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REGISTERED NUMBER: 05634541 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

for the Period 28th November 2022 to 26th November 2023

for

Big Chill Group Limited

Big Chill Group Limited (Registered number: 05634541)

Contents of the Consolidated Financial Statements
for the Period 28th November 2022 to 26th November 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Big Chill Group Limited

Company Information
for the Period 28th November 2022 to 26th November 2023







DIRECTORS: N A Foster
R H Bigg
L D T O'Connor





REGISTERED OFFICE: 1-3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 05634541 (England and Wales)





AUDITORS: Beak Kemmenoe
Chartered Accountants
& Statutory Auditors
1-3 Manor Road
Chatham
Kent
ME4 6AE

Big Chill Group Limited (Registered number: 05634541)

Group Strategic Report
for the Period 28th November 2022 to 26th November 2023


The Directors present their Strategic Report for the period ended 26 November 2023.

REVIEW OF BUSINESS
The emergence from the Covid-19 pandemic has provided challenges and opportunities which the Group has embraced by providing upgraded, enhanced, and new entertainment locations around its London base.

The Directors have invested in the venues, to provide the dining and drinking atmosphere conducive to the sort of upmarket establishments the Group has a reputation for creating. The Directors are pleased with the progress made at these enhanced venues and expect a return to net profit in the current year.

KEY PERFORMANCE INDICATORS
All venues have individual targets mainly revolving around turnover. The location and investment in internal fixtures and equipment dictates the potential for the venue and individual managers are incentivised to achieve that potential. The Group achieved a 8% increase in turnover in the period ended 26 November 2023 compared to the prior period.

Overall, the Group looks to achieve a return on capital employed by measuring income and direct costs charged to each venue as comparators.

PRINCIPAL RISKS AND UNCERTAINTIES
The Group operates in a highly competitive industry which is monitored by the authorities for health and safety in all of its forms and the Directors adhere to the values to achieve compliance in both areas. The Group is well funded with cashflow not representing a material risk although the uncertainty in the economy generally does affect the investment decision making when evaluating customer appetite for discretionary spending in bars and restaurants.

FUTURE DEVELOPMENTS
The Directors continue to be offered, and seek for themselves, new venues and trading opportunities in the bar restaurant sector. Continued growth in current venues is expected to be maintained and the cashflow this yields will facilitate the provision of funds for further expansion.

ON BEHALF OF THE BOARD:





N A Foster - Director


30th August 2024

Big Chill Group Limited (Registered number: 05634541)

Report of the Directors
for the Period 28th November 2022 to 26th November 2023


The directors present their report with the financial statements of the company and the group for the period 28th November 2022 to 26th November 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was that of operating bar restaurants.

DIVIDENDS
No dividends will be distributed for the period ended 26th November 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 28th November 2022 to the date of this report.

N A Foster
R H Bigg
L D T O'Connor

DISCLOSURE IN THE STRATEGIC REPORT
The directors have disclosed their review of the business, the key performance indicators, risk management policies, principal risks and uncertainties along with future developments in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Big Chill Group Limited (Registered number: 05634541)

Report of the Directors
for the Period 28th November 2022 to 26th November 2023


AUDITORS
The auditors, Beak Kemmenoe, are deemed to be re-appointed.

ON BEHALF OF THE BOARD:





N A Foster - Director


30th August 2024

Report of the Independent Auditors to the Members of
Big Chill Group Limited


Opinion
We have audited the financial statements of Big Chill Group Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 26th November 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 26th November 2023 and of the group's loss 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 group 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 group's and the parent 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 Group 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Big Chill Group Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 three, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Big Chill Group Limited


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

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

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

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the business sector;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment and health and safety legislation;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group'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;

-Tested journal entries to identify unusual transactions;

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

- Investigated the rationale behind significant or unusual transactions.

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

- Agreeing financial statement disclosures to underlying supporting documentation; and

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

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.

Report of the Independent Auditors to the Members of
Big Chill Group Limited


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.




