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Registered number: NI603526









SARCON (NO.341) LIMITED









FINANCIAL STATEMENTS

FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

 
SARCON (NO.341) LIMITED
 
 
 
CONTENTS



Page
Company Information
 
1
Directors' Report
 
2 - 4
Independent Auditors' Report
 
5 - 7
Statement of Profit or Loss and Other Comprehensive Income
 
8
Statement of Financial Position
 
9 - 10
Statement of Changes in Equity
 
11
Statement of Cash Flows
 
12
Notes to the Financial Statements
 
13 - 32
 
 

 
SARCON (NO.341) LIMITED
 
 
 
COMPANY INFORMATION


 
DIRECTORS
George Bertram 
David Anderson 
Mark Hayes 




REGISTERED NUMBER
NI603526



REGISTERED OFFICE
7 Seven Houses
Upper English Street

Armagh

BT61 7LA




INDEPENDENT AUDITORS
Crowe Ireland

40 Mespil Road

Dublin 4

D04 C2N4




BANKERS
Bank of Ireland
4-8 High Street

Belfast





First Trust Bank

33-35 University Road

Belfast

BT7 1ND




Page 1

 
SARCON (NO.341) LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

The Directors present their report and the financial statements for the 52 weeks ended 29 December 2024.

DIRECTORS' RESPONSIBILITIES STATEMENT

The Directors are responsible for preparing the Directors' Report and the financial statements, in accordance with applicable law.

Company law requires the Directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the UK.

Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing the financial statements, the Directors are required to:

select suitable accounting policies and then apply them consistently;

make judgments and estimates that are reasonable and prudent;

state whether they have been prepared in accordance with IFRS as adopted by the UK, subject to any material departures disclosed and explained in the financial statements;

assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and

use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

The Directors confirm that they have complied with the above requirements in preparing the financial statements.
 
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.

PRINCIPAL ACTIVITY

The Company is engaged in the sale and delivery of pizzas and trades as Domino's Pizzas.

Page 2

 
SARCON (NO.341) LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024
BUSINESS REVIEW

Both the level of business and the period end financial position were satisfactory.
 
At the end of the period the Company has assets of £1,369,849 (2023£1,266,371) and liabilities of £197,160 (2023:£199,470). The net assets of the Company have increased by £105,788 (2023increased by £115,021) and the Directors are satisfied with the level of retained reserves at year-end. 


FINANCIAL KEY PERFORMANCE INDICATORS

The key performance indicators during the period and at period end are as follows:
 

29/12/2024
31/12/2023
Change

£
£
%

Turnover
1,372,918
1,369,060
0
%

Gross Profit
267,522
298,277
-10
%

Net Assets
1,172,689
1,066,901
10
%


NON-FINANCIAL KEY PERFORMANCE INDICATORS

The Company considers the expansion of its customer base and client wins to be its primary non-financial key performance indicators.

RESULTS AND DIVIDENDS

The profit for the 52 weeks, after taxation, amounted to £105,788 (2023 - £115,021).

The Directors do not recommend the payment of a final dividend.

DIRECTORS

The Directors who served during the 52 weeks were:

Adrian Caldwell (resigned 10 April 2024)
Charles Caldwell (resigned 10 April 2024)
Catherine Caldwell (resigned 10 April 2024)
Mary McLaughlin (resigned 10 April 2024)
George Bertram (appointed 10 April 2024) 
David Anderson (appointed 10 April 2024) 
Mark Hayes (appointed 10 April 2024) 

PRINCIPAL RISKS AND UNCERTAINTIES

The key risks to the Company are considered to be competition from other fast food pizza outlets, retention of key employees and timely supplies of quality product. The performance of the Company is measured through the use of three key performance indicators being sales growth and profitability versus annual budgets and number of stores.

GROUP STRUCTURE

Sarcon (No.341) is a wholly owned subsidiary of Sarcon (No. 214) Limited, Sarcon (No.214) Limited is a wholly owned subsidiary of Shorecal Limited, Domino's Pizza Group PLC, a company incorporated in the United Kingdom is the ultimate parent company.

