meet all amounts as they fall due for payment.
Trade debtors are managed in respect of credit risk and cash flow risk by monitoring credit offered to customers, and through the use of third party discount facilities.
Robert Pochin Limited
Directors' Report for the Year Ended 31 December 2025
Environmental matters
Robert Pochin Limited has for many years emphasised: waste reduction; energy efficiency; minimisation of packaging; recycling and emission control.
Future developments
The company plans to continue to sell plumbing and heating equipment, builders' hardware and tools for the foreseeable future.
Going concern
Having carefully reviewed its forecasts, the directors consider the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors continue to prepare the financial statements on the going concern basis.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Forvis Mazars LLP as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved and authorised by the
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Robert Pochin Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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.
Robert Pochin Limited
Independent Auditor's Report to the Members of Robert Pochin Limited
Opinion
We have audited the financial statements of Robert Pochin Limited (the ‘company’) for the year ended 31 December 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 December 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 original 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 contained within the annual report. 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.
Robert Pochin Limited
Independent Auditor's Report to the Members of Robert Pochin Limited
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 course of 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.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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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 |
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the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In 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 in relation to which 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 7, 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.
Robert Pochin Limited
Independent Auditor's Report to the Members of Robert Pochin Limited
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 the financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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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. |
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Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation and anti-money laundering regulation. |
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To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to: |
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Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations; |
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Inspecting correspondence, if any, with relevant licensing or regulatory authorities; |
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Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and |
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Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. |
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We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation and the Companies Act 2006. |
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In addition, we evaluated the directors' and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, revenue recognition (which we pinpointed to the occurrence assertion) and significant one-off or unusual transactions. |
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Our audit procedures in relation to fraud included but were not limited to: |
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Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; |
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Gaining an understanding of the internal controls established to mitigate risks related to fraud; |
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Discussing amongst the engagement team the risks of fraud; and |
Robert Pochin Limited
Independent Auditor's Report to the Members of Robert Pochin Limited
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Addressing the risks of fraud through management override of controls by performing journal entry testing. |
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There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls. |
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 auditor’s 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.
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For and on behalf of
Chartered Accountants and Statutory Auditor
6 Dominus Way
Meridian Business Park
LE19 1RP
Robert Pochin Limited
Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
|
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Cost of sales |
( |
( |
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Gross profit |
|
|
|
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Operating profit |
1,965,632 |
2,571,669 |
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Other interest receivable and similar income |
|
- |
|
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Robert Pochin Limited
Statement of Comprehensive Income for the Year Ended 31 December 2025
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2025 |
2024 |
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Profit for the year |
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Total comprehensive income for the year |
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Robert Pochin Limited
(Registration number: 00179511)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Intangible assets |
|
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Tangible assets |
|
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Other financial assets |
100 |
100 |
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||
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Current assets |
|||
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Stocks |
|
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Debtors |
|
|
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
|
|
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Capital and reserves |
|||
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Called up share capital |
49,893 |
49,893 |
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Capital redemption reserve |
10,131 |
10,131 |
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Retained earnings |
7,963,485 |
7,446,881 |
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Shareholders' funds |
8,023,509 |
7,506,905 |
Approved and authorised by the
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Robert Pochin Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2025 |
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|
|
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Profit for the year |
- |
- |
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|
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Dividends |
- |
- |
( |
( |
|
At 31 December 2025 |
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|
|
|
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2024 |
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|
|
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Profit for the year |
- |
- |
|
|
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Dividends |
- |
- |
( |
( |
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At 31 December 2024 |
49,893 |
10,131 |
7,446,881 |
7,506,905 |
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
The preparation of financial statements in compliance with FRS 102 requires the use of certain accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The areas involving a higher degree of judgement or complexity or areas where
assumptions and estimates are significant to the financial statements are disclosed below.
The presentation currency for the financial statements is Pound Sterling (£) as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.
Summary of disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Name of parent of group
These financial statements are consolidated in the financial statements of Robert Pochin Holdings Limited.
The financial statements of Robert Pochin Holdings Limited may be obtained from Companies House, Crown Way, Maindy, Cardiff.
Going concern
Having carefully reviewed its forecasts, the directors consider the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors continue to prepare the financial statements on the going concern basis.
Judgements and estimates
The directors make estimates and assumptions concerning the future, they are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The directors believe there are no judgements that represent any significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
In preparing these financial statements, the directors have made the following estimates: |
Stock |
Management review the market value of and demand for the company's stocks on a periodic basis to ensure stock is recorded in the financial statements at the lower of cost and net realisable value. Any provision for impairment is recorded against the carrying value of stocks. Management use their knowledge of market conditions, historical experiences and estimates of future events to assess future demand for the company's products and achievable selling prices. |
Revenue recognition
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. The following criteria must also be met before turnover is recognised:
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
-the company has transferred the significant risks and rewards of ownership to the buyer;
-the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
-the amount of turnover can be measured reliably;
-it is probable that the company will receive the consideration due under the transaction; and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Tax
The tax charge for the year comprises of current and deferred tax.
Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.
Deferred tax assets are only 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 calculated 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.
Tangible assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the profit and loss account and the statement of comprehensive income during the period in which they are incurred.
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date as to determine whether there is any indication that the assets are impaired. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds the recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use.
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Depreciation
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account and the statement of comprehensive income.
