IRIS Accounts Production v24.3.2.46 04373679 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 true true false true true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043736792023-03-31043736792024-03-31043736792023-04-012024-03-31043736792022-03-31043736792022-04-012023-03-31043736792023-03-3104373679ns15:EnglandWales2023-04-012024-03-3104373679ns14:PoundSterling2023-04-012024-03-3104373679ns10:Director12023-04-012024-03-3104373679ns10:Director22023-04-012024-03-3104373679ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104373679ns10:FRS1022023-04-012024-03-3104373679ns10:Audited2023-04-012024-03-3104373679ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3104373679ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3104373679ns10:FullAccounts2023-04-012024-03-310437367912023-04-012024-03-3104373679ns10:OrdinaryShareClass12023-04-012024-03-3104373679ns10:CompanySecretary12023-04-012024-03-3104373679ns10:RegisteredOffice2023-04-012024-03-3104373679ns5:CurrentFinancialInstruments2024-03-3104373679ns5:CurrentFinancialInstruments2023-03-3104373679ns5:Non-currentFinancialInstruments2024-03-3104373679ns5:Non-currentFinancialInstruments2023-03-3104373679ns5:ShareCapital2024-03-3104373679ns5:ShareCapital2023-03-3104373679ns5:RetainedEarningsAccumulatedLosses2024-03-3104373679ns5:RetainedEarningsAccumulatedLosses2023-03-3104373679ns5:ShareCapital2022-03-3104373679ns5:RetainedEarningsAccumulatedLosses2022-03-3104373679ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3104373679ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-310437367912023-04-012024-03-3104373679ns5:NetGoodwill2023-04-012024-03-3104373679ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3104373679ns5:LeaseholdImprovements2023-04-012024-03-3104373679ns5:FurnitureFittings2023-04-012024-03-3104373679ns5:MotorVehicles2023-04-012024-03-3104373679ns5:ComputerEquipment2023-04-012024-03-3104373679ns5:ReportableOperatingSegment12023-04-012024-03-3104373679ns5:ReportableOperatingSegment12022-04-012023-03-3104373679ns5:ReportableOperatingSegment22023-04-012024-03-3104373679ns5:ReportableOperatingSegment22022-04-012023-03-3104373679ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-04-012024-03-3104373679ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2022-04-012023-03-3104373679ns5:HirePurchaseContracts2023-04-012024-03-3104373679ns5:HirePurchaseContracts2022-04-012023-03-3104373679ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-04-012024-03-3104373679ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-04-012023-03-3104373679ns5:OwnedAssets2023-04-012024-03-3104373679ns5:OwnedAssets2022-04-012023-03-3104373679ns5:NetGoodwill2022-04-012023-03-3104373679ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3104373679ns5:PatentsTrademarksLicencesConcessionsSimilar2022-04-012023-03-3104373679112023-04-012024-03-3104373679112022-04-012023-03-3104373679ns5:NetGoodwill2023-03-3104373679ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3104373679ns5:NetGoodwill2024-03-3104373679ns5:PatentsTrademarksLicencesConcessionsSimilar2024-03-3104373679ns5:NetGoodwill2023-03-3104373679ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3104373679ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3104373679ns5:LeaseholdImprovements2023-03-3104373679ns5:FurnitureFittings2023-03-3104373679ns5:ShortLeaseholdAssetsns5:LandBuildings2024-03-3104373679ns5:LeaseholdImprovements2024-03-3104373679ns5:FurnitureFittings2024-03-3104373679ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-3104373679ns5:LeaseholdImprovements2023-03-3104373679ns5:FurnitureFittings2023-03-3104373679ns5:MotorVehicles2023-03-3104373679ns5:ComputerEquipment2023-03-3104373679ns5:MotorVehicles2024-03-3104373679ns5:ComputerEquipment2024-03-3104373679ns5:MotorVehicles2023-03-3104373679ns5:ComputerEquipment2023-03-3104373679ns5:CostValuation2023-03-3104373679ns5:Subsidiary12023-04-012024-03-3104373679ns5:Subsidiary112023-04-012024-03-3104373679ns5:Subsidiary22023-04-012024-03-31043736793ns5:Subsidiary22023-04-012024-03-3104373679ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104373679ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104373679ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3104373679ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3104373679ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104373679ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104373679ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3104373679ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3104373679ns5:HirePurchaseContracts2024-03-3104373679ns5:HirePurchaseContracts2023-03-3104373679ns5:WithinOneYear2024-03-3104373679ns5:WithinOneYear2023-03-3104373679ns5:BetweenOneFiveYears2024-03-3104373679ns5:BetweenOneFiveYears2023-03-3104373679ns5:MoreThanFiveYears2024-03-3104373679ns5:MoreThanFiveYears2023-03-3104373679ns5:AllPeriods2024-03-3104373679ns5:AllPeriods2023-03-3104373679ns5:Secured2024-03-3104373679ns5:Secured2023-03-3104373679ns5:DeferredTaxation2023-03-3104373679ns5:DeferredTaxation2023-04-012024-03-3104373679ns5:DeferredTaxation2024-03-3104373679ns10:OrdinaryShareClass12024-03-3104373679ns5:RetainedEarningsAccumulatedLosses2023-03-31
REGISTERED NUMBER: 04373679 (England and Wales)



















