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REGISTERED NUMBER: 12554615 (England and Wales)



















ACCA GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Profit and Loss Account 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


ACCA GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J S Sohal
L S Sohal





REGISTERED OFFICE: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY





REGISTERED NUMBER: 12554615 (England and Wales)





AUDITORS: Keelings Limited
Statutory Auditors, Chartered Tax Advisers
and Chartered Certified Accountants
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The consolidated income statement on page 10 reflects the results of the Group shows turnover of £16.53m (2023: £15.41m) and costs of sales of £8.86m, generating a gross margin of 46.38% compared with 45.01% for last year.

The Group balance sheet shows fixed assets of £16.00m, consisting of tangible fixed assets of £5.60m, investments of £0.55m, investment properties of £10.57m and intangible a negative £0.73m.

Current assets were £6.06m (including cash of £1.30m) but with current liabilities of £5.11m, net current assets were £0.94m. Long term liabilities and provisions were £9.10m, leaving group net assets of £7.84m.

The Directors believe that the outlook for the Group is strong. The losses sustained in the year, and the net current liabilities at the end of the year, are in line with expectations at this point and the Shareholders are fully supportive of the Directors plan to grow the business.

PRINCIPAL RISKS AND UNCERTAINTIES
Competition
The company operates in a highly competitive markets particular around service, price and quality of products. To mitigate this risk, the Directors constantly monitor competition, customer service and food quality to maintain the strong reputation.

Inflation and rises in energy prices
Inflation in the cost of employment continues to run at high levels due to increases in the national minimum wage and increases in employer's national insurance contribution from April 2025. Energy costs continue to rise at rates significantly more than the general rate of inflation. Inflation affecting other goods and services supplied to the Group has reduced from recent highs, however it continues, together with the increasing cost of employment and energy costs, to put significant upward pressure on costs.

Credit risk
The company has no credit risk as the name of the business results in a large customer base and minimum credit sales.

Future Developments
The company will carry on investing into the business by purchasing new assets and opening new stores and developing new franchise opportunities.

TRADING RISKS
The trading performance of the company may be affected by a number of factors outside its control, including:

- The economic conditions prevailing in the UK including the rise in the cost of living, rise in inflation and an increase in interest rates.
- General uncertainties caused by other world events.
- Increased labour costs.
- Increased property costs.
- Actions taken by its franchise partners and other competitive brands.
- Government legislation.

The management team will continue to react to these risks in a decisive and proactive manner.

Income and expenditure is constantly reviewed and monitored.


ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL RISKS
The company's principal financial instruments are cash at bank, bank loans, hire purchase finance and credit allowed by trade creditors. The main purpose of these instruments is to provide working capital for the company's trading activities and to fund the acquisition and opening of new retail outlets.

The financial risks are managed by;

Ensuring new acquisitions are financed by way of a sensible balance of funds internally generated from operations and new monies introduced by way of bank loan and hire purchase finance. The effect of this policy can be seen from the relatively healthy gearing ratio as at the balance sheet date of 34.51% (2023: 28.75%).

Careful cash flow management to ensure cash resources are available to meet all short term liabilities, including trade creditors, as and when they fall due. Again, management's success in this area is evident from the liquidity ratio as at the balance sheet date of 118.43% (2023: 135.12%).

FINANCIAL INSTRUMENTS
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities, which are only in sterling. The company does not enter in any hedging transactions.

GOING CONCERN
The company continues to assess the going concern basis and maintains a healthy financial position and performances, even in light of a domestic and global volatile economic climate.

KEY PERFORMANCE INDICATORS
The Directors considers total sales, gross profit margin and net profit to be the key performance indicators of the company.

ON BEHALF OF THE BOARD:





Director


3 December 2024

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of a holding company.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £260,000.

FUTURE DEVELOPMENTS
Future developments of the business have been set out in the Strategic Report.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

J S Sohal
L S Sohal

FINANCIAL INSTRUMENTS
Financial assets such as trade debtors and trade creditors arise directly from the groups operating activities and expose the Company to credit and cash flow risk. The Company has in place appropriate measures to mitigate and manage this risk.

POLITICAL DONATIONS AND EXPENDITURE
During the year the company has made donations amounting to £1,252 (2023: £2,500).

INDEMNITY PROVISION FOR DIRECTORS
No qualifying third party indemnity provision for the benefit of one or more directors was in force at any time during the financial period or to the date of approval of this report.

