Company registration number 13573385 (England and Wales)
J. LONG & SONS (HOLDINGS) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
J. LONG & SONS (HOLDINGS) LIMITED
COMPANY INFORMATION
Directors
Mr S P Long
Mr M A Long
Ms D L Long
Mrs B Long
Mr D A Long
Mrs D G Long
Mrs J Long
Mr J M Long
(Appointed 13 November 2025)
Company number
13573385
Registered office
2 Church House
Cattle Lane
Aberford
Leeds
LS25 3BH
Auditor
Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ
J. LONG & SONS (HOLDINGS) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 31
J. LONG & SONS (HOLDINGS) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The directors present the strategic report for the year ended 30 September 2025.

Review of the business

During the Financial Year, the directors undertook a strategic review of the Group to assess the Holding Company’s assets and opportunities, together with the main trading subsidiary J. Long & Sons (Haulage) Ltd., and the outlook for the road transport sector.

It was concluded that the main trading business would benefit from being part of a larger organisation where the benefits gained from consolidation could better support the business. The directors recognised that trading conditions, wider economic confidence, and continued geopolitical impacts continued to present challenges on margins and profitability.

After careful negotiations and lengthy consideration, the decision was made to sell the main trading entity, J. Long & Sons (Haulage) Ltd, which completed on the 9 th of September 2025. A careful selection process and detailed due diligence were undertaken on both sides to ensure best fit, to obtain maximum impact in terms of the benefits of consolidation, and to protect continued employment. The shareholders believe that this process presented an opportunity for the new owners to grow the trading business as part of a wider Group and protect the reputation and legacy of the historical brand name “Longs of Leeds.”

Principal risks and uncertainties

Going forward “Holdings” sits in a strong position as a Property/Investment business that has a robust forecast following the recent sale of the trading business. As part of the sale process, long-term lease agreements have been established, that together with sale proceeds from the disposal of “Haulage” cements the Company’s future as a property investment business. The accounts show that a land & property revaluation exercise has been completed as part of the Due Diligence and sale process and which is reflected in the Company’s Balance Sheet.

The directors believe that demand for the type and size of properties and their location should prevent exposure to any future UK downturn. The business has strong cashflow, formal lease agreements and limited exposure to overheads & running costs and therefore are confident that Holdings will continue to grow and invest as a Property Investment business. The directors are confident that revenues will increase substantially in the longer-term as market rental rates increase and further new tenant opportunities get completed. The directors also note that recent industrial development in the surrounding areas would suggest demand could increase for similar land bank opportunities.

Overall, the directors are confident that Holdings is well positioned to succeed and grow in the years ahead.

Development and performance

The cash held at the end of the year ensured the business was financially able to meet their ongoing commitments.

The directors & SLT continue to work to grow the business as a property investment enterprise.

Key performance indicators

During the 11-month period prior to the sale of the the main trading subsidiary J. Long & Sons (Haulage) Ltd., the principal risks and uncertainties faced by the company included the ongoing impact of an economic downturn, continued geo-political events and the associated impact upon demand within the sector and the corresponding unrealistic downward pressures on rates this caused.

The senior management and directors continued to address this to ensure they were in the best position they could be to ensure this did not impact on the business as they have done in previous years.

Risks identified by the directors during the year were addressed when reviewing the monthly management accounts and reports, together with regular senior management and board meetings.

Following the sale of the main trading subsidiary, the directors' primary concern is protecting the assets of the Holding Company.

J. LONG & SONS (HOLDINGS) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
Other performance indicators

Total turnover decreased by £2,865k (15.45%) for the 11 months until sale of the trading subsidiary, or £1,440k (7.77%) when grossing up to a 12-month equivalent.

GP Margin, however, increased slightly as shown as a consequence of the actions taken.