Page 3

 
SARCON (NO.341) LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024
ACCOUNTING RECORDS

The measures taken by the Directors to ensure compliance with the requirements of Sections 281 to 285 of the Companies Act 2014 with regard to the keeping of accounting records, are the employment of appropriately qualified accounting personnel and the maintenance of computerised accounting systems. The Company's accounting records are maintained at the Company's registered office at 7 Seven Houses, Upper English Street, Armagh, BT61 7LA.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

POST YEAR END EVENTS

There have been no significant events affecting the Company since the year end.

AUDITORS

The auditorsCrowe Irelandare eligible and have expressed a willingness to continue in office in accordance with section 485 of the Companies Act 2006. This report has been prepared taking advantage of the exemptions for small companies with Part 15 of the Companies Act 2006.

This report was approved by the Board and signed on its behalf.
 



George Bertram
Director

Date: 19 June 2025
Page 4

 
SARCON (NO.341) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SARCON (NO.341) LIMITED
 

OPINION


We have audited the financial statements of Sarcon (No.341) Limited for the 52 weeks ended 29 December 2024 which comprise the Statement of Profit or Loss and Other Comprehensive Incomethe Statement of Financial Positionthe Statement of Cash Flowsthe Statement of Changes in Equity and the related notes, including a summary of significant accounting policies set out on pages 14 - 17. The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom.

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 29 December 2024 and of its profit for the 52 weeks then ended;

have been properly prepared in accordance with IFRSs as adopted by the United Kingdom; and

have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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. Our evaluation of the Directors' assessment of the Company's ability to continue to adopt the going concern basis of accounting included:


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

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

OTHER INFORMATION


The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual ReportOur 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. 

Page 5

 
SARCON (NO.341) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SARCON (NO.341) LIMITED (CONTINUED)


We have nothing to report in this regard.

OPINION 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 Directors' Report for the financial 52 weeks for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report have been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of Directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.


RESPONSIBILITIES OF DIRECTORS

As explained more fully in the Directors' Responsibilities Statement on page 2, 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 Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

carrying out substantive checking to supporting documents on a sample basis of individual transactions within income and expenditure to give comfort that on a sample basis the Company does not contain any
irregular items;
Page 6

 
SARCON (NO.341) LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SARCON (NO.341) LIMITED (CONTINUED)


verifying that material balances within the Balance Sheet are supported by third party evidence to confirm the existence and valuation of these balances at the Balance Sheet date;
enquiring of management and those charged with governance;
reviewing financial statement disclosures and testing to supporting documentation to assess compliance;
and
performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the Company rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
 
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Auditors' Report.

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 an Auditors' Report 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.




 
 
George Kennington
for and on behalf of
Crowe Ireland
40 Mespil Road
Dublin 4
D04 C2N4

23 June 2025
Page 7

 
SARCON (NO.341) LIMITED
 
 
 
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024


2024
2023
Note
£
£

  

Revenue
 6 
1,372,918
1,369,060

Cost of sales
  
(1,105,396)
(1,070,783)

GROSS PROFIT
  
267,522
298,277

  

Administrative expenses
  
(123,813)
(144,510)

PROFIT FROM OPERATIONS
  
143,709
153,767

  

Finance expense
  
(609)
(1,016)

PROFIT BEFORE TAX
  
143,100
152,751

  

Tax expense
 10 
(37,312)
(37,730)

PROFIT FOR THE 52 WEEKS
  
105,788
115,021


TOTAL COMPREHENSIVE INCOME
  
105,788
115,021

The notes on pages 14 to 32 form part of these financial statements.
Page 8

 
SARCON (NO.341) LIMITED
REGISTERED NUMBER: NI603526
 
 
STATEMENT OF FINANCIAL POSITION
AS AT 29 DECEMBER 2024


29 December
31 December
2024
2023
Note
£
£


Assets

NON-CURRENT ASSETS
  

Property, plant and equipment
 11 
30,060
57,944

  
30,060
57,944

CURRENT ASSETS
  

Inventories
 13 
9,236
8,233

Trade and other receivables
 14 
1,106,647
786,406

Cash and cash equivalents
 20 
223,906
413,788

  
1,339,789
1,208,427

  

