Company Registration No. 08575769 (England and Wales)
Treatz Franchising Ltd
Unaudited accounts
for the year ended 30 June 2023
Treatz Franchising Ltd
Unaudited accounts
Contents
Treatz Franchising Ltd
Company Information
for the year ended 30 June 2023
Directors
M Khalil
M I Monir
Company Number
08575769 (England and Wales)
Registered Office
Unit 19 Slough Business Park
94 Farnham Road
Slough
Berkshire
SL1 3FQ
England
Treatz Franchising Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
923,820
884,602
Inventories
205,000
200,000
Cash at bank and in hand
199,850
80,427
Creditors: amounts falling due within one year
(1,103,111)
(1,344,999)
Net current assets
103,735
182,075
Total assets less current liabilities
1,027,555
1,066,677
Creditors: amounts falling due after more than one year
(444,586)
(491,298)
Net assets
582,969
575,379
Called up share capital
100
100
Profit and loss account
582,869
575,279
Shareholders' funds
582,969
575,379
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by
M I Monir
Director
Company Registration No. 08575769
Treatz Franchising Ltd
Notes to the Accounts
for the year ended 30 June 2023
Treatz Franchising Ltd is a private company, limited by shares, registered in England and Wales, registration number 08575769. The registered office is Unit 19 Slough Business Park, 94 Farnham Road, Slough, Berkshire, SL1 3FQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Treatz Franchising Ltd
Notes to the Accounts
for the year ended 30 June 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Non-distributable reserve
Included within the total P&L reserve are non-distributable profits of £37,400 (2022: £37,400).
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2022
587,122
143,876
280,404
43,547
1,054,949
Additions
2,500
3,332
103,667
18,327
127,826
At 30 June 2023
589,622
147,208
384,071
61,874
1,182,775
At 1 July 2022
18,868
87,136
55,252
9,091
170,347
Charge for the year
5,708
12,014
60,330
10,556
88,608
At 30 June 2023
24,576
99,150
115,582
19,647
258,955
At 30 June 2023
565,046
48,058
268,489
42,227
923,820
At 30 June 2022
568,254
56,740
225,152
34,456
884,602
Treatz Franchising Ltd
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Trade debtors
531,158
519,867
Amounts due from group undertakings etc.
155,944
375,585
Accrued income and prepayments
5,859
7,296
Other debtors
109,035
325,900
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
49,793
5,556
Obligations under finance leases and hire purchase contracts
31,689
31,689
Trade creditors
612,141
578,811
Amounts owed to group undertakings and other participating interests
158,850
558,781
Taxes and social security
61,610
48,247
Other creditors
60,233
55,335
Loans from directors
56,993
64,080
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
249,891
296,603
Obligations under finance leases and hire purchase contracts
194,695
194,695
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
Included in debtors due within one year are the amounts of £155,944 (2022: £299,768) owed by Sirocco Enterprise Ltd, £Nil (2022: £58,167) owed by Slik Foods Ltd and £nil (2022: £17,650) owed by Chipsta Slough Ltd.
Included in creditors due within one year are the amounts of £Nil (2022: £nil) owed to Chipsta Slough Ltd, £48,246 (2022: £121,278) owed to Cafetreatz Reading Ltd, £110,604 (2022: £337,503) owed to Cafetreatz Ltd and £Nil (2022: £100,000) owed to Cafetreatz Slough.
During the year dividends of £13,000 (2022: £39,000) were distributed equally to the directors.
Included in other creditors due within one year are the amounts of £27,823 (2022: £31,367) and £29,170 (2022: £32,713) owed to Mr M Khalil & Mr M I Monir respectively.
Treatz Franchising Ltd
Notes to the Accounts
for the year ended 30 June 2023
Both directors are regarded as controlling parties and as such there is no single ultimate controlling party for this and preceding period.
11
Average number of employees
During the year the average number of employees was 11 (2022: 11).