Company registration number 11079987 (England and Wales)
FAT HIPPO GROUP LIMITED
ANNUAL REPORT AND GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
FAT HIPPO GROUP LIMITED
COMPANY INFORMATION
Directors
M C Phillips
M Johnson
J Smith
(Appointed 2 September 2025)
N Fountain
(Appointed 2 September 2025)
Company number
11079987
Registered office
Fat Hippo Head Office
Unit 18
St Peters Wharf
Newcastle Upon Tyne
NE6 1TW
Auditor
Sumer Auditco Limited
Unit 2
Gosforth Park Avenue
Newcastle Upon Tyne
NE12 8EG
FAT HIPPO GROUP LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Profit and loss account
8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 30
FAT HIPPO GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 1 -

The directors present the strategic report for the year ended 31 July 2025.

Principal activities

The principal activity of the company continued to be that of holding company. The principal activities of the Group continued to be that of a restaurateur.

Fair Review of the Business

The Group is made up of the following subsidiaries:

- Fat Hippo Restaurants Limited

- Fat Hippo Newcastle Limited

- Fat Hippo 7 Limited

- Fat Hippo Kiosk Limited

- Fat Hippo To Go Limited

The Group faced a challenging year in a sector that has seen significant cost increases in the labour market, higher energy costs and increased price pressure from core suppliers. Despite this, turnover remained above the £18m mark, with EBITDA in excess of £1.4m, demonstrating the strength of the Group. Additionally the Group has been able to maintain its gross profit at 34% and reported an improved operating profit of £862k (23% increase on last year).

The Group’s continuous strategic review of operations led to considerable efficiency savings at both venue and head office level allowing the Group to both protect margins and reduce overheads. Each venue is assessed and action plans are put in place for any underperforming sites. Since the year end the Group closed one of its sites.

On 29 August 2025, the Group opened its newest site in Leeds demonstrating the confidence the management has in the Group, with more new sites on the horizon.

The Group currently operates from 14 sites across the UK, continuing to deliver its award-winning casual dining offering. The directors and management team have maintained a strong focus on operational efficiency whilst upholding high standards of quality and service across all sites.

Principal risks and uncertainties

The Group is exposed to a moderate level of price risk, credit risk, liquidity risk and cash flow risk. The Group manages these risks by financing its operations through retained profits, supplemented by bank loans where necessary to fund capital expenditure programmes.

The management objectives are to retain sufficient liquid funds in order to meet its day to day requirements, minimise the company's exposure to fluctuating interest rates, and match the repayment schedule of any external borrowings or overdrafts with the future cash flows expected to arise from trading activities.

The Group makes little use of financial instruments other than operational bank accounts and so the exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the Group.

Future developments

The Group’s strategic focus is to continue expanding the business by maximising EBITDA generation across its existing estate, while maintaining an open view to identifying new site opportunities across the UK.

FAT HIPPO GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 2 -
Key performance indicators

The directors consider turnover, gross profit margin and EBITDA (earnings before interest, tax, depreciation and amortisation) to be key measures of the Group's performance:

| 31 July 202 5 | 31 July 202 4
Turnover | £18,258,696 | £19,353,742
Gross profit margin | 33.7% | 34.4%
EBITDA | £1,420,183 | £1,901,255

The profit after tax for the year was £179,636 (2024 - £487,255) and the net asset position at the year end was £2,273,284 (2024 - £2,093,648).

The directors consider the Group's results to be satisfactory in light of current market conditions.

On behalf of the board

M C Phillips
Director
09 April 2026
FAT HIPPO GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 July 2025.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M C Phillips
M Johnson
J Smith
(Appointed 2 September 2025)
N Fountain
(Appointed 2 September 2025)
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 group continues and that the appropriate training is arranged. It is the policy of the group 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 group's policy is to consult and discuss with employees, through meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through regular meetings which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

There are a number of staff incentivisation schemes as a scheme as a means of further encouraging the involvement of employees in the company's performance.

