Wright Restaurants Ltd

Registered number

04487036

Annual Report and Financial Statements

For the Year Ended

31 December 2024

Wright Restaurants Ltd
Report and accounts
Contents




Page

Company information	1
Director's report	2
Statement of director's responsibilities	6
Strategic report	7
Independent auditor's report	9
Income statement	12
Statement of comprehensive income	13
Statement of financial position	14
Statement of changes in equity	15
Statement of cash flows	16
Notes to the financial statements	17

Wright Restaurants Ltd

Company Information

Director

Mr D R Wright

Auditors

JW Hinks LLP

19 Highfield Road

Edgbaston

Birmingham

B15 3BH

Bankers

Royal Bank of Scotland PLC

Birmingham Branch

79/83 Colmore Row

Birmingham

B3 2AP

Registered office

1 The Lower Parade

Sutton Coldfield

West Midlands

B72 1XX

Registered number

04487036

Wright Restaurants Ltd
Registered number:		04487036
Director's Report

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

Principal activities
The company's principal activity during the year continued to be that of a group of fast food restaurants

Results and dividends
The results for the year are set out on page 12. Ordinary dividends were paid amounting to £1,000,000. The director recommends payment of a final dividend amounting to £200,000.

Directors
The following persons served as directors during the year:

	Mr D R Wright

Research and development
The company does not carry out any research and development. However the franchisor, McDonald's Restaurants Limited, carries out its own research and development on behalf of all franchisees. The company makes a contribution towards this through its existing payments to the franchisor.

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

Employee involvement
The company works hard to create jobs and opportunities for all employees, regardless of gender, age, or life stage. Understanding how they feel about McDonald's is vital. The employees are fundamental to the delivery the company's plans. The health, safety and wellbeing of our employees is one of our primary considerations in the way we go about business.

Business relationships
The board of directors take into account the likely consequences of long-term decisions; build relationships with stakeholders; understand the impact of our operations on the communities within which we operate; and attribute importance to behaving as a responsible business.

Auditor
In accordance with the company's articles, a resolution proposing that JW Hinks LLP be reappointed as auditor of the company will be put at a General Meeting.

Energy and Carbon Report
In line with the government’s streamlined energy and carbon reporting requirements we are required to report our organisation’s carbon emissions for the period 1st January 2024 to 31st December 2024 against our 2023 baseline. McDonalds follow the reporting approach set out in the UK Government’s Environmental Reporting Guidance (2019 version) to ensure that reporting standards are robust and transparent.

			2024	2023
Energy consumption			kWh	kWh

Aggregate of energy consumption in the year			15,627,223	15,721,573

			2024	2023
Emissions of CO2 equivalent			metric tonnes	metric tonnes
Scope 1 - direct emissions
- Gas combustion			439.00	406.00
- Fuel consumed for owned transport			2.00	2.00
- Refrigerant leaks			143.00	-
			584.00	408.00

Scope 2 - indirect emissions
- Electricity purchased			2,979.00	3,023.00
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company			-	-
			2,979.00	3,023.00

