Company registration number 15307869 (England and Wales)
YODA WORLDWIDE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 24 DECEMBER 2024
YODA WORLDWIDE LIMITED
COMPANY INFORMATION
Directors
Mr S Muhammad
Mr A Khan
Company number
15307869
Registered office
1st Floor, KFC,
Earls Park, Arlington Way
Battlefield Road
Shrewsbury
Shropshire
England
SY1 4AB
Auditor
Hammond McNulty LLP
Bank House
Market Square
Congleton
Cheshire
United Kingdom
CW12 1ET
YODA WORLDWIDE LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 6
Independent auditor's report
7 - 9
Profit and loss account
10
Group statement of comprehensive income
11
Group balance sheet
12
Company balance sheet
13
Group statement of changes in equity
14
Company statement of changes in equity
15
Group statement of cash flows
16
Company statement of cash flows
17
Notes to the financial statements
18 - 33
YODA WORLDWIDE LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 1 -

The directors present the strategic report for the Period ended 24 December 2024.

Review of the business

The group's principal activities during the year continued to be the same as investment in subsidiaries operating as a fastfood franchisee (KFC). Turnover was inceased within the group which was driven by core growth. Company operated with 43 Restaurants same as last year in Gastronomy. Margins are getting better as inflation is coming down. We are planning to open 5 new sites in 2025, with first one to open in May. QSR still got the pressure of NMW and NI increase as this will be having a material impact on the Margins.

Principal risks and uncertainties

The principal risks and uncertainties to which the business is susceptible are market conditions and pricing. The company has developed appropriate methods to identify, manage and mitigate these risks where it is possible to do so. Financial risk has been reduced by putting the appropriate insurance cover in place for the key men. Debt Service ratio has been improved year on year. The operation risk and the compensation policies against these activities are evaluated to discourage unnecessary or excessive risk taking. The annual incentive target setting process is closely linked to the annual financial planning process and supports the Company's overall strategic plan.

Key performance indicators

All subsidiaries gross Margins have increased YOY mainly due to the food inflation coming down compared, although NMW is still a pressure. Inflation is getting softer in 2024, and we are forecasting a better year ahead. Management understands that margins will be back to pre-covid level towards the end of next year. We have been upgrading all our restaurants to the current brand standard with respect to design and addition of equipment to accommodate more product lines. Kiosks are getting added in all the restaurants for the customer convenience.

 

The key performance indicators of subsidiaries are below:

2024
£'000
Turnover
80,835
Operating profit
3,525
Profit before tax
1,194
Equity shareholders funds
1,318
No of KFC outlets
44
EBITDA
7,572
Average number of employees
1,485
YODA WORLDWIDE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 2 -
Promoting the success of the company

As per revised UK Corporate code ('2018') that requires considering the interest of other stakeholders which will have an impact on the long-term success of the company. This S172 statement explains how directors:

 

Have engaged with employees, suppliers, customers and other have had regard to employee's interest, the need to foster the company relationships with Suppliers, customers and others and effect of that regards, including decision taken by the company during financial year.

 

We have developed a clear framework for determining the matters. Approval matrix have determined to engage management from all levels and identifying matter requiring board consideration and approval. This has been set in a manual to cover the scope across broader business.

 

We, directors, do understand the business and the evolving environment in which we operate. We do every effort to minimise the corban reduction, through managing the consumption, changing to more energy efficient equipment, adding solar energy where possible and introducing more & more electric vehicles for the filed managers and directors. Our policies do cover the impact of operations on community and the environment.

 

The directors recognise that employees are fundamental and core to our business to deliver our strategic ambitions. We have introduced the long-term incentive at different management level to keep the employees engage and share the profits as business grows. Employees do have the option to encash all the long-term incentive at different stages of their careers. We do also have an extended benefit package, including health benefit. We do maintain a reputation for high standard of business conduct through fair policies that helps to act fairly between members of the company.