Ronald Price FCA (Senior Statutory Auditor)
for and on behalf of Beak Kemmenoe
Chartered Accountants
& Statutory Auditors
1-3 Manor Road
Chatham
Kent
ME4 6AE

30th August 2024

Big Chill Group Limited (Registered number: 05634541)

Consolidated
Income Statement
for the Period 28th November 2022 to 26th November 2023

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
Notes £    £   

TURNOVER 3 11,546,858 10,679,673

Cost of sales 7,748,144 6,765,809
GROSS PROFIT 3,798,714 3,913,864

Administrative expenses 4,148,984 3,519,956
(350,270 ) 393,908

Other operating income - 58,476
OPERATING (LOSS)/PROFIT 5 (350,270 ) 452,384

Interest receivable and similar income 155 12
(350,115 ) 452,396

Interest payable and similar expenses 7 222,975 186,986
(LOSS)/PROFIT BEFORE TAXATION (573,090 ) 265,410

Tax on (loss)/profit 8 (95,333 ) 91,745
(LOSS)/PROFIT FOR THE FINANCIAL
PERIOD

(477,757

)

173,665
(Loss)/profit attributable to:
Owners of the parent (464,969 ) 199,941
Non-controlling interests (12,788 ) (26,276 )
(477,757 ) 173,665

Big Chill Group Limited (Registered number: 05634541)

Consolidated
Other Comprehensive Income
for the Period 28th November 2022 to 26th November 2023

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
Notes £    £   

(LOSS)/PROFIT FOR THE PERIOD (477,757 ) 173,665


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

(477,757

)

173,665

Total comprehensive income attributable to:
Owners of the parent (464,969 ) 199,941
Non-controlling interests (12,788 ) (26,276 )
(477,757 ) 173,665

Big Chill Group Limited (Registered number: 05634541)

Consolidated Balance Sheet
26th November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 660,246 752,181
Tangible assets 11 2,536,979 2,013,650
Investments 12 - -
3,197,225 2,765,831

CURRENT ASSETS
Stocks 13 128,323 124,572
Debtors 14 1,678,669 1,649,018
Cash at bank and in hand 1,377,706 2,184,253
3,184,698 3,957,843
CREDITORS
Amounts falling due within one year 15 5,345,234 4,876,397
NET CURRENT LIABILITIES (2,160,536 ) (918,554 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,036,689

1,847,277

CREDITORS
Amounts falling due after more than one
year

16

(356,250

)

(593,748

)

PROVISIONS FOR LIABILITIES 20 (15,843 ) (111,176 )
NET ASSETS 664,596 1,142,353

CAPITAL AND RESERVES
Called up share capital 21 3,100 3,100
Retained earnings 22 700,510 1,165,479
SHAREHOLDERS' FUNDS 703,610 1,168,579

NON-CONTROLLING INTERESTS (39,014 ) (26,226 )
TOTAL EQUITY 664,596 1,142,353

The financial statements were approved by the Board of Directors and authorised for issue on 30th August 2024 and were signed on its behalf by:





N A Foster - Director


Big Chill Group Limited (Registered number: 05634541)

Company Balance Sheet
26th November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 1,007 1,252
Tangible assets 11 45,112 47,805
Investments 12 501 501
46,620 49,558

CURRENT ASSETS
Debtors 14 1,306,973 1,612,360
Cash at bank and in hand 868,031 419,534
2,175,004 2,031,894
CREDITORS
Amounts falling due within one year 15 1,644,990 1,221,489
NET CURRENT ASSETS 530,014 810,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

576,634

859,963

CREDITORS
Amounts falling due after more than one
year

16

(356,250

)

(593,748

)

PROVISIONS FOR LIABILITIES 20 - (7,077 )
NET ASSETS 220,384 259,138

CAPITAL AND RESERVES
Called up share capital 21 3,100 3,100
Retained earnings 22 217,284 256,038
SHAREHOLDERS' FUNDS 220,384 259,138

Company's loss for the financial year (38,754 ) (42,484 )

The financial statements were approved by the Board of Directors and authorised for issue on 30th August 2024 and were signed on its behalf by:





N A Foster - Director


Big Chill Group Limited (Registered number: 05634541)

Consolidated Statement of Changes in Equity
for the Period 28th November 2022 to 26th November 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 29th November 2021 3,100 965,538 968,638 25 968,663

Changes in equity
Total comprehensive income - 199,941 199,941 (26,276 ) 173,665
3,100 1,165,479 1,168,579 (26,251 ) 1,142,328
Acquisition of non-controlling
interest

-

-

-

25

25
Balance at 27th November 2022 3,100 1,165,479 1,168,579 (26,226 ) 1,142,353

Changes in equity
Total comprehensive income - (464,969 ) (464,969 ) (12,788 ) (477,757 )
Balance at 26th November 2023 3,100 700,510 703,610 (39,014 ) 664,596

