REGISTERED NUMBER: 00327001 (England and Wales)

PARKSTOCK LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 APRIL 2021 TO 24 APRIL 2022

Page

Company Information

1

Strategic Report

2

to

4

Report of the Directors

5

to

6

Report of the Independent Auditors

7

to

9

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

to

21

DIRECTORS:

A J Nagle

R A Nagle

Mrs P A Nagle

Mrs M T Nagle

SECRETARY:

A J Nagle

REGISTERED OFFICE:

255 Green Lanes

Palmers Green

London

N13 4XE

REGISTERED NUMBER:

00327001 (England and Wales)

AUDITORS:

John Crook & Partners

Statutory auditors

255 Green Lanes

Palmers Green

London

N13 4XE

BANKERS:

HSBC Bank plc

Finsbury Park

312 Seven Sisters Road

London

N4 2AW

The directors present their strategic report for the period 26 April 2021 to 24 April 2022.

REVIEW OF BUSINESS

Company result:

The Company's trading income increased from £384,348 to £4.758 million, and this increase was spread over the various activities of the bowling centre, which includes entrance fees, lanes and sale of beverages. The figures were showing a significant increase over the previous year due to the forced closure in the previous year as a result of the Coronavirus pandemic. The trading profit before tax was £2.207 million, compared to a loss of £437,438 for the previous year.

The Company had net assets of £5.275 million, compared to £5.119 million in the previous year. Since re-opening following the pandemic the company has traded at a profit and has generated sufficient cash to enable dividends totalling £1,750,000 to be paid

The Company has no borrowings other than current accounts with directors and sufficient cash reserves.

PRINCIPAL RISKS AND UNCERTAINTIES

Coronavirus

The Coronavirus pandemic forced the company to close the company's operating centre from 20 March 2020 and was only able to reopen on a restricted basis in August 2020, but closed again in December 2020 until 17 May 2021.

During the time that the centre was closed the majority of its employees were furloughed but a core team was kept on to deal with management issues and also for preserving and safeguarding the company's property.

The company has no borrowings.

The company was fortunate in having adequate cash resources on the closure of the business and continued to receive rental income from its investment property.

New bowling equipment was acquired during the year and was funded out of current cash resources

Other risks and uncertainties

The business faces a number of risks on an on-going basis. The environment in which the Company operates is constantly evolving; new risks may arise and the potential likelihood and impact of known risks may change. These risks, therefore, represent a snapshot of what the Board believes are the principal risks and not an exhaustive list of all the risks the company faces.

The Board regularly monitors changes to the regulatory environment in which the Company operates. This includes monitoring and evaluating potential impacts for changes to regulation of competition, gambling, licensing, Health and Safety and general data protection regulation (GDPR). The Company has robust processes, controls and oversight of the management of regulatory risks in place, including continuous training of colleagues and use of independent expert advisors where appropriate. The Board does not currently consider any individual area of regulation change to constitute a material risk to the business, but regularly reviews and evaluates the impact any changes in legislation may have.

Risks and Uncertainties

Risk Management approach

Operational

- Deterioration of assets over time

The Company operates a site that has high footfall and high usage, in

- Loss of key personnel

particular at peak times. There is a risk that without the right level of

- Security of Clients

on-going investment the quality of the customer experience declines, impacting the customer experience and likelihood of return visits.

The Company generates cash from its operating activities and ensures

enough cash is prioritised for an on-going maintenance and

refurbishment programme.

The safety of staff and Clients is a high priority and a major item of

expense is ensuring their safety at all times.

Economic Climate

- Change in economic conditions

The Company's business is based exclusively in the UK and so is exposed to UK economic conditions and consumer confidence.

- Changes in consumer disposable income

As a leisure activity, bowling may be affected by the general level of consumer spending on leisure and the potential longer term impact that Covid 19 or the war in Ukraine may have on the economy, consumer disposable income and customer confidence to meet in social settings.

The Board believes as a relatively low-frequency and low-ticket

activity, bowling should withstand an economic downturn as long as

the centre is able to open.

The Company continually reviews its product offer, its value proposition and the quality of its estate to improve the customer experience.

Major Supplier Failure

- Sudden failure of key suppliers

The Company has a number of key suppliers that provide its bowling equipment and its beverage products. Sudden failure of these suppliers could impact the Company's ability to offer its customers the level of experience they expect.

The Company works closely with its suppliers to discuss both

operational issue and future growth plans. The Company works

closely with its food and beverage suppliers, and whilst failure

may lead to short-term disruption, alternative suppliers could be

introduced at short notice.

Energy costs

-Increase in energy price costs

The company has always taken advantage of long term energy contracts and the current contracts expire in September 2022. Although there are large increases, competitive new long term fixed rates have been negotiated. Changes are constantly being made to use greater energy efficient equipment

Business Interruption

A major incident could impact the Company's ability to keep trading.

Covid 19

At the time of preparing the report we had reopened the centre.

