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REGISTERED NUMBER: 08932017 (England and Wales)






















Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31 March 2024

for

Alderforce SC Limited

Alderforce SC Limited (Registered number: 08932017)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Alderforce SC Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R J Adil





SECRETARY: M Adil





REGISTERED OFFICE: 34-36 London Road
Wembley
Middlesex
HA9 7EX





REGISTERED NUMBER: 08932017 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Alderforce SC Limited (Registered number: 08932017)

Strategic Report
for the Year Ended 31 March 2024

The director presents his strategic report for the year ended 31 March 2024.

We aim to present a balanced and comprehensive review of the development and performance of the business during the year and our position at the year end by reflection of the size and non-complex nature of the business.

REVIEW OF BUSINESS
During the year, the company continued to operate as a KFC franchisee.

Turnover for the company has increased from £21,420,447 to £22,290,194, this has also caused the gross profit percentage to increase from 22.7% to 26.9% this is due to a decrease in food and beverage costs for the business.

Overheads have also increased from £4,513,107 to £5,055,488.

The company recorded a net cash inflow from operating activities of £574,550 (2023: outflow of £553,613) due to a 4% increase in income and a 17.3% decrease in total expenditure.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks of the company are changes in consumer spending habits, the entry of new competitors within geographical areas in which the company operates, interest rate increases impacting on the financing of operations and new stores and changes in government controls and policies towards the fast food industry. The company continues to monitor this and KFC has continued to evolve its menu and set appropriate recommended prices.

Other risks
The Director continues to assess risk arising from food and wage inflation by budgeting and reducing wastage and targeting sales growth to counter act reducing margins.

Financial key performance indicators

Financial key performance indicators for the stores are the level of turnover, gross profit and EBITDA.

Turnover: £22,290,194 (2023: £21,430,447)
Gross profit: £6,001,852 (2023: £4,854,521)
EBITDA: £1,392,885 (2023: £815,057)

Other key performance indicators

The principal non-financial key performance indicator is the performance against inspections by Kentucky Fried Chicken, and the company continues to achieve satisfactory performance throughout the year.

ON BEHALF OF THE BOARD:





R J Adil - Director


7 March 2025

Alderforce SC Limited (Registered number: 08932017)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The company's principle activity is that of operating as a KFC franchisee.

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

The profit for the year, after taxation, amounted to £687,860 (2023: £272,756).

The Director has recommended that no dividends be paid in respect of the current year.

FUTURE DEVELOPMENTS
As a result of the impact of COVID-19 the company has identified the importance and strength of both the offering of delivery and operating drive thru stores. The Director continues to look for future store openings which will maximise these opportunities.

Stores will continue to be refurbished in order to meet KFC guidelines and remain at a high standard.

DIRECTOR
R J Adil held office during the whole of the period from 1 April 2023 to the date of this report.

FINANCIAL INSTRUMENTS
The company uses a variety of financial instruments, including cash, inter-company debt and trade creditors that arise from its operations. The main purpose of these financial instruments are to provide working capital for the company's operations.

The company is financed with appropriate short-term finance to match the need of the business and enable the company to utilise is working capital in the most effective way.

ENGAGEMENT WITH EMPLOYEES
The company's policy is to consult and discuss with employees, at meetings, matters likely to affect employees' interests.

Information of matters of concern to employees is given through the information bulletins and reports which seeks to achieve a common awareness on the part of all employees of the financial economic factors affecting the company's performance.

Disabled employees

The company's policy to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed to ensure suitable opportunities for each disabled person. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

DISCLOSURE IN THE STRATEGIC REPORT
Information previously included in the director's report in respect of the business review, key performance indicators and principal risks and uncertainties can now be found in the strategic report in accordance with S414C(11) of the Companies Act 2006.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is 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.


Alderforce SC Limited (Registered number: 08932017)

Report of the Director
for the Year Ended 31 March 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES - continued
The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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
The auditors, Wright Vigar Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R J Adil - Director


7 March 2025

Report of the Independent Auditors to the Members of
Alderforce SC Limited

Opinion
We have audited the financial statements of Alderforce SC Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, 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 relating to going concern
In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Alderforce SC Limited


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on pages three and four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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

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

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We plan our work to gain an understanding of the significant laws and regulations that are of significance to the
entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its
legal and regulatory framework.
- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by
making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
- Substantive procedures performed in accordance with the ISAs (UK).
- Challenging assumptions and judgments made by management in its significant accounting estimates.
- Identifying and testing journal entries, in particular material journal entries and an assessment of year end
journals.
- Assessing the extent of compliance with the relevant laws and regulations.

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.

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.




Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

11 March 2025

Alderforce SC Limited (Registered number: 08932017)

Income Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 22,290,194 21,430,447

Cost of sales 16,288,342 16,575,926
GROSS PROFIT 6,001,852 4,854,521

Administrative expenses 5,261,248 4,513,107
740,604 341,414

Other operating income 50,617 87,613
OPERATING PROFIT 4 791,221 429,027

Interest receivable and similar income 524 -
791,745 429,027

Interest payable and similar expenses 5 142,448 90,233
PROFIT BEFORE TAXATION 649,297 338,794

Tax on profit 6 115,757 66,038
PROFIT FOR THE FINANCIAL YEAR 533,540 272,756

Alderforce SC Limited (Registered number: 08932017)

Other Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 533,540 272,756


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

533,540

272,756

Alderforce SC Limited (Registered number: 08932017)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 49,017 82,787
Tangible assets 8 1,910,774 1,823,377
1,959,791 1,906,164

CURRENT ASSETS
Stocks 9 64,848 92,314
Debtors 10 7,169,305 6,363,654
Cash at bank and in hand 1,042,964 1,300,954
8,277,117 7,756,922
CREDITORS
Amounts falling due within one year 11 3,625,398 3,337,400
NET CURRENT ASSETS 4,651,719 4,419,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,611,510

6,325,686

CREDITORS
Amounts falling due after more than one
year

12

(1,568,973

)

(1,816,689

)

PROVISIONS FOR LIABILITIES 15 (339,550 ) (339,550 )
NET ASSETS 4,702,987 4,169,447

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 4,702,887 4,169,347
SHAREHOLDERS' FUNDS 4,702,987 4,169,447

The financial statements were approved by the director and authorised for issue on 7 March 2025 and were signed by:





R J Adil - Director


Alderforce SC Limited (Registered number: 08932017)

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 3,896,591 3,896,691

Changes in equity
Total comprehensive income - 272,756 272,756
Balance at 31 March 2023 100 4,169,347 4,169,447

Changes in equity
Total comprehensive income - 533,540 533,540
Balance at 31 March 2024 100 4,702,887 4,702,987

Alderforce SC Limited (Registered number: 08932017)

Cash Flow Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 582,356 (356,672 )
Interest paid - (36 )
Tax paid (7,806 ) (196,905 )
Net cash from operating activities 574,550 (553,613 )

Cash flows from investing activities
Purchase of tangible fixed assets (449,531 ) (245,016 )
Interest received 524 -
Net cash from investing activities (449,007 ) (245,016 )

Cash flows from financing activities
Loan repayments in year (241,085 ) (218,686 )
Interest paid (142,448 ) (90,197 )
Net cash from financing activities (383,533 ) (308,883 )

Decrease in cash and cash equivalents (257,990 ) (1,107,512 )
Cash and cash equivalents at beginning
of year

2

1,300,954

2,408,466

Cash and cash equivalents at end of year 2 1,042,964 1,300,954

Alderforce SC Limited (Registered number: 08932017)

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 649,297 338,794
Depreciation charges 395,904 380,194
Finance costs 142,448 90,233
Finance income (524 ) -
1,187,125 809,221
Decrease in stocks 27,466 4,261
Increase in trade and other debtors (805,651 ) (716,057 )
Increase/(decrease) in trade and other creditors 173,416 (454,097 )
Cash generated from operations 582,356 (356,672 )

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 1,042,964 1,300,954
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,300,954 2,408,466


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 1,300,954 (257,990 ) 1,042,964
1,300,954 (257,990 ) 1,042,964
Debt
Debts falling due within 1 year (254,608 ) (6,631 ) (261,239 )
Debts falling due after 1 year (1,816,689 ) 247,716 (1,568,973 )
(2,071,297 ) 241,085 (1,830,212 )
Total (770,343 ) (16,905 ) (787,248 )

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Alderforce SC 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 Company Information page.

2. ACCOUNTING POLICIES

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

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

Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Franchise fees - 10 years

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method and reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property - Over the term of lease - 8.5 years - 20 years
Motor vehicles - 25% reducing balance
Fixtures and fittings - 20% reducing balance
Computer equipment - 20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
·The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
·Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive
obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate
can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and Loss Account in the year that the Company
becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date
of the expenditure required to settle the obligation, taking into account relevant risks and
uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Judgments in applying accounting policies and key sources of estimation uncertainty
In the process of applying its accounting policies, the company is required to make certain estimates, judgements and assumptions that it believes are reasonable based on the information available. These judgements, estimates and assumptions affect the amounts of assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognised during the reporting periods presented.

On an ongoing basis, the company evaluates its estimates using historical experience, consultation with experts and other methods considered reasonable in the particular circumstances. Actual results may differ significantly from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known.

