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1 General information and accounting policies
Wickes Group Plc (the \u2018Company\u2019) is a limited company in the United Kingdom, incorporated under the
Companies Act 2006. The registered office of the Company is Vision House, 19 Colonial Way, Watford,
WD24 4JL .
The consolidated financial statements represent the results of the Company and its subsidiaries (together
referred to as the \u2018Group\u2019).
The principal activity of the Group is the operation of retail DIY stores across the United Kingdom.
Basis of accounting
The annual financial statements of the Group for the 52 weeks ending 27 December 2025 have been prepared
in accordance with UK-adopted international accounting standards. The comparative financial period was 52
weeks to 28 December 2024.
The Company has elected to prepare its Parent Company financial statements in accordance with Financial
Reporting Standard 102 \u201cThe Financial Reporting Standard applicable in the UK and Republic of Ireland\u201d; these
are presented on pages 155 to 159.
Basis of preparation
The consolidated financial statements have been prepared on the historical cost basis, except that certain
financial instruments including derivative instruments, and certain share-based payments are stated at their fair
value.
Going concern
Based on the Group\u2019s liquidity position and cash flow projections, including a forward looking severe but
plausible scenario, the Directors have a reasonable expectation that the Company and the Group have adequate
resources to continue in operational existence for the duration of the going concern period, being the 12 month
period following the date of approval of these financial statements, and accordingly they continue to adopt the
going concern basis of accounting in preparing the consolidated financial statements for the period ended
27 December 2025.
The Directors have considered the Group\u2019s business activities, together with the factors likely to affect its future
development, performance and position, the principal risks, alongside the current financial position of the Group,
its cash flows, liquidity position and borrowing facilities and how they may impact going concern.
The Directors do not consider going concern to be a critical accounting judgement. In determining this the
Directors have taken into account the ongoing profitability and positive operating cashflow in 2025, despite the
impacts of the softer economic environment in the UK. Although the Group saw continuing cost pressures in
the 2025 financial year, the Group continues to demonstrate the flexibility of Wickes\u2019 operational model,
including a number of actions undertaken to both respond to more challenging market conditions and to
continue to drive efficiencies within the business in 2026.
At 27 December 2025, cash and cash equivalents stood at \u00a391.7m. In addition the Group had available an
undrawn committed Revolving Credit Facility (RCF) of \u00a380m, expiring in March 2029, and which is not forecast
to be utilised for a period of at least 12 months.
Lease liabilities of \u00a3719.8m are included on the balance sheet under IFRS 16, with \u00a384.3m due within one year:
the Group has no other debt obligations.
In considering whether the Group\u2019s financial statements can be prepared on a going concern basis, the
Directors have undertaken a detailed review which entails assessing the Group\u2019s current and projected financial
performance and position, including current assets and liabilities, debt maturity profile, future commitments
and forecast cash flows. In forming their outlook on the future financial performance, the Directors considered
the risk of higher business volatility arising from the potential negative impact of the general economic
environment.
The Directors\u2019 review also included a severe but plausible scenario to assess the impact of a sales reduction
from 2026\u2019s budget, a margin reduction and an operational shock (e.g. a cyber attack or a disease outbreak)
which requires the business to shut down fully for a short period of time, together with increases to energy
costs and staff costs. Under this combined severe but plausible scenario the Group would encounter a negative
cash position for one period.
However, if this scenario materialised, the Group could apply a controlled and limited set of mitigations to
preserve a positive cash balance, and these do not assume utilisation of the RCF. As this does not require use of
the facility at any point, any covenant breach in this combined scenario does not indicate a risk to going
concern. Nevertheless, if required, there are further measures that could be taken to assist with the covenant
compliance if this was considered necessary, including reducing bonuses and discretionary spend in the short
term.
The Directors remain watchful of ongoing pressures on customers and suppliers given the current economic
environment and are aware that the Group is exposed to a number of risks and uncertainties, which could affect
the Group\u2019s ability to meet its forecasts. The Directors believe that the Group has the flexibility to react to
changing market conditions and is adequately placed to manage its business risks successfully.
2 Accounting Policies
Functional and presentational currency
The financial information is presented in Pounds Sterling, the currency of the primary economic environment in
which the Group operates. All amounts in the financial statements have been rounded to the nearest \u00a30.1m
except where otherwise noted.
Transactions denominated in foreign currencies are recorded at the rates ruling on the date of the transaction.
At the balance sheet date, monetary assets and liabilities denominated in foreign currencies are translated at
the rate of exchange ruling at that date. Foreign exchange differences arising on translation are recognised in
the income statement.
Business segments
The operating segments are identified on the basis of internal reports about components of the Group that are
regularly reviewed by the Chief Operating Decision Maker (\u201cCODM\u201d), which is considered to be the Executive
Board of Directors, to assess performance and allocate capital. Management considers there to be one
operating segment.
Alternative Performance Measures
The Group presents Alternative Performance Measures (\u201cAPMs\u201d) in addition to the statutory results of the
Group. These are presented in accordance with the Guidelines on APMs issued by the European Securities and
Markets Authority (\u201cESMA\u201d). APMs used by the Group are set out in note 32 and the reconciling items between
statutory and adjusted results are listed below and described in more detail in note 9.
Adjusting items are those items of income and expenditure that, by reference to the Group, are material in size
or unusual in nature or incidence and that in the judgement of the Directors should be disclosed separately to
ensure both that the reader has an understanding of the Group\u2019s underlying trading performance and that there
is comparability of financial performance between periods.
Items of income or expense that are considered by the Directors for designation as adjusting items include, but
are not limited to, significant restructurings, incremental costs relating to corporate transactions, significant
write downs or impairments (or impairment reversals) of current and non-current assets, the net unrealised
gains and losses on remeasurement of derivatives held at fair value, and the effect of changes in corporation tax
rates on deferred tax balances.
2.1 Impact of new standards and interpretations
The following standards and interpretations, which have not yet been applied in these consolidated financial
statements, have been issued by the IASB but not yet adopted by the UK Endorsement Board:
\u2013 Targeted amendments to IFRS 9 \u2013 Financial Instruments and IFRS 7 \u2013 Financial Instruments: Disclosures
\u2013 IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures
The following standards have been adopted by the UK Endorsement Board but are not yet effective for the
Group:
\u2013 Amendments to IFRS 9 \u2013 Financial Instruments and IFRS 7 \u2013 Financial Instruments: Disclosures for
classification and measurement of financial instruments
\u2013 Amendments to IAS 21 \u2013 Lack of exchangeability
\u2013 IFRS 18 \u2013 Presentation and Disclosure in Financial Statements
Adoption of IFRS 18 \u2013 Presntation and Disclosure in Financial statements will result predominantly in significant
changes to the presentation of the Consolidated Income Statement. The other standards noted are not
expected to have a material impact on the financial statements.
2.2 Revenue
Revenue is recognised when the Group has satisfied its performance obligations to the customer and the
customer has obtained control of the goods or services being transferred. Revenue is measured at the
transaction price received or receivable less a deduction for actual and expected returns and represents
amounts receivable for goods and services provided in the normal course of business including delivery
charges, net of discounts and value added tax.
Customers are entitled to return goods for a period after purchase. A right of return is not a separate
performance obligation and the Group is required to recognise revenue net of estimated returns. A refund
liability and a corresponding asset in inventory representing the right to recover products from the customer are
Services comprise kitchen, bathroom and solar installations and these are typically completed over a short period of time. The Group does not sell installation services separately from the sale of kitchen, bathroom and solar products. Control of installed kitchens, bathrooms and solar panels passes to the customer when the Group has fulfilled its obligations under the installation contract and revenue from the installation of kitchens, bathrooms and solar panels is recognised at this point. 2.3 Other Income Other income comprises income that is incidental to the Company\u2019s core trading activity and therefore does not meet the criteria for recognition as revenue. For the Company this includes, but is not limited to, sublease rental income and concession income. 2.4 Inventories Inventories, which consist of goods for resale, are stated at the lower of cost and net realisable value. Cost 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. Net realisable value is the estimated selling price less the estimated costs of disposal. Cost of inventories In determining the cost of inventories the Directors have to make estimates to arrive at cost and net realisable value. Determining the net realisable value of the wide range of products held in many locations requires an assessment to be applied to determine the likely saleability of the product and the potential price that can be achieved. In arriving at any provisions for net realisable value the Directors take into account the age, condition and quality of the product stocked and the recent trend in sales. The Group does not consider that there is a significant risk of material adjustment arising within the next financial period as a result of this estimate. 2.5 Tax The tax expense represents the sum of the tax payable and deferred tax. Current tax Tax payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it excludes items of income and expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the balance sheet date. Deferred tax Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. This is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction (other than in a business combination) that affects neither the taxable profit nor the accounting profit. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised based on tax laws and rates that have been enacted or substantially enacted at the balance sheet date. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. In respect of the deferred tax on IFRS 16 leases, Wickes Building Supplies Limited applies tax deductions for the payment of rent, effectively the settlement of the IFRS 16 lease liability, including any onerous lease element that might be required under FRS 102, and a deferred tax liability in respect of the corresponding Right-of-Use asset. No initial recognition exception was utilised in respect of these. They are presented as the net deferred tax asset/liability in the balance sheet and in the leases column of the deferred tax note. 2.6 Goodwill and other intangible assets Goodwill Goodwill arising on acquisition represents the excess of the cost of acquisition over the share of the aggregate fair value of identifiable net assets (including intangible assets) of a business or a subsidiary at the date of acquisition. Goodwill is initially recognised as an asset and allocated to cash generating units or groups of cash generating units that are expected to benefit from the synergies of the combination and is then reviewed at least annually for impairment. Any impairment is recognised immediately in the income statement and is not reversed. Goodwill is accordingly stated in the balance sheet at cost less any provisions for impairment in value. Other intangible assets Other intangible assets consists primarily of software. The directly attributable costs incurred for the development of computer software controlled by and for use within the Group are capitalised and written off as an expense over their estimated useful lives, which range from 3 years to 10 years. Software operated under a \u2018Software as a Service\u2019 model is not considered to be controlled by the Group and is expensed directly to the Income Statement. No amortisation is charged on computer software under construction. Costs relating to research, maintenance and training are expensed as they are incurred. Licence fees for using third-party software which is not controlled by the Group are expensed over the period the software is in use. 2.7 Property, plant and equipment Property, plant and equipment is stated at cost less accumulated depreciation and any impairment in value, adjusted for impairment reversals. Assets are depreciated to their estimated residual value on a straight-line basis over their estimated useful lives as follows \u2013 Leasehold improvements \u2013 term of the lease \u2013 Plant and equipment \u2013 3 to 10 years \u2013 Freehold buildings \u2013 over remaining useful life The residual value and useful life of assets are reviewed annually. The gain or loss arising on the disposal or retirement of an asset is determined as the difference between the sale proceeds net of expenses and the carrying amount of the asset in the balance sheet and is recognised in the income statement.
2.8 Supplier income
Supplier income comprises fixed price discounts and volume rebates. Fixed price discounts and volume rebates
received and receivable in respect of goods which have been sold are initially deducted from the cost of
inventory and therefore reduce cost of sales in the income statement when the goods are sold.
Where goods on which the fixed price discount or volume rebate has been earned remain in inventory
at the period end, the cost of that inventory reflects those discounts and rebates.
Supplier income receivable is netted off against trade payables when there is a legally binding arrangement in
place and it is management\u2019s intention to settle net, otherwise amounts are included in other receivables in the
balance sheet.
2.9 Trade and other receivables
The Group\u2019s trade and other receivables at the balance sheet date comprises principally of amounts receivable
from the sale of goods and related services, amounts due in respect of rebates and sundry prepayments.
Trade receivables, which are held at amortised cost, are subject to the expected credit loss model in IFRS 9
\u2013 Financial Instruments. The Group applies the IFRS 9 \u2013 Financial Instruments simplified approach to
measuring expected credit losses. This uses a lifetime expected loss allowance for all trade receivables.
To measure the expected credit losses, trade receivables have been grouped based on shared credit risk
characteristics and the days past due.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no
reasonable expectation of recovery include the failure of a debtor to engage in a repayment plan with the Group
and the commencement of legal proceedings.
2.10 Provisions
A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation
because of a past event, it is probable that an outflow of economic benefits will be required to settle the
obligation and the amount can be measured reliably. Provisions are measured at the Directors\u2019 best estimate of
the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value if
the effect of the time value of money is material.
Should a provision ultimately prove to be unnecessary then it is credited back to the income statement. Where
the provision was originally established as an adjusting item, any release is shown as an adjusting credit.
The Group\u2019s stores operate from a significant number of leased properties. Where necessary, a provision has
been made for the residual commitments for rates, other payments, and expected dilapidations charges after
taking into account existing and anticipated subtenant arrangements.
It is Group policy to insure itself using policies with a high excess against claims arising in respect of damage to
assets, or due to employers or public liability claims. The nature of insurance claims means they may take some
time to be settled. The insurance claims provision represents management\u2019s best estimate, based upon
external advice, of the value of outstanding claims against it where the final settlement date is uncertain.
The Group provides a guarantee on showroom kitchen cabinets, doors, drawer fronts and showroom bathroom
products. The Group provides for future estimated costs of providing this guarantee on kitchens and bathrooms
that have been previously sold. The provision includes future costs for installation workmanship as well as
product cost.
2.11 Trade payables and liabilities
Trade and other payables principally comprise amounts outstanding for trade purchases and ongoing costs
and are measured at amortised cost. The Directors consider that the carrying amount of trade payables
approximates to their fair value.
2.12 Employee benefits \u2013 pensions
Payments to defined contribution retirement benefit schemes are recognised as an expense when employees
have rendered services entitling them to the contributions.
2.13 Equity
Equity instruments represent the ordinary share capital of the Group and are recorded at the proceeds received,
net of directly attributable incremental issue costs.
A description of the nature and purpose of each reserve is given below:
\u2013 EBT share reserves represent shares held by the Group in connection with the operations of the Group\u2019s
share plans.
\u2013 The \u2018Other reserves\u2019 was created on the acquisition in March 2020 by Wickes Group Plc of Wickes Group
Holdings Limited and by Wickes Group Holdings Limited of Wickes Building Supplies Limited and Wickes
Finance Limited, via share for share exchanges, and represents the difference between the carrying
value of the assets and liabilities of the acquired companies and the nominal value and premium of
the shares issued.
\u2013 The capital redemption reserve represents the amounts transferred from share capital on the repurchase of
issued shares.
\u2013 Retained earnings represents cumulative results for the Group.
2.14 Share repurchases
Shares purchased for cancellation are deducted from retained earnings. Share capital is reduced and credited to
the capital redemption reserve once shares are cancelled.
2.15 Leases
IFRS 16 \u2013 Leases establishes principles for the recognition, measurement, presentation and disclosure of
leases, with the objective of ensuring that lessees and lessors provide relevant information that faithfully
represents those transactions.
Identifying a lease
At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or
contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange
for consideration. Control is conveyed where the Group has both the right to direct the identified asset\u2019s use and
to obtain substantially all the economic benefits from that use.
At inception or on reassessment of a contract that contains a lease component, the Group allocates the
consideration in the contract to each lease component on the basis of their relative stand-alone prices.
However, for plant and equipment leases in which it is a lessee, the Group has elected not to separate non-lease
components and account for the lease and non-lease components as a single lease component.
For each lease or lease component, the Group follows the lease accounting model as per IFRS 16 \u2013 Leases,
unless the recognition exceptions can be used.
Recognition exceptions
The Group has elected to account for lease payments as an expense on a straight-line basis over the lease term
or another systematic basis for the following two types of leases:
(i) leases with a lease term of 12 months or less and containing no purchase options \u2013 this election is made by
class of underlying asset; and
(ii) leases where the underlying asset has a low value when new \u2013 this election can be made on a lease-by-lease
basis, for leases where the Group has taken short-term lease recognition exemption and there are any
changes to the lease term or the lease is modified, the Group accounts for the lease as a new lease.
Lessee accounting
Upon lease commencement the Group recognises a right-of-use asset and a lease liability.
Initial measurement
The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability
adjusted for any lease payments made at or before the commencement date, plus any initial direct costs
incurred, and includes an estimate of costs to restore the underlying asset or the site on which it is located,
when an obligation is considered probable to arise, less any lease incentives received.
The lease liability is initially measured at the present value of the lease payments payable over the lease term,
discounted at the rate implicit in the lease if that can be readily determined. If that rate cannot be readily
determined, the Group uses the incremental borrowing rate.
Variable lease payments that depend on an index or a rate are included in the initial measurement of the lease
liability and are initially measured using the index or rate as at the commencement date. Amounts expected to
be payable by the lessee under residual value guarantees are also included. Variable lease payments that are
not included in the measurement of the lease liability are recognised in the income statement in the period in
which the event or condition that triggers payment occurs, unless the costs are included in the carrying amount
of another asset under another accounting standard.
Subsequent measurement
After lease commencement, the Group measures right-of-use assets using a cost model. Under the
cost model a right-of-use asset is measured at cost less accumulated depreciation and accumulated
impairment. Any impairment reversal reduces accumulated impairment previously recognised to the extent that
the revised net book value does not exceed the amount that would have been recognised had no impairment
occurred previously. An impairment reversal excludes any impact resulting from the passage of time.
The lease liability is subsequently remeasured to reflect changes in:
\u2013 the lease term (using a revised discount rate)
\u2013 the assessment of a purchase option (using a revised discount rate)
\u2013 the amounts expected to be payable under residual value guarantees (using an unchanged discount rate)
\u2013 future lease payments resulting from a change in an index or a rate used to determine those payments (using
an unchanged discount rate)
The remeasurements are matched by adjustments to the right-of-use asset. Additionally, direct costs incurred
as part of obtaining an additional lease term are added to the right-of-use asset.
Depreciation The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of property, plant and equipment. In addition, the right-of-use asset is reduced by impairment losses, if any, and adjusted impairment reversals or for certain remeasurements of the lease liability. Lessor accounting When the Group acts as a lessor, it determines at lease inception whether each lease is a finance or operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all the risks and rewards incidental to ownership of an underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset. The Group recognises operating lease payments as income on a straight-line basis over the lease term as part of \u2018other income\u2019. The Group recognises finance income over the lease term of a finance lease, based on a pattern reflecting a constant periodic rate of return on the net investment. 2.16 Borrowings Interest bearing bank loans and overdrafts and other loans are recognised in the balance sheet initially at fair value and subsequently at amortised cost. Finance charges associated with arranging the undrawn revolving credit facility are recognised in the income statement over the life of the facility. All other borrowing costs are recognised in the income statement in accordance with the effective interest rate method. 2.17 Net debt Net debt comprises cash and cash equivalents (being cash balances net of overdrafts) and the carrying value of lease liabilities. The carrying amount of these assets and liabilities approximates to their fair value. 2.18 Financial instruments classification The Group classifies its financial instruments in the following measurement categories: \u2013 those to be measured subsequently at fair value through profit or loss (FVTPL); and those to be measured at amortised cost. The classification depends on the business model for managing the financial instruments and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income (FVOCI). For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at FVTPL or at FVOCI. The Group reclassifies debt investments when and only when its business model for managing those assets changes. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Impairment The Group assesses on a forward looking basis the expected credit losses associated with debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables. 2.19 Impairment Impairment of tangible and intangible assets The carrying amounts of the Group\u2019s tangible and intangible assets with a definite useful life are reviewed at each balance sheet date to determine whether there is any indication of impairment to their value. If such an indication exists, the asset\u2019s recoverable amount is estimated and compared to its carrying value. Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit (CGU) to which the asset belongs. The Group has determined that each store is a separate CGU. The recoverable amount of an asset is the greater of its fair value less disposal cost and its value-in-use (the present value of the future cash flows that the asset is expected to generate). In determining value in use the present value of future cash flows is discounted using a pre-tax discount rate that reflects current market assessments of the time value of money in relation to the period of the investment and the risks specific to the asset concerned. The carrying value of CGUs includes right-of-use assets. Where the carrying value exceeds the recoverable amount a provision for the impairment loss is established with a charge being made to the income statement. When the reasons for a write down no longer exist the write down is reversed in the income statement up to the net book value that the relevant asset would have had if it had not been written down and if it had been depreciated. An impairment reversal excludes any impact resulting from the passage of time. For intangible assets that have an indefinite useful life the recoverable amount is estimated at each annual balance sheet date. Measuring recoverable amounts The Group tests goodwill for impairment annually or more frequently if there are indications that an impairment may have occurred. The recoverable amount of the goodwill is determined from value in use calculations. 2.20 Share-based payments The Group issues equity-settled share-based payments to directors and certain employees. Equity-settled share-based payments are measured at fair value (excluding the effect of non market-based vesting conditions) at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, having been adjusted to reflect an estimate of shares that will eventually vest and for the effect of non market-based vesting conditions. Fair value is measured by use of the Black-Scholes pricing model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management\u2019s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.