EMPLOYEES
Applications for employment by disabled persons are always fully and fairly considered, bearing in mind the aptitudes of the applicant concerned. In the event of team members becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible be identical with that of their employees.

EMPLOYEE ENGAGEMENT
We consider that out employees act with the utmost integrity and professional expertise in providing out customers with premium products.

In doing so, the Directors consider that employees are both rewarded fairly and incentivised to deliver the Company's strategy. The Director is kept informed on employee related matters from the Company's Human Resources personnel.

Consultation with employees happens when their views need to be considered in decisions the Company needs to make that will likely affect their interests. All employees are kept abreast of Company news in regular updates. There is also ongoing communication through the Company's notices boards and team briefings.


ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

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.

AUDITORS
Pursuant to Section 487(2) of the Companies Act 2006, the auditor will be deemed to be reappointed and Keelings Limited will therefore continue in office.

ON BEHALF OF THE BOARD:





J S Sohal - Director


3 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

Opinion
We have audited the financial statements of ACCA Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Profit and Loss Account, 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 31 March 2024 and of the group's profit for the year 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
ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)


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 five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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
ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)


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:

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud and the detection of fraud.

However, it is the primary responsibility of management with the oversight of those charged with governance to ensure that the entity operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team;
- obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the entity operates in and how the entity is complying with the legal and regulatory framework;
- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;
- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are UK Generally Accepted Accounting Principles, the Companies Act 2006, tax compliance and employment regulations.

In addition, we considered provision of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the entity's ability to operate or to avoid a material penalty. The key laws and regulations we considered in this context included Health and Safety Act.

We identified potential for fraud in the following areas:
- management override of controls
- improper revenue recognition

Our procedures to respond to risk identified included the following:
- reviewing financial statement disclosures.
- enquiring of management, the directors and external legal advisors concerning actual and potential litigation and claims.
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate material misstatement due to fraud.
- testing the appropriateness of journal entries and assessing the assumption reflected in accounting estimates for indication of potential bias.
- addressing the risk of fraud in revenue recognition by performing substantive testing between on the revenue.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)


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.




Domenico Maurello (Senior Statutory Auditor)
for and on behalf of Keelings Limited
Statutory Auditors, Chartered Tax Advisers
and Chartered Certified Accountants
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

3 December 2024

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 3 16,527,295 15,414,197

Cost of sales 8,861,470 8,475,916
GROSS PROFIT 7,665,825 6,938,281

Administrative expenses 6,507,059 6,385,356
1,158,766 552,925

Other operating income 598,109 1,093,564
OPERATING PROFIT 5 1,756,875 1,646,489

Loan release 6 (4,139 ) 196,548
1,752,736 1,843,037

Interest receivable and similar income 135 -
1,752,871 1,843,037

Interest payable and similar expenses 7 332,639 158,765
PROFIT BEFORE TAXATION 1,420,232 1,684,272

Tax on profit 8 83,204 353,210
PROFIT FOR THE FINANCIAL YEAR 1,337,028 1,331,062
Profit attributable to:
Owners of the parent 1,337,028 1,331,062

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,337,028 1,331,062


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,337,028

1,331,062

Total comprehensive income attributable to:
Owners of the parent 1,337,028 1,331,062

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 (724,703 ) (869,488 )
Tangible assets 12 5,599,874 5,554,045
Investments 13 553,006 553,006
Investment property 14 10,573,054 6,605,240
16,001,231 11,842,803

CURRENT ASSETS
Stocks 15 135,010 127,544
Debtors 16 4,622,761 3,615,095
Cash at bank and in hand 1,298,352 2,379,271
6,056,123 6,121,910
CREDITORS
Amounts falling due within one year 17 5,113,660 4,530,821
NET CURRENT ASSETS 942,463 1,591,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,943,694

13,433,892

CREDITORS
Amounts falling due after more than one
year

18

(8,091,517

)

(5,527,065

)

PROVISIONS FOR LIABILITIES 22 (1,009,442 ) (1,141,120 )
NET ASSETS 7,842,735 6,765,707

CAPITAL AND RESERVES
Called up share capital 23 750 750
Share premium 24 5,300,001 5,300,001
Fair value reserve 24 (1,324,117 ) (1,324,117 )
Retained earnings 24 3,866,101 2,789,073
SHAREHOLDERS' FUNDS 7,842,735 6,765,707

