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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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GATE GOURMET HOLDINGS U.K. LIMITED
COMPANY INFORMATION
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GATE GOURMET HOLDINGS U.K. LIMITED
CONTENTS
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GATE GOURMET HOLDINGS U.K. LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their Strategic report for the year ended 31 December 2024.
The Company is a holding company for its trading subsidiary, Gate Gourmet London Limited. In the trading subsidiary, during 2024, we successfully extended contracts with two of our three largest customers for an additional three and five years respectively. Furthermore, in early 2025, we secured a two-year contract extension with another major customer, effective from 2025. These customer contract renewals not only demonstrate confidence on our operational performance but also provides a base for us to improve and strengthen our long-term financial performance. Also, during 2024 we made further strategic investments in our premises and equipment to secure and support a major transatlantic customer who operates across three of our sites. Looking ahead, the Directors are optimistic about further growth, supported by strategic initiatives that have positioned the Company for long-term success. Principal risks and uncertainties The business and the execution of the Company's strategy are subject to a number of risks. The key uncontrollable business risks that could affect the Company include disruption to the operations of major customers as a result of factors such as weather, natural disasters, terrorist threats and labour unions. The directors mitigate any business risk identified by: - undertaking price comparison to ensure that the competitive advantage is maintained; - developing marketing strategies to promote products and target new customers; - assessing any new projects on a cost benefit basis; - keeping up to date with proposed changes to laws or regulations, with appropriate plans developed to ensure compliance where appropriate; and - maintaining awareness of external factors that could impact demand. Stakeholder engagement The report below sets out how the directors have complied with the requirements of S172 Companies Act 2006.
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GATE GOURMET HOLDINGS U.K. LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Climate change, and the ecological challenges it presents, is something we need to address in order to safeguard our planet for generations to come.
Together with the Airline Catering Association, we are working with several trade bodies to understand the effect of inflight catering on the environment and the clear opportunities where we can make an impact. We also work closely with our airline customers and partners on a range of sustainable initiatives to become more sustainable. As part of gategroup green revolution sustainability, we have undertaken analysis to review our Sustainability program and created a new framework, now focusing on People, Products and Environment. We have listened to all our stakeholders and the new framework encapsulates their objectives and allows gategroup to position itself in a more effective and dedicated way through our focus on three key dimensions: Our People: We want to offer a healthy, inclusive and safe workplace that fosters well-being and development that results in high employee attraction and retention. Our Products: We want to provide pure, healthy, and sustainable food choices through culinary innovation and supply chain collaboration. This translates into our ambitions for healthy food options, sustainable sourcing, weight reduction and environmentally conscious equipment solutions. Our Environment: We aim to minimise waste and food spillage, reduce our carbon footprint through innovation in production, product design and green technologies, taking an end-to-end approach. Employees Our people are key to our business. We want to attract and retain talent to ensure we have the required resources and skillsets to successfully implement our strategy. Our leaders are engaged in the training of our employees at all levels and act as mentors and coaches. In all our regions, employees are offered a wide range of development opportunities to train required skills and enable career progression opportunities. Consultation with employees or their representatives has continued at all levels throughout 2024, with the aim of ensuring that their views are taken into account when decisions are made that are likely to affect their interests and that all employees are aware of the financial and economic performance of their business units and of the Company as a whole. The Company regularly communicates to its employees through presentation, internal group wide emails and newsletters. There is a clear open channel of communication where employees can voice their concerns with any other colleagues at all levels within the group. Customers Customers are at the heart of our business. We work collaboratively with our customers and listen to their needs. We communicate regularly via customer meetings, emails, blogs and social media updates and share our relevant strategy and opportunities with our customers. Our commercial relationship managers are in day-to-day contact with our customers to ensure smooth delivery of our services against contractual obligation. Key issues and feedback are communicated swiftly to the directors.
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GATE GOURMET HOLDINGS U.K. LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Work with range of suppliers and have built a strong and trusted relationships with them over the years. We greatly value their services and aim to conduct business with integrity and expect the same from them.
We constantly engage with our suppliers and communicate our needs via various communication channels. Suppliers are kept updated on the future plans. We continually perform due diligence on suppliers to ensure that we work with ones who respect our values and comply with relevant legislation.
The Company follows corporate governance codes to ensure business adheres to all ethical standards. There is a clear ‘Code of Conduct’ governed by gategroup which is followed by the Company. Any future plans of the business are vetted against the ‘Code of Conduct’.
This report was approved by the board on 26 September 2025 and signed on its behalf.
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GATE GOURMET HOLDINGS U.K. LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £777k (2023 - £627k).
Dividends declared and paid in the year amounted to £Nil (2023 - £Nil).
The directors who served during the year were:
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GATE GOURMET HOLDINGS U.K. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
The Company has chosen, in accordance with section 414C of the Companies Act 2006, to set out the following information which would otherwise be required to be contained in the director's report within the Strategic report:
(a) Business review; (b) Future developments; and (c) Financial risk management objective and policies. Post balance sheet events There are no post balance sheet events that require disclosure or amendments to the financial statements.
