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Registered number: 05994921










ON A ROLL SANDWICH COMPANY LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
COMPANY INFORMATION


DIRECTOR
Mr J M Stoddart 




COMPANY SECRETARY
Mrs H Stoddart



REGISTERED NUMBER
05994921



REGISTERED OFFICE
The Pantry
Barton Road

Middlesborough

TS2 1RY




INDEPENDENT AUDITORS
Waltons Business Advisers Limited
Chartered Accountants & Statutory Auditors

Maritime House

Harbour Walk

The Marina

Hartlepool

TS24 0UX





 
ON A ROLL SANDWICH COMPANY LIMITED
 

CONTENTS



Page
Director's report
1 - 4
Strategic report
5 - 7
Independent auditors' report
8 - 11
Statement of income and retained earnings
12
Balance sheet
13 - 14
Statement of cash flows
15 - 16
Analysis of net debt
17
Notes to the financial statements
18 - 29


 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2025

The director presents his report and the financial statements for the year ended 31 January 2025.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the strategic report, the 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 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 for the company's financial statements and then apply them consistently;

make judgements 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 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 to enable him to ensure that the financial statements comply with the Companies Act 2006He 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.

PRINCIPAL ACTIVITY

The principal activity of the company during the year was that of food manufacturing and distribution.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £2,423,083 (2024 - £2,357,801).

DIRECTOR

The director who served during the year was:

Mr J M Stoddart 

Page 1

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025

FUTURE DEVELOPMENTS

On A Roll Sandwich Company Limited (OAR) has seen a small growth in the business over the financial year but underneath the figures, there are losses and gains. Over the next year, the director expects growth to be around 5% within their current customer base as well as another 5% in new business.
The main concern is the unsettled economy and as such, decisions need to be made on where growth will come from, and how the business keeps the spread across the market sector to ensure risks are mitigated.
Investment in experienced, senior board members with food to go experience, is ensuring the business is becoming more national focused. The first 6 months of the current year have been as planned, and not shown  growth, however, the second half is expected to start improve, with the following year to 31 January 2027 showing an better return on investment.

RESEARCH AND DEVELOPMENT ACTIVITIES

The company has had a quieter year investment wise, but have continued to work with their packaging suppliers generally to get them the most environmentally friendly packaging available. The key aim is to continue to reduce the environmental impact of the business and going in 2025-26 is to improve this further.
At  the end of the financial year, discussions have started on the purchase of new machinery to improve efficiency on the lines and to ensure the continuation of cost saving improvements with the development of new line equipment with machine manufacturers.

DISABLED EMPLOYEES

The company is committed to building a workforce which reflects the working population and our local community and are looking at ways we can provide greater flexibility in manufacturing, to increase diversity.  We are an equal opportunities employer, both at the point of recruitment and throughout employment; ensuring that all applicants and workers are treated equally and ensuring that everyone has the same access to promotion opportunities. 

Page 2

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENERGY EFFICIENCY ACTION

In line with the Streamlined Energy and Carbon Reporting legislation, the company is required to report its energy consumption and greenhouse gas emissions arising in the UK. All scope 1 & 2 sources of energy and emissions have been disclosed as well as mandatory scope 3 sources of energy and emissions.
This is our first year reporting under carbon reporting legislation. We have decided to use production as our intensity ratio as it best reflects our business performance as a whole and what has the largest impact on our energy levels. Although there have been no specific energy efficiency actions taken during this year, we do have the following energy saving measures implemented across our sites already.
Notable energy efficiency actions:
> All lights are fully LED
> Air source heat pump is utlised
> PIR lighting used in certain areas
> Heat recovery used to re-heat water

Source of Energy & Emissions
Energy Consumption (MWh)
GHG Emissions (tCO2e)

2025
2025
Combustion of Natural Gas
-
-
Combustion of Fuel in Company Vehicle
5,789.48
1,498.21
Scope 1 Total
5,789.48
1,498.21
Generation of Purchased Electricity
1,357.62
240.29
Of which from renewable sources
-
-
Scope 2 Total
1,357.62
240.29
Combustion of Fuel in Staff Vehicles
-
-
Scope 3 Total
-
-
Grand Total
7,147.1
1,738.51
Intensity per 1000 Units Produced
0.23
0.06


Conversion Factors
All conversion factors and fuel properties used in this disclosure have been taken from the 2025 "UK Government Greenhouse Gas Conversion Factors for Company Reporting" published by the Department for Energy Security & Net Zero (DESNZ) and the Department for Environment, Food & Rural Affairs (DEFRA). All greenhouse gas emissions have been expressed in terms of their carbon dioxide equivalence. A full list of conversation factors can be viewed below.