Total gross emissions			3,563.00	3,431.00

Intensity ratio
Emissions per unit of turnover (tCO2e/£M)			32.10	30.40

The number of sites contributing to this site is 26 as it was in 2023. The greenhouse gas emissions, reportable under SECR from 1st January 2024 to 31st December 2024, were 3,563 tonnes of carbon dioxide equivalent (tCO2e). These include emissions associated with electricity, natural gas, transport consumption and refrigerant leaks. The number of sites contributing to this report has not changed from last year. Douglas Wright’s total greenhouse gas emissions increased by 3.9% compared to 2023’s figures, because purchased electricity energy consumption (kWh) has decreased by 1.6% and natural gas energy consumption (kWh) has increased by 8.1%, from 2023 to 2024. Notable factors that could have contributed to the movement in emissions are as follows: • A change in the methodology for missing data estimation will have affected the emissions associated with electricity, natural gas and purchased fuel. In FY23, extrapolation was conducted by Aligned Incentives, whereas in FY24, extrapolation was conducted by Mitie. • A change in the market-based methodology led to an increase in electricity emissions under the market-based methodology. In FY23, all electricity consumption was considered renewable, whereas in FY24, only meters where electricity is supplied by Npower are considered renewable. This has been confirmed by the Mitie Energy Team, who procure electricity for McDonald’s sites supplied by Npower. It is not known whether the other meters/sites use renewable electricity. • Improved refrigerant leak data capture from suppliers compared to the prior year, which has been confirmed by McDonald's, has led to an increase in emissions associated with refrigerants. As per SECR guidelines, Douglas Wright’s emission intensity is calculated as the ratio of annual emissions (tCO2e) to the turnover (in £’000). For FY 2024, this resulted in an emission intensity of 0.032 tCO2e per £’000, which represents a 5.5% increase compared to the previous year (0.030 tCO2e per £’000).
Boundary, Methodology and Exclusions An ‘operational control’ approach has been used to define the Greenhouse Gas emissions boundary. This approach captures emissions associated with the operation of all buildings, such as warehouses, offices and manufacturing sites, plus company-owned and leased transport. This report covers UK operations only, as required by SECR for Non-Quoted Large Companies. This information was collected and reported in line with the methodology set out in the UK Government’s Environmental Reporting Guidelines, 2019. Emissions have been calculated using the latest conversion factors provided by the UK Government. For Refrigerant emissions, GWP conversion factors have been used (High-GWP Refrigerants \| California Air Resources Board, Greenhouse Gas Inventory Guidance: Fugitive Emissions (epa.gov). There are no material omissions from the mandatory reporting scope. Regarding market-based reporting, all electricity supplied by NPower is confirmed to be covered by Renewable Energy Guarantees of Origin (REGOs). All RoadChef MSA sites and ASDA sites (up until 31 March 2024) are also covered by REGOs (confirmed by the supplier). Due to a lack of information, the remaining electricity supply is assumed to be non-renewable. Energy consumption (in kWh) for the period 1st January 2024 – 31st December 2024 have been used to calculate emissions for Douglas Wright’s FY 2024.
Energy Efficiency Initiatives Douglas Wright has continued to seek and implement energy efficiency measures within both the work processes and the use of work equipment. McDonald’s Restaurants Limited is actively participating in mandatory compliance schemes, such as the Energy Savings Opportunity Scheme, TCFD, and is considering implementing the recommendations outlined in the ESOS audit reports. The following are examples of energy efficiency initiatives that are being implemented at McDonald's Restaurants Limited and its franchisees’ restaurants after recommendations from site energy audits conducted by the Mitie Energy Optimisation Team: - Reductions to the time schedule for internal lighting, external lighting (signage, car parking lighting, etc.), Air Handling Unit (AHU) conditioning, kitchen extract system, etc. - Improvements to the Car Park lighting schedule. - Decreased temperature set points in dining and kitchen areas, e.g. overdoor heater setpoint reduced from 28 degrees Celsius to 22 degrees Celsius. - Increased temperature deadbands in dining and kitchen areas, especially to AHUs. Local control settings change from ‘Always On’ to ‘Normal. - Heating set point temperature reduction. - BMS time adjusted to sync with actual time. The following approaches to energy efficiency are being undertaken by Douglas Wright and will be expanded over the following years: - Energy efficiency reports carried out with the advice taken on board and corrective actions put into place.

Disclosure in the strategic report
The Strategic report includes a statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006.

Disclosure of information to auditors

The director confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself 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 on 29 September 2025 and signed on its behalf.



D R Wright
Director

Wright Restaurants Ltd
Statement of Director's Responsibilities

The director is responsible for preparing the report and 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 (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of 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 judgements and 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 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 him 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.