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:




J S Sohal - Director



L S Sohal - Director


ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 5,315,680 5,315,580
Investment property 14 - -
5,315,680 5,315,580

CURRENT ASSETS
Debtors 16 2,838,937 1,616,941
Cash at bank 25,697 203,009
2,864,634 1,819,950
CREDITORS
Amounts falling due within one year 17 1,873,151 1,078,505
NET CURRENT ASSETS 991,483 741,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,307,163

6,057,025

CAPITAL AND RESERVES
Called up share capital 23 750 750
Share premium 24 5,300,001 5,300,001
Retained earnings 24 1,006,412 756,274
SHAREHOLDERS' FUNDS 6,307,163 6,057,025

Company's profit for the financial year 510,138 1,084,493

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 Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:




L S Sohal - Director



J S Sohal - Director


ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Fair
share Retained Share value Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 April 2022 600 1,626,700 4,750,000 (1,152,806 ) 5,224,494

Changes in equity
Issue of share capital 150 - 550,001 - 550,151
Dividends - (340,000 ) - - (340,000 )
Total comprehensive income - 1,502,373 - (171,311 ) 1,331,062
Balance at 31 March 2023 750 2,789,073 5,300,001 (1,324,117 ) 6,765,707

Changes in equity
Dividends - (260,000 ) - - (260,000 )
Total comprehensive income - 1,337,028 - - 1,337,028
Balance at 31 March 2024 750 3,866,101 5,300,001 (1,324,117 ) 7,842,735

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 April 2022 600 11,781 4,750,000 4,762,381

Changes in equity
Issue of share capital 150 - 550,001 550,151
Dividends - (340,000 ) - (340,000 )
Total comprehensive income - 1,084,493 - 1,084,493
Balance at 31 March 2023 750 756,274 5,300,001 6,057,025

Changes in equity
Dividends - (260,000 ) - (260,000 )
Total comprehensive income - 510,138 - 510,138
Balance at 31 March 2024 750 1,006,412 5,300,001 6,307,163

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,209,171 1,090,358
Interest paid (331,474 ) (155,332 )
Interest element of hire purchase payments
paid

(1,165

)

(3,370

)
Other items - 8,107
Tax paid (18,440 ) (134,464 )
Net cash from operating activities 1,858,092 805,299

Cash flows from investing activities
Purchase of intangible fixed assets (80,000 ) (20,000 )
Purchase of tangible fixed assets (1,078,347 ) (945,250 )
Purchase of fixed asset investments - (553,056 )
Purchase of investment property (3,967,814 ) (965,240 )
Sale of tangible fixed assets 7,670 25,000
Sale of investment property - 160,000
Interest received 135 -
Net cash from investing activities (5,118,356 ) (2,298,546 )

Cash flows from financing activities
New loans in year 4,664,430 2,280,001
Loan repayments in year (2,221,599 ) (400,757 )
Capital repayments in year (55,807 ) (47,044 )
Amount introduced by directors 52,321 53,439
Amount withdrawn by directors - (56,607 )
Share issue - 549,740
Equity dividends paid (260,000 ) (340,000 )
Net cash from financing activities 2,179,345 2,038,772

(Decrease)/increase in cash and cash equivalents (1,080,919 ) 545,525
Cash and cash equivalents at beginning of
year

2

2,379,271

1,833,746

Cash and cash equivalents at end of year 2 1,298,352 2,379,271

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,420,232 1,684,272
Depreciation charges 669,699 761,576
Loss on disposal of fixed assets 239,363 84,185
Finance costs 332,639 158,765
Finance income (135 ) -
2,661,798 2,688,798
Increase in stocks (7,466 ) (113 )
Increase in trade and other debtors (2,465,483 ) (1,968,998 )
Increase in trade and other creditors 2,020,322 370,671
Cash generated from operations 2,209,171 1,090,358

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:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,298,352 2,379,271
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,379,271 1,833,746


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 2,379,271 (1,080,919 ) 1,298,352
2,379,271 (1,080,919 ) 1,298,352
Debt
Finance leases (64,640 ) (6,194 ) (70,834 )
Debts falling due within 1 year (258,413 ) (71,459 ) (329,872 )
Debts falling due after 1 year (4,840,978 ) (2,371,372 ) (7,212,350 )
(5,164,031 ) (2,449,025 ) (7,613,056 )
Total (2,784,760 ) (3,529,944 ) (6,314,704 )

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

ACCA 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Basis of consolidation
The Group consolidated financial statements include the financial statements of the Company and its subsidiary undertakings.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the Group owns less than 50% of the voting power of an entity but controls the entity by virtue of an agreement with other investors which gave it control of the financial and operating policies of the entity it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the Group, adjustments are made to those subsidiary financial statements to apply the Group's accounting policies when preparing the consolidated financial statements.