Metric 2025 (11 months) 2024

Turnover £15,674,801 £18,539,542

Cost of Sales £13,644,297 £16,261,535

GP £2,030,504 £2,278,007

GP% 13.0% 12.3%

Turnover 2025 (11 months) 2024

Traffic £13,367,979 85% £15,375,407 83%

Warehouse £1,912,375 12% £2,803,990 15%

Other £394,447 3% £360,145 2%

£15,674,801 £18,539,542

On behalf of the board

Mr M A Long
Director
26 May 2026
J. LONG & SONS (HOLDINGS) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activity of the company is that of an investment company. On 9 September 2025 the parent company sold its subsidiary, J. Long & Sons (Haulage) Limited. These financial statements present an 11 month period of trade for the subsidiary prior to the sale.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £173,022. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr S P Long
Mr M A Long
Ms D L Long
Mrs B Long
Mr D A Long
Mrs D G Long
Mrs J Long
Mr J M Long
(Appointed 13 November 2025)
Mr J C Long
(Resigned 13 November 2025)
Auditor

The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

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.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr M A Long
Director
26 May 2026
J. LONG & SONS (HOLDINGS) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -

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

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

- select suitable accounting policies and 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 directors are 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. They are 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.

J. LONG & SONS (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF J. LONG & SONS (HOLDINGS) LIMITED
- 5 -
Opinion

We have audited the financial statements of J. Long & Sons (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 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 significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 30 September 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor'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 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 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

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 directors' 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 directors' report have been prepared in accordance with applicable legal requirements.

J. LONG & SONS (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF J. LONG & SONS (HOLDINGS) LIMITED
- 6 -
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 directors' 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 directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

J. LONG & SONS (HOLDINGS) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF J. LONG & SONS (HOLDINGS) LIMITED
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias; and

- Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period.

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 will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Chris Woodroffe (Senior Statutory Auditor)
For and on behalf of Azets Audit Services Limited, Statutory Auditor
Chartered Accountants
Triune Court
Monks Cross Drive
York
YO32 9GZ
1 June 2026
J. LONG & SONS (HOLDINGS) LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
Continuing
Discontinued
30 September
Continuing
Discontinued
30 September
operations
operations
2025
operations
operations
2024
Notes
£
£
£
£
£
£
Turnover
3
-
15,674,801
15,674,801
-
18,539,542
18,539,542
Cost of sales
-
(13,644,297)
(13,644,297)
-
(16,261,535)
(16,261,535)
Gross profit
-
2,030,504
2,030,504
-
2,278,007
2,278,007
Administrative expenses
(88,738)
(2,465,654)
(2,554,392)
(906)
(2,525,030)
(2,525,936)
Other operating income
-
-
-
-
105,800
105,800
Operating loss
4
(88,738)
(435,150)
(523,888)
(906)
(141,223)
(142,129)
Interest receivable and similar income
7
-
21,569
21,569
-
21,089
21,089
Interest payable and similar expenses
8
-
(7,736)
(7,736)
-
(18,529)
(18,529)
Amounts written off investments
9
2,540,987
-
2,540,987
-
-
-
Profit/(loss) before taxation
2,452,249
(421,317)
2,030,932
(906)
(138,663)
(139,569)
Tax on profit/(loss)
10
(167,146)
(4,881)
(172,027)
-
28,584
28,584
Profit/(loss) for the financial year
2,285,103
(426,198)
1,858,905
(906)
(110,079)
(110,985)
Profit/(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.
J. LONG & SONS (HOLDINGS) LIMITED
GROUP BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
13
-
0
1,622,098
Investment property
14
3,630,000
-
0
Investments
15
-
0
255,000
3,630,000
1,877,098
Current assets
Stocks
16
-
114,411
Debtors
17
150,000
3,587,870
Cash at bank and in hand
265,239
684,743
415,239
4,387,024
Creditors: amounts falling due within one year
19
(4,400)
(3,870,802)
Net current assets
410,839
516,222
Total assets less current liabilities
4,040,839
2,393,320
Creditors: amounts falling due after more than one year
20
-
(120,064)
Provisions for liabilities
Deferred tax liability
21
167,146
85,291
(167,146)
(85,291)
Net assets
3,873,693
2,187,965
Capital and reserves
Called up share capital
23
1,400
1,400
Other reserves
-
0
155
Profit and loss reserves
3,872,293
2,186,410
Total equity
3,873,693
2,187,965