A pandemic that has a national impact could have an effect on the business if the site was put into quarantine, had to be closed as part of a government instruction or the site was specifically associated with the spread of a pandemic.

We are monitoring the impact of the Covid 19 pandemic in the UK on a daily basis. We are following our risk management framework and ensuring that an active risk assessment and business continuity plan is in place. The company will follow Public Health England guidance and medical and local authority advice where relevant to ensure that we respond to any developments quickly, safely and in the best interests of our people.

Regulatory Changes

New, changed or reinterpreted laws and regulations adversely impact the business or we fail to obtain required regulatory approvals or licences.

There has been the introduction and development of regulations around GDPR, constant updates to legislation around competition, bribery, carbon reporting and sustainability, modern slavery, money laundering, consumer protection and taxation. The company operates licenced premises for the sale of food, alcohol and gaming. All of these could result in reputational loss along with litigation, revocation of licences and fines leading to financial loss.

Where required, we obtain external specialist advice to assess, scope

and plan our responses to changes in legislation or in changes or

developments to our business that are touched by legislation.

Risk of Cyber Attack

A major incident could impact the Company's ability to keep trading, monitoring and threat protection. More bookings are being taken online increasing risk and there has been an increase in the level of high-profile cyber attacks in recent years which increases the risk that business information could be accessed. Cyber security is of great importance to the Company given the level of customer data it holds. The company regularly reviews the level of monitoring and threat protection systems that are in place.

Food Allergies

There have been a number of high profile incidents in the leisure industry relating to allergens in food products.Menus are reviewed for Allergen related products and wording included on the menus.

ON BEHALF OF THE BOARD:

A J Nagle - Secretary

24 August 2023

The directors present their report with the financial statements of the company for the period 26 April 2021 to 24 April 2022.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the operation of a ten-pin bowling centre in Greater London.

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary Class A £1 shares

1,225,000

- 14 March 2022

Ordinary Class B £1 shares

525,000

- 14 March 2022

The directors recommend that no final dividends be paid.

The total distribution of dividends for the period ended 24 April 2022 will be £ 1,750,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 26 April 2021 to the date of this report.

A J Nagle

R A Nagle

Other changes in directors holding office are as follows:

Mrs P A Nagle and Mrs M T Nagle were appointed as directors after 24 April 2022 but prior to the date of this report.

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are conducted in sterling. The company does not enter into any formally designated hedging arrangements.

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, John Crook & Partners, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A J Nagle - Secretary

24 August 2023

Opinion

We have audited the financial statements of Parkstock Limited (the 'company') for the period ended 24 April 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 24 April 2022 and of its profit for the period 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.

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 five, 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:

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

We identified areas of laws and regulations that could reasonable be expected to have a material effect on the financial statements through discussions with the Officers (as required by auditing standards).

We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and tax legislation. We considered tat extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the officers.

We communicated the identified laws and regulations throughout our team ad remained alert to any indications of non-compliance throughout the audit.

We addressed the risk of fraud through management override of controls, by assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentation or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

Mark L Woodgate FCA (Senior Statutory Auditor)

for and on behalf of John Crook & Partners

Statutory auditors

255 Green Lanes

Palmers Green

London

N13 4XE

3 October 2023

TURNOVER

4,757,592

384,347

Other operating income

288,719

834,473

5,046,311

1,218,820

Raw materials and consumables

611,539

68,233

4,434,772

1,150,587

Staff costs

4

1,440,508

1,087,926

Depreciation

148,245

175,848

Other operating expenses

639,780

376,114

2,228,533

1,639,888

OPERATING PROFIT/(LOSS)

5

2,206,239

(489,301

)

Interest receivable and similar income

543

1,863

PROFIT/(LOSS) BEFORE TAXATION

2,206,782

(487,438

)

Tax on profit/(loss)

7

300,184

(89,161

)

PROFIT/(LOSS) FOR THE FINANCIAL PERIOD

1,906,598

(398,277

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,906,598

(398,277

)

FIXED ASSETS

Tangible assets

9

2,402,272

2,518,389

Investment property

10

2,500,000

2,500,000

4,902,272

5,018,389

CURRENT ASSETS

Stocks

11

72,124

37,347

Debtors

12

138,009

190,780

Cash at bank and in hand

2,677,162

615,282

2,887,295

843,409

CREDITORS

Amounts falling due within one year

13

2,101,171

311,557

NET CURRENT ASSETS

786,124

531,852

TOTAL ASSETS LESS CURRENT LIABILITIES

5,688,396

5,550,241

PROVISIONS FOR LIABILITIES

14

412,428

430,871

NET ASSETS

5,275,968

5,119,370

CAPITAL AND RESERVES

Called up share capital

15

24

24

Fair value reserve

16

1,651,978

1,651,978

Retained earnings

16

3,623,966

3,467,368

SHAREHOLDERS' FUNDS

5,275,968

5,119,370

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2023 and were signed on its behalf by:

A J Nagle - Director

R A Nagle - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 27 April 2020

24

3,865,645

1,651,978

5,517,647

Changes in equity

Total comprehensive income

-

(398,277

)

-

(398,277

)

Balance at 25 April 2021

24

3,467,368

1,651,978

5,119,370

Changes in equity

Dividends

-

(1,750,000

)

-

(1,750,000

)

Total comprehensive income

-

1,906,598

-

1,906,598

Balance at 24 April 2022

24

3,623,966

1,651,978

5,275,968

Cash flows from operating activities

Cash generated from operations

1

2,700,209

(334,636

)

Tax paid

27,114

(1,593

)

Net cash from operating activities

2,727,323

(336,229

)

Cash flows from investing activities

Purchase of tangible fixed assets

(32,128

)

(260,012

)

Sale of tangible fixed assets

-

13,000

Interest received

543

1,863

Net cash from investing activities

(31,585

)

(245,149

)

Cash flows from financing activities

Amount introduced by directors

1,192,082

-

Amount withdrawn by directors

(75,940

)

(27,500

)

Equity dividends paid

(1,750,000

)

-

Net cash from financing activities

(633,858

)

(27,500

)

Increase/(decrease) in cash and cash equivalents

2,061,880

(608,878

)

Cash and cash equivalents at beginning of period

2

615,282

1,224,160

Cash and cash equivalents at end of period

2

2,677,162

615,282

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Profit/(loss) before taxation

2,206,782

(487,438

)

Depreciation charges

148,245

156,404

Loss on disposal of fixed assets

-

19,445

Finance income

(543

)

(1,863

)

2,354,484

(313,452

)

(Increase)/decrease in stocks

(34,777

)

3,611

Decrease in trade and other debtors

38,941

64,662

Increase/(decrease) in trade and other creditors

341,561

(89,457

)

Cash generated from operations

2,700,209

(334,636

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 24 April 2022

24/4/22

26/4/21

£

£

Cash and cash equivalents

2,677,162

615,282

Period ended 25 April 2021

25/4/21

27/4/20

£

£

Cash and cash equivalents

615,282

1,224,160

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 26/4/21

Cash flow

At 24/4/22

£

£

£

Net cash

Cash at bank and in hand

615,282

2,061,880

2,677,162

615,282

2,061,880

2,677,162

Total

615,282

2,061,880

2,677,162

1.	STATUTORY INFORMATION

Parkstock 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of certain assets measured at fair value in accordance with the accounting policies set out below. The accounting reference date of the company is 25 April however the accounts are made up to the closest Sunday to 30 April each year.

The financial statements are prepared in sterling which is the functional currency of the company.

As set out in the strategic report, the directors believe that the company were experiencing good levels of sales growth and profitability until it was forced to shut as a result of the Coronavirus pandemic, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of value added tax and machine games duty.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% on cost

Fixtures and fittings

-

33% on reducing balance, 25% on reducing balance and 15% on reducing balance

The company does not depreciate freehold land.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Stocks

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

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Taxation

Taxation for the period comprises current and deferred 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 period 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.

Defined contribution pension scheme

Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 2, management is required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

The critical judgments made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Sources of estimation uncertainty

Valuation of land and buildings

As described in note 11 to the financial statements, land and buildings are stated at fair value based on the valuation performed by the directors based upon their knowledge of the local market. The directors used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

4.	EMPLOYEES AND DIRECTORS

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Wages and salaries

1,348,278

1,015,337

Social security costs

73,465

58,968

Other pension costs

18,765

13,621

1,440,508

1,087,926

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

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

Office and management

9

18

Other

55

49

64

67

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Directors' remuneration

109,994

113,936

5.	OPERATING PROFIT/(LOSS)

The operating profit (2021 - operating loss) is stated after charging:

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Depreciation - owned assets

148,245

156,403

Loss on disposal of fixed assets

-

19,445

6.	AUDITORS' REMUNERATION

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

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

10,000

10,000

Total audit fees

10,000

10,000

7.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the period was as follows:

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Current tax:

UK corporation tax

318,627

(108,330

)

Deferred tax

(18,443

)

19,169

Tax on profit/(loss)

300,184

(89,161

)

UK corporation tax has been charged at 19% (2021 - 19%).

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

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

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Profit/(loss) before tax

2,206,782

(487,438

)

Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 19% (2021 - 19%)

419,289

(92,613

)

Effects of:

Capital allowances in excess of depreciation

(1,831

)

-

Utilisation of tax losses

(107,609

)

-

Adjustments to tax charge in respect of previous periods

(13,284

)

-

Depreciation on assets not qualifying for capital allowances

3,619

3,452

Total tax charge/(credit)

300,184

(89,161

)

8.

DIVIDENDS

Period

Period

26/4/21

27/4/20

to

to

24/4/22

25/4/21

£

£

Ordinary Class A shares of £1 each

Interim

1,225,000

-

Ordinary Class B shares of £1 each

Interim

525,000

-

1,750,000

-