Big Chill Group Limited (Registered number: 05634541)

Company Statement of Changes in Equity
for the Period 28th November 2022 to 26th November 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 29th November 2021 3,100 298,522 301,622

Changes in equity
Total comprehensive income - (42,484 ) (42,484 )
Balance at 27th November 2022 3,100 256,038 259,138

Changes in equity
Total comprehensive income - (38,754 ) (38,754 )
Balance at 26th November 2023 3,100 217,284 220,384

Big Chill Group Limited (Registered number: 05634541)

Consolidated Cash Flow Statement
for the Period 28th November 2022 to 26th November 2023

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 585,412 1,324,777
Interest paid (222,975 ) (186,986 )
Net cash from operating activities 362,437 1,137,791

Cash flows from investing activities
Purchase of intangible fixed assets (3,510 ) (495,411 )
Purchase of tangible fixed assets (928,131 ) (433,237 )
Interest received 155 12
Net cash from investing activities (931,486 ) (928,636 )

Cash flows from financing activities
Loan repayments in year (237,498 ) (118,752 )
Minority interest - 25
Net cash from financing activities (237,498 ) (118,727 )

(Decrease)/increase in cash and cash equivalents (806,547 ) 90,428
Cash and cash equivalents at beginning of
period

2

2,184,253

2,093,825

Cash and cash equivalents at end of
period

2

1,377,706

2,184,253

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Cash Flow Statement
for the Period 28th November 2022 to 26th November 2023


1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
(Loss)/profit before taxation (573,090 ) 265,410
Depreciation charges 500,247 337,374
Finance costs 222,975 186,986
Finance income (155 ) (12 )
149,977 789,758
Increase in stocks (3,751 ) (21,358 )
(Increase)/decrease in trade and other debtors (29,651 ) 33,056
Increase in trade and other creditors 468,837 523,321
Cash generated from operations 585,412 1,324,777

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 26th November 2023
26.11.23 28.11.22
£    £   
Cash and cash equivalents 1,377,706 2,184,253
Period ended 27th November 2022
27.11.22 29.11.21
£    £   
Cash and cash equivalents 2,184,253 2,093,825


3. ANALYSIS OF CHANGES IN NET FUNDS

At 28.11.22 Cash flow At 26.11.23
£    £    £   
Net cash
Cash at bank and in hand 2,184,253 (806,547 ) 1,377,706
2,184,253 (806,547 ) 1,377,706
Debt
Debts falling due within 1 year (237,500 ) - (237,500 )
Debts falling due after 1 year (593,748 ) 237,498 (356,250 )
(831,248 ) 237,498 (593,750 )
Total 1,353,005 (569,049 ) 783,956

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements
for the Period 28th November 2022 to 26th November 2023


1. STATUTORY INFORMATION

Big Chill Group 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 General 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.

Basis of consolidation
The group financial statements drawn up to 26 November 2023 consolidate the financial statements of the company and its subsidiary undertakings. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed.

Business combinations are accounted for under the purchase method. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Another business was purchased in 2006 and the associated goodwill has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Tangible assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property-over the lease period
Improvements to property-over the lease period
Plant and machinery-25% on a reducing balance basis
Fixtures and fittings-25% on a reducing balance basis
Computer equipment-20 - 33% straight line or 20 - 25% on a reducing balance basis

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost is determined using a first-in, first-out method.

Stock items are constantly reviewed to determine if they are in a saleable condition and that the net realisable value remains higher than the carrying amount.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that comply with all of the conditions of paragraph 11.9 of FRS 102 are classified as 'basic'. For debt instruments that do not meet the conditions of FRS 102.11.9, the company considers whether the debt instrument is consistent with the principle in paragraph 11.9A of FRS 102 in order to determine whether it can be classified as basic. Instruments classified as 'basic' financial instruments are measured subsequently at amortised cost using the effective interest method. Debt instruments that have no stated interest rate (and do not constitute financing transaction) and are classified as payable or receivable within one year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting conditions of being 'basic' financial instruments are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Taxation
Taxation for the period 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 balance sheet date.

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 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 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.

Hire purchase and leasing commitments
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. TURNOVER

The turnover and loss (2022 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£ £
Rendering of services 11,546,858 10,679,673

All turnover originates in the UK.