 

We do recognise the importance of business relationship with suppliers, customers, government, and joint venture partners. The ability to promote these principles effectively is an important factor in the decision to enter or remain in such relationship. The business continuously assesses the priorities related to customers and those with whom we do business.

On behalf of the board

Mr A Khan
Director
25 July 2025
YODA WORLDWIDE LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the Period ended 24 December 2024.

Principal activities

The principal activity of the company and group continued to be that of KFC franchise.

Results and dividends

The results for the Period are set out on page 10.

Ordinary dividends were paid amounting to £1,252,150. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the Period and up to the date of signature of the financial statements were as follows:

Mr S Muhammad
Mr A Khan
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

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

 

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.

Energy and carbon report

The group includes Gastronomy Restaurants Limited which is a large company and therefore the energy report is included below.

2024
Energy consumption
kWh
Aggregate of energy consumption in the year
10,932,112
YODA WORLDWIDE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 4 -
2024
Emissions of CO2 equivalent
metric tonnes
Scope 1 - direct emissions
- Gas combustion
112.33
- Fuel consumed for owned transport
16.31
128.64
Scope 2 - indirect emissions
- Electricity purchased
2,108.32
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the group
731.35
Total gross emissions
2,968.31
Intensity ratio
Tonnes CO2e per employee
4.60
Quantification and reporting methodology

Gastronomy Restaurants have reported all emission sources under the Companies Act 2006 (Strategic Report and Director’s Reports) Regulations 2013 as required. Reporting of calculated emissions is in line with the GHG Protocol Corporate Accounting and Reporting Standard and emission factors from the UK Government's GHG Conversion Factors for Company Reporting 2024.

 

The boundaries of the GHG inventory are defined using the operational control approach. In general, the emissions reported are the same as those which would be reported based on a financial control boundary.

 

Emissions from purchased electricity can be calculated in two ways:

 

Market based method allows companies to reduce the calculation of carbon emissions based on the electricity contract they have purchased. By committing to purchase renewable energy, they are supporting the renewable energy transition at a national level.

Location based method does not account for procurement decisions, it looks strictly at physical emissions from electricity delivered through a grid network.

 

Gastronomy Restaurants have chosen to calculate this year’s electricity using the location-based method.

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per FTE, the recommended ratio for the sector.

YODA WORLDWIDE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 5 -
Measures taken to improve energy efficiency

Collaboration with Open Energy Market – worked closely with Open Energy Market to optimize energy procurement, ensuring the most efficient and sustainable energy supply for sites is secured.

 

Energy Consumption Analysis – by analysing energy usage patterns, areas where reductions can be made and implemented measures to minimize wastage have been identified.

 

Transition to Electric Vehicles – company vehicle fleet is now fully electric, reducing both fuel consumption and carbon emissions.

 

Operational Efficiency Improvements – focused on optimizing energy use in the facilities, including upgrading to energy-efficient lighting and equipment where applicable.

 

Objectives for FY25

 

Further Optimization with Open Energy Market – continue working with Open Energy Market to explore additional ways to reduce energy consumption and increase efficiency.

 

Integration of Renewable Energy – plan to invest in solar farms and install solar panels on the roofs of sites to increase reliance on renewable energy sources.

 

Minimizing Gas Consumption – reviewing heating systems and processes to reduce gas usage wherever possible and transition to more sustainable alternatives.

Better Energy-Rated Equipment – prioritise upgrading to equipment with higher energy efficiency ratings to further reduce overall consumption.

 

Site-Specific Energy Efficiency Initiatives – plan to implement additional energy-saving measures across sites, such as improved insulation, HVAC optimization, and smart energy management systems.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

YODA WORLDWIDE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 6 -
On behalf of the board
Mr A Khan
Director
25 July 2025
YODA WORLDWIDE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YODA WORLDWIDE LIMITED
- 7 -
Opinion

We have audited the financial statements of Yoda Worldwide Limited (the 'parent company') and its subsidiaries (the 'group') for the Period ended 24 December 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

YODA WORLDWIDE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF YODA WORLDWIDE LIMITED
- 8 -
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 their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, and employment legislation.

