Registration number:
Robert Pochin Holdings Limited
for the Year Ended 31 December 2025
Robert Pochin Holdings Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Company Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Company Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Robert Pochin Holdings Limited
Company Information
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Director |
D. R. Pochin |
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Company secretary |
S. J. Marjoram |
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Registered office |
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Auditors |
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Robert Pochin Holdings Limited
Strategic Report for the Year Ended 31 December 2025
The director presents his strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the group continues to be the distribution of plumbing and heating equipment, builders' hardware and tools. The principal activity of the company continues to be that of a holding company.
Fair review of the business
The group 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 director is pleased with the year under review and remains confident of reporting continued turnover growth and profitability for the foreseeable future.
The group's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£,000 |
61,353 |
57,403 |
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Gross profit margin |
% |
17 |
18 |
|
Net assets |
£,000 |
8,027 |
7,507 |
Principal risks and uncertainties
The director considers 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 director continues to closely monitor and control all aspects of the trading operations.
Robert Pochin Holdings 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 director has carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and has 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 director has taken account of these potential impacts in their going concern assessment.
The group 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 Board provides overall risk oversight, with a focus on the most significant risks facing the group. In addition, the Board is responsible for ensuring overall crisis management and business continuity plans are in place. The Board frequently discuss the business strategy, operations, policies, controls and risks.
The Board recognises the importance of good communications and relationships with employees. The Board continue to encourage and increase employee participation and involvement in matters which affect their interests. The Board provides updates to employees on developments on a regular basis.
The Board values its customers and suppliers and has long term relationships in place. The Board has dedicated customer and supplier account managers who safeguard the interests of the group, its customers and suppliers.
The Board 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 Board is committed to conducting its business consistent with the highest standards of business ethics. The Board 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 Board is committed to behaving responsibly towards its shareholders and treating them fairly, so they too may benefit from the successful delivery of our strategy.
As the director of Robert Pochin Holdings Limited I consider, that my management team and I have acted in the way we consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole (having regard to 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.
Robert Pochin Holdings Limited
Strategic Report for the Year Ended 31 December 2025
Engagement with employees
The Board 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. We strive to maintain strong communication between all levels of our employees. The Board regularly engages with the employees through a range of formal and informal channels.
The Board considers effective engagement a key element of its understanding of its ability to create value. Employee views can help inform the group 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 Board 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.
Approved and authorised by the
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Robert Pochin Holdings Limited
Director's Report for the Year Ended 31 December 2025
The director presents his report and the financial statements for the year ended 31 December 2025.
Director of the group
The director who held office during the year was as follows:
Information included in the Strategic Report
The group 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 group is exposed to a moderate level of price risk, credit risk, liquidity risk and cash flow risk. The group 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.
Environmental matters
Robert Pochin Holdings Limited has for many years emphasised: waste reduction; energy efficiency; minimisation of packaging; recycling and emission control.
Robert Pochin Holdings Limited
Director's Report for the Year Ended 31 December 2025
Energy and carbon report
We have considered the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) when preparing this report. These recommendations encourage businesses to increase disclosure of climate-related information, with an emphasis on financial disclosure. Robert Pochin Holdings Limited supports these recommendations and are committed to disclosing the relevant information which can be found below.
Governance
The Companies Act 2006 (Strategic Report and Directors Report) Regulations 2018 requires the company to disclose annual UK energy consumption and Greenhouse Gas (GHG) emissions from SECR regulated sources.
Energy and GHG emissions are reported from buildings and transport where operational control is held - this includes gas, electricity and fuel consumed, and company owned or leased vehicles.
Strategy
Our strategy to assess and manage risks and opportunities resulting from climate change includes consideration of different time horizons and specific risks:
- commercial risk: the potential for structural shifts in demand profiles for our products;
- regulatory risks: the potential for strengthening of existing, and introduction of new, regulations;
- physical risk: the potential impact on our facilities and the community in which we operate to changing physical conditions; and
- societal risk: the potential for a deteriorating relationship with the public and other companies with which the group operates.