ACCA LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ACCA LIMITED (REGISTERED NUMBER: 04373679)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Profit and Loss Account 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 14

Cash Flow Statement 15

Notes to the Cash Flow Statement 16

Notes to the Financial Statements 17


ACCA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J S Sohal
L S Sohal





SECRETARY: L S Sohal





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





REGISTERED NUMBER: 04373679 (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 LIMITED (REGISTERED NUMBER: 04373679)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present this strategic report for the year ended 31st March 2024.

REVIEW OF BUSINESS
The company has operated retail food outlets (or stores) for several years and during this time the management team has accumulated a wealth of knowledge, experience and expertise in this industry. The company anticipates opening new outlets in the future.

Turnover has increased by 6% (2023: increased by 4%) this year, with the gross margin this year increasing slightly from 41% to 42%. The company's financial position has improved this year with a net asset position of £4,965,648 (2023: £4,439,712) along with a strong cash position of £840,598 (2023: £1,163,962).

PRINCIPAL RISKS AND UNCERTAINTIES
Competition
The company operates in a highly competitive market particular around service, price and quality of the 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 company 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 nature 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 up new stores, some loss making stores will be closed down as well.

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, rising inflation and the increase in the 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 LIMITED (REGISTERED NUMBER: 04373679)

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 4.76% (2023: 6.53%).

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 200.46% (2023: 178.10%).

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 performance, even in light of a domestic and global volatile economic climate.

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

ON BEHALF OF THE BOARD:





J S Sohal - Director


3 December 2024

ACCA LIMITED (REGISTERED NUMBER: 04373679)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the operation of retail take away food and coffee outlets.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

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.

CHARITABLE DONATIONS
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 LIMITED (REGISTERED NUMBER: 04373679)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company'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 LIMITED (REGISTERED NUMBER: 04373679)

Opinion
We have audited the financial statements of ACCA Limited (the 'company') for the year ended 31 March 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 2024 and of its 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 company 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 related 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 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 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 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 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 LIMITED (REGISTERED NUMBER: 04373679)


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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ACCA LIMITED (REGISTERED NUMBER: 04373679)


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 LIMITED (REGISTERED NUMBER: 04373679)


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 LIMITED (REGISTERED NUMBER: 04373679)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 3 14,130,849 13,315,787

Cost of sales 8,163,154 7,845,236
GROSS PROFIT 5,967,695 5,470,551

Administrative expenses 5,380,149 5,168,463
587,546 302,088

Other operating income 86,538 83,993
OPERATING PROFIT 674,084 386,081

Loan release 5 - 46,548
674,084 432,629


Interest payable and similar expenses 6 43,345 26,188
PROFIT BEFORE TAXATION 7 630,739 406,441

Tax on profit 8 104,803 154,447
PROFIT FOR THE FINANCIAL YEAR 525,936 251,994

ACCA LIMITED (REGISTERED NUMBER: 04373679)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 525,936 251,994


