Company Registration No. 03254155 (England and Wales)
JOHN LORD HOLDINGS LIMITED
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
JOHN LORD HOLDINGS LIMITED
COMPANY INFORMATION
Director
E.S.R. Lord
Secretary
K. J. Lord
Company number
03254155
Registered office
Unit 4
Park 66
Bury
Lancashire
BL9 8RZ
Auditor
Royce Peeling Green Limited
The Copper Room
Deva City Office Park
Trinity Way
Manchester
M3 7BG
Bankers
Barclays Bank Plc
1 Central Street
The Rock
Bury
Lancashire
BL9 0JN
JOHN LORD HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1 - 4
Director's report
5
Independent auditor's report
6 - 8
Group statement of comprehensive income
10
Group and company balance sheets
9
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 31
JOHN LORD HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 1 -

The Group Chairman presents his review of the group for the year ending 31st August 20 25.

Principal a ctivities

During the financial year, the Group was principally engaged in the following trading activities:

a) Via John Lord Holdings Ltd; commercial leasing of five individual industrial units, all five located in the Bury area.

b) Via John. L. Lord & Son (Rizistal) Ltd; manufacture, sale and contract installation of resin and cementitious based industrial flooring systems; sale and contracting of ‘soft flooring’ systems, including but not exclusively carpet, vinyl, hard wood and ceramics. The manufacture and on-line sales of specialist building products via the Rizistal sub brand. The manufacture, sale and contract installation of stainless steel drainage ware, wall base protective kerbing and a range of factory impact protection products all via the Aspen sub brand.

Performance Review

John. L. Lord & Son (Rizistal) Limited.

The strategic plan for diversification and expansion of the business continues. The business occupies a state of the art 25,000 sq. ft factory in Bury, purchased by John Lord Holdings Ltd new in 2018. This facility is fully utilised and is providing continued operational efficiency due to previous investment in manufacturing plant, equipment and facilities, well planned workflow with orchestrated patterns of activity and modern amenities and welfare facilities.

Despite unjustified reputational damage caused by the unfortunate demise of Canal Engineering in 2023 and continued stagnation in the company’s main markets during this financial year the John Lord Flooring business has maintained a robust and innovative approach to re-building reputational confidence. The industrial resin based flooring sector showed a continued stagnation in the marketplace which was reflected in sales throughout the year. The John Lord contract flooring (soft flooring) activities have continued to increase in turnover but at a slower pace than anticipated. Successful recruitment of additional soft flooring sales staff at the end of the year and recruitment of a contracts manager planned for early in the next financial year will take advantage of the anticipated market upturn in 2026. The challenge for this sector of the business going forward is to continue to manage an increase in turnover whilst maintaining margin.

The design, manufacture and sale of specialist stainless steel drainage, kerbing and other factory fitout items has been an integral part of the John Lord Specialist Flooring offer to market for many years. Following the demise of the Canal Engineering business in 2023, the directors decided to maintain these operational activities by creating an in-house division of John. L. Lord & Son (Rizistal) Ltd for sales, manufacturing and contract installation, to be known as Aspen Fabrications. To that end, John Lord recruited a number of skilled operatives in manufacture and installation along with operational management to maintain this service. Much of the first half of this year was taken researching new factory options. A new site was identified in 2024, in Ripley, Derbyshire. Terms agreed and factory refurbishment and commissioning commenced immediately. The not inconsiderable costs involved in plant and services installation and factory fit out has also been completed within this financial year. Successful recruitment of a senior business leader to drive the Aspen offer into carefully selected additional markets was also completed. During this year the development of a completely new range of industrial/commercial drainage ware was completed and launched to the market.

With concentration of effort by the directors on the above strategic plans, the Rizistal manufacturing and on-line sales business plan to significantly increase sales and offer diversity has been postponed and will be incorporated into the new plans for growth, going forward.

As this review is being compiled in the early part of financial year 2025/26, I can also advise of further plans which will have a positive impact on the business in the second half of financial year 2025/26. Following ongoing and detailed appraisal of the John. L. Lord & Son Ltd senior management team, it was decided by mutual consent to remove certain individual roles from the senior management positions and to promote long serving, energised and capable individuals to key roles. These actions resulted in the awarding of three new directorships. A careful and considered recruitment programme will also be entered into to fill certain identified key roles. As a result of these actions, there has been a significant reduction in overhead cost and a boost in management team morale and capability.

These changes will create a leaner, more proactive business, focused on growth and profitability.

JOHN LORD HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -

John Lord Holdings Ltd.

John Lord Holdings Ltd concluded the sale of the Lenton Lane factory during the prior financial year. The remaining property portfolio has been maintained and leasing to a variety of tenants has continued profitably throughout the year

Financial Review

The John Lord Holdings group has navigated a further challenging year in the marketplace but also invested heavily in one off costs for factory facilities and new product development.

As a consequence, the group incurred losses during this financial year, amounting to some £333k yet despite these losses, the group’s balance sheet remains strong and the group is well funded with available cash to fund identified business opportunities enhanced by new manufacturing facilities and new product launches.

