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Registered number:
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L JACKSON & CO LIMITED
Company Information
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L JACKSON & CO LIMITED
Contents
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L JACKSON & CO LIMITED
Strategic Report
For the year ended 31 August 2025
The directors present the Strategic Report for the year below:
The company continues its primary operations in the trade of ex-military vehicles and equipment. Trade for the year has again been strong, with turnover increasing to £26.97m (2024: £24.9m), reflecting continued robust demand in both domestic and international markets. Global geopolitical instability, including ongoing conflicts across Eastern Europe and the Middle East, has sustained elevated demand for ex-military assets, and the business has been well positioned to capitalise on this environment.
Gross profit margins have improved modestly to 64.7% (2024: 61.8%), reflecting a continued focus on higher-value stock lines and disciplined procurement. Net profit margin of 39.4% (2024: 43.3%) reflects increased investment in the business during the year, including capital expenditure on infrastructure at the Doncaster site and an ongoing investment in operational capacity to support future growth. The Directors remain focused on maintaining the quality and breadth of stock held, ensuring the business retains its established reputation for reliability and expertise in this specialist sector. The company continues to serve a diverse customer base across both the UK and international markets, with foreign exchange management remaining an integral part of the trading operation.
The company has always faced numerous business risks and uncertainties set out below along with the company’s approach to mitigating those risks:
Supply Chain – The Directors continue to regard supply chain as the most significant risk facing the business. The company procures stock through a small number of key suppliers and governmental bodies, and the availability of suitable procurement opportunities has remained constrained, in part due to the diversion of assets to active theatre use as a consequence of ongoing global conflicts. To mitigate this risk, the Directors are actively pursuing diversified supply chain opportunities within the sector and maintaining strong relationships with established procurement channels. Decline in demand – The company operates in a relatively niche sector and there is an inherent risk of demand deterioration, particularly as technological advances and more stringent environmental regulations continue to restrict the use and export of certain equipment types. To mitigate this, the Directors ensure that the company maintains a wide variety of stock and is continually identifying new lines and market opportunities to add to the business. Macroeconomic uncertainty – The UK macroeconomic environment continues to present challenges, with sustained pressure on labour costs, materials, and overheads. Whilst the rate of inflation has moderated relative to prior years, the cumulative impact of cost inflation over recent periods remains a feature of the operating environment. The company’s exposure to UK-only economic conditions is partially mitigated by its international sales activity, which provides a degree of natural diversification. Foreign exchange – Currency risk remains relevant given the company’s procurement activity in Europe and the US, as well as its international sales. To manage this exposure, the Directors continue to monitor exchange rates actively with brokers and utilise hedging arrangements where appropriate to reduce the potential impact of adverse currency movements on margins. Regulatory and compliance risk – The import and export of military and ex-military equipment is subject to ongoing regulatory oversight, including export licensing requirements. The Directors monitor changes to legislation and government policy in this area closely and take appropriate professional advice to ensure the company remains fully compliant with all applicable regulations. The Directors anticipate that the above will continue to be key risks to the business and are committed to their ongoing monitoring and management.
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L JACKSON & CO LIMITED
Strategic Report (continued)
For the year ended 31 August 2025
The key performance indicators of the business are turnover, gross profit margin and net profit margin. Given the nature of the business, the Directors are of the belief that the financial statements provide sufficient analysis for an understanding of the development and performance of the business.
The results for the year are turnover of £26.97m (2024: £24.9m), gross profit margin of 64.7% (2024: 61.8%) and net profit margin of 39.4% (2024: 43.3%). The increase in turnover and improvement in gross margin reflects continued strong trading conditions and a focus on higher-value stock. The reduction in net profit margin reflects increased investment in the business during the year, including significant capital expenditure on the Doncaster site infrastructure.
This report was approved by the board on 27 August 2026 and signed on its behalf.
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L JACKSON & CO LIMITED
Directors' Report
For the year ended 31 August 2025
The directors present their report and the financial statements for the year ended 31 August 2025.
The profit for the year, after taxation, amounted to £10,641,270 (2024 - £10,795,920).
Details of dividends paid are shown in the notes to the accounts.
The directors who served during the year were:
The auditors, AAB Audit & Accountancy Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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L JACKSON & CO LIMITED
Directors' Responsibilities Statement
For the year ended 31 August 2025
The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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L JACKSON & CO LIMITED
Independent Auditors' Report to the Members of L Jackson & Co Limited
We have audited the financial statements of L Jackson & Co Limited (the 'Company') for the year ended 31 August 2025, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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L JACKSON & CO LIMITED
Independent Auditors' Report to the Members of L Jackson & Co Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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L JACKSON & CO LIMITED
Independent Auditors' Report to the Members of L Jackson & Co Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and UK Taxation legislation. We identified health and safety regulations, company law, employment law, exporting regulations and tax legislation as the areas most likely to have such an effect. We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:
∙Management override of controls to manipulate the company’s key performance indicators to meet target
∙Timing of revenue recognition
∙Stock provisions
∙Compliance with relevant laws and regulations which directly impact the financial statements and those that the company needs to comply with for the purpose of trading
Our audit procedures to respond to these risks included:
∙Testing of journal entries and other adjustments for appropriateness
∙Sales cut off and transaction testing was performed to ensure revenue was recognised correctly
∙Detailed review of stock provision calculations
∙Evaluating the business rationale of significant transactions outside the normal course of business
∙Enquiries of management about litigation and claims and inspection of relevant correspondence
∙Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations
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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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L JACKSON & CO LIMITED
Independent Auditors' Report to the Members of L Jackson & Co Limited (continued)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Gresham House
5-7 St Pauls Street
LS1 2JG
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L JACKSON & CO LIMITED
Statement of Income and Retained Earnings
For the year ended 31 August 2025
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L JACKSON & CO LIMITED
Registered number: 07533695
Statement of Financial Position
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 11 to 26 form part of these financial statements.
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
The company is a private company (No 07533695) limited by shares, registered in England and Wales. The principal activity of the company during the year was the sale of plant and machinery and other motor vehicles. The address of the registered office is Rocket Site Misson, Bawtry, Doncaster, South Yorkshire, DN10 6ET, United Kingdom.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have therefore continued to adopt the going concern basis of accounting in preparing the financial statements.
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of L Jackson & Co Holdings Ltd which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) No disclosure has been given for the aggregate remuneration of key management personnel.
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic 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 Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
2.Accounting policies (continued)
loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
The estimates and assumptions which have a heightened risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: Provision for old and slow moving stock The directors estimate the provision for old and slow moving stock based on the age of the particular item. When assessing the value of the provision the directors have considered factors such as previous provisions against similar items and any post year end sales.
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
Analysis of turnover by country of destination:
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
Page 20
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
13.Taxation (continued)
There were no factors that may affect future tax charges.
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
Page 23
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
Page 24
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
Page 25
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L JACKSON & CO LIMITED
Notes to the Financial Statements
For the year ended 31 August 2025
A customs review completed in May 2026 identified a liability that materially affects the financial statements for the year ended 31 August 2024. As a result, a prior period adjustment has been made.
A liability of £577,604 in relation to duty owed has been recognised. The impact on cost of sales for the year ended 31 August 2024 is £407,902 (increase in cost of sales) and the increase in stock is £169,702. As a result of the prior period adjustments the corporation tax recoverable at 31 August 2024 has been increased by £100,000. The impact of the recognition of this liability on opening reserves at 1 September 2023 is not material. The impact of the balance sheet as a result of this prior period adjustment is:
The immediate parent undertaking and controlling party is
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