ACCOUNTS - Final Accounts preparation

Operating profit

The operating profit is stated after charging:

Registered number: 00666952

THE LONG RAKE SPAR CO LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

THE LONG RAKE SPAR CO LIMITED

COMPANY INFORMATION

Directors	T Broadhurst
	S Hill
	K A Dean
	S T McCormick (appointed 1 May 2025)


Company secretary	J C Parkhouse


Registered number	00666952


Registered office	Long Rake
	Middleton-By-Youlgrave
	Bakewell
	Derbyshire
	DE45 1LW


Independent auditors	Shorts
	Chartered Accountants & Statutory Auditor
	2 Ashgate Road
	Chesterfield
	Derbyshire
	S40 4AA


Bankers	National Westminster Bank plc

THE LONG RAKE SPAR CO LIMITED

CONTENTS

	Page
Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditors' Report	5 - 8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Notes to the Financial Statements	12 - 27

THE LONG RAKE SPAR CO LIMITED

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2026

Introduction

The directors are pleased to present their Strategic Report for the year ended 31 March 2026.

Business review

The Company is pleased to report continued growth during the year, with revenue increasing from £34.8m to £36.0m. This growth, together with continued strong cost control, supported an increase in profit before tax from £3.2m to £4.5m.

The year-end cash position increased from £0.8m to £1.6m, while stock levels increased from £7.5m to £8.1m. Capital expenditure during the year amounted to £888k.

The business continues to operate without external funding and maintains a strong financial position.

Demand for the Company's products during the year remained strong, with the business continuing to benefit from dry conditions earlier in the year. The outlook for the 2026/27 financial year remains positive, with sales expected to follow normal seasonal demand. The business continues to focus on delivering sustainable growth while maintaining strong cost control and customer service levels.

Principal risks and uncertainties

The Board is ultimately responsible for risk management and continues to develop policies and procedures that reflect the nature and scale of the Company's business. The board has identified the following key areas of risk to the business:

Credit risk - the potential exposure to loss in the event of non-performance by a third party. The Company manages this risk through credit approval limits and ongoing monitoring of customer accounts. The Company's largest customer represents 7% of turnover.

Economic conditions - demand for the Company's products and services is closely linked to general UK economic conditions. Depressed economic conditions and a reduction in consumer spending could impact demand for the Company's products.

Raw material prices - significant increases in the cost of raw materials, fuel or energy could affect the Company's performance to the extent that such increases cannot be recovered through appropriate price increases.

Competitor activity - failure to compete effectively with competitors in terms of price, product range, quality and service could have an impact on the Company's financial results.

Foreign exchange risk - the Group uses foreign currency contracts and holds euros on deposit to reduce its exposure to movements in the value of sterling against the euro.

Health and safety – health and safety remain a core priority for the Company. No health and safety lost days were reported during the period.

People and recruitment – the long-term growth of the business depends on the Company's ability to retain and attract high-quality personnel. This risk is managed through competitive remuneration, career development opportunities, training and a strong focus on internal promotion.

Page 1

THE LONG RAKE SPAR CO LIMITED

STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

This report was approved by the board on 2 November 2026 and signed on its behalf.

T Broadhurst

Director

Page 2

THE LONG RAKE SPAR CO LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2026

The directors present their report and the financial statements for the year ended 31 March 2026.

Directors' responsibilities statement

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.

Results and dividends

The profit for the year, after taxation, amounted to £3,771,743 (2025 - £2,453,170).

Directors

The directors who served during the year were:

T Broadhurst

S Hill

K A Dean

D Travis (resigned 29 January 2026)

S T McCormick (appointed 1 May 2025)

Qualifying third-party indemnity provisions

The directors have been granted a qualifying third party indemnity provision under Section 234 of the Companies Act 2006. The indemnity does not provide cover in the event of a director being proven to have acted fraudulently or dishonestly.

Page 3

THE LONG RAKE SPAR CO LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2026

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, Shorts, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 2 November 2026 and signed on its behalf.

T Broadhurst

Director

Page 4

THE LONG RAKE SPAR CO LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED

Opinion

We have audited the financial statements of The Long Rake Spar Co Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 March 2026 and of its 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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.

Page 5

THE LONG RAKE SPAR CO LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED (CONTINUED)

Other information

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.

Opinion 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 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.

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 Directors' Report.

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, 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 Directors' Responsibilities Statement set out on page 3, 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 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.