2.21 Post balance sheet events
These accounts reflect events only up to the date on which the relevant underlying consolidated financial
statements were approved.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-309": { "value": "Wickes Group Plc (the \u2018Company\u2019) is a limited company in the United Kingdom, incorporated under the Companies Act 2006. The registered office of the Company is Vision House, 19 Colonial Way, Watford, WD24 4JL . The consolidated financial statements represent the results of the Company and its subsidiaries (together referred to as the \u2018Group\u2019). The principal activity of the Group is the operation of retail DIY stores across the United Kingdom. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-2": { "value": "Wickes Group Plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-305": { "value": "Wickes Group Plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-3": { "value": "limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-4": { "value": "Kingdom", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-5": { "value": "Vision House, 19 Colonial Way, Watford, WD24 4JL ", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-6": { "value": "The principal activity of the Group is the operation of retail DIY stores across the United Kingdom. ", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-310": { "value": "Basis of accounting The annual financial statements of the Group for the 52 weeks ending 27 December 2025 have been prepared in accordance with UK-adopted international accounting standards. The comparative financial period was 52 weeks to 28 December 2024. The Company has elected to prepare its Parent Company financial statements in accordance with Financial Reporting Standard 102 \u201cThe Financial Reporting Standard applicable in the UK and Republic of Ireland\u201d; these are presented on pages 155 to 159. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-311": { "value": "Basis of preparation The consolidated financial statements have been prepared on the historical cost basis, except that certain financial instruments including derivative instruments, and certain share-based payments are stated at their fair value. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-312": { "value": "Going concern Based on the Group\u2019s liquidity position and cash flow projections, including a forward looking severe but plausible scenario, the Directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for the duration of the going concern period, being the 12 month period following the date of approval of these financial statements, and accordingly they continue to adopt the going concern basis of accounting in preparing the consolidated financial statements for the period ended 27 December 2025. The Directors have considered the Group\u2019s business activities, together with the factors likely to affect its future development, performance and position, the principal risks, alongside the current financial position of the Group, its cash flows, liquidity position and borrowing facilities and how they may impact going concern. The Directors do not consider going concern to be a critical accounting judgement. In determining this the Directors have taken into account the ongoing profitability and positive operating cashflow in 2025, despite the impacts of the softer economic environment in the UK. Although the Group saw continuing cost pressures in the 2025 financial year, the Group continues to demonstrate the flexibility of Wickes\u2019 operational model, including a number of actions undertaken to both respond to more challenging market conditions and to continue to drive efficiencies within the business in 2026. At 27 December 2025, cash and cash equivalents stood at \u00a391.7m. In addition the Group had available an undrawn committed Revolving Credit Facility (RCF) of \u00a380m, expiring in March 2029, and which is not forecast to be utilised for a period of at least 12 months. Lease liabilities of \u00a3719.8m are included on the balance sheet under IFRS 16, with \u00a384.3m due within one year: the Group has no other debt obligations. In considering whether the Group\u2019s financial statements can be prepared on a going concern basis, the Directors have undertaken a detailed review which entails assessing the Group\u2019s current and projected financial performance and position, including current assets and liabilities, debt maturity profile, future commitments and forecast cash flows. In forming their outlook on the future financial performance, the Directors considered the risk of higher business volatility arising from the potential negative impact of the general economic environment. The Directors\u2019 review also included a severe but plausible scenario to assess the impact of a sales reduction from 2026\u2019s budget, a margin reduction and an operational shock (e.g. a cyber attack or a disease outbreak) which requires the business to shut down fully for a short period of time, together with increases to energy costs and staff costs. Under this combined severe but plausible scenario the Group would encounter a negative cash position for one period. However, if this scenario materialised, the Group could apply a controlled and limited set of mitigations to preserve a positive cash balance, and these do not assume utilisation of the RCF. As this does not require use of the facility at any point, any covenant breach in this combined scenario does not indicate a risk to going concern. Nevertheless, if required, there are further measures that could be taken to assist with the covenant compliance if this was considered necessary, including reducing bonuses and discretionary spend in the short term. The Directors remain watchful of ongoing pressures on customers and suppliers given the current economic environment and are aware that the Group is exposed to a number of risks and uncertainties, which could affect the Group\u2019s ability to meet its forecasts. The Directors believe that the Group has the flexibility to react to changing market conditions and is adequately placed to manage its business risks successfully. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-313": { "value": "Functional and presentational currency The financial information is presented in Pounds Sterling, the currency of the primary economic environment in which the Group operates. All amounts in the financial statements have been rounded to the nearest \u00a30.1m except where otherwise noted. Transactions denominated in foreign currencies are recorded at the rates ruling on the date of the transaction. At the balance sheet date, monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-362": { "value": "Transactions denominated in foreign currencies are recorded at the rates ruling on the date of the transaction. At the balance sheet date, monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-314": { "value": "Business segments The operating segments are identified on the basis of internal reports about components of the Group that are regularly reviewed by the Chief Operating Decision Maker (\u201cCODM\u201d), which is considered to be the Executive Board of Directors, to assess performance and allocate capital. Management considers there to be one operating segment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-315": { "value": "Alternative Performance Measures The Group presents Alternative Performance Measures (\u201cAPMs\u201d) in addition to the statutory results of the Group. These are presented in accordance with the Guidelines on APMs issued by the European Securities and Markets Authority (\u201cESMA\u201d). APMs used by the Group are set out in note 32 and the reconciling items between statutory and adjusted results are listed below and described in more detail in note 9. Adjusting items are those items of income and expenditure that, by reference to the Group, are material in size or unusual in nature or incidence and that in the judgement of the Directors should be disclosed separately to ensure both that the reader has an understanding of the Group\u2019s underlying trading performance and that there is comparability of financial performance between periods. Items of income or expense that are considered by the Directors for designation as adjusting items include, but are not limited to, significant restructurings, incremental costs relating to corporate transactions, significant write downs or impairments (or impairment reversals) of current and non-current assets, the net unrealised gains and losses on remeasurement of derivatives held at fair value, and the effect of changes in corporation tax rates on deferred tax balances. ", "dimensions": { "concept": "wickesgroupplc:DescriptionOfAccountingPolicyForAlternativePerformanceMeasures", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-363": { "value": "2.1 Impact of new standards and interpretations The following standards and interpretations, which have not yet been applied in these consolidated financial statements, have been issued by the IASB but not yet adopted by the UK Endorsement Board: \u2013 Targeted amendments to IFRS 9 \u2013 Financial Instruments and IFRS 7 \u2013 Financial Instruments: Disclosures \u2013 IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures The following standards have been adopted by the UK Endorsement Board but are not yet effective for the Group: \u2013 Amendments to IFRS 9 \u2013 Financial Instruments and IFRS 7 \u2013 Financial Instruments: Disclosures for classification and measurement of financial instruments \u2013 Amendments to IAS 21 \u2013 Lack of exchangeability \u2013 IFRS 18 \u2013 Presentation and Disclosure in Financial Statements Adoption of IFRS 18 \u2013 Presntation and Disclosure in Financial statements will result predominantly in significant changes to the presentation of the Consolidated Income Statement. The other standards noted are not expected to have a material impact on the financial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-316": { "value": "2.1 Impact of new standards and interpretations The following standards and interpretations, which have not yet been applied in these consolidated financial statements, have been issued by the IASB but not yet adopted by the UK Endorsement Board: \u2013 Targeted amendments to IFRS 9 \u2013 Financial Instruments and IFRS 7 \u2013 Financial Instruments: Disclosures \u2013 IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures The following standards have been adopted by the UK Endorsement Board but are not yet effective for the Group: \u2013 Amendments to IFRS 9 \u2013 Financial Instruments and IFRS 7 \u2013 Financial Instruments: Disclosures for classification and measurement of financial instruments \u2013 Amendments to IAS 21 \u2013 Lack of exchangeability \u2013 IFRS 18 \u2013 Presentation and Disclosure in Financial Statements Adoption of IFRS 18 \u2013 Presntation and Disclosure in Financial statements will result predominantly in significant changes to the presentation of the Consolidated Income Statement. The other standards noted are not expected to have a material impact on the financial statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-319": { "value": "2.2 Revenue Revenue is recognised when the Group has satisfied its performance obligations to the customer and the customer has obtained control of the goods or services being transferred. Revenue is measured at the transaction price received or receivable less a deduction for actual and expected returns and represents amounts receivable for goods and services provided in the normal course of business including delivery charges, net of discounts and value added tax. Customers are entitled to return goods for a period after purchase. A right of return is not a separate performance obligation and the Group is required to recognise revenue net of estimated returns. A refund liability and a corresponding asset in inventory representing the right to recover products from the customer are recognised. Services comprise kitchen, bathroom and solar installations and these are typically completed over a short period of time. The Group does not sell installation services separately from the sale of kitchen, bathroom and solar products. Control of installed kitchens, bathrooms and solar panels passes to the customer when the Group has fulfilled its obligations under the installation contract and revenue from the installation of kitchens, bathrooms and solar panels is recognised at this point. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-317": { "value": "
2.3 Other Income
Other income comprises income that is incidental to the Company\u2019s core trading activity and therefore does not
meet the criteria for recognition as revenue. For the Company this includes, but is not limited to, sublease rental
income and concession income.
", "dimensions": { "concept": "wickesgroupplc:DescriptionOfAccountingPolicyForOtherIncome", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-318": { "value": "
2.4 Inventories
Inventories, which consist of goods for resale, are stated at the lower of cost and net realisable value. Cost
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. Net realisable value is the estimated
selling price less the estimated costs of disposal.
Cost of inventories
In determining the cost of inventories the Directors have to make estimates to arrive at cost and net realisable
value. Determining the net realisable value of the wide range of products held in many locations requires an
assessment to be applied to determine the likely saleability of the product and the potential price that can be
achieved. In arriving at any provisions for net realisable value the Directors take into account the age, condition
and quality of the product stocked and the recent trend in sales. The Group does not consider that there is a
significant risk of material adjustment arising within the next financial period as a result of this estimate.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-320": { "value": "2.5 Tax The tax expense represents the sum of the tax payable and deferred tax. Current tax Tax payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the income statement because it excludes items of income and expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the balance sheet date. Deferred tax Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. This is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction (other than in a business combination) that affects neither the taxable profit nor the accounting profit. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised based on tax laws and rates that have been enacted or substantially enacted at the balance sheet date. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
In respect of the deferred tax on IFRS 16 leases, Wickes Building Supplies Limited applies tax deductions for the
payment of rent, effectively the settlement of the IFRS 16 lease liability, including any onerous lease element
that might be required under FRS 102, and a deferred tax liability in respect of the corresponding Right-of-Use
asset. No initial recognition exception was utilised in respect of these. They are presented as the net deferred
tax asset/liability in the balance sheet and in the leases column of the deferred tax note.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-364": { "value": "Deferred tax Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. This is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction (other than in a business combination) that affects neither the taxable profit nor the accounting profit. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised based on tax laws and rates that have been enacted or substantially enacted at the balance sheet date. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. In respect of the deferred tax on IFRS 16 leases, Wickes Building Supplies Limited applies tax deductions for the payment of rent, effectively the settlement of the IFRS 16 lease liability, including any onerous lease element that might be required under FRS 102, and a deferred tax liability in respect of the corresponding Right-of-Use asset. No initial recognition exception was utilised in respect of these. They are presented as the net deferred tax asset/liability in the balance sheet and in the leases column of the deferred tax note. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-321": { "value": "2.6 Goodwill and other intangible assets Goodwill Goodwill arising on acquisition represents the excess of the cost of acquisition over the share of the aggregate fair value of identifiable net assets (including intangible assets) of a business or a subsidiary at the date of acquisition. Goodwill is initially recognised as an asset and allocated to cash generating units or groups of cash generating units that are expected to benefit from the synergies of the combination and is then reviewed at least annually for impairment. Any impairment is recognised immediately in the income statement and is not reversed. Goodwill is accordingly stated in the balance sheet at cost less any provisions for impairment in value. Other intangible assets Other intangible assets consists primarily of software. The directly attributable costs incurred for the development of computer software controlled by and for use within the Group are capitalised and written off as an expense over their estimated useful lives, which range from 3 years to 10 years. Software operated under a \u2018Software as a Service\u2019 model is not considered to be controlled by the Group and is expensed directly to the Income Statement. No amortisation is charged on computer software under construction. Costs relating to research, maintenance and training are expensed as they are incurred. Licence fees for using third-party software which is not controlled by the Group are expensed over the period the software is in use.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-365": { "value": "Goodwill Goodwill arising on acquisition represents the excess of the cost of acquisition over the share of the aggregate fair value of identifiable net assets (including intangible assets) of a business or a subsidiary at the date of acquisition. Goodwill is initially recognised as an asset and allocated to cash generating units or groups of cash generating units that are expected to benefit from the synergies of the combination and is then reviewed at least annually for impairment. Any impairment is recognised immediately in the income statement and is not reversed. Goodwill is accordingly stated in the balance sheet at cost less any provisions for impairment in value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-366": { "value": "
Other intangible assets
Other intangible assets consists primarily of software. The directly attributable costs incurred for the
development of computer software controlled by and for use within the Group are capitalised and written off as
an expense over their estimated useful lives, which range from 3 years to 10 years. Software operated under a
\u2018Software as a Service\u2019 model is not considered to be controlled by the Group and is expensed directly to the
Income Statement. No amortisation is charged on computer software under construction.
Costs relating to research, maintenance and training are expensed as they are incurred. Licence fees for using
third-party software which is not controlled by the Group are expensed over the period the software is in use.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-322": { "value": "
2.7 Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and any impairment in value,
adjusted for impairment reversals. Assets are depreciated to their estimated residual value on a straight-line
basis over their estimated useful lives as follows
\u2013 Leasehold improvements \u2013 term of the lease
\u2013 Plant and equipment \u2013 3 to 10 years
\u2013 Freehold buildings \u2013 over remaining useful life
The residual value and useful life of assets are reviewed annually.
The gain or loss arising on the disposal or retirement of an asset is determined as the difference between the
sale proceeds net of expenses and the carrying amount of the asset in the balance sheet and is recognised in
the income statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-367": { "value": "2.7 Property, plant and equipment Property, plant and equipment is stated at cost less accumulated depreciation and any impairment in value, adjusted for impairment reversals. Assets are depreciated to their estimated residual value on a straight-line basis over their estimated useful lives as follows \u2013 Leasehold improvements \u2013 term of the lease \u2013 Plant and equipment \u2013 3 to 10 years \u2013 Freehold buildings \u2013 over remaining useful life The residual value and useful life of assets are reviewed annually. The gain or loss arising on the disposal or retirement of an asset is determined as the difference between the sale proceeds net of expenses and the carrying amount of the asset in the balance sheet and is recognised in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-368": { "value": "2.8 Supplier income Supplier income comprises fixed price discounts and volume rebates. Fixed price discounts and volume rebates received and receivable in respect of goods which have been sold are initially deducted from the cost of inventory and therefore reduce cost of sales in the income statement when the goods are sold. Where goods on which the fixed price discount or volume rebate has been earned remain in inventory at the period end, the cost of that inventory reflects those discounts and rebates. Supplier income receivable is netted off against trade payables when there is a legally binding arrangement in place and it is management\u2019s intention to settle net, otherwise amounts are included in other receivables in the balance sheet. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-323": { "value": "2.8 Supplier income Supplier income comprises fixed price discounts and volume rebates. Fixed price discounts and volume rebates received and receivable in respect of goods which have been sold are initially deducted from the cost of inventory and therefore reduce cost of sales in the income statement when the goods are sold. Where goods on which the fixed price discount or volume rebate has been earned remain in inventory at the period end, the cost of that inventory reflects those discounts and rebates. Supplier income receivable is netted off against trade payables when there is a legally binding arrangement in place and it is management\u2019s intention to settle net, otherwise amounts are included in other receivables in the balance sheet. ", "dimensions": { "concept": "wickesgroupplc:DescriptionOfAccountingPolicyForSupplierIncome", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-324": { "value": "2.9 Trade and other receivables The Group\u2019s trade and other receivables at the balance sheet date comprises principally of amounts receivable from the sale of goods and related services, amounts due in respect of rebates and sundry prepayments. Trade receivables, which are held at amortised cost, are subject to the expected credit loss model in IFRS 9 \u2013 Financial Instruments. The Group applies the IFRS 9 \u2013 Financial Instruments simplified approach to measuring expected credit losses. This uses a lifetime expected loss allowance for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include the failure of a debtor to engage in a repayment plan with the Group and the commencement of legal proceedings. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-325": { "value": "2.10 Provisions A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation because of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be measured reliably. Provisions are measured at the Directors\u2019 best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value if the effect of the time value of money is material. Should a provision ultimately prove to be unnecessary then it is credited back to the income statement. Where the provision was originally established as an adjusting item, any release is shown as an adjusting credit. The Group\u2019s stores operate from a significant number of leased properties. Where necessary, a provision has been made for the residual commitments for rates, other payments, and expected dilapidations charges after taking into account existing and anticipated subtenant arrangements. It is Group policy to insure itself using policies with a high excess against claims arising in respect of damage to assets, or due to employers or public liability claims. The nature of insurance claims means they may take some time to be settled. The insurance claims provision represents management\u2019s best estimate, based upon external advice, of the value of outstanding claims against it where the final settlement date is uncertain. The Group provides a guarantee on showroom kitchen cabinets, doors, drawer fronts and showroom bathroom products. The Group provides for future estimated costs of providing this guarantee on kitchens and bathrooms that have been previously sold. The provision includes future costs for installation workmanship as well as product cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-326": { "value": "2.11 Trade payables and liabilities Trade and other payables principally comprise amounts outstanding for trade purchases and ongoing costs and are measured at amortised cost. The Directors consider that the carrying amount of trade payables approximates to their fair value.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-327": { "value": "2.12 Employee benefits \u2013 pensions Payments to defined contribution retirement benefit schemes are recognised as an expense when employees have rendered services entitling them to the contributions.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-328": { "value": "2.13 Equity Equity instruments represent the ordinary share capital of the Group and are recorded at the proceeds received, net of directly attributable incremental issue costs. A description of the nature and purpose of each reserve is given below: \u2013 EBT share reserves represent shares held by the Group in connection with the operations of the Group\u2019s share plans. \u2013 The \u2018Other reserves\u2019 was created on the acquisition in March 2020 by Wickes Group Plc of Wickes Group Holdings Limited and by Wickes Group Holdings Limited of Wickes Building Supplies Limited and Wickes Finance Limited, via share for share exchanges, and represents the difference between the carrying value of the assets and liabilities of the acquired companies and the nominal value and premium of the shares issued. \u2013 The capital redemption reserve represents the amounts transferred from share capital on the repurchase of issued shares. \u2013 Retained earnings represents cumulative results for the Group. 2.14 Share repurchases Shares purchased for cancellation are deducted from retained earnings. Share capital is reduced and credited to the capital redemption reserve once shares are cancelled. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-329": { "value": "2.15 Leases IFRS 16 \u2013 Leases establishes principles for the recognition, measurement, presentation and disclosure of leases, with the objective of ensuring that lessees and lessors provide relevant information that faithfully represents those transactions. Identifying a lease At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the Group has both the right to direct the identified asset\u2019s use and to obtain substantially all the economic benefits from that use. At inception or on reassessment of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. However, for plant and equipment leases in which it is a lessee, the Group has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component. For each lease or lease component, the Group follows the lease accounting model as per IFRS 16 \u2013 Leases, unless the recognition exceptions can be used. Recognition exceptions The Group has elected to account for lease payments as an expense on a straight-line basis over the lease term or another systematic basis for the following two types of leases: (i) leases with a lease term of 12 months or less and containing no purchase options \u2013 this election is made by class of underlying asset; and (ii) leases where the underlying asset has a low value when new \u2013 this election can be made on a lease-by-lease basis, for leases where the Group has taken short-term lease recognition exemption and there are any changes to the lease term or the lease is modified, the Group accounts for the lease as a new lease. Lessee accounting Upon lease commencement the Group recognises a right-of-use asset and a lease liability. Initial measurement The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred, and includes an estimate of costs to restore the underlying asset or the site on which it is located, when an obligation is considered probable to arise, less any lease incentives received. The lease liability is initially measured at the present value of the lease payments payable over the lease term, discounted at the rate implicit in the lease if that can be readily determined. If that rate cannot be readily determined, the Group uses the incremental borrowing rate. Variable lease payments that depend on an index or a rate are included in the initial measurement of the lease liability and are initially measured using the index or rate as at the commencement date. Amounts expected to be payable by the lessee under residual value guarantees are also included. Variable lease payments that are not included in the measurement of the lease liability are recognised in the income statement in the period in which the event or condition that triggers payment occurs, unless the costs are included in the carrying amount of another asset under another accounting standard. Subsequent measurement After lease commencement, the Group measures right-of-use assets using a cost model. Under the cost model a right-of-use asset is measured at cost less accumulated depreciation and accumulated impairment. Any impairment reversal reduces accumulated impairment previously recognised to the extent that the revised net book value does not exceed the amount that would have been recognised had no impairment occurred previously. An impairment reversal excludes any impact resulting from the passage of time. The lease liability is subsequently remeasured to reflect changes in: \u2013 the lease term (using a revised discount rate) \u2013 the assessment of a purchase option (using a revised discount rate) \u2013 the amounts expected to be payable under residual value guarantees (using an unchanged discount rate) \u2013 future lease payments resulting from a change in an index or a rate used to determine those payments (using an unchanged discount rate) The remeasurements are matched by adjustments to the right-of-use asset. Additionally, direct costs incurred as part of obtaining an additional lease term are added to the right-of-use asset. Depreciation The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of property, plant and equipment. In addition, the right-of-use asset is reduced by impairment losses, if any, and adjusted impairment reversals or for certain remeasurements of the lease liability. Lessor accounting When the Group acts as a lessor, it determines at lease inception whether each lease is a finance or operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all the risks and rewards incidental to ownership of an underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset. The Group recognises operating lease payments as income on a straight-line basis over the lease term as part of \u2018other income\u2019. The Group recognises finance income over the lease term of a finance lease, based on a pattern reflecting a constant periodic rate of return on the net investment.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-330": { "value": "
2.16 Borrowings
Interest bearing bank loans and overdrafts and other loans are recognised in the balance sheet initially at fair
value and subsequently at amortised cost. Finance charges associated with arranging the undrawn revolving
credit facility are recognised in the income statement over the life of the facility. All other borrowing costs are
recognised in the income statement in accordance with the effective interest rate method.
2.18 Financial instruments classification
The Group classifies its financial instruments in the following measurement categories:
\u2013 those to be measured subsequently at fair value through profit or loss (FVTPL); and those to be measured at
amortised cost.
The classification depends on the business model for managing the financial instruments and the contractual
terms of the cash flows.
For assets measured at fair value, gains and losses will either be recorded in profit or loss or other
comprehensive income (FVOCI). For investments in equity instruments that are not held for trading, this will
depend on whether the Group has made an irrevocable election at the time of initial recognition to account for
the equity investment at FVTPL or at FVOCI.
The Group reclassifies debt investments when and only when its business model for managing those assets
changes.
Measurement
At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset
not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to the acquisition
of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss.
Impairment
The Group assesses on a forward looking basis the expected credit losses associated with debt instruments
carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has
been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach
permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from
initial recognition of the receivables.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-390": { "value": "2.16 Borrowings Interest bearing bank loans and overdrafts and other loans are recognised in the balance sheet initially at fair value and subsequently at amortised cost. Finance charges associated with arranging the undrawn revolving credit facility are recognised in the income statement over the life of the facility. All other borrowing costs are recognised in the income statement in accordance with the effective interest rate method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-369": { "value": "2.16 Borrowings Interest bearing bank loans and overdrafts and other loans are recognised in the balance sheet initially at fair value and subsequently at amortised cost. Finance charges associated with arranging the undrawn revolving credit facility are recognised in the income statement over the life of the facility. All other borrowing costs are recognised in the income statement in accordance with the effective interest rate method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-331": { "value": "
2.17 Net debt
Net debt comprises cash and cash equivalents (being cash balances net of overdrafts) and the carrying value of
lease liabilities. The carrying amount of these assets and liabilities approximates to their fair value.