Detailed financial projections are developed and used to manage performance and expectation and it is expected that the group will go through changes and evolution with the energy transition. Decision making and risk identification will be guided by the pace of progress of society and in step with society as it moves towards the goals of the Paris Agreement.
Robert Pochin Holdings Limited
Director's Report for the Year Ended 31 December 2025
Metrics and Targets
We have chosen to report our gross emissions against per £100,000 of turnover. The targets used by the group to manage climate related risks and opportunities, and performance against targets are:
-Assess energy usage at each site to identify inefficiencies.
-Pinpoint energy-intensive processes or equipment and prioritise improvements.
-Replace old equipment with energy-efficient models.
-Use energy-saving settings on appliances and computers.
-Install smart meters to monitor real-time energy use across all sites.
-Use automation to control lighting, heating, and cooling based on occupancy or business hours.
-Schedule regular maintenance to ensure systems are running efficiently.
-Install programmable thermostats to reduce energy use during off-hours.
-Educate staff at all sites on simple actions like turning off lights, computers, and equipment when not in use.
-Appoint "energy champions" to promote and monitor energy-saving practices.
-Seal windows and doors to prevent heat loss.
-Upgrade insulation in walls, roofs, and floors to reduce heating and cooling costs.
-Continuously track energy usage and bills to evaluate savings and identify new opportunities to improve.
-Review motor vehicle fleet regularly, phasing out older and less efficient vehicles and replacing when necessary, with new, more efficient vehicles.
By combining these strategies the business aims to significantly reduce energy costs while contributing to sustainability goals.
Emissions and energy consumption
We have measured our direct emissions from fuel and processes from purchased gas and electricity for the assets we operated for the period 1 January 2025 to 31 December 2025.
Energy usage and consumption data was gathered throughout the year, with electricity and gas usage advised by third party suppliers and this data was input into a carbon footprint calculator in order to calculate the associated greenhouse gas emissions.
During the year ended 31 December 2025, the group recorded greenhouse gas emissions from:
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Combustion of gas (scope 1) of |
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Purchased electricity (scope 2) of |
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Emissions from employed vehicles (scope 1) of |
Robert Pochin Holdings Limited
Director's Report for the Year Ended 31 December 2025
Intensity ratio
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Future developments
The group 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 director considers the group has adequate resources to continue in operational existence for the foreseeable future. As a result, the director continues to prepare the financial statements on the going concern basis.
Disclosure of information to the auditor
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditor is 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 group is to be proposed at the forthcoming Annual General Meeting.
Approved and authorised by the
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Robert Pochin Holdings Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 UK 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 group and the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Robert Pochin Holdings Limited
Independent Auditor's Report to the Members of Robert Pochin Holdings Limited
Opinion
We have audited the financial statements of Robert Pochin Holdings Limited (the ‘parent company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2025 which comprise the Consolidated Profit and Loss Account, the Consolidated Statement of Comprehensive Income, the Consolidated and Company Balance Sheet, the Consolidated and Company Statement of Changes in Equity, the Consolidated 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 group's and the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the “Auditor’s responsibilities for the audit of the financial statements” section of our report. We are independent of the group and the parent 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Robert Pochin Holdings Limited
Independent Auditor's Report to the Members of Robert Pochin Holdings Limited
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 director is 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.
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 director’s 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 director’s 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 group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director’s 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the director’s responsibilities statement set out on page 9, the director is 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 director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Robert Pochin Holdings Limited
Independent Auditor's Report to the Members of Robert Pochin Holdings Limited
In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent 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 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 group and the parent 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 group and the parent 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 group and the parent 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 director’s 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. |
Robert Pochin Holdings Limited
Independent Auditor's Report to the Members of Robert Pochin Holdings Limited
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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 director 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 |
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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 Holdings Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Distribution costs |
( |
( |
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
- |
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit attributable to: |
|||
|
Owners of the company |
|
|
The group has no recognised gains or losses for the year other than the results above.