Page 6

THE LONG RAKE SPAR CO LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED (CONTINUED)

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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

∙the engagement team collectively had the appropriate competence, capabilities and skills to identify and recognise non-compliance with applicable laws and regulations; and

∙through discussions with the directors and other management and from our commercial knowledge, we identified the laws and regulations applicable to the Company.

∙focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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

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

∙reviewed the general ledger entries during the year to identify unusual transactions;

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

∙investigated the rationale behind significant or unusual transactions.

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

∙agreeing financial statement disclosures to underlying supporting documentation;

∙reading the minutes of meetings of those charged with governance;

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

∙considering relationships with HMRC and other relevant regulators; and

∙reviewing legal and professional costs to identify any indicators of litigation.

There are inherent limitations in our audit procedures described above. The more removed that laws and

Page 7

THE LONG RAKE SPAR CO LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE LONG RAKE SPAR CO LIMITED (CONTINUED)

regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they

may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

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 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.

Andrew Irvine (Senior Statutory Auditor)

for and on behalf of

Shorts

Chartered Accountants

Statutory Auditor

2 Ashgate Road

Chesterfield

Derbyshire

S40 4AA

2 November 2026

Page 8

THE LONG RAKE SPAR CO LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2026

	2026	2025
Note	£	£


Turnover	4	35,999,610	34,822,559
Cost of sales		(26,457,518)	(25,789,426)
Gross profit		9,542,092	9,033,133
Administrative expenses		(6,239,568)	(5,932,224)
Profit/(Loss) on sale of fixed assets		1,205,203	(7,622)
Other operating income	5	932	4,369
Operating profit	6	4,508,659	3,097,656
Interest receivable and similar income	10	40,704	69,442
Interest Payable	11	(17,866)	(8,605)
Profit before tax		4,531,497	3,158,493
Tax on profit	12	(759,754)	(705,323)
Profit for the financial year		3,771,743	2,453,170

The notes on pages 12 to 27 form part of these financial statements.

Page 9

THE LONG RAKE SPAR CO LIMITED

REGISTERED NUMBER: 00666952

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	13		2,261		4,261
Tangible assets	14		6,024,341		8,080,939
Investments	15		100,100		100,100
			6,126,702		8,185,300
Current assets
Stocks	16	8,110,964		7,495,511
Debtors: amounts falling due within one year	17	6,121,814		5,687,420
Cash at bank and in hand	18	1,599,648		838,076
		15,832,426		14,021,007
Creditors: Amounts Falling Due Within One Year	19	(4,800,929)		(5,145,498)
Net current assets			11,031,497		8,875,509
Total assets less current liabilities			17,158,199		17,060,809
Creditors: Amounts Falling Due After More Than One Year	20		-		(16,900)
Provisions for liabilities
Deferred tax	23		(1,108,752)		(1,138,973)
Net assets			16,049,447		15,904,936

Capital and reserves
Called up share capital	24	6,000	6,000
Share premium account	25	34,607	34,607
Revaluation reserve	25	-	725,653
Profit and loss account	25	16,008,840	15,138,676
		16,049,447	15,904,936

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 November 2026.

T Broadhurst

Director

The notes on pages 12 to 27 form part of these financial statements.

Page 10

THE LONG RAKE SPAR CO LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Share premium account	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 April 2024	6,000	34,607	726,548	16,188,041	16,955,196

Profit for the year	-	-	-	2,453,170	2,453,170
Contributions by and distributions to owners
Dividends: Equity capital	-	-	-	(3,503,430)	(3,503,430)
Transfer to/from profit and loss account	-	-	(895)	895	-

At 1 April 2025	6,000	34,607	725,653	15,138,676	15,904,936

Profit for the year	-	-	-	3,771,743	3,771,743
Contributions by and distributions to owners
Dividends: Equity capital	-	-	-	(3,627,232)	(3,627,232)
Transfer to/from profit and loss account	-	-	(725,653)	725,653	-
At 31 March 2026	6,000	34,607	-	16,008,840	16,049,447

The notes on pages 12 to 27 form part of these financial statements.

Page 11

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Long Rake Spar Company Limited is a private company limited by shares, incorporated in England and Wales (registered number: 00666952). Its registered office is Long Rake, Middleton-By-Youlgreave, Bakewell, Derbyshire, DE45 1LW. The prinicipal activity throughout the year continued to be that of the processing and sale of calcite spar and the merchanting of other decorative aggregates.