Auditor

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

FAT HIPPO GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 4 -
Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have prepared the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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 group and parent company, and of the profit or loss of the group for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The true group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
M C Phillips
Director
09 April 2026
FAT HIPPO GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FAT HIPPO GROUP LIMITED
- 5 -
Opinion

We have audited the financial statements of Fat Hippo Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group 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 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 group's and the parent company's affairs as at 31 July 2025 and of the group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our 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 our audit:

- T he information given in the strategic report and the directors' r eport 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.

FAT HIPPO GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF FAT HIPPO GROUP LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company 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' r esponsibilities s tatement, 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 group's and parent 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 group or parent 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

FAT HIPPO GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF FAT HIPPO GROUP LIMITED
- 7 -
Capability of the audit in detecting irregularities, including fraud

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

- Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include health & safety legislation and UK licensing laws.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of legal costs incurred; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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 parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Gainford (Senior Statutory Auditor)
For and on behalf of Sumer Auditco Limited
Statutory Auditor
Unit 2
Gosforth Park Avenue
Newcastle Upon Tyne
NE12 8EG
09 April 2026
FAT HIPPO GROUP LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
18,258,696
19,353,742
Cost of sales
(12,100,293)
(12,692,712)
Gross profit
6,158,403
6,661,030
____________________________________________________________________________________________
Amortisation
(106,756)
(106,756)
Depreciation
(451,274)
(1,091,630)
EBITDA
1,420,183
1,901,255
____________________________________________________________________________________________
Administrative expenses
(5,309,431)
(6,028,705)
Other operating income
13,181
70,544
Operating profit
4
862,153
702,869
Interest receivable and similar income
380
1,966
Interest payable and similar expenses
8
(104,208)
(148,754)
Other gains and losses
9
(513,048)
-
Profit before taxation
245,277
556,081
Tax on profit
10
(65,641)
(68,856)
Profit for the financial year
179,636
487,225
Profit for the financial year is all attributable to the owner of the parent company.
FAT HIPPO GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2025
- 9 -
2025
2024
£
£
Profit for the year
179,636
487,225
Other comprehensive income
-
-
Total comprehensive income for the year
179,636
487,225
Total comprehensive income for the year is all attributable to the owner of the parent company.
FAT HIPPO GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
11
484,115
560,554
Other intangible assets
11
152,269
182,586
Total intangible assets
636,384
743,140
Tangible assets
12
2,330,688
2,742,408
2,967,072
3,485,548
Current assets
Stocks
15
130,236
141,720
Debtors
16
1,673,130
1,402,170
Cash at bank and in hand
519,277
963,156
2,322,643
2,507,046
Creditors: amounts falling due within one year
17
(2,276,916)
(2,790,759)
Net current assets/(liabilities)
45,727
(283,713)
Total assets less current liabilities
3,012,799
3,201,835
Creditors: amounts falling due after more than one year
18
(425,991)
(862,147)
Provisions for liabilities
Provisions
21
195,890
-
0
Deferred tax liability
22
117,634
246,040
(313,524)
(246,040)
Net assets
2,273,284
2,093,648
Capital and reserves
Called up share capital
25
195
195
Other reserves
1,938,227
1,938,227
Profit and loss reserves
334,862
155,226
Total equity
2,273,284
2,093,648
The financial statements were approved by the board of directors and authorised for issue on 09 April 2026 and are signed on its behalf by:
M C Phillips
Director
Company registration number 11079987 (England and Wales)
FAT HIPPO GROUP LIMITED
COMPANY BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
13
2,004,622
2,004,622
Current assets
Debtors
16
1,724,925
1,406,575
Creditors: amounts falling due within one year
17
(1,358,454)
(590,861)
Net current assets
366,471
815,714
Total assets less current liabilities
2,371,093
2,820,336
Creditors: amounts falling due after more than one year
18
(425,991)
(862,147)
Net assets
1,945,102
1,958,189
Capital and reserves
Called up share capital
25
195
195
Other reserves
1,938,227
1,938,227
Profit and loss reserves
6,680
19,767
Total equity
1,945,102
1,958,189

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s loss for the year was £13,087 (2024 - £7,193 profit).