In the second two quarters of the next financial year a management structure realignment for John L. Lord & Sons (Rizistal) Liimited as described above will have been completed, significantly cutting costs and improving efficiency.

The group directors and senior management team believe that the prospects for the group in the next financial year are stronger and likely to enhance and consolidate the group’s financial position resulting in a yet stronger balance sheet at year end.

Key performance indicators continuing activities

£000/ % | 2025 | 2024 | 2023
Turnover | 8,909 | 7,900 | 7,842
Gross margin % | 26.8% | 30.7% | 34.5%
Operating profit (loss) | (480) | (424) | 370
Operating cash flow | (248) | 246 | (347)
Cash and liquid investments | 1,595 | 2,681 | 1,217
Net assets | 7,918 | 8,360 | 8,735

Risks and uncertainties

The directors and management team monitor the on-going operational and financial performance as a main agenda item at monthly business review and margin meetings and believe that the major foreseeable risks and uncertainties are being addressed adequately and as the need arises.

The principal risks and uncertainties impacting upon the group along with the procedures in place to mitigate them are described below:

Directors long term business plans:

It is the intention of the group directors to plan for the on-going security of the group and to create well thought out and innovative strategies for the groups sustainable growth.

Reliance on and retention of key personnel:

* Active encouragement of promotion within the group

* Continued vocational training and personal development

* Acknowledgment of the age demographic of certain senior and key personnel and adoption of sympathetic succession planning where necessary

* Planned recruitment policy to strengthen management capability

* Continuous staff appraisal systems across all areas

* Competitive remuneration, bonus and benefits packages

* Regular consultations and participation with compliance and HR departments

JOHN LORD HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -

Adverse economic conditions:

*Some stagnation and marginal decline in the company’s traditional markets resulting in compromised specifications and increasingly competitive pricing.

*Continued raw material price increases across all sectors. Particular concerns relate to the price of imports from the EU, possible custom check delays and tariffs, exchange rate fluctuations and general business confidence.

* Difficulties in trading in the EU due to customer perception which remains negative since Brexit.

*The continued growth of Chinese imports, particularly vehicles at subsidised prices which are having a devastating effect on manufacturers in Europe and the USA.

Opportunities within the group:

* Consolidation of group activities.

* Anticipated upturn in 2026 in the Group’s traditional markets.

* Continued diversification of the customer base

* Development of home market product sales opportunities

* Continuous research and development work to create new products which will present new trading opportunities

* Partnering opportunities with other manufacturers/suppliers to benefit both parties by exploiting each party’s key attributes.

*Potential joint marketing and promotional activities with synergistic partners.

* Regular review of IT systems to improve efficiency and working conditions.

Changes in industry standards and legislation:

*Active participation in appropriate trade associations by technical team.

* Consistent research and development work to create new products which avoid ingredients or installation practices which may in the future be deemed potentially hazardous to health

* Review of factory facilities and infrastructure to improve working environment and efficiency

* Regular review and improvement of in-house quality and compliance procedures.

Failure of a major supplier or customer:

*Detailed financial and quality audit reviews of key suppliers and customers.

* Regular review of key supplier’s own contingency plans

* Dual sourcing arrangements in place wherever possible to counter key supply chain deficiencies

* Negotiate payment terms with customers to cover costs up front whenever possible.

Other matters

Working Capital requirement

* The group is able to fund on-going trading and planned strategic expansion from existing group resources.

Research and development

* The group is totally committed to research and development and maintains a team of people who work within the businesses and throughout the raw material supply chains to ensure our products are at the forefront of an extremely competitive market.

Human Resources

*In the recruitment of staff and the future career development, individuals are considered having regard to their aptitudes and abilities, irrespective of gender, race, marital status or disability.

Health and safety

* The group seeks to comply with all relevant health and safety legislation to ensure, as far as reasonably practicable, that safety working rules are established, maintained and adhered to in order to secure the safety of employees, contractors and visitors within all aspects of its operations.

* All employees are educated in aspects of health and safety compliance within their environment and beyond, with suitable procedures in place to cover incidents should they arise.

JOHN LORD HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -

By order of the board

E. S. R. Lord
Chairman
7 April 2026
JOHN LORD HOLDINGS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -

The director presents his annual report and financial statements for the year ended 31 August 2025.

Director

E.S.R Lord was the sole director who held office during the year and up to the date of signature of the accounts.

Results and dividends

The results for the year are set out on page 10.

O rdinary dividends were paid by the company of £47,080 (2024: £134,422) and further dividends of £96,305 (2024: £86,325) are as yet unpaid.

Supplier payment policy

The group's current policy concerning the payment of trade creditors is to

- settle the terms of payment with suppliers when agreeing the terms of each transaction,

- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts, and

- pay in accordance with the company’s contractual and other legal obligations.

Auditor

The auditor, Royce Peeling Green Limited, is deemed to be reappointed under s487(2) Companies Act 2006.