", "dimensions": { "concept": "wickesgroupplc:DescriptionOfAccountingPolicyForNetDebt", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-404": { "value": "2.18 Financial instruments classification The Group classifies its financial instruments in the following measurement categories: \u2013 those to be measured subsequently at fair value through profit or loss (FVTPL); and those to be measured at amortised cost. The classification depends on the business model for managing the financial instruments and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income (FVOCI). For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at FVTPL or at FVOCI. The Group reclassifies debt investments when and only when its business model for managing those assets changes. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Impairment The Group assesses on a forward looking basis the expected credit losses associated with debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-392": { "value": "2.18 Financial instruments classification The Group classifies its financial instruments in the following measurement categories: \u2013 those to be measured subsequently at fair value through profit or loss (FVTPL); and those to be measured at amortised cost. The classification depends on the business model for managing the financial instruments and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income (FVOCI). For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at FVTPL or at FVOCI. The Group reclassifies debt investments when and only when its business model for managing those assets changes. Measurement At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Impairment The Group assesses on a forward looking basis the expected credit losses associated with debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-332": { "value": "
2.19 Impairment
Impairment of tangible and intangible assets
The carrying amounts of the Group\u2019s tangible and intangible assets with a definite useful life are reviewed at
each balance sheet date to determine whether there is any indication of impairment to their value. If such an
indication exists, the asset\u2019s recoverable amount is estimated and compared to its carrying value. Where the
asset does not generate cash flows that are independent from other assets, the Group estimates the
recoverable amount of the cash-generating unit (CGU) to which the asset belongs. The Group has determined
that each store is a separate CGU. The recoverable amount of an asset is the greater of its fair value less
disposal cost and its value-in-use (the present value of the future cash flows that the asset is expected to
generate). In determining value in use the present value of future cash flows is discounted using a pre-tax
discount rate that reflects current market assessments of the time value of money in relation to the period of
the investment and the risks specific to the asset concerned. The carrying value of CGUs includes right-of-use
assets.
Where the carrying value exceeds the recoverable amount a provision for the impairment loss is established
with a charge being made to the income statement. When the reasons for a write down no longer exist the write
down is reversed in the income statement up to the net book value that the relevant asset would have had if it
had not been written down and if it had been depreciated. An impairment reversal excludes any impact resulting
from the passage of time.
For intangible assets that have an indefinite useful life the recoverable amount is estimated at each annual
balance sheet date.
Measuring recoverable amounts
The Group tests goodwill for impairment annually or more frequently if there are indications that an impairment
may have occurred. The recoverable amount of the goodwill is determined from value in use calculations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-391": { "value": "2.19 Impairment Impairment of tangible and intangible assets The carrying amounts of the Group\u2019s tangible and intangible assets with a definite useful life are reviewed at each balance sheet date to determine whether there is any indication of impairment to their value. If such an indication exists, the asset\u2019s recoverable amount is estimated and compared to its carrying value. Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit (CGU) to which the asset belongs. The Group has determined that each store is a separate CGU. The recoverable amount of an asset is the greater of its fair value less disposal cost and its value-in-use (the present value of the future cash flows that the asset is expected to generate). In determining value in use the present value of future cash flows is discounted using a pre-tax discount rate that reflects current market assessments of the time value of money in relation to the period of the investment and the risks specific to the asset concerned. The carrying value of CGUs includes right-of-use assets. Where the carrying value exceeds the recoverable amount a provision for the impairment loss is established with a charge being made to the income statement. When the reasons for a write down no longer exist the write down is reversed in the income statement up to the net book value that the relevant asset would have had if it had not been written down and if it had been depreciated. An impairment reversal excludes any impact resulting from the passage of time. For intangible assets that have an indefinite useful life the recoverable amount is estimated at each annual balance sheet date. Measuring recoverable amounts The Group tests goodwill for impairment annually or more frequently if there are indications that an impairment may have occurred. The recoverable amount of the goodwill is determined from value in use calculations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-370": { "value": "2.19 Impairment Impairment of tangible and intangible assets The carrying amounts of the Group\u2019s tangible and intangible assets with a definite useful life are reviewed at each balance sheet date to determine whether there is any indication of impairment to their value. If such an indication exists, the asset\u2019s recoverable amount is estimated and compared to its carrying value. Where the asset does not generate cash flows that are independent from other assets, the Group estimates the recoverable amount of the cash-generating unit (CGU) to which the asset belongs. The Group has determined that each store is a separate CGU. The recoverable amount of an asset is the greater of its fair value less disposal cost and its value-in-use (the present value of the future cash flows that the asset is expected to generate). In determining value in use the present value of future cash flows is discounted using a pre-tax discount rate that reflects current market assessments of the time value of money in relation to the period of the investment and the risks specific to the asset concerned. The carrying value of CGUs includes right-of-use assets. Where the carrying value exceeds the recoverable amount a provision for the impairment loss is established with a charge being made to the income statement. When the reasons for a write down no longer exist the write down is reversed in the income statement up to the net book value that the relevant asset would have had if it had not been written down and if it had been depreciated. An impairment reversal excludes any impact resulting from the passage of time. For intangible assets that have an indefinite useful life the recoverable amount is estimated at each annual balance sheet date. Measuring recoverable amounts The Group tests goodwill for impairment annually or more frequently if there are indications that an impairment may have occurred. The recoverable amount of the goodwill is determined from value in use calculations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-333": { "value": "
2.20 Share-based payments
The Group issues equity-settled share-based payments to directors and certain employees. Equity-settled
share-based payments are measured at fair value (excluding the effect of non market-based vesting conditions)
at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is
expensed on a straight-line basis over the vesting period, having been adjusted to reflect an estimate of shares
that will eventually vest and for the effect of non market-based vesting conditions.
Fair value is measured by use of the Black-Scholes pricing model which is considered by management to be the
most appropriate method of valuation. The expected life used in the model has been adjusted, based on
management\u2019s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural
considerations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-334": { "value": "2.21 Post balance sheet events These accounts reflect events only up to the date on which the relevant underlying consolidated financial statements were approved.
31 Events after the reporting period
Following the successful completion of the 2025 share buyback programme under which the Group purchased
and cancelled \u00a320m of its shares, the Group has approved a new \u00a310m share buyback programme for 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-335": { "value": "
3 Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statements requires the Directors to make judgements, estimates and assumptions
concerning the future that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expenses. These judgements are based on historical experience and management\u2019s best
knowledge at the time and the actual results may ultimately differ from those estimates. Estimates and
underlying assumptions are reviewed on an ongoing basis and revisions are recognised in the period in which
the estimates are revised and in any future periods affected. The estimates and assumptions that have a
significant risk of causing a material adjustment to the carrying value of assets and liabilities are explained
below.
Impairment or impairment reversal of store assets (significant estimate)
Determining whether store assets (right of use assets relating primarily to the lease of each individual store, and
any associated property, plant and equipment) are impaired, or indicate an impairment reversal, requires an
estimation of the value in use of the cash-generating units to which such fixed assets have been allocated.
Additionally, judgement is required in determining the population of stores that have an indicator of impairment.
The value in use calculation requires estimation of future cash flows expected to arise from the cash-generating
unit (CGU) discounted at a suitable discount rate in order to calclulate the present value. The significant
estimates relate to the discount rate used, the store revenue and gross margin over the five-year plan period,
and the percentage of central costs allocated. Details of CGUs as well as further information about the
assumptions made are disclosed in note 15.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-371": { "value": "3 Critical accounting judgements and key sources of estimation uncertainty The preparation of financial statements requires the Directors to make judgements, estimates and assumptions concerning the future that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. These judgements are based on historical experience and management\u2019s best knowledge at the time and the actual results may ultimately differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis and revisions are recognised in the period in which the estimates are revised and in any future periods affected. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities are explained below. Impairment or impairment reversal of store assets (significant estimate) Determining whether store assets (right of use assets relating primarily to the lease of each individual store, and any associated property, plant and equipment) are impaired, or indicate an impairment reversal, requires an estimation of the value in use of the cash-generating units to which such fixed assets have been allocated. Additionally, judgement is required in determining the population of stores that have an indicator of impairment. The value in use calculation requires estimation of future cash flows expected to arise from the cash-generating unit (CGU) discounted at a suitable discount rate in order to calclulate the present value. The significant estimates relate to the discount rate used, the store revenue and gross margin over the five-year plan period, and the percentage of central costs allocated. Details of CGUs as well as further information about the assumptions made are disclosed in note 15.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-336": { "value": "
4 Auditor\u2019s remuneration
During the period the Group incurred the following costs for services provided by the Company\u2019s auditors:
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3\u2019000) 2025 2024
Fees payable to the Company\u2019s auditor for audit services:
Audit of the Company\u2019s annual accounts
100
100
Audit of the Company\u2019s subsidiaries
740
780
Fees paid to the Company\u2019s auditor for other services:
Review of the interim statement
85
80
925
960
A description of how the Audit & Risk Committee ensures that auditor objectivity and independence is
safeguarded when the auditor provides non-audit services is set out in the report on page 97.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-372": { "value": "4 Auditor\u2019s remuneration During the period the Group incurred the following costs for services provided by the Company\u2019s auditors:
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3\u2019000) 2025 2024
Fees payable to the Company\u2019s auditor for audit services:
Audit of the Company\u2019s annual accounts
100
100
Audit of the Company\u2019s subsidiaries
740
780
Fees paid to the Company\u2019s auditor for other services:
Review of the interim statement
85
80
925
960
A description of how the Audit & Risk Committee ensures that auditor objectivity and independence is safeguarded when the auditor provides non-audit services is set out in the report on page 97. 6 Operating profit Operating profit is stated after charging/(crediting):
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Realised net foreign exchange losses/(gains) recognised in cost of sales
1.2
(1.6)
Derivative fair value losses/(gains)
2.1
(1.5)
Depreciation of property, plant and equipment (note 13)
22.1
22.3
Depreciation of right-of-use assets (note 14)
76.6
76.7
Amortisation of internally-generated intangible assets (note 12)
6.0
6.6
Impairment of other intangible assets (note 12)
0.3
\u2013
Impairment of right of use assets (note 14 and 15)
1.7
12.3
Reversal of impairment of right-of-use assets (note 14 and 15)
\u2013
(1.3)
Impairment of property, plant and equipment (note 13 and 15)
0.2
5.8
Gains on termination of leases (note 14 and 23)
(0.2)
\u2013
Losses on disposal of property, plant and equipment
0.5
0.3
Income from subleasing right-of-use assets (note 14)
(2.8)
(2.4)
Staff costs (note 8)
258.5
230.4
Concession income
(0.8)
(1.1)
Waste recycling initiatives
(0.9)
(0.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-337": { "value": "
5 Revenue
The Group has one operating segment in accordance with IFRS 8 \u2013 Operating Segments, which is the retail of
home improvement products and services, both in stores and online.
The Chief Operating Decision Maker is the Executive Board of Directors. Internal management reports are
reviewed by them on a regular basis. Performance of the segment is assessed based on a number of financial
and non-financial KPIs as well as on profit before taxation.
The Group identifies two distinct revenue streams within its operating segment which are analysed below.
Both revenue streams operate entirely in the United Kingdom. The Group\u2019s revenue is driven by a large number
of individual small value transactions and as a result, Group revenue is not reliant on a major customer or group
of customers.
52 weeks ended 52 weeks ended
Revenue 27 December 28 December
(\u00a3m) 2025 2024
Retail
1,208.9
1,135.2
Design & Installation Ranges
427.3
409.3
1,636.2
1,544.5
Re-presentation of delivery income in comparative figures
The Directors have reviewed their presentation of revenue arising from delivery charges and have now disclosed
delivery income within Revenue, which was previously recognised net within Cost of Sales. For the 52 weeks
ended 28 December 2024, \u00a35.7m has been re-presented from Cost of Sales to Revenue, of which \u00a35.4m has
been allocated to Retail and \u00a30.3m to Design & Installation Ranges.
The revenue reconciliation and like-for-like sales disclosed below have also been re-presented. This has resulted
in the \u2018decrease arising on a like-for-like basis\u2019 reducing from \u00a331.3m (2.0%) to \u00a331.0m (2.0%) for the 52 weeks
ended 28 December 2024.
There are no impacts to any profit measures, balance sheet or cash flows for any of the periods reported as a
result of the representation.
Re-presentation of revenue streams in comparative figures
In the 52 week period ended 28 December 2024, sales of Wickes Lifestyle Kitchens which included a design
element were classified as Design & Installation revenue, whereas self-serve purchases of the Wickes Lifestyle
Kitchen range were classified as Retail revenue. From the start of FY2025, the Group has changed the
presentation of the two revenue streams currently within its operating segment from \u2018Retail\u2019 and \u2018Design &
Installation\u2019, to \u2018Retail\u2019 and \u2018Design & Installation Ranges\u2019 respectively.
For the 52 weeks ended 28 December 2024, \u00a382.5m of revenue has been re-allocated from Retail to Design &
Installation Ranges. This aligns the presentation with how revenue streams are monitored internally, bringing all
kitchen and bathroom sales into one reported revenue category, Design & Installation Ranges. Solar sales
continue to be included in Design & Installation Ranges.
There is no impact on any of the profit measures, balance sheet or cash flow statement for any of the periods
reported.
52 weeks ended 52 weeks ended
Revenue reconciliation and like-for-like revenue 27 December 28 December
(\u00a3m) 2025 2024
Revenue
1,636.2
1,544.5
Network change
(20.2)
(21.4)
Revenue generated by acquired business (Gas Fast Limited)
(5.4)
(10.0)
Revenue (like-for-like basis)
1,610.6
1,513.1
Prior period revenue
1,544.5
1,559.2
Prior period network change
(8.6)
(15.1)
Prior period revenue generated by acquired business (Gas Fast Limited)
(0.4)
\u2013
Prior period revenue (like-for-like basis)
1,535.5
1,544.1
Increase/(decrease) arising on a like-for-like basis
75.1
(31.0)
Like-for-like revenue (%)
4.9%
(2.0)%
Calculating like-for-like revenue enables management to monitor the performance trend of the business
period-on-period. It also provides management with a good indication of the health of the business compared
to competitors.
Like-for-like revenue is a measure of sales performance for two successive periods. Stores contribute to
like-for-like revenue once they have been trading for more than 12 months, or for acquisitions once the results
have been fully consolidated for 12 months. Revenue included in like-for-like revenue is for the equivalent times
in both periods being compared. When stores close, revenue is excluded from the prior period figures for the
months equivalent to the post closure period in the current period. These movements are explained by the
Network change amounts. The Network change number varies year on year as it represents a different number
of stores.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-373": { "value": "5 Revenue The Group has one operating segment in accordance with IFRS 8 \u2013 Operating Segments, which is the retail of home improvement products and services, both in stores and online. The Chief Operating Decision Maker is the Executive Board of Directors. Internal management reports are reviewed by them on a regular basis. Performance of the segment is assessed based on a number of financial and non-financial KPIs as well as on profit before taxation. The Group identifies two distinct revenue streams within its operating segment which are analysed below. Both revenue streams operate entirely in the United Kingdom. The Group\u2019s revenue is driven by a large number of individual small value transactions and as a result, Group revenue is not reliant on a major customer or group of customers.
52 weeks ended 52 weeks ended
Revenue 27 December 28 December
(\u00a3m) 2025 2024
Retail
1,208.9
1,135.2
Design & Installation Ranges
427.3
409.3
1,636.2
1,544.5
Re-presentation of delivery income in comparative figures The Directors have reviewed their presentation of revenue arising from delivery charges and have now disclosed delivery income within Revenue, which was previously recognised net within Cost of Sales. For the 52 weeks ended 28 December 2024, \u00a35.7m has been re-presented from Cost of Sales to Revenue, of which \u00a35.4m has been allocated to Retail and \u00a30.3m to Design & Installation Ranges. The revenue reconciliation and like-for-like sales disclosed below have also been re-presented. This has resulted in the \u2018decrease arising on a like-for-like basis\u2019 reducing from \u00a331.3m (2.0%) to \u00a331.0m (2.0%) for the 52 weeks ended 28 December 2024. There are no impacts to any profit measures, balance sheet or cash flows for any of the periods reported as a result of the representation. Re-presentation of revenue streams in comparative figures In the 52 week period ended 28 December 2024, sales of Wickes Lifestyle Kitchens which included a design element were classified as Design & Installation revenue, whereas self-serve purchases of the Wickes Lifestyle Kitchen range were classified as Retail revenue. From the start of FY2025, the Group has changed the presentation of the two revenue streams currently within its operating segment from \u2018Retail\u2019 and \u2018Design & Installation\u2019, to \u2018Retail\u2019 and \u2018Design & Installation Ranges\u2019 respectively. For the 52 weeks ended 28 December 2024, \u00a382.5m of revenue has been re-allocated from Retail to Design & Installation Ranges. This aligns the presentation with how revenue streams are monitored internally, bringing all kitchen and bathroom sales into one reported revenue category, Design & Installation Ranges. Solar sales continue to be included in Design & Installation Ranges. There is no impact on any of the profit measures, balance sheet or cash flow statement for any of the periods reported.
