REGISTERED NUMBER: 00858063 (England and Wales)

Jordan & Company (Hull) Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st December 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

T J Rix

S J Rix

P J Hasnip

R M A Clarke

D J Lambert

J I Doyle

R E Wilde

H J Rix

M Fry

REGISTERED OFFICE:

45-52 Witham

Kingston Upon Hull

East Yorkshire

HU9 1BS

REGISTERED NUMBER:

00858063 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

HU2 8BA

The directors present their strategic report for the year ended 31st December 2025.

REVIEW OF BUSINESS

Jordan & Company has historically operated a Stellantis dealership, including Fiat, Abarth, Jeep and Alfa Romeo passenger vehicles alongside Fiat Professional commercial vehicles. During 2024, the company ceased to operate as a Stellantis car dealership and transitioned to focus on commercial vehicles, retaining the Fiat Professional brand and adding the Peugeot LCV brand. In addition, the company expanded into the sale of new and used motorhomes and campervans.

2025 represents the first full year operating under this revised business model. The wider market remained challenging, with higher interest rates continuing to impact consumer demand for vehicles. As a result, turnover reduced to £23.4m, reflecting the absence of passenger car sales and a lower overall level of activity compared to the prior year.

Despite the reduction in turnover, the revised business model delivered an improvement in gross profit and overall trading performance. Losses reduced significantly to £0.1m compared to £0.5m in the previous year, reflecting improved margins and a more focused cost base as the business adapts to its new structure.

The company also continues to supply vehicle chassis for conversion into motorhomes and specialist vehicles. While supply constraints have eased compared to previous years, availability of chassis units continues to influence activity levels within this segment.

Following the year end, the business ceased trading within Jordan & Company (Hull) Limited on 31 December 2025, with all trading activities transferring to Jordans Motors Limited. This transition forms part of the group’s ongoing strategy to reposition and develop the business under a revised operating structure.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties affecting the business include the following: -

- Debtors: the company maintains strong relationships with its key customers through its sales team. In addition, the company operates a defined credit control policy.

- Pension funding risk: the company offers both a defined contribution scheme and a stakeholder pension scheme. The company does not operate a final salary scheme.

- Environmental risks: the company places considerable emphasis on environmental compliance and not only seeks to ensure on-going compliance with the relevant legislation but strives to ensure that best practice is incorporated into its key processes.

- Major disruption/disaster: the company has contingency plans which it reviews regularly. The IT infrastructure includes a full back up service off site.

- Legislation: the company monitors current and forthcoming legislation regularly both directly and through membership of various trade associations. The company not only seeks to ensure on-going compliance but strives to ensure that it incorporates best practice.

- Litigation: the company is subject to litigation from time to time. The outcome of legal action is always uncertain and there is always the risk that it may prove more costly and time consuming than expected. There is a risk that litigation could be instigated in the future which could materially impact the company. The company endeavours to maintain adequate insurance levels for all appropriate insurable risks.

- Competitive risk: the company operates within a highly competitive market. The company maintains many supply options and has control over its own storage and logistics chain. Investment, legislation and supply barriers in the market are significant for smaller operators and new entrants.

- Sales & Marketing: new and replacement business is being won continually. New and existing markets have been developed in line with the company's strategy. Key customer relationships are monitored on a regular basis.

- Cyber Security: the company recognises the growing threat of cyber and cyber enabled fraud and has measures in place to protect its systems and information from attack. It continues to assess and upgrade its procedures and systems as the cyber threat develops and evolve.

ON BEHALF OF THE BOARD:

R E Wilde - Director

20th July 2026

The directors present their report with the financial statements of the company for the year ended 31st December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of selling commercial vehicles and motor homes.

DIVIDENDS

No dividends will be distributed for the year ended 31st December 2025.

EVENTS SINCE THE END OF THE YEAR

On 1 January 2026, the company transferred its trade and associated assets and liabilities to a previously dormant fellow group company as part of an internal group reorganisation. As the transaction occurred after the year end, it is not reflected in the financial statements for the year ended 31 December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2025 to the date of this report.

T J Rix

S J Rix

P J Hasnip

R M A Clarke

D J Lambert

J I Doyle

R E Wilde

H J Rix

Other changes in directors holding office are as follows:

M Fry - appointed 31st March 2025

DISCLOSURE IN THE STRATEGIC REPORT

We have covered our strategic intent, future developments and risk in this section and feel there is nothing more to add.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 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 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment in accordance with section 485 of the companies Act 2006.

ON BEHALF OF THE BOARD:

R E Wilde - Director

20th July 2026

Opinion

We have audited the financial statements of Jordan & Company (Hull) Limited (the 'company') for the year ended 31st December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 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 company's affairs as at 31st December 2025 and of its loss 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 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.

Emphasis of matter

We draw attention to note 18 of the financial statements, which describes the transfer of the company’s trade and certain assets to a previously dormant fellow group undertaking on 1 January 2026. As the transaction occurred after the reporting date, it has not been reflected in the financial statements for the year ended 31 December 2025.

Our opinion is not modified in respect of this matter.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors 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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Report of the Directors.