Statement of director's responsibilities

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

By order of the board
K. J. Lord
7 April 2026
Secretary
JOHN LORD HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF JOHN LORD HOLDINGS LIMITED
- 6 -
Opinion

We have audited the financial statements of John Lord Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)(UKGAAP).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 August 2025 and of the group's loss for the year then ended;

- have been properly prepared in accordance with UKGAAP; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the director's report have been prepared in accordance with applicable legal requirements.

JOHN LORD HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JOHN LORD HOLDINGS LIMITED
- 7 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of 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:

- In audit planning we gain an understanding of the laws and regulations which apply to the companies and how management seek to comply with them. This helps us to make appropriate risk assessments.

- During the audit we focus on relevant risk areas and review compliance with laws and regulations through making relevant enquiries and corroboration by, for example, reviewing Board Minutes and other documentation.

- We also assess the risk of material misstatement in the financial statements including as a result of fraud and undertake procedures including:

- Review of controls set in place by management

- Enquiry of management as to whether they consider fraud or other irregularities may have occurred or where such opportunity might exist

- Challenge of management assumptions with regard to accounting estimates

- Identification and testing of journal entries, particularly those which may appear to be unusual by size or nature.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements, or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we are less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

JOHN LORD HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF JOHN LORD HOLDINGS LIMITED
- 8 -

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Chatten (Senior Statutory Auditor)
For and on behalf of Royce Peeling Green Limited, Statutory Auditor
Chartered Accountants
The Copper Room
Deva City Office Park
Trinity Way
Manchester
M3 7BG
7 April 2026
JOHN LORD HOLDINGS LIMITED
GROUP AND COMPANY BALANCE SHEETS
AS AT
31 AUGUST 2025
31 August 2025
- 9 -
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
4,467,077
4,627,619
3,550,342
3,618,657
Investments
10
1,093,454
924,845
2,450,054
2,281,445
5,560,531
5,552,464
6,000,396
5,900,102
Current assets
Stocks
13
1,471,204
1,151,250
-
-
Debtors
14
1,064,625
1,530,881
320,965
148,384
Cash at bank and in hand
1,595,066
2,680,893
1,146,100
1,882,937
4,130,895
5,363,024
1,467,065
2,031,321
Creditors: amounts falling due within one year
15
(1,388,888)
(2,125,819)
(185,015)
(583,838)
Net current assets
2,742,007
3,237,205
1,282,050
1,447,483
Total assets less current liabilities
8,302,538
8,789,669
7,282,446
7,347,585
Creditors: amounts falling due after more than one year
16
(62,808)
(112,421)
-
-
Provisions for liabilities
Deferred tax liability
19
(309,363)
(317,248)
(135,458)
(129,925)
Net assets
7,930,367
8,360,000
7,146,988
7,217,660
Capital and reserves
Called up share capital
20
10,000
10,000
10,000
10,000
Revaluation reserve
21
1,129,495
1,129,495
1,129,495
1,129,495
Other reserves
21
388,881
388,881
1,347,600
1,347,600
Profit and loss reserves
21
6,401,991
6,831,624
4,659,893
4,730,565
Total equity
7,930,367
8,360,000
7,146,988
7,217,660

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s loss for the year was £13,612 (2024 - £151,529 loss).

The financial statements were approved and signed by the director and authorised for issue on 7 April 2026
07 April 2026
E.S.R. Lord
Director
Company registration number 03254155 (England and Wales)
JOHN LORD HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
8,909,725
7,899,930
Cost of sales
(6,521,255)
(5,471,850)
Gross profit
2,388,470
2,428,080
Distribution costs
(589,241)
(571,504)
Administrative expenses
(2,351,587)
(2,342,720)
Other operating income
71,543
62,400
Operating loss
5
(480,815)
(423,744)
Interest receivable and similar income
168,864
29,247
Interest payable and similar expenses
7
(25,404)
(53,876)
Amounts written off investments
8
4,443
-
Loss before taxation
(332,912)
(448,373)
Tax on loss
9
(39,661)
18,170
Loss for the financial year
21
(372,573)
(430,203)
Other comprehensive income
Revaluation of tangible fixed assets
-
0
234,396
Total comprehensive income for the year
(372,573)
(195,807)
Loss for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
JOHN LORD HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
12
3,550,342
3,618,657
Investments
10
2,450,054
2,281,445
6,000,396
5,900,102
Current assets
Debtors
14
320,965
148,384
Cash at bank and in hand
1,146,100
1,882,937
1,467,065
2,031,321
Creditors: amounts falling due within one year
15
(185,015)
(583,838)
Net current assets
1,282,050
1,447,483
Total assets less current liabilities
7,282,446
7,347,585
Provisions for liabilities
Deferred tax liability
19
135,458
129,925
(135,458)
(129,925)
Net assets
7,146,988
7,217,660
Capital and reserves
Called up share capital
20
10,000
10,000
Revaluation reserve
21
1,129,495
1,129,495
Other reserves
21
1,347,600
1,347,600
Profit and loss reserves
21
4,659,893
4,730,565
Total equity
7,146,988
7,217,660