The financial statements were approved by the board of directors and authorised for issue on 09 April 2026 and are signed on its behalf by:
M C Phillips
Director
Company registration number 11079987 (England and Wales)
FAT HIPPO GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
- 12 -
Share capital
Merger relief reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 August 2023
195
1,938,227
(331,999)
1,606,423
Year ended 31 July 2024:
Profit and total comprehensive income - as restated
-
-
487,225
487,225
Balance at 31 July 2024 - as restated
195
1,938,227
155,226
2,093,648
Year ended 31 July 2025:
Profit and total comprehensive income
-
-
179,636
179,636
Balance at 31 July 2025
195
1,938,227
334,862
2,273,284
FAT HIPPO GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
- 13 -
Share capital
Merger relief reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 August 2023
195
1,938,227
12,574
1,950,996
Year ended 31 July 2024:
Profit and total comprehensive income for the year
-
-
7,193
7,193
Balance at 31 July 2024 - as restated
195
1,938,227
19,767
1,958,189
Year ended 31 July 2025:
Profit and total comprehensive income
-
-
(13,087)
(13,087)
Balance at 31 July 2025
195
1,938,227
6,680
1,945,102
FAT HIPPO GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
31
1,227,053
1,278,961
Interest paid
(104,208)
(148,754)
Income taxes (paid)/refunded
(341,636)
10,491
Net cash inflow from operating activities
781,209
1,140,698
Investing activities
Purchase of tangible fixed assets
(357,403)
(80,149)
Proceeds from disposal of tangible fixed assets
2,000
-
Movement in loans to directors
(400,000)
(255,000)
Interest received
380
1,966
Net cash used in investing activities
(755,023)
(333,183)
Financing activities
Repayment of bank loans
(453,428)
(420,045)
Payment of finance leases obligations
(16,637)
(28,605)
Net cash used in financing activities
(470,065)
(448,650)
Net (decrease)/increase in cash and cash equivalents
(443,879)
358,865
Cash and cash equivalents at beginning of year
963,156
604,291
Cash and cash equivalents at end of year
519,277
963,156
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 15 -
1
Accounting policies
Company information

Fat Hippo Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Fat Hippo Head Office, Unit 18, St Peters Wharf, Newcastle Upon Tyne, NE6 1TW.

The group consists of Fat Hippo Group Limited and all of its subsidiaries.

1.1
Accounting convention

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 a mounts 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.

Fat Hippo Group Limited, as an individual entity, meets the definition of a qualifying entity per FRS 102 and has taken advantage of the exemption available in paragraph 1.12 of FRS 102 from presenting a company-only statement of cash flows. These consolidated financial statements include a consolidated statement of cash flows which include the cash flows of Fat Hippo Group Limited.

1.2
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Fat Hippo Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 July 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.3
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the group and parent company ha ve adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Revenue comprises food and drinks sold in the Group's restaurants. Revenue is recognised when control of the goods has transferred, being at the point the customer purchases the goods at the restaurant or on ordering through a delivery partner. Payment of the transaction price is due immediately at the point the customer makes a purchase at the restaurant, or on agreed terms where purchases are made through third-party delivery partners. Revenue excludes sales-based taxes, coupons and discounts.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 16 -
1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.6
Intangible fixed assets other than goodwill

The premiums paid for the assignment of the leases for the properties in September 2010, March 2016, April 2022 and July 2022 are amortised over the remaining term of the leases.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
15% reducing balance
Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Computers
33.33% straight line
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 recognised in the profit and loss account.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group 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).

1.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 17 -
1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 m ethod 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.

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 group 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 group after deducting all of its liabilities.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 18 -
Basic financial 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 paymen ts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group 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 group.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.14
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 19 -
1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received, if considered material to the financial statements.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

The expense in relation to options over the parent company’s shares granted to employees of a subsidiary is recognised by the c ompany as a capital contribution, and presented as an increase in the company’s investment in that subsidiary.

1.18
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.19
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 20 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment in assets, the directors have considered both external and internal sources of information such as market conditions and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Determining residual values and useful economic lives of fixed assets

The group depreciates intangible assets and tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is applied by management when determining the residual values for intangible assets and tangible fixed assets. When determining the residual value management aim to assess the amount that the group would currently obtain for disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

The group has revised the estimated useful lives of it's fixed assets based on management’s assessment of their expected useful life. Depreciation rates for affected assets have been adjusted accordingly. This change has decreased depreciation expense for the current period by £675,992 and is expected to reduce depreciation charges in future periods.