4. EMPLOYEES AND DIRECTORS
Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
Wages and salaries 4,284,601 3,679,660
Social security costs 102,975 78,691
Other pension costs 56,582 49,783
4,444,158 3,808,134

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22

Management 3 3
Administration and marketing 10 9
Bar and restaurant 171 155
184 167

The average number of employees by undertakings that were proportionately consolidated during the period was 180 (2022 - 167 ) .

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
Directors' remuneration 248,333 228,000
Directors' pension contributions to money purchase schemes 2,642 2,642

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

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
Emoluments etc 133,333 115,667
Pension contributions to money purchase schemes 1,321 1,321

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


5. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
Other operating leases 870,568 913,482
Depreciation - owned assets 330,275 242,121
Goodwill amortisation 87,458 87,458
Patents and licences amortisation 245 245
Development costs amortisation 7,742 7,550
Fixed asset impairment 74,527 -

6. AUDITORS' REMUNERATION

The audit fee stated in the financial statements is made up of the following services

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£ £
Fees payable to the company’s auditor for the audit of the
company’s annual accounts 27,000 16,000
Fees payable to the company’s auditor for other services:
Audit of the accounts of subsidiaries 18,800 16,900
Non-audit related services 9,990 7,606
55,790 40,506

7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
Interest payable 222,975 186,986

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


8. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the period was as follows:
Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
Deferred tax (95,333 ) 91,745
Tax on (loss)/profit (95,333 ) 91,745

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period Period
28.11.22 29.11.21
to to
26.11.23 27.11.22
£    £   
(Loss)/profit before tax (573,090 ) 265,410
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
23 % (2022 - 19 %)

(131,811

)

50,428

Effects of:
Expenses not deductible for tax purposes 38,933 28,086
Capital allowances in excess of depreciation (118,115 ) (72,209 )
Utilisation of tax losses - (53,424 )
Losses carried forward 210,993 47,119
Deferred tax (95,333 ) 91,745
Total tax (credit)/charge (95,333 ) 91,745

9. 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.


Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


10. INTANGIBLE FIXED ASSETS

Group
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 28th November 2022 1,063,590 2,450 75,500 1,141,540
Additions - - 3,510 3,510
At 26th November 2023 1,063,590 2,450 79,010 1,145,050
AMORTISATION
At 28th November 2022 372,335 1,198 15,826 389,359
Amortisation for period 87,458 245 7,742 95,445
At 26th November 2023 459,793 1,443 23,568 484,804
NET BOOK VALUE
At 26th November 2023 603,797 1,007 55,442 660,246
At 27th November 2022 691,255 1,252 59,674 752,181

Company
Patents
and
licences
£   
COST
At 28th November 2022
and 26th November 2023 2,450
AMORTISATION
At 28th November 2022 1,198
Amortisation for period 245
At 26th November 2023 1,443
NET BOOK VALUE
At 26th November 2023 1,007
At 27th November 2022 1,252

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


11. TANGIBLE FIXED ASSETS

Group
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 28th November 2022 178,935 3,526,681 687,578
Additions 32,443 612,796 74,845
At 26th November 2023 211,378 4,139,477 762,423
DEPRECIATION
At 28th November 2022 119,667 1,900,417 578,693
Charge for period 7,446 199,238 38,920
Impairments - 38,400 9,427
At 26th November 2023 127,113 2,138,055 627,040
NET BOOK VALUE
At 26th November 2023 84,265 2,001,422 135,383
At 27th November 2022 59,268 1,626,264 108,885

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 28th November 2022 600,667 322,544 5,316,405
Additions 174,054 33,993 928,131
At 26th November 2023 774,721 356,537 6,244,536
DEPRECIATION
At 28th November 2022 443,549 260,429 3,302,755
Charge for period 64,657 20,014 330,275
Impairments 12,415 14,285 74,527
At 26th November 2023 520,621 294,728 3,707,557
NET BOOK VALUE
At 26th November 2023 254,100 61,809 2,536,979
At 27th November 2022 157,118 62,115 2,013,650

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


11. TANGIBLE FIXED ASSETS - continued

Company
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST
At 28th November 2022 24,124 22,388 18,079 64,591
Additions - - 6,479 6,479
At 26th November 2023 24,124 22,388 24,558 71,070
DEPRECIATION
At 28th November 2022 4,624 2,465 9,697 16,786
Charge for period 2,412 2,464 4,296 9,172
At 26th November 2023 7,036 4,929 13,993 25,958
NET BOOK VALUE
At 26th November 2023 17,088 17,459 10,565 45,112
At 27th November 2022 19,500 19,923 8,382 47,805