TOTAL ASSETS

  

1,369,849
1,266,371

Liabilities

NON-CURRENT LIABILITIES
  

Lease liabilities
 16 
-
17,123

Deferred tax liability
 10 
4,244
4,244

  
4,244
21,367

CURRENT LIABILITIES
  

Trade and other payables
 15 
174,693
155,612

Lease liabilities
 16 
18,223
22,491

  
192,916
178,103

  

TOTAL LIABILITIES
  
197,160
199,470

  

  

Net assets
  
1,172,689
1,066,901
Page 9

 
SARCON (NO.341) LIMITED
REGISTERED NUMBER: NI603526
 
 
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 DECEMBER 2024


29 December
31 December
2024
2023
Note
£
£


Issued capital and reserves
  

Share capital
 17 
100
100

Retained earnings
  
1,172,589
1,066,801

TOTAL EQUITY
  
1,172,689
1,066,901

The financial statements on pages 8 to 32 were approved and authorised for issue by the Board of Directors and were signed on its behalf by:




George Bertram
David Anderson
Director
Director


Date: 19 June 2025
Date:20 June 2025

The notes on pages 14 to 32 form part of these financial statements.
Page 10

 
SARCON (NO.341) LIMITED

 
 
STATEMENT OF CHANGES IN EQUITY
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024



Share capital
Retained earnings
Total equity


£
£
£

At 1 January 2024
100
1,066,801
1,066,901

Comprehensive income for the 52 weeks


Profit for the 52 weeks
-
105,788
105,788

Total comprehensive income for the 52 weeks
-
105,788
105,788

At 29 December 2024
100
1,172,589
1,172,689



Share capital
Retained earnings
Total equity


£
£
£

At 26 December 2022
100
951,780
951,880

Comprehensive income for the 53 weeks


Profit for the 53 weeks
-
115,021
115,021

Total comprehensive income for the 53 weeks
-
115,021
115,021

At 31 December 2023
100
1,066,801
1,066,901

The notes on pages 14 to 32 form part of these financial statements.
Page 11

 
SARCON (NO.341) LIMITED

 
 
STATEMENT OF CASH FLOWS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024


29 December
31 December
2024
2023
Note
£
£

CASH FLOWS FROM OPERATING ACTIVITIES
  

Profit for the 52 weeks
  
105,788
115,021

ADJUSTMENTS FOR
  

Depreciation of property, plant and equipment
 11 
31,319
31,122

Finance expense
  
609
1,016

Taxation expense
 10 
37,312
37,730

  
175,028
184,889

MOVEMENTS IN WORKING CAPITAL:
  

(Increase)/decrease in trade and other receivables
  
(320,241)
(138,581)

Decrease/(increase) in inventories
  
(1,003)
259

Increase in trade and other payables
  
19,716
6,437

CASH GENERATED FROM OPERATIONS
  
(126,500)
53,004

Corporation tax paid
  
(37,947)
(29,818)

NET CASH (USED IN)/FROM OPERATING ACTIVITIES

  
(164,447)
23,186

CASH FLOWS FROM INVESTING ACTIVITIES
  

Purchases of property, plant and equipment
  
(3,435)
(862)

NET CASH USED IN INVESTING ACTIVITIES

  
(3,435)
(862)

CASH FLOWS FROM FINANCING ACTIVITIES
  

Interest paid on leases
  
(609)
(1,016)

Payment of lease liabilities
  
(21,391)
(22,084)

NET CASH USED IN FINANCING ACTIVITIES
  
(22,000)
(23,100)

NET DECREASE IN CASH AND CASH EQUIVALENTS
  
(189,882)
(776)

Cash and cash equivalents at the beginning of 52 weeks
  
413,788
414,564

CASH AND CASH EQUIVALENTS AT THE END OF THE 52 WEEKS
 20 
223,906
413,788

The notes on pages 14 to 32 form part of these financial statements.