Robert Pochin Holdings Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
|
Total comprehensive income attributable to: |
||
|
Owners of the company |
|
|
Robert Pochin Holdings Limited
(Registration number: 11064747)
Consolidated Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
Other financial assets |
100 |
100 |
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
37,180 |
33,412 |
|
|
Capital redemption reserve |
17,161 |
17,161 |
|
|
Retained earnings |
7,972,937 |
7,456,333 |
|
|
Equity attributable to owners of the company |
8,027,278 |
7,506,906 |
|
|
Shareholders' funds |
8,027,278 |
7,506,906 |
Approved and authorised by the
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Robert Pochin Holdings Limited
(Registration number: 11064747)
Company Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Investments |
|
|
|
|
Current assets |
|||
|
Debtors |
|
- |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
37,180 |
33,412 |
|
|
Capital redemption reserve |
7,030 |
7,030 |
|
|
Shareholders' funds |
44,210 |
40,442 |
The company made a profit after tax for the financial year of £800,051 (2024 - profit of £3,667,581).
Approved and authorised by the
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Robert Pochin Holdings Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
New share capital subscribed |
|
- |
- |
|
|
At 31 December 2025 |
|
|
|
|
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
Purchase of own share capital |
(7,030) |
7,030 |
(2,460,500) |
(2,460,500) |
|
At 31 December 2024 |
33,412 |
17,161 |
7,456,333 |
7,506,906 |
Robert Pochin Holdings Limited
Company Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
- |
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
New share capital subscribed |
|
- |
- |
|
|
At 31 December 2025 |
|
|
- |
|
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
- |
- |
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
Purchase of own share capital |
(7,030) |
7,030 |
(2,460,500) |
(2,460,500) |
|
At 31 December 2024 |
33,412 |
7,030 |
- |
40,442 |
Robert Pochin Holdings Limited
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance income |
( |
- |
|
|
Finance costs |
|
|
|
|
Corporation tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Increase in stocks |
( |
( |
|
|
(Increase)/decrease in debtors |
( |
|
|
|
Increase in creditors |
|
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Acquisition of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Acquisition of intangible assets |
( |
( |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payments for purchase of own shares |
- |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
163,648 |
306,879 |
|
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
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
|
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 group management to exercise judgement in applying the group'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 group operates and is rounded to the nearest pound.
Summary of disclosure exemptions
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own profit and loss account in these financial statements. The company has taken the exemption to not produce a company Statement of Cash Flows.
Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated profit and loss account and statement of retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
Going concern
Having carefully reviewed its forecasts, the director considers the group has adequate resources to continue in operational existence for the foreseeable future. As a result, the director continues to prepare the financial statements on the going concern basis.
Judgements and estimates
The director makes estimates and assumptions concerning the future, he is also required to exercise judgement in the process of applying the group'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 director believes 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 director has made the following estimates: |
Stock |
Management review the market value of and demand for the group'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 group'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 group 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 group has transferred the significant risks and rewards of ownership to the buyer;
-the group 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 group 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 Holdings 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 group 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 group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the profit and loss account and 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.
Depreciation
Depreciation is charged so as to allocate the cost of assets less the 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 statement of comprehensive income.
|
Asset class |
Depreciation method and rate |
|
Leasehold property improvements |
2%-20% on cost per annum |
|
Fixtures and fittings |
10%-20% on cost or reducing balance per annum |
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Motor vehicles |
20% on cost per annum |
Intangible assets
Intangible assets comprise software developments 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:
|
Asset class |
Amortisation method and rate |
|
Software |
20% on cost per annum |
Investments
Investments in subsidiaries are valued at cost less provision for impairment.
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.
In the consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.
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.
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.
