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Registration number: 14751272

Cluck'd Holdings Ltd

Annual Report and Consolidated Financial Statements

for the Period from 23 March 2023 to 30 November 2023

 

Cluck'd Holdings Ltd

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Statement of Director's Responsibilities

4

Consolidated Statement of Comprehensive Income

5

Consolidated Balance Sheet

6

Balance Sheet

7

Consolidated Statement of Changes in Equity

8

Notes to the Financial Statements

9 to 14

 

Cluck'd Holdings Ltd

Company Information

Director

Ricky Sahota

Registered office

Epsilon House West Road
Ransomes Industrial Estate
Ipswich
IP3 9FJ

 

Cluck'd Holdings Ltd

Strategic Report for the period from 23 March 2023 to 30 November 2023

The director presents the strategic report for the period from 23 March 2023 to 30 November 2023.

Principal activity

The principal activity of the group is Unlicensed restaurants and cafes

Fair review of the business

The director is satisfied with the performance of the group.

Principal risks and uncertainties

The Board is responsible for setting the Group’s risk appetite and ensuring that appropriate risk
management systems are in place. The Board reviews the Group’s principal risks throughout the year
as part of its normal agenda, adopting an integrated approach to risk management by regularly
discussing the principal risks as a part of key agenda items.

Approved and authorised by the director on 18 August 2024
 

.........................................
Ricky Sahota
Director

 

Cluck'd Holdings Ltd

Director's Report for the Period from 23 March 2023 to 30 November 2023

The report and the for the period from 23 March 2023 to 30 November 2023.

Incorporation

The company was incorporated on 23 March 2023.

Director of the group

The director who held office during the period was as follows:

Ricky Sahota (appointed 23 March 2023)

Financial instruments

Price risk, credit risk, liquidity risk and cash flow risk

There is no risk of going concern for foreseeable future.

Approved by the director on 18 August 2024 and signed on its behalf by:

.........................................
Ricky Sahota
Director

   
     
 

Cluck'd Holdings Ltd

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable to ensure that the financial statements comply with the Companies Act 2006. also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Cluck'd Holdings Ltd

Consolidated Statement of Comprehensive Income for the Period from 23 March 2023 to 30 November 2023

2023
£

Loss for the period

(140,349)

Total comprehensive income for the period

(140,349)

Total comprehensive income attributable to:

Owners of the company

(140,349)

 

Cluck'd Holdings Ltd

(Registration number: 14751272)
Consolidated Balance Sheet as at 30 November 2023

Note

2023
£

Fixed assets

 

Tangible assets

8

339,650

Current assets

 

Stocks

9

70,355

Debtors

10

30,240

Cash at bank and in hand

 

17,600

 

118,195

Creditors: Amounts falling due within one year

12

(38,044)

Net current assets

 

80,151

Total assets less current liabilities

 

419,801

Creditors: Amounts falling due after more than one year

12

(577,177)

Net liabilities

 

(157,376)

Capital and reserves

 

Called up share capital

13

100

Retained earnings

(157,476)

Equity attributable to owners of the company

 

(157,376)

Shareholders' deficit

 

(157,376)

Approved and authorised by the director on 18 August 2024
 

.........................................
Ricky Sahota
Director

   
     
 

Cluck'd Holdings Ltd

(Registration number: 14751272)
Balance Sheet as at 30 November 2023

2023
£

Capital and reserves

Shareholders' funds/(deficit)

-

For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 18 August 2024
 

.........................................
Ricky Sahota
Director

   
     
 

Cluck'd Holdings Ltd

Consolidated Statement of Changes in Equity for the Period from 23 March 2023 to 30 November 2023
Equity attributable to the parent company

Share capital
£

Retained earnings
£

Total
£

Total equity
£

At 23 March 2023

100

(17,127)

(17,027)

(17,027)

Loss for the period

-

(140,349)

(140,349)

(140,349)

At 30 November 2023

100

(157,476)

(157,376)

(157,376)

 

Cluck'd Holdings Ltd

Notes to the Financial Statements for the Period from 23 March 2023 to 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Epsilon House West Road
Ransomes Industrial Estate
Ipswich
IP3 9FJ
England

These financial statements were authorised for issue by the director on 18 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 November 2023.

 

Cluck'd Holdings Ltd

Notes to the Financial Statements for the Period from 23 March 2023 to 30 November 2023

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.

The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Cluck'd Holdings Ltd

Notes to the Financial Statements for the Period from 23 March 2023 to 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Cluck'd Holdings Ltd

Notes to the Financial Statements for the Period from 23 March 2023 to 30 November 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Turnover

The analysis of the group's turnover for the period from continuing operations is as follows:

2023
£

Sale of goods

115,507

4

Operating loss

Arrived at after charging/(crediting)

2023
£

Depreciation expense

84,912

5

Interest payable and similar expenses

2023
£

Interest on bank overdrafts and borrowings

2,364

6

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

2023
£

Wages and salaries

78,231

The average number of persons employed by the company (including the director) during the period, was 0.

7

Taxation

8

Tangible assets

Group

 

Cluck'd Holdings Ltd

Notes to the Financial Statements for the Period from 23 March 2023 to 30 November 2023

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

424,562

424,562

At 30 November 2023

424,562

424,562

Depreciation

Charge for the period

84,912

84,912

At 30 November 2023

84,912

84,912

Carrying amount

At 30 November 2023

339,650

339,650

9

Stocks

 

Group

Company

2023
£

2023
£

Other inventories

70,355

-

Group

10

Debtors

 

Group

Company

Current

2023
£

2023
£

Other debtors

30,240

-

 

30,240

-

11

Cash and cash equivalents

 

Group

Company

2023
£

2023
£

Cash on hand

717

-

Cash at bank

16,883

-

17,600

-

12

Creditors

 

Cluck'd Holdings Ltd

Notes to the Financial Statements for the Period from 23 March 2023 to 30 November 2023

   

Group

Company

Note

2023
£

2023
£

Due within one year

 

Trade creditors

 

9,825

-

Social security and other taxes

 

11,932

-

Accruals

 

16,287

-

 

38,044

-

Due after one year

 

Loans and borrowings

14

214,630

-

Other non-current financial liabilities

 

362,547

-

 

577,177

-

13

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

100

100

   

14

Loans and borrowings

Non-current loans and borrowings

 

Group

Company

2023
£

2023
£

Bank borrowings

214,630

-