Page 12

 
SARCON (NO.341) LIMITED
 
 
 
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024




Page
1.
Accounting policies
14
2.
Reporting entity
17
3.
Basis of preparation
17
4.
Functional and presentation currency
18
5.
Accounting estimates and judgments
19
6.
Revenue
19
7.
Operating profit
19
8.
Employee benefits expenses
20
9.
Finance income and expense
20
10.
Tax expense
21
11.
Property, plant and equipment
23
12.
Intangible assets
25
13.
Inventories
25
14.
Trade and other receivables
26
15.
Trade and other payables
26
16.
Lease liabilities
27
17.
Share capital
27
18.
Financial instruments - fair value and risk management
28
19.
Related party transactions
31
20.
Notes supporting statement of cash flows
31
21.
Capital management
32

































Page 13

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

1.ACCOUNTING POLICIES

 
1.1

Revenue

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


(i) Sale of goods

Revenue from the sale of goods is recognised on the satisfaction of performance obligations, such as the transfer of a promised good, identified in the contract between the Company and the customer.

A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.


(ii) Rendering of services

Revenue from providing services is recognised in the accounting period in which the services are rendered.

For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.

 
1.2

Foreign currency

In preparing the financial statements of each individual group entity, transactions in currencies other than the entity's functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences on monetary items are recognised in profit or loss in the period in which they arise except for:
exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those foreign currency borrowings;
exchange differences on transactions entered into in order to hedge certain foreign currency risks (see  for hedging accounting policies); and
exchange differences on monetary items receivable from or payable to foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised initially in other comprehensive income and reclassified from equity to profit or loss on repayment of the monetary items.

For the purposes of presenting these financial statements, the assets and liabilities of the Company's foreign operations are translated into pounds using exchange rates prevailing at the end of each reporting period. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in equity (and attributed to non-controlling interests as appropriate).
Page 14

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)


1.2
Foreign currency (continued)


On the disposal of a foreign operation (i.e. a disposal of the Company's entire interest in a foreign operation, a disposal involving loss of control over a subsidiary that includes a foreign operation, or a partial disposal of an interest in a joint arrangement or an associate that includes a foreign operation of which the retained interest becomes a financial asset), all of the exchange differences accumulated in equity in respect of that operation attributable to the owners of the Company are reclassified to profit or loss.

In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences are re-attributed to non-controlling interests and are not recognised in profit or loss. For all other partial disposals (i.e. partial disposals of associates or joint arrangements that do not result in the Group losing significant influence or joint control), the proportionate share of the accumulated exchange differences is reclassified to profit or loss.

Goodwill and fair value adjustments to identifiable assets acquired and liabilities assumed through acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the rate of exchange prevailing at the end of each reporting period. Exchange differences arising are recognised in other comprehensive income.

 
1.3

Taxation

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


(i) Current tax

The tax currently payable is based on taxable profit for the 52 weeks. Taxable profit differs from ‘profit before tax’ as reported in the Statement of Profit or Loss and Other Comprehensive Income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.


(ii) Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the initial recognition of goodwill.

Deferred tax liabilities are recognised for taxable temporary differences associated with investments in subsidiaries and associates, and interests in joint ventures, except where the Company is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future.

Page 15

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)


1.3
Taxation (continued)


(ii) Deferred tax (CONTINUED)

The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.


(iii) Current and deferred tax for the 52 weeks

Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.

 
1.4

Property, plant and equipment

Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.

If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss. Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.

Depreciation is provided on all other items of property, plant and equipment so as to write off their carrying value over their expected useful economic lives. It is provided at the following rates:

Fixtures and fittings
12.5% Straight Line
Leasehold land and buildings
Over the period of the lease

 
1.5

Intangible assets


Intangible assets acquired separately

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment losses.

Franchise Fee
10% Straight Line

Page 16

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.6

Inventories

Inventories are stated at the lower of cost and net realisable value. Costs of inventories are determined on a first in, first out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale.

 
1.7

Financial instruments

Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.


2.


REPORTING ENTITY

Sarcon (No.341) Limited (the 'Company') is a limited company incorporated in the United Kingdom. The Company's registered office is at 7 Seven Houses, Upper English Street, Armagh. The Company's principal activity is the sale and delivery of pizzas. The Company's registration number is NI603526.


3.


BASIS OF PREPARATION

The financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations as adopted by the UK (collectively IFRSs). They were authorised for issue by the Company's Board of Directors on 19 June 2025.