52 weeks ended 52 weeks ended
Revenue reconciliation and like-for-like revenue 27 December 28 December
(\u00a3m) 2025 2024
Revenue
1,636.2
1,544.5
Network change
(20.2)
(21.4)
Revenue generated by acquired business (Gas Fast Limited)
(5.4)
(10.0)
Revenue (like-for-like basis)
1,610.6
1,513.1
Prior period revenue
1,544.5
1,559.2
Prior period network change
(8.6)
(15.1)
Prior period revenue generated by acquired business (Gas Fast Limited)
(0.4)
\u2013
Prior period revenue (like-for-like basis)
1,535.5
1,544.1
Increase/(decrease) arising on a like-for-like basis
75.1
(31.0)
Like-for-like revenue (%)
4.9%
(2.0)%
Calculating like-for-like revenue enables management to monitor the performance trend of the business period-on-period. It also provides management with a good indication of the health of the business compared to competitors. Like-for-like revenue is a measure of sales performance for two successive periods. Stores contribute to like-for-like revenue once they have been trading for more than 12 months, or for acquisitions once the results have been fully consolidated for 12 months. Revenue included in like-for-like revenue is for the equivalent times in both periods being compared. When stores close, revenue is excluded from the prior period figures for the months equivalent to the post closure period in the current period. These movements are explained by the Network change amounts. The Network change number varies year on year as it represents a different number of stores.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-338": { "value": "
6 Operating profit
Operating profit is stated after charging/(crediting):
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Realised net foreign exchange losses/(gains) recognised in cost of sales
1.2
(1.6)
Derivative fair value losses/(gains)
2.1
(1.5)
Depreciation of property, plant and equipment (note 13)
22.1
22.3
Depreciation of right-of-use assets (note 14)
76.6
76.7
Amortisation of internally-generated intangible assets (note 12)
6.0
6.6
Impairment of other intangible assets (note 12)
0.3
\u2013
Impairment of right of use assets (note 14 and 15)
1.7
12.3
Reversal of impairment of right-of-use assets (note 14 and 15)
\u2013
(1.3)
Impairment of property, plant and equipment (note 13 and 15)
0.2
5.8
Gains on termination of leases (note 14 and 23)
(0.2)
\u2013
Losses on disposal of property, plant and equipment
0.5
0.3
Income from subleasing right-of-use assets (note 14)
(2.8)
(2.4)
Staff costs (note 8)
258.5
230.4
Concession income
(0.8)
(1.1)
Waste recycling initiatives
(0.9)
(0.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-393": { "value": "6 Operating profit Operating profit is stated after charging/(crediting):
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Realised net foreign exchange losses/(gains) recognised in cost of sales
1.2
(1.6)
Derivative fair value losses/(gains)
2.1
(1.5)
Depreciation of property, plant and equipment (note 13)
22.1
22.3
Depreciation of right-of-use assets (note 14)
76.6
76.7
Amortisation of internally-generated intangible assets (note 12)
6.0
6.6
Impairment of other intangible assets (note 12)
0.3
\u2013
Impairment of right of use assets (note 14 and 15)
1.7
12.3
Reversal of impairment of right-of-use assets (note 14 and 15)
\u2013
(1.3)
Impairment of property, plant and equipment (note 13 and 15)
0.2
5.8
Gains on termination of leases (note 14 and 23)
(0.2)
\u2013
Losses on disposal of property, plant and equipment
0.5
0.3
Income from subleasing right-of-use assets (note 14)
(2.8)
(2.4)
Staff costs (note 8)
258.5
230.4
Concession income
(0.8)
(1.1)
Waste recycling initiatives
(0.9)
(0.6)
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-405": { "value": "
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Realised net foreign exchange losses/(gains) recognised in cost of sales
1.2
(1.6)
Derivative fair value losses/(gains)
2.1
(1.5)
Depreciation of property, plant and equipment (note 13)
22.1
22.3
Depreciation of right-of-use assets (note 14)
76.6
76.7
Amortisation of internally-generated intangible assets (note 12)
6.0
6.6
Impairment of other intangible assets (note 12)
0.3
\u2013
Impairment of right of use assets (note 14 and 15)
1.7
12.3
Reversal of impairment of right-of-use assets (note 14 and 15)
\u2013
(1.3)
Impairment of property, plant and equipment (note 13 and 15)
0.2
5.8
Gains on termination of leases (note 14 and 23)
(0.2)
\u2013
Losses on disposal of property, plant and equipment
0.5
0.3
Income from subleasing right-of-use assets (note 14)
(2.8)
(2.4)
Staff costs (note 8)
258.5
230.4
Concession income
(0.8)
(1.1)
Waste recycling initiatives
(0.9)
(0.6)
13 Property, plant and equipment
Land and Leasehold Plant and
(\u00a3m) buildings improvements
equipment
Total
Cost
At 30 December 2023
6.1
147.6
195.6
349.3
Additions
\u2013
13.4
11.2
24.6
Disposals
(6.1)
(3.0)
(7.9)
(17.0)
Impairments
\u2013
(5.8)
\u2013
(5.8)
At 28 December 2024
\u2013
152.2
198.9
351.1
Additions
\u2013
17.0
9.3
26.3
Disposals
\u2013
(3.1)
(3.9)
(7.0)
Reclassification of historical impairments
\u2013
6.4
\u2013
6.4
At 27 December 2025
\u2013
172.5
204.3
376.8
Accumulated depreciation
At 30 December 2023
0.2
69.2
156.7
226.1
Charged in the period
0.1
12.6
9.6
22.3
Disposals
(0.3)
(2.6)
(7.7)
(10.6)
At 28 December 2024
\u2013
79.2
158.6
237.8
Charged in the period
\u2013
12.1
10.0
22.1
Disposals
\u2013
(2.9)
(3.4)
(6.3)
Reclassification of historical impairments
\u2013
6.4
\u2013
6.4
Impairment
\u2013
0.2
\u2013
0.2
At 27 December 2025
\u2013
95.0
165.2
260.2
Net book value
At 27 December 2025
\u2013
77.5
39.1
116.6
At 28 December 2024
\u2013
73.0
40.3
113.3
Historical impairments of property, plant and equipment have been reclassified from cost to accumulated depreciation. The comparatives have not been restated as, in the Directors view, the impact was not material. The impairment assessment during the period resulted in a \u00a30.2m impairment charge being recognised (52 weeks ended 28 December 2024: \u00a35.8m charge). Details of impairment testing are provided in note 15. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-339": { "value": "
7 Net finance costs
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Finance income
Interest receivable
7.2
7.3
Fair value adjustment to call option
3.0
\u2013
10.2
7.3
Finance costs
Interest on lease liabilities (note 14)
(31.1)
(30.1)
Amortisation of loan arrangement fees
(0.2)
(0.3)
Commitment fee on revolving credit facility (RCF)
(0.6)
(0.7)
Revolving credit facility (RCF) amendment costs
\u2013
(0.3)
Other interest
(0.2)
\u2013
(32.1)
(31.4)
Net finance costs
(21.9)
(24.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-414": { "value": "7 Net finance costs
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Finance income
Interest receivable
7.2
7.3
Fair value adjustment to call option
3.0
\u2013
10.2
7.3
Finance costs
Interest on lease liabilities (note 14)
(31.1)
(30.1)
Amortisation of loan arrangement fees
(0.2)
(0.3)
Commitment fee on revolving credit facility (RCF)
(0.6)
(0.7)
Revolving credit facility (RCF) amendment costs
\u2013
(0.3)
Other interest
(0.2)
\u2013
(32.1)
(31.4)
Net finance costs
(21.9)
(24.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-412": { "value": "7 Net finance costs
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Finance income
Interest receivable
7.2
7.3
Fair value adjustment to call option
3.0
\u2013
10.2
7.3
Finance costs
Interest on lease liabilities (note 14)
(31.1)
(30.1)
Amortisation of loan arrangement fees
(0.2)
(0.3)
Commitment fee on revolving credit facility (RCF)
(0.6)
(0.7)
Revolving credit facility (RCF) amendment costs
\u2013
(0.3)
Other interest
(0.2)
\u2013
(32.1)
(31.4)
Net finance costs
(21.9)
(24.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-406": { "value": "7 Net finance costs
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Finance income
Interest receivable
7.2
7.3
Fair value adjustment to call option
3.0
\u2013
10.2
7.3
Finance costs
Interest on lease liabilities (note 14)
(31.1)
(30.1)
Amortisation of loan arrangement fees
(0.2)
(0.3)
Commitment fee on revolving credit facility (RCF)
(0.6)
(0.7)
Revolving credit facility (RCF) amendment costs
\u2013
(0.3)
Other interest
(0.2)
\u2013
(32.1)
(31.4)
Net finance costs
(21.9)
(24.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-394": { "value": "7 Net finance costs
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Finance income
Interest receivable
7.2
7.3
Fair value adjustment to call option
3.0
\u2013
10.2
7.3
Finance costs
Interest on lease liabilities (note 14)
(31.1)
(30.1)
Amortisation of loan arrangement fees
(0.2)
(0.3)
Commitment fee on revolving credit facility (RCF)
(0.6)
(0.7)
Revolving credit facility (RCF) amendment costs
\u2013
(0.3)
Other interest
(0.2)
\u2013
(32.1)
(31.4)
Net finance costs
(21.9)
(24.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-374": { "value": "7 Net finance costs
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Finance income
Interest receivable
7.2
7.3
Fair value adjustment to call option
3.0
\u2013
10.2
7.3
Finance costs
Interest on lease liabilities (note 14)
(31.1)
(30.1)
Amortisation of loan arrangement fees
(0.2)
(0.3)
Commitment fee on revolving credit facility (RCF)
(0.6)
(0.7)
Revolving credit facility (RCF) amendment costs
\u2013
(0.3)
Other interest
(0.2)
\u2013
(32.1)
(31.4)
Net finance costs
(21.9)
(24.1)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-340": { "value": "8 Staff costs Average number of persons employed by the Group (including directors) during the period
52 weeks ended 52 weeks ended
27 December 28 December
(No.) 2025 2024
Administration
609
591
Stores and distribution
7,160
7,18 3
7, 7 6 9
7,774
Average number of full-time equivalent persons employed by the Group during the period
52 weeks ended 52 weeks ended
27 December 28 December
(No.) 2025 2024
6,099
6,114
Aggregate payroll costs of these persons were as follow:
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Wages and salaries
223.7
205.5
Social security costs
23.2
17.1
Other pension costs (defined contribution plans)
5.9
5.4
Share-based payments (equity-settled)
5.6
4.0
258.4
232.0
There are no wages and salaries and social security costs for the 52 weeks ended 27 December 2025 in adjusting items (52 weeks ended 28 December 2024: \u00a33.6m). All qualifying employees are able to contribute to the Wickes Group Pension Plan, a defined contribution pension scheme. A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions. The pension costs represent contributions payable by the Group. The amounts charged to the income statement in respect of pension costs and other post-retirement benefits are the contributions payable in the period. Differences between the contributions payable in the period and those actually paid are shown as either accruals or prepayments in the balance sheet.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-341": { "value": "
9 Reconciliation of alternative profit measures
As described in note 2, adjusted profit measures are an alternative performance measure used by the Board to
monitor the operating performance of the Group. Adjusting items are those items of income and expenditure
that, by reference to the Group, are material in size or unusual in nature or incidence and that in the judgement of
the Directors should be disclosed separately to ensure both that the reader has a proper understanding of the
Group\u2019s financial performance and that there is comparability of financial performance between periods.
Items of income or expense that are considered by the Directors for designation as adjusting items include, but
are not limited to, significant restructurings, incremental costs relating to corporate transactions, significant
write downs or impairments (and reversals) of current and non-current assets, the effect of changes in
corporation tax rates on deferred tax balances, and net unrealised gains and losses on remeasurement of
derivatives held at fair value.
52 weeks ended 27 December 2025
Operating Profit before Profit after
(\u00a3m) Gross profit profit tax tax
Statutory performance measures
603.8
70.6
48.7
37.8
Foreign exchange derivative fair value losses
2.1
2.1
2.1
2.1
Call option derivative fair value gains
\u2013
\u2013
(3.0)
(3.0)
Property, plant and equipment impairment charge
\u2013
0.2
0.2
0.2
Right-of-use asset impairment charge
\u2013
1.7
1.7
1.7
Solar Fast brand impairment charge
\u2013
0.3
0.3
0.3
Restructuring costs
\u2013
(0.1)
(0.1)
(0.1)
Tax on adjusting items
\u2013
\u2013
\u2013
(1.0)
Tax adjustment in respect of prior periods
\u2013
\u2013
\u2013
1.2
Total adjustments to statutory performance measures
2.1
4.2
1.2
1.4
Adjusted performance measures
605.9
74.8
49.9
39.2
52 weeks ended 28 December 2024
Operating Profit before Profit after
(\u00a3m) Gross profit profit tax tax
Statutory performance measures
566.6
47.3
23.2
18.4
Foreign exchange derivative fair value gains
(1.5)
(1.5)
(1.5)
(1.5)
Property, plant and equipment impairment charge
\u2013
5.8
5.8
5.8
Right-of-use asset impairment charge
\u2013
12.3
12.3
12.3
Reversal of impairment of right-of-use asset recognised in prior
periods
\u2013
(1.3)
(1.3)
(1.3)
Restructuring costs
\u2013
4.0
4.0
4.0
Gas Fast Limited acquisition costs
\u2013
0.8
0.8
0.8
Revolving credit facility (RCF) amendment costs
\u2013
\u2013
0.3
0.3
Tax on adjusting items
\u2013
\u2013
\u2013
(4.9)
Total adjustments to statutory performance measures
(1.5)
20.1
20.4
15.5
Adjusted performance measures
565.1
67.4
43.6
33.9
Foreign exchange derivative fair value movements The Group recognises the potential for high levels of foreign exchange rate volatility and looks to mitigate its economic impact on financial performance by hedging planned future foreign currency purchases using foreign currency derivatives. The Group does not take advantage of the hedge accounting rules provided for in IFRS 9 since that standard requires certain stringent criteria to be met to hedge account, which, in the circumstances of the Group, are considered by the Board not to bring any significant economic benefit. As a result, IFRS requires that fair value gains or losses on these derivatives be recognised in the income statement. In order to reflect the economic outcome of the forward contracts (derivatives), the impact of fair value movement on the derivatives has been removed in the underlying results. During the 52 weeks ended 27 December 2025 this adjustment was a net loss of \u00a32.1m in cost of goods sold (52 weeks ended 28 December 2024: gain of \u00a31.5m). Call option fair value movements The Group owns an option to acquire the remaining 49% shareholding of Gas Fast Limited. This derivative is remeasured to its fair value at the end of each reporting period. The value of the option reflects the Group\u2019s estimate of what a market participant would be prepared to offer the Group for the right to purchase that call option. Changes to the fair value of this option may not be reflective of the Group\u2019s trading activity. During the period ended 27 December 2025, a derivative asset of \u00a33.0m was recognised (52 weeks ended 28 December 2024: \u00a3nil) and reflected within finance income on the income statement Right-of-use asset and property, plant and equipment impairment charges In the period ended 27 December 2025, 4 stores were identified as impaired with a resulting impairment charge of \u00a31.9m, recognised as \u00a31.7m to right-of-use assets and \u00a30.2m to property plant and equipment. Impairment charges are discussed in further detail in note 15 and, specifically, those factors influencing the impairment charge are detailed on page 143. In the period ended 28 December 2024, 27 stores were identified as impaired with a resulting impairment charge of \u00a318.1m, \u00a312.3m to right-of-use assets and \u00a35.8m to property, plant and equipment. Furthermore, 1 store was identified as having an impairment reversal of \u00a31.3m all to right of use assets. Solar Fast brand impairment In the period ended 27 December 2025, the Group has fully impaired the intangible asset related to the \u2018Solar Fast\u2019 brand (\u00a30.3m) following the decision to re-brand all marketing material related to PV panels to Wickes Solar. Restructuring costs In the 52 week period ended 27 December 2025, there was a \u00a30.1m release of a provision that was recognised in relation to restructuring programmes originally recognised in the period ended 28 December 2024. Tax adjustment in respect of prior periods During the current period, the Group identified that a historical \u00a31.2m deferred tax liability with respect to goodwill on the acquisition of Focus DIY stores acquired in 2007 and 2011 had not been recognised by the Group at the time the Group listed publicly in 2021. In recognising the deferred tax liability, a prior year deferred tax charge of \u00a31.2m has been recorded in the current period. There is no impact on tax paid or to be paid, whilst the tax charge is not reflective of trading activity in the period, is not a revision to a previously estimated tax position and is considered to be one-off in nature.", "dimensions": { "concept": "wickesgroupplc:DisclosureOfAlternativeProfitMeasures", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-342": { "value": "10 Taxation
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Current tax
UK corporation tax expense
12.2
12.3
UK corporation tax adjustments in respect of prior periods
(4.7)
(2.2)
Total current tax charge
7.5
10.1
Deferred tax
Deferred tax movement in period
(3.5)
(5.7)
Effect of change in tax rate
\u2013
(0.1)
Adjustments in respect of prior periods
6.9
0.5
Total deferred tax charge
3.4
(5.3)
Total tax charge
10.9
4.8
The differences between the total tax charge and the amount calculated by applying the standard rate of UK corporation tax of 25% (52 weeks ended 28 December 2024: 25.0%) to the profit before tax for the Group are as follows:
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Profit before taxation
48.7
23.2
Tax at the standard corporation tax rate
12.2
5.9
Effects of:
Depreciation of non-qualifying property
0.4
0.4
Tax effect of non-taxable income / non-deductible expenses
(1.0)
\u2013
Adjustments to prior period
2.1
(1.7)
Effect of share based payments
\u2013
0.2
Impact of uncertain tax positions
(2.8)
\u2013
Total tax charge
10.9
4.8
The effective tax rate for the period is 22.4% (52 weeks ended 28 December 2024: 20.3%). The effective tax rate was lower than the standard rate primarily due to the impact of non-taxable income and revisions to historical capital allowances, the latter being presented in uncertain tax positions, partially offset by adjustments related to the prior period. This adjustment and its tax effect do not provide a guide to the Group\u2019s future tax charge. The Group is within the scope of the OECD Pillar Two model rules and the UK\u2019s domestic implementation of the Global Minimum Tax, which applies for accounting periods beginning on or after 31 December 2023. The Group operates exclusively in the United Kingdom and is therefore subject only to UK taxation. Based on the assessment performed for the period, the Group\u2019s effective tax rate for Pillar Two purposes exceeds the minimum rate of 15%. Accordingly, no UK top-up tax has arisen for the period. As at the reporting date, the Group has not recognised any current or deferred tax assets or liabilities in respect of Pillar Two taxes.
16 Deferred tax
The following are the major deferred tax assets and (liabilities) recognised by the Group and movements
thereon during the current and prior reporting periods.
Capital Share-based
Tax losses
Provisions
Allowance
payments
Leases
Total
At 30 December 2023
\u2013
1.5
(10.2)
2.5
29.2
23.0
(Charge)/credit to the Income
statement
(1.8)
0.2
0.8
0.1
6.4
5.7
Credit to equity
\u2013
\u2013
\u2013
1.5
\u2013
1.5
Prior period adjustment
1.7
(0.7)
1.7
(1.7)
(1.5)
(0.5)
Change in tax rates
0.1
\u2013
0.1
(0.1)
\u2013
0.1
At 28 December 2024
\u2013
1.0
(7.6)
2.3
34.1
29.8
Credit/(charge) to the Income
statement
0.3
0.3
3.4
0.5
(1.0)
3.5
Charge to equity
\u2013
\u2013
\u2013
(0.3)
\u2013
(0.3)
Prior period adjustment
\u2013
\u2013
(3.6)
0.2
(3.5)
(6.9)
At 27 December 2025
0.3
1.3
(7.8)
2.7
29.6
26.1
Disclosed within non-current assets
0.3
1.3
(7.8)
2.7
29.6
26.1
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the
asset is realised or the liability settled, based on tax rates that have been enacted, or substantively enacted, at
the balance sheet date. The Group has separately calculated the tax rates applicable in respect of Adjusting
items for the period as well as the tax rate change as a result of the increase in the rate of UK corporation tax
effective from 1 April 2023 from 19% to 25%. The legislation enacting this rate increase was substantively
enacted on 24 May 2021.
As at 27 December 2025, the \u00a329.6m deferred tax asset relating to leases comprises a \u00a3173.6m (28 December
2024: \u00a3172.3m) deferred tax asset for lease liabilities and a \u00a3144.0m (28 December 2024: \u00a3138.2m) deferred tax
liability for right of use assets. For the 52 weeks ended 27 December 2025, a \u00a35.9m charge to the income
statement was recognised with respect to right-of-use assets (28 December 2024: \u00a33.9m), partially offset by a
\u00a34.9m credit with respect to lease liabilities (28 December 2024: \u00a310.3m).
At 27 December 2025, the Group had unused capital losses of \u00a337.6m (28 December 2024: \u00a337.6m) available
for offset against future capital profits. No deferred tax asset has been recognised because it is unlikely that
future taxable capital gains will be available against which the Group can utilise the losses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-343": { "value": "11 Earnings per share Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the 52 week period ended 27 December 2025.
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Profit attributable to the owners of the Parent
38.5
18.1
(No.)
Weighted average number of ordinary shares
238,367,214
245,621,601
Adjustment for weighted average number of ordinary shares held in EBT
(9,100,822)
(4,861,137)
Weighted average number of ordinary shares in issue
229,266,392
240,760,464
Basic earnings per share (in pence per share)
16.8p
7.7p
For diluted earnings per share, the weighted average number of ordinary shares in issue is adjusted to include all dilutive potential ordinary shares arising from share options.
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Profit attributable to the owners of the Parent
38.5
18.1
(No.)
Weighted average number of ordinary shares in issue
229,266,392
240,760,464
Diluted effect of share options on potential ordinary shares
5,502,259
3,714,321
Diluted weighted average number of ordinary shares in issue
234,768,651
244,474,785
Diluted earnings per share (in pence per share)
16.4p
7.5p
The Directors believe that EPS excluding Adjusting items (Adjusted EPS) reflects the underlying performance of the business and assists in providing the reader with a consistent view of the trading performance of the Group. Reconciliation of profit after taxation to profit after taxation excluding Adjusting items (Adjusted profit):
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Profit attributable to the owners of the parent from continuing operations
38.5
18.1
Adjusting items before tax
1.2
20.4
Tax on adjusting items
(1.0)
(4.9)
Tax prior year adjustment
1.2
\u2013
Adjusting items after tax (note 9)
1.4
15.5
Adjusted profit attributable to the owners of the parent
39.9
33.6
Weighted average number of ordinary shares in issue
229,266,392
240,760,464
Weighted average number of dilutive ordinary shares in issue
234,768,651
244,474,785
Adjusted basic earnings per share (in pence per share)
17.4p
14.1p
Adjusted diluted earnings per share (in pence per share)
17.0p
13.9p
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-344": { "value": "
12 Goodwill and other intangible assets
Other intangible
(\u00a3m)
Goodwill
assets
Total
Cost or valuation
At 30 December 2023
8.4
41.3
49.7
Additions
4.2
2.3
6.5
At 28 December 2024
12.6
43.6
56.2
Additions
\u2013
2.4
2.4
At 27 December 2025
12.6
46.0
58.6
Amortisation
At 30 December 2023
\u2013
27.0
27.0
Charged in the period
\u2013
6.6
6.6
At 28 December 2024
\u2013
33.6
33.6
Charged in the period
\u2013
6.0
6.0
Impairment
\u2013
0.3
0.3
At 27 December 2025
\u2013
39.9
39.9
Net book value
At 27 December 2025
12.6
6.1
18.7
At 28 December 2024
12.6
10.0
22.6
The goodwill held by the Group arose on the acquisition of Focus DIY stores in 2007 & 2011, and the acquisition
of a 51% holding in Gas Fast Limited. The carrying value related to the acquisition of Focus DIY stores is \u00a38.4m
(28 December 2024: \u00a38.4m) and is tested against stores. For the Gas Fast Limited acquisition \u00a34.2m of goodwill
was recognised (28 December 2024: \u00a34.2m) and tested against the performance of the Wickes Solar business.
For the purpose of impairment tests of goodwill, the goodwill are shown in note 15. Details of the \u00a30.3m
impairment to other intangible assets is shown in note 9.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-395": { "value": "12 Goodwill and other intangible assets
Other intangible
(\u00a3m)
Goodwill
assets
Total
Cost or valuation
At 30 December 2023
8.4
41.3
49.7
Additions
4.2
2.3
6.5
At 28 December 2024
12.6
43.6
56.2
Additions
\u2013
2.4
2.4
At 27 December 2025
12.6
46.0
58.6
Amortisation
At 30 December 2023
\u2013
27.0
27.0
Charged in the period
\u2013
6.6
6.6
At 28 December 2024
\u2013
33.6
33.6
Charged in the period
\u2013
6.0
6.0
Impairment
\u2013
0.3
0.3
At 27 December 2025
\u2013
39.9
39.9
Net book value
At 27 December 2025
12.6
6.1
18.7
At 28 December 2024
12.6
10.0
22.6
The goodwill held by the Group arose on the acquisition of Focus DIY stores in 2007 & 2011, and the acquisition of a 51% holding in Gas Fast Limited. The carrying value related to the acquisition of Focus DIY stores is \u00a38.4m (28 December 2024: \u00a38.4m) and is tested against stores. For the Gas Fast Limited acquisition \u00a34.2m of goodwill was recognised (28 December 2024: \u00a34.2m) and tested against the performance of the Wickes Solar business. For the purpose of impairment tests of goodwill, the goodwill are shown in note 15. Details of the \u00a30.3m impairment to other intangible assets is shown in note 9. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-375": { "value": "12 Goodwill and other intangible assets
Other intangible
(\u00a3m)
Goodwill
assets
Total
Cost or valuation
At 30 December 2023
8.4
41.3
49.7
Additions
4.2
2.3
6.5
At 28 December 2024
12.6
43.6
56.2
Additions
\u2013
2.4
2.4
At 27 December 2025
12.6
46.0
58.6
Amortisation
At 30 December 2023
\u2013
27.0
27.0
Charged in the period
\u2013
6.6
6.6
At 28 December 2024
\u2013
33.6
33.6
Charged in the period
\u2013
6.0
6.0
Impairment
\u2013
0.3
0.3
At 27 December 2025
\u2013
39.9
39.9
Net book value
At 27 December 2025
12.6
6.1
18.7
At 28 December 2024
12.6
10.0
22.6
The goodwill held by the Group arose on the acquisition of Focus DIY stores in 2007 & 2011, and the acquisition of a 51% holding in Gas Fast Limited. The carrying value related to the acquisition of Focus DIY stores is \u00a38.4m (28 December 2024: \u00a38.4m) and is tested against stores. For the Gas Fast Limited acquisition \u00a34.2m of goodwill was recognised (28 December 2024: \u00a34.2m) and tested against the performance of the Wickes Solar business. For the purpose of impairment tests of goodwill, the goodwill are shown in note 15. Details of the \u00a30.3m impairment to other intangible assets is shown in note 9. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-345": { "value": "
13 Property, plant and equipment
Land and Leasehold Plant and
(\u00a3m) buildings improvements
equipment
Total
Cost
At 30 December 2023
6.1
147.6
195.6
349.3
Additions
\u2013
13.4
11.2
24.6
Disposals
(6.1)
(3.0)
(7.9)
(17.0)
Impairments
\u2013
(5.8)
\u2013
(5.8)
At 28 December 2024
\u2013
152.2
198.9
351.1
Additions
\u2013
17.0
9.3
26.3
Disposals
\u2013
(3.1)
(3.9)
(7.0)
Reclassification of historical impairments
\u2013
6.4
\u2013
6.4
At 27 December 2025
\u2013
172.5
204.3
376.8
Accumulated depreciation
At 30 December 2023
0.2
69.2
156.7
226.1
Charged in the period
0.1
12.6
9.6
22.3
Disposals
(0.3)
(2.6)
(7.7)
(10.6)
At 28 December 2024
\u2013
79.2
158.6
237.8
Charged in the period
\u2013
12.1
10.0
22.1
Disposals
\u2013
(2.9)
(3.4)
(6.3)
Reclassification of historical impairments
\u2013
6.4
\u2013
6.4
Impairment
\u2013
0.2
\u2013
0.2
At 27 December 2025
\u2013
95.0
165.2
260.2
Net book value
At 27 December 2025
\u2013
77.5
39.1
116.6
At 28 December 2024
\u2013
73.0
40.3
113.3
Historical impairments of property, plant and equipment have been reclassified from cost to accumulated
depreciation. The comparatives have not been restated as, in the Directors view, the impact was not material.