All intra-Group transactions, balances, income and expenses are eliminated on consolidation.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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

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

Revenue from the sale of goods is recognised when all the following conditions are satisfied:

- the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction will flow to the Company; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Rental income is measured at fair value net of discounts, value added taxes and other sales taxes ,over the period of the rental lease.

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.

Franchise, being the amount paid in connection with the acquisition of each business, is being amortised evenly over its estimated useful life of 10 years.

The economic life is the same as that of the franchise agreements held in intangables.

Goodwill, being the amount paid in connection with the acquisition of a businesses, is being amortised over its estimated economic life of 10 years.

Negative goodwill will be expensed to the profit and loss account as the non-monetary assets are recovered.

An impairment review is conducted each year over every intangible assets the company owns.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Short leasehold - 10% on cost
Improvements to property - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
Financial assets are initially measured at transaction price, including transaction costs, and subsequently at amortised cost.

Financial liabilities and equity
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

An equity instrument is a contract which evidences a residual interest in an asset after deducting all liabilities. Equity comprises the following:
- share capital, which represents the nominal value of equity shares;
- profit and loss reserves, which represent retained profits; and
- the revaluation reserve, which represents the cumulative gains and losses arising on the revaluation of fixed assets.

Loans and receivables
Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as loans and receivables. Loans and receivables are measured at amortised cost less any impairment. Interest income is recognised by applying the effective interest rate, except for short term receivables when the recognition of interest would be immaterial.

Cash and cash equivalent
Cash and cash equivalents comprise cash on hand and demand 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 changes in value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the 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.

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

Impairment of fixed assets
At the end of each reporting period, the directors review the carrying amounts of the company's tangible assets to determine whether there is any indication that those assets have suffered impairment. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. Where it is not possible to estimate the recoverable amount of an individual asset, the directors estimate the recoverable amount of the cash-generating unit to which the asset belongs.

The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount and an impairment loss is recognised immediately in the Profit and Loss Account.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the lower of:
a. the revised estimate of its recoverable amount; and
b. the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years.

A reversal of an impairment loss is recognised immediately in the Profit and Loss Account.

Refurbishment provisions
The company has an obligation under its franchise agreements to ensure that the store premises are kept in a respectable manner, therefore a provision has been set up for the refurbishment and modernisation of the retail outlets, which are to be carried out every five to ten years. The provision is disclosed under note 22 to the accounts, provisions for liabilities.

Going concern
It is the expectation of the directors that the company will be able to meet liabilities as they fall due over a period of at least 12 months. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

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

2024 2023
£    £   
Retail take away outlets 5,706,089 5,765,639
Retail coffee outlets 9,762,655 8,725,071
Rental income 344,276 189,333
Service office income 714,275 654,154
Management charges - 80,000
16,527,295 15,414,197

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,350,080 4,089,832
Social security costs 249,745 234,489
Other pension costs 54,895 49,343
4,654,720 4,373,664

The average number of employees during the year was as follows:
2024 2023

Directors 2 2
Operations manager 2 2
Finance manager 1 1
Administration 2 2
Store employees 314 305
321 312

The average number of employees by undertakings that were proportionately consolidated during the year was 314 (2023 - 62 ) .

2024 2023
£    £   
Directors' remuneration 37,710 35,690

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 3,083 3,320
Depreciation - owned assets 725,317 712,008
Depreciation - assets on hire purchase contracts 9,167 14,910
Loss on disposal of fixed assets 239,363 84,185
Franchise amortisation 35,407 33,157
Goodwill amortisation 1,500 1,500
Goodwill on acquisition amortisation (101,692 ) -
Auditors' remuneration 18,250 16,250
Auditors' remuneration for non audit work 9,808 8,444

6. EXCEPTIONAL ITEMS
2024 2023
£    £   
Loan release (4,139 ) 196,548

The loan release relates to the intercompany balance owed from Evovle Foods Limited of £4,139. Last year the loan release relates to the intercompany balances owed to Evolve Foods Limited of £53,463 and Larentia Limited of £145,585 and the intercompany balances due from SRK Group Limited of £2,500.