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

525,936

251,994

ACCA LIMITED (REGISTERED NUMBER: 04373679)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 65,104 82,636
Tangible assets 10 1,540,569 2,172,478
Investments 11 200 200
1,605,873 2,255,314

CURRENT ASSETS
Stocks 12 126,473 115,910
Debtors 13 7,335,884 5,560,996
Cash at bank and in hand 840,598 1,163,962
8,302,955 6,840,868
CREDITORS
Amounts falling due within one year 14 4,366,182 3,840,976
NET CURRENT ASSETS 3,936,773 2,999,892
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,542,646

5,255,206

CREDITORS
Amounts falling due after more than one
year

15

(348,986

)

(468,047

)

PROVISIONS FOR LIABILITIES 19 (228,012 ) (347,447 )
NET ASSETS 4,965,648 4,439,712

CAPITAL AND RESERVES
Called up share capital 20 100 100
Retained earnings 21 4,965,548 4,439,612
SHAREHOLDERS' FUNDS 4,965,648 4,439,712

ACCA LIMITED (REGISTERED NUMBER: 04373679)

BALANCE SHEET - continued
31 MARCH 2024


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 LIMITED (REGISTERED NUMBER: 04373679)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 4,187,618 4,187,718

Changes in equity
Total comprehensive income - 251,994 251,994
Balance at 31 March 2023 100 4,439,612 4,439,712

Changes in equity
Total comprehensive income - 525,936 525,936
Balance at 31 March 2024 100 4,965,548 4,965,648

ACCA LIMITED (REGISTERED NUMBER: 04373679)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (60,195 ) 884,778
Interest paid (42,472 ) (25,236 )
Interest element of hire purchase payments
paid

(873

)

(952

)
Tax paid - (83,127 )
Net cash from operating activities (103,540 ) 775,463

Cash flows from investing activities
Purchase of intangible fixed assets (5,000 ) (20,000 )
Purchase of tangible fixed assets (100,011 ) (888,259 )
Sale of tangible fixed assets 7,671 -
Net cash from investing activities (97,340 ) (908,259 )

Cash flows from financing activities
New loans in year - 200,000
Loan repayments in year (114,484 ) (235,458 )
Capital repayments in year (8,000 ) (8,000 )
Net cash from financing activities (122,484 ) (43,458 )

Decrease in cash and cash equivalents (323,364 ) (176,254 )
Cash and cash equivalents at beginning of
year

2

1,163,962

1,340,216

Cash and cash equivalents at end of year 2 840,598 1,163,962

ACCA LIMITED (REGISTERED NUMBER: 04373679)

NOTES TO THE 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 630,739 406,441
Depreciation charges 523,631 531,694
Loss on disposal of fixed assets 223,148 44,185
Finance costs 43,345 26,188
1,420,863 1,008,508
Increase in stocks (10,563 ) (1,155 )
Increase in trade and other debtors (1,774,888 ) (396,978 )
Increase in trade and other creditors 304,393 274,403
Cash generated from operations (60,195 ) 884,778

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 840,598 1,163,962
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,163,962 1,340,216


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 1,163,962 (323,364 ) 840,598
1,163,962 (323,364 ) 840,598
Debt
Finance leases (14,667 ) 8,000 (6,667 )
Debts falling due within 1 year (118,013 ) 2,092 (115,921 )
Debts falling due after 1 year (461,380 ) 112,394 (348,986 )
(594,060 ) 122,486 (471,574 )
Total 569,902 (200,878 ) 369,024

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

1. STATUTORY INFORMATION

ACCA Limited is a private company limited by shares, registered in England. The company's registered number and registered office address can be found on the company information page. The presentation currency of the financial statements is 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.

Preparation of consolidated financial statements
The financial statements contain information about ACCA Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, ACCA Group Limited, 71 Knowl Piece, Wilbury Way, Hitchin, SG4 0TY.

Related parties
For the purpose of these financial statements, a related party is considered to be a related party to the Company as defined by FRS 102.

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.

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

Revenue is recognised when performance obligations are satisfied and control has transferred to the customer. For goods sold in store, revenue is recognised at the point of sale.