2.Accounting policies

2.1

Basis of preparation of financial statements

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:

2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 12

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 13

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Current and deferred taxation

Tax is recognised in the Statement of income and retained earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

The recognition of deferred tax assets is limited to the extent that is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

2.11

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life and are amortised on the straight line basis over the length of that life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Goodwill

years

Page 14

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Freehold property	-	2.5% straight line on buildings only
Plant and machinery	-	10% reducing balance
Motor vehicles	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance

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.

2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 15

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.19

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have the greatest level of uncertainty are addressed below:

(i) Impairment of debtors
The company makes an estimate of the recoverable value of trade debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the aging profile of debtors and historical experience. The amount of trade debtors after making such provision was £5,639,464 (2025:£5,530,007).

Page 16

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Turnover

An analysis of turnover by class of business is as follows:
	2026	2025
	£	£

	Sale of goods	35,999,610	34,822,559

Analysis of turnover by country of destination:

					2026	2025
					£	£

United Kingdom	35,496,744	34,432,094
Rest of Europe	339,692	321,636
Rest of the world	163,174	68,829
	35,999,610	34,822,559

5.	Other operating income
		2026	2025
		£	£

Insurance claims receivable	-	3,229
Sundry income	932	1,140
	932	4,369

Depreciation	688,458	667,104
Amortisation	2,000	4,071
Exchange differences	22,990	(14,836)
Other operating lease rentals	73,750	56,375
Pension costs	91,413	90,833

Page 17

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Fees payable to the Company's auditors for the audit of the Company's financial statements

26,000

24,000

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Wages and salaries	4,048,837	3,834,138
Cost of defined contribution scheme	91,413	90,833
	4,140,250	3,924,971

The average monthly number of employees, including the directors, during the year was as follows:

	2026	2025
	No.	No.

Production	60	53
Administration	43	39

	103	92

Page 18

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

9.	Directors' remuneration
		2026	2025
		£	£

Directors' emoluments	371,333	282,789
Company contributions to defined contribution pension schemes	9,980	10,567
	381,313	293,356

	During the year retirement benefits were accruing to 3 directors (2025 - 3) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £107,777 (2025 - £117,869).
	The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £3,522 (2025 - £3,522).

10.	Interest receivable
		2026	2025
		£	£

Other interest receivable

40,704

69,442

11.	Interest payable and similar expenses
		2026	2025
		£	£

Finance leases and hire purchase contracts	6,499	8,605
Other interest payable	11,367	-
	17,866	8,605

Page 19

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Corporation tax
Current tax on profits for the year	833,333	785,447
Adjustments in respect of previous periods	(43,358)	-

Total current tax	789,975	785,447

Deferred tax
Origination and reversal of timing differences	(30,221)	(80,124)
Total deferred tax	(30,221)	(80,124)


	Tax on profit	759,754	705,323

Profit on ordinary activities before tax

4,531,498

3,158,493

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)	1,132,875	789,619
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	8,890	6,318
Capital allowances for year in excess of depreciation	(485,975)	3,644
Other tax adjustments, reliefs and transfers	107,591	-
Group relief	(3,627)	(94,258)
Total tax charge for the year	759,754	705,323

Page 20

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

13.	Intangible assets

	Computer software	Goodwill	Total
	£	£	£
Cost
At 1 April 2025	10,000	49,000	59,000
At 31 March 2026	10,000	49,000	59,000
Amortisation
At 1 April 2025	5,739	49,000	54,739
Charge for the year on owned assets	2,000	-	2,000
At 31 March 2026	7,739	49,000	56,739
Net book value
At 31 March 2026	2,261	-	2,261
At 31 March 2025	4,261	-	4,261

Page 21

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

14.	Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost
At 1 April 2025	3,020,116	9,478,124	203,558	411,212	13,113,010
Additions	231,074	610,554	-	46,827	888,455
Disposals	(2,868,755)	-	-	-	(2,868,755)
At 31 March 2026	382,435	10,088,678	203,558	458,039	11,132,710
Depreciation
At 1 April 2025	587,216	4,014,654	122,153	308,048	5,032,071
Charge for the year on owned assets	42,506	560,897	19,993	31,075	654,471
Charge for the year on financed assets	-	33,987	-	-	33,987
Disposals	(612,160)	-	-	-	(612,160)
At 31 March 2026	17,562	4,609,538	142,146	339,123	5,108,369
Net book value
At 31 March 2026	364,873	5,479,140	61,412	118,916	6,024,341
At 31 March 2025	2,432,900	5,463,470	81,405	103,164	8,080,939

Included in land and buildings is freehold land at valuation of £nil (2025: £1,198,993) which is not depreciated.

