REGISTERED NUMBER: 09777459 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year Ended 31 December 2023 |
for |
York Roast Co Group Limited |
REGISTERED NUMBER: 09777459 (England and Wales) |
Report of the Director and |
Unaudited Consolidated Financial Statements for the Year Ended 31 December 2023 |
for |
York Roast Co Group Limited |
York Roast Co Group Limited (Registered number: 09777459) |
Contents of the Consolidated Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Chartered Certified Accountants' Report | 3 |
Consolidated Income Statement | 4 |
Consolidated Other Comprehensive Income | 5 |
Consolidated Statement of Financial Position | 6 |
Company Statement of Financial Position | 8 |
Consolidated Statement of Changes in Equity | 10 |
Company Statement of Changes in Equity | 11 |
Notes to the Consolidated Financial Statements |
12 |
York Roast Co Group Limited |
Company Information |
for the year ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 President Buildings |
Savile Street East |
Sheffield |
South Yorkshire |
S4 7UQ |
BANKERS: |
13 Parliament Street |
York |
YO1 8XS |
York Roast Co Group Limited (Registered number: 09777459) |
Report of the Director |
for the year ended 31 December 2023 |
The director presents his report with the financial statements of the company and the group for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company is that of a holding company. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
York Roast Co Group Limited |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of York Roast Co Group Limited for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and the related notes from the company's and the group's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of York Roast Co Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of York Roast Co Group Limited and state those matters that we have agreed to state to the director of York Roast Co Group Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the group and the company's director for our work or for this report. |
It is your duty to ensure that York Roast Co Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of York Roast Co Group Limited. You consider that York Roast Co Group Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of York Roast Co Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Royston Parkin Limited |
2 President Buildings |
Savile Street East |
Sheffield |
South Yorkshire |
S4 7UQ |
23 May 2024 |
York Roast Co Group Limited (Registered number: 09777459) |
Consolidated |
Income Statement |
for the year ended 31 December 2023 |
Period |
1.2.22 |
Year Ended | to |
31.12.23 | 31.12.22 |
Notes | £ | £ |
REVENUE | 2,385,535 | 2,126,428 |
Cost of sales | 688,242 | 658,200 |
GROSS PROFIT | 1,697,293 | 1,468,228 |
Administrative expenses | 1,565,916 | 1,404,389 |
131,377 | 63,839 |
Other operating income | 6,438 | 323,238 |
OPERATING PROFIT | 4 | 137,815 | 387,077 |
Interest receivable and similar income |
7 |
14 |
137,822 | 387,091 |
Interest payable and similar expenses |
887 |
1,282 |
PROFIT BEFORE TAXATION | 136,935 | 385,809 |
Tax on profit | 5 | 30,356 | 75,174 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 106,579 | 310,635 |
York Roast Co Group Limited (Registered number: 09777459) |
Consolidated |
Other Comprehensive Income |
for the year ended 31 December 2023 |
Period |
1.2.22 |
Year Ended | to |
31.12.23 | 31.12.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 106,579 | 310,635 |
OTHER COMPREHENSIVE INCOME |
Share Buyback | - | (401,930 | ) |
Income tax relating to other comprehensive income |
- |
- |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
- |
(401,930 |
) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
106,579 |
(91,295 |
) |
Total comprehensive income attributable to: |
Owners of the parent | 106,579 | (91,295 | ) |
York Roast Co Group Limited (Registered number: 09777459) |
Consolidated Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 | 37,283 | 37,283 |
Property, plant and equipment | 9 | 362,818 | 296,714 |
400,101 | 333,997 |
CURRENT ASSETS |
Inventories | 10,903 | 13,822 |
Debtors | 10 | 364,272 | 451,378 |
Prepayments and accrued income | 11,528 | 11,328 |
Cash at bank and in hand | 298,667 | 349,661 |
685,370 | 826,189 |
CREDITORS |
Amounts falling due within one year | 12 | 388,669 | 480,113 |
NET CURRENT ASSETS | 296,701 | 346,076 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
696,802 |
680,073 |
CREDITORS |
Amounts falling due after more than one year |
13 |
(15,045 |
) |
(25,279 |
) |
PROVISIONS FOR LIABILITIES | 15 | (11,973 | ) | (9,589 | ) |
NET ASSETS | 669,784 | 645,205 |
York Roast Co Group Limited (Registered number: 09777459) |
Consolidated Statement of Financial Position - continued |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 130 | 130 |
Capital redemption reserve | 70 | 70 |
Retained earnings | 669,584 | 645,005 |
SHAREHOLDERS' FUNDS | 669,784 | 645,205 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The director acknowledges his responsibilities for: |
(a) | ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group. |
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved by the director and authorised for issue on 23 May 2024 and were signed by: |
W A Chadwick - Director |
York Roast Co Group Limited (Registered number: 09777459) |
Company Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Property, plant and equipment | 9 |
CURRENT ASSETS |
Debtors | 10 |
Investments | 11 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET ASSETS |
York Roast Co Group Limited (Registered number: 09777459) |
Company Statement of Financial Position - continued |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year |
95,779 |
306,489 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
York Roast Co Group Limited (Registered number: 09777459) |