Management has made judgment over the the estimated useful economic lives of fixtures, fittings and equipment.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,294,523 5,073,028
Social security costs 281,643 249,908
Other pension costs 51,476 56,124
5,627,642 5,379,060

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

Head office and management 2 1
Restaurant 356 387
358 388

2024 2023
£    £   
Director's remuneration 188,995 -

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 362,134 346,425
Franchise fees amortisation 33,770 33,770
Auditors' remuneration 16,080 36,160
Auditors' remuneration for non audit work 2,775 1,700

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 142,448 90,197
Other interest on overdue tax - 36
142,448 90,233

6. 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 115,757 50,557

Deferred tax - 15,481
Tax on profit 115,757 66,038

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 649,297 338,794
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

162,324

64,371

Effects of:
Expenses not deductible for tax purposes (411 ) 2,455
Capital allowances in excess of depreciation (37,714 ) (16,269 )
Deferred tax - 15,481
Amortisation allowable (8,442 ) -
Total tax charge 115,757 66,038

From 1 April 2023, the Corporation Tax main rate for profits will be increased to 25% applying to profits over
£250,000. This will effect the company's corporation tax charges accordingly.

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. INTANGIBLE FIXED ASSETS
Franchise
fees
£   
COST
At 1 April 2023
and 31 March 2024 337,704
AMORTISATION
At 1 April 2023 254,917
Amortisation for year 33,770
At 31 March 2024 288,687
NET BOOK VALUE
At 31 March 2024 49,017
At 31 March 2023 82,787

8. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,224,128 4,014,784 23,208 9,581 5,271,701
Additions - 449,531 - - 449,531
At 31 March 2024 1,224,128 4,464,315 23,208 9,581 5,721,232
DEPRECIATION
At 1 April 2023 835,295 2,590,333 18,486 4,210 3,448,324
Charge for year 26,593 332,445 1,180 1,916 362,134
At 31 March 2024 861,888 2,922,778 19,666 6,126 3,810,458
NET BOOK VALUE
At 31 March 2024 362,240 1,541,537 3,542 3,455 1,910,774
At 31 March 2023 388,833 1,424,451 4,722 5,371 1,823,377

9. STOCKS
2024 2023
£    £   
Food, beverages and packaging 64,848 92,314

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 375,868 37,546
Other debtors 6,116,635 5,911,092
Prepayments and accrued income 676,802 415,016
7,169,305 6,363,654

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 261,239 254,608
Trade creditors 2,066,949 1,741,931
Tax 115,716 7,765
Social security and other taxes 33,767 64,867
VAT 416,690 568,657
Other creditors 245,610 333,622
Accruals and deferred income 485,427 365,950
3,625,398 3,337,400

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 13) 1,568,973 1,816,689

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 261,239 254,608

Amounts falling due between one and two years:
Bank loans - 1-2 years 267,915 266,929

Amounts falling due between two and five years:
Bank loans - 2-5 years 845,515 824,426

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 455,543 725,334

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 800,645 885,286
Between one and five years 2,712,888 2,933,533
In more than five years 4,517,500 5,097,500
8,031,033 8,916,319

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 109,550 109,550
Other provisions 230,000 230,000
339,550 339,550

Alderforce SC Limited (Registered number: 08932017)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 April 2023 109,550 230,000
Balance at 31 March 2024 109,550 230,000

Provision for dilapidation costs are recorded on the date in which the leasehold properties are altered and the liability of repair is crystallised. Provisions are capitalised and depreciated over the period of the lease, being between one and ten years remaining.

16. CALLED UP SHARE CAPITAL

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

17. RESERVES
Retained
earnings
£   

At 1 April 2023 4,169,347
Profit for the year 533,540
At 31 March 2024 4,702,887

18. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £51,614 (2023: £57,020). Contributions totalling £12,765 (2023: £11,012) were payable to the fund at the balance sheet date and are included in creditors.

19. RELATED PARTY DISCLOSURES

Related party loans
Included within Other Debtors at the year end are loan amounts of £2,072,408 (2023: £5,912,012) due from companies under common control. The loans have arisen from inter company funding in the current and prior years. The loans are unsecured, repayable on demand and free of interest.

Included within Other Creditors at the year end are loan amounts of £274,603 (2023: £153,705) due to companies under common control. The loans have arisen from inter company funding in the current and prior years. The loans are unsecured, repayable on demand and free of interest.

Related party transactions
Included within administration charges for the year and office and retail rental charges of £220,000 (2023: £366,202) charged by companies under common control. Included within trade creditors at the year end is a balance of £164,066 (2023: £305,738) relating to the rental charges.

20. ULTIMATE CONTROLLING PARTY

The controlling party is R J Adil.