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s loss for the year was £13,612 (2024 - £151,529 loss).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 7 April 2026
07 April 2026
E.S.R. Lord
Director
Company registration number 03254155 (England and Wales)
JOHN LORD HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 12 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 September 2023
10,000
1,830,642
388,881
6,505,248
8,734,771
Year ended 31 August 2024:
Loss for the year
-
-
-
(430,203)
(430,203)
Other comprehensive income:
Revaluation of tangible fixed assets
-
234,396
-
-
234,396
Total comprehensive income
-
234,396
-
(430,203)
(195,807)
Dividends
-
-
-
(184,963)
(184,963)
Transfers
-
-
-
941,542
941,542
Realisation of historic cost surplus on property disposal
-
(935,543)
-
-
(935,543)
Balance at 31 August 2024
10,000
1,129,495
388,881
6,831,624
8,360,000
Year ended 31 August 2025:
Loss and total comprehensive income
-
-
-
(372,573)
(372,573)
Dividends
-
-
-
(57,060)
(57,060)
Balance at 31 August 2025
10,000
1,129,495
388,881
6,401,991
7,930,367
JOHN LORD HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 13 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 September 2023
10,000
1,830,642
1,347,600
4,125,515
7,313,757
Year ended 31 August 2024:
Loss for the year
-
-
-
(151,529)
(151,529)
Other comprehensive income:
Revaluation of tangible fixed assets
-
234,396
-
-
234,396
Total comprehensive income
-
234,396
-
(151,529)
82,867
Dividends
-
-
-
(184,963)
(184,963)
Transfers
-
-
-
941,542
941,542
Realisation of historic cost surplus on property disposal
-
(935,543)
-
-
(935,543)
Balance at 31 August 2024
10,000
1,129,495
1,347,600
4,730,565
7,217,660
Year ended 31 August 2025:
Profit and total comprehensive income
-
-
-
(13,612)
(13,612)
Dividends
-
-
-
(57,060)
(57,060)
Balance at 31 August 2025
10,000
1,129,495
1,347,600
4,659,893
7,146,988
JOHN LORD HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
27
(248,138)
246,244
Interest paid
(25,404)
(53,876)
Income taxes paid
(47,546)
-
0
Net cash (outflow)/inflow from operating activities
(321,088)
192,368
Investing activities
Purchase of tangible fixed assets
(178,508)
(199,802)
Proceeds from disposal of tangible fixed assets
22,709
1,819,409
Purchase of investments
(164,166)
-
Repayment of loans
(22,675)
62,653
Interest received
48,864
29,247
Proceeds from liquidation of subsidiary
120,000
-
0
Net cash (used in)/generated from investing activities
(173,776)
1,711,507
Financing activities
Repayment of bank loans
(408,620)
(116,632)
Payment of finance leases obligations
(135,263)
(91,744)
Dividends paid to equity shareholders
(47,080)
(231,324)
Net cash used in financing activities
(590,963)
(439,700)
Net (decrease)/increase in cash and cash equivalents
(1,085,827)
1,464,175
Cash and cash equivalents at beginning of year
2,680,893
1,216,718
Cash and cash equivalents at end of year
1,595,066
2,680,893
JOHN LORD HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 15 -
1
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Contract accounting

The group's revenue and profit recognition policies as set out in note 1 are central to the way it values its work each year and have been consistently applied. The key judgements and estimates in determining the turnover and profits of these contracts are:

- estimation of costs to complete;

- achieving the agreed contractual program; and

- recoverability of any claims or variations.

The estimation uncertainty is reduced by the effect of the portfolio of work ongoing in any period, the short duration of many contracts and by the significant experience of the management team which includes qualified estimators. Nevertheless, profit recognition is a key estimate and is inherently judgemental in any contracting business.

2
Accounting policies
Company information

John Lord Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 4 Park 66, Bury, Lancashire, United Kingdom, BL9 8RZ.

The group consists of John Lord Holdings Limited and all of its subsidiaries.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of properties and to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2
Basis of consolidation

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2
Accounting policies
(Continued)
- 16 -

The consolidated financial statements incorporate those of John Lord Holdings Limited and all of its subsidiaries (ie entities that the g roup controls through its power to govern the financial and operating policies so as to obtain economic benefits).

All financial statements are made up to 31 August 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

2.3
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

2.5
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred.

Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

2.6
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings
50 years straight line
Leasehold improvements
5 to 20 years
Plant and equipment
2 to 10 years
Fixtures and fittings
5 to 10 years
Motor vehicles
4 to 5 years
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
2
Accounting policies
(Continued)
- 17 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

2.7
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

Classic car investments held for capital appreciation are held at estimated market value.