Details of the Company's accounting policies, including changes during the 52 weeks, are included in note 1.

In preparing these financial statements, management has made judgments, estimates and assumptions that affect the application of the Company accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The areas where judgments and estimates have been made in preparing the financial statements and their effects are disclosed in note 5.


3.1 BASIS OF MEASUREMENT

The financial statements have been prepared on the historical cost basis.





Page 17

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

3.BASIS OF PREPARATION (CONTINUED)


3.2 CHANGES IN ACCOUNTING POLICIES

i) New standards, interpretations and amendments effective from 1 January 2024

Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements (issued on 25 May 2023) 
 
Amendments to IAS 1 Presentation of Financial Statements: 
• Classification of Liabilities as Current or Non-current (issued on 23 January 2020); 
• Classification of Liabilities as Current or Non-current - Deferral of Effective Date (issued on 15 July 2020); and 
• Non-current Liabilities with Covenants (issued on 31 October 2022) 
 
Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback (issued on 22 September 2022).

ii) 

New standards, interpretations and amendments not yet effective

The following standards and interpretations to published standards are not yet effective:


New standard or interpretation

EU Endorsement status

Mandatory effective date (period beginning)


Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability (issued on 15 August 2023)
12 November 2024
1 January 2025

IFRS 19 Subsidiaries without Public Accountability: Disclosures (issued on 9 May 2024)
*
1 January 2027

IFRS 18 Presentation and Disclosures in Financial Statements (issued on 9 April 2024)
*
1 January 2027

Amendments to the Classification and Measurement of Financial Instruments - Amendments to IFRS 9 and IFRS 7 (issued on 30 May 2024)
9 October 2024
1 January 2026

* Endorsement expected before effective date.
The Directors anticipate that the adoption of these Standards in future periods may have an impact on the results and net assets of the Company, however, it is too early to quantify this.

The Directors anticipate that the adoption of other Standards and interpretations that are not yet effective in future periods will only have an impact on the presentation in the financial statements of the Company.


4.


FUNCTIONAL AND PRESENTATION CURRENCY

These financial statements are presented in pounds Sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Page 18

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

5.


ACCOUNTING ESTIMATES AND JUDGMENTS

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company  makes estimates and assumptions concerning the future. The resulting accounting estimates, will by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are discussed below.


5.1 ESTIMATES AND ASSUMPTIONS

Establishing lives for depreciation purposes of property, plant and equipment

Long-lived assets, consisting primarily of property, plant and equipment, comprise a significant portion of the total assets. The annual depreciation charge depends primarily on the estimated lives of each type of assets and estimates of residual values. The group regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.


6.


REVENUE


The following is an analysis of the Company's revenue for the 52 weeks from continuing operations:


2024
2023
£
£


Sale and delivery of pizzas and other products
1,372,918
1,369,060

1,372,918
1,369,060


7.


OPERATING PROFIT

The operating profit is stated after charging:


2024
2023
£
£


Depreciation of tangible fixed assets - owned by the company
10,123
9,926

Depreciation of right to use assets
21,196
21,196

Page 19

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

8.


EMPLOYEE BENEFITS EXPENSES

2024
2023
£
£

EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS) COMPRISE:

Wages and salaries
270,915
247,800

Social security costs
13,664
11,098

Staff pension
2,957
2,363

287,536
261,261

Key management personnel compensation
 
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, including the Directors of the Company listed on page , and the Financial Controller of the Company. Directors remuneration for the period was £NIL (2023: £NIL)
 

The monthly average number of persons, including the Directors, employed by the Company during the 52 weeks was as follows:


2024
2023
No.
No.

Average number of employees
15
17


9.


FINANCE INCOME AND EXPENSE

Recognised in profit or loss


2024
2023
£
£



FINANCE EXPENSE

Other interest payable
609
1,016


NET FINANCE EXPENSE RECOGNISED IN PROFIT OR LOSS
609
1,016

Page 20

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

10.