The carrying amount of intangible assets at the reporting end date was £636,384 (2024 - £743,140).The carrying amount of tangible fixed assets at the reporting end date was £2,647,846 (2024 - £2,742,408).

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Restaurant sales
18,258,696
19,353,742
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
3
Turnover and other revenue
(Continued)
- 21 -
2025
2024
£
£
Other revenue
Interest income
380
1,966
Grants received
-
1,850

Turnover arose solely in the United Kingdom.

4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
451,274
1,091,630
Profit on disposal of tangible fixed assets
(1,309)
-
Amortisation of intangible assets
106,756
106,756
Operating lease charges
1,003,670
870,228
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
17,500
20,000
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Restaurant staff
385
400
-
-
Office and management
28
30
2
2
Total
413
430
2
2
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
6
Employees
(Continued)
- 22 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
6,023,512
6,305,926
-
0
-
0
Social security costs
504,673
452,522
-
-
Pension costs
84,832
80,555
-
0
-
0
6,613,017
6,839,003
-
0
-
0
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
113,296
103,163
Company pension contributions to defined contribution schemes
1,321
1,321
114,617
104,484
8
Interest payable and similar expenses
2025
2024
£
£
Interest on bank loans
100,637
140,571
Interest on finance leases and hire purchase contracts
3,571
4,750
Other interest
-
3,433
Total finance costs
104,208
148,754
9
Other gains and losses
2025
2024
£
£
Impairment of property, plant and equipment
(317,158)
-
Provisions for onerous lease arrangements
(195,890)
-
(513,048)
-

During the year, the group recognised a charge in respect of an onerous lease of £195,890 (202 4: £nil) and the impairment of fixed assets of £317,158 (202 4: £nil) .

The onerous lease provision arose following the group’s decision to vacate a leased property during the year, and represents the unavoidable costs of exiting the lease, based on a settlement agreed on 27 February 2026 as described in note 21.

The impairment charge relates to property, plant and equipment associated with the vacated property, which have been written down to their recoverable amount following cessation of use as described in note 12.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 23 -
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
194,174
256,810
Adjustments in respect of prior periods
(924)
-
0
Total current tax
193,250
256,810
Deferred tax
Origination and reversal of timing differences
(127,609)
(187,954)
Total tax charge
65,641
68,856

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
245,277
556,081
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
61,319
139,020
Tax effect of expenses that are not deductible in determining taxable profit
172,277
51,422
Tax effect of income not taxable in determining taxable profit
(167,955)
(37,963)
Adjustments in respect of prior years
-
0
(131,067)
Other
-
0
47,444
Taxation charge
65,641
68,856
11
Intangible fixed assets
Group
Goodwill
Lease premium
Total
£
£
£
Cost
At 1 August 2024 and 31 July 2025
774,391
431,370
1,205,761
Amortisation and impairment
At 1 August 2024
213,837
248,784
462,621
Amortisation charged for the year
76,439
30,317
106,756
At 31 July 2025
290,276
279,101
569,377
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
11
Intangible fixed assets
(Continued)
- 24 -
Carrying amount
At 31 July 2025
484,115
152,269
636,384
At 31 July 2024
560,554
182,586
743,140
The company had no intangible fixed assets at 31 July 2025 or 31 July 2024.
12
Tangible fixed assets
Group
Improvements to property
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 August 2024
1,130,805
1,035,083
4,081,588
22,487
58,739
6,328,702
Additions
300,682
40,997
15,054
670
-
0
357,403
Disposals
-
0
(36,071)
-
0
-
0
(57,997)
(94,068)
At 31 July 2025
1,431,487
1,040,009
4,096,642
23,157
742
6,592,037
Depreciation and impairment
At 1 August 2024
684,137
724,802
2,102,376
22,482
52,497
3,586,294
Depreciation charged in the year
72,710
68,045
304,944
24
5,551
451,274
Impairment losses
79,702
-
0
237,456
-
0
-
0
317,158
Eliminated in respect of disposals
-
0
(36,071)
-
0
-
0
(57,306)
(93,377)
At 31 July 2025
836,549
756,776
2,644,776
22,506
742
4,261,349
Carrying amount
At 31 July 2025
594,938
283,233
1,451,866
651
-
0
2,330,688
At 31 July 2024
446,668
310,281
1,979,212
5
6,242
2,742,408
The company had no tangible fixed assets at 31 July 2025 or 31 July 2024.