2.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of investments accounted for using the equity method is tested for impairment as a single asset. Any g oodwill in the carrying amount of an investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

2.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
2
Accounting policies
(Continued)
- 18 -
2.10
Work in progress

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

2.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
2
Accounting policies
(Continued)
- 19 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

2.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

2.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
2
Accounting policies
(Continued)
- 20 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
2
Accounting policies
(Continued)
- 21 -
2.18

Liability limitation agreement

The company has entered into a liability limitation agreement with Royce Peeling Green Limited, the statutory auditor for the year ended 31 August 202 5. The proportionate liability agreement follows the standard terms in Appendix B to the FRC's June 2008 Guidance on Auditor Liability Agreements, and has been approved by the shareholders.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Flooring
8,909,725
7,899,930
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
8,909,725
7,899,930
2025
2024
£
£
Other revenue
Interest income
48,864
29,247
Proceeds from liquidation of subsidiary
120,000
-
Rental income arising from investment properties
247,043
248,451
-
105,132
4
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Management and office
26
103
1
1
Production and contracting
46
50
-
-
Total
72
153
1
1
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
4
Employees
(Continued)
- 22 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
3,577,956
3,408,930
-
0
-
0
Social security costs
135,584
321,510
-
-
Pension costs
36,491
38,085
-
0
-
0
3,750,031
3,768,525
-
0
-
0
5
Operating loss
2025
2024
£
£
Operating loss for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
336,923
214,840
Depreciation of tangible fixed assets held under finance leases
-
160,869
Profit on disposal of tangible fixed assets
(20,582)
(96,358)
Operating lease charges
227,510
90,835
6
Retirement benefit schemes
2025
2024
£
£
Charge to profit or loss in respect of defined contribution schemes
36,491
38,085

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
4,989
33,739
Other finance costs:
Interest on finance leases and hire purchase contracts
19,792
20,137
Other interest
623
-
Total finance costs
25,404
53,876
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 23 -
8
Other gains and losses
2025
2024
£
£
Unrealised gain on listed investments
4,443
-
9
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
47,544
-
0
Deferred tax
Origination and reversal of timing differences
(7,883)
(6,065)
Adjustment in respect of prior periods
-
0
(12,105)
Total deferred tax
(7,883)
(18,170)
Total tax charge/(credit)
39,661
(18,170)

The actual charge/(credit) for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(332,912)
(448,373)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(83,228)
(112,093)
Tax effect of expenses that are not deductible in determining taxable profit
36,026
6,399
Gains not taxable
-
0
(22,994)
Tax effect of utilisation of tax losses not previously recognised
(47)
-
0
Unutilised tax losses carried forward
31,510
107,542
Adjustments in respect of prior years
47,544
-
0
Depreciation on assets not qualifying for tax allowances
7,856
15,081
Deferred tax adjustments in respect of prior years
-
0
(12,105)
Taxation charge/(credit)
39,661
(18,170)
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 24 -
10
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
11
-
0
-
0
1,356,600
1,356,600
Listed investments
168,609
-
0
168,609
-
0
Unlisted investments
924,845
924,845
924,845
924,845
1,093,454
924,845
2,450,054
2,281,445

Other investments largely comprise investments in classic cars.

11
Subsidiaries

Details of the company's subsidiaries at 31 August 2025 are as follows:

Name of undertaking
Address
Nature of business
Class of
% Held
shares held
Direct
John L Lord & Son (Rizistal) Limited
1
Specialist flooring
Ordinary
99.94
SLS Design Consultants Limited
1
Non trading
Ordinary
100.00
Rizistal Engineering Services Limited
1
Dormant
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
Unit 4, Park 66, Bury, Lancahsire BL9 8RZ
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 25 -
12
Tangible fixed assets
Group
Land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 September 2024
3,578,000
457,763
414,619
137,807
1,129,755
5,717,944
Additions
-
0
76,364
17,832
38,590
45,722
178,508
Disposals
-
0
-
0
(276,977)
(75,029)
(106,575)
(458,581)
At 31 August 2025
3,578,000
534,127
155,474
101,368
1,068,902
5,437,871
Depreciation and impairment
At 1 September 2024
47,238
110,315
296,760
105,244
530,768
1,090,325
Depreciation charged in the year
60,060
30,433
21,998
15,142
209,290
336,923
Eliminated in respect of disposals
-
0
-
0
(276,977)
(75,029)
(104,448)
(456,454)
At 31 August 2025
107,298
140,748
41,781
45,357
635,610
970,794
Carrying amount
At 31 August 2025
3,470,702
393,379
113,693
56,011
433,292
4,467,077
At 31 August 2024
3,530,762
347,448
117,859
32,563
598,987
4,627,619
Company
Land and buildings
Plant and equipment
Total
£
£
£
Cost or valuation
At 1 September 2024
3,578,000
97,395
3,675,395
Additions
-
0
1,441
1,441
At 31 August 2025
3,578,000
98,836
3,676,836
Depreciation and impairment
At 1 September 2024
47,238
9,500
56,738
Depreciation charged in the year
60,060
9,696
69,756
At 31 August 2025
107,298
19,196
126,494
Carrying amount
At 31 August 2025
3,470,702
79,640
3,550,342
At 31 August 2024
3,530,762
87,895
3,618,657
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
12
Tangible fixed assets
(Continued)
- 26 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2025
2024
2025
2024
£
£
£
£
Motor vehicles
264,404
438,647
-
0
-
0

At 31 August 202 5 freehold land and buildings comprised:

- one property at a carrying amount of £631,264 which was last revalued in 2021 by the director on the basis of market value based on market transactions on arm's length terms for similar properties; and

- a second property carried at valuation of £2,839,438 which was revalued in 2024 by Allsop LLP, members of RICS, based on vacant possession.