Fuel
Conversion
Factor
Electricity: UK
kg CO2e/kWh
0.17700
Natural gas (Standard UK grid)
kg CO2e/kWh (Gross CV)
0.18296



Vehicle Type
Conversion
Factor
Average HGV's
kWh/mile (Net CV)
5.50665

kg CO2e/mile
1.43425
Van Class 3
kWh/mile (Net CV)
1.74073

kg CO2e/mile
0.44866
Van Average Size
kWh/mile (Net CV)
1.5924

kg CO2e/mile
0.41138




Page 3

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025


Utilities
Energy consumption expressed in kilowatt-hours has been taken from suppliers' invoices for electricity. 100% of our utility information both Electricity was available for this report. Location-based kgCO2e/kWh conversion factors for the average UK grid supply have been used to calculate the associated greenhouse gas emissions.
Transport
Staff only drive company vehicles and the mileage is recorded. The conversion factors for HGV's & Vans (By size) have been used to calculate greenhouse gas emissions and underlying energy use.
Other Fuels & Emissions
Maintenance records did not contain any instances of refrigerant leaks for air conditioning systems.

MATTERS COVERED IN THE STRATEGIC REPORT

The business review, principal risks and uncertainties and financial key performance indicators are included in the strategic report.

DISCLOSURE OF INFORMATION TO AUDITORS

The director at the time when this director's report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the company's auditors are unaware, and

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

AUDITORS

The auditorsWaltons Business Advisers Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

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





Mr J M Stoddart
Director

Date: 17 October 2025

Page 4

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2025

BUSINESS REVIEW
 
On A Roll Sandwich Company Limited (OAR) has experienced modest growth of 3.6% during the financial year ended 31 January 2025.  While the company has achieved growth overall, this period has also seen the loss of some business in certain market areas.
This outcome was largely anticipated following a strategic decision not to compete solely on price in lower-margin tenders—particularly in public sector contracts, where cost can often outweigh quality in procurement decisions. 
OAR remains firmly committed to providing value through quality, service, and innovation rather than entering a price race to the bottom. The leadership team recognised these dynamics early in the year and proactively explored opportunities to strengthen existing relationships and identify new areas for expansion.  
Growth has therefore come primarily through increased sales within the current customer base, as well as new business development in select private sector markets where quality and reliability are key factors in supplier selection. 
From the 2024 Budget, management were aware that the rising cost of employment—particularly increases in the National Minimum Wage and National Insurance contributions—would have a substantial impact in 2025. 
As a result of this, OAR’s costing and pricing strategies for the new financial year were carefully recalibrated to absorb and reflect these pressures responsibly.  Additionally, several suppliers implemented price increases in early 2025, some as soon as January, ahead of the April 2025 budgetary changes.  Despite these pressures, OAR delayed its own price increases until May and June 2025, ensuring stability and fairness to its customer base during a volatile period. 
The wider food-to-go and sandwich manufacturing market has remained unsettled throughout the year, with ongoing consolidation, shifting consumer demand, and the exit of several operators from the sector through acquisition.  Against this backdrop, OAR has continued to focus on operational efficiency, product quality, and measured investment. 
The business has spent the year ending 31 January 2025 consolidating operations and returning to a steady, sustainable growth pattern. The company expects to see a gradual strengthening in performance during the second half of the financial year ending 31 January 2026.

Page 5

 
ON A ROLL SANDWICH COMPANY LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025

PRINCIPAL RISKS AND UNCERTAINTIES
 
The business environment during the financial year has been more volatile than usual, with significant fluctuations in costs, supply chain conditions, and customer demand.  
OAR continues to monitor these challenges closely and adapt where necessary. A key area of focus remains continuous investment in up-to-date machinery and automation to support the busiest production lines. 
Automation is essential to improving efficiency and mitigating the ongoing shortage of skilled labour in food manufacturing.  OAR recognises that maintaining production reliability and quality standards requires sustained investment in technology, training, and process improvements.
Pricing continues to represent one of the company’s most significant challenges. Customers are resistant to price increases, yet input costs—particularly food ingredients and packaging—have continued to rise throughout the year.  
Food inflation in 2025 has proven worse than the prior year, further compressing margins.  The business continues to review pricing structures regularly, balancing the need to remain competitive with the requirement to maintain profitability and product quality.  
The team is fully aware that the wider market remains highly competitive and that some competitors adopt aggressive pricing tactics. OAR’s strategy remains centred on delivering consistent quality, service, and dependability rather than compromising standards for short-term gain. Product integrity, operational excellence, and people development continues to be the core strengths of the business.