Wright Restaurants Ltd
Strategic Report

The director presents the strategic report for the year ended 31 December 2024. FAIR REVIEW OF THE BUSINESS The results for the year and the financial position are shown in the annexed financial statements. As operator of a chain of 26 limited menu quick service restaurants, I consider our key performance indicators are turnover and gross profit. The year ended 31 December 2024 has seen an increase in turnover of 6% (2023: increase of 17%), the gross profit has remained consistent this year at 41.3% (2023: 41.5%). As for many businesses we believe the trading environment that we operate in to be challenging. During July and August 2025 the company sold all of it’s restaurant businesses. PRINCIPAL RISKS AND UNCERTAINTIES The company operates in a highly competitive market. High street consumer behaviour impacts the company's turnover and the variability of commodity prices impact profitability. The company is continually assessing all risks with an aim to mitigate any future threats these may have on the business, including the increases in utility costs. With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside our control, hence we are constantly assessing our plans in line with the current environment.
SECTION 172(1) STATEMENT Section 172 of The Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would most likely promote the success of the company for the benefit of its members as a whole. In doing so a director of a company must have regard (amongst other matters) to: a. The likely consequences of any decision in the long term; b. The interests of the company's employees; c. The need to foster the company's business relationships with suppliers, customers and others; d. The impact of the company's operations on the community and the environment; e. The desirability of the company maintaining a reputations for high standards of business conduct; and f. The need to act fairly as between members of the company. The director believes he has acted in a way that he considers to be in good faith and to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1) (a-f) of the Companies Act). The success of the Company is the driving factor behind all decisions made by the Director. Decision making processes are structured to enable the Director to evaluate the merit of proposed business activities and the likely consequences of its decisions over the short, medium, and long term.
Our people are key to our success. That is why we work hard to create jobs and opportunities for all our people, regardless of gender, age, or life stage. Understanding how our people feel about McDonald's is vital. It helps us ensure that we are giving them the right support to achieve their potential and to serve our customers well. We undertake quarterly surveys and have embarked on a "Big Conversation" with all restaurant crew and managers to drive the conversation about how they feel at work. We also conduct regular "Love to Listen" surveys to check how satisfied our employees are with their jobs. Our customers are the reason for our existence, and we therefore strive to provide high quality food with superior service in a clean and welcoming environment, at a great value. Long-term commitment to supply McDonald's UK, has enabled our suppliers to grow with us and drive positive change within their own businesses. The director carefully considers the impact of the business on communities and the environments in which the company operates. We collect litter dropped in the local area around our restaurants. Recycling units are installed around our restaurants and our paper cups are sent to specialist recycling centres in the UK. In all our activities the director requires that our employees and suppliers conduct business with the highest ethical and professional standards by adhering to our Standards of Business Conduct set by McDonald's Corporation. Governance The company is committed to high standards of corporate governance. The company has a comprehensive range of policies and systems in place to ensure that the restaurants and business are well-managed, with effective oversight and control. The company has adopted the Wates Corporate Governance Principles for Large Private Companies in the UK in combination with the Governance Framework. The company is also subject to reporting to McDonalds as part of the wider McDonald's System's requirements
This report was approved by the board on 29 September 2025 and signed on its behalf.



D R Wright
Director

Wright Restaurants Ltd
Independent auditor's report
to the member of Wright Restaurants Ltd

Opinion

We have audited the financial statements of Wright Restaurants Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the 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.


Emphasis of matter - sale of restaurants post year-end
We draw attention to Note 23 to the financial statements, which describes the sale of the company's restaurant businesses post year end, with the final restaurants being sold on 25 August 2025. As the sale occurred after the reporting date and does not relate to conditions existing at the year end, it has been treated as a non-adjusting post balance sheet event. Our opinion is not modified in respect of this matter.

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 draw attention to Note 23 of the financial statements, which explains that all of the company's restaurant operations were sold post year end with the final restaurants being sold on 25 August 2025.
As a result of this transaction, we do not consider it appropriate to adopt the going concern basis of accounting in the preparation of the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 23.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of 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.

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 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, 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.

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 identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and discussed the policies and procedures regarding compliance. Specific areas considered were as follows: - Enquiring with management and others to gain an understanding of the organisation itself including operations, financial reporting and known fraud or error. - Evaluating and understanding the internal control system. - Performing analytical procedures as expected or unexpected variances in account balances or classes of transactions appear. - Testing documentation supporting account balances or classes of transactions. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected all irregularities including those leading to material misstatements in the financial statements or non-compliance with regulation, even though we have properly planned and performed our audit in accordance with auditing standards. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the f inancial 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 available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s 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 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.