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 331,474 155,153
Corporation tax interest - 242
Hire purchase 1,165 3,370
332,639 158,765

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 214,882 18,440

Deferred tax (131,678 ) 334,770
Tax on profit 83,204 353,210

UK corporation tax has been charged at 25 % (2023 - 19 %).

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,420,232 1,684,272
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

355,058

320,012

Effects of:
Expenses not deductible for tax purposes 303 235
Capital allowances in excess of depreciation (32,199 ) (73,239 )
Deferred tax (131,678 ) 334,770
Loan release 1,035 (37,344 )
Goodwill amortisation (25,423 ) -
Loss on disposal 59,840 15,995
Loss utilised during the year - (13,799 )
Dividends exempt (130,000 ) (193,420 )
Other items (13,732 ) -
Total tax charge 83,204 353,210

9. INDIVIDUAL PROFIT AND LOSS ACCOUNT

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.


10. DIVIDENDS

Dividends of £260,000 were voted from ACCA Group Limited to the shareholders (2023: £340,000).

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
on
Franchise Goodwill acquisition Totals
£    £    £    £   
COST
At 1 April 2023 391,571 15,000 (1,016,915 ) (610,344 )
Additions 80,000 - - 80,000
At 31 March 2024 471,571 15,000 (1,016,915 ) (530,344 )
AMORTISATION
At 1 April 2023 245,644 13,500 - 259,144
Amortisation for year 35,407 1,500 (101,692 ) (64,785 )
At 31 March 2024 281,051 15,000 (101,692 ) 194,359
NET BOOK VALUE
At 31 March 2024 190,520 - (915,223 ) (724,703 )
At 31 March 2023 145,927 1,500 (1,016,915 ) (869,488 )

This negative goodwill has been accounted for on the share for share exchanges with ACCA Limited and ACCA Office Limited, details are in note 13.

12. TANGIBLE FIXED ASSETS

Group
Improveme
Freehold Short to
property leasehold property
£    £    £   
COST
At 1 April 2023 2,232,194 402,968 1,120,688
Additions - 12,225 167,379
Disposals - (4,183 ) (36,514 )
At 31 March 2024 2,232,194 411,010 1,251,553
DEPRECIATION
At 1 April 2023 70,687 220,261 752,964
Charge for year 44,644 30,249 73,923
Eliminated on disposal - (558 ) (4,705 )
At 31 March 2024 115,331 249,952 822,182
NET BOOK VALUE
At 31 March 2024 2,116,863 161,058 429,371
At 31 March 2023 2,161,507 182,707 367,724

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 6,497,933 311,368 332,298 10,897,449
Additions 742,474 128,998 27,271 1,078,347
Disposals (209,302 ) (101,968 ) (5,021 ) (356,988 )
At 31 March 2024 7,031,105 338,398 354,548 11,618,808
DEPRECIATION
At 1 April 2023 3,907,709 111,082 280,701 5,343,404
Charge for year 496,099 51,006 38,563 734,484
Eliminated on disposal (25,830 ) (25,630 ) (2,231 ) (58,954 )
At 31 March 2024 4,377,978 136,458 317,033 6,018,934
NET BOOK VALUE
At 31 March 2024 2,653,127 201,940 37,515 5,599,874
At 31 March 2023 2,590,224 200,286 51,597 5,554,045

Freehold properties are leased to group companies on a commercial basis.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 81,325
Additions 110,000
Disposals (81,325 )
At 31 March 2024 110,000
DEPRECIATION
At 1 April 2023 14,910
Charge for year 9,167
Eliminated on disposal (14,910 )
At 31 March 2024 9,167
NET BOOK VALUE
At 31 March 2024 100,833
At 31 March 2023 66,415

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 553,006
NET BOOK VALUE
At 31 March 2024 553,006
At 31 March 2023 553,006
Company
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2023 4,762,574 553,006 5,315,580
Additions 100 - 100
At 31 March 2024 4,762,674 553,006 5,315,680
NET BOOK VALUE
At 31 March 2024 4,762,674 553,006 5,315,680
At 31 March 2023 4,762,574 553,006 5,315,580

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. 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

ACCA Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Coffee franchise
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 4,965,648 4,439,712
Profit for the year 525,936 251,994

On the 1 April 2021, 100% of the shares in ACCA Limited along with the two subsidiaries, AKS & JSS Limited and Misenum Limited were sold to ACCA Group Limited for a consideration of £2,375,000 and 98 shares in ACCA Group Limited.