FINANCIAL KEY PERFORMANCE INDICATORS
 
The board monitors company performance using a range of indicators, some of the most significant of which are as follows:
 
Key performance indicators
2025
2024
2023
2022
2021

£'000
£'000
£'000
£'000
£'000
Sales growth / (reduction)
4%
30%
59%
35%
(19%)
Target for purchases as a % of sales - 55%
56%
57%
57%
52%
53%
Net profit before tax - 10%
8%
8%
8%
8%
2%
Direct employee costs as a % of sales target - 20%
20%
20%
18%
24%
31%


Page 6

 
ON A ROLL SANDWICH COMPANY LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025

DIRECTOR'S STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE COMPANY
 
In accordance with Section 172(1) of the Companies Act 2006, the director confirms that decisions made during the year were done so in good faith and with the intention of promoting the success of OAR for the benefit of its members as a whole, while having regard to the following key matters: 
Long-term success
The Board continually considers the long-term impact of its decisions, with a focus on sustainable growth and continued investment in modern facilities, automation, and innovation in the food-to-go sector. 
Employees
OAR’s people remain at the heart of the business. The company continues to invest in training, development, and wellbeing, ensuring that employees are engaged, supported, and aligned with the company’s goals.
Customers and suppliers
OAR values strong and transparent relationships with customers and suppliers alike.  Collaboration and communication underpin these partnerships, ensuring that all stakeholders share in mutual success and that quality and reliability remain uncompromised.
Community and environment
The company takes its environmental and social responsibilities seriously. OAR continues to minimise waste, reduce energy consumption, and source sustainably wherever possible. The company also supports local employment and contributes to the wider Middlesbrough community through responsible business practices.
Standards and reputation
The Board upholds the highest standards of integrity, quality, and compliance. Food safety, ethical sourcing, and fair dealing remain central to OAR’s values, ensuring that the company’s reputation continues to reflect trust, professionalism, and excellence.
 


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



Mr J M Stoddart
Director

Date: 17 October 2025

Page 7

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ON A ROLL SANDWICH COMPANY LIMITED
 

UNQUALIFIED OPINION


We have audited the financial statements of On A Roll Sandwich Company Limited (the 'company') for the year ended 31 January 2025, which comprise the statement of income and retained earnings, the analysis of net debt, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the 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.


Page 8

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ON A ROLL SANDWICH COMPANY LIMITED (CONTINUED)


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

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


the information given in the 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 DIRECTORS
 

As explained more fully in the director's responsibilities statement set out on page 1, 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.


Page 9

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ON A ROLL SANDWICH COMPANY 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:

We gained an understanding of the legal and regulatory framework applicable to the company and the area in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We identified the greatest potential for fraud in the following areas: existence and timing of recognition of income and the posting of unusual journals. We discussed these risks with management and designed audit procedures to test the timing and existence of revenue. We reviewed journals posted during the year and around the year end to look for potential “window dressing”.


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.


Page 10

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ON A ROLL SANDWICH COMPANY LIMITED (CONTINUED)


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 2006Our 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.





Heather O'Driscoll FCA (senior statutory auditor)
  
for and on behalf of
Waltons Business Advisers Limited
 
Chartered Accountants
Statutory Auditors
  
Maritime House
Harbour Walk
The Marina
Hartlepool
TS24 0UX

23 October 2025
Page 11

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JANUARY 2025

2025
2024
Note
£
£

  

Turnover
 3 
41,033,787
39,592,233

Cost of sales
  
(31,649,509)
(30,848,663)

GROSS PROFIT
  
9,384,278
8,743,570

Distribution costs
  
(2,713,426)
(2,185,158)

Administrative expenses
  
(3,492,824)
(3,262,847)

Other operating income
 4 
22,305
22,305

OPERATING PROFIT
 5 
3,200,333
3,317,870

Interest receivable and similar income
 9 
71,946
13,686

Interest payable and similar expenses
 10 
(7,477)
(23,961)

PROFIT BEFORE TAX
  
3,264,802
3,307,595

Tax on profit
 11 
(841,719)
(949,794)

PROFIT AFTER TAX
  
2,423,083
2,357,801

  

  

Retained earnings at the beginning of the year
  
9,372,937
7,193,052

  
9,372,937
7,193,052

Profit for the year
  
2,423,083
2,357,801

Dividends declared and paid
  
(180,000)
(177,916)

RETAINED EARNINGS AT THE END OF THE YEAR
  
11,616,020
9,372,937
The notes on pages 18 to 29 form part of these financial statements.