The impairment assessment during the period resulted in a \u00a30.2m impairment charge being recognised (52
weeks ended 28 December 2024: \u00a35.8m charge). Details of impairment testing are provided in note 15.
141
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-346": { "value": "
14 Right-of-use assets
The Group leases many assets including land and buildings and vehicles. The weighted average remaining lease
term of all leases is 9.5 years (28 December 2024: 9.6 years). Information about leases for which the Group is a
lessee is presented below.
At 27 December 2025, the Group had no material leases committed to but not yet commenced (28 December
2024: nil). The Group does not enter into turnover rent agreements or have material variable payments. It holds
15 property leases which contain termination options and, given there is not an economic incentive to exercise
the option given the performance of the related stores, the extended period is included within our IFRS 16
calculations. The Group does not have any significant extension options in its lease agreements.
The modifications relate predominantly to increases in lease terms within the store portfolio.
Net carrying value Land and Plant and
(\u00a3m) buildings
equipment
Total
At 30 December 2023
520.7
16.4
5 37.1
Additions
38.1
22.8
60.9
Modifications
53.0
\u2013
53.0
Terminations
\u2013
(0.8)
(0.8)
Depreciation
(67.6)
(9.1)
(76.7)
Impairments
(12.3)
\u2013
(12.3)
Reversal of previous impairments
1.3
\u2013
1.3
At 28 December 2024
533.2
29.3
562.5
Additions
12.3
5.3
17.6
Modifications
76.7
1.6
78.3
Terminations
(0.2)
\u2013
(0.2)
Depreciation
(68.1)
(8.5)
(76.6)
Impairments
(1.7)
\u2013
(1.7)
At 27 December 2025
552.2
27.7
579.9
As at As at
Lease liabilities 27 December 28 December
(\u00a3m) 2025 2024
Maturity analysis \u2013 contractual undiscounted cash flow
Less than one year
115.2
112.3
One to two years
110.2
111.1
Two to five years
278.2
285.4
Five to ten years
255.6
253.7
More than ten years
133.0
105.7
Total undiscounted lease liabilities
892.2
868.2
Lease liabilities included in the balance sheet
Current
84.3
80.4
Non-current
635.5
624.9
719.8
705.3
52 weeks ended 52 weeks ended
Amounts recognised in the income statement 28 December 28 December
(\u00a3m) 2025 2024
Interest expense on lease liabilities
31.1
30.1
Expenses related to short-term leases
\u2013
0.3
Expenses related to low-value assets
1.1
0.8
Depreciation
76.6
76.7
Net impairment charge
1.7
15.7
The weighted average incremental borrowing rate applied to property leases is 4.3% (28 December 2024: 4.3%),
and for fleet leases is 7.4% (28 December 2024: 6.9%). Incremental borrowing rates for property leases are
calculated from Group debt costs modified for retail property yields across the UK. Incremental borrowing rates
for fleet leases are calculated from hire-purchase rates.
Sublet income
The Group leases space in some of its stores to third parties. Property rental income earned during the period in
respect of these properties is disclosed in note 6.
At the balance sheet date, the Group had contracts with lessees for the following undiscounted future minimum
lease payments:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Within one year
2.1
3.4
One to five years
5.6
10.6
After five years
0.5
14.2
Total
8.2
28.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-376": { "value": "14 Right-of-use assets The Group leases many assets including land and buildings and vehicles. The weighted average remaining lease term of all leases is 9.5 years (28 December 2024: 9.6 years). Information about leases for which the Group is a lessee is presented below. At 27 December 2025, the Group had no material leases committed to but not yet commenced (28 December 2024: nil). The Group does not enter into turnover rent agreements or have material variable payments. It holds 15 property leases which contain termination options and, given there is not an economic incentive to exercise the option given the performance of the related stores, the extended period is included within our IFRS 16 calculations. The Group does not have any significant extension options in its lease agreements. The modifications relate predominantly to increases in lease terms within the store portfolio.
Net carrying value Land and Plant and
(\u00a3m) buildings
equipment
Total
At 30 December 2023
520.7
16.4
5 37.1
Additions
38.1
22.8
60.9
Modifications
53.0
\u2013
53.0
Terminations
\u2013
(0.8)
(0.8)
Depreciation
(67.6)
(9.1)
(76.7)
Impairments
(12.3)
\u2013
(12.3)
Reversal of previous impairments
1.3
\u2013
1.3
At 28 December 2024
533.2
29.3
562.5
Additions
12.3
5.3
17.6
Modifications
76.7
1.6
78.3
Terminations
(0.2)
\u2013
(0.2)
Depreciation
(68.1)
(8.5)
(76.6)
Impairments
(1.7)
\u2013
(1.7)
At 27 December 2025
552.2
27.7
579.9
As at As at
Lease liabilities 27 December 28 December
(\u00a3m) 2025 2024
Maturity analysis \u2013 contractual undiscounted cash flow
Less than one year
115.2
112.3
One to two years
110.2
111.1
Two to five years
278.2
285.4
Five to ten years
255.6
253.7
More than ten years
133.0
105.7
Total undiscounted lease liabilities
892.2
868.2
Lease liabilities included in the balance sheet
Current
84.3
80.4
Non-current
635.5
624.9
719.8
705.3
52 weeks ended 52 weeks ended
Amounts recognised in the income statement 28 December 28 December
(\u00a3m) 2025 2024
Interest expense on lease liabilities
31.1
30.1
Expenses related to short-term leases
\u2013
0.3
Expenses related to low-value assets
1.1
0.8
Depreciation
76.6
76.7
Net impairment charge
1.7
15.7
The weighted average incremental borrowing rate applied to property leases is 4.3% (28 December 2024: 4.3%), and for fleet leases is 7.4% (28 December 2024: 6.9%). Incremental borrowing rates for property leases are calculated from Group debt costs modified for retail property yields across the UK. Incremental borrowing rates for fleet leases are calculated from hire-purchase rates. Sublet income The Group leases space in some of its stores to third parties. Property rental income earned during the period in respect of these properties is disclosed in note 6. At the balance sheet date, the Group had contracts with lessees for the following undiscounted future minimum lease payments:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Within one year
2.1
3.4
One to five years
5.6
10.6
After five years
0.5
14.2
Total
8.2
28.2
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-347": { "value": "15 Impairment testing Measuring recoverable amounts For stores impairment testing purposes, the Group has determined that each store is a separate CGU. \u2018Click and collect\u2019 sales and an allocation by store of delivered online sales are included in store cash flows to reflect the contributions stores make to fulfilling such orders. CGUs are reviewed for indicators of impairment at each reporting date. Where estate wide indicators are identified (eg weakening macroeconomic environment), all stores are treated as having an indicator of impairment. In the absence of such estate wide indicators, stores are reviewed for specific impairment indicators. This includes an assessment as to whether any stores are exposed to events that could have a permanent adverse effect on their ability to trade, which includes, but is not limited to, catastrophic physical events including any related to climate change, substantial changes in the use of asset or entry of a major competitor in the same locality. In addition, a review of each store\u2019s performance against its budget and year on year changes in the Board-approved five-year plan are considered as part of the indicator review. The Group\u2019s goodwill is tested for impairment at each reporting date. Goodwill relates to the acquisition of two tranches of stores formerly operating under the Focus brand in 2007 and 2011, and also the acquisition of a 51% holding in Gas Fast Limited in 2024, now trading as Wickes Solar. For goodwill related to the acquired stores, cash flows generated by the whole store portfolio are used to support the goodwill balance. The goodwill related to the acquistion of Gas Fast Limited is tested against cash flows forecast to be generated from the Wickes Solar operations. Both sets of cash flows are derived from the Board-approved-five-year plan. In accordance with IFRS, the recoverable amount of an asset is the greater of its value in use and its fair value less costs to sell. Recognising that a value in use approach will reflect the valuation premium arising from both the Group\u2019s store network and fulfilment model, as well as the significant investment made centrally to support its key growth drivers, which should be excluded when calculating fair value, value in use has been used when calculating recoverable amount in the current year. The carrying value of CGUs for store impairment testing represents each store\u2019s specific assets, the IFRS 16 right-of-use asset, plus an allocation of corporate assets (and related cash flows) where these assets can be allocated on a reasonable basis. In the 52 weeks ended 27 December 2025, the method of allocating corporate assets have been enhanced so that the amount allocated to each CGU takes the lease length of each CGU into consideration. The total value of these assets attributable to stores is \u00a3670.1m (28 December 2024: \u00a3678.3m). Key assumptions The estimation of future cash flows is derived from the Board approved five-year plan, which is developed from a variety of sources including store performance, competitor activity, and consumer and market outlook. The key assumptions underpinning the value in use model include revenue growth and gross margin in the Board approved five-year plan, and an allocation of a percentage of central costs. The table below identified the key assumptions related to store impairment testing and goodwill related to the acquisition of two tranches of stores.
2025
2024
Pre-tax discount rate
13.8%
13.4%
Revenue growth rate
3.5%\u20133.7%
4%\u20137%
Gross margin
41%-43%
40%\u201346%
Central cost allocation
62.1%
61.2%
Management determined the values assigned to these financial assumptions as follows: \u2013 Revenue growth rates and gross margin in the five-year plan period are after removing the impact of new stores, refits, and significant cost saving programmes that are yet to be enacted at the period end, but include the impact of all known ESG commitments and risks. These rates change each year based on both external and internal factors. \u2013 The pre-tax discount rate is derived from the Group\u2019s weighted average cost of capital, which has been calculated using the capital asset pricing model, the inputs of which include a UK risk-free rate, equity risk premium, Group size premium and a risk adjustment (beta). \u2013 Central costs are reviewed to identify amounts which are necessarily incurred to generate the CGU cash flows. Costs are allocated by category using appropriate volumetrics. A proportion of stewardship costs are allocated to CGUs, excluding those costs which are incurred solely due to the listed nature of the Group. For goodwill related to the 51% acquisition of Wickes Solar, the key assumptions relate to a pre-tax discount rate at 24.2% (28 December 2024: 23.15%), which is a derivation of the Group\u2019s weighted average cost of capital, as noted above, with a risk premium tailored to the size of the Wickes Solar business, revenue growth rate of 45% (28 December 2024: 23% to 51%) and gross margin of 37% to 40% (28 December 2024: 41% to 45%). Whilst the directors consider their assumptions to be realistic, including those for market changes, the estimated future cash flows derived from the Board approved five-year plan require the achievement of company specific growth initiatives. Should actual results be different from expectations, for instance due to worsening of the UK economy, then it is possible that the value of non-current assets included in the balance sheet could be impaired. Cash flows beyond five-year plan period (2031 and beyond) have been determind using an appropriate long-term nominal growth rate, which is not considered to be a key assumption. Impairment of goodwill At 27 December 2025 the aggregated value in use of all store CGUs was in excess of the goodwill carrying amount relating to the Focus acquisition. For goodwill related to Wickes Solar, the impairment review was carried out using the assumptions and methodology disclosed in this note. No impairment has been recognised with respect to goodwill. Impairment of store related right-of-use assets and property, plant and equipment The impairment assessment performed on indicated stores has identified 4 stores that are impaired resulting in \u00a31.9m (28 December 2024: \u00a318.1m) of impairment charge, split as \u00a31.7m (28 December 2024: \u00a312.3m) relating to right-of-use assets and \u00a30.2m (28 December 2024: \u00a35.8m) relating to property, plant and equipment. The charge was due to performance not being in line with expectations for these stores. No impairment reversals have been recognised (28 December 2024: \u00a31.3m to right-of-use assets). The impairment charge is recognised within selling costs. Given the size and nature of the total store impairment charge, this is included within adjusting items as disclosed in note 9. The carrying amount of non-current assets attributable to the stores that have been impaired, after impairment, is \u00a314.0m (28 December 2024: \u00a352.1m). Impairment of sensitivities It is possible that a materially different impairment would have been identified if the key assumptions were changed in the value-in-use calculations for store impairment testing. The impact on the impairment recognised for store impairment testing from reasonably possible changes in assumption, all other assumptions remaining the same, are shown in the table below. Assumption
(\u00a3m)
Decrease/(increase) in impairment
Store revenue increases/(decreases) by 2%
\u00a31.1m - \u00a3(3.2)m
Gross margin increases/(decreases) by 1%
\u00a31.4m - \u00a3(3.8)m
Percentage of central costs allocated decreases/(increases) by 10%
\u00a30.7m - \u00a3(2.4)m
Discount rate decreases/(increases) by 100 basis points
\u00a30.4m - \u00a3(1.8)m
For goodwill relating to Wickes Solar and also the acquisition of Focus stores, no reasonably possible changes to assumptions would result in a change to the impariment outcome.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-407": { "value": "16 Deferred tax The following are the major deferred tax assets and (liabilities) recognised by the Group and movements thereon during the current and prior reporting periods.
Capital Share-based
Tax losses
Provisions
Allowance
payments
Leases
Total
At 30 December 2023
\u2013
1.5
(10.2)
2.5
29.2
23.0
(Charge)/credit to the Income
statement
(1.8)
0.2
0.8
0.1
6.4
5.7
Credit to equity
\u2013
\u2013
\u2013
1.5
\u2013
1.5
Prior period adjustment
1.7
(0.7)
1.7
(1.7)
(1.5)
(0.5)
Change in tax rates
0.1
\u2013
0.1
(0.1)
\u2013
0.1
At 28 December 2024
\u2013
1.0
(7.6)
2.3
34.1
29.8
Credit/(charge) to the Income
statement
0.3
0.3
3.4
0.5
(1.0)
3.5
Charge to equity
\u2013
\u2013
\u2013
(0.3)
\u2013
(0.3)
Prior period adjustment
\u2013
\u2013
(3.6)
0.2
(3.5)
(6.9)
At 27 December 2025
0.3
1.3
(7.8)
2.7
29.6
26.1
Disclosed within non-current assets
0.3
1.3
(7.8)
2.7
29.6
26.1
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realised or the liability settled, based on tax rates that have been enacted, or substantively enacted, at the balance sheet date. The Group has separately calculated the tax rates applicable in respect of Adjusting items for the period as well as the tax rate change as a result of the increase in the rate of UK corporation tax effective from 1 April 2023 from 19% to 25%. The legislation enacting this rate increase was substantively enacted on 24 May 2021. As at 27 December 2025, the \u00a329.6m deferred tax asset relating to leases comprises a \u00a3173.6m (28 December 2024: \u00a3172.3m) deferred tax asset for lease liabilities and a \u00a3144.0m (28 December 2024: \u00a3138.2m) deferred tax liability for right of use assets. For the 52 weeks ended 27 December 2025, a \u00a35.9m charge to the income statement was recognised with respect to right-of-use assets (28 December 2024: \u00a33.9m), partially offset by a \u00a34.9m credit with respect to lease liabilities (28 December 2024: \u00a310.3m). At 27 December 2025, the Group had unused capital losses of \u00a337.6m (28 December 2024: \u00a337.6m) available for offset against future capital profits. No deferred tax asset has been recognised because it is unlikely that future taxable capital gains will be available against which the Group can utilise the losses.", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-377": { "value": "16 Deferred tax The following are the major deferred tax assets and (liabilities) recognised by the Group and movements thereon during the current and prior reporting periods.
Capital Share-based
Tax losses
Provisions
Allowance
payments
Leases
Total
At 30 December 2023
\u2013
1.5
(10.2)
2.5
29.2
23.0
(Charge)/credit to the Income
statement
(1.8)
0.2
0.8
0.1
6.4
5.7
Credit to equity
\u2013
\u2013
\u2013
1.5
\u2013
1.5
Prior period adjustment
1.7
(0.7)
1.7
(1.7)
(1.5)
(0.5)
Change in tax rates
0.1
\u2013
0.1
(0.1)
\u2013
0.1
At 28 December 2024
\u2013
1.0
(7.6)
2.3
34.1
29.8
Credit/(charge) to the Income
statement
0.3
0.3
3.4
0.5
(1.0)
3.5
Charge to equity
\u2013
\u2013
\u2013
(0.3)
\u2013
(0.3)
Prior period adjustment
\u2013
\u2013
(3.6)
0.2
(3.5)
(6.9)
At 27 December 2025
0.3
1.3
(7.8)
2.7
29.6
26.1
Disclosed within non-current assets
0.3
1.3
(7.8)
2.7
29.6
26.1
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realised or the liability settled, based on tax rates that have been enacted, or substantively enacted, at the balance sheet date. The Group has separately calculated the tax rates applicable in respect of Adjusting items for the period as well as the tax rate change as a result of the increase in the rate of UK corporation tax effective from 1 April 2023 from 19% to 25%. The legislation enacting this rate increase was substantively enacted on 24 May 2021. As at 27 December 2025, the \u00a329.6m deferred tax asset relating to leases comprises a \u00a3173.6m (28 December 2024: \u00a3172.3m) deferred tax asset for lease liabilities and a \u00a3144.0m (28 December 2024: \u00a3138.2m) deferred tax liability for right of use assets. For the 52 weeks ended 27 December 2025, a \u00a35.9m charge to the income statement was recognised with respect to right-of-use assets (28 December 2024: \u00a33.9m), partially offset by a \u00a34.9m credit with respect to lease liabilities (28 December 2024: \u00a310.3m). At 27 December 2025, the Group had unused capital losses of \u00a337.6m (28 December 2024: \u00a337.6m) available for offset against future capital profits. No deferred tax asset has been recognised because it is unlikely that future taxable capital gains will be available against which the Group can utilise the losses.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-348": { "value": "
17 Investments
As at 27 December 2025, these consolidated financial statements of the Group comprise the Company, Wickes
Group Plc, and the following subsidiaries which are all incorporated in the United Kingdom.
Incorporated in England and Wales and registered at
Vision House, 19 Colonial Way, Watford, WD24 4JL
Principal activity
% interest held
Class of share
Wickes Group Holdings Limited
Holding company
100%
Ordinary
Wickes Building Supplies Limited*
Home improvement retailer
100%
Ordinary
Gas Fast Limited*
Solar installations
51%
Ordinary
Wickes Finance Limited*
Dormant
100%
Ordinary
Wickes Holdings Limited*
Dormant
100%
Ordinary
* indirect shareholding
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-408": { "value": "17 Investments As at 27 December 2025, these consolidated financial statements of the Group comprise the Company, Wickes Group Plc, and the following subsidiaries which are all incorporated in the United Kingdom.
Incorporated in England and Wales and registered at
Vision House, 19 Colonial Way, Watford, WD24 4JL
Principal activity
% interest held
Class of share
Wickes Group Holdings Limited
Holding company
100%
Ordinary
Wickes Building Supplies Limited*
Home improvement retailer
100%
Ordinary
Gas Fast Limited*
Solar installations
51%
Ordinary
Wickes Finance Limited*
Dormant
100%
Ordinary
Wickes Holdings Limited*
Dormant
100%
Ordinary
* indirect shareholding", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-396": { "value": "17 Investments As at 27 December 2025, these consolidated financial statements of the Group comprise the Company, Wickes Group Plc, and the following subsidiaries which are all incorporated in the United Kingdom.
Incorporated in England and Wales and registered at
Vision House, 19 Colonial Way, Watford, WD24 4JL
Principal activity
% interest held
Class of share
Wickes Group Holdings Limited
Holding company
100%
Ordinary
Wickes Building Supplies Limited*
Home improvement retailer
100%
Ordinary
Gas Fast Limited*
Solar installations
51%
Ordinary
Wickes Finance Limited*
Dormant
100%
Ordinary
Wickes Holdings Limited*
Dormant
100%
Ordinary
* indirect shareholding", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-378": { "value": "17 Investments As at 27 December 2025, these consolidated financial statements of the Group comprise the Company, Wickes Group Plc, and the following subsidiaries which are all incorporated in the United Kingdom.
Incorporated in England and Wales and registered at
Vision House, 19 Colonial Way, Watford, WD24 4JL
Principal activity
% interest held
Class of share
Wickes Group Holdings Limited
Holding company
100%
Ordinary
Wickes Building Supplies Limited*
Home improvement retailer
100%
Ordinary
Gas Fast Limited*
Solar installations
51%
Ordinary
Wickes Finance Limited*
Dormant
100%
Ordinary
Wickes Holdings Limited*
Dormant
100%
Ordinary
* indirect shareholding", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-349": { "value": "18 Inventories
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Inventories
199.4
192.9
Inventories consist of goods for resale. Inventories are stated after provisions for impairment of \u00a33.1m (2024: \u00a33.7m) and includes a deduction to account for rebates earned on purchases and held in inventory at year end of \u00a310.3m (2024: \u00a38.4m). Cost of sales for the 52 weeks ended 27 December 2025 includes inventory recognised as an expense amounting to \u00a3891.3m (52 weeks ended 28 December 2024: \u00a3844.4m).
52 weeks ended 52 weeks ended
27 December 28 December
2025 2024
Movement in stock provisions
Opening provision
3.7
3.7
Provision utilisation
(11.8)
(11.9)
Provision increased
11.2
11.9
Closing provision
3.1
3.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-350": { "value": "
19 Trade and other receivables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade receivables
31.7
31.1
Allowance for expected credit losses
(1.0)
(0.9)
30.7
30.2
Other receivables
17.7
25.1
Prepayments and accrued income
15.3
15.3
Total current trade and other receivables
63.7
70.6
Trade receivables primarily represent amounts receivable following the delivery of goods purchased through
finance agreements or completion of a Design & Installation project installation and electronic payment
transactions with customers that were not received into the bank at the year end. Cash received from third
parties providing finance to the Group\u2019s customers is recognised in the Cash Flow Statement as an operating
cash flow.
The ageing of trade receivables is shown below. A provision for expected credit losses has been recognised at
the reporting date through consideration of the ageing profile and the risk of non-recovery. The carrying amount
of trade receivables, net of expected credit losses, is considered to be an approximation to its fair value.
Trade receivables on financed sales are ordinarily settled by financing providers; the Group does not retain
consumer credit risk in respect of these sales. In a small number of cases, despite the Group having fulfilled its
obligations under the installation contract, there may be a technical delay in receiving final settlement from the
finance partner. The Group assesses whether these delays may result in amounts ultimately not being received
and establishes a credit loss accordingly. Credit risk on credit card transactions is retained by the card issuer.