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Asset class |
Depreciation method and rate |
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Leasehold property improvements |
2%-20% on cost per annum |
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Fixtures and fittings |
10%-20% on cost or reducing balance per annum |
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Motor vehicles |
20% on cost per annum |
Intangible assets
Intangible assets comprise softwares that are purchased.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Software |
20% on cost per annum |
Investments
Other investments held as fixed assets are shown at cost less provision for impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours.
Trade debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on an average basis.
Trade creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Leases
Rentals paid under operating leases are charged to the profit and loss account and statement of comprehensive income on a straight line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.
Defined contribution pension obligation
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the profit and loss account and statement of comprehensive income when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet.
The assets of the plan are held separately from the company in an independently administered fund.
Financial instruments
Classification
Recognition and measurement
Impairment
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods - UK |
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Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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Operating profit |
Arrived at after charging/(crediting):
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2025 |
2024 |
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Depreciation |
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Amortisation |
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Profit on disposal of tangible fixed assets |
( |
( |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Other interest received |
|
- |
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest expense on other finance liabilities |
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales |
|
|
|
Management (including directors) |
|
|
|
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions to money purchase pension schemes |
|
|
|
757,110 |
579,030 |
During the year the number of directors who were receiving benefits was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under defined contribution pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Compensation for loss of office |
|
- |
|
Contributions to money purchase pension schemes |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Taxation |
Tax charged in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
- |
|
|
485,509 |
548,343 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the profit and loss account |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Adjustment in respect of prior periods |
- |
|
|
Effect of expense not deductible in determining taxable profit |
|
|
|
Total tax charge |
|
|
There are no factors expected to impact significantly on future tax charges.
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Intangible assets |
|
Software |
Total |
|
|
Cost |
||
|
At 1 January 2025 |
|
|
|
Additions |
|
|
|
At 31 December 2025 |
|
|
|
Amortisation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Leasehold property improvements |
Fixtures and fittings |
Motor vehicles |
Total |
|
|
Cost |
||||
|
At 1 January 2025 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2025 |
- |
|
|
|
|
At 31 December 2024 |
|
|
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Other financial assets |
|
Unlisted investments |
Total |
|
|
Non-current financial assets |
||
|
Cost |
||
|
At 1 January 2025 |
72,700 |
72,700 |
|
At 31 December 2025 |
72,700 |
72,700 |
|
Impairment |
||
|
At 1 January 2025 |
72,600 |
72,600 |
|
At 31 December 2025 |
72,600 |
72,600 |
|
Carrying amount |
||
|
At 31 December 2025 |
|
100 |
|
At 31 December 2024 |
|
100 |
|
Stocks |
|
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax liability |
175,268 |
85,756 |
|
|
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Decrease in existing provisions |
( |
( |
|
At 31 December 2025 |
|
|
|
|
||
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Pension provision obligations |
|
- |
|
|
|
|
2024 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Pension provision obligations |
|
- |
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company contributes to defined contribution pension schemes. The pension cost charge for the year represents contributions payable by the company to the schemes and amounted to £
Contributions totalling £47,367 (2024 - £17,142) were payable and are included in creditors.
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
8,705 |
|
8,705 |
|
|
|
40,688 |
|
40,688 |
|
|
|
500 |
|
500 |
|
|
|
|
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Rights, preferences and restrictions
|
7% cumulative preference A shares have the following rights, preferences and restrictions: |
|
Ordinary shares and Ordinary A shares have the following rights, preferences and restrictions: |
|
Reserves |
Capital redemption reserve
The capital redemption reserve represents the nominal value of previously issued shares, that have been purchased by the company.
Retained earnings
The retained earnings represents cumulative profits and losses of the company.
|
Loans and borrowings |
Other borrowings
Included within other payables in note 17 are amounts due under an invoice discounting facility of £2,614,914 (2024 - £2,821,281).
The facility is secured on the trade debtors to which they relate and a fixed and floating charge over the company's assets.
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Obligations under leases |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Expire not later than one year |
|
|
|
Expire later than one year and not later than five years |
|
|
|
Expire later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
Final dividends paid
|
2025 |
2024 |
|||
|
Final dividend of £ |
|
|
||
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividend of £ |
|
|
||
|
Interim dividend of £ |
|
|
||
|
|
|
Robert Pochin Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Advantage has been taken of the exemption provided by FRS 102 Section 33.1A not to disclose transactions with fellow group companies as all subsidiary undertakings are wholly controlled by the parent company.
The directors consider there to be no key management personnel, other than the directors, who have authority and responsibility for planning, directing and controlling the activities of the company.
During the year the company incurred property rental costs of £676,752 (2024 - £634,612) to RPL Property Holdings Limited, a company in which D. R. Pochin is a director. The company owes RPL Property Holdings Limited £nil (2024 - £6,245) at the year end.
During the year the company purchased goods amounting to £54,197 (2024 - £28,903) from P H G Buying Ltd, a company in which D. R. Pochin is a director.
During the year the company sold goods worth £3,162 (2024 - £2,626) to D. R. Pochin, a director of the company. D. R. Pochin owes the company £110 (2024 - £1,228) at the year end.
During the year, the company’s parent undertaking issued 3,768 Ordinary B shares to four of the company’s directors at nominal value.
|
Immediate and ultimate parent undertaking, and controlling party |
The company's immediate and ultimate parent undertaking is
The most senior parent undertaking producing publicly available financial statements in which these accounts are consolidated is
The ultimate controlling party is