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REGISTERED NUMBER: 03795348 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 31 August 2024

for

The Clay Oven UK Limited

The Clay Oven UK Limited (Registered number: 03795348)






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




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 10


The Clay Oven UK Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: V K Khanna
Mrs V Khanna
N Khanna



SECRETARY: Mrs V Khanna



REGISTERED OFFICE: Garlands
Sandy Lane
Northwood
Middlesex
HA6 3ES



REGISTERED NUMBER: 03795348 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Anwer Patel BA (Hons) FCA,BFP



AUDITORS: Prestons
Chartered Accountants
Statutory Auditors
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

The Clay Oven UK Limited (Registered number: 03795348)

Report of the Directors
for the Year Ended 31 August 2024

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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of event catering activities

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

V K Khanna
Mrs V Khanna
N Khanna

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Prestons, will be proposed for re-appointment at the forthcoming Annual General Meeting.


The Clay Oven UK Limited (Registered number: 03795348)

Report of the Directors
for the Year Ended 31 August 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N Khanna - Director


23 May 2025

Report of the Independent Auditors to the Members of
The Clay Oven UK Limited

Opinion
We have audited the financial statements of The Clay Oven UK Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet 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 August 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 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 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.

Report of the Independent Auditors to the Members of
The Clay Oven UK Limited


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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has 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 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; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities to detect material misstatement in respect of irregularities, including fraud.

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
The Clay Oven UK Limited


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.




Anwer Patel BA (Hons) FCA,BFP (Senior Statutory Auditor)
for and on behalf of Prestons
Chartered Accountants
Statutory Auditors
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

23 May 2025

The Clay Oven UK Limited (Registered number: 03795348)

Income Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 1,667,842 1,254,116

Cost of sales 675,740 455,326
GROSS PROFIT 992,102 798,790

Administrative expenses 984,568 892,859
7,534 (94,069 )

Other operating income 413,651 400,959
OPERATING PROFIT 4 421,185 306,890

Interest receivable and similar income 281,906 280,968
703,091 587,858

Interest payable and similar expenses 216,200 209,948
PROFIT BEFORE TAXATION 486,891 377,910

Tax on profit 20,155 56,535
PROFIT FOR THE FINANCIAL
YEAR

466,736

321,375

The Clay Oven UK Limited (Registered number: 03795348)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 314,333 315,516
Investments 6 130,000 130,000
Investment property 7 7,730,813 7,730,813
8,175,146 8,176,329

CURRENT ASSETS
Stocks 37,450 39,525
Debtors 8 9,952,451 8,915,501
Cash at bank and in hand 553,445 375,307
10,543,346 9,330,333
CREDITORS
Amounts falling due within one year 9 1,652,264 1,640,527
NET CURRENT ASSETS 8,891,082 7,689,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,066,228

15,866,135

CREDITORS
Amounts falling due after more than one
year

10

(6,601,199

)

(5,867,842

)

PROVISIONS FOR LIABILITIES (1,462,193 ) (1,462,193 )
NET ASSETS 9,002,836 8,536,100

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 8,802,836 8,336,100
9,002,836 8,536,100

The Clay Oven UK Limited (Registered number: 03795348)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:





N Khanna - Director


The Clay Oven UK Limited (Registered number: 03795348)

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

1. STATUTORY INFORMATION

Company Information
The Clay Oven UK Limited, company number 03795348, is a private company limited by shares incorporated in England and Wales. The registered office is Garlands, Sandy Lane, Northwood, Middlesex, England, HA6 3ES.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net income receivable from sale of goods and services in the year, excluding value added tax.

Tangible fixed assets
Tangible fixed assets 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 costs of assets less their residual value over their estimated useful lives, using a reducing balance method, as indicated below.

Depreciation is provided on the following basis:
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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

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.


The Clay Oven UK Limited (Registered number: 03795348)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.8.24 31.8.23
£    £   
Depreciation - owned assets 45,269 51,509

The Clay Oven UK Limited (Registered number: 03795348)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 2,652,108
Additions 44,086
At 31 August 2024 2,696,194
DEPRECIATION
At 1 September 2023 2,336,592
Charge for year 45,269
At 31 August 2024 2,381,861
NET BOOK VALUE
At 31 August 2024 314,333
At 31 August 2023 315,516

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 130,000
NET BOOK VALUE
At 31 August 2024 130,000
At 31 August 2023 130,000

The investment is in a private limited company and is valued by the director at its current market value.

The Clay Oven UK Limited (Registered number: 03795348)

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

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 7,730,813
NET BOOK VALUE
At 31 August 2024 7,730,813
At 31 August 2023 7,730,813

8. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors - 1,015
Other debtors 1,290,882 546,249
1,290,882 547,264

Amounts falling due after more than one year:
Amounts owed by group undertakings 8,425,095 8,258,751
Other debtors 236,474 109,486
8,661,569 8,368,237

Aggregate amounts 9,952,451 8,915,501

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 60,000 60,000
Hire purchase contracts (see note 11) 16,549 16,549
Trade creditors 336,838 133,593
Taxation and social security 77,154 162,454
Other creditors 1,161,723 1,267,931
1,652,264 1,640,527

The Clay Oven UK Limited (Registered number: 03795348)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 6,090,000 5,850,000
Hire purchase contracts (see note 11) 1,293 17,842
Other creditors 509,906 -
6,601,199 5,867,842

The bank loans of the company are secured over the freehold property owned by the company and a debenture over the company. Interest charged on the loan is 3.29%.

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 16,549 16,549
Between one and five years 1,293 17,842
17,842 34,391

12. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related Party Disclosures' not to disclose transactions entered into between the two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

During the year the company had following balances and transactions with an entity in which one of the director is a shareholder:

2024 2023
£ £

Management fees receivable 100,000 146,500
Venue hire and cross charges 226,610

Amount due to the company (260,222 ) (23,710 )

Amount due from the company 210,000 90,000

Included in other creditors are amount owed to directors totalling £924,662 (2023: £608,980).

The Clay Oven UK Limited (Registered number: 03795348)

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

13. ULTIMATE CONTROLLING PARTY

The controlling party is The Clay Oven Group Limited.

The ultimate controlling party is V K Khanna.