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2026	2025
	£	£


	Plant and machinery	126,623	140,693

Page 22

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

15.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2025	100,100
	At 31 March 2026	100,100

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Class of shares	Holding

Romney Holdings Limited

Ordinary

100%

16.	Stocks
		2026	2025
		£	£

Raw materials and consumables	8,110,964	7,495,511
	8,110,964	7,495,511

Stock recognised in cost of sales during the year as an expense was £23,813,111 (2025: £23,239,636).

17.

Debtors

					2026	2025
					£	£


Trade debtors	5,639,464	5,530,007
Amounts owed by group undertakings	161,639	-
Other debtors	153,262	119,219
Prepayments and accrued income	167,449	38,194
	6,121,814	5,687,420

Page 23

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

18.	Cash and cash equivalents
		2026	2025
		£	£

	Cash at bank and in hand	1,599,648	838,076

19.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank loans	2,981	2,981
Trade creditors	3,380,592	3,417,178
Amounts owed to group undertakings	103,326	101,650
Corporation tax	358,586	549,447
Other taxation and social security	525,912	540,281
Obligations under finance lease and hire purchase contracts	16,900	50,700
Other creditors	13,291	13,201
Accruals and deferred income	399,341	470,060
	4,800,929	5,145,498

20.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

	Net obligations under finance leases and hire purchase contracts	-	16,900

Within one year	16,900	50,700
Between 1-5 years	-	16,900
	16,900	67,600

The hire purchase contracts are secured upon the assets to which they relate.

Page 24

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

22.	Financial instruments
		2026	2025
		£	£

	Financial assets
	Financial assets that are debt instruments measured at amortised cost	6,206,411	5,649,226

	Financial liabilities
	Financial liabilities measured at amortised cost	3,916,431	4,072,670

	Financial assets that are debt instruments measured at amortised cost comprise trade debtors and other debtors.
	Financial liabilities measured at amortised cost comprise bank loans, trade creditors, amounts due to group undertakings, obligations under hire purchase contracts, other creditors and accruals.

23.	Deferred taxation

		2026
		£

	At beginning of year	1,138,973
	Charged to profit or loss	(30,221)
	At end of year	1,108,752

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

Accelerated capital allowances	1,258,650	1,280,244
Movement in provisions	(149,898)	(141,271)
	1,108,752	1,138,973

Page 25

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

24.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

6,000 (2025 - 6,000) Ordinary shares of £1.00 each	6,000	6,000

25.

Reserves

Share premium account

Share premium reserve represents the amount above the nominal value received for shares sold, less transaction costs.

Revaluation reserve

Revaluation reserve represents the surplus or deficit arising on the valuation of certain assets by the company.

Profit and loss account

Profit and loss account represents all current and prior period retained profits and losses and is all considered to be distributable.

26.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £91,413 (2025: £90,833).

Not later than 1 year	90,000	-
Later than 1 year and not later than 5 years	135,000	-
	225,000	-

Page 26

THE LONG RAKE SPAR CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

28.

Related party transactions

Included in creditors is an amount of £101,100 (2025: £101,100) due to Romney Holdings Limited, a wholly owned subsidiary of Long Rake Spar Limited and an amount of £2,226 (2025: £550) due to Broadhurst land & Farms Limited, a wholly owned subsidiary of LRS Broadhurst Holdings Limited. The loana are interest free and repayable on demand.

Included in debtors is an amount of £40,584 (2025: £nil) is due from Broadhurst Rye Harbour Holdings Limited, a wholly owned subsidiary of LRS Broadhurst Holdings Limited. An amount of £361,550 (2025: £nil) is due from the parent company LRS Broadhurst Holdings and an amount of £13,848 is due from HRRD Limited a wholly owned subsidiary of LRS Broadhurst Holdings Limited. These loans are interest free and repayable on demand.

Also included in debtors is an amount of £446,393 (2025: £334,703) due to an entity under the control of the ultimate controlling party. This loan is interest free and repayable on demand.

29.	Controlling party

The company is controlled by T Broadhurst via his 100% shareholding in the company's parent company LRS Broadhurst Holdings Limited.

Page 27