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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
COMPANY INFORMATION
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THE LONG RAKE SPAR CO LIMITED
CONTENTS
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THE LONG RAKE SPAR CO LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors are pleased to present their Strategic Report for the year ended 31 March 2025.
The company is pleased to report a growth in revenue from £30.9m to £34.8m. The revenue growth together with strong cost control supported a PBT increase from £2.3m to £3.2m.
The year-end cash position decreased from £3.6m to £0.8m; Stock levels increased from £5.8m to £7.5m. Capital spend increased to £1,1m. The business continues to operate with no external funding. Demand for our products in the new 2025-2026 financial year to date has been strong demonstrating once again YOY improvement in part aided by a very dry spring and summer.
The Board is ultimately responsible for risk management and continues to develop policies and procedures that reflect the nature and scale of the Company's business. The board has identified the following key areas of risk to the business:
Credit risk - the potential exposure to loss in event of non-performance by a third party. The company controls the risk through credit approval limits. The largest customer represents 7.7% of turnover. Economic conditions - demand for our products and services is closely linked to the UK general economic conditions. Depressed economic conditions could impact on demand for our products. Raw material prices - any significant increase in raw material prices could affect the Company’s performance to the extent that they are not recovered through price increases. Competitor activity - a failure to compete with competitors on price, product range, quality and service could have an impact on the Company’s financial results. Foreign exchange risk - the group uses foreign currency contracts and holds euros on deposit to reduce the exposure to a fall in the value of sterling against the euro. Health and safety remains a core to the Company's business. No health and safety lost days were reported in the period. Long term growth of the business depends on the Company's ability to retain and attract personnel of high quality. The risk is managed by the implementation of attractive career and remuneration structures.
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THE LONG RAKE SPAR CO LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Long Rake Spar Co Ltd: Stakeholder Engagement
As the Board at Long Rake Spar Co. Ltd we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the Company’s success for the benefit of its members, and to have regard to the long-term effect of our decisions on the company and its stakeholders. The statement below addresses the ways in which we as a Board execute this responsibility. Promoting the company’s success for its members Long Rake Spar Co. Ltd is one of the largest decorative aggregate suppliers in the UK and proudly benefits from a long-standing reputation for offering the highest level of service to our varied customer base. Our structure promotes locally based depots in areas of the UK to provide a quality assured level of service to our valued customers utilising locally employed expertise, and to minimise haulage costs / environmental impact. We can demonstrate industry leading levels of customer service. Engaging with stakeholders Employees We regard our employees as our most valuable asset and as an organisation we work hard to maintain a motivated and experienced workforce that in turn offers the highest standard of service to our customers. We maintain long term training programmes for our staff which are conducted on a local and national basis utilising the knowledge and expertise of our supplier and externally sourced professionals. We also retain a strong ethic of internal promotion and career progression and actively recognise employee success and loyalty. We recognise the importance of communication with our employees, and we actively seek opportunities to engage with our staff. We welcome feedback from all our employees and listen carefully to any suggestions or proposals of how we can improve the way we work. Customer and Suppliers We maintain a policy of limiting our purchases to carefully chosen suppliers where a mutually beneficial business relationship can be maintained. Our suppliers are expected to provide products of the highest quality which meet all recognised industry legislation and standards in addition to reaching and maintaining our own expectation of quality of service, competitiveness, and social responsibility. We are committed to maintain the highest levels of ethical and moral fairness in all our business practices to ensure compliance with all current relevant law and regulation, in addition to the expectation and requirements of our trading partners. We successfully achieved the industry recognised standard of BS9001 in 2019 and have since maintained recognition at all our audited sites. We believe that this is a strong indicator of our commitment of the highest possible standards of service to all our customers. Environment We recognise the need to constantly review and where possible minimise the impact on the environment caused by our operation. We carefully select the most efficient and economical vehicles and all company cars are either fully electric or hybrid to reduce fuel consumption and C02 emissions. We promote the use of recyclable materials for packaging and maintain a policy of improvement to minimise energy use. We strive to ensure that all our operations run safely and energy efficiently.
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THE LONG RAKE SPAR CO LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The business has installed solar panels at the Rye site in the past year, making the site close to being self-sufficient on energy consumption.
Community We aim to minimise our operational impact whilst proving a positive contribution to the local communities in which we operate. We encourage local recruitment and foster relationships with local educational establishments. The Group often offers support towards many fundraising activities conducted by employees and suppliers.
This report was approved by the board on 15 December 2025 and signed on its behalf.
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THE LONG RAKE SPAR CO LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,453,170 (2024 - £1,730,357).
The directors who served during the year were:
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THE LONG RAKE SPAR CO LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The auditors, Shorts, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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THE LONG RAKE SPAR CO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED
We have audited the financial statements of The Long Rake Spar Co Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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THE LONG RAKE SPAR CO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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THE LONG RAKE SPAR CO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement team collectively had the appropriate competence, capabilities and skills to identify and recognise non-compliance with applicable laws and regulations; and
∙through discussions with the directors and other management and from our commercial knowledge, we identified the laws and regulations applicable to the Company.
∙focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙reviewed the general ledger entries during the year to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance;
∙enquiring of management as to actual and potential litigation and claims;
∙considering relationships with HMRC and other relevant regulators; and
∙reviewing legal and professional costs to identify any indicators of litigation.
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THE LONG RAKE SPAR CO LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
2 Ashgate Road
Derbyshire
S40 4AA
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THE LONG RAKE SPAR CO LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
REGISTERED NUMBER: 00666952
BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 13 to 28 form part of these financial statements.
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THE LONG RAKE SPAR CO LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Long Rake Spar Company Limited is a private company limited by shares, incorporated in England and Wales (registered number: 00666952). Its registered office is Long Rake, Middleton-By-Youlgreave, Bakewell, Derbyshire, DE45 1LW. The prinicipal activity throughout the year continued to be that of the processing and sale of calcite spar and the merchanting of other decorative aggregates.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Functional and presentation currency
Transactions and balances
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Tax is recognised in the Statement of income and retained earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: The recognition of deferred tax assets is limited to the extent that is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
All intangible assets are considered to have a finite useful life and are amortised on the straight line basis over the length of that life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Individual freehold properties are carried at fair value at the date of the revaluation, plus any subsequent additions stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The Company has taken advantage of the transitional provision in paragraph 35.10 (d) of FRS 102 to use the previous GAAP revaluation of freehold property as its deemed cost at the revaluation date. Hence freehold property is no longer stated under the revaluation model, but is deemed to be measured under the cost model as described in section 17 of FRS 102.
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. (i) Impairment of debtors The company makes an estimate of the recoverable value of trade debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the aging profile of debtors and historical experience. The amount of trade debtors after making such provision was £5,530,007 (2024: £4,863,167).
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of turnover by country of destination:
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 25
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
23.Deferred taxation (continued)
Share premium account
Revaluation reserve
Profit and loss account
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £90,833 (2024: £80,296).
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THE LONG RAKE SPAR CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company is controlled by T Broadhurst via his 100% shareholding in the company's parent company LRS Broadhurst Holdings Limited.
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