TAX EXPENSE

10.1 INCOME TAX RECOGNISED IN PROFIT OR LOSS



2024
2023
£
£

CURRENT TAX

Current tax on profits for the 52 weeks
37,312
37,730

TOTAL CURRENT TAX
37,312
37,730



TOTAL TAX EXPENSE

Tax expense excluding tax on sale of discontinued operation and share of tax of equity accounted associates and joint ventures
37,312
37,730

37,312
37,730

The reasons for the difference between the actual tax charge for the 52 weeks and the standard rate of corporation tax in the United Kingdom applied to profits for the 52 weeks are as follows:


2024
2023
£
£


Profit for the 52 weeks
105,788
115,021

Income tax expense (including income tax on associate, joint venture and discontinued operations)
37,312
37,730

PROFIT BEFORE INCOME TAXES
143,100
152,751


Tax using the Company's domestic tax rate of 25% (2023: 23.5%)
35,775
35,896

Other differences leading to an increase/(decrease) in the tax charge
1,537
1,834

TOTAL TAX EXPENSE
37,312
37,730

Changes in tax rates and factors affecting the future tax charges

There were no factors that may affect future tax charges.

The Directors are not aware of any factors that will materially affect the rate of corporation tax in the
foreseeable future.

The rate of corporation tax increased on 1 April 2023 from 19% to 25% on profits over £250,000. The rate for small profits under £50,000 remains at 19% and there will be taper relief for businesses with profits between £50,000 and £250,000, so that their average rate is less than the main rate. The effective blended tax rate for 2023 was 23.5%.
 

Page 21

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

10.TAX EXPENSE (CONTINUED)

10.2 CURRENT TAX ASSETS AND LIABILITIES

2024
2023
£
£


CURRENT TAX LIABILITIES

Corporation tax payable
37,312
37,947

37,312
37,947

10.3 DEFERRED TAX BALANCES

The following is the analysis of deferred tax assets/(liabilities) presented in the statement of financial position:


2024
2023
£
£


Deferred tax liabilities
(4,244)
(4,244)

(4,244)
(4,244)




Opening balance
Closing balance
        £
        £
2024
Accelerated capital allowances

(4,244)

(4,244)


Page 22

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

11.


PROPERTY, PLANT AND EQUIPMENT







Fixtures and fittings
Leasehold land and buildings
Total

£
£
£



Cost or valuation





At 26 December 2022
208,210
88,588
296,798


Additions
862
-
862



At 31 December 2023
209,072
88,588
297,660


Additions
3,435
-
3,435



At 29 December 2024
212,507
88,588
301,095


Fixtures and fittings
Other property, plant and equipment
Total

£
£
£



ACCUMULATED DEPRECIATION AND IMPAIRMENT





At 26 December 2022
181,828
26,766
208,594


Charge owned for the 53 weeks
9,926
21,196
31,122



At 31 December 2023
191,754
47,962
239,716


Charge owned for the 52 weeks
10,123
21,196
31,319



At 29 December 2024
201,877
69,158
271,035



Net book value


At 26 December 2022
26,382
61,822
88,204


At 31 December 2023
17,318
40,626
57,944


At 29 December 2024
10,630
19,430
30,060

Page 23

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

11.PROPERTY, PLANT AND EQUIPMENT (CONTINUED)


11.1. Assets held under leases


The net book value of owned and leased assets included as "Property, plant and equipment" in the Statement of Financial Position is as follows:

29 December 2024
31 December 2023
£
£


Property, plant and equipment owned
10,630
18,330

Right-of-use assets, excluding investment property
19,430
39,614

30,060
57,944

Information about right-of-use assets is summarised below:

Net book value

29 December 2024
31 December 2023
£
£

Leasehold land and buildings
19,430
39,614

Depreciation charge for the 52 weeks ended

29 December 2024
31 December 2023
£
£

Leasehold land and buildings
21,196
21,196










Page 24

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

12.


INTANGIBLE ASSETS







Franchise Fee

£



COST



At 26 December 2022
46,036



At 31 December 2023
46,036



At 29 December 2024
46,036


Franchise Fee

£



ACCUMULATED AMORTISATION AND IMPAIRMENT



At 26 December 2022
46,036



At 31 December 2023
46,036


At 29 December 2024
46,036



Net book value


At 26 December 2022
-


At 31 December 2023
-


At 29 December 2024
-


13.