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

The financial statements were approved by the board of directors and authorised for issue on 26 May 2026 and are signed on its behalf by:
26 May 2026
Mr M A Long
Director
Company registration number 13573385 (England and Wales)
J. LONG & SONS (HOLDINGS) LIMITED
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2025
30 September 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
-
0
1,128,831
Investment property
14
3,630,000
-
0
Investments
15
-
0
1,400
3,630,000
1,130,231
Current assets
Debtors
17
150,000
-
0
Cash at bank and in hand
265,239
-
0
415,239
-
0
Creditors: amounts falling due within one year
19
(4,400)
-
Net current assets
410,839
-
0
Total assets less current liabilities
4,040,839
1,130,231
Provisions for liabilities
Deferred tax liability
21
167,146
-
0
(167,146)
-
Net assets
3,873,693
1,130,231
Capital and reserves
Called up share capital
23
1,400
1,400
Profit and loss reserves
3,872,293
1,128,831
Total equity
3,873,693
1,130,231

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £2,916,484 (2024 - £172,116 profit).

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

The financial statements were approved by the board of directors and authorised for issue on 26 May 2026 and are signed on its behalf by:
26 May 2026
Mr M A Long
Director
Company registration number 13573385 (England and Wales)
J. LONG & SONS (HOLDINGS) LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
Share capital
Merger reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 October 2023
1,400
155
2,470,417
2,471,972
Year ended 30 September 2024:
Loss and total comprehensive income
-
-
(110,985)
(110,985)
Dividends
12
-
-
(173,022)
(173,022)
Balance at 30 September 2024
1,400
155
2,186,410
2,187,965
Year ended 30 September 2025:
Profit and total comprehensive income
-
-
1,858,905
1,858,905
Dividends
12
-
-
(173,022)
(173,022)
Other movements
-
(155)
-
(155)
Balance at 30 September 2025
1,400
-
3,872,293
3,873,693
J. LONG & SONS (HOLDINGS) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2023
1,400
1,129,737
1,131,137
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
172,116
172,116
Dividends
12
-
(173,022)
(173,022)
Balance at 30 September 2024
1,400
1,128,831
1,130,231
Year ended 30 September 2025:
Profit and total comprehensive income
-
2,916,484
2,916,484
Dividends
12
-
(173,022)
(173,022)
Balance at 30 September 2025
1,400
3,872,293
3,873,693
J. LONG & SONS (HOLDINGS) LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
86,581
198,124
Interest paid
(7,736)
(18,529)
Income taxes paid
-
(93,918)
Net cash inflow from operating activities
78,845
85,677
Investing activities
Proceeds from disposal of business
(92,271)
-
Purchase of tangible fixed assets
(2,097)
(21,579)
Proceeds from disposal of tangible fixed assets
-
254,477
Interest received
21,569
21,089
Net cash (used in)/generated from investing activities
(72,799)
253,987
Financing activities
Repayment of borrowings
(201,306)
(78,452)
Repayment of bank loans
(51,222)
(66,668)
Payment of finance leases obligations
-
(51,440)
Dividends paid to equity shareholders
(173,022)
(173,022)
Net cash used in financing activities
(425,550)
(369,582)
Net decrease in cash and cash equivalents
(419,504)
(29,918)
Cash and cash equivalents at beginning of year
684,743
714,661
Cash and cash equivalents at end of year
265,239
684,743
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
1
Accounting policies
Company information

J. Long & Sons (Holdings) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 2 Church House, Cattle Lane, Aberford, Leeds, West Yorkshire, LS25 3BH.

The group consists of J. Long & Sons (Holdings) Limited and all of its subsidiaries.