At 31 August 2024 freehold land and buildings comprised:

- one property at a carrying amount of £644,824 which was last revalued in 2021 by the director on the basis of market value based on market transactions on arm's length terms for similar properties; and

- a second property carried at valuation of £2,885,938 which was revalued in the year by Allsop LLP, members of RICS, based on vacant possession.

The historic cost and consequent accumulated depreciation of the revalued properties is as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Cost
3,374,444
4,758,577
3,374,444
4,758,577
Accumulated depreciation
(414,028)
(848,975)
(414,028)
(848,975)
Carrying value
2,960,416
3,909,602
2,960,416
3,909,602
13
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
619,823
638,072
-
-
Contract work in progress
851,381
513,178
-
-
1,471,204
1,151,250
-
-
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 27 -
14
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
850,212
1,306,108
27,913
12,665
Amounts owed by group undertakings
-
-
158,831
8,575
Other debtors
71,757
53,815
71,359
53,501
Prepayments and accrued income
142,656
170,958
62,862
73,643
1,064,625
1,530,881
320,965
148,384
15
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
17
-
0
408,620
-
0
408,620
Obligations under finance leases
18
79,156
164,806
-
0
-
0
Trade creditors
596,876
672,094
59,216
56,846
Amounts owed to group undertakings
-
0
-
0
-
0
1,147
Other taxation and social security
108,924
168,688
-
-
Dividends payable
96,305
86,325
96,305
86,325
Other creditors
79,856
80,277
13,895
12,075
Accruals and deferred income
427,771
545,009
15,599
18,825
1,388,888
2,125,819
185,015
583,838
16
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Obligations under finance leases
18
62,808
112,421
-
0
-
0
17
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
-
0
408,620
-
0
408,620
Payable within one year
-
0
408,620
-
0
408,620

The bank loan is secured by a legal charge over the registered office property dated 9 July 2019 and cross guarantee from subsidiary undertakings. This loan bears interest at a rate of 2% over base rate and the residual balance was scheduled for repayment and was repaid in full by 31 October 2024.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 28 -
18
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
90,044
181,162
-
0
-
0
In two to five years
70,607
129,642
-
0
-
0
160,651
310,804
-
-
Less: future finance charges
(18,687)
(33,577)
-
0
-
0
141,964
277,227
-
0
-
0

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3.5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

Amounts owed under finance leases or hire purchase contracts are secured against the underlying assets to which the finance relates.

19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
305,628
314,025
Revaluations
7,291
7,291
Retirement benefit obligations
(3,556)
(4,068)
309,363
317,248
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
128,167
122,634
Revaluations
7,291
7,291
135,458
129,925
JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
19
Deferred taxation
(Continued)
- 29 -
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 September 2024
317,248
129,925
(Credit)/charge to profit or loss
(7,885)
5,533
Liability at 31 August 2025
309,363
135,458
20
Share capital
Group and company
2025
2024
Ordinary share capital
£
£
Issued and fully paid
100,000 ordinary shares of 10p each
10,000
10,000
21
Reserves

Group

The group reserves comprise the following:

The Other reserve is a Merger reserve which represents the difference between the nominal value of shares issued by the parent company and the net assets of John L. Lord & Son (Rizistal) Limited and Rizistal Engineering Services Limited upon acquisition in 1 996. This reserve is not distributable.

The Profit and loss reserve represents cumulative profits or losses net of dividends paid.

The Revaluation reserve comprises the cumulative unrealised gains on revaluation of properties, fixed asset investments and current asset investments being the difference between their fair value included in the financial statements and amortised cost. Other movements in the year shown in the Statement of changes in equity comprise the realisation of historical cost gains and losses. This reserve is not distributable.

Company

The company reserves comprise the following:

The Other reserve represents the difference between the fair value and nominal value of shares issued by the company to acquire John L. Lord & Son (Rizistal) Limited and Rizistal Engineering Services Limited in 1996. This reserve is not distributable.

The Profit and loss reserve represents cumulative profits or losses net of dividends paid.

The Revaluation reserve comprises the cumulative unrealised gains on revaluation of properties, fixed asset investments and current asset investments being the difference between their fair value included in the financial statements and amortised cost. Other movements in the year shown in the Statement of changes in equity comprise the realisation of historical cost gains and losses. This reserve is not distributable.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 30 -
22
Financial commitments, guarantees and contingent liabilities

The company’s bank borrowing facilities are secured by way of cross-guarantee between the following related parties John Lord Holdings Limited, John L Lord & Sons (Rizistal) Limited and SLS Design Consultants Limited, and by a first legal charge over a number of the properties owned by these entities. The company has similarly cross guaranteed the bank borrowings of those entities. The amount outstanding under these facilities at 30 September 202 5 was £Nil (2024: £408,620).