 

We enquired of the directors, reviewed correspondence with HMRC and reviewed legal fees for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

 

We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.

 

The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: misappropriation of sales during the cut off period, understatement of costs, potential for management override and related party transactions

 

We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.

 

We enquired of the directors about actual and potential litigation and claims.

YODA WORLDWIDE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF YODA WORLDWIDE LIMITED
- 9 -

We performed analytical procedures at the planning stage to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.

 

In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entriess and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

 

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance laws and regulations and cannot be expected to detect all fraud and non-compliance with 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.

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Marie Ann Shenton FCCA (Senior Statutory Auditor)
For and on behalf of Hammond McNulty LLP, Statutory Auditor
Chartered Certified Accountant
Bank House
Market Square
Congleton
Cheshire
CW12 1ET
United Kingdom
25 July 2025
YODA WORLDWIDE LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 10 -
Period
ended
25 December
2024
Notes
£
Turnover
3
80,835,357
Cost of sales
(53,691,052)
Gross profit
27,144,305
Administrative expenses
(23,618,648)
Operating profit
5
3,525,657
Interest payable and similar expenses
9
(2,331,974)
Profit before taxation
1,193,683
Tax on profit
10
(355,802)
Profit for the financial Period
837,881
Profit for the financial Period is attributable to:
- Owners of the parent company
(56,002)
- Non-controlling interests
893,883
837,881
YODA WORLDWIDE LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 11 -
Period
ended
25 December
2024
£
Profit for the Period
837,881
Other comprehensive income
-
Cash flow hedges gain arising in the Period
-
0
Total comprehensive income for the Period
837,881
Total comprehensive income for the Period is attributable to:
- Owners of the parent company
(56,002)
- Non-controlling interests
893,883
837,881
YODA WORLDWIDE LIMITED
GROUP BALANCE SHEET
AS AT
24 DECEMBER 2024
24 December 2024
- 12 -
2024
Notes
£
£
Fixed assets
Goodwill
12
17,812,880
Other intangible assets
12
441,665
Total intangible assets
18,254,545
Tangible assets
13
13,122,035
31,376,580
Current assets
Stocks
16
442,744
Debtors
17
5,669,924
Cash at bank and in hand
785,496
6,898,164
Creditors: amounts falling due within one year
18
(14,396,061)
Net current liabilities
(7,497,897)
Total assets less current liabilities
23,878,683
Creditors: amounts falling due after more than one year
19
(21,661,263)
Provisions for liabilities
Deferred tax liability
22
899,785
(899,785)
Net assets
1,317,635
Capital and reserves
Called up share capital
24
1,000
Share premium account
3,930,221
Profit and loss reserves
(1,747,998)
Equity attributable to owners of the parent company
2,183,223
Non-controlling interests
(865,588)
Total equity
1,317,635
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
25 July 2025
Mr A Khan
Director
Company registration number 15307869 (England and Wales)
YODA WORLDWIDE LIMITED
COMPANY BALANCE SHEET
AS AT 24 DECEMBER 2024
24 December 2024
- 13 -
2024
Notes
£
£
Fixed assets
Investments
14
3,956,000
3,956,000
Current assets
Debtors
17
1
Cash at bank and in hand
1,000
1,001
Creditors: amounts falling due within one year
18
(25,780)
Net current liabilities
(24,779)
Net assets
3,931,221
Capital and reserves
Called up share capital
24
1,000
Share premium account
3,930,221
Total equity
3,931,221

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £1,252,150.

