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REGISTERED NUMBER: 10663299 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 August 2024

for

The Clay Oven Group Limited

The Clay Oven Group Limited (Registered number: 10663299)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


The Clay Oven Group Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: V K Khanna
Mrs V Khanna
N Khanna





REGISTERED OFFICE: Garlands
Sandy Lane
Northwood
Middlesex
HA6 3ER





REGISTERED NUMBER: 10663299 (England and Wales)





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

The Clay Oven Group Limited (Registered number: 10663299)

Group Strategic Report
for the Year Ended 31 August 2024

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

REVIEW OF BUSINESS
The principal activity of the group in the year under review was that of event catering and hotelier.

Key Financial Performance Indicators

The group key financial and other performance indicators during the year were as follows:

2024 2023
Turnover (continuing operations) 6,024,889 5,751,827
Operating Profit 467,048 362,928
Profit/(Loss) after Tax (290,410 ) (193,399 )
Shareholder's Equity 7,701,139 7,991,549

Non-Financial Performance Indicators

The Management of Human Resources
Directors has regular meeting with key management employees to ensure any issues relating to staff are resolved as a priority.This has helped group to have low level of staff turnover and increased efficiencies.

Customer Centric Approach
The group ensures that service provided to both corporate and private individuals is second to none with the emphasis on an amazing experience visiting the venue and the service received.

Brand Awareness
The group has been increasing its brand awareness.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors hold regular meetings with key management employees to evaluate the group's risk management process. Full due diligence is carried out on customers and suppliers to ensure compliance with relevant legislation and to have a better understanding of their needs.

The group recognises increased price competition in the market place which will continue to put pressure on its margins.The group is overcoming this risk by growing in niche sectors with higher margins.

ON BEHALF OF THE BOARD:





N Khanna - Director


23 May 2025

The Clay Oven Group Limited (Registered number: 10663299)

Report of the Directors
for the Year Ended 31 August 2024

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

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

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

FINANCIAL MANAGEMENT
Liquidity risk
The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk
The group is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on bank overdrafts and loans.

Credit risk
Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts when necessary.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Clay Oven Group Limited (Registered number: 10663299)

Report of the Directors
for the Year Ended 31 August 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he 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 group's auditors are aware of that information.

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

ON BEHALF OF THE BOARD:





N Khanna - Director


23 May 2025

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

Opinion
We have audited the financial statements of The Clay Oven Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 August 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
The Clay Oven Group 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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 Group 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 Group Limited (Registered number: 10663299)

Consolidated Income Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 6,024,889 5,751,827

Cost of sales 2,828,540 2,531,747
GROSS PROFIT 3,196,349 3,220,080

Administrative expenses 3,330,406 3,258,111
(134,057 ) (38,031 )

Other operating income 601,105 400,959
OPERATING PROFIT 4 467,048 362,928

Interest receivable and similar income 6,906 5,968
473,954 368,896

Interest payable and similar expenses 5 736,846 329,024
(LOSS)/PROFIT BEFORE TAXATION (262,892 ) 39,872

Tax on (loss)/profit 6 27,518 233,271
LOSS FOR THE FINANCIAL YEAR (290,410 ) (193,399 )
Loss attributable to:
Owners of the parent (290,410 ) (193,399 )

The Clay Oven Group Limited (Registered number: 10663299)

Consolidated Other Comprehensive Income
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

LOSS FOR THE YEAR (290,410 ) (193,399 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

(290,410

)

(193,399

)

Total comprehensive income attributable to:
Owners of the parent (290,410 ) (193,399 )

The Clay Oven Group Limited (Registered number: 10663299)

Consolidated Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 11,445,835 12,063,837
Investments 9 130,000 130,000
Investment property 10 7,730,813 7,730,813
19,306,648 19,924,650

CURRENT ASSETS
Stocks 11 68,706 70,841
Debtors 12 2,888,002 2,081,984
Cash at bank and in hand 2,468,083 2,433,522
5,424,791 4,586,347
CREDITORS
Amounts falling due within one year 13 2,698,143 2,706,115
NET CURRENT ASSETS 2,726,648 1,880,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,033,296