Marcus Rose FCA CTA
(Senior Statutory Auditor)
for and on behalf of
JW Hinks LLP
Statutory Auditor
19 Highfield Road
Edgbaston
Birmingham
B15 3BH

29 September 2025

Wright Restaurants Ltd
Income Statement
for the year ended 31 December 2024


Notes		2024		2023
£			£

Turnover	2	111,008,094		104,730,859

Cost of sales		(65,064,105)		(61,275,295)

Gross profit		45,943,989		43,455,564

Administrative expenses		(46,858,824)		(42,834,099)

Operating (loss)/profit	3	(914,835)		621,465

Profit on sale of fixed assets		2,330		1,271,575
Interest receivable		63,943		53,014
Interest payable	8	(516,533)		(525,483)

(Loss)/profit on ordinary activities before taxation		(1,365,095)		1,420,571

Tax on (loss)/profit on ordinary activities	9	273,835		(591,438)

(Loss)/profit for the financial year		(1,091,260)		829,133

Wright Restaurants Ltd
Statement of Comprehensive Income
for the year ended 31 December 2024


Notes	2024		2023
£		£

(Loss)/profit for the financial year	(1,091,260)		829,133

Other comprehensive income

Total comprehensive income for the year	(1,091,260)		829,133

Wright Restaurants Ltd
Statement of Financial Position
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	10		5,147,951			5,492,394
Tangible assets	11		10,073,414			11,175,861
Investments	12		32,500			32,500
			15,253,865			16,700,755

Current assets
Stocks	13	633,819			606,261
Debtors	14	557,859			843,810
Cash at bank and in hand		4,459,452			7,326,592
		5,651,130			8,776,663

Creditors: amounts falling due within one year	15	(16,026,525)			(11,584,986)

Net current liabilities			(10,375,395)			(2,808,323)

Total assets less current liabilities			4,878,470			13,892,432

Creditors: amounts falling due after more than one year	16		-			(6,643,688)

Provisions for liabilities
Deferred taxation	18		(1,660,986)			(1,940,000)

Net assets			3,217,484			5,308,744

Capital and reserves
Called up share capital	20		1,000			1,000
Profit and loss account	21		3,216,484			5,307,744

Total equity			3,217,484			5,308,744




D R Wright
Director
Approved by the board on 29 September 2025

Wright Restaurants Ltd
Statement of Changes in Equity
for the year ended 31 December 2024

Share		Profit		Total
capital		and loss
account
£		£		£

At 1 January 2023	1,000		5,478,611		5,479,611

Profit for the financial year			829,133		829,133

Dividends			(1,000,000)		(1,000,000)

At 31 December 2023	1,000		5,307,744		5,308,744



At 1 January 2024	1,000		5,307,744		5,308,744

Loss for the financial year			(1,091,260)		(1,091,260)

Dividends			(1,000,000)		(1,000,000)

At 31 December 2024	1,000		3,216,484		3,217,484

Wright Restaurants Ltd
Statement of Cash Flows
for the year ended 31 December 2024

Notes	2024		2023
£		£
Operating activities
(Loss)/profit for the financial year	(1,091,260)		829,133

Adjustments for:
Profit on sale of fixed assets	(2,330)		(1,271,575)
Interest receivable	(63,943)		(53,014)
Interest payable	516,533		525,483
Tax on (loss)/profit on ordinary activities	(273,835)		591,438
Depreciation	2,264,942		2,180,704
Amortisation of goodwill	344,443		273,631
(Increase)/decrease in stocks	(27,558)		107,572
Decrease in debtors	285,951		71,287
Increase in creditors	109,350		1,746,674
	2,062,293		5,001,333

Interest received	63,943		53,014
Interest paid	(516,533)		(525,483)
Corporation tax paid	(30,237)		591,438

Cash generated by operating activities	1,579,466		5,120,302

Investing activities
Payments to acquire intangible fixed assets	-		2,641,637
Payments to acquire tangible fixed assets	(1,178,166)		-
Proceeds from sale of tangible fixed assets	18,001		-

Cash (used in)/generated by investing activities	(1,160,165)		2,641,637

Financing activities
Equity dividends paid	(1,000,000)		(1,000,000)
Repayment of loans	(2,286,441)		(1,820,790)

Cash used in financing activities	(3,286,441)		(2,820,790)

Net cash (used)/generated
Cash generated by operating activities	1,579,466		5,120,302
Cash (used in)/generated by investing activities	(1,160,165)		2,641,637
Cash used in financing activities	(3,286,441)		(2,820,790)

Net cash (used)/generated	(2,867,140)		4,941,149

Cash and cash equivalents at 1 January	7,326,592		2,385,443
Cash and cash equivalents at 31 December	4,459,452		7,326,592

Cash and cash equivalents comprise:
Cash at bank	4,459,452		7,326,592

Wright Restaurants Ltd
Notes to the Accounts
for the year ended 31 December 2024

1	Summary of significant accounting policies

	Company information
	Wright Restaurants Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 The Lower Parade, Sutton Coldfield, West Midlands, B72 1XX. The company operates from a number of outlets around the West Midlands area.