23
Operating lease commitments: lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
236,283
14,228
-
-
Between two and five years
692,486
4,743
-
-
928,769
18,971
-
-
24
Directors' transactions

Dividends of £47,080 (2024: £134,422) were paid in the year in respect of shares held by the company's director.

At the year end an amount of £69,357 was owed by E.S.R. Lord (2024: £46,824). This comprises current account balances owed by E.S.R. Lord which are repayable on demand and bear no interest.

25
Related party transactions

The company has taken advantage of the exemption available in FRS 102 whereby it has not disclosed transactions with any wholly owned subsidiary undertaking.

Dividends of £9,980 (2024: £26,820) were declared but not paid in the year in respect of shares held by the Trustees of the John Lord Pension Scheme. The balance unpaid at 31 August 2025 was £9,980 (2024: £26,820). E.S.R. Lord is a trustee and a beneficiary of the scheme.

26
Controlling party

In the director's opinion the company is controlled by E.S.R. Lord, the majority shareholder.

JOHN LORD HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 31 -
27
Cash (absorbed by)/generated from group operations
2025
2024
£
£
Loss for the year after tax
(372,573)
(430,203)
Adjustments for:
Taxation charged/(credited)
39,661
(18,170)
Finance costs
25,404
53,876
Investment income
(168,864)
(29,247)
Gain on disposal of tangible fixed assets
(20,582)
(96,358)
Depreciation and impairment of tangible fixed assets
336,923
375,709
Other gains and losses
(4,443)
-
Movements in working capital:
Increase in stocks
(319,954)
(116,629)
Decrease in debtors
488,931
592,593
Decrease in creditors
(252,641)
(85,327)
Cash (absorbed by)/generated from operations
(248,138)
246,244
28
Analysis of changes in net funds - group
1 September 2024
Cash flows
31 August 2025
£
£
£
Cash at bank and in hand
2,680,893
(1,085,827)
1,595,066
Borrowings excluding overdrafts
(408,620)
408,620
-
Obligations under finance leases
(277,227)
135,263
(141,964)
1,995,046
(541,944)
1,453,102
2025-08-31 2024-09-01 false false CCH Software CCH Accounts Production 2025.300 E.S.R. Lord K. J. Lord false 03254155 2024-09-01 2025-08-31 03254155 bus:Director1 2024-09-01 2025-08-31 03254155 bus:CompanySecretary1 2024-09-01 2025-08-31 03254155 bus:RegisteredOffice 2024-09-01 2025-08-31 03254155 bus:Agent1 2024-09-01 2025-08-31 03254155 bus:Consolidated 2024-09-01 2025-08-31 03254155 bus:Consolidated 2025-08-31 03254155 2025-08-31 03254155 bus:Consolidated 2024-08-31 03254155 2024-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2025-08-31 03254155 core:LeaseholdImprovements bus:Consolidated 2025-08-31 03254155 core:PlantMachinery bus:Consolidated 2025-08-31 03254155 core:FurnitureFittings bus:Consolidated 2025-08-31 03254155 core:MotorVehicles bus:Consolidated 2025-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-08-31 03254155 core:LeaseholdImprovements bus:Consolidated 2024-08-31 03254155 core:PlantMachinery bus:Consolidated 2024-08-31 03254155 core:FurnitureFittings bus:Consolidated 2024-08-31 03254155 core:MotorVehicles bus:Consolidated 2024-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets 2025-08-31 03254155 core:PlantMachinery 2025-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 03254155 core:PlantMachinery 2024-08-31 03254155 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-08-31 03254155 core:CurrentFinancialInstruments bus:Consolidated 2024-08-31 03254155 core:WithinOneYear 2025-08-31 03254155 core:WithinOneYear 2024-08-31 03254155 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-08-31 03254155 core:CurrentFinancialInstruments 2025-08-31 03254155 core:CurrentFinancialInstruments 2024-08-31 03254155 core:ShareCapital bus:Consolidated 2025-08-31 03254155 core:ShareCapital bus:Consolidated 2024-08-31 03254155 core:ShareCapital 2025-08-31 03254155 core:ShareCapital 2024-08-31 03254155 core:RevaluationReserve bus:Consolidated 2025-08-31 03254155 core:RevaluationReserve bus:Consolidated 2024-08-31 03254155 core:RevaluationReserve 2025-08-31 03254155 core:RevaluationReserve 2024-08-31 03254155 core:OtherMiscellaneousReserve bus:Consolidated 2025-08-31 03254155 core:OtherMiscellaneousReserve