The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
25 July 2025
Mr A Khan
Director
Company registration number 15307869 (England and Wales)
YODA WORLDWIDE LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 14 -
Share capital
Share premium account
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
Balance at 24 November 2023
-
-
-
-
-
-
Period ended 24 December 2024:
Profit and total comprehensive income
-
-
(56,002)
(56,002)
893,883
837,881
Issue of share capital
24
1,000
3,930,221
-
3,931,221
-
3,931,221
Dividends
11
-
-
(1,691,996)
(1,691,996)
-
(1,691,996)
Acquisition of subsidiary
-
-
-
-
(1,759,471)
(1,759,471)
Balance at 24 December 2024
1,000
3,930,221
(1,747,998)
2,183,223
(865,588)
1,317,635
YODA WORLDWIDE LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 15 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 24 November 2023
-
-
-
-
Period ended 24 December 2024:
Profit and total comprehensive income
-
-
1,252,150
1,252,150
Issue of share capital
24
1,000
3,930,221
-
3,931,221
Dividends
11
-
-
(1,252,150)
(1,252,150)
Balance at 24 December 2024
1,000
3,930,221
-
0
3,931,221
YODA WORLDWIDE LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 16 -
2024
Notes
£
£
Cash flows from operating activities
Cash generated from operations
28
9,956,772
Interest paid
(2,331,974)
Income taxes refunded
123,539
Net cash inflow from operating activities
7,748,337
Investing activities
Purchase of intangible assets
(41,924)
Purchase of tangible fixed assets
(1,395,961)
Acquisition of subsidiary, net cash acquired
(2,093,859)
Net cash used in investing activities
(3,531,744)
Financing activities
Proceeds from issue of shares
1,000
Proceeds from new bank loans
4,046,130
Repayment of bank loans
(5,403,786)
Payment of finance leases obligations
(392,499)
Dividends paid to equity shareholders
(1,691,996)
Net cash used in financing activities
(3,441,151)
Net increase in cash and cash equivalents
775,442
Cash and cash equivalents at beginning of Period
-
Cash and cash equivalents at end of Period
775,442
Relating to:
Cash at bank and in hand
785,496
Bank overdrafts included in creditors payable within one year
(10,054)
YODA WORLDWIDE LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 17 -
2024
Notes
£
£
Cash flows from operating activities
Cash generated from operations
29
25,780
Investing activities
Proceeds from disposal of subsidiaries
(3,956,000)
Dividends received
1,252,150
Net cash used in investing activities
(2,703,850)
Financing activities
Proceeds from issue of shares
3,931,220
Dividends paid to equity shareholders
(1,252,150)
Net cash generated from financing activities
2,679,070
Net increase in cash and cash equivalents
1,000
Cash and cash equivalents at beginning of Period
-
Cash and cash equivalents at end of Period
1,000
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 18 -
1
Accounting policies
Company information

Yoda Worldwide Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

 

The group consists of Yoda Worldwide Limited and all of its subsidiaries.

1.1
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.4
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Yoda Worldwide Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 24 December 2024. 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 intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.5
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.6
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.7
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years straight line.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.8
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 20 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
Over the franchise agreement of 10 years
1.9
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the lease period
Fixtures and fittings
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.10
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 21 -
1.11
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.12
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.13
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.14
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 22 -
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 arrangement 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 23 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.15
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.16
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.17
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.18
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
1
Accounting policies
(Continued)
- 24 -
1.19
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover
2024
£
Turnover analysed by class of business
KFC sales
80,835,357

The whole of the turnover is generated in the UK market.

4
Exceptional item
2024
£
Expenditure
Exceptional item - Admin costs (incl in Admin range)
4,487
4,487
5
Operating profit
2024
£
Operating profit for the period is stated after charging:
Depreciation of owned tangible fixed assets
2,676,713
Amortisation of intangible assets
1,369,717
Operating lease charges
2,815,155
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 25 -
6
Auditor's remuneration
2024
Fees payable to the company's auditor and associates:
£
For audit services
Audit of the financial statements of the group and company
5,000
Audit of the financial statements of the company's subsidiaries
47,297
52,297
7
Employees

The average monthly number of persons (including directors) employed by the group and company during the Period was:

Group
Company
2024
2024
Number
Number
Management
38
2
Service
1,449
-
Total
1,487
2

Their aggregate remuneration comprised:

