GH Pizzas Limited Company accounts

COMPANY REGISTRATION NUMBER: 07498082

GH Pizzas Limited

Financial Statements

31 December 2024

GH Pizzas Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Strategic report	2

Director's report	6

Independent auditor's report to the members	9

Statement of income and retained earnings	13

Statement of financial position	14

Notes to the financial statements	15

GH Pizzas Limited

Officers and Professional Advisers

Director	A S Goussous

Registered office	Suite L4 & L5, Boston House
	69-75 Boston Manor Road
	Brentford
	Middlesex
	England
	TW8 9JJ

Auditor	Moore Kingston Smith LLP
	Chartered accountants & statutory auditor
	5 Godalming Business Centre
	Woolsack Way
	Godalming
	Surrey
	United Kingdom
	GU7 1XW

GH Pizzas Limited

Strategic Report

Year ended 31 December 2024

Principal activity The company's principal activity during the year was that of a Pizza Hut franchise. Business review The company operates in the UK as a franchisee of Pizza Hut, managing a portfolio of 24 pizza outlets, primarily located in London and the surrounding areas. As part of our ongoing strategic review, we are planning to consolidate our store footprint by closing four underperforming locations. These closures are targeted at improving overall profitability by eliminating persistent losses and reallocating resources to higher-performing sites. This consolidation strategy is expected to enhance operational efficiency, strengthen our financial position, and allow us to focus on growth opportunities in more profitable markets. Business performance for the year ending 31 December 2024 The key financial indicators and financial performance of the company for the current and preceding year are as follows:

	2024	2023	Variance (£)	Variance (%)
	£	£
Turnover	14,257,475	14,672,790	415,315	3
Gross Profit	2,512,765	2,723,043	210,278	8
Gross Profit Margin (%)	18	19

The pizza market in the UK remains highly competitive and margins continue to be tight. Food and labour costs are always a concern, However, labour has become a greater concern because of shortages of workers which has led to increased competition for staff. Food costs have also seen an increase with inflation impacting wholesale prices and increases in fuel costs affecting delivery prices which have had to be absorbed to stay competitive. Future developments The outlook for the pizza delivery and takeaway sector is strong, with anticipated growth in the market. There are significant opportunities for our business, and we are well placed to benefit from these market dynamics. The business has been very successful at expanding/acquiring new stores over recent years, in line with the Business's strategy. Going concern The directors have reviewed detailed cash flow and financial forecasts for the next three financial years. Throughout this review period, the company is forecast to retain positive cash reserves that will ensure it is able to meet its liabilities and allow for further investment in the growth of business activities. Therefore, having assessed the principal risks and all other relevant matters, the directors consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements of the company. Performance measurement The company uses a comprehensive matrix of operational and financial Key Performance Indicators ("KPIs") to monitor and report on performance at all levels within the business. The principal KPIs reviewed at least monthly by the directors include: - Financial KPIs: Including those related to gross and operational profit by store and general profitability and working capital management; - Client and operational KPIs: including those related to customer satisfaction, food hygiene and health visit statistics; and - People KPIs: including those related to staff numbers & trends and staff turnover rate. Principle risks and uncertainties Competition Pizza Hut is a dominant brand in the UK pizza market. However, with the expansion of the aggregators, it has allowed the entry of a larger range of players to the takeaway market. The aggregators have enabled restaurants and fast food outlets that did not have delivery facilities to enter this market, thus increasing the variety and options of food to consumers providing stronger competition. Planning marketing campaigns and allocation of funds to marketing budgets by Yum! Brands, is a critical part the franchisor has to play in addition to putting strong focus on product development, to ensure that the menu has a broad appeal and reflects consumer trends. The financial results of the company can also be adversely affected if there is a failure to compete in areas such as prices, offers, service and quality. Again, the franchisor is aware of these factors and have indicated their focus is to be a market leader in the pizza delivery and takeaway industry. The company itself is also very conscious of of maintaining high standards, especially with regard to the quality of its products and service provided. Information Technology/Data risk The company is aware of the impact on sales and the stores ability to trade in case of attacks on the IT process in the stores. This could have a serious detrimental effect on the financial performance of the company, as online sales are key to the company.Management regularly monitor the integrity and efficiency of the IT systems and processes are in place to deal with any IT incidents. Liquidity Risk Liquidity risk is the risk that the group does not have sufficient financial resources to meet its obligations when they fall due or will have to do so at excessive cost. This risk can arise from mismatches in the timing of cash flows relating to assets and liabilities. This risk is manged through detailed financial reviews regarding the acceptance of any proposed significant financial obligations to ensure that the group can continue to meet its liabilities as they fall due. Price Risk The Company is exposed to price risk through fluctuations in the cost of key inputs, including food ingredients, packaging, and utilities. These risks are mitigated through maintaining strong relationships with approved suppliers, negotiating fixed price contracts where possible, and regularly reviewing pricing strategies to protect margins. Cash Flow Risk The Company monitors cash flow closely to ensure that operational and investment needs are met. Cash flow forecasting is performed on a regular basis, and the Company benefits from the support of Goussous Holdings in managing working capital requirements and providing funding where necessary. Corporate social responsibility The company recognises and acknowledges that the conduct of its business has an impact on employees, its partners, its customers and suppliers and the economy, community and environment of its business activities.