21,804,882

CREDITORS
Amounts falling due after more than one
year

14

(12,404,530

)

(11,863,757

)

PROVISIONS FOR LIABILITIES 17 (1,927,627 ) (1,949,576 )
NET ASSETS 7,701,139 7,991,549

CAPITAL AND RESERVES
Called up share capital 18 200,100 200,100
Retained earnings 19 7,501,039 7,791,449
SHAREHOLDERS' FUNDS 7,701,139 7,991,549

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 Group Limited (Registered number: 10663299)

Company Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 8 - -
Investments 9 200,100 200,100
Investment property 10 - -
200,100 200,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,100

200,100

CAPITAL AND RESERVES
Called up share capital 18 200,100 200,100
SHAREHOLDERS' FUNDS 200,100 200,100

Company's profit for the financial year - -

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 Group Limited (Registered number: 10663299)

Consolidated Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 200,100 7,984,848 8,184,948

Changes in equity
Total comprehensive income - (193,399 ) (193,399 )
Balance at 31 August 2023 200,100 7,791,449 7,991,549

Changes in equity
Total comprehensive income - (290,410 ) (290,410 )
Balance at 31 August 2024 200,100 7,501,039 7,701,139

The Clay Oven Group Limited (Registered number: 10663299)

Company Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 200,100 - 200,100

Changes in equity
Balance at 31 August 2023 200,100 - 200,100

Changes in equity
Balance at 31 August 2024 200,100 - 200,100

The Clay Oven Group Limited (Registered number: 10663299)

Consolidated Cash Flow Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 847,846 1,183,148
Interest paid (734,143 ) (326,997 )
Interest element of hire purchase
payments paid

(2,703

)

(2,027

)
Tax paid (98,083 ) (85,976 )
Net cash from operating activities 12,917 768,148

Cash flows from investing activities
Purchase of tangible fixed assets (332,953 ) (1,143,414 )
Purchase of investment property - (590,813 )
Sale of tangible fixed assets 1,139 -
Interest received 6,906 5,968
Net cash from investing activities (324,908 ) (1,728,259 )

Cash flows from financing activities
New loans in year 809,907 1,571,332
Loan repayments in year (237,300 ) -
Capital repayments in year (31,833 ) (30,151 )
Amount introduced by directors - 706,428
Amount withdrawn by directors (194,222 ) (726,825 )
Net cash from financing activities 346,552 1,520,784

Increase in cash and cash equivalents 34,561 560,673
Cash and cash equivalents at
beginning of year

2

2,433,522

1,872,849

Cash and cash equivalents at end of
year

2

2,468,083

2,433,522

The Clay Oven Group Limited (Registered number: 10663299)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 August 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED
FROM OPERATIONS

31.8.24 31.8.23
£    £   
(Loss)/profit before taxation (262,892 ) 39,872
Depreciation charges 950,954 868,634
Profit on disposal of fixed assets (1,139 ) -
Government grants - 3,124
Finance costs 736,846 329,024
Finance income (6,906 ) (5,968 )
1,416,863 1,234,686
Decrease/(increase) in stocks 2,135 (15,586 )
(Increase)/decrease in trade and other debtors (738,704 ) 255,919
Increase/(decrease) in trade and other creditors 167,552 (291,871 )
Cash generated from operations 847,846 1,183,148

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 August 2024
31/8/24 1/9/23
£    £   
Cash and cash equivalents 2,468,083 2,433,522
Year ended 31 August 2023
31/8/23 1/9/22
£    £   
Cash and cash equivalents 2,433,522 1,872,849


The Clay Oven Group Limited (Registered number: 10663299)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 August 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1/9/23 Cash flow At 31/8/24
£    £    £   
Net cash
Cash at bank and in hand 2,433,522 34,561 2,468,083
2,433,522 34,561 2,468,083
Debt
Finance leases (74,861 ) 31,833 (43,028 )
Debts falling due within 1 year (60,000 ) - (60,000 )
Debts falling due after 1 year (11,805,445 ) (572,606 ) (12,378,051 )
(11,940,306 ) (540,773 ) (12,481,079 )
Total (9,506,784 ) (506,212 ) (10,012,996 )

The Clay Oven Group Limited (Registered number: 10663299)

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

1. STATUTORY INFORMATION

The Clay Oven Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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.