No cash was exchanged for the shares in ACCA Limited this was a share for share exchange, the consideration of £2,375,000 has been recognised as share premium on the balance sheet of ACCA Group Limited.

Goodwill
The calculation of goodwill is as follows:
2022
£
Total consideration 2,375,098
Fair value of net assets at acquisition as at 1 April 2021 (3,404,977 )

Negative Goodwill (1,029,879 )

The goodwill will be amortized to the profit and loss account over the next 10 years.

This company is included in the consolidated accounts.

Misenum Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Coffee franchise
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 7,398 (95,239 )
Profit/(loss) for the year 102,637 (54,459 )

This company is included in the consolidated accounts.

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS - continued

AKS & JSS Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Coffee franchise
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (140,984 ) (187,113 )
Profit/(loss) for the year 46,129 (57,734 )

This company is included in the consolidated accounts.

ACCA Land Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Operating rental properties
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 3,020,103 3,012,861
Profit/(loss) for the year 7,242 (25,590 )

On the 1 September 2021, 100% of the shares in ACCA Land Limited were sold to ACCA Group Limited for a consideration of £2,375,000 and 400 shares in ACCA Group Limited.

No cash was exchanged for the shares in ACCA Land Limited this was a share for share exchange, the consideration of £2,375,000 has been recognised as share premium on the balance sheet of ACCA Group Limited.

Goodwill
The calculation of goodwill is as follows:
2022
£
Total consideration 2,387,275
Fair value of net assets at acquisition as at 1 September 2021 (2,342,683 )

Goodwill 44,592

The goodwill will be amortized to the profit and loss account over the next 10 years.

This company is included in the consolidated accounts.

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS - continued

ACCA Office Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Rental franchise
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 688,835 541,541
Profit for the year 147,394 177,000

On the 1 September 2021, 100% of the shares in ACCA Office Limited were sold to ACCA Group Limited in exchange for 100 shares in ACCA Group Limited.

Goodwill
The calculation of goodwill is as follows:
2022
£
Total consideration 100
Fair value of net assets at acquisition as at 1 September 2021 (31,728 )

Negative Goodwill (31,628 )

The goodwill will be amortized to the profit and loss account over the next 10 years.

This company is included in the consolidated accounts.

Aprex Foods Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Food franchise
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1 1

This company is included in the consolidated accounts.

ACCA Foods Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, England, SG4 0TY
Nature of business: Food franchise
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (59,395 ) 100
Loss for the year (59,495 ) -

This company is included in the consolidated accounts.


ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2023 6,605,240
Additions 3,967,814
At 31 March 2024 10,573,054
NET BOOK VALUE
At 31 March 2024 10,573,054
At 31 March 2023 6,605,240

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 167,494
Valuation in 2013 126,921
Valuation in 2014 (74,265 )
Valuation in 2015 467,543
Valuation in 2017 339,828
Valuation in 2021 271,017
Valuation in 2022 711,264
Cost 8,563,252
10,573,054

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 8,563,252 4,595,438

The investment properties were valued on open market basis on 31 March 2024 by the directors .

15. STOCKS

Group
2024 2023
£    £   
Stocks 135,010 127,544

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

16. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 195,391 339,116 - -
Amounts owed by group undertakings - - 796,743 469,586
Amounts owed by associates 1,905,327 1,058,803 1,905,327 1,058,803
Other debtors 100,000 - 100,000 -
Directors' loan accounts 36,190 88,551 36,190 88,551
Tax 662 - 660 1
VAT - - 17 -
Other debtors and prepayments 2,285,191 2,028,625 - -
4,522,761 3,515,095 2,838,937 1,616,941

Amounts falling due after more than one year:
Other debtors 100,000 100,000 - -

Aggregate amounts 4,622,761 3,615,095 2,838,937 1,616,941

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 19) 329,872 258,413 - -
Hire purchase contracts (see note 20) 24,167 11,053 - -
Trade creditors 674,613 610,905 - -
Amounts owed to group undertakings - - 1,873,151 1,067,587
Tax 228,460 21,331 - 10,918
Social security and other taxes 106,588 96,149 - -
VAT 399,390 395,579 - -
Employee wages 305,119 280,051 - -
Pension contributions 16,297 11,027 - -
Other creditors and accruals 3,029,154 2,846,313 - -
5,113,660 4,530,821 1,873,151 1,078,505