1.1
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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

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. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company J. Long & Sons (Holdings) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 30 September 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.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

The Group applied the principles of merger accounting in consolidating the results, as control of J. Long & Sons (Haulage) Limited was acquired by J. Long & Sons (Holdings) Limited via a share-for-share exchange on 23 January 2023. Merger accounting requires that the results of the Group are presented as if the Group has always been in its present form, and does not require a re-evaluation of fair values as at the point of acquisition. Accordingly, as a result of this merger accounting a merger reserve is recognised within equity which represents the difference between the net assets of the group and the retained profits recognised by the group as at 23 January 2023.

1.4
Going concern

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

1.5
Turnover

Turnover represents amounts receivable for road haulage contracting and providing storage facilities net of VAT and trade discounts.

Road haulage turnover is recognised when the items are delivered, and invoiced once proof of delivery has been received.

Storage turnover is recognised to reflect the period storage services are available, as stated within rental agreements.

1.6
Tangible fixed assets

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

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

Freehold land and buildings
2% Straight line
Leasehold land and buildings
2% Straight line
Plant and equipment
15% Reducing balance or 25% Straight line
Fixtures and fittings
50% Straight line
Motor vehicles
25% Reducing balance
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 16 -

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.

1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.8
Fixed asset investments

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in or .

The investment relates to an entity in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.9
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.

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.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.10
Stocks

Fuel is valued at the lower of cost and net realisable value. Amounts recoverable on contracts are stated at the net sales realisable value of the work done after provisions for contingencies.

1.11
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.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.12
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.

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.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 18 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.13
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.

1.14
Taxation

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

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.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 19 -
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.

1.15
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.

1.16
Retirement benefits

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

1.17
Leases

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.

1.18
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are 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 current and future periods.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 20 -
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.

Depreciation

The depreciation policy has been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. It is not considered practical to use a per unit basis to allocate depreciation without undue cost and therefore amounts are charged annually. The depreciation charged during the year was £127,659 (2024 - £246,857) which the directors feel is a fair reflection of the benefits derived from the consumption of the tangible fixed assets in use during the period.

Investment property valuation

Investment property is carried at fair value determined at regular intervals by external valuers and derived from the current market rents and investment property yields for comparable real estate.

Investment property details are disclosed in note 14.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Traffic
13,367,979
15,375,407
Warehouse
1,912,375
2,803,990
Other
394,447
360,145
15,674,801
18,539,542
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
15,674,801
18,539,542
2025
2024
£
£
Other revenue
Interest income
21,569
21,089
Grants received
-
20,000
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 21 -
4
Operating loss
2025
2024
£
£
Operating loss for the year is stated after charging/(crediting):
Government grants
-
(20,000)
Fees payable to the group's auditor for the audit of the group's financial statements
28,230
19,250
Depreciation of owned tangible fixed assets
127,659
211,222
Depreciation of tangible fixed assets held under finance leases
-
18,685
Loss on disposal of tangible fixed assets
41,440
85,564
Operating lease charges
2,210,176
1,525,570
5
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
Administration and management
44
47
8
8
Drivers
87
99
-
-
Warehouse
11
12
-
-
Mechanics
2
2
-
-
Total
144
160
8
8

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
4,222,696
5,315,531
-
0
-
0
Social security costs
467,366
543,538
-
-
Pension costs
99,276
125,829
-
0
-
0
4,789,338
5,984,898
-
0
-
0
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
3,992
98,566
Company pension contributions to defined contribution schemes
-
1,543
3,992
100,109
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 22 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
21,569
21,089
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
318
-
Other interest on financial liabilities
7,044
16,091
Interest on finance leases and hire purchase contracts
374
2,438
Total finance costs
7,736
18,529
9
Amounts written off investments
2025
2024
£
£
Gain on disposal of financial assets held at cost
29,251
-
Changes in the fair value of investment properties
2,511,736
-
2,540,987
-
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
4,881
13,412
Deferred tax
Origination and reversal of timing differences
167,146
(41,996)
Total tax charge/(credit)
172,027
(28,584)
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
10
Taxation
(Continued)
- 23 -