Page 12

 
ON A ROLL SANDWICH COMPANY LIMITED
REGISTERED NUMBER: 05994921

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
2024
Note
£
£

FIXED ASSETS
  

Tangible assets
 13 
3,996,829
4,328,670

Investments
 14 
1,080
1,080

  
3,997,909
4,329,750

CURRENT ASSETS
  

Stocks
 15 
2,229,424
2,088,312

Debtors: amounts falling due within one year
 16 
5,972,259
5,515,997

Cash at bank and in hand
 17 
3,937,917
2,349,271

  
12,139,600
9,953,580

Creditors: amounts falling due within one year
 18 
(3,440,573)
(3,719,062)

NET CURRENT ASSETS
  
 
 
8,699,027
 
 
6,234,518

TOTAL ASSETS LESS CURRENT LIABILITIES
  
12,696,936
10,564,268

Creditors: amounts falling due after more than one year
 19 
-
(43,661)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 21 
(635,059)
(679,508)

Other provisions
 22 
(445,757)
(468,062)

  
 
 
(1,080,816)
 
 
(1,147,570)

NET ASSETS
  
11,616,120
9,373,037


CAPITAL AND RESERVES
  

Called up share capital 
 23 
100
100

Profit and loss account
 24 
11,616,020
9,372,937

  
11,616,120
9,373,037


Page 13

 
ON A ROLL SANDWICH COMPANY LIMITED
REGISTERED NUMBER: 05994921
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 October 2025.




Mr J M Stoddart
Director

The notes on pages 18 to 29 form part of these financial statements.

Page 14

 
ON A ROLL SANDWICH COMPANY LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2025

2025
2024
£
£

CASH FLOWS FROM OPERATING ACTIVITIES

Profit after tax
2,423,083
2,357,801

ADJUSTMENTS FOR:

Depreciation of tangible assets
409,614
469,788

Government grants
(22,305)
(22,305)

Interest paid
7,477
23,961

Interest received
(71,946)
(13,686)

Taxation charge
841,719
828,502

(Increase)/decrease in stocks
(141,112)
20,427

(Increase) in debtors
(438,206)
(881,431)

(Decrease) in creditors
(112,678)
(358,931)

Corporation tax (paid)
(943,000)
(831,688)

NET CASH GENERATED FROM OPERATING ACTIVITIES

1,952,646
1,592,438


CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of tangible fixed assets
(77,773)
(256,800)

Interest received
71,946
13,686

HP interest paid
(2,042)
(7,764)

NET CASH FROM INVESTING ACTIVITIES

(7,869)
(250,878)

CASH FLOWS FROM FINANCING ACTIVITIES

Repayment of loans
(125,562)
(186,158)

Repayment of/new finance leases
(45,134)
(44,807)

Dividends paid
(180,000)
(177,916)

Interest paid
(5,435)
(16,197)

NET CASH USED IN FINANCING ACTIVITIES
(356,131)
(425,078)

INCREASE IN CASH AND CASH EQUIVALENTS
1,588,646
916,482

Cash and cash equivalents at beginning of year
2,349,271
1,432,789
Page 15

 
ON A ROLL SANDWICH COMPANY LIMITED
 

STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025


2025
2024

£
£



CASH AND CASH EQUIVALENTS AT THE END OF YEAR
3,937,917
2,349,271


CASH AND CASH EQUIVALENTS AT THE END OF YEAR COMPRISE:

Cash at bank and in hand
3,937,917
2,349,271

3,937,917
2,349,271


The notes on pages 18 to 29 form part of these financial statements.

Page 16

 
ON A ROLL SANDWICH COMPANY LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 JANUARY 2025




At 1 February 2024
Cash flows
At 31 January 2025
£

£

£

Cash at bank and in hand

2,349,271

1,588,646

3,937,917

Debt due within 1 year

(125,562)

125,562

-

Finance leases

(94,670)

45,134

(49,536)


2,129,039
1,759,342
3,888,381

The notes on pages 18 to 29 form part of these financial statements.

Page 17

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


GENERAL INFORMATION

The company is a private company limited by share capital and registered in England and Wales. The registered office address is:
The Pantry
Barton Road
Middlesbrough
TS2 1RY

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom 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.

 
2.2

Going concern

The director, having made due and careful enquiry, is of the opinion that the company has in excess of £3m in cash reserves and an invoice discounting arrangement, therefore is confident it has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue comprises revenue recognised by the company in respect of goods supplied during the year, exclusive of Value Added Tax.
Revenue is recognised when the company has transferred ownership of goods to the buyer and revenue can be measured reliably. 

  
2.4
Invoice discounting

The company obtains finance in respect of trade debtors under an invoice discounting arrangement. This is regarded as a financing arrangement only, and the gross amount of the trade debtor is included in debtors with any advances received against these debts being included in other creditors. Interest and charges in respect of these arrangements are charged to the profit and loss on an accruals basis.

Page 18

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
50 years
Plant & machinery
-
8 years
Motor vehicles
-
4 years
Fixtures & fittings
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks of goods are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


TURNOVER

All turnover arose within the United Kingdom.


4.


OTHER OPERATING INCOME

2025
2024
£
£

Government grants released
22,305
22,305

22,305
22,305


Page 19

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

5.


OPERATING PROFIT

The operating profit is stated after charging:

2025
2024
£
£

Depreciation of tangible fixed assets
409,614
469,788

Exchange differences
-
3,224

Defined contribution pension cost
253,329
445,818

Government grants
(22,305)
(22,305)


6.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors and their associates:


2025
2024
£
£

Fees payable to the company's auditors and their associates for the audit of the company's financial statements
13,250
12,020

Fees payable to the company's auditors and their associates in respect of:

Taxation compliance services
1,090
1,035

All non-audit services not included above
7,155
6,810
Page 20

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

7.


EMPLOYEES

Staff costs, including director's remuneration, were as follows:


2025
2024
£
£

Wages and salaries
7,415,798
6,178,888

Social security costs
654,338
510,233

Cost of defined contribution scheme
253,329
445,818

8,323,465
7,134,939


Total remuneration to key management personnel was £24,140 (2024: £24,120).

The average monthly number of employees, including the director, during the year was as follows:


        2025
        2024
            No.
            No.







Production
244
213



Admin and directors
23
23



Quality assurance department
17
14



Maintenance
3
3

287
253


8.


DIRECTOR'S REMUNERATION

2025
2024
£
£

Director's emoluments
12,070
12,070

Company contributions to defined contribution pension schemes
62,850
168,163

74,920
180,233


During the year retirement benefits were accruing to 1 director (2024 - 1) in respect of defined contribution pension schemes.

Page 21

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

9.


INTEREST RECEIVABLE

2025
2024
£
£


Other interest receivable
71,946
13,686

71,946
13,686


10.


INTEREST PAYABLE AND SIMILAR EXPENSES

2025
2024
£
£


Bank interest payable
5,435
16,197

Finance leases and hire purchase contracts
2,042
7,764

7,477
23,961


11.


TAXATION


2025
2024
£
£

Corporation tax


Current tax on profits for the year
886,168
828,502


886,168
828,502


Total current tax
886,168
828,502

Deferred tax


Origination and reversal of timing differences
(69,817)
(20,947)

Changes to tax rates
25,368
142,239

Total deferred tax
(44,449)
121,292


Tax on profit
841,719
949,794
Page 22

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
 
11.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 24%). The differences are explained below:

2025
2024
£
£


Profit on ordinary activities before tax
3,264,802
3,307,595


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 24%)
816,201
794,820

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
2,815
3,725

Capital allowances for year in excess of depreciation
72,728
35,317

Short-term timing difference leading to an increase (decrease) in taxation
(69,817)
(20,947)

Other timing differences leading to an increase (decrease) in taxation
25,368
142,239

Non-taxable income
(5,576)
(5,360)

Total tax charge for the year
841,719
949,794


12.


DIVIDENDS

2025
2024
£
£


Dividends
180,000
177,916

180,000
177,916

Page 23

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

13.


