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REGISTERED NUMBER: 10742609 (England and Wales)


























Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31 March 2024

for

Taco - Time (SC) Limited

Taco - Time (SC) Limited (Registered number: 10742609)






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

Notes to the Financial Statements 11


Taco - Time (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: 10742609 (England and Wales)





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

Taco - Time (SC) Limited (Registered number: 10742609)

Strategic Report
for the Year Ended 31 March 2024

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

The Director aims to present a balanced and comprehensive review of the development and performance of the business during the year and its 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 Taco - Bell franchisee.

The Director is pleased to report an increase in turnover of 8.9%. This has largely been facilitated through new store openings as well as price increases.

The gross profit of the company has increased to £4,010,896 from £3,201,510 achieved last year. The gross profit percentages have increased from 28.4% to 32.7%.

Increased turnover has resulted in an increase in profit before tax to £339,216 (2023: £236,998).

Net assets at the balance sheet date amounted to £2,019,041 (2023: £1,796,496).

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 Taco - Bell has continued to evolve its menu and set appropriate recommended prices.

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

The director has considered the effect of the continued uncertainty around Brexit and the conclude they expect the most significant risk to be the availability of staff the effects on the supply chain. The company seeks to retain and attract staff through improvements in working conditions and rates of salary. The supply chain is primarily controlled by the franchisor, Taco - Bell and the Director continues to liaise with them on a regular basis to assess and understand and potential risks to the company.

Financial key performance indicators

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

Turnover: £12,266,024 (2023: £11,265,195)
Gross profit: £4,010,896 (2023: £3,201,510)
EBITDA: £573,394 (2023: £572,252)

Other key performance indicators

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

ON BEHALF OF THE BOARD:





R J Adil - Director


24 March 2025

Taco - Time (SC) Limited (Registered number: 10742609)

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.

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

The profit for the year, after taxation, amounted to £222,545 (2023: £198,305).

Dividends paid in the year to the Holding Company are £nil (2023: £nil). The director has not recommended any further dividends to be paid in respect of the current year's financial results.

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 Taco Bell 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.

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.

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.

Taco - Time (SC) Limited (Registered number: 10742609)

Report of the Director
for the Year Ended 31 March 2024


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


24 March 2025

Report of the Independent Auditors to the Members of
Taco - Time (SC) Limited

Opinion
We have audited the financial statements of Taco - Time (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 and 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
Taco - Time (SC) Limited


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, 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

24 March 2025

Taco - Time (SC) Limited (Registered number: 10742609)

Income Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 12,266,024 11,265,195

Cost of sales 8,255,128 8,063,685
GROSS PROFIT 4,010,896 3,201,510

Administrative expenses 3,736,315 2,930,050
274,581 271,460

Other operating income 38,974 8,339
OPERATING PROFIT 4 313,555 279,799

Interest receivable and similar income 29,212 -
342,767 279,799

Interest payable and similar expenses 5 3,551 42,801
PROFIT BEFORE TAXATION 339,216 236,998

Tax on profit 6 116,671 38,693
PROFIT FOR THE FINANCIAL YEAR 222,545 198,305

Taco - Time (SC) Limited (Registered number: 10742609)

Other Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 222,545 198,305


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

222,545

198,305

Taco - Time (SC) Limited (Registered number: 10742609)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 97,227 112,804
Tangible assets 8 1,088,970 1,375,986
1,186,197 1,488,790

CURRENT ASSETS
Stocks 9 87,099 113,792
Debtors 10 1,557,262 1,889,217
Cash at bank and in hand 3,323,212 2,624,875
4,967,573 4,627,884
CREDITORS
Amounts falling due within one year 11 4,019,457 4,204,906
NET CURRENT ASSETS 948,116 422,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,134,313

1,911,768

PROVISIONS FOR LIABILITIES 13 115,272 115,272
NET ASSETS 2,019,041 1,796,496

CAPITAL AND RESERVES
Called up share capital 14 1 1
Retained earnings 15 2,019,040 1,796,495
SHAREHOLDERS' FUNDS 2,019,041 1,796,496

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





R J Adil - Director


Taco - Time (SC) Limited (Registered number: 10742609)

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 1 1,598,190 1,598,191

Changes in equity
Total comprehensive income - 198,305 198,305
Balance at 31 March 2023 1 1,796,495 1,796,496

Changes in equity
Total comprehensive income - 222,545 222,545
Balance at 31 March 2024 1 2,019,040 2,019,041

Taco - Time (SC) Limited (Registered number: 10742609)

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

1. STATUTORY INFORMATION

Taco - Time (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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
The sale of food, beverages and merchandise is recognised at the point of sale.