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

Group
2024 2023
£    £   
Bank loans (see note 19) 7,212,350 4,840,978
Hire purchase contracts (see note 20) 46,667 53,587
Other creditors and accruals 832,500 632,500
8,091,517 5,527,065

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

19. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 329,872 258,413
Amounts falling due between one and two years:
Bank loans - 1-2 years 86,400 62,463
Amounts falling due between two and five years:
Bank loans - 2-5 years 929,785 749,082
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 6,196,165 4,029,433

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 24,167 11,053
Between one and five years 46,667 53,587
70,834 64,640

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,111,287 1,123,680
Between one and five years 3,570,740 3,691,115
In more than five years 4,148,583 4,352,865
8,830,610 9,167,660

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 7,542,222 5,099,391
Hire purchase 70,834 64,640
7,613,056 5,164,031

22. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 1,009,442 1,141,120

Group
Deferred
tax
£   
Balance at 1 April 2023 1,141,120
Provided during year (131,678 )
Balance at 31 March 2024 1,009,442

Total provisions relating to store refurbishments provision amount to £2,232,500, split as follows -

Amounts falling due within one year held in other creditors & accruals - £1,600,000.

Amounts falling due after more than one year held in other creditors & accruals - £632,500.

The amounts falling due within one year relate to outlets which are due to be refurbished during the financial year ending 31 March 2025. The remaining outlets fall due for refurbishment in more than one year but within the next 5 years.

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
750 Ordinary £1 750 750

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

24. RESERVES

Group
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 2,789,073 5,300,001 (1,324,117 ) 6,764,957
Profit for the year 1,337,028 1,337,028
Dividends (260,000 ) (260,000 )
At 31 March 2024 3,866,101 5,300,001 (1,324,117 ) 7,841,985

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 756,274 5,300,001 6,056,275
Profit for the year 510,138 510,138
Dividends (260,000 ) (260,000 )
At 31 March 2024 1,006,412 5,300,001 6,306,413


25. PENSION COMMITMENTS

The company is operating an auto enrolment pension scheme. During the year the company contributed £54,895 (2023: £49,343). Pension contributions owed at the balance sheet date were £17,151 (2023: £11,027).

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

26. RELATED PARTY DISCLOSURES

Larentia Capital Limited
A company in which ACCA Group Limited is a shareholder.

Amount due from related party at the balance sheet date is £569,885 (2023: £469,885).

Dividends were paid to ACCA Group Limited this year totalling £340,000 (2023: £700,000).

Management fees were received from Larentia Capital Limited during the year of £54,786 (2023: £54,786).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

SRK Group Limited
A company in which ACCA Group Limited is a shareholder.

Amount due to related party at the balance sheet date is £204,655 (2023: £104,655).

Management fees were received from SRK Group Limited during the year of £4,214 (2023: £4,214).

Costs were recharged this year of £100,000 (2023: £100,000).

The loan is unsecured, there is no interest payable and there are no agreed repayment terms.

AAA Commercial Limited
A company in which ACCA Group Limited is an indirect shareholder.

Amount due from related party at the balance sheet date is £33,000 (2023: £33,000).

The loan is unsecured, there is no interest payable and there are no agreed repayment terms.

WFF (York) Limited
A company in which ACCA Group Limited is an indirect shareholder.

Amount due from related party at the balance sheet date is £250,000 (2023: £250,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

York Group Limited
A company in which ACCA Group Limited is a shareholder.

Amount due from related party at the balance sheet date is £120,000 (2023: £100,000).

Dividends were paid to ACCA Group Limited this year totalling £180,000.

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

Hawkins Developments Projects Limited
A company in which ACCA Group Limited is a shareholder.

Amount due from related party at the balance sheet date is £2,464,950 (2023: £1,649,950).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

Viva Property Group Limited
A company in which ACCA Group Limited is a shareholder.

Amount due from related party as the balance sheet date is £391,474 (2023: £359,950).

ACCA GROUP LIMITED (REGISTERED NUMBER: 12554615)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

27. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by J S Sohal and L S Sohal.