Intangible fixed assets
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 business in 2015, is being amortised over its estimated economic life of 10 years.

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.
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

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Financial assets
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 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.


ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

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 year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company'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 19 to the accounts, provisions for liabilities.

Going concern
It is the expectation of the Director's 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 LIMITED (REGISTERED NUMBER: 04373679)

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

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

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

2024 2023
£    £   
Retail take away outlets 5,706,088 5,765,638
Retail coffee outlets 8,424,761 7,550,149
14,130,849 13,315,787

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,970,236 3,753,090
Social security costs 239,622 225,851
Other pension costs 49,382 44,605
4,259,240 4,023,546

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 3 3
Store employees 278 282
286 290

2024 2023
£    £   
Directors' remuneration 25,140 23,793

5. EXCEPTIONAL ITEMS
2024 2023
£    £   
Loan release - 46,548

The loan release last year relates to the intercompany balances owed to Evolve Foods Limited of £53,463 and the intercompany balances due from SRK Group Limited of £2,500 and Larentia Limited totalling £4,415.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 42,472 25,236
Hire purchase 873 952
43,345 26,188

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

7. PROFIT BEFORE TAXATION

The profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 3,083 3,320
Depreciation - owned assets 501,101 507,036
Loss on disposal of fixed assets 223,148 44,185
Franchise amortisation 21,032 23,157
Goodwill amortisation 1,500 1,500
Auditors' remuneration 8,250 8,250
Auditors' remuneration for non audit work 3,750 3,750
Operating lease rentals 850,274 787,714

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 224,238 -

Deferred tax (119,435 ) 154,447
Tax on profit 104,803 154,447

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

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 630,739 406,441
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

157,685

77,224

Effects of:
Capital allowances in excess of depreciation - (78,919 )
Depreciation in excess of capital allowances 87,225 -
Loss on disposal of assets 55,787 8,395
Leased cars 303 260
Loan release - (8,844 )
Lease premium - (26 )
Group relief adjustment (76,762 ) 1,910
Deferred tax (119,435 ) 154,447
Total tax charge 104,803 154,447

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

9. INTANGIBLE FIXED ASSETS
Franchise Goodwill Totals
£    £    £   
COST
At 1 April 2023 291,571 15,000 306,571
Additions 5,000 - 5,000
At 31 March 2024 296,571 15,000 311,571
AMORTISATION
At 1 April 2023 210,435 13,500 223,935
Amortisation for year 21,032 1,500 22,532
At 31 March 2024 231,467 15,000 246,467
NET BOOK VALUE
At 31 March 2024 65,104 - 65,104
At 31 March 2023 81,136 1,500 82,636

Amortisation expense for the year and last year are included in administrative expenses in the statutory income statement. The reasons for amortisation are disclosed within the accounting policies.

10. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and
leasehold property fittings
£    £    £   
COST
At 1 April 2023 217,960 927,552 5,217,515
Additions - 8,870 59,613
Disposals (4,183 ) (36,514 ) (209,302 )
At 31 March 2024 213,777 899,908 5,067,826
DEPRECIATION
At 1 April 2023 153,904 689,214 3,530,479
Charge for year 11,280 47,594 364,441
Eliminated on disposal (558 ) (4,705 ) (25,830 )
At 31 March 2024 164,626 732,103 3,869,090
NET BOOK VALUE
At 31 March 2024 49,151 167,805 1,198,736
At 31 March 2023 64,056 238,338 1,687,036

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

10. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 229,043 263,224 6,855,294
Additions 13,998 17,530 100,011
Disposals (19,643 ) (5,021 ) (274,663 )
At 31 March 2024 223,398 275,733 6,680,642
DEPRECIATION
At 1 April 2023 95,972 213,247 4,682,816
Charge for year 41,839 35,947 501,101
Eliminated on disposal (10,520 ) (2,231 ) (43,844 )
At 31 March 2024 127,291 246,963 5,140,073
NET BOOK VALUE
At 31 March 2024 96,107 28,770 1,540,569
At 31 March 2023 133,071 49,977 2,172,478

Depreciation expense for the year and last year are included in administrative expenses in the statutory income statement.

11. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 31 March 2024 200
NET BOOK VALUE
At 31 March 2024 200
At 31 March 2023 200

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

Misenum Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, SG4 0TY
Nature of business: Coffee franchise
%
Class of shares: holding
Ordinary 100.00

AKS & JSS Limited
Registered office: 71 Knowl Piece, Wilbury Way, Hitchin, SG4 0TY
Nature of business: Coffee franchise
%
Class of shares: holding
Ordinary 100.00

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

12. STOCKS
2024 2023
£    £   
Stocks 126,473 115,910

13. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 6,214,419 4,480,699
Sundry debtors and prepayments 1,021,465 980,297
7,235,884 5,460,996

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

Aggregate amounts 7,335,884 5,560,996

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 16) 115,921 118,013
Hire purchase contracts (see note 17) 6,667 8,000
Trade creditors 531,568 468,987
Amounts owed to group undertakings 547,429 587,276
Tax 224,238 -
Social security and other taxes 101,827 89,917
VAT 424,361 350,696
Employee wages 305,119 280,051
Pension contributions 16,297 11,027
Other creditors & accruals 2,092,755 1,927,009
4,366,182 3,840,976

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 16) 348,986 461,380
Hire purchase contracts (see note 17) - 6,667
348,986 468,047

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

16. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 115,921 118,013

Amounts falling due between two and five years:
Bank loans 348,986 461,380

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 6,667 8,000
Between one and five years - 6,667
6,667 14,667

Non-cancellable operating leases
2024 2023
£    £   
Within one year 785,174 846,841
Between one and five years 2,266,288 2,642,030
In more than five years 2,089,905 2,590,854
5,141,367 6,079,725

18. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 464,907 579,393
Hire purchase 6,667 14,667
471,574 594,060

The bank loans are secured by way of a fixed and floating charge over the company's assets and undertaking. Fixed monthly repayments of capital and interest are made in accordance with loan agreements.

Personal guarantees have been given by the director to the company's bankers in respect of bank loan facilities.

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 228,012 347,447

Deferred
tax
£   
Balance at 1 April 2023 347,447
Provided during year (119,435 )
Balance at 31 March 2024 228,012

Total provisions relating to store refurbishments provision amount to £1,600,000 (2023: £1,600,000), this is held in other creditors and accruals falling due within one year.

The amounts falling due within one year relate to outlets which are due to be refurbished during the financial year ending 31 March 2025.

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

The shares carry full rights with regards to voting, participation and dividends. In the event of the company being wound up, the shareholders will be entitled to a share in the proceeds of the company's assets after all the debts have been paid.

21. RESERVES
Retained
earnings
£   

At 1 April 2023 4,439,612
Profit for the year 525,936
At 31 March 2024 4,965,548

22. PENSION COMMITMENTS

The company is operating an auto enrolment pension scheme. During the year the company contributed £49,382 (2023: £44,605). Pension contributions owed at the balance sheet date were £16,297 (2023: £11,027).

ACCA LIMITED (REGISTERED NUMBER: 04373679)

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

23. RELATED PARTY DISCLOSURES

Larentia Capital Limited
A company in which Mr J S Sohal is a director and joint indirect shareholder via ACCA Group Limited.

Amount due from related party at the balance sheet date is £418,319 (2023: £418,319).

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

Management charges were recieved from this company totalling £54,786 (2023: £54,786).

SRK Group Limited
A company in which Mr L S Sohal is a director and an indirect shareholder via ACCA Group Limited.

Management charges were received from this company totalling £4,214 (2023: £4,214).

Hawkins Developments Projects Limited
A company in which Mr L S Sohal is a director and an indirect shareholder via ACCA Group Limited.

Amount due from related party at the balance sheet date is £451,097 (2023: £451,097).

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

24. ULTIMATE CONTROLLING PARTY

Parent Company
ACCA Group Limited is regarded by the directors as being the ultimate parent company.

Ultimate Controlling Party
J Sohal and L Sohal jointly control the parent company.

ACCA Group Limited prepares group consolidated financial statements and they can be obtained from the following address:

71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY