Company Registration number:
Stotts Group Limited
for the Year Ended 31 December 2025
Stotts Group Limited
Contents
|
|
|
|
Company Information |
|
|
|
|
|
Strategic Report |
|
|
|
|
|
Directors' Report |
|
|
|
|
|
Statement of Directors' Responsibilities |
|
|
|
|
|
Independent Auditor's Report |
|
|
|
|
|
Consolidated Profit and Loss Account |
|
|
|
|
|
Consolidated Statement of Comprehensive Income |
|
|
|
|
|
Consolidated Balance Sheet |
|
|
|
|
|
Balance Sheet |
|
|
|
|
|
Consolidated Statement of Changes in Equity |
|
|
|
|
|
Statement of Changes in Equity |
|
|
|
|
|
Consolidated Statement of Cash Flows |
|
|
|
|
|
Notes to the Financial Statements |
Stotts Group Limited
Company Information
|
Directors |
A M Stott D A Gray J M Edwards J O Stott |
|
Registered office |
|
|
Auditors |
|
Stotts Group 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 is that of an investment holding company. The principal activity of the group is that of road haulage and warehousing within the UK and Europe.
Business Strategy
Our strategy is focused on delivering sustainable growth through operational efficiency, customer retention, and selective investment. We aim to be environmentally conscious innovators, communicators and optimisers of our fleet and warehouse utilisation. We look to provide enhanced digital systems, maintain high service standards across our divisions, and ensure the Group remains well positioned for continued development.
Fair review of the business
The Group delivered a strong improvement in profitability during the year despite continued challenges across the transport and warehousing sectors. Revenue increased to £40.0m, representing growth of +2.2%, demonstrating the Group's continued focus on growing profitable revenue.
During the year the Group continued to experience strong upward inflationary pressure, with increasing National Insurance costs, maintenance costs and labour cost increases adding significant cost pressures. To mitigate these cost pressures, management remained focused on improving operational efficiency. The benefits of prior investments in fleet, warehousing infrastructure and digital systems, together with continued cost control and operational improvements, contributed to the margin improvement. The Group also continued to review its fleet and asset base, balancing investment requirements with working capital and cash generation.
We have maintained BRC, ISO9001 and ISO14001, Soil Association and Cyber Essentials certifications.
The Group continued to invest in 2025, with tangible asset additions of £5.0m (2024: £3.8m). The Group continues to invest selectively where this improves efficiency, service quality, asset utilisation and the resilience of operations.
Looking ahead, the Board remains focused on growing both transport and warehousing activities through the development of existing customer relationships, the acquisition of new business and continued investment in technology and operational capability. During 2026, the Group will open its newest depot in Chippenham, further strengthening the operational network and supporting future growth opportunities.
Stotts Group Limited
Strategic Report for the Year Ended 31 December 2025
Key performance indicators
The trading results for the period and the group’s financial position at the end of the period are in accordance with all budgets and forecasts for the period.
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Return on Capital Employed |
% |
11 |
9 |
|
Gross Profit |
% |
31 |
29 |
The Directors monitor the Return on Capital Employed (“ROCE”) ratio, which measures the Group’s profitability and the efficiency with which capital is utilised within the business. The ROCE percentage for 2025 has improved, reflecting increased operating profitability and the continued focus on the efficient utilisation of assets and working capital. The Directors also closely monitor the Group’s gross profit percentage, which increased to during the period.
The senior management team regularly review specific key performance indicators. We remain committed to reducing our environmental impact. During 2025 we continued to review opportunities to reduce fuel consumption, improve vehicle fill, optimise time utilisation and reduce deviations from schedule. We maintain ISO14001 certification and continue to explore initiatives that support both operational efficiency and our customers’ sustainability goals. Substantial reductions can be achieved by making better use of vehicle capacity, which in turn can reduce accidents, pollution and operating costs. The solar panels installed at the Waterlip site continue to support energy supply for the site, which is operated with electric forklift trucks.
The average number of employees remained at 289 during 2025 (2024: 289). We remain committed to providing a safe, inclusive and supportive workplace. Training and development remain a priority, and we continue to review recruitment, retention and workforce planning in response to industry-wide labour challenges and changes in the mix of operational and administrative roles.
Stotts Group Limited
Strategic Report for the Year Ended 31 December 2025
Principal risks and uncertainties
Economic conditions
Economic conditions remained challenging during 2025. Energy, fuel, employment and maintenance costs continued to require close management, and the increase in Employers National Insurance from April 2025 increased the employment cost base. The Group continues to use surcharge structures where appropriate, but remains focused on operating efficiency, customer pricing discipline, contract review and utilisation improvements to protect margins in a competitive market.
Risk Management
During the period the Directors continued to review the fundamental risks of the Group. Risk management is discussed and addressed regularly by senior management.
Financial instruments
Objectives and policies
The management objectives are to retain sufficient liquid funds to enable it to meet its day to day requirements, minimise the Group's exposure to fluctuating interest rates, and match the repayment schedule of any external borrowings with the future cash flows expected to arise from the Group's trading activities.
Price risk, credit risk, liquidity risk and cash flow risk
The Group is exposed to a moderate level of credit risk, liquidity risk and cash flow risk. The Group manages these risks by financing its operations through the continued support of its bankers and financers, supplemented by long term bank borrowings where necessary to fund expansion or capital expenditure programmes. The Group is not exposed to price risk as it holds no listed investments.
Approved by the Board on
|
|
Stotts Group Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the consolidated financial statements for the year ended 31 December 2025.
Dividends
Ordinary dividends were paid amounting to £180,000 (2024: £218,000). The directors do not recommend payment of a further dividend.
Directors of the group
The directors who held office during the year were as follows:
The following directors were appointed after the year end:
Employment of disabled persons
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Employee involvement
The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
Disclosure of information to the auditor
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 auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Information included in the Strategic Report
The group has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the group's financial risk management objectives and policies, its exposure to price risk, credit risk, liquidity risk and cash flow risk and the future development of the business.
Stotts Group Limited
Directors' Report for the Year Ended 31 December 2025
Approved by the Board on
|
|
Stotts Group 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 group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
|
• |
select suitable accounting policies and apply them consistently; |
|
• |
make judgements and accounting estimates that are reasonable and prudent; |
|
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
|
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the 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 them them to ensure that the financial statements comply with the Companies Act 2006. They areThey are 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.
Stotts Group Limited
Independent Auditor's Report to the Members of Stotts Group Limited
Opinion
We have audited the financial statements of Stotts Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the 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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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.
Stotts Group Limited
Independent Auditor's Report to the Members of Stotts Group Limited
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
|
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
In the light of our 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 and the Directors' Report.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept 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 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 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Stotts Group Limited
Independent Auditor's Report to the Members of Stotts Group Limited
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
|
• |
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
|
• |
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the haulage sector; |
|
• |
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation; |
|
• |
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
|
• |
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
|
• |
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
|
• |
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we:
|
• |
performed analytical procedures to identify any unusual or unexpected relationships; |
|
• |
tested journal entries to identify unusual transactions; |
|
• |
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
|
• |
investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
Stotts Group Limited
Independent Auditor's Report to the Members of Stotts Group Limited
|
• |
agreeing financial statement disclosures to underlying supporting documentation; |
|
• |
enquiring of management as to actual and potential litigation and claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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.
For and on behalf of
Goodwood House
Blackbrook Park Avenue
Somerset
TA1 2PX
Stotts Group Limited
Consolidated Profit and Loss Account
for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar charges |
( |
( |
|
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit/(loss) attributable to: |
|||
|
Owners of the company |
|
|
|
|
Minority interests |
|
|
|
|
|
|
Stotts Group 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 |
|
|
|
Minority interests |
|
|
|
|
|
Stotts Group Limited
(Registration number: 10277125)
Consolidated Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Goodwill |
101,781 |
305,344 |
|
|
Negative goodwill |
(29,151) |
(37,893) |
|
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
Other financial assets |
14,600 |
- |
|
|
|
|
||
|
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 |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Share premium reserve |
|
|
|
|
Revaluation reserve |
|
|
|
|
Other reserves |
|
|
|
|
Retained earnings |
|
|
|
|
Equity attributable to owners of the company |
|
|
|
|
Minority interests |
|
|
|
|
Shareholders' funds |
|
|
Approved and authorised by the
|
|
Stotts Group Limited
(Registration number: 10277125)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Share premium reserve |
|
|
|
|
Other reserves |
|
|
|
|
Retained earnings |
|
|
|
|
Shareholders' funds |
|
|
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes as it prepares group accounts. The company made a profit after tax for the financial year of £175,339 (2024 - profit of £33,755).