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

2025
2024
£
£
Profit/(loss) before taxation
2,030,932
(139,569)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
507,733
(34,892)
Tax effect of expenses that are not deductible in determining taxable profit
17,973
39
Tax effect of income not taxable in determining taxable profit
(524,188)
-
0
Depreciation on assets not qualifying for tax allowances
2,642
-
0
Fixed asset difference
1,569
7,279
Other tax adjustments, reliefs and transfers
166,298
(1,010)
Taxation charge/(credit)
172,027
(28,584)
11
Discontinued operations
Disposal of J.Long & Sons (Haulage) Limited

On 9 September 2025 the company entered into a sale agreement to dispose of J.Long & Sons (Haulage) Limited.

A gain of £29,251 arose on the disposal, being the proceeds of the sale, less the carrying amount of the business assets and attributable goodwill.

12
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
173,022
173,022
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 24 -
13
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 October 2024
1,829,368
59,407
242,980
226,052
1,630,401
3,988,208
Additions
-
0
-
0
1,075
1,022
-
0
2,097
Disposals
-
0
-
0
(244,055)
(227,074)
(1,630,401)
(2,101,530)
Transfer to investment property
(1,829,368)
(59,407)
-
0
-
0
-
0
(1,888,775)
At 30 September 2025
-
0
-
0
-
0
-
0
-
0
-
0
Depreciation and impairment
At 1 October 2024
712,703
47,241
196,799
191,248
1,218,119
2,366,110
Depreciation charged in the year
10,288
279
7,901
28,903
80,288
127,659
Eliminated in respect of disposals
-
0
-
0
(204,700)
(220,151)
(1,298,407)
(1,723,258)
Transfer to investment property
(722,991)
(47,520)
-
0
-
0
-
0
(770,511)
At 30 September 2025
-
0
-
0
-
0
-
0
-
0
-
0
Carrying amount
At 30 September 2025
-
0
-
0
-
0
-
0
-
0
-
0
At 30 September 2024
1,116,665
12,166
46,181
34,804
412,282
1,622,098
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
13
Tangible fixed assets
(Continued)
- 25 -
Company
Freehold land and buildings
Leasehold land and buildings
Total
£
£
£
Cost
At 1 October 2024
1,144,035
13,963
1,157,998
Transfer to investment property
(1,144,035)
(13,963)
(1,157,998)
At 30 September 2025
-
0
-
0
-
0
Depreciation and impairment
At 1 October 2024
27,370
1,797
29,167
Depreciation charged in the year
10,288
279
10,567
Transfer to investment property
(37,658)
(2,076)
(39,734)
At 30 September 2025
-
0
-
0
-
0
Carrying amount
At 30 September 2025
-
0
-
0
-
0
At 30 September 2024
1,116,665
12,166
1,128,831
14
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 October 2024
-
-
Transfers from owner-occupied property
1,118,264
1,118,264
Net gains or losses through fair value adjustments
2,511,736
2,511,736
At 30 September 2025
3,630,000
3,630,000

Investment property comprises commercial property on Sandleas Way, Leeds. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 22 November 2024 by Carter Towler Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe that the valuation carried out continues to reflect the fair value at the balance sheet date.