This report was approved by the board of directors on 3 September 2025 and signed on behalf of the board by:

A S Goussous
Director

Registered office:

Suite L4 & L5, Boston House

69-75 Boston Manor Road

Brentford

Middlesex

England

TW8 9JJ

GH Pizzas Limited

Director's Report

Year ended 31 December 2024

The director presents his report and the financial statements of the company for the year ended 31 December 2024 .

Director

The director who served the company during the year was as follows:

A S Goussous

Dividends

The directors do not recommend the payment of a dividend.

Employment of disabled persons

The company is committed to fostering an inclusive workplace that values diversity and promotes equal opportunities for all individuals, including those with disabilities. The company recognises the unique talents and perspectives that disabled persons bring to the organisation. Where existing employees become disabled, it is the company policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate. Company policy is to provide: 1. Equal Opportunity: Ensure that all employment decisions are made based on merit and ability, providing fair consideration for applicants and employees with disabilities. 2. Accessibility: Strive to provide a work environment that is accessible and accommodating, including necessary adjustments to support employees in their roles. 3. Awareness and Training: Promote awareness and understanding of disability issues among all staff through regular training and resources, fostering a culture of respect and support. 4. Supportive Environment: Create a supportive atmosphere where employees with disabilities feel valued and empowered to contribute to their fullest potential. 5. Compliance: Adhere to all relevant laws and regulations regarding the employment of individuals with disabilities.

Employee involvement

The company recognises that employee involvement is essential to its success and sustainability. The company is committed to fostering a workplace where employees are informed, consulted, and engaged in operations and decision-making processes. Company policy encompasses the following key actions: 1. Systematic Information Provision: The company will regularly communicate important company matters through newsletters, meetings, and digital platforms. This ensures that employees are informed about issues that concern them, including company performance, strategic goals, and changes in policies. 2. Regular Consultation: The company is dedicated to regularly consulting with employees and their representatives on decisions that may affect their interests. This includes establishing feedback mechanisms, such as focus groups and surveys, to gather input and address concerns promptly. 3. Encouraging Involvement through Incentives: The company aims to enhance employee engagement by offering share and incentive schemes that allow employees to participate in the company's success. These programs are designed to align individual performance with company goals and reward employees for their contributions. 4. Financial Awareness: The company is committed to fostering financial literacy among our employees. This includes providing training sessions and resources that help employees understand the financial factors impacting the company's performance, enabling them to make informed contributions to its success. In the past financial year, the director has actively engaged with employees through regular feedback sessions, surveys, and open forums. This inclusive approach allowed him to understand employee concerns and interests, which directly influenced key decisions, such as resource allocation for training programs and adjustments to work policies. By prioritising employee insights, the directors fostered a collaborative workplace culture, ultimately enhancing morale and productivity, which contributed positively to the company's overall performance.

Qualifying indemnity provision

The Company has qualifying third party indemnity provision for the benefit of the directors.

Other matters

Results

The loss for the year, before taxation, amounted to £608,953.

Going concern

Having made appropriate enquiries and having reviewed the company's forecasts and projections, the directors have a reasonable expectation that the company has sufficient resources to support both its current business activities and the growth of the business into the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Director's responsibilities statement

The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 3 September 2025 and signed on behalf of the board by:

A S Goussous
Director

Registered office:

Suite L4 & L5, Boston House

69-75 Boston Manor Road

Brentford

Middlesex

England

TW8 9JJ

GH Pizzas Limited

Independent Auditor's Report to the Members of GH Pizzas Limited

Year ended 31 December 2024

Opinion

We have audited the financial statements of GH Pizzas Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's 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 strategic report or the director's 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 director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines 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 director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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. 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: - We obtained an understanding of the company's business, controls, legal and regulatory frameworks, laws and regulations and assessed the susceptibility of the company's financial statements to material misstatement from irregularities, including fraud and instances of non-compliance with laws and regulations. - Based on this understanding we designed our audit procedures to detecting irregularities, including fraud. Testing undertaken included making enquiries on the management; journal entry testing; review of bank letters and any correspondence received from regulatory bodies; reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. - We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. An auditor conducting an audit in accordance with ISAs (UK) is responsible for obtaining reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error and in our audit procedures described above. Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 auditor's 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.