Approved and authorised by the
|
|
Stotts Group Limited
Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Revaluation reserve |
Other reserves |
Retained earnings |
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 January 2025 |
|
|
|
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
- |
|
|
|
|
|
Other comprehensive income |
- |
- |
( |
- |
|
- |
- |
- |
|
Total comprehensive income |
- |
- |
( |
- |
|
|
|
|
|
Dividends |
- |
- |
- |
- |
( |
( |
- |
( |
|
Increase in ownership interests in subsidiaries |
- |
- |
- |
- |
( |
( |
( |
( |
|
Other movements on reserves |
- |
- |
- |
5,533 |
- |
5,533 |
- |
5,533 |
|
At 31 December 2025 |
|
|
|
|
|
|
|
|
|
Share capital |
Share premium |
Revaluation reserve |
Other reserves |
Retained earnings |
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 January 2024 |
|
|
|
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
- |
|
|
|
|
|
Dividends |
- |
- |
- |
- |
( |
( |
- |
( |
|
Increase in ownership interests in subsidiaries |
- |
- |
- |
- |
|
|
( |
- |
|
Other movements on reserves |
- |
- |
- |
5,533 |
- |
5,533 |
- |
5,533 |
|
At 31 December 2024 |
56 |
1,200,000 |
717,644 |
439,332 |
6,982,701 |
9,339,733 |
4,650 |
9,344,383 |
Stotts Group Limited
Statement of Changes in Equity
for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
Other movements on reserves |
- |
- |
5,533 |
- |
5,533 |
|
At 31 December 2025 |
|
|
|
|
|
|
Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Dividends |
- |
- |
- |
( |
( |
|
Other movements on reserves |
- |
- |
5,533 |
- |
5,533 |
|
At 31 December 2024 |
56 |
1,200,000 |
16,599 |
1,143,149 |
2,359,804 |
Stotts Group Limited
Consolidated Statement of Cash Flows
for the Year Ended 31 December 2025
|
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 |
|
|
|
|
Share based payment transactions |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Increase in stocks |
( |
( |
|
|
Increase in trade debtors |
( |
( |
|
|
Decrease in trade creditors |
( |
( |
|
|
Decrease in provisions |
- |
( |
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Acquisition of investments |
(14,600) |
- |
|
|
Net cash flows from investing activities |
|
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payments for purchase of own shares |
(50,280) |
- |
|
|
Proceeds from bank borrowing draw downs |
|
|
|
|
Repayment of bank borrowing |
( |
( |
|
|
Net payments to finance lease creditors |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 January 2025 |
|
|
|
|
Cash and cash equivalents at 31 December 2025 |
2,747,188 |
2,385,905 |
|
Stotts Group 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:
|
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
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2025.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Turnover recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue is recognised when the group obtains the right to consideration for the performance of its services.
Haulage income is recognised at the point of delivery, whilst storage income is recognised equally over the storage time period.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Freehold buildings |
2% straight line |
|
Leasehold land and buildings |
25% straight line |
|
Leasehold improvements |
25% straight line |
|
Plant and machinery |
25% reducing balance |
|
Fixtures, fittings and office equipment |
25% reducing balance or straight line |
|
Motor vehicles |
20% straight line |
Investment property
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Negative goodwill represents the excess of the aggregate fair value of the acquired assets over the consideration paid for the business. Negative goodwill has been matched with the fair value of the non-monetary assets purchased and released to the profit and loss account over the period in which these assets are recovered through use or sale.
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 |
|
Goodwill |
10% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.
Provisions
Provisions are recognised when the group has an obligation at the reporting date as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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 when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the group in independently administered funds.