Consolidated Statement of Changes in Equity |
for the year ended 31 December 2023 |
Called up | Capital |
share | Retained | Revaluation | redemption | Total |
capital | earnings | reserve | reserve | equity |
£ | £ | £ | £ | £ |
Balance at 1 February 2022 | 200 | 810,640 | 12,730 | - | 823,570 |
Changes in equity |
Issue of share capital | (70 | ) | - | - | - | (70 | ) |
Dividends | - | (87,000 | ) | - | - | (87,000 | ) |
Total comprehensive income | - | (78,635 | ) | (12,730 | ) | 70 | (91,295 | ) |
Balance at 31 December 2022 | 130 | 645,005 | - | 70 | 645,205 |
Changes in equity |
Dividends | - | (82,000 | ) | - | - | (82,000 | ) |
Total comprehensive income | - | 106,579 | - | - | 106,579 |
Balance at 31 December 2023 | 130 | 669,584 | - | 70 | 669,784 |
York Roast Co Group Limited (Registered number: 09777459) |
Company Statement of Changes in Equity |
for the year ended 31 December 2023 |
Called up | Capital |
share | Retained | Revaluation | redemption | Total |
capital | earnings | reserve | reserve | equity |
£ | £ | £ | £ | £ |
Balance at 1 February 2022 |
Changes in equity |
Issue of share capital | ( |
) | - | - | - | ( |
) |
Dividends | - | ( |
) | - | - | ( |
) |
Total comprehensive income | - | ( |
) | ( |
) | ( |
) |
Balance at 31 December 2022 |
Changes in equity |
Dividends | - | ( |
) | - | - | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2023 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
York Roast Co Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of consolidation |
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31st January 2022. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 statement of financial position date. |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
Period |
1.2.22 |
Year Ended | to |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets | 56,194 | 65,883 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
Period |
1.2.22 |
Year Ended | to |
31.12.23 | 31.12.22 |
£ | £ |
Current tax: |
UK corporation tax | 27,972 | 89,862 |
Deferred tax | 2,384 | (14,688 | ) |
Tax on profit | 30,356 | 75,174 |
Tax effects relating to effects of other comprehensive | income |
There were no tax effects for the year ended 31 December 2023. |
1.2.22 to 31.12.22 |
Gross | Tax | Net |
£ | £ | £ |
Share Buyback | (401,930 | ) | - | (401,930 | ) |
6. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
7. | DIVIDENDS |
Period |
1.2.22 |
Year Ended | to |
31.12.23 | 31.12.22 |
£ | £ |
Ordinary shares of 1 each |
Interim | 82,000 | 87,000 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
8. | INTANGIBLE FIXED ASSETS |
Group |
Patents |
and |
Goodwill | licences | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 | 30,000 | 37,283 | 67,283 |
AMORTISATION |
At 1 January 2023 |
and 31 December 2023 | 30,000 | - | 30,000 |
NET BOOK VALUE |
At 31 December 2023 | - | 37,283 | 37,283 |
At 31 December 2022 | - | 37,283 | 37,283 |
Company |
Patents |
and |
Goodwill | licences | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
9. | PROPERTY, PLANT AND EQUIPMENT |
Group |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 | 335,394 | 298,216 | 26,176 | 10,196 | 669,982 |
Additions | 51,714 | 38,349 | - | 35,330 | 125,393 |
At 31 December 2023 | 387,108 | 336,565 | 26,176 | 45,526 | 795,375 |
DEPRECIATION |
At 1 January 2023 | 95,481 | 255,722 | 15,206 | 6,859 | 373,268 |
Charge for year | 26,243 | 23,471 | 4,521 | 5,054 | 59,289 |
At 31 December 2023 | 121,724 | 279,193 | 19,727 | 11,913 | 432,557 |
NET BOOK VALUE |
At 31 December 2023 | 265,384 | 57,372 | 6,449 | 33,613 | 362,818 |
At 31 December 2022 | 239,913 | 42,494 | 10,970 | 3,337 | 296,714 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 | 15,476 |
DEPRECIATION |
At 1 January 2023 | 6,190 |
Charge for year | 3,095 |
At 31 December 2023 | 9,285 |
NET BOOK VALUE |
At 31 December 2023 | 6,191 |
At 31 December 2022 | 9,286 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
9. | PROPERTY, PLANT AND EQUIPMENT - continued |
Company |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Trade debtors | 8,661 | 803 |
Amounts owed by group undertakings | - | - |
Other debtors | 355,611 | 450,575 |
364,272 | 451,378 |
11. | CURRENT ASSET INVESTMENTS |
Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows: |
Proportion of voting rights |
Undertaking Registered Office Holding and shares held |
2023 2022 |
York Hogroast (Trading) Ltd England & Wales Ordinary 100% 100% |
Yorkypud Ltd England & Wales Ordinary 100% 100% |
Subsidiary undertakings |
The principal activity of York Hogroast (Trading) Ltd is the provision of takeaway food and onsite catering. |
The principal activity of Yorkypud Ltd is that of a dormant company. |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans and overdrafts | 9,906 | 9,894 |
Hire purchase contracts | 316 | 3,682 |
Trade creditors | 154,063 | 202,195 |
Amounts owed to group undertakings | - | - |
Taxation and social security | 112,070 | 144,630 |
Other creditors | 112,314 | 119,712 |
388,669 | 480,113 |
York Roast Co Group Limited (Registered number: 09777459) |
Notes to the Consolidated Financial Statements - continued |
for the year ended 31 December 2023 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans | 15,045 | 24,963 |
Hire purchase contracts | - | 316 |
15,045 | 25,279 |
14. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Bank loans | 24,951 | 34,857 |
A fixed and floating charge over all assets. |
15. | PROVISIONS FOR LIABILITIES |
Group | Company |
2023 | 2022 | 2023 | 2022 |
£ | £ | £ | £ |
Deferred tax | 11,973 | 9,589 | 11,973 | 9,589 |
Group |
Deferred |
tax |
£ |
Balance at 1 January 2023 | 9,589 |
Provided during year | 2,384 |
Balance at 31 December 2023 | 11,973 |
Company |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Provided during year |
Balance at 31 December 2023 |