	Basis of preparation
	These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a basis other than going concern due to the sale of the company’s core restaurant operations in July and August 2025, as explained in Note 23. As a result of this disposal, the director has determined that it is no longer suitable to prepare the accounts on a going concern basis.

	Turnover
	Turnover or revenue represents the sale of food and beverages in or at the restaurants recognised at the point of sale to the customer, excluding value added tax. Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue from the sale of food and beverages is recognised when the significant risks and rewards of ownership of the goods have passed to the customer, usually on transfer of goods, the amount of revenue can be measured reliability and it is probable that the economic benefits associated with the transaction will then flow to the company.

	Intangible fixed assets
	Acquired goodwill and licence fees are valued at cost less accumulated amortisation. Amortisation is calculated to write off in equal annual instalments over the term of the franchise agreement.

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			at varying rates on cost

Office equipment

20% on cost

	Motor vehicles			25% straight line

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

	Inmpairment of fixed assets
	At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

	Stocks
	Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

	Financial instruments
	The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Other financial assets Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
	Impairment of financial assets Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

	Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Other financial liabilities Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or f inance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. Derecognition of financial liabilities Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Equity instruments
	Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Judgements and Key Sources of Estimation Uncertainty
	In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


2	Analysis of turnover					2024		2023
£							£

	Product sales					109,655,026		103,475,253
	Non product sales					1,353,068		1,255,606
						111,008,094		104,730,859

	By geographical market:

	UK					111,008,094		104,730,859


3	Operating profit					2024		2023
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					2,264,942		2,180,704
	Amortisation of goodwill					344,443		273,631
	Profit on disposal of intangible assets					-		(590,166)
	Profit on disposal of tangible assets					(2,330)		(681,409)
	Operating lease rentals					12,543,797		11,434,232
	Auditors' remuneration for audit services					13,850		10,750
	Carrying amount of stock sold					37,499,040		36,098,999


4	Auditors' remuneration					2024		2023
£							£
	Fees payable to he company's auditor and associates:

	For Audit Services
	Audit of the financial statements of the company					13,850		10,750

						13,850		10,750


5	Director's emoluments					2024		2023
£							£

	Emoluments					30,000		31,763
	Company contributions to defined contribution pension plans					5,250		5,250
						35,250		37,013


	Number of directors to whom retirement benefits accrued:					2024		2023
Number							Number

	Defined contribution plans					1		1


6	Staff costs					2024		2023
£							£

	Wages and salaries					30,519,506		27,380,093
	Social security costs					1,579,601		1,265,332
	Other pension costs					455,320		394,891
						32,554,427		29,040,316


	Average number of employees during the year					Number	Number

	Direct and administration					2,800		2,658
						2,800		2,658


7	Interest receivable and similar income					2024		2023
£							£
	Interest Income
	Interest on bank deposits					63,943		53,014

						2024		2023
	Investment income includes the following:					£	£

	Interest on financial assets not measured at fair value through profit and loss					63,943		53,014


8	Interest payable					2024		2023
£							£

	Bank loans and overdrafts					516,533		525,483


9	Taxation					2024		2023
£							£
	(Loss)/profit on ordinary activities before tax					(1,365,095)		1,420,571

	Standard rate of corporation tax in the UK					25%		25%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					(341,274)		355,143

	Effects of:
	Expenses that are not deductible for determining taxable profit					97,036		178,305
	Income not taxable in determining taxable profit					(583)		(317,894)
	Adjustments to tax charge in respect of previous periods					(24,299)		-
	Permanent capital allowances in excess of depreciation					276,168		(179,961)
	Tax at marginal rate					(1,869)		(1,155)
	Deferred tax movements					(279,014)		557,000