Share based payments
The group operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Financial instruments
Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the instrument. Financial instruments are initially measured at transaction price, which is normally the fair value of the consideration given or received.
The Group applies the provisions of Section 11 of FRS 102 in respect of basic financial instruments. These include cash and cash equivalents, trade and other debtors, trade and other creditors, and short-term and long-term loans, including intragroup balances.
Debt instruments that meet the conditions of Section 11 are subsequently measured at amortised cost using the effective interest method, less any impairment losses. Financial assets measured at amortised cost include trade debtors, other debtors and loans receivable. Financial liabilities, including trade creditors, other creditors, bank loans and overdrafts, and intragroup balances, are subsequently measured at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash in hand and demand deposits, together with other short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
At each reporting date, the Group assesses whether there is objective evidence that a financial asset measured at amortised cost is impaired. Where such evidence exists, an impairment loss is recognised in profit or loss as the difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the asset’s original effective interest rate. In the case of trade receivables, impairment is assessed based on the expected recoverability of balances, taking into account historical default experience, current conditions and, where relevant, forward-looking information. Impairment losses are reversed in subsequent periods if the amount of the loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or when substantially all the risks and rewards of ownership have been transferred. Financial liabilities are derecognised when the obligation specified in the contract is discharged, cancelled or expires.
Financial assets and liabilities are offset, and the net amount presented in the balance sheet, only where there is a legally enforceable right to set off the recognised amounts and the Group intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.
Intragroup balances are accounted for at transaction price on initial recognition and subsequently measured at amortised cost. On consolidation, all intragroup balances and transactions are eliminated.
Where arrangements constitute a financing transaction, financial assets and financial liabilities are measured at the present value of future payments discounted at a market rate of interest for a similar instrument.
The application of the Group’s accounting policy for financial instruments requires judgement, particularly in determining whether arrangements contain a financing element and in assessing indicators of impairment and the recoverability of financial assets.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Share premium account includes any premiums received on the issue of share capital. Transaction costs associated with the issuing of shares are deducted from the share premium.
Profit and loss account includes all current and prior period profits and losses.
Revaluation reserve is the surplus or deficit arising on the revaluation of an asset of a company.
Other non-distributable reserve arising on restructuring of the group.
Key sources of estimation uncertainty
The preparation of financial statements to conform to generally accepted accounting practice requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:
Depreciation:
The directors use their knowledge of the business and the industry to estimate the useful life and residual value of tangible fixed assets in order to arrive at applicable depreciation rates. In accordance with Section 17 of FRS102, the directors review and update these estimates if there are indicators that current estimates should change. During the year there was no change in the depreciation rates.
It must be noted that there is inherent uncertainty with these estimates as factors such as unexpected wear and tear, technological advancement and changes in market price may result in future changes to the appropriate rate of depreciation.
Valuation of Investment Property:
The directors use their knowledge of the local area and market activity to judge the open market value of investment property. The valuations are reviewed on a yearly basis in line with market trends.
It is noted that there is inherent uncertainty regarding the requirement of land and buildings in the local area and market value is dependent on demand.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Haulage and warehousing |
|
|
The analysis of the group's Turnover for the year by geographical market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Foreign exchange losses |
- |
|
|
Operating lease expense |
|
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
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 |
|
|
|
Share-based payment expenses |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Administration and support |
|
|
|
Distribution |
|
|
|
Other departments |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
- |
|
149,122 |
7,844 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
- |
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
3,600 |
3,475 |
|
Audit of the financial statements of subsidiaries of the company pursuant to legislation |
23,800 |
23,050 |
|
|
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
- |
( |
|
704,810 |
207,547 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as 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 |
|
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
- |
( |
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax credit from unrecognised tax loss or credit |
- |
( |
|
Chargeable gains |
|
|
|
Total tax charge |
|
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Intangible assets |
Group
|
Goodwill |
Negative goodwill |
Total |
|
|
Cost or valuation |
|||
|
At 1 January 2025 |
|
( |
|
|
At 31 December 2025 |
|
( |
|
|
Amortisation |
|||
|
At 1 January 2025 |
|
( |
|
|
Amortisation charge |
|
( |
|
|
At 31 December 2025 |
|
( |
|
|
Carrying amount |
|||
|
At 31 December 2025 |
|
( |
|
|
At 31 December 2024 |
|
( |
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Tangible assets |
Group
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Leasehold improvements |
Total |
|
|
Cost or valuation |
||||||
|
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 |
|
|
|
|
|
|
Included within the net book value of land and buildings above is £15,602,480 (2024 - £15,869,841) in respect of freehold land and buildings and £20,789 (2024 - £23,569) in respect of long leasehold land and buildings.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
94,339 |
139,500 |
|
Motor vehicles |
6,434,598 |
5,926,459 |
|
6,528,937 |
6,065,959 |
Company
|
Land and buildings |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
Included within the net book value of land and buildings above is £7,568,514 (2024 - £7,696,387) in respect of freehold land and buildings.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Investment properties |
Group
|
2025 |
|
|
At 1 January 2025 |
|
|
At 31 December 2025 |
|
There has been no valuation of investment property by an independent valuer. However, the directors having assessed the local market consider the book value to be materially consistent with the fair value of the property at the year end.