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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 group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group 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 group in an independently administered fund.
Financial instruments
Classification
Recognition and measurement
Impairment
|
Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods - UK |
|
|
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Operating profit |
Arrived at after charging/(crediting):
|
2025 |
2024 |
|
|
Depreciation |
|
|
|
Amortisation |
|
|
|
Profit on disposal of tangible fixed assets |
( |
( |
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Other finance income |
|
- |
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest expense on other finance liabilities |
|
|
|
Staff costs |
The aggregate payroll costs (including director's 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 group (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Sales |
|
|
|
Management (including director) |
|
|
|
|
|
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions to money purchase pension schemes |
|
|
|
55,415 |
160,133 |
During the year the number of directors who were receiving benefits was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under defined contribution pension scheme |
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
35,250 |
32,960 |
|
Taxation |
Tax charged in the consolidated 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 |
|
|
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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.
|
Intangible assets |
Group
|
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 Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
Group
|
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 Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Pochin House, 2 Murrayfield Road, Leicester LE3 1UW. |
|
|
|
|
Other financial assets |
Group
|
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 |
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Stocks |
|
Group |
||
|
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
|
Debtors |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
- |
- |
|
Other debtors |
|
|
|
- |
|
Prepayments |
|
|
- |
- |
|
|
|
|
- |
|
|
Cash and cash equivalents |
|
Group |
||
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
|
Creditors |
|
Group |
|||
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax liability |
175,268 |
85,756 |
|
|
|
|
||
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Decrease in existing provisions |
( |
( |
|
At 31 December 2025 |
|
|
|
|
||
Deferred tax
Group
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 group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £47,367 (2024 - £17,142) were payable and are included in creditors.
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Share capital |
Allotted and called up shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
32,950 |
|
32,950 |
|
|
|
20 |
|
20 |
|
|
|
442 |
|
442 |
|
|
|
3,768 |
- |
- |
|
|
|
|
|
|
Rights, preferences and restrictions
|
7% Preference shares have the following rights, preferences and restrictions: |
|
Ordinary shares and Ordinary A shares have the following rights, preferences and restrictions: |
|
Reserves |
Group
Capital redemption reserve
The capital redemption reserve represents the nominal value of previously issued shares, that have been purchased by the group.
Retained earnings
The retained earnings represents cumulative profits and losses of the group.
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
Capital redemption reserve
The capital redemption reserve represents the nominal value of previously issued shares, that have been purchased by the company.
Retained earnings account
The retained earnings represents cumulative profits and losses of the company.
|
Loans and borrowings |
Group
Other borrowings
Included within other payables in note 18 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 group's assets.
|
Obligations under leases |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
The company has no lease commitments.
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Dividends |
Final dividends paid
|
2025 |
2024 |
|||
|
Final dividend of £ |
|
|
||
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividend of £ |
|
|
||
|
Interim dividend of £ |
|
|
||
|
|
|
|
Analysis of changes in net funds |
Group
|
At 1 January 2025 |
Financing cash flows |
At 31 December 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash |
306,879 |
(143,231) |
163,648 |
|
|
|||
|
Net funds |
|
( |
|
Robert Pochin Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Related party transactions |
Group
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 director considers key management personnel to include the directors of the subsidiary company, Robert Pochin Limited, as they have authority and responsibility for planning, directing and controlling the activities of the group. The total remuneration of key management personnel for the year was £757,110 (2024 - £418,897).
During the year the group 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 group owes RPL Property Holdings Limited £nil (2024 - £6,245) at the year end.
During the year the group 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 group sold goods worth £3,162 (2024 - £2,626) to D. R. Pochin, a director of the parent company. D. R. Pochin owes the group £110 (2024 - £1,228) at the year end.
During the year, the parent company issued 3,768 Ordinary B shares to four of the directors of the subsidiary undertaking at nominal value.
|
Controlling party |
The ultimate controlling party is