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.

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 - Over the term of the lease - 10-20 years
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Taco - Time (SC) Limited (Registered number: 10742609)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

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.

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.

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 profit or loss 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.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Taco - Time (SC) Limited (Registered number: 10742609)

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

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,231,664 3,005,012
Social security costs 148,914 70,903
Other pension costs 26,110 20,715
3,406,688 3,096,630

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

Employees 241 272

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

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 244,261 276,876
Franchise fees amortisation 15,577 15,577
Auditors' remuneration 6,520 5,500
Auditors' remuneration for non audit work 1,990 1,860

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 3,551 42,600
Other interest on overdue tax - 201
3,551 42,801

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 116,671 -

Deferred tax - 38,693
Tax on profit 116,671 38,693

Taco - Time (SC) Limited (Registered number: 10742609)

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 155,770
AMORTISATION
At 1 April 2023 42,966
Amortisation for year 15,577
At 31 March 2024 58,543
NET BOOK VALUE
At 31 March 2024 97,227
At 31 March 2023 112,804

8. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2023 125,437 2,258,879 2,384,316
Additions - 32,448 32,448
Disposals - (93,247 ) (93,247 )
At 31 March 2024 125,437 2,198,080 2,323,517
DEPRECIATION
At 1 April 2023 21,117 987,213 1,008,330
Charge for year 6,272 237,989 244,261
Eliminated on disposal - (18,044 ) (18,044 )
At 31 March 2024 27,389 1,207,158 1,234,547
NET BOOK VALUE
At 31 March 2024 98,048 990,922 1,088,970
At 31 March 2023 104,320 1,271,666 1,375,986

9. STOCKS
2024 2023
£    £   
Stocks 87,099 113,792

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 145,626 164,326
Other debtors 1,156,044 1,621,216
Prepayments and accrued income 255,592 103,675
1,557,262 1,889,217

Taco - Time (SC) Limited (Registered number: 10742609)

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

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,237,270 1,268,528
Tax 116,770 62,822
Social security and other taxes 29,578 38,451
VAT 246,884 303,910
Other creditors 1,959,781 2,302,979
Accruals and deferred income 429,174 228,216
4,019,457 4,204,906

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 429,000 429,000
Between one and five years 1,716,000 1,716,000
In more than five years 4,679,333 5,108,333
6,824,333 7,253,333

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 115,272 115,272

Deferred
tax
£   
Balance at 1 April 2023 115,272
Balance at 31 March 2024 115,272

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £0.01 1 1

15. RESERVES
Retained
earnings
£   

At 1 April 2023 1,796,495
Profit for the year 222,545
At 31 March 2024 2,019,040

16. 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 £26,110 (2023: £20,715). Contributions totalling £8,362 (2023: £7,062) were payable to the fund at the balance sheet date and are included in creditors.

Taco - Time (SC) Limited (Registered number: 10742609)

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

17. RELATED PARTY DISCLOSURES

Included within Other Debtors is a loan amount of £999,696 (2023: £1,078,080) due from a company under common control. The balance has arisen from intercompany funding in the current and previous years. The loan is unsecured, free of interest and repayable on demand.

Included within Other Creditors due in less than one year at the year end are loan amounts of £1,838,370 (2023: £2,289,811) due to companies under common control. The balances have arisen from intercompany funding in the current and previous years. The loans are unsecured, free of interest and repayable on demand.

Included within Other Debtors is a loan amount of £60,181 (2023: £60,181) due from a company in which the controlling party of Taco-Time SC Limited is a minority shareholder and an immediate family member of the controlling party. The balance has arisen from intercompany funding in the current and previous years. The loan is unsecured, free of interest and repayable on demand.

During the year the company incurred rent charges of £110,333 (2023: £80,000) from companies under common control. Included within trade creditors at the year end is a balance of £5,975 (2023: £27,665) in respect of the rent charges.

Included within trade debtors at the year end is a balance of £56,730 (2023: £56,730) in respect of the charges.

18. ULTIMATE CONTROLLING PARTY

The immediate and ultimate controlling company of Taco - Time (SC) Limited is Lionacre Holdings SC Limited.