TANGIBLE FIXED ASSETS





Land and buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£
£



Cost


At 1 February 2024
3,967,695
3,187,681
376,674
131,251
7,663,301


Additions
-
62,801
14,583
389
77,773



At 31 January 2025

3,967,695
3,250,482
391,257
131,640
7,741,074



Depreciation


At 1 February 2024
743,626
2,198,407
279,641
112,957
3,334,631


Charge for the year on owned assets
69,609
173,294
93,215
7,298
343,416


Charge for the year on financed assets
-
66,198
-
-
66,198



At 31 January 2025

813,235
2,437,899
372,856
120,255
3,744,245



Net book value



At 31 January 2025
3,154,460
812,583
18,401
11,385
3,996,829



At 31 January 2024
3,224,069
989,274
97,033
18,294
4,328,670

Page 24

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

           13.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2025
2024
£
£



Land and buildings
181,865
186,131

Plant and machinery
98,878
160,266

280,743
346,397


14.


FIXED ASSET INVESTMENTS





Unlisted investments

£





At 1 February 2024

1,080



At 31 January 2025
1,080





15.


STOCKS

2025
2024
£
£

Raw materials and consumables
1,251,361
1,270,157

Finished goods and goods for resale
978,063
818,155

2,229,424
2,088,312


Page 25

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

16.


DEBTORS

2025
2024
£
£


Trade debtors
4,878,815
4,466,760

Other debtors
1,032,694
990,894

Prepayments and accrued income
60,750
58,343

5,972,259
5,515,997


Of the trade debtors, 100% (2024: 100%) are held under a financing arrangement at the year end.


17.


CASH AND CASH EQUIVALENTS

2025
2024
£
£

Cash at bank and in hand
3,937,917
2,349,271

3,937,917
2,349,271



18.


CREDITORS: Amounts falling due within one year

2025
2024
£
£

Bank loans
-
125,562

Trade creditors
2,185,450
2,263,905

Corporation tax
403,980
442,756

Other taxation and social security
128,355
50,031

Obligations under finance lease and hire purchase contracts
49,536
51,009

Other creditors
175,111
366,201

Accruals and deferred income
498,141
419,598

3,440,573
3,719,062


Page 26

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

19.


CREDITORS: Amounts falling due after more than one year

2025
2024
£
£

Net obligations under finance leases and hire purchase contracts
-
43,661

-
43,661


The following liabilities were secured:
The net obligation under finance leases and hire purchase contracts are secured upon the assets to which they relate.


20.


FINANCIAL INSTRUMENTS

2025
2024
£
£

Financial assets


Financial assets measured at fair value through profit or loss
3,937,917
2,349,271

Financial assets that are debt instruments measured at amortised cost
5,911,509
5,457,654

9,849,426
7,806,925


Financial liabilities


Financial liabilities measured at amortised cost
(3,036,593)
(3,319,967)


Financial assets measured at fair value through profit or loss comprise cash in hand.


Financial assets that are debt instruments measured at amortised cost comprise trade and other debtors, VAT repayable. 


Financial liabilities measured at amortised cost comprise bank loans and overdrafts, trade creditors,  PAYE liabilities, obligations under finance lease and hire purchase contracts, accruals and other creditors.

Page 27

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

21.


DEFERRED TAXATION




2025


£






At beginning of year
679,508


Charged to profit or loss
(44,449)



At end of year
635,059

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
635,059
679,508

635,059
679,508


22.


GRANTS




Grants

£





At 1 February 2024
468,062


Utilised in year
(22,305)



At 31 January 2025
445,757


23.


SHARE CAPITAL

2025
2024
£
£
Allotted, called up and fully paid



100 (2024 - 100) Ordinary shares of £1.00 each
100
100


Page 28

 
ON A ROLL SANDWICH COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

24.


RESERVES

Profit & loss account

The profit and loss account represents accumulated profits less dividends paid.


25.


PENSION COMMITMENTS

Included within other creditors is an amount of £20,745 (1 February 2024: £13,474) in relation to outstanding  pension contributions.


26.


COMMITMENTS UNDER OPERATING LEASES

At 31 January 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
16,813
16,813

Later than 1 year and not later than 5 years
7,029
23,841

23,842
40,654


27.


RELATED PARTY TRANSACTIONS

At 31 January 2025 £342,807 (1 February 2024: £289,307) was due from the director and his wife. This was the maximum balance outstanding during the year.
Dividends of £180,000 were paid to the director and his wife during the year.

 
Page 29