	Current tax charge for period					(273,835)		591,438



10	Intangible fixed assets							£
	Goodwill and licence fees:

	Cost
	At 1 January 2024							10,962,863
	At 31 December 2024							10,962,863

	Amortisation
	At 1 January 2024							5,470,469
	Provided during the year							344,443
	At 31 December 2024							5,814,912

	Carrying amount
	At 31 December 2024							5,147,951
	At 31 December 2023							5,492,394

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


11	Tangible fixed assets
		Plant and machinery		Office equipment		Motor vehicles		Total
		At cost		At cost		At cost
£			£		£		£
	Cost or valuation
	At 1 January 2024	22,891,682		79,288		59,879		23,030,849
	Additions	1,062,389		11,917		103,860		1,178,166
	Disposals	(52,259)		-		(41,460)		(93,719)
	At 31 December 2024	23,901,812		91,205		122,279		24,115,296

	Depreciation
	At 1 January 2024	11,768,616		56,583		29,789		11,854,988
	Charge for the year	2,235,712		5,814		23,416		2,264,942
	On disposals	(49,717)		-		(28,331)		(78,048)
	At 31 December 2024	13,954,611		62,397		24,874		14,041,882

	Carrying amount
	At 31 December 2024	9,947,201		28,808		97,405		10,073,414
	At 31 December 2023	11,123,066		22,705		30,090		11,175,861



12	Investments

Other
investments
£
	Cost
	At 1 January 2024							32,500

	At 31 December 2024							32,500

	Historical cost
	At 1 January 2024							32,500
	At 31 December 2024							32,500


13	Stocks					2024		2023
£							£

	Finished goods and goods for resale					633,819		606,261


14	Debtors					2024		2023
£							£

	Trade debtors					59,196		41,708
	Corporation tax recoverable					-		337,000
	Other debtors					-		47,032
	Prepayments and accrued income					498,663		418,070
						557,859		843,810


15	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans					6,587,053		2,229,806
	Director's loan account					15,445		12,944
	Trade creditors					1,632,904		877,203
	Corporation tax					9,380		34,438
	Other taxes and social security costs					2,359,801		3,238,532
	Other creditors					1,104,074		1,005,528
	Accruals and deferred income					4,317,868		4,186,535
						16,026,525		11,584,986


16	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					-		6,643,688


17	Operating lease commitments

	Due to the sale of all of it’s restaurant businesses in July and August 2025 the amount due on operating leases on the restaurants up until disposal was £1,825,275.


18	Deferred taxation					2024		2023
£							£

	Accelerated capital allowances					1,660,986		1,940,000


						2024		2023
£							£

	At 1 January					1,940,000		1,383,000
	(Credited)/charged to the profit and loss account					(279,014)		557,000

	At 31 December					1,660,986		1,940,000


19	Defined benefit pension plans					2024		2023
£							£
	Charge to profit or loss in respect of defined contribution schemes					455,320		394,891

	The company operates a defined contribution pension scheme for all qualifying employees.The assets of the scheme are held separately from those of the company in an independently administered fund.


20	Share capital	Nominal		2024		2024		2023
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1,000		1,000		1,000


21	Profit and loss account					2024		2023
£							£

	At 1 January					5,307,744		5,478,611
	(Loss)/profit for the financial year					(1,091,260)		829,133
	Dividends					(1,000,000)		(1,000,000)

	At 31 December					3,216,484		5,307,744


22	Dividends					2024		2023
£							£

	Dividends on ordinary shares (note 21)					1,000,000		-


	Dividends proposed after the reporting date					200,000		300,000


23	Events after the reporting date

	During July and August 2025, the company sold all of its restaurant businesses. Sale proceeds amounted to apprximately £21 million. The sale occurred after the year-end and does not relate to conditions existing at the balance sheet date, and therefore has been treated as a non-adjusting event in accordance with FRS 102 Section 32.


24	Controlling party

	The ultimate controlling party is Mr D Wright, sole director and shareholder.



25	Analysis of changes in net debt		1 January 2024		Cash flows		31 December 2024
£					£		£

	Cash at bank and in hand			7,326,592		(2,867,140)		4,459,452
	Borrowings excluding overdrafts			(8,873,494)		2,286,441		(6,587,053)

				(1,546,902)		(580,699)		(2,127,601)