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

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

-	the 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 Statement of Directors' Responsibilities set out on page four, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

Due to 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Michael Stocks FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

HU2 8BA

20th July 2026

TURNOVER

23,806,017

33,649,967

Cost of sales

21,756,439

31,970,442

GROSS PROFIT

2,049,578

1,679,525

Administrative expenses

1,851,456

2,261,173

198,122

(581,648

)

Other operating income

45,789

49,869

OPERATING PROFIT/(LOSS)

4

243,911

(531,779

)

Interest payable and similar expenses

5

344,141

-

LOSS BEFORE TAXATION

(100,230

)

(531,779

)

Tax on loss

6

133,000

(132,943

)

LOSS FOR THE FINANCIAL YEAR

(233,230

)

(398,836

)

CURRENT ASSETS

Stocks

7

9,544,165

3,857,401

Debtors

8

961,681

1,115,746

Cash in hand

678

558

10,506,524

4,973,705

CREDITORS

Amounts falling due within one year

9

11,042,885

5,276,836

NET CURRENT LIABILITIES

(536,361

)

(303,131

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(536,361

)

(303,131

)

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

13

(537,361

)

(304,131

)

SHAREHOLDERS' FUNDS

(536,361

)

(303,131

)

The financial statements were approved by the Board of Directors and authorised for issue on 20th July 2026 and were signed on its behalf by:

T J Rix - Director

R E Wilde - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st January 2024

1,000

94,705

95,705

Changes in equity

Total comprehensive income

-

(398,836

)

(398,836

)

Balance at 31st December 2024

1,000

(304,131

)

(303,131

)

Changes in equity

Total comprehensive income

-

(233,230

)

(233,230

)

Balance at 31st December 2025

1,000

(537,361

)

(536,361

)

1.	STATUTORY INFORMATION

Jordan & Company (Hull) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Going concern

The accounts have been prepared on the going concern basis and support of the parent company will be provided if required.

Subsequent to the year end, the company transferred its trade and related operating activities to a fellow group undertaking. Following the transfer, the company’s activities are limited to the collection of outstanding receivables and the settlement of remaining liabilities, after which the company is expected to become dormant.

The directors consider that the post year end transfer does not affect the appropriateness of the going concern basis of preparation for these financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

Turnover

Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities, all of which are continuing, stated net of value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for any obsolete or slow moving items.

Cost represents the expenditure which has been incurred in the normal course of business in bringing the product to its present location and condition. Net realisable value means estimated selling price less all further costs to completion.

Taxation

Taxation for the year comprises of current tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company is part of a group that operates a money purchase pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the pension scheme during the year.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,248,311

1,127,235

Social security costs

125,105

95,718

Other pension costs

30,806

162,646

1,404,222

1,385,599

The average number of employees during the year was as follows:

2025

2024

Management

5

6

Administration

6

12

Others

24

18

35

36

2025

2024

£

£

Directors' remuneration

54,632

76,279

Directors' pension contributions to money purchase schemes

4,698

128,374

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging/(crediting):

2025

2024

£

£

Pension costs

30,806

162,646

Car park income

(45,789

)

(49,869

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

344,141

-

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

133,000

(132,943

)

Tax on loss

133,000

(132,943

)

Reconciliation of total tax charge/(credit) included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Loss before tax

(100,230

)

(531,779

)

Loss multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(25,058

)

(132,945

)

Effects of:

Expenses not deductible for tax purposes

128

-

Over provided in prior year

157,930

2

Total tax charge/(credit)

133,000

(132,943

)

7.

STOCKS

2025

2024

£

£

Used vehicles, petrol and oil

4,080,590

2,448,525

New vehicles

5,463,575

1,408,876

9,544,165

3,857,401

Stock includes an impairment loss charge of £57,167 (2024: £82,253 gain) in relation to slow moving and obsolete stock.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

120,455

464,595

Amounts owed by group undertakings

561,822

67,718

Other debtors

279,404

450,433

Tax

-

133,000

961,681

1,115,746

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank overdraft (secured) (see note 10)

6,544,445

1,405,163

Trade creditors

4,457,258

2,644,276

Amounts owed to group undertakings

6,424

1,056,994

Other creditors

-

115,929

Accrued expenses

34,758

54,474

11,042,885

5,276,836

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

6,544,445

1,405,163

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

6,544,445

1,405,163

The bank overdraft is secured by a composite guarantee between certain group companies and legal mortgages over certain properties, land and vessels.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

13.

RESERVES

Retained

earnings

£

At 1st January 2025

(304,131

)

Deficit for the year

(233,230

)

At 31st December 2025

(537,361

)

The retained earnings represent cumulative profits and losses net of dividends.

14.	PENSION COMMITMENTS

The company is part of a group that operates a money purchase pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions of £30,806 (2024: £162,646) payable to these pension schemes during the year. The amounts outstanding at the year end were £Nil (2024: £Nil).

15.	ULTIMATE PARENT COMPANY

16.	CONTINGENT LIABILITIES

The company is party to an unlimited debenture, omnibus guarantee and set-off agreement in favour of Lloyds Banking Group in respect of group borrowings. The potential liability under this agreement amounted to £45,955,891 (2024: £44,495,000).

17.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

18.	POST BALANCE SHEET EVENTS

On 1 January 2026, the company transferred its trade, employees and related operating assets and liabilities to a previously dormant fellow group undertaking. As the transaction occurred after the reporting date, it is classified as a non-adjusting event under FRS 102 Section 32. No gain or loss has been recognised in these financial statements as the transfer took place after the year end.

Following the transfer, the company ceased trading and is expected to remain dormant.

19.	ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party.