Stephen Foster

(Senior Statutory Auditor)

For and on behalf of

Moore Kingston Smith LLP

Chartered accountants & statutory auditor

5 Godalming Business Centre

Woolsack Way

Godalming

Surrey

United Kingdom

GU7 1XW

3 September 2025

GH Pizzas Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

		2024	2023
Note		£	£
Turnover	4	14,257,475	14,672,790

Cost of sales	11,744,710	11,949,747
	-------------	-------------
Gross profit	2,512,765	2,723,043

Administrative expenses		3,106,603	3,194,497
Other operating income	5	56,919	46,364
		------------	------------
Operating loss	6	( 536,919)	( 425,090)

Interest payable and similar expenses	9	72,034	92,784
		------------	------------
Loss before taxation		( 608,953)	( 517,874)

Tax on loss	10	( 168,260)	( 100,142)
		---------	---------
Loss for the financial year and total comprehensive income		( 440,693)	( 417,732)
		---------	---------

Retained losses at the start of the year	( 1,113,973)	( 696,241)
	------------	------------
Retained losses at the end of the year	( 1,554,666)	( 1,113,973)
	------------	------------

All the activities of the company are from continuing operations.

GH Pizzas Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	11		2,071,955	2,213,554

Current assets

Stocks	12	114,045	110,415
Debtors	13	321,576	345,894
Cash at bank and in hand		433,002	351,815
		---------	---------
		868,623	808,124

Creditors: amounts falling due within one year	14	( 2,843,181)		( 2,765,483)
		------------		------------
Net current liabilities			( 1,974,558)	( 1,957,359)
			------------	------------
Total assets less current liabilities			97,397	256,195

Creditors: amounts falling due after more than one year	15		( 1,651,063)	( 1,200,908)

Provisions	17	–	( 168,260)
		------------	------------
Net liabilities		( 1,553,666)	( 1,112,973)
		------------	------------

Capital and reserves

Called up share capital	20	1,000	1,000
Profit and loss account		( 1,554,666)	( 1,113,973)
		------------	------------
Shareholders deficit		( 1,553,666)	( 1,112,973)
		------------	------------

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

These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

A S Goussous
Director

Company registration number: 07498082

GH Pizzas Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite L4 & L5, Boston House, 69-75 Boston Manor Road, Brentford, Middlesex, TW8 9JJ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company is financed by equity, shareholder loans and bank facilities. The company is therefore dependent upon it's bankers and shareholders for continued financial support. At the year-end the company was in a net current liability position of £1,974,558 (2023: £1,957,359), and a shareholders deficit of £1,568,945 (2023: £1,112,973). The shareholders have agreed not to call upon their loans for the next 12 months. In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this basis they have reviewed the financial and cash flow projections for the next 12 months from the date of approval of the financial statements. In addition, the directors aren't aware of any unlikely event, conditions and business risks beyond this point that may cast a significant doubt on the company's ability to continue as a going concern. On the basis of this, The directors have a reasonable expectation that the company will 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. These financial statements are prepared on the going concern basis.

Disclosure exemptions

The company satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Goussous Holdings Ltd which can be obtained from the company secretary at Suite L4 & L5, Boston House, 69-75 Boston Manor Road, Brentford, Middlesex, United Kingdom, TW8 9JJ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, which are described above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. the estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. a) Going Concern Having made appropriate enquiries and having reviewed the company's forecasts and projections, the directors are of the opinion that the company has adequate resources to continue in operational existence for the foreseeable future (at least 12 months from the date the accounts are approved and signed) and to meet its obligations and settle its liabilities as they fall due for payment. Accordingly the financial statements are prepared on the going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	Over the life of the lease
Plant and machinery	-	10% reducing balance
Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	10% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2024	2023
	£	£
Sale of goods	14,257,475	14,672,790
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2024	2023
	£	£
Rental income	48,530	46,154
Other operating income	8,389	210
	--------	--------
	56,919	46,364
	--------	--------

6. Operating loss

Operating profit or loss is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	216,861	227,712
	---------	---------

7. Auditor's remuneration

	2024	2023
	£	£
Fees payable for the audit of the financial statements	15,450	15,000
	--------	--------

8. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to:

	2024	2023
	No.	No.
Production staff	312	339
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2024	2023
	£	£
Wages and salaries	4,950,081	4,744,866
Social security costs	327,780	298,053
Other pension costs	44,452	53,575
	------------	------------
	5,322,313	5,096,494
	------------	------------

9. Interest payable and similar expenses

	2024	2023
	£	£
Interest on banks loans and overdrafts	69,632	85,571
Interest on obligations under finance leases and hire purchase contracts	2,402	7,213
	--------	--------
	72,034	92,784
	--------	--------

10. Tax on loss

Major components of tax income

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	( 168,260)	( 100,142)
	---------	---------
Tax on loss	( 168,260)	( 100,142)
	---------	---------

Reconciliation of tax income

The tax assessed on the loss on ordinary activities for the year is lower than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 23.50 %).