bus:Consolidated 2024-08-31 03254155 core:OtherMiscellaneousReserve 2025-08-31 03254155 core:OtherMiscellaneousReserve 2024-08-31 03254155 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-08-31 03254155 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-08-31 03254155 core:RetainedEarningsAccumulatedLosses 2025-08-31 03254155 core:RetainedEarningsAccumulatedLosses 2024-08-31 03254155 core:ShareCapital bus:Consolidated 2023-08-31 03254155 core:SharePremium bus:Consolidated 2023-08-31 03254155 2023-08-31 03254155 core:ShareCapital 2023-08-31 03254155 core:RevaluationReserve 2023-08-31 03254155 core:RetainedEarningsAccumulatedLosses 2023-08-31 03254155 bus:Consolidated 2023-09-01 2024-08-31 03254155 2023-09-01 2024-08-31 03254155 bus:Consolidated 2023-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-01 2025-08-31 03254155 core:LeaseholdImprovements 2024-09-01 2025-08-31 03254155 core:PlantMachinery 2024-09-01 2025-08-31 03254155 core:FurnitureFittings 2024-09-01 2025-08-31 03254155 core:MotorVehicles 2024-09-01 2025-08-31 03254155 core:UKTax bus:Consolidated 2024-09-01 2025-08-31 03254155 core:UKTax bus:Consolidated 2023-09-01 2024-08-31 03254155 bus:Consolidated 1 2024-09-01 2025-08-31 03254155 bus:Consolidated 1 2023-09-01 2024-08-31 03254155 core:ListedExchangeTraded bus:Consolidated 2025-08-31 03254155 core:ListedExchangeTraded bus:Consolidated 2024-08-31 03254155 core:ListedExchangeTraded 2025-08-31 03254155 core:ListedExchangeTraded 2024-08-31 03254155 core:UnlistedNon-exchangeTraded bus:Consolidated 2025-08-31 03254155 core:UnlistedNon-exchangeTraded bus:Consolidated 2024-08-31 03254155 core:UnlistedNon-exchangeTraded 2025-08-31 03254155 core:UnlistedNon-exchangeTraded 2024-08-31 03254155 core:Subsidiary1 2024-09-01 2025-08-31 03254155 core:Subsidiary2 2024-09-01 2025-08-31 03254155 core:Subsidiary3 2024-09-01 2025-08-31 03254155 core:Subsidiary1 1 2024-09-01 2025-08-31 03254155 core:Subsidiary2 2 2024-09-01 2025-08-31 03254155 core:Subsidiary3 3 2024-09-01 2025-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-08-31 03254155 core:LeaseholdImprovements bus:Consolidated 2024-08-31 03254155 core:PlantMachinery bus:Consolidated 2024-08-31 03254155 core:FurnitureFittings bus:Consolidated 2024-08-31 03254155 core:MotorVehicles bus:Consolidated 2024-08-31 03254155 bus:Consolidated 2024-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 03254155 core:PlantMachinery 2024-08-31 03254155 2024-08-31 03254155 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-09-01 2025-08-31 03254155 core:LeaseholdImprovements bus:Consolidated 2024-09-01 2025-08-31 03254155 core:PlantMachinery bus:Consolidated 2024-09-01 2025-08-31 03254155 core:FurnitureFittings bus:Consolidated 2024-09-01 2025-08-31 03254155 core:MotorVehicles bus:Consolidated 2024-09-01 2025-08-31 03254155 core:MotorVehicles 2025-08-31 03254155 core:MotorVehicles 2024-08-31 03254155 core:CurrentFinancialInstruments bus:Consolidated 2025-08-31 03254155 core:CurrentFinancialInstruments bus:Consolidated 1 2025-08-31 03254155 core:CurrentFinancialInstruments bus:Consolidated 1 2024-08-31 03254155 core:CurrentFinancialInstruments 2 2025-08-31 03254155 core:CurrentFinancialInstruments 3 2025-08-31 03254155 core:WithinOneYear bus:Consolidated 2025-08-31 03254155 core:WithinOneYear bus:Consolidated 2024-08-31 03254155 core:CurrentFinancialInstruments core:WithinOneYear 2025-08-31 03254155 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 03254155 core:Non-currentFinancialInstruments bus:Consolidated 2025-08-31 03254155 core:Non-currentFinancialInstruments bus:Consolidated 2024-08-31 03254155 core:Non-currentFinancialInstruments 2025-08-31 03254155 core:Non-currentFinancialInstruments 2024-08-31 03254155 core:BetweenTwoFiveYears bus:Consolidated 2025-08-31 03254155 core:BetweenTwoFiveYears bus:Consolidated 2024-08-31 03254155 core:BetweenTwoFiveYears 2025-08-31 03254155 core:BetweenTwoFiveYears 2024-08-31 03254155 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 03254155 bus:FRS102 2024-09-01 2025-08-31 03254155 bus:Audited 2024-09-01 2025-08-31 03254155 bus:ConsolidatedGroupCompanyAccounts 2024-09-01 2025-08-31 03254155 bus:FullAccounts 2024-09-01 2025-08-31 xbrli:pure xbrli:shares iso4217:GBP