Company
|
2025 |
|
|
At 1 January 2025 |
|
|
At 31 December 2025 |
|
There has been no valuation of investment property by an independent valuer. However, the directors having assessed the local market consider the book value to be materially consistent with the fair value of the property at the year end.
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) 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 |
||||
|
|
Willmott's Business Park, Waterlip, Shepton Mallet, Somerset, BA4 4RN |
Ordinary |
|
|
|
|
Willmott's Business Park, Waterlip, Shepton Mallet, Somerset, BA4 4RN |
Ordinary |
|
|
|
|
Willmott's Business Park, Waterlip, Shepton Mallet, Somerset, BA4 4RN |
Ordinary |
|
|
|
|
Willmott's Business Park, Waterlip, Shepton Mallet, Somerset, BA4 4RN |
Ordinary |
|
|
|
|
Willmott's Business Park, Waterlip, Shepton Mallet, Somerset, BA4 4RN |
Ordinary |
|
|
|
Subsidiary undertakings |
|
Willmotts Transport Limited The principal activity of Willmotts Transport Limited is |
|
S&B Transport Services Limited The principal activity of S&B Transport Services Limited is |
|
Parker Transport (SW) Limited The principal activity of Parker Transport (SW) Limited is |
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Parker Westfield Limited (indirect investment) The principal activity of Parker Westfield Limited (indirect investment) is |
|
Stotts Property Limited The principal activity of Stotts Property Limited is |
S&B Transport Services Limited is exempt from the audit requirements of their individual accounts by virtue of S479A of Companies Act 2006.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Other financial assets |
Group
|
Financial assets at cost less impairment |
Total |
|
|
Non-current financial assets |
||
|
Cost or valuation |
||
|
Additions |
14,600 |
14,600 |
|
At 31 December 2025 |
14,600 |
14,600 |
|
Impairment |
||
|
Carrying amount |
||
|
At 31 December 2025 |
|
14,600 |
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Raw materials and consumables |
|
|
- |
- |
|
Debtors |
|
Group |
Company |
|||
|
Current |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
|
|
Other debtors |
- |
|
- |
|
|
Prepayments |
|
|
|
|
|
Amounts owed by associated undertakings |
5,946 |
- |
- |
- |
|
|
|
|
|
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
|
|
|
|
Amounts owed to group undertakings |
- |
- |
4,287,297 |
4,049,845 |
|
|
Social security and other taxes |
|
|
|
|
|
|
Other creditors |
|
|
|
|
|
|
Accrued expenses |
|
|
|
|
|
|
Corporation tax |
704,811 |
128,646 |
19,181 |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
Other creditors of £143,566 (2024: £1,090,132) are secured by fixed and floating charges over the assets of the company. This Other creditors balance is made solely of an invoice financing facility.
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Loans and borrowings |
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Bank overdrafts |
|
|
- |
- |
|
Hire purchase contracts |
|
|
- |
- |
|
|
|
|
|
|
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
- |
- |
|
|
|
|
|
|
Obligations under finance leases are secured against the asset to which they relate.