Certain assets have been provided as security to a connected pension scheme.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 26 -
15
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
-
0
-
0
-
0
1,400
Unlisted investments
-
0
255,000
-
0
-
0
-
0
255,000
-
0
1,400
Movements in fixed asset investments
Group
Investments
£
Cost or valuation
At 1 October 2024
255,000
Disposals
(255,000)
At 30 September 2025
-
Carrying amount
At 30 September 2025
-
At 30 September 2024
255,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 October 2024
1,400
Disposals
(1,400)
At 30 September 2025
-
Carrying amount
At 30 September 2025
-
At 30 September 2024
1,400
16
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
-
114,411
-
-
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 27 -
17
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
-
0
2,792,529
-
0
-
0
Other debtors
150,000
3,980
150,000
-
0
Prepayments and accrued income
-
0
791,361
-
0
-
0
150,000
3,587,870
150,000
-
18
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
-
0
51,222
-
0
-
0
Other loans
-
0
201,306
-
0
-
0
-
252,528
-
-
Payable within one year
-
0
132,464
-
0
-
0
Payable after one year
-
0
120,064
-
0
-
0
19
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
18
-
0
51,222
-
0
-
0
Other borrowings
18
-
0
81,242
-
0
-
0
Trade creditors
-
0
2,999,347
-
0
-
0
Corporation tax payable
-
0
13,412
-
0
-
0
Other taxation and social security
-
0
373,870
-
0
-
0
Other creditors
-
0
92,145
-
0
-
0
Accruals and deferred income
4,400
259,564
4,400
-
0
4,400
3,870,802
4,400
-
0
20
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Other borrowings
18
-
0
120,064
-
0
-
0
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 28 -
21
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
-
85,291
Investment property
167,146
-
167,146
85,291
Liabilities
Liabilities
2025
2024
Company
£
£
Investment property
167,146
-
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 October 2024
85,291
-
Charge to profit or loss
167,146
167,146
Transfer on disposal
(85,291)
-
Liability at 30 September 2025
167,146
167,146
22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
99,276
125,829

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.

J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 29 -
23
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
263
263
263
263
Ordinary C of £1 each
263
263
263
263
Ordinary D of £1 each
263
263
263
263
Ordinary E of £1 each
263
263
263
263
Ordinary F of £1 each
87
87
87
87
Ordinary G of £1 each
87
87
87
87
Ordinary H of £1 each
87
87
87
87
Ordinary I of £1 each
87
87
87
87
1,400
1,400
1,400
1,400

The 'A', 'C', 'D', 'E', 'F', 'G', 'H' and 'I' Ordinary shares rank pari passu in all respects with each other.

24
Disposals

On 9 September 2025 the group disposed of its 100% holding in J. Long & Sons (Haulage) Limited. Included in these financial statements are losses of £426,198 arising from the company's interests in J. Long & Sons (Haulage) Limited up to the date of its disposal.

Net assets disposed of
£
Cash and cash equivalents
197,271
Property, plant and equipment
243,459
Investments
255,000
Trade and other receivables
3,199,832
Inventories
51,271
Trade and other payables
(3,634,736)
Tax liabilities
(1,057)
Deferred tax
(85,291)
225,749
Gain on disposal
29,251
Total consideration
255,000
The consideration was satisfied by:
£
Cash
105,000
Deferred consideration
150,000
-
255,000
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 30 -
25
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
-
1,512,357
-
-
Between two and five years
-
4,210,437
-
-
In over five years
-
285,085
-
-
-
6,007,879
-
-
26
Controlling party

The directors are of the opinion that there is no ultimate controlling party.

27
Cash generated from group operations
2025
2024
£
£
Profit/(loss) after taxation
1,858,905
(110,985)
Adjustments for:
Taxation charged/(credited)
172,027
(28,584)
Finance costs
7,736
18,529
Investment income
(21,569)
(21,089)
Loss on disposal of tangible fixed assets
41,440
85,564
Fair value gain on investment properties
(2,511,736)
-
0
Depreciation and impairment of tangible fixed assets
127,659
229,907
Other gains and losses
(29,251)
-
Movements in working capital:
Decrease in stocks
63,140
34,868
Decrease in debtors
464,175
200,450
Decrease in creditors
(85,945)
(210,536)
Cash generated from operations
86,581
198,124
J. LONG & SONS (HOLDINGS) LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 31 -
28
Analysis of changes in net funds - group
1 October 2024
Cash flows
30 September 2025
£
£
£
Cash at bank and in hand
684,743
(419,504)
265,239
Borrowings excluding overdrafts
(252,528)
252,528
-
432,215
(166,976)
265,239
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