The loss allowance for trade receivables was determined as follows:
More than
Saturday 27 December 2025
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
3.2%
\u2013
\u2013
\u2013
\u2013
3.2%
Carrying amount of trade
receivables (\u00a3m)
31.6
0.1
\u2013
\u2013
\u2013
31.7
Loss allowance (\u00a3m)
(1.0)
\u2013
\u2013
\u2013
\u2013
(1.0)
More than
Saturday 28 December 2024
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
2.9%
\u2013
\u2013
\u2013
\u2013
2.9%
Carrying amount of trade
receivables (\u00a3m)
31.1
\u2013
\u2013
\u2013
\u2013
31.1
Loss allowance (\u00a3m)
(0.9)
\u2013
\u2013
\u2013
\u2013
(0.9)
The Group assesses expected credit losses associated with the trade receivable on a forward looking basis by
considering actual credit loss experience and whether there has been a significant increase in credit risk.
The movement in the allowance for impairment in respect of trade receivables during the period was as follows:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
At the beginning of the period
0.9
1.0
Provided in the period
0.5
0.4
Released during the period
(0.4)
(0.5)
At the end of the period
1.0
0.9
Trade receivables are written off when there is no longer a reasonable expectation of recovery. This is primarily
where settlement is not received from the finance partners and an alternative payment plan cannot be agreed
with the customer directly, or where a payment plan exists and the customer has failed to make contractual
payments for a period greater than one year past due.
When assessing credit losses, trade receivables are grouped according to shared characteristics (payor/payor
type) and the days past due. Given the primary settlors of trade receivables are consumer credit providers that
have stable credit ratings, the Group has concluded that historical debt performance of the portfolio during the
last three reporting periods provides a reasonable approximation of the future expected loss rates for each
payor age category.
Other receivables primarily represent amounts due from suppliers to the Group for rebates of \u00a315.7m
(28 December 2024: \u00a323.7m). These amounts are recorded as other receivables unless a legally binding
arrangement exists and management intends to settle on a net basis, in which case they are offset against
trade payables.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-409": { "value": "19 Trade and other receivables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade receivables
31.7
31.1
Allowance for expected credit losses
(1.0)
(0.9)
30.7
30.2
Other receivables
17.7
25.1
Prepayments and accrued income
15.3
15.3
Total current trade and other receivables
63.7
70.6
Trade receivables primarily represent amounts receivable following the delivery of goods purchased through finance agreements or completion of a Design & Installation project installation and electronic payment transactions with customers that were not received into the bank at the year end. Cash received from third parties providing finance to the Group\u2019s customers is recognised in the Cash Flow Statement as an operating cash flow. The ageing of trade receivables is shown below. A provision for expected credit losses has been recognised at the reporting date through consideration of the ageing profile and the risk of non-recovery. The carrying amount of trade receivables, net of expected credit losses, is considered to be an approximation to its fair value. Trade receivables on financed sales are ordinarily settled by financing providers; the Group does not retain consumer credit risk in respect of these sales. In a small number of cases, despite the Group having fulfilled its obligations under the installation contract, there may be a technical delay in receiving final settlement from the finance partner. The Group assesses whether these delays may result in amounts ultimately not being received and establishes a credit loss accordingly. Credit risk on credit card transactions is retained by the card issuer. The loss allowance for trade receivables was determined as follows:
More than
Saturday 27 December 2025
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
3.2%
\u2013
\u2013
\u2013
\u2013
3.2%
Carrying amount of trade
receivables (\u00a3m)
31.6
0.1
\u2013
\u2013
\u2013
31.7
Loss allowance (\u00a3m)
(1.0)
\u2013
\u2013
\u2013
\u2013
(1.0)
More than
Saturday 28 December 2024
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
2.9%
\u2013
\u2013
\u2013
\u2013
2.9%
Carrying amount of trade
receivables (\u00a3m)
31.1
\u2013
\u2013
\u2013
\u2013
31.1
Loss allowance (\u00a3m)
(0.9)
\u2013
\u2013
\u2013
\u2013
(0.9)
The Group assesses expected credit losses associated with the trade receivable on a forward looking basis by considering actual credit loss experience and whether there has been a significant increase in credit risk. The movement in the allowance for impairment in respect of trade receivables during the period was as follows:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
At the beginning of the period
0.9
1.0
Provided in the period
0.5
0.4
Released during the period
(0.4)
(0.5)
At the end of the period
1.0
0.9
Trade receivables are written off when there is no longer a reasonable expectation of recovery. This is primarily where settlement is not received from the finance partners and an alternative payment plan cannot be agreed with the customer directly, or where a payment plan exists and the customer has failed to make contractual payments for a period greater than one year past due. When assessing credit losses, trade receivables are grouped according to shared characteristics (payor/payor type) and the days past due. Given the primary settlors of trade receivables are consumer credit providers that have stable credit ratings, the Group has concluded that historical debt performance of the portfolio during the last three reporting periods provides a reasonable approximation of the future expected loss rates for each payor age category. Other receivables primarily represent amounts due from suppliers to the Group for rebates of \u00a315.7m (28 December 2024: \u00a323.7m). These amounts are recorded as other receivables unless a legally binding arrangement exists and management intends to settle on a net basis, in which case they are offset against trade payables.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-397": { "value": "19 Trade and other receivables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade receivables
31.7
31.1
Allowance for expected credit losses
(1.0)
(0.9)
30.7
30.2
Other receivables
17.7
25.1
Prepayments and accrued income
15.3
15.3
Total current trade and other receivables
63.7
70.6
Trade receivables primarily represent amounts receivable following the delivery of goods purchased through finance agreements or completion of a Design & Installation project installation and electronic payment transactions with customers that were not received into the bank at the year end. Cash received from third parties providing finance to the Group\u2019s customers is recognised in the Cash Flow Statement as an operating cash flow. The ageing of trade receivables is shown below. A provision for expected credit losses has been recognised at the reporting date through consideration of the ageing profile and the risk of non-recovery. The carrying amount of trade receivables, net of expected credit losses, is considered to be an approximation to its fair value. Trade receivables on financed sales are ordinarily settled by financing providers; the Group does not retain consumer credit risk in respect of these sales. In a small number of cases, despite the Group having fulfilled its obligations under the installation contract, there may be a technical delay in receiving final settlement from the finance partner. The Group assesses whether these delays may result in amounts ultimately not being received and establishes a credit loss accordingly. Credit risk on credit card transactions is retained by the card issuer. The loss allowance for trade receivables was determined as follows:
More than
Saturday 27 December 2025
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
3.2%
\u2013
\u2013
\u2013
\u2013
3.2%
Carrying amount of trade
receivables (\u00a3m)
31.6
0.1
\u2013
\u2013
\u2013
31.7
Loss allowance (\u00a3m)
(1.0)
\u2013
\u2013
\u2013
\u2013
(1.0)
More than
Saturday 28 December 2024
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
2.9%
\u2013
\u2013
\u2013
\u2013
2.9%
Carrying amount of trade
receivables (\u00a3m)
31.1
\u2013
\u2013
\u2013
\u2013
31.1
Loss allowance (\u00a3m)
(0.9)
\u2013
\u2013
\u2013
\u2013
(0.9)
The Group assesses expected credit losses associated with the trade receivable on a forward looking basis by considering actual credit loss experience and whether there has been a significant increase in credit risk. The movement in the allowance for impairment in respect of trade receivables during the period was as follows:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
At the beginning of the period
0.9
1.0
Provided in the period
0.5
0.4
Released during the period
(0.4)
(0.5)
At the end of the period
1.0
0.9
Trade receivables are written off when there is no longer a reasonable expectation of recovery. This is primarily where settlement is not received from the finance partners and an alternative payment plan cannot be agreed with the customer directly, or where a payment plan exists and the customer has failed to make contractual payments for a period greater than one year past due. When assessing credit losses, trade receivables are grouped according to shared characteristics (payor/payor type) and the days past due. Given the primary settlors of trade receivables are consumer credit providers that have stable credit ratings, the Group has concluded that historical debt performance of the portfolio during the last three reporting periods provides a reasonable approximation of the future expected loss rates for each payor age category. Other receivables primarily represent amounts due from suppliers to the Group for rebates of \u00a315.7m (28 December 2024: \u00a323.7m). These amounts are recorded as other receivables unless a legally binding arrangement exists and management intends to settle on a net basis, in which case they are offset against trade payables.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-379": { "value": "19 Trade and other receivables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade receivables
31.7
31.1
Allowance for expected credit losses
(1.0)
(0.9)
30.7
30.2
Other receivables
17.7
25.1
Prepayments and accrued income
15.3
15.3
Total current trade and other receivables
63.7
70.6
Trade receivables primarily represent amounts receivable following the delivery of goods purchased through finance agreements or completion of a Design & Installation project installation and electronic payment transactions with customers that were not received into the bank at the year end. Cash received from third parties providing finance to the Group\u2019s customers is recognised in the Cash Flow Statement as an operating cash flow. The ageing of trade receivables is shown below. A provision for expected credit losses has been recognised at the reporting date through consideration of the ageing profile and the risk of non-recovery. The carrying amount of trade receivables, net of expected credit losses, is considered to be an approximation to its fair value. Trade receivables on financed sales are ordinarily settled by financing providers; the Group does not retain consumer credit risk in respect of these sales. In a small number of cases, despite the Group having fulfilled its obligations under the installation contract, there may be a technical delay in receiving final settlement from the finance partner. The Group assesses whether these delays may result in amounts ultimately not being received and establishes a credit loss accordingly. Credit risk on credit card transactions is retained by the card issuer. The loss allowance for trade receivables was determined as follows:
More than
Saturday 27 December 2025
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
3.2%
\u2013
\u2013
\u2013
\u2013
3.2%
Carrying amount of trade
receivables (\u00a3m)
31.6
0.1
\u2013
\u2013
\u2013
31.7
Loss allowance (\u00a3m)
(1.0)
\u2013
\u2013
\u2013
\u2013
(1.0)
More than
Saturday 28 December 2024
Current
1-30 days
31-60 days
61-120 days
120 days
Total
Expected loss rate
2.9%
\u2013
\u2013
\u2013
\u2013
2.9%
Carrying amount of trade
receivables (\u00a3m)
31.1
\u2013
\u2013
\u2013
\u2013
31.1
Loss allowance (\u00a3m)
(0.9)
\u2013
\u2013
\u2013
\u2013
(0.9)
The Group assesses expected credit losses associated with the trade receivable on a forward looking basis by considering actual credit loss experience and whether there has been a significant increase in credit risk. The movement in the allowance for impairment in respect of trade receivables during the period was as follows:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
At the beginning of the period
0.9
1.0
Provided in the period
0.5
0.4
Released during the period
(0.4)
(0.5)
At the end of the period
1.0
0.9
Trade receivables are written off when there is no longer a reasonable expectation of recovery. This is primarily where settlement is not received from the finance partners and an alternative payment plan cannot be agreed with the customer directly, or where a payment plan exists and the customer has failed to make contractual payments for a period greater than one year past due. When assessing credit losses, trade receivables are grouped according to shared characteristics (payor/payor type) and the days past due. Given the primary settlors of trade receivables are consumer credit providers that have stable credit ratings, the Group has concluded that historical debt performance of the portfolio during the last three reporting periods provides a reasonable approximation of the future expected loss rates for each payor age category. Other receivables primarily represent amounts due from suppliers to the Group for rebates of \u00a315.7m (28 December 2024: \u00a323.7m). These amounts are recorded as other receivables unless a legally binding arrangement exists and management intends to settle on a net basis, in which case they are offset against trade payables.", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-351": { "value": "20 Cash and cash equivalents
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Cash at Bank
4.0
4.4
Short-term deposits
87.7
81.9
91.7
86.3
Cash and cash equivalents comprise cash balances, short-term deposits and other short term highly liquid investments (including money market funds) with maturities not exceeding three months from the date of acquisition placed with investment grade counterparties which are subject to an insignificant risk of change in value.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-352": { "value": "
21 Capital and reserves
10 pence ordinary shares
The Group and Company
Shares
\u00a3m
Authorised, issued and fully paid
At 30 December 2023
252,125,375
25.2
Shares cancelled
(10,059,076)
(1.0)
At 30 December 2024
242,066,299
24.2
Shares cancelled
(9,320,789)
(0.9)
At 27 December 2025
232,745,510
23.3
The Group and Company have 232,745,510 allotted and fully paid ordinary shares of 10 pence each. There is a
single class of ordinary shares and all shares rank equally with regard to the Company\u2019s residual asset. The
holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at
meetings of the Company.
No shares were issued during the current financial year in relation to share options.
During the 52 weeks ended 27 December 2025, 9.3 million (52 weeks ended 28 December 2024: 10.1 million)
shares were purchased from the market and also cancelled, as part of the share buyback programme. The total
consideration of \u00a320.1m (52 weeks ended 28 December 2024: \u00a315.1m) was charged to retained earnings
including \u00a30.1m for stamp duty and commission (52 weeks ended 28 December 2024: \u00a30.1m). The aggregate
nominal value of shares cancelled and transferred to the capital redemption reserve was \u00a30.9m (52 weeks
ended 28 December 2024: \u00a31.0m).
EBT share reserves
The Wickes Employee Benefit Trust and Equiniti Share Plan Trustees Limited (together \u201cthe Trusts\u201d) have been
put in place to further the interests of the Company by benefiting employees of the Group. The Trusts are
treated as an extension of the Group and the Company.
Where the Trusts purchase the Company\u2019s equity share capital the consideration paid, including any directly
attributable incremental costs, is deducted from equity attributable to the Company\u2019s equity holders until the
shares are cancelled or reissued. As at 27 December 2025, 7,703,835 shares (28 December 2024: 4,778,750
shares) were held by the Trusts in relation to the Company\u2019s share plans. The Trusts\u2019 share reserves balance as
at 27 December 2025 was \u00a313.7m (28 December 2024: \u00a30.5m). During the 52 weeks ended 27 December 2025,
share purchases of \u00a318.1m were made (52 weeks ended 28 December 2024: \u00a3nil), partially offset by cash
received from employees for exercises of SAYE schemes of \u00a35.6m (52 weeks ended 28 December 2024: \u00a3nil)
As at As at
27 December 28 December
(number of shares) 2025 2024
At the beginning of the period
4,778,750
5,918,098
Own shares purchased for share schemes
9,708,712
\u2013
Shares released to participants
(6,783,627)
(1,139,348)
At the end of the period
7,703,835
4,778,750
Other reserves
The Other reserves balance as at 27 December 2025 of \u00a3785.7m (28 December 2024: \u00a3785.7m) was created on
the acquisition in March 2020 by Wickes Group Plc of Wickes Group Holdings Limited and by Wickes Group
Holdings Limited of Wickes Building Supplies Limited and Wickes Finance Limited, via share for share
exchanges, and represents the difference between the carrying value of the assets and liabilities of the acquired
companies and the nominal value and premium of the shares issued.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-380": { "value": "
10 pence ordinary shares
The Group and Company
Shares
\u00a3m
Authorised, issued and fully paid
At 30 December 2023
252,125,375
25.2
Shares cancelled
(10,059,076)
(1.0)
At 30 December 2024
242,066,299
24.2
Shares cancelled
(9,320,789)
(0.9)
At 27 December 2025
232,745,510
23.3
The Group and Company have 232,745,510 allotted and fully paid ordinary shares of 10 pence each. There is a single class of ordinary shares and all shares rank equally with regard to the Company\u2019s residual asset. The holders of ordinary shares are entitled to receive dividends as declared and are entitled to one vote per share at meetings of the Company. No shares were issued during the current financial year in relation to share options. During the 52 weeks ended 27 December 2025, 9.3 million (52 weeks ended 28 December 2024: 10.1 million) shares were purchased from the market and also cancelled, as part of the share buyback programme. The total consideration of \u00a320.1m (52 weeks ended 28 December 2024: \u00a315.1m) was charged to retained earnings including \u00a30.1m for stamp duty and commission (52 weeks ended 28 December 2024: \u00a30.1m). The aggregate nominal value of shares cancelled and transferred to the capital redemption reserve was \u00a30.9m (52 weeks ended 28 December 2024: \u00a31.0m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-381": { "value": "EBT share reserves The Wickes Employee Benefit Trust and Equiniti Share Plan Trustees Limited (together \u201cthe Trusts\u201d) have been put in place to further the interests of the Company by benefiting employees of the Group. The Trusts are treated as an extension of the Group and the Company. Where the Trusts purchase the Company\u2019s equity share capital the consideration paid, including any directly attributable incremental costs, is deducted from equity attributable to the Company\u2019s equity holders until the shares are cancelled or reissued. As at 27 December 2025, 7,703,835 shares (28 December 2024: 4,778,750 shares) were held by the Trusts in relation to the Company\u2019s share plans. The Trusts\u2019 share reserves balance as at 27 December 2025 was \u00a313.7m (28 December 2024: \u00a30.5m). During the 52 weeks ended 27 December 2025, share purchases of \u00a318.1m were made (52 weeks ended 28 December 2024: \u00a3nil), partially offset by cash received from employees for exercises of SAYE schemes of \u00a35.6m (52 weeks ended 28 December 2024: \u00a3nil)
As at As at
27 December 28 December
(number of shares) 2025 2024
At the beginning of the period
4,778,750
5,918,098
Own shares purchased for share schemes
9,708,712
\u2013
Shares released to participants
(6,783,627)
(1,139,348)
At the end of the period
7,703,835
4,778,750
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-382": { "value": "Other reserves The Other reserves balance as at 27 December 2025 of \u00a3785.7m (28 December 2024: \u00a3785.7m) was created on the acquisition in March 2020 by Wickes Group Plc of Wickes Group Holdings Limited and by Wickes Group Holdings Limited of Wickes Building Supplies Limited and Wickes Finance Limited, via share for share exchanges, and represents the difference between the carrying value of the assets and liabilities of the acquired companies and the nominal value and premium of the shares issued.", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-353": { "value": "
22 Borrowings
Bank borrowings
In March 2024, the Group completed an \u201cAmend and Extend\u201d of its revolving credit facility (RCF), extending the
maturity to March 2028 with an option for a further year. In the period ended 27 December 2025, a further one
year extension was obtained, extending the expiry date to March 2029.
The group does not have an overdraft facility as at 27 December 2025 (28 December 2024: no facility).
At the period end, the Group had the following borrowing facility available:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Undrawn facilities:
Committed revolving credit facility (expires March 2029)
80.0
80.0
80.0
80.0
Lease liabilities
Obligations under finance leases
The Group has entered into lease agreements in respect of retail stores, warehouses, vehicles and office
equipment. The leases are secured on floating charges over both the present and future assets of material
subsidiaries in the Group. Leases, with a present value liability of \u00a3719.8m (28 December 2024: \u00a3705.3m), expire
in various years to 2046 and carry an average incremental borrowing rate of 4.4% (28 December 2024: 4.4%).
Rent in respect of retail stores leases are reviewed by the landlord periodically, subject to assorted floors and
caps. Except for these reviews, cash flows and charges are expected to remain in line with the current period.
The discount rates used are calculated at inception of the lease on a lease by lease basis, and are based on
estimates of incremental borrowing rates.
Changes in lease liabilities arising from financing activities are detailed in note 23.
In the period, the Group recognised charges of \u00a31.1m (28 December 2024: \u00a31.1m) of lease expenses relating to
short term and low value leases for which the exemption under IFRS 16 has been taken.
See note 14 for more detail on the depreciation of the Right-of-use (ROU) assets and note 7 for more detail on
the interest expense relating to leases.
29 Financial instruments
The carrying value of categories of financial instruments
As at As at
27 December 28 December
(\u00a3m)
Note
2025 2024
Financial assets:
Cash and cash equivalents
20
91.7
86.3
Trade and other receivables at amortised cost
19
48.4
55.3
140.1
141.6
Financial Liabilities
Trade and other payables at amortised cost
25
147.6
138.1
Lease liabilities
23
719.8
705.3
867.4
843.4
Credit risk and impairment
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to
meet its contractual obligations, and arises principally from the Group\u2019s receivables from customers and
financing institutions.
Trade and other receivables
The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The
Group\u2019s exposure to credit risk from trade receivables is considered to be low because of the nature of its
customers and policies. The carrying amount of financial assets recorded in the financial statements, which is
net of impairment losses, represents the Group\u2019s maximum exposure to credit risk.
Amounts due are mainly financed by large reputable financing institutions, which have high credit worthiness.
Where the group is exposed to potential credit loss an impairment allowance is made for individual exposures
as well as for an Expected Credit Loss (ECL) component established using rates reflecting historic information
for payor groups, and forward looking information. The total provision as at 27 December 2025 is \u00a31.0m
(28 December 2024: \u00a30.9m).
Trade and other receivables exclude prepayments and accrued income of \u00a315.3m (28 December 2024: \u00a315.3m).
Trade and other payables
Trade and other payables excludes taxation, social security, accruals and deferred income amounts totalling
\u00a389.9m (28 December 2024: \u00a374.6m).
Fair value of financial instruments Financial assets/liabilities designated at fair value through profit and loss comprise foreign currency forward contracts, where the fair value of the contracts is measured by comparing the contract value using quoted forward exchange rates with the value using the exchange rates prevailing at the period end, and a call option for the remaining 49% holding in Gas Fast Limited where the fair value is measured by comparing the enterprise value of the business to the cost of exercising the option. The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable: \u2013 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities \u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices) \u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs) There were no transfers between levels during the period. There are no non-recurring fair value measurements. The Group held financial instruments measured at fair value as shown in the table below:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Included in assets
Level 2
Foreign currency forward contracts at fair value through profit and loss
\u2013
0.9
Level 3
Call option at fair value through profit and loss
3.0
\u2013
Included in liabilities
Level 2
Foreign currency forward contracts at fair value through profit and loss
(1.3)
\u2013
1.7
0.9
Market risk Market risk is the risk that changes in market prices, such as interest rates, will affect the Group\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. Interest rate risk The Group is exposed to interest rate risk arising from fluctuations in market rates. This affects future cash flows from money market investments and the cost of variable rate borrowings such as the Revolving Credit Facility which is currently undrawn. The Group did not have any loans or overdrafts facility during the 52 weeks ended 27 December 2025 (52 weeks ended 28 December 2024: none).