The directors of the company assess the basis of preparation of the financial statements each year, and whether it is appropriate to prepare them on a going concern basis. To support their assessment of going concern, the directors have conducted a going concern review, considering the liquidity position of the business for a going concern assessment period of 12 months from the date of approval of the financial statements. This has involved completing cash flow forecasts for the going concern assessment period, including consideration of downside scenarios. From their assessment, the directors believe that the Company will have sufficient funds to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
After the year end, Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor, Barnes Roffe Audit Limited, was appointed by the directors under s485 Companies Act 2006.
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GATE GOURMET HOLDINGS U.K. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
This report was approved by the board on
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GATE GOURMET HOLDINGS U.K. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GATE GOURMET HOLDINGS U.K. LIMITED
We have audited the financial statements of Gate Gourmet Holdings U.K. Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity 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 Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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GATE GOURMET HOLDINGS U.K. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GATE GOURMET HOLDINGS U.K. LIMITED (CONTINUED)
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 Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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GATE GOURMET HOLDINGS U.K. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GATE GOURMET HOLDINGS U.K. LIMITED (CONTINUED)
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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows:
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GATE GOURMET HOLDINGS U.K. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GATE GOURMET HOLDINGS U.K. LIMITED (CONTINUED)
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:
∙Making enquiries of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud;
∙Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
∙Reviewing the financial statements and testing the disclosures against supporting documentation;
∙Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
∙Inspecting and testing journal entries to identify unusual or unexpected transactions;
∙Assessing whether judgement and assumptions made in determining significant accounting estimates were
indicative of management bias; and
∙Investigating the rationale behind significant transactions, or transactions that are unusual or outside the
company’s usual course of business. The areas that we identified as being susceptible to misstatement through fraud were:
∙Management bias in the estimates and judgements made;
∙Management override of controls; and
∙Posting of unusual journals or transactions.
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.
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GATE GOURMET HOLDINGS U.K. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GATE GOURMET HOLDINGS U.K. LIMITED (CONTINUED)
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.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Brook Business Centre
Cowley Mill Road
Middlesex
UB8 2FX
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GATE GOURMET HOLDINGS U.K. LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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GATE GOURMET HOLDINGS U.K. LIMITED
REGISTERED NUMBER: 02049346
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 21 form part of these financial statements.
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GATE GOURMET HOLDINGS U.K. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Gate Gourmet Holdings U.K. Limited ("the Company") is a limited liability company, incorporated in England and Wales. The address of the company’s registered office is Ash House, Littleton Road, Ashford, TW15 1TZ.
The Company's principal activity during the financial year was that of an intermediate holding company for a group providing catering and handling services to various airlines operating at major United Kingdom airports.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
Monetary amount in these financial statements are rounded to the nearest whole £000, except where otherwise indicated.
The following principal accounting policies have been applied:
The Company has taken advantage of the exemption in section 401 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. Consequently, these financial statements present the financial position and financial performance of the Company as a single entity.
FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including notification of, and no objection to, the use of exemptions by the Company's shareholders.
∙Section 7 ‘Statement of Cash Flows’ — Presentation of a Statement of Cash Flow and related notes and disclosures.
∙Section 11 ’Basic Financial Instruments’ & Section 12 ‘Other Financial Instrument Issues’ - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income.
∙Section 33 ’Related Party Disclosures’ — Compensation for key management personnel.
The financial statements of the Company are consolidated in the financial statements of gategroup Holding AG, which is incorporated in Switzerland. The consolidated financial statements of gategroup Holding AG are available on the group’s webpage.
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The directors of the company assess the basis of preparation of the financial statements each year, and whether it is appropriate to prepare them on a going concern basis. To support their assessment of going concern, the directors have conducted a going concern review, considering the liquidity position of the business for a going concern assessment period of 12 months from the date of approval of the financial statements. This has involved completing cash flow forecasts for the going concern assessment period, including consideration of downside scenarios. From their assessment, the directors believe that the Company will have sufficient funds to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Functional and presentation currency
Transactions and balances
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised, if the revision affects only that year, or in the year of the revision and future years if the revision affects both the current and future years.
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There are no other significant factors that may materially affect future tax charges.
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Profit and loss account
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GATE GOURMET HOLDINGS U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The immediate parent company is Gate Gourmet Switzerland GmbH, incorporated in Switzerland.
The directors regard the company's ultimate parent company and controlling party at 31 December 2024 to be
The smallest and largest group in which the results of the company for the year ended 31 December 2024 were consolidated was that headed by gategroup Holding AG. Copies of the group financial statements may be obtained from the group's website. The registered address of gategroup Holding AG is Sagereistrasse 20, 8152 Glattbrugg, Switzerland.
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