INVENTORIES

29 December
31 December
2024
2023
£
£



Raw materials
9,236
8,233

9,236
8,233
Page 25

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

14.


TRADE AND OTHER RECEIVABLES


29 December
31 December
2024
2023
£
£


CURRENT

Trade receivables
38,156
27,457

Receivables from related parties
1,066,494
757,065

Prepayments and accrued income
1,997
1,884

TOTAL CURRENT TRADE AND OTHER RECEIVABLES
1,106,647
786,406


15.


TRADE AND OTHER PAYABLES


29 December
31 December
2024
2023
£
£


CURRENT

Trade payables
7,034
35,557

Payables to related parties
33,034
-

Accruals
31,057
25,435

Other payables - tax and social security payments
103,568
94,620

TOTAL CURRENT TRADE AND OTHER PAYABLES
174,693
155,612

Page 26

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

16.

LEASE LIABILITIES

29 December
31 December
2024
2023
£
£

Current
18,223
22,491

Non-current
-
17,123

18,223
39,614

The outstanding lease liability is due to DP Realty Limited, a subsidiary of the ultimate parent company Domino's Pizza Group PLC. 



17.


SHARE CAPITAL

Authorised

29 December
29 December
31 December
31 December
2024
2024
2023
2023
Number
£
Number
£

SHARES TREATED AS EQUITY
Ordinary shares of £1.00 each

100

100

100
 
100
 
100

100

100
 
100
 

Issued and fully paid


29 December
29 December
31 December
31 December
2024
2024
2023
2023
Number
£
Number
£

ORDINARY SHARES OF £1.00 each

At 29 December and 31 December
100

100

100
 
100
 

Page 27

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

18.


FINANCIAL INSTRUMENTS - FAIR VALUE AND RISK MANAGEMENT

18.1 ACCOUNTING CLASSIFICATIONS AND FAIR VALUES

The following table shows the carrying amounts and fair values of financial assets and financial liabilities. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.


Carrying amount
29 December 2024
Note
Amortised cost
Total


        £
        £

FINANCIAL ASSETS NOT MEASURED AT FAIR VALUE


  




Trade and other receivables

 14 

1,104,650

1,104,650

Cash and cash equivalents

 20 

223,906

223,906

FINANCIAL LIABILITIES NOT MEASURED AT FAIR VALUE


  




Trade and other payables

 15 

(40,068)

(40,068)



Carrying amount
31 December 2023
Note
Amortised cost
Total


        £
        £

FINANCIAL ASSETS NOT MEASURED AT FAIR VALUE


  




Trade and other receivables

 14 

784,522

784,522

Cash and cash equivalents

 20 

413,788

413,788

FINANCIAL LIABILITIES NOT MEASURED AT FAIR VALUE


  




Trade and other payables

 15 

(35,557)

(35,557)


Prepayments, accrued income, accruals and other taxes and social security payables are not financial assets
or liabilities and are therefore excluded from the analysis above.


18.2 FINANCIAL RISK MANAGEMENT OBJECTIVES

The Company’s financial risk management objectives consist of identifying and monitoring risks which might have an adverse impact on the value of its financial assets and liabilities, reported profitability or cash flows. 

The main risks are foreign currency risk, interest rate risk, liquidity risk and credit risk.  The Company's objective in relation to interest rate management is to minimise the impact of interest rate volatility on interest costs in order to protect recorded profitability. The exposure to interest rate fluctuations is not of significant magnitude to warrant the use of derivative financial instruments, In terms of liquidity and cash flow risk, the Company's policy is to ensure that sufficient resources are available either from cash balances, cash flows and near cash liquid investments to ensure all obligations can be met when they fall due. To achieve this the Company ensures that its liquid investments are in highly rated counterparties and the Company limits the maturity of cash balances and borrows the majority of its debt needs under term finance.

Page 28

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

18.FINANCIAL INSTRUMENTS - FAIR VALUE AND RISK MANAGEMENT (CONTINUED)


18.3 MARKET RISK

Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates will affect the Company’s income or the value of its holding of financial instruments.
The Company is engaged in the sale and delivery of pizzas on a cash sales basis. The Company does not engage in speculative transactions nor do the Company hold or issue financial instruments for trading purposes.