Currency forward contracts
The Group acquires goods for sale from overseas, which when not denominated in sterling are paid for
principally in US dollars and Euros. The Group has entered into forward foreign exchange contracts (all of which
are less than eighteen months in duration) to buy US dollars and Euros to manage the exchange rate risk arising
from these anticipated future purchases. At the balance sheet date the total notional value of contracts to which
the Group was committed was US$58.6m and EUR 7.9m (28 December 2024: US$64.3m and EUR nil). The fair
value of these derivatives was a \u00a3nil asset and a \u00a31.3m liability (28 December 2024: \u00a30.9m asset and a \u00a3nil
liability). These contracts are not designated as cash flow hedges, however given fair value accounting for these
forward contracts does not reflect the intended economic outcome (i.e. to provide a level of certainty over future
foreign currency purchases), the net unrealised gains and losses on remeasurement of the contracts are treated
as adjusting items in the Group\u2019s adjusted profit measures (see notes 2 and 9 for further detail).
Call option
The fair value of the call option over the non-controlling interest in Gast Fast Limited is determined using
valuation techniques because it is not traded in an active market. The Group uses its judgement to select an
appropriate valuation method and makes assumptions that are mainly based on market conditions existing at
the end of each reporting period.The valuation requires the estimation of numerous unobservable inputs,
primarily future financial performance of the entity (revenue growth ranging from 15% to 45%), adjustments for
the reduced marketability of a non-controlling interest (ranging from 10% to 17.5%) and an appropriate discount
rate to be applied (pre-tax WACC of 24.2%). It is not expected for reasonably possible changes in these
assumptions to materially affect the reported fair value. During the 52 weeks ended 27 December 2025, a total
gain of \u00a33.0m (28 December 2024: \u00a3nil) was recognised in finance income and as a non-current asset.
Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The
Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity
to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable
losses or risking damage to the Group\u2019s reputation.
Liquidity analysis
The following table details the Group\u2019s liquidity analysis for its other financial liabilities. The Group\u2019s contractual
maturities, as at the balance sheet date, of financial liabilities are as follows:
Maturity analysis
Between one
Carrying Contractual Within one and five More than
(\u00a3m) Note amount cash flows year years five years
At 27 December 2025
Trade and other payables
at amortised cost
25
147.6
147.6
147.6
\u2013
\u2013
Lease liabilities
14
719.8
892.2
115.2
388.4
388.6
867.4
1,039.8
262.8
388.4
388.6
Maturity analysis
Between
Carrying Contractual Within one one and five More than
(\u00a3m) Note amount cash flows year years five years
At 28 December 2024
Trade and other payables
at amortised cost
25
138.1
138.1
138.1
\u2013
\u2013
Lease liabilities
14
705.3
868.2
112.3
396.5
359.4
843.4
1,006.3
250.4
396.5
359.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-398": { "value": "22 Borrowings Bank borrowings In March 2024, the Group completed an \u201cAmend and Extend\u201d of its revolving credit facility (RCF), extending the maturity to March 2028 with an option for a further year. In the period ended 27 December 2025, a further one year extension was obtained, extending the expiry date to March 2029. The group does not have an overdraft facility as at 27 December 2025 (28 December 2024: no facility). At the period end, the Group had the following borrowing facility available:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Undrawn facilities:
Committed revolving credit facility (expires March 2029)
80.0
80.0
80.0
80.0
Lease liabilities Obligations under finance leases The Group has entered into lease agreements in respect of retail stores, warehouses, vehicles and office equipment. The leases are secured on floating charges over both the present and future assets of material subsidiaries in the Group. Leases, with a present value liability of \u00a3719.8m (28 December 2024: \u00a3705.3m), expire in various years to 2046 and carry an average incremental borrowing rate of 4.4% (28 December 2024: 4.4%). Rent in respect of retail stores leases are reviewed by the landlord periodically, subject to assorted floors and caps. Except for these reviews, cash flows and charges are expected to remain in line with the current period. The discount rates used are calculated at inception of the lease on a lease by lease basis, and are based on estimates of incremental borrowing rates. Changes in lease liabilities arising from financing activities are detailed in note 23. In the period, the Group recognised charges of \u00a31.1m (28 December 2024: \u00a31.1m) of lease expenses relating to short term and low value leases for which the exemption under IFRS 16 has been taken. See note 14 for more detail on the depreciation of the Right-of-use (ROU) assets and note 7 for more detail on the interest expense relating to leases. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-383": { "value": "22 Borrowings Bank borrowings In March 2024, the Group completed an \u201cAmend and Extend\u201d of its revolving credit facility (RCF), extending the maturity to March 2028 with an option for a further year. In the period ended 27 December 2025, a further one year extension was obtained, extending the expiry date to March 2029. The group does not have an overdraft facility as at 27 December 2025 (28 December 2024: no facility). At the period end, the Group had the following borrowing facility available:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Undrawn facilities:
Committed revolving credit facility (expires March 2029)
80.0
80.0
80.0
80.0
Lease liabilities Obligations under finance leases The Group has entered into lease agreements in respect of retail stores, warehouses, vehicles and office equipment. The leases are secured on floating charges over both the present and future assets of material subsidiaries in the Group. Leases, with a present value liability of \u00a3719.8m (28 December 2024: \u00a3705.3m), expire in various years to 2046 and carry an average incremental borrowing rate of 4.4% (28 December 2024: 4.4%). Rent in respect of retail stores leases are reviewed by the landlord periodically, subject to assorted floors and caps. Except for these reviews, cash flows and charges are expected to remain in line with the current period. The discount rates used are calculated at inception of the lease on a lease by lease basis, and are based on estimates of incremental borrowing rates. Changes in lease liabilities arising from financing activities are detailed in note 23. In the period, the Group recognised charges of \u00a31.1m (28 December 2024: \u00a31.1m) of lease expenses relating to short term and low value leases for which the exemption under IFRS 16 has been taken. See note 14 for more detail on the depreciation of the Right-of-use (ROU) assets and note 7 for more detail on the interest expense relating to leases. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-354": { "value": "
23 Movement in lease liability net debt
Cash and cash
(\u00a3m)
equivalents
Lease liability
Total
At 30 December 2023
97.5
(675.8)
(578.3)
Decrease in cash and cash equivalents
(11.2)
\u2013
(11.2)
Repayment of lease liabilities
\u2013
114.4
114.4
Discount unwind on lease liability
\u2013
(30.1)
(30.1)
Lease additions
\u2013
(60.7)
(60.7)
Lease modifications
\u2013
(53.0)
(53.0)
Lease incentives received
\u2013
(0.9)
(0.9)
Lease terminations
\u2013
0.8
0.8
At 28 December 2024
86.3
(705.3)
(619.0)
Increase in cash and cash equivalents
5.4
\u2013
5.4
Repayment of lease liabilities
\u2013
114.0
114.0
Discount unwind on lease liability
\u2013
(31.1)
(31.1)
Lease additions
\u2013
(17.6)
(17.6)
Lease modifications
\u2013
(78.3)
(78.3)
Lease incentives received
\u2013
(1.9)
(1.9)
Lease terminations
\u2013
0.4
0.4
At 27 December 2025
91.7
(719.8)
(628.1)
As at As at
Balances 27 December 28 December
(\u00a3m) 2025 2024
Cash and cash equivalents
91.7
86.3
Current lease liabilities
(84.3)
(80.4)
Non-current lease liabilities
(635.5)
(624.9)
Lease liability net debt
(628.1)
(619.0)
Of the movements in the lease liability balance above, only the repayment of lease liabilities and lease incentives
received are cash-impacting.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-355": { "value": "
24 Provisions
(\u00a3m)
Property
Warranty
Insurance
Total
At 30 December 2023
3.8
3.3
5.5
12.6
Charge to income statement
0.2
3.5
1.2
4.9
Utilisation
(2.1)
(2.5)
(1.8)
(6.4)
At 28 December 2024
1.9
4.3
4.9
11.1
Charge to income statement
0.5
3.0
1.0
4.5
Utilisation
\u2013
(2.6)
(1.8)
(4.4)
At 27 December 2025
2.4
4.7
4.1
11.2
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Current
9.4
9.7
Non-current
1.8
1.4
11.2
11.1
Property provisions primarily arise where there is an expectation that a store will close and where there is an
obligation to fulfil rate, insurance and dilapidation payments under the lease contract, or if there is other
evidence that enables a dilapidation provision to be reliably estimated. The provision will be revised in future
periods should the lease be terminated early or a subtenant found.
The Group provides a guarantee on showroom kitchen cabinets, doors, drawer fronts and showroom bathroom
products. The Group provides for future estimated costs of providing this guarantee on kitchens and bathrooms
that have been previously sold. The provision includes future costs for installation workmanship as well as
product cost.
The insurance claims provision represents management\u2019s best estimate of the value of outstanding claims
against the Group, using an expected value approach in line with IAS 37. There are no individually material
claims and the potential settlement dates and amounts vary widely based on the portfolio of insurance claims
provided for. The Group has no material self insured claims.
All provisions as at 27 December 2025 other than \u00a31.8m of property provisions (28 December 2024: \u00a31.4m of
property provisions) are considered to be current and expected to be utilised within the next twelve months.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-384": { "value": "24 Provisions
(\u00a3m)
Property
Warranty
Insurance
Total
At 30 December 2023
3.8
3.3
5.5
12.6
Charge to income statement
0.2
3.5
1.2
4.9
Utilisation
(2.1)
(2.5)
(1.8)
(6.4)
At 28 December 2024
1.9
4.3
4.9
11.1
Charge to income statement
0.5
3.0
1.0
4.5
Utilisation
\u2013
(2.6)
(1.8)
(4.4)
At 27 December 2025
2.4
4.7
4.1
11.2
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Current
9.4
9.7
Non-current
1.8
1.4
11.2
11.1
Property provisions primarily arise where there is an expectation that a store will close and where there is an obligation to fulfil rate, insurance and dilapidation payments under the lease contract, or if there is other evidence that enables a dilapidation provision to be reliably estimated. The provision will be revised in future periods should the lease be terminated early or a subtenant found. The Group provides a guarantee on showroom kitchen cabinets, doors, drawer fronts and showroom bathroom products. The Group provides for future estimated costs of providing this guarantee on kitchens and bathrooms that have been previously sold. The provision includes future costs for installation workmanship as well as product cost. The insurance claims provision represents management\u2019s best estimate of the value of outstanding claims against the Group, using an expected value approach in line with IAS 37. There are no individually material claims and the potential settlement dates and amounts vary widely based on the portfolio of insurance claims provided for. The Group has no material self insured claims. All provisions as at 27 December 2025 other than \u00a31.8m of property provisions (28 December 2024: \u00a31.4m of property provisions) are considered to be current and expected to be utilised within the next twelve months.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-356": { "value": "
25 Trade and other payables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade payables
125.9
120.7
Social security and other taxes
17.7
16.9
Other payables
21.7
17.3
Deferred income
33.8
26.2
Accrued expenses
38.4
31.5
Trade and other payables
237.5
212.6
The trade payables balance includes a deduction for amounts due from suppliers to the Group for associated
rebates of \u00a319.7m (28 December 2024: \u00a38.7m) when there is a legally binding arrangement in place and it is
management\u2019s intention to settle net.
The deferred income balance represents amounts received directly from customers for goods and services
where the Group has not fulfilled its performance obligations, including upfront deposits received. Under the
terms of the relevant contracts, sales made where third parties have provided finance to the customer (not
including the upfront deposit) do not give rise to deferred income. Of the total deferred income balance, \u00a330.8m
(28 December 2024: \u00a322.6m) related to Design & Installation deferred income.
Revenue of \u00a345.2m was recognised in the 52 weeks ended 27 December 2025 which related to amounts
included in deferred income and other receivables balances (note 19) at the beginning of the period (52 weeks
ended 28 December 2024: \u00a354.4m). Of this revenue, \u00a322.3m related to the deferred income balance at the
beginning of the period (52 weeks ended 28 December 2024: \u00a332.0m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-410": { "value": "25 Trade and other payables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade payables
125.9
120.7
Social security and other taxes
17.7
16.9
Other payables
21.7
17.3
Deferred income
33.8
26.2
Accrued expenses
38.4
31.5
Trade and other payables
237.5
212.6
The trade payables balance includes a deduction for amounts due from suppliers to the Group for associated rebates of \u00a319.7m (28 December 2024: \u00a38.7m) when there is a legally binding arrangement in place and it is management\u2019s intention to settle net. The deferred income balance represents amounts received directly from customers for goods and services where the Group has not fulfilled its performance obligations, including upfront deposits received. Under the terms of the relevant contracts, sales made where third parties have provided finance to the customer (not including the upfront deposit) do not give rise to deferred income. Of the total deferred income balance, \u00a330.8m (28 December 2024: \u00a322.6m) related to Design & Installation deferred income. Revenue of \u00a345.2m was recognised in the 52 weeks ended 27 December 2025 which related to amounts included in deferred income and other receivables balances (note 19) at the beginning of the period (52 weeks ended 28 December 2024: \u00a354.4m). Of this revenue, \u00a322.3m related to the deferred income balance at the beginning of the period (52 weeks ended 28 December 2024: \u00a332.0m).", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-399": { "value": "25 Trade and other payables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade payables
125.9
120.7
Social security and other taxes
17.7
16.9
Other payables
21.7
17.3
Deferred income
33.8
26.2
Accrued expenses
38.4
31.5
Trade and other payables
237.5
212.6
The trade payables balance includes a deduction for amounts due from suppliers to the Group for associated rebates of \u00a319.7m (28 December 2024: \u00a38.7m) when there is a legally binding arrangement in place and it is management\u2019s intention to settle net. The deferred income balance represents amounts received directly from customers for goods and services where the Group has not fulfilled its performance obligations, including upfront deposits received. Under the terms of the relevant contracts, sales made where third parties have provided finance to the customer (not including the upfront deposit) do not give rise to deferred income. Of the total deferred income balance, \u00a330.8m (28 December 2024: \u00a322.6m) related to Design & Installation deferred income. Revenue of \u00a345.2m was recognised in the 52 weeks ended 27 December 2025 which related to amounts included in deferred income and other receivables balances (note 19) at the beginning of the period (52 weeks ended 28 December 2024: \u00a354.4m). Of this revenue, \u00a322.3m related to the deferred income balance at the beginning of the period (52 weeks ended 28 December 2024: \u00a332.0m).", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-385": { "value": "25 Trade and other payables
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Trade payables
125.9
120.7
Social security and other taxes
17.7
16.9
Other payables
21.7
17.3
Deferred income
33.8
26.2
Accrued expenses
38.4
31.5
Trade and other payables
237.5
212.6
The trade payables balance includes a deduction for amounts due from suppliers to the Group for associated rebates of \u00a319.7m (28 December 2024: \u00a38.7m) when there is a legally binding arrangement in place and it is management\u2019s intention to settle net. The deferred income balance represents amounts received directly from customers for goods and services where the Group has not fulfilled its performance obligations, including upfront deposits received. Under the terms of the relevant contracts, sales made where third parties have provided finance to the customer (not including the upfront deposit) do not give rise to deferred income. Of the total deferred income balance, \u00a330.8m (28 December 2024: \u00a322.6m) related to Design & Installation deferred income. Revenue of \u00a345.2m was recognised in the 52 weeks ended 27 December 2025 which related to amounts included in deferred income and other receivables balances (note 19) at the beginning of the period (52 weeks ended 28 December 2024: \u00a354.4m). Of this revenue, \u00a322.3m related to the deferred income balance at the beginning of the period (52 weeks ended 28 December 2024: \u00a332.0m).", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-357": { "value": "
26 Dividends
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Amounts recognised in the financial statements as distributions to equity
shareholders are shown below:
\u2013 final dividend for the 52 weeks ended 28 December 2024 of 7.3 pence (52
weeks ended 30 December 2023: 7.3 pence)
16.7
17.6
\u2013 interim dividend for the 52 weeks ended 27 December 2025 of 3.6 pence (52
weeks ended 28 December 2024: 3.6 pence)
8.1
8.5
Total dividend
24.8
26.1
A final dividend of 7 .3p is proposed in respect of the 52 weeks ending 27 December 2025. It will be paid on
5 June 2026 to shareholders on the register at the close of business on 24 April 2026 (the Record Date). The
shares will be quoted ex-dividend on 23 April 2026.
Shareholders may elect to reinvest their dividend in the Dividend Reinvestment Plan (DRIP). The last date for
receipt of DRIP elections and revocations will be 14 May 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-386": { "value": "0.073", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-358": { "value": "27 Share-based payments The Group operates a number of share-based payment schemes for Executive Directors and other employees, all of which are classified as equity settled. The Group has no legal or constructive obligation to repurchase or settle any of the options in cash. The total cost in respect of LTIPs, Transition Awards, SAYE and Free Shares recognised in the income statement was \u00a35.6m in the period ended 27 December 2025 (period ended 28 December 2024: \u00a34.0m). Of this charge, \u00a34.4m (period ended 28 December 2024: \u00a33.6m), which is the amount net of Employer\u2019s National Insurance, is credited to equity. Employer\u2019s National Insurance (including Apprenticeship Levy) is being accrued on the balance sheet, where applicable, at the rate of 15.5%, which management expects to be the prevailing rate at the time the options are exercised, based on the share price at the reporting date. The total National Insurance charge for the period was \u00a31.2m (period ended 28 December 2024: \u00a30.4m). The total cost between each of the relevant schemes, together with the number of options outstanding are shown below:
52 weeks ended 52 weeks ended
27 December 28 December
Charge (\u00a3m) 2025 2024
Long Term Incentive Plan
4.7
2.8
Save As You Earn (SAYE)
0.8
0.9
Free Shares
0.1
0.3
5.6
4.0
As at As at
27 December 28 December
Number of options and free shares (thousands) 2025 2024
Long Term Incentive Plan
9,343
8,254
Save As You Earn (SAYE)
8,811
11,080
Free Shares
411
348
18,565
19,682
A summary of the main features of the schemes are detailed below:
Scheme Grant Vesting Number of Vesting Scheme
Scheme name date date options granted
criteria
Eligibility
type
RSP
31/03/2023
31/03/2025
827,045
A
31/03/2023
31/03/2024
711,237
performance
underpin
LTIP 25
30/09/2025
30/09/2028
79,070
28/03/2025
27/03/2028
3,013,687
 EPS (60%),
LTIP 24
30/09/2024
30/09/2027
23,902
TSR (30%)
27/03/2024
27/03/2027
3,366,432
& ESG (10%) Executive
Long Term targets Directors,
Incentive
LTIP 23
25/09/2023
25/09/2026
29,735
designated
Plan (LTIP) senior Nil-cost
31/03/2023
31/03/2026
3,448,605
managers options
LTIP 22
28/09/2022
28/09/2025
666,396
 EPS (70%)
31/03/2022
31/03/2025
1,998,542
& TSR (30%)
targets
LTIP 21
28/09/2021
28/09/2024
1,795,194
Replacement
28/03/2025
24/06/2025
246,163
n/a
Awards & 03/07/2026
& 07/07/2027
Buyout
28/09/2022
09/09/2023
148,114
n/a
CFO
Award & 25/03/2024
SAYE 25
14/10/2025
14/10/2028
4,708,175
Save As
SAYE 24
15/10/2024
15/10/2027
2,243,974
Continued All SAYE
You Earn
SAYE 23
17/10/2023
17/10/2026
2,543,884
saving for Employees options
(SAYE) 3 years
SAYE 22
18/10/2022
18/10/2025
9,475,353
SAYE 21
19/10/2021
19/10/2024
5,433,646
Free Shares
28/06/2021
28/06/2024
881,940
n/a
All
Nil-cost
Employees shares
In addition to the scheme specific vesting criteria detailed above, for each scheme vesting is ordinarily dependent on the continued employment of recipients. Further features of the individual schemes are detailed below: Long Term Incentive Plan The Long Term Incentive Plan (LTIP) 21, LTIP 22, LTIP 23, LTIP 24 and LTIP 25 awards are made at the discretion of the Remuneration Committee, with vesting subject to market and non-market performance criteria measured over a period of three years. The criteria are set by the Remuneration Committee, and are aligned with the long-term strategic objectives of the Group and shareholder value creation. The Buy-out award is in respect of an award granted to Mark George on his appointment as CFO, following the decisions to buy-out some of the incentive awards forfeited by him from his previous employer, The Gym Group Plc. Replacement awards are one-off awards to new members of Executive Directors or designated senior managers. These awards were granted as compensation for the forfeiture of incentive awards from previous employers upon joining the Group. These awards vest on specific vesting dates that mirror the original timelines of the forfeited awards, subject to continued service. The Group granted RSP options with the intention of replacing the majority of the existing LTIP 21 and LTIP 22 awards. The charge in the period for LTIP includes an accrual of \u00a30.8m (period ended 28 December 2024: \u00a30.7m) for the Group\u2019s Deferred Annual Bonus plan in respect of the bonus payable in shares for the period ended 27 December 2025. Save As You Earn The Save As You Earn (SAYE) scheme is open to all Wickes Group employees. A maximum monthly contribution of \u00a3500 is permitted under the option scheme. Upon vesting, the options will remain exercisable for 6 months. Free Shares Free Shares are free Wickes Shares which were allocated to all full-time and part-time employees at demerger and had a market value of \u00a3300 or \u00a3150 respectively. Fair value of options The Black-Scholes option-pricing model is used to calculate the fair value of the options and the amount to be expensed. Judgements including the probability of the performance conditions being achieved, the number of employees who may leave the Group or the scheme, and dividend yields, are included in the fair value calculations. The following information is relevant to the determination of the fair value of the awards granted under the schemes for the 52 weeks ended 27 December 2025 and the 52 weeks ended 28 December 2024. The information is expressed as weighted averages where relevant:
52 weeks ended 27 December 2025
LTIP (nil cost
The Group and Company:
options)
SAYE
Share price at grant date (pence)
175.7
219.0
Option exercise price (pence)
\u2013
160.0
Option life (years)
2.8
3.0
Expected dividends as a dividend yield (%)
n/a
3.6%
Risk free interest rate (%)
n/a
3.8%
Volatility (%)
n/a
31.1%
52 weeks ended 28 December 2024
LTIP (nil cost
The Group and Company:
options)
SAYE
Share price at grant date (pence)
150.4
163.6
Option exercise price (pence)
\u2013
140.0
Option life (years)
2.3
3.0
Expected dividends as a dividend yield (%)
n/a
7.2%
Risk free interest rate (%)
n/a
3.9%
Volatility (%)
n/a
31.0%
As the LTIP awards have a nil exercise price the risk free rate of return, the dividend yield and the volatility do not have any effect on the estimated fair value. If the LTIP options remain unexercised after a period of 10 years from the date of grant, these options expire. SAYE options expire 3\u00bd years after the date of grant. The risk-free interest rate of return is the yield on zero-coupon UK Government bonds on a term consistent with the vesting period. Dividends used are based on actual dividends where data is known and future dividends using the Group\u2019s five-year plan. Volatility is based on historic share prices over the period since the demerger date, when Wickes Group Plc joined the London Stock Exchange. Option life used in the model has been based on the option vesting period.