Basis of consolidation
The consolidated accounts are prepared in accordance with the Group’s accounting principles and include the accounts of the Parent Company and all Group companies. Group companies are consolidated from the date the Group exercises control or influence over the company.

Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

All financial statements are made upto 31st August 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All inter-group transactions, balances and unrealized gains on transactions between group companies are eliminated on consolidation.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of good is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and buildings10 years straight line
Leasehold improvements7 years straight line
Plant and equipments7 years straight line
Fixtures and fittings7 years straight line
Motor vehicles3 years straight line

Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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.

The Clay Oven Group Limited (Registered number: 10663299)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 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 and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 and assets which are held at valuation. 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

The Clay Oven Group Limited (Registered number: 10663299)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the group's balance sheet when the group becomes party to the
contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of assets
At each reporting period end date, the group reviews the carrying amounts of its tangible, intangible and other assets to determine whether there is any indication that those assets have suffered an impairment loss. If such an indication exists, the recoverable amount of asset is estimated in order to determine the extent of the impairment loss (if any).

3. EMPLOYEES AND DIRECTORS
31.8.24 31.8.23
£    £   
Wages and salaries 2,031,464 2,023,665
Social security costs 115,798 98,468
Other pension costs 26,434 24,349
2,173,696 2,146,482

The average number of employees during the year was as follows:
31.8.24 31.8.23

Operational and management 92 77

The average number of employees by undertakings that were proportionately consolidated during the year was 92 (2023 - 77 ) .

31.8.24 31.8.23
£    £   
Directors' remuneration 60,000 99,250

The Clay Oven Group Limited (Registered number: 10663299)

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

4. OPERATING PROFIT

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

31.8.24 31.8.23
£    £   
Hire of plant and machinery 18,116 21,753
Other operating leases 73,942 91,860
Depreciation - owned assets 950,955 868,634
Profit on disposal of fixed assets (1,139 ) -
Auditors' remuneration 22,147 16,028

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.8.24 31.8.23
£    £   
Bank loan interest 734,143 326,997
Hire purchase charges 2,703 2,027
736,846 329,024

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 49,467 -
Corporation tax-prior year - 56,535
Total current tax 49,467 56,535

Deferred tax (21,949 ) 176,736
Tax on (loss)/profit 27,518 233,271

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


The Clay Oven Group Limited (Registered number: 10663299)

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

8. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Long to
property leasehold property
£    £    £   
COST
At 1 September 2023 10,405,486 19,639 489,028
Additions - - 29,583
At 31 August 2024 10,405,486 19,639 518,611
DEPRECIATION
At 1 September 2023 936,494 14,261 377,181
Charge for year 208,110 2,806 911
At 31 August 2024 1,144,604 17,067 378,092
NET BOOK VALUE
At 31 August 2024 9,260,882 2,572 140,519
At 31 August 2023 9,468,992 5,378 111,847

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 275,860 6,692,257 229,954 18,112,224
Additions - 303,370 - 332,953
At 31 August 2024 275,860 6,995,627 229,954 18,445,177
DEPRECIATION
At 1 September 2023 263,724 4,270,451 186,276 6,048,387
Charge for year 340 727,868 10,920 950,955
At 31 August 2024 264,064 4,998,319 197,196 6,999,342
NET BOOK VALUE
At 31 August 2024 11,796 1,997,308 32,758 11,445,835
At 31 August 2023 12,136 2,421,806 43,678 12,063,837

The Clay Oven Group Limited (Registered number: 10663299)

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

9. FIXED ASSET INVESTMENTS

Group
Unlisted
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
Company
Unlisted
investments
£   
COST
At 1 September 2023
and 31 August 2024 200,100
NET BOOK VALUE
At 31 August 2024 200,100
At 31 August 2023 200,100

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

Subsidiaries

THE CLAY OVEN UK LIMITED
Registered office: Garlands, Sandy Lane, Northwood, Middlesex, England, HA6 3ES
Nature of business: Event catering activities
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves 9,002,836 8,536,100
Profit for the year 466,736 321,375

The Clay Oven Group Limited (Registered number: 10663299)