18.4 CREDIT RISK MANAGEMENT

Credit risk refers to the risk of financial loss to the Company if a counterparty defaults on its contractual obligations on financial assets held in the Company Balance Sheet. Due to the nature of the pizza delivery business there is minimal credit risk as credit is not extended to customers therefore the Company consider the Company's Credit Risk to be low.
The Company manages its exposure to credit risk by placing all cash with Bank of Ireland and Allied Irish Banks, both recognised financial institutions. The S&P credit ratings of Bank of Ireland and Allied Irish Banks Plc is BBB- as of 29 December 2024 (2023: BBB-) The maximum exposure to credit risk at the reporting date is £Nil (2023: £Nil)



18.5 LIQUIDITY RISK MANAGEMENT

Liquidity and interest risk tables

The following tables detail the Company's remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The tables include both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curves at the end of the reporting period. The contractual maturity is based on the earliest date on which the Company may be required to pay.

Carrying amount
Contractual cashflows Total
<1 year
1 - 5 years
More than 5 years
        £
        £
        £
        £
        £
29 DECEMBER 2024







Trade and other payables

40,068

40,068

40,068

-

-

Lease liabilities

18,223

18,425

18,425

-

-



58,291
58,493
58,493
-
-

Page 29

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

18.FINANCIAL INSTRUMENTS - FAIR VALUE AND RISK MANAGEMENT (CONTINUED)


18.5 LIQUIDITY RISK MANAGEMENT (CONTINUED)

Carrying amount
Contractual cashflows Total
<1 year
1 - 5 years
More than 5 years
        £
        £
        £
        £
        £
31 DECEMBER 2023







Trade and other payables

35,557

35,557

35,557

-

-

Lease liabilities

39,614

40,425

23,100

17,325

-



75,171
75,982
58,657
17,325
-

18.6 FAIR VALUE MEASUREMENTS

This note provides information about how the Company determines fair values of various financial assets and liabilities.

Fair value of financial assets and liabilities that are not measured at fair value (but fair value disclosures are required)

The Directors consider that the carrying amounts of financial assets and financial liabilities recognised in the financial statements approximates their fair values.





Page 30

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

19.


RELATED PARTY TRANSACTIONS

29 December
31 December
2024
2023
£
£

Amounts owed at the Balance Sheet date


Sarcon (No 214) Limited
1,066,494
757,065

DP Pizza Limited
(23,302)
-

Domino's Pizza UK & Ireland Limited
(9,732)
-

1,033,460
757,065

During the year the Company purchased €596,461 (2023:€NIL) from group undertakings.
The Company is a subsidiary of Karshan Limited. Karshan Limited is a wholly owned subsidiary of Shorecal Limited. Domino's Pizza Group PLC, a company incorporated in the United Kingdom is the ultimate parent company.
The above companies are either subsidiaries of or associated companies of the ultimate parent company Domino's Pizza Group PLC. 


20.

NOTES SUPPORTING STATEMENT OF CASH FLOWS

29 December
31 December
2024
2023
£
£


Cash at bank available on demand
223,906
413,788

CASH AND CASH EQUIVALENTS IN THE STATEMENT OF FINANCIAL POSITION

223,906
413,788


CASH AND CASH EQUIVALENTS IN THE STATEMENT OF CASH FLOWS
223,906
413,788

Page 31

 
SARCON (NO.341) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 29 DECEMBER 2024

21.


CAPITAL MANAGEMENT

The Company's capital management objectives are: 
- to ensure the Company's ability to continue as a going concern, and
- to provide returns for shareholders and benefits for other stakeholders.
The Company monitors capital on the basis of the carrying amount of equity plus its subordinated loan, less cash and cash equivalents as presented in the financial position.
Management assesses the Company's capital requirements in order to maintain an efficient overall financing structure while avoiding excessive leverage. This takes into account the subordination levels of the Company's various classes of debt. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders.
During the 52 weeks ended 29 December 2024 the Company did not pay a dividend (2023: £NIL).

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