Group
Company
2024
2024
£
£
Wages and salaries
21,408,171
-
0
Social security costs
1,464,401
-
Pension costs
621,837
-
0
23,494,409
-
0
8
Directors' remuneration
2024
£
Remuneration for qualifying services
38,422
Company pension contributions to defined contribution schemes
26,940
65,362
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 26 -
9
Interest payable and similar expenses
2024
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
2,089,203
Other finance costs:
Interest on finance leases and hire purchase contracts
242,771
Total finance costs
2,331,974
10
Taxation
2024
£
Current tax
UK corporation tax on profits for the current period
168,060
Adjustments in respect of prior periods
39,239
Total current tax
207,299
Deferred tax
Origination and reversal of timing differences
148,503
Total tax charge
355,802

The actual charge for the Period can be reconciled to the expected charge/(credit) for the Period based on the profit or loss and the standard rate of tax as follows:

2024
£
Profit before taxation
1,193,683
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00%
298,421
Tax effect of expenses that are not deductible in determining taxable profit
94,425
Adjustments in respect of prior years
39,239
Group relief
(271,484)
Amortisation on assets not qualifying for tax allowances
238,187
Effect of overseas tax rates
(42,986)
Taxation charge
355,802
11
Dividends
2024
Recognised as distributions to equity holders:
£
Interim paid
1,252,150
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 27 -
12
Intangible fixed assets
Group
Goodwill
Patents & licences
Total
£
£
£
Cost
At 24 November 2023
-
0
-
0
-
0
Additions - separately acquired
4,871,716
41,924
4,913,640
Additions - business combinations
14,183,284
577,204
14,760,488
Disposals
-
0
(49,866)
(49,866)
At 24 December 2024
19,055,000
569,262
19,624,262
Amortisation and impairment
At 24 November 2023
-
0
-
0
-
0
Amortisation charged for the Period
1,242,120
127,597
1,369,717
At 24 December 2024
1,242,120
127,597
1,369,717
Carrying amount
At 24 December 2024
17,812,880
441,665
18,254,545
The company had no intangible fixed assets at 24 December 2024.

More information on impairment movements in the Period is given in note .

13
Tangible fixed assets
Group
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 24 November 2023
-
0
-
0
-
0
Additions
539,708
856,253
1,395,961
Business combinations
1,632,278
12,771,666
14,403,944
Disposals
-
0
(364,012)
(364,012)
At 24 December 2024
2,171,986
13,263,907
15,435,893
Depreciation and impairment
At 24 November 2023
-
0
-
0
-
0
Depreciation charged in the Period
423,564
2,253,149
2,676,713
Eliminated in respect of disposals
-
0
(362,855)
(362,855)
At 24 December 2024
423,564
1,890,294
2,313,858
Carrying amount
At 24 December 2024
1,748,422
11,373,613
13,122,035
The company had no tangible fixed assets at 24 December 2024.
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 28 -
14
Fixed asset investments
Group
Company
2024
2024
Notes
£
£
Investments in subsidiaries
15
-
0
3,956,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 24 November 2023
-
Additions
3,956,000
At 24 December 2024
3,956,000
Carrying amount
At 24 December 2024
3,956,000
15
Subsidiaries

Details of the company's subsidiaries at 24 December 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Gastronomy Restaurants Limited
United Kingdom
KFC franchise
Ordinary
100.00
Gastronomy Foods UK Limited
United Kingdom
KFC franchise
Ordinary
100.00
Fry Mill Limited
United Kingdom
KFC franchise
Ordinary
100.00
What's Klukkin Limited
Isle of Man
KFC franchise
Ordinary
60.00
16
Stocks
Group
Company
2024
2024
£
£
Finished goods and goods for resale
442,744
-
0
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 29 -
17
Debtors
Group
Company
2024
2024
Amounts falling due within one year:
£
£
Unpaid share capital
1
1
Other debtors
4,275,523
-
0
Prepayments and accrued income
1,394,400
-
0
5,669,924
1
18
Creditors: amounts falling due within one year
Group
Company
2024
2024
Notes
£
£
Bank loans and overdrafts
20
1,966,545
-
0
Obligations under finance leases
21
166,499
-
0
Trade creditors
4,844,294
-
0
Amounts owed to group undertakings
(227,535)
-
0
Corporation tax payable
168,060
-
0
Other taxation and social security
3,077,166
-
Other creditors
4,303,652
25,780
Accruals and deferred income
97,380
-
0
14,396,061
25,780
19
Creditors: amounts falling due after more than one year
Group
Company
2024
2024
Notes
£
£
Bank loans and overdrafts
20
21,661,263
-
0
20
Loans and overdrafts
Group
Company
2024
2024
£
£
Bank loans
23,617,754
-
0
Bank overdrafts
10,054
-
0
23,627,808
-
Payable within one year
1,966,545
-
0
Payable after one year
21,661,263
-
0
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
20
Loans and overdrafts
(Continued)
- 30 -