	2024	2023
	£	£
Loss on ordinary activities before taxation	( 608,953)	( 517,874)
	---------	---------
Loss on ordinary activities by rate of tax	( 152,238)	( 121,700)
Effect of expenses not deductible for tax purposes	1,523	3,063
Effect of capital allowances and depreciation	31,855	25,294
Effect of revenue exempt from tax	( 846)	( 98)
Unused tax losses	119,706	93,441
Effect of movement on deferred tax	(168,260)	(100,142)
	---------	---------
Tax on loss	( 168,260)	( 100,142)
	---------	---------

11. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	950,476	1,206,037	871,244	209,670	3,237,427
Additions	2,736	57,029	13,997	1,500	75,262
	---------	------------	---------	---------	------------
At 31 December 2024	953,212	1,263,066	885,241	211,170	3,312,689
	---------	------------	---------	---------	------------
Depreciation
At 1 January 2024	330,322	475,419	171,539	46,593	1,023,873
Charge for the year	45,960	83,073	71,370	16,458	216,861
	---------	------------	---------	---------	------------
At 31 December 2024	376,282	558,492	242,909	63,051	1,240,734
	---------	------------	---------	---------	------------
Carrying amount
At 31 December 2024	576,930	704,574	642,332	148,119	2,071,955
	---------	------------	---------	---------	------------
At 31 December 2023	620,154	730,618	699,705	163,077	2,213,554
	---------	------------	---------	---------	------------

12. Stocks

	2024	2023
	£	£
Raw materials and consumables	114,045	110,415
	---------	---------

13. Debtors

	2024	2023
	£	£
Trade debtors	773	773
Amounts owed by group undertakings	70,972	160,965
Prepayments and accrued income	177,613	150,637
Other debtors	72,218	33,519
	---------	---------
	321,576	345,894
	---------	---------

14. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	242,555	242,555
Trade creditors	1,250,190	1,431,134
Accruals and deferred income	363,135	284,203
Social security and other taxes	804,740	571,459
Obligations under finance leases and hire purchase contracts	35,291	84,267
Other creditors	147,270	151,865
	------------	------------
	2,843,181	2,765,483
	------------	------------

15. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	383,322	603,336
Obligations under finance leases and hire purchase contracts	48,621	48,621
Other creditors	1,219,120	548,951
	------------	------------
	1,651,063	1,200,908
	------------	------------

16. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2024	2023
	£	£
Not later than 1 year	35,291	84,267
Later than 1 year and not later than 5 years	48,621	48,621
	--------	---------
	83,912	132,888
	--------	---------

17. Provisions

	Deferred tax (note 18)
	£
At 1 January 2024	168,260
Charge against provision	( 168,260)
	---------
At 31 December 2024	–
	---------

18. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 17)	–	168,260
	----	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	229,157	529,330
Unused tax losses	( 227,331)	( 359,739)
Pension plan obligations	( 1,826)	( 1,331)
	---------	---------
	–	168,260
	---------	---------

19. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 44,452 (2023: £ 53,575 ).

20. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

1. Each share is entitled to one vote in any circumstances. 2. Each share is entitled equally to dividend payment or any other distribution. 3. Each share is entitled equally to participate in a distribution arising from a winding-up of the company.

21. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	589,830	589,830
Later than 1 year and not later than 5 years	2,284,015	2,317,435
Later than 5 years	3,462,884	4,020,909
	------------	------------
	6,336,729	6,928,174
	------------	------------

22. Related party transactions

During the year, the company paid management fees of £9,194 (2023: £20,357) to the parent, Goussous Holdings Ltd. Included in the other debtors balance at the year end is an amount owed from GH Burgers Ltd of £70,973 (2023: 160,965). Included in the non current other creditors balance at the year end is an amount owing to the parent, Goussous Holdings Ltd £977,878 (2023: £307,709). The loan is due for repayment in instalments over 7 years, is unsecured. Interest of 3.75% over base rate per annum is charged on the outstanding amount. Included in the non current other creditors balance at the year end is an amount owing to a related party of £241,242 (2023: £241,242) an individual connected by virtue of a close family member of the director. The balance is due for repayment in 5 years, is unsecured and attracts no interest. All current related party loans are repayable on demand and interest free.

23. Controlling party

Goussous Holdings Limited is the immediate parent undertaking, and the smallest and largest company to prepare consolidated accounts which consolidate GH Pizzas Limited . The consolidated accounts for Goussous Holdings Limited can be obtained from its registered office: Suite L4 & L5, Boston House, 69-75 Boston Manor Road, Brentford, Middlesex, United Kingdom, TW8 9JJ. The company's controlling party is Goussous Holdings Limited.