Income statement charge, shares granted and outstanding at the end of the period
A description of the share schemes operated by the Group is contained in the remuneration report on pages
102 to 113. The number of share options granted and the estimated fair values of the shares under option
granted under the Group\u2019s share schemes in both 2025 and 2024 are shown below:
Fair value for the
Exercise price Share options Group
Grant date \u2013 scheme
Expiry date
(pence) (thousands) (\u00a3m)
14/10/2025\u2013 Save As You Earn plan
14/04/2029
160.0
4,708
2.2
30/09/2025 \u2013 Long Term Incentive Plan
30/09/2035
\u2013
79
0.1
28/03/2025 \u2013 Long Term Incentive Plan
27/03/2035
\u2013
3,014
2.6
28/03/2025 \u2013 Long Term Incentive Plan Buy-Out
28/03/2035
\u2013
246
0.4
15/10/2024 \u2013 Save As you Earn Plan
15/04/2028
140.0
2,244
0.3
30/09/2024 \u2013 Long Term Incentive Plan
30/09/2034
\u2013
24
\u2013
27/03/2024 \u2013 Long Term Incentive Plan
27/03/2034
\u2013
3,366
2.5
The aggregate number of share awards outstanding for the Group and their weighted average exercise price is
shown below:
52 weeks ended 27 December 2025
52 weeks ended 28 December 2024
Weighted Weighted
average Number of average Number of
exercise Number of nil price exercise Number of nil price
price options options price options options
(pence) (thousands) (thousands) (pence) (thousands) (thousands)
Outstanding at the beginning
of the period
67
11,080
8,602
70
10,769
6,948
Granted during the period
94
4,708
3,339
56
2,244
3,390
Exercised during the period
89
(5,355)
(817)
9
(99)
(967)
Forfeited during the period
48
(255)
(366)
104
(1,834)
(320)
Cancelled during the period
94
(1,367)
(1,004)
\u2013
\u2013
(449)
Outstanding at the end of the period
67
8,811
9,754
67
11,080
8,602
Exercisable at the end of the period
104
951
411
\u2013
708
348
Details of the share options outstanding at 27 December 2025 are shown below:
52 weeks ended 52 weeks ended
27 December 2025 28 December 2024
SAYE and SAYE and
LTIP
Free Shares
LTIP
Free Shares
Range of exercise price (pence)
\u2013
nil\u2013160
\u2013
nil\u2013196
Weighted average exercise price (pence)
\u2013
138
\u2013
115
Number of shares (thousands)
9,343
9,109
8,254
11,428
Weighted average expected remaining life (years)
1.3
1.9
1.5
1.3
Weighted average contractual remaining life (years)
8.3
2.4
8.6
1.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-359": { "value": "
28 Commitments
Consignment stock
At 27 December 2025, the Group held consignment stock on sale or return of \u00a37.2m (28 December 2024:
\u00a35.6m). The Group is only required to pay for the goods it chooses to sell and therefore this stock is not
recognised as an asset.
Capital commitments
Capital commitments comprise amounts payable under capital contracts which are duly authorised and in
progress at the consolidated balance sheet date. They include the full cost of goods and services to be provided
under the contracts through to completion.
Capital commitments at the end of the period are shown below:
As at As at
27 December 30 December
(\u00a3m) 2025 2024
Committed to but not provided for in the accounts
9.0
9.3
Included in the \u00a39.0m commitment as at 27 December 2025 is \u00a30.5m of capital commitments contractually
agreed with external parties (28 December 2024: \u00a30.5m). The Group has rights within its contracts to terminate
at short notice and, therefore, cancellation payments are minimal.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-387": { "value": "28 Commitments Consignment stock At 27 December 2025, the Group held consignment stock on sale or return of \u00a37.2m (28 December 2024: \u00a35.6m). The Group is only required to pay for the goods it chooses to sell and therefore this stock is not recognised as an asset. Capital commitments Capital commitments comprise amounts payable under capital contracts which are duly authorised and in progress at the consolidated balance sheet date. They include the full cost of goods and services to be provided under the contracts through to completion. Capital commitments at the end of the period are shown below:
As at As at
27 December 30 December
(\u00a3m) 2025 2024
Committed to but not provided for in the accounts
9.0
9.3
Included in the \u00a39.0m commitment as at 27 December 2025 is \u00a30.5m of capital commitments contractually agreed with external parties (28 December 2024: \u00a30.5m). The Group has rights within its contracts to terminate at short notice and, therefore, cancellation payments are minimal.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-411": { "value": "29 Financial instruments The carrying value of categories of financial instruments
As at As at
27 December 28 December
(\u00a3m)
Note
2025 2024
Financial assets:
Cash and cash equivalents
20
91.7
86.3
Trade and other receivables at amortised cost
19
48.4
55.3
140.1
141.6
Financial Liabilities
Trade and other payables at amortised cost
25
147.6
138.1
Lease liabilities
23
719.8
705.3
867.4
843.4
Credit risk and impairment Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Group\u2019s receivables from customers and financing institutions. Trade and other receivables The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The Group\u2019s exposure to credit risk from trade receivables is considered to be low because of the nature of its customers and policies. The carrying amount of financial assets recorded in the financial statements, which is net of impairment losses, represents the Group\u2019s maximum exposure to credit risk. Amounts due are mainly financed by large reputable financing institutions, which have high credit worthiness. Where the group is exposed to potential credit loss an impairment allowance is made for individual exposures as well as for an Expected Credit Loss (ECL) component established using rates reflecting historic information for payor groups, and forward looking information. The total provision as at 27 December 2025 is \u00a31.0m (28 December 2024: \u00a30.9m). Trade and other receivables exclude prepayments and accrued income of \u00a315.3m (28 December 2024: \u00a315.3m). Trade and other payables Trade and other payables excludes taxation, social security, accruals and deferred income amounts totalling \u00a389.9m (28 December 2024: \u00a374.6m). Fair value of financial instruments Financial assets/liabilities designated at fair value through profit and loss comprise foreign currency forward contracts, where the fair value of the contracts is measured by comparing the contract value using quoted forward exchange rates with the value using the exchange rates prevailing at the period end, and a call option for the remaining 49% holding in Gas Fast Limited where the fair value is measured by comparing the enterprise value of the business to the cost of exercising the option. The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable: \u2013 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities \u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices) \u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs) There were no transfers between levels during the period. There are no non-recurring fair value measurements. The Group held financial instruments measured at fair value as shown in the table below:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Included in assets
Level 2
Foreign currency forward contracts at fair value through profit and loss
\u2013
0.9
Level 3
Call option at fair value through profit and loss
3.0
\u2013
Included in liabilities
Level 2
Foreign currency forward contracts at fair value through profit and loss
(1.3)
\u2013
1.7
0.9
Market risk Market risk is the risk that changes in market prices, such as interest rates, will affect the Group\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. Interest rate risk The Group is exposed to interest rate risk arising from fluctuations in market rates. This affects future cash flows from money market investments and the cost of variable rate borrowings such as the Revolving Credit Facility which is currently undrawn. The Group did not have any loans or overdrafts facility during the 52 weeks ended 27 December 2025 (52 weeks ended 28 December 2024: none). Currency forward contracts The Group acquires goods for sale from overseas, which when not denominated in sterling are paid for principally in US dollars and Euros. The Group has entered into forward foreign exchange contracts (all of which are less than eighteen months in duration) to buy US dollars and Euros to manage the exchange rate risk arising from these anticipated future purchases. At the balance sheet date the total notional value of contracts to which the Group was committed was US$58.6m and EUR 7.9m (28 December 2024: US$64.3m and EUR nil). The fair value of these derivatives was a \u00a3nil asset and a \u00a31.3m liability (28 December 2024: \u00a30.9m asset and a \u00a3nil liability). These contracts are not designated as cash flow hedges, however given fair value accounting for these forward contracts does not reflect the intended economic outcome (i.e. to provide a level of certainty over future foreign currency purchases), the net unrealised gains and losses on remeasurement of the contracts are treated as adjusting items in the Group\u2019s adjusted profit measures (see notes 2 and 9 for further detail). Call option The fair value of the call option over the non-controlling interest in Gast Fast Limited is determined using valuation techniques because it is not traded in an active market. The Group uses its judgement to select an appropriate valuation method and makes assumptions that are mainly based on market conditions existing at the end of each reporting period.The valuation requires the estimation of numerous unobservable inputs, primarily future financial performance of the entity (revenue growth ranging from 15% to 45%), adjustments for the reduced marketability of a non-controlling interest (ranging from 10% to 17.5%) and an appropriate discount rate to be applied (pre-tax WACC of 24.2%). It is not expected for reasonably possible changes in these assumptions to materially affect the reported fair value. During the 52 weeks ended 27 December 2025, a total gain of \u00a33.0m (28 December 2024: \u00a3nil) was recognised in finance income and as a non-current asset. Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. Liquidity analysis The following table details the Group\u2019s liquidity analysis for its other financial liabilities. The Group\u2019s contractual maturities, as at the balance sheet date, of financial liabilities are as follows:
Maturity analysis
Between one
Carrying Contractual Within one and five More than
(\u00a3m) Note amount cash flows year years five years
At 27 December 2025
Trade and other payables
at amortised cost
25
147.6
147.6
147.6
\u2013
\u2013
Lease liabilities
14
719.8
892.2
115.2
388.4
388.6
867.4
1,039.8
262.8
388.4
388.6
Maturity analysis
Between
Carrying Contractual Within one one and five More than
(\u00a3m) Note amount cash flows year years five years
At 28 December 2024
Trade and other payables
at amortised cost
25
138.1
138.1
138.1
\u2013
\u2013
Lease liabilities
14
705.3
868.2
112.3
396.5
359.4
843.4
1,006.3
250.4
396.5
359.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-400": { "value": "Credit risk and impairment Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Group\u2019s receivables from customers and financing institutions. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-413": { "value": "Fair value of financial instruments Financial assets/liabilities designated at fair value through profit and loss comprise foreign currency forward contracts, where the fair value of the contracts is measured by comparing the contract value using quoted forward exchange rates with the value using the exchange rates prevailing at the period end, and a call option for the remaining 49% holding in Gas Fast Limited where the fair value is measured by comparing the enterprise value of the business to the cost of exercising the option. The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable: \u2013 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities \u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices) \u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs) There were no transfers between levels during the period. There are no non-recurring fair value measurements. The Group held financial instruments measured at fair value as shown in the table below:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Included in assets
Level 2
Foreign currency forward contracts at fair value through profit and loss
\u2013
0.9
Level 3
Call option at fair value through profit and loss
3.0
\u2013
Included in liabilities
Level 2
Foreign currency forward contracts at fair value through profit and loss
(1.3)
\u2013
1.7
0.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-388": { "value": "Fair value of financial instruments Financial assets/liabilities designated at fair value through profit and loss comprise foreign currency forward contracts, where the fair value of the contracts is measured by comparing the contract value using quoted forward exchange rates with the value using the exchange rates prevailing at the period end, and a call option for the remaining 49% holding in Gas Fast Limited where the fair value is measured by comparing the enterprise value of the business to the cost of exercising the option. The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into levels 1 to 3 based on the degree to which the fair value is observable: \u2013 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities \u2013 Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices) \u2013 Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs) There were no transfers between levels during the period. There are no non-recurring fair value measurements. The Group held financial instruments measured at fair value as shown in the table below:
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Included in assets
Level 2
Foreign currency forward contracts at fair value through profit and loss
\u2013
0.9
Level 3
Call option at fair value through profit and loss
3.0
\u2013
Included in liabilities
Level 2
Foreign currency forward contracts at fair value through profit and loss
(1.3)
\u2013
1.7
0.9
Currency forward contracts The Group acquires goods for sale from overseas, which when not denominated in sterling are paid for principally in US dollars and Euros. The Group has entered into forward foreign exchange contracts (all of which are less than eighteen months in duration) to buy US dollars and Euros to manage the exchange rate risk arising from these anticipated future purchases. At the balance sheet date the total notional value of contracts to which the Group was committed was US$58.6m and EUR 7.9m (28 December 2024: US$64.3m and EUR nil). The fair value of these derivatives was a \u00a3nil asset and a \u00a31.3m liability (28 December 2024: \u00a30.9m asset and a \u00a3nil liability). These contracts are not designated as cash flow hedges, however given fair value accounting for these forward contracts does not reflect the intended economic outcome (i.e. to provide a level of certainty over future foreign currency purchases), the net unrealised gains and losses on remeasurement of the contracts are treated as adjusting items in the Group\u2019s adjusted profit measures (see notes 2 and 9 for further detail). Call option The fair value of the call option over the non-controlling interest in Gast Fast Limited is determined using valuation techniques because it is not traded in an active market. The Group uses its judgement to select an appropriate valuation method and makes assumptions that are mainly based on market conditions existing at the end of each reporting period.The valuation requires the estimation of numerous unobservable inputs, primarily future financial performance of the entity (revenue growth ranging from 15% to 45%), adjustments for the reduced marketability of a non-controlling interest (ranging from 10% to 17.5%) and an appropriate discount rate to be applied (pre-tax WACC of 24.2%). It is not expected for reasonably possible changes in these assumptions to materially affect the reported fair value. During the 52 weeks ended 27 December 2025, a total gain of \u00a33.0m (28 December 2024: \u00a3nil) was recognised in finance income and as a non-current asset. Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. Liquidity analysis The following table details the Group\u2019s liquidity analysis for its other financial liabilities. The Group\u2019s contractual maturities, as at the balance sheet date, of financial liabilities are as follows:
Maturity analysis
Between one
Carrying Contractual Within one and five More than
(\u00a3m) Note amount cash flows year years five years
At 27 December 2025
Trade and other payables
at amortised cost
25
147.6
147.6
147.6
\u2013
\u2013
Lease liabilities
14
719.8
892.2
115.2
388.4
388.6
867.4
1,039.8
262.8
388.4
388.6
Maturity analysis
Between
Carrying Contractual Within one one and five More than
(\u00a3m) Note amount cash flows year years five years
At 28 December 2024
Trade and other payables
at amortised cost
25
138.1
138.1
138.1
\u2013
\u2013
Lease liabilities
14
705.3
868.2
112.3
396.5
359.4
843.4
1,006.3
250.4
396.5
359.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-401": { "value": "
Market risk
Market risk is the risk that changes in market prices, such as interest rates, will affect the Group\u2019s income or the
value of its holdings of financial instruments. The objective of market risk management is to manage and
control market risk exposures within acceptable parameters, while optimising the return on risk.
Interest rate risk
The Group is exposed to interest rate risk arising from fluctuations in market rates. This affects future cash
flows from money market investments and the cost of variable rate borrowings such as the Revolving Credit
Facility which is currently undrawn. The Group did not have any loans or overdrafts facility during the 52 weeks
ended 27 December 2025 (52 weeks ended 28 December 2024: none).
Currency forward contracts The Group acquires goods for sale from overseas, which when not denominated in sterling are paid for principally in US dollars and Euros. The Group has entered into forward foreign exchange contracts (all of which are less than eighteen months in duration) to buy US dollars and Euros to manage the exchange rate risk arising from these anticipated future purchases. At the balance sheet date the total notional value of contracts to which the Group was committed was US$58.6m and EUR 7.9m (28 December 2024: US$64.3m and EUR nil). The fair value of these derivatives was a \u00a3nil asset and a \u00a31.3m liability (28 December 2024: \u00a30.9m asset and a \u00a3nil liability). These contracts are not designated as cash flow hedges, however given fair value accounting for these forward contracts does not reflect the intended economic outcome (i.e. to provide a level of certainty over future foreign currency purchases), the net unrealised gains and losses on remeasurement of the contracts are treated as adjusting items in the Group\u2019s adjusted profit measures (see notes 2 and 9 for further detail). Call option The fair value of the call option over the non-controlling interest in Gast Fast Limited is determined using valuation techniques because it is not traded in an active market. The Group uses its judgement to select an appropriate valuation method and makes assumptions that are mainly based on market conditions existing at the end of each reporting period.The valuation requires the estimation of numerous unobservable inputs, primarily future financial performance of the entity (revenue growth ranging from 15% to 45%), adjustments for the reduced marketability of a non-controlling interest (ranging from 10% to 17.5%) and an appropriate discount rate to be applied (pre-tax WACC of 24.2%). It is not expected for reasonably possible changes in these assumptions to materially affect the reported fair value. During the 52 weeks ended 27 December 2025, a total gain of \u00a33.0m (28 December 2024: \u00a3nil) was recognised in finance income and as a non-current asset. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-402": { "value": "Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. Liquidity analysis The following table details the Group\u2019s liquidity analysis for its other financial liabilities. The Group\u2019s contractual maturities, as at the balance sheet date, of financial liabilities are as follows:
Maturity analysis
Between one
Carrying Contractual Within one and five More than
(\u00a3m) Note amount cash flows year years five years
At 27 December 2025
Trade and other payables
at amortised cost
25
147.6
147.6
147.6
\u2013
\u2013
Lease liabilities
14
719.8
892.2
115.2
388.4
388.6
867.4
1,039.8
262.8
388.4
388.6
Maturity analysis
Between
Carrying Contractual Within one one and five More than
(\u00a3m) Note amount cash flows year years five years
At 28 December 2024
Trade and other payables
at amortised cost
25
138.1
138.1
138.1
\u2013
\u2013
Lease liabilities
14
705.3
868.2
112.3
396.5
359.4
843.4
1,006.3
250.4
396.5
359.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-360": { "value": "
30 Related party transactions
Key management personnel
Key management personnel are those persons having authority and responsibility for planning, directing and
controlling the activities of the Group, directly or indirectly. This is the Board, as identified on pages 76 to 77.
Key management compensation
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Salaries and other short-term employee benefits
2.4
2.2
Post-employment benefits
0.1
0.1
Share-based payments
1.5
1.0
4.0
3.3
The Group has a related party relationship with its subsidiaries and with its Directors. There have been no
related party transactions with Directors other than in respect of remuneration.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-389": { "value": "30 Related party transactions Key management personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly. This is the Board, as identified on pages 76 to 77. Key management compensation
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Salaries and other short-term employee benefits
2.4
2.2
Post-employment benefits
0.1
0.1
Share-based payments
1.5
1.0
4.0
3.3
The Group has a related party relationship with its subsidiaries and with its Directors. There have been no related party transactions with Directors other than in respect of remuneration.", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-403": { "value": "Key management personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly. This is the Board, as identified on pages 76 to 77. Key management compensation
52 weeks ended 52 weeks ended
27 December 28 December
(\u00a3m) 2025 2024
Salaries and other short-term employee benefits
2.4
2.2
Post-employment benefits
0.1
0.1
Share-based payments
1.5
1.0
4.0
3.3
The Group has a related party relationship with its subsidiaries and with its Directors. There have been no related party transactions with Directors other than in respect of remuneration.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } }, "fact-361": { "value": "
32 Alternative Performance Measures
Stock turn
Stock turn is defined as the cost of goods sold divided by the average of year start and year end inventory. It is a
measure of how effective we are in converting our stock into sales.
Stock turn is calculated as follows:
27 December 28 December
(\u00a3m) 2025 2024
Cost of goods sold
891.3
844.4
Opening stock
192.9
195.5
Closing stock
199.4
192.9
Average stock
196.2
194.2
Cost of goods sold divided by average stock
4.5
4.3
Like-for-like sales The use of like-for-like (LFL) sales and why they are useful is discussed in detail in note 5. Additionally, further LFL calculations, which are useful for the same reason, are calculated as follows: Like-for-like sales \u2013 Retail and Design & Installation Like-for-like sales are further broken down into Retail and Design & Installation related sales to enable further visibility of the relative performance of the two areas.
52 weeks ended
Like-for-like sales \u2013 Retail 27 December
(\u00a3m) 2025
Revenue
1,208.9
Network change
(11.6)
Revenue (like-for-like basis)
1,197.3
Prior period revenue
1,135.2
Prior period network change
(3.0)
Prior period revenue (like-for-like basis)
1,132.2
Increase arising on a like-for-like basis
65.1
Like-for-like revenue (%)
5.7%
52 weeks ended
Like-for-like sales \u2013 Design & Installation 27 December
(\u00a3m) 2025
Revenue
427.3
Network change
(8.6)
Revenue generated by business acquired in the period
(5.4)
Revenue (like-for-like basis)
413.3
Prior period revenue
409.3
Prior period network change
(5.6)
Prior period revenue generated by acquired business
(0.4)
Prior period revenue (like-for-like basis)
403.3
Increase arising on a like-for-like basis
10.0
Like-for-like revenue (%)
2.5%
Free cash flow
The use of free cash flow and why it is useful is discussed on page 22. It is calculated as follows:
27 December 28 December
(\u00a3m) 2025 2024
Cash generated from operations
206.1
170.6
Add back cash impact of adjusting items
\u2013
4.9
Adjusted cash inflow from operating activities
206.1
175.5
Less: payment of principal of lease liabilities, net of lease incentives received
(81.0)
(83.4)
Less: interest on lease liabilities
(31.1)
(30.1)
Less: purchases of property, plant and equipment, and development costs of
computer software
(25.2)
(26.1)
Less: income taxes paid
(12.2)
(8.6)
Add: proceeds on disposal of property, plant and equipment
\u2013
6.3
Less: sale and leaseback transaction
\u2013
(7.4)
Add: interest received
7.3
7.4
Less: interest paid
(1.1)
(1.4)
Free cash flow
62.8
32.2
IFRS 16 net debt leverage
IFRS 16 net debt leverage is the ratio of our net debt balance to our adjusted EBITDA (as calculated above). This
enables us to assess whether the profit we generate will be sufficient to pay our debt obligations.
As at As at
27 December 28 December
(\u00a3m) 2025 2024
Adjusted operating profit
74.8
67.4
Add back depreciation of property, plant and equipment
22.1
22.3
Add back depreciation of right-of-use assets
76.6
76.7
Add back amortisation
6.0
6.6
Adjusted EBITDA
179.5
173.0
27 December 28 December
(\u00a3m) 2025 2024
Net debt
628.1
619.0
Adjusted EBITDA
179.5
173.0
Leverage ratio
3.5
3.6
", "dimensions": { "concept": "wickesgroupplc:DisclosureOfAlternativePerformanceMeasures", "language": "en", "entity": "scheme:213800IEX9ZXJRAOL133", "period": "2024-12-29T00:00:00/2025-12-28T00:00:00" } } } }