Hire purchase contracts are denominated in sterling with a nominal interest rates of between 3% and 8%. The carrying amount at year end is £6,622,180 (2024: £6,402,077). These contracts are repayable in monthly instalments over 3 to 6 years from the date they are advanced.
National Westminster Bank Plc holds a legal charge on freehold property and a floating charge over all moveable plant, machinery, implements, utensils, furniture and equipment.
National Westminster Bank Plc also holds a fixed and floating charge over Stotts Group Limited and Willmott's Transport Limited and including property and assets (present and future), goodwill, uncalled capital, buildings, fixtures and plant and machinery.
Group
Included in the loans and borrowings are the following amounts due after more than five years:
|
2025 |
2024 |
|
|
After more than five years by instalments |
|
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Group
Finance 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 |
|
- |
|
|
|
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
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 |
|
|
|
|
|
|
Provisions for liabilities |
Group
|
Deferred tax |
Dilapidations |
Total |
|
|
At 1 January 2025 |
|
|
|
|
Increase (decrease) in existing provisions |
|
- |
|
|
At 31 December 2025 |
|
|
|
|
|
|||
Company
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Capital gains/(losses) |
- |
|
|
Short term timing differences |
|
- |
|
|
|
|
2024 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
Capital gains/(losses) |
- |
|
|
Short term timing differences |
|
- |
|
|
|
Company
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
- |
|
|
2024 |
Asset |
Liability |
|
Accelerated capital allowances |
- |
|
|
- |
|
|
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 £
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
56 |
|
56 |
Rights, preferences and restrictions
|
Ordinary A have the following rights, preferences and restrictions: |
|
Share-based payments |
Scheme details and movements
The company is unable to directly measure the fair value of employee services received. Instead the fair value of the share options at grant date was determined by applying a discount on the exercise price based on the proportion of options estimated to be exercised.
During the year £5,533 (2024: £5,533) was recognised as an expense in the statement of profit or loss, and the total carrying amount at the end of the year for liabilities arising from share-based payment transactions was £16,599.
The movements in the number of share options during the year were as follows:
|
2025 |
2024 |
|
|
Outstanding, start of period |
|
|
|
Outstanding, end of period |
|
|
|
|
||
The movements in the weighted average exercise price of share options during the year were as follows:
|
2025 |
2024 |
|
|
Outstanding, start of period |
|
|
|
Outstanding, end of period |
|
|
|
|
||
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Dividends |
|
2025 |
2024 |
|
|
£ |
£ |
|
|
Interim and final dividends |
180,000 |
218,000 |
|
Commitments |
Group
Capital commitments
The total amount contracted for but not provided in the financial statements was £
|
Controlling party |
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Analysis of changes in net debt |
Group
|
At 1 January 2025 |
Financing cash flows |
Allocation |
Debt drawdown |
At 31 December 2025 |
|
|
Cash and cash equivalents |
|||||
|
Cash |
2,428,937 |
360,529 |
- |
- |
2,789,466 |
|
Bank overdraft |
(43,032) |
754 |
- |
- |
(42,278) |
|
2,385,905 |
361,283 |
- |
- |
2,747,188 |
|
|
Borrowings |
|||||
|
Bank loans due in 1 year |
(454,902) |
454,902 |
(445,914) |
- |
(445,914) |
|
Bank loans due in more than 1 year |
(11,189,594) |
4,409,640 |
445,914 |
(4,449,117) |
(10,783,157) |
|
Lease liabilities |
(6,402,077) |
2,667,393 |
- |
(2,787,496) |
(6,522,180) |
|
(18,046,573) |
7,531,935 |
- |
(7,236,613) |
(17,751,251) |
|
|
|
|||||
|
( |
|
- |
( |
( |
|
Stotts Group Limited
Notes to the Financial Statements
for the Year Ended 31 December 2025
|
Related party transactions |
Group
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Post-employment benefits |
|
|
|
|
|
Summary of transactions with other related parties
Company
Summary of transactions with subsidiaries
Where the company has trading transactions and debtor and creditor balances with other wholly owned subsidiaries within the group, the company has taken advantage of the exemption in FRS 102 paragraph 33.1A from disclosure as consolidated accounts are available.