The long-term loans are secured by fixed charges over the assets of the company.

The bank loan is secured by a fixed and floating charge over the assets of the group and connect companies. The interest rate on the loan is 2.9% + SONIA.

21
Finance lease obligations
Group
Company
2024
2024
£
£
Future minimum lease payments due under finance leases:
Within one year
166,499
-
0

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

22
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
2024
Group
£
Accelerated capital allowances
899,785
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the Period:
£
£
Asset at 24 November 2023
-
-
Charge to profit or loss
899,785
-
Liability at 24 December 2024
899,785
-
23
Retirement benefit schemes
2024
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
621,837
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
23
Retirement benefit schemes
(Continued)
- 31 -

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

24
Share capital
Group and company
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary shares of £1 each
1,000
1,000
25
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2024
2024
£
£
Within one year
5,794,332
-
Between two and five years
19,813,460
-
In over five years
26,967,318
-
52,575,110
-
26
Related party transactions
Transactions with related parties

During the Period the group entered into the following transactions with related parties:

Rent
Loans (Repayments)
2024
2024
£
£
Group
Other related parties
1,172,252
(3,996,159)

During the year Yoda Worldwide Limited group paid £1,172,252 in rental payments to a non-group company that Mr A Khan has significant influence over. The rental payments are all paid at market rate.

YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
26
Related party transactions
(Continued)
- 32 -

The following amounts were outstanding at the reporting end date:

Amounts due to related parties
2024
£
Group
Other related parties
3,510,746

The following amounts were outstanding at the reporting end date:

Amounts due from related parties
2024
Balance
£
Group
Other related parties
3,461,899
27
Controlling party

The ultimate controlling party is Akram Khan (director) by virtue of his shareholding.

28
Cash generated from group operations
2024
£
Profit after taxation
837,881
Adjustments for:
Taxation charged
355,802
Finance costs
2,331,974
Amortisation and impairment of intangible assets
1,369,717
Depreciation and impairment of tangible fixed assets
2,676,713
Movements in working capital:
Decrease in stocks
53,637
Decrease in debtors
1,787,664
Increase in creditors
543,384
Cash generated from operations
9,956,772
YODA WORLDWIDE LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 DECEMBER 2024
- 33 -
29
Cash generated from operations - company
2024
£
Profit after taxation
1,252,150
Adjustments for:
Investment income
(1,252,150)
Movements in working capital:
Increase in creditors
25,780
Cash generated from operations
25,780
30
Analysis of changes in net debt - group
24 November 2023
Cash flows
Other non-cash changes
24 December 2024
£
£
£
£
Cash at bank and in hand
-
785,496
-
785,496
Bank overdrafts
-
(10,054)
-
(10,054)
-
775,442
-
775,442
Borrowings excluding overdrafts
-
(23,617,754)
-
(23,617,754)
Obligations under finance leases
-
392,499
(558,998)
(166,499)
-
(22,449,813)
(558,998)
(23,008,811)
31
Analysis of changes in net funds - company
24 November 2023
Cash flows
24 December 2024
£
£
£
Cash at bank and in hand
-
1,000
1,000
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