Independent furniture retailer Stokers has reported a decline in turnover as sales remained over £60m.

According to its latest filed accounts for the year ended 30 April 2024, total sales fell 11% to £61m from £69.1m in 2023.

Pre-tax profit resulted at £4.8m, down from £6m recorded against the previous year.

Stated within its report, the company said: “During the year the company contributed to an overall investment by the group of over £2m to extend the Doorway to Value store in Chorley, adding an additional 10,000 square feet of space. This work was completed in Spring 2024 and will ensure the longevity of this important store. In addition, the existing store underwent a complete refurbishment.

“The company continues to maintain a very strong balance sheet with net assets of over £20m. Cash fell from £7.5m to £2.5m which was largely due to the capital spend plus the dividend paid up to the parent. The company can call upon over £10m of cash from the group at any point and the group had no external borrowing or debt finance at the year end.

“For this reason the directors are confident that the company can maintain its expansion plans and at the same time weather any storms the UK economy may endure.”