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 28th November 2022
and 26th November 2023 501
NET BOOK VALUE
At 26th November 2023 501
At 27th November 2022 501

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Pendland Limited
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Leasehold property investment
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (4,654 ) (270,057 )
Profit for the period 265,403 -

Pendland Trading Limited
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Bar restaurant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 2,022,084 2,233,681
(Loss)/profit for the period (211,597 ) 30,754

Rosefort Limited
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Bar restaurant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (1,098,644 ) (947,941 )
(Loss)/profit for the period (150,703 ) 213,156

Camino Trading Ltd
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Bar restaurants
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (311,098 ) (23,848 )
(Loss)/profit for the period (287,250 ) 79,522

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


12. FIXED ASSET INVESTMENTS - continued

IQL Bar Limited
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Leasehold property investment
%
Class of shares: holding
Ordinary 75.00
2023 2022
£    £   
Aggregate capital and reserves (2,131 ) (768 )
Loss for the period (1,363 ) (868 )

IQL Bar Trading Limited
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Bar restaurant
%
Class of shares: holding
Ordinary 75.00
2023 2022
£    £   
Aggregate capital and reserves (153,925 ) (104,135 )
Loss for the period (49,790 ) (104,235 )

Camino Shoreditch Ltd
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Leasehold property investment
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (4,496 ) (2,716 )
Loss for the period (1,780 ) (1,780 )

Camino Monument Ltd
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Leasehold property investment
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (2,224 ) (301 )
Loss for the period (1,923 ) (401 )

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


12. FIXED ASSET INVESTMENTS - continued

Camino Kings Cross Ltd
Registered office: 1 - 3 Manor Road, Chatham, England, ME4 6AE
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 100 100


13. STOCKS

Group
2023 2022
£    £   
Stocks 128,323 124,572

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts owed by group undertakings - - 1,235,077 1,370,686
Other debtors and prepayments 1,678,669 1,649,018 67,038 241,674
Deferred tax asset - - 4,858 -
1,678,669 1,649,018 1,306,973 1,612,360

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 17) 237,500 237,500 237,500 237,500
Trade creditors 761,635 687,229 37,790 36,629
Amounts owed to group undertakings - - 916,766 602,665
Social security and other taxes 354,369 366,282 76,115 64,314
Other creditors and accruals 3,991,730 3,585,386 376,819 280,381
5,345,234 4,876,397 1,644,990 1,221,489

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 17) 356,250 593,748 356,250 593,748

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


17. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 237,500 237,500 237,500 237,500
Amounts falling due between one and two years:
Bank loans - 1-2 years 237,500 237,500 237,500 237,500
Amounts falling due between two and five years:
Bank loans - 2-5 years 118,750 356,248 118,750 356,248

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 798,365 860,336
Between one and five years 3,391,266 3,151,793
In more than five years 3,448,500 3,769,093
7,638,131 7,781,222

Company
Non-cancellable operating leases
2023 2022
£    £   
Within one year 315,000 260,784
Between one and five years 1,260,000 1,043,136
In more than five years 659,342 807,357
2,234,342 2,111,277

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


19. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans 593,750 831,248 593,750 831,248

A debenture with The Royal Bank of Scotland Plc contains a fixed and floating charge on the assets of Big Chill Group Limited and its subsidiaries in the event that any of these companies default on their loan commitments.

Mr N Foster and Mr R Bigg have a fixed and floating charge over the Camino Trading Ltd's assets.

20. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 15,843 111,176 - 7,077

Group
Deferred
tax
£   
Balance at 28th November 2022 111,176
Credit to Income Statement during period (95,333 )
Balance at 26th November 2023 15,843

Company
Deferred
tax
£   
Balance at 28th November 2022 7,077
Credit to Income Statement during period (11,935 )
Balance at 26th November 2023 (4,858 )

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,100 Ordinary £1 3,100 3,100

The Ordinary shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

Big Chill Group Limited (Registered number: 05634541)

Notes to the Consolidated Financial Statements - continued
for the Period 28th November 2022 to 26th November 2023


22. RESERVES

Group
Retained
earnings
£   

At 28th November 2022 1,165,479
Deficit for the period (464,969 )
At 26th November 2023 700,510

Company
Retained
earnings
£   

At 28th November 2022 256,038
Deficit for the period (38,754 )
At 26th November 2023 217,284


23. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N Foster and Mr R Bigg.