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

9. FIXED ASSET INVESTMENTS - continued

DENHAM GROVE HOTEL LIMITED
Registered office: Garlands, Sandy Lane, Northwood, Middlesex, United Kingdom, HA6 3ER
Nature of business: Hotels and similar accommodation
%
Class of shares: holding
Ordinary 100.00
31.8.24 31.8.23
£    £   
Aggregate capital and reserves (1,301,697 ) (544,551 )
Loss for the year (757,146 ) (514,774 )


10. INVESTMENT PROPERTY

Group
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

11. STOCKS

Group
31.8.24 31.8.23
£    £   
Stocks 68,706 70,841

12. DEBTORS

Group
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 50,553 187,498
Other debtors 1,587,186 807,802
Directors' current accounts 133,263 65,949
Prepayments 80,426 111,149
1,851,428 1,172,398

The Clay Oven Group Limited (Registered number: 10663299)

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

12. DEBTORS - continued

Group
31.8.24 31.8.23
£    £   
Amounts falling due after more than one year:
Sundry debtors 1,036,574 909,586

Aggregate amounts 2,888,002 2,081,984

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 15) 60,000 60,000
Hire purchase contracts (see note 16) 16,549 16,549
Trade creditors 577,902 372,885
Tax 23,359 71,975
Social security and other taxes 29,796 77,362
VAT 195,687 108,062
Other creditors 902,940 1,087,580
Directors' current accounts 548,020 674,928
Accruals and deferred income 343,890 236,774
2,698,143 2,706,115

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

Group
31.8.24 31.8.23
£    £   
Bank loans (see note 15) 11,868,145 11,805,445
Other loans (see note 15) 509,906 -
Hire purchase contracts (see note 16) 26,479 58,312
12,404,530 11,863,757

The Clay Oven Group Limited (Registered number: 10663299)

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

15. LOANS

An analysis of the maturity of loans is given below:

Group
31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Loans 60,000 60,000
Amounts falling due between two and five years:
CBIL loan 40,000 100,000
Investec Loan 6,050,000 5,750,000
Other loans - 2-5 years 509,906 -
6,599,906 5,850,000
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 5,778,145 5,955,445

Loan amounts falling due between two and five years:
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%.

Loan amounts falling due in more than five years:
In April 2023, the company refinanced the existing loan with National Westminster Bank Plc by two new facilities as follows:

- A first facility of £4,940,000 is due for repayment by the 5th anniversary following first drawdown. Interest is payable at the Bank of England base rate + 2.14%.

- A second facility of £1,060,000 with quarterly capital and interest repayment with a final instalment due on 5th anniversary following the first drawdown Interest is payable at the Bank of England base rate + 2.14%.

Both loans are secured with a first legal charge over the assets of the company.

The Clay Oven Group Limited (Registered number: 10663299)

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

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.8.24 31.8.23
£    £   
Gross obligations repayable:
Within one year 16,549 16,549
Between one and five years 1,293 17,842
17,842 34,391

Finance charges repayable:
Between one and five years (25,186 ) (40,470 )

Net obligations repayable:
Within one year 16,549 16,549
Between one and five years 26,479 58,312
43,028 74,861

17. PROVISIONS FOR LIABILITIES

Group
31.8.24 31.8.23
£    £   
Deferred tax
Other timing differences 1,462,193 1,462,193
Deferred tax 465,434 487,383
1,927,627 1,949,576

Group
Deferred
tax
£   
Balance at 1 September 2023 1,949,576
Credit to Income Statement during year (21,949 )
Balance at 31 August 2024 1,927,627

The Clay Oven Group Limited (Registered number: 10663299)

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

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
200,100 Ordinary 1 200,100 200,100

19. RESERVES

Group
Retained
earnings
£   

At 1 September 2023 7,791,449
Deficit for the year (290,410 )
At 31 August 2024 7,501,039

Company
Retained
earnings
£   

Profit for the year -
At 31 August 2024 -


20. RELATED PARTY DISCLOSURES

As at the year end, the group gave a loan of £800,000 (2023: £800,000) to a company under common control. The loan is interest free and is repayable by March 2032.

The group 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.