During the year, the group recognised an impairment charge of £317,158 in respect of tangible fixed assets associated with a vacated property as described in note 9.

13
Fixed asset investments
Group
Company
2025
2024
2025
2024
as restated
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
2,004,622
2,004,622
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 25 -
14
Subsidiaries

Details of the company's subsidiaries at 31 July 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Fat Hippo Restaurants Ltd
Fat Hippo Head Office, Unit 18, St Peters Wharf, Newcastle Upon Tyne, NE6 1TW
Ordinary
100.00
Fat Hippo Newcastle Ltd
As above
Ordinary
100.00
Fat Hippo 7 Ltd
As above
Ordinary
100.00
Fat Hippo To Go Ltd
As above
Ordinary
100.00
Fat Hippo Kiosk Ltd
As above
Ordinary
100.00

The subsidiaries have taken the exemption from audit for the year ended 31 July 2025 by virtue of s479A of the Companies Act 2006.

15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials and consumables
130,236
141,720
-
0
-
0
16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
37,605
113,927
-
0
-
0
Corporation tax recoverable
-
0
32,134
-
0
-
0
Amounts owed by group undertakings
-
-
835,987
917,637
Other debtors
1,209,671
790,831
888,938
488,938
Prepayments and accrued income
425,854
464,481
-
0
-
0
1,673,130
1,401,373
1,724,925
1,406,575
Amounts falling due after more than one year:
Deferred tax asset (note 22)
-
0
797
-
0
-
0
Total debtors
1,673,130
1,402,170
1,724,925
1,406,575
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 26 -
17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
19
437,728
455,000
437,728
455,000
Obligations under finance leases
20
-
0
16,637
-
0
-
0
Trade creditors
997,836
808,401
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
892,336
-
0
Corporation tax payable
194,174
374,694
-
0
123,352
Other taxation and social security
399,782
766,295
-
-
Other creditors
54,085
74,163
-
0
-
0
Accruals and deferred income
193,311
295,569
28,390
12,509
2,276,916
2,790,759
1,358,454
590,861

Obligations under finance leases are secured on the assets to which they relate.

18
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
19
425,991
862,147
425,991
862,147

Obligations under finance leases are secured on the assets to which they relate.

19
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
863,719
1,317,147
863,719
1,317,147
Payable within one year
437,728
455,000
437,728
455,000
Payable after one year
425,991
862,147
425,991
862,147

The bank loans are secured by fixed and floating charges over all the present and future property and assets of the Group. Personal guarantee from Michael Phillips is given over £250,000 of the bank loans.

20
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
-
0
16,637
-
0
-
0
FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
20
Finance lease obligations
(Continued)
- 27 -

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

21
Provisions for liabilities
Group
Company
2025
2024
2025
2024
£
£
£
£
Onerous lease provision
195,890
-
-
-

The onerous lease provision represents the present value of unavoidable costs in respect of a property lease that was vacated during the year as described in note 9.

22
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Group
£
£
£
£
Accelerated capital allowances
117,634
246,040
-
797
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 August 2024
245,243
-
Credit to profit or loss
(127,609)
-
Liability at 31 July 2025
117,634
-
23
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
84,832
80,555

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 28 -
24
Share-based payment transactions

The company operates an EMI share option plan.

The participating employees have been granted options to acquire Ordinary £1 shares in the company at an exercise price of £2,444.60 per share. The options can only be exercised once specific criteria are met, and are subject to the terms stipulated in the EMI share option contract.

At the year end there have been 6 options granted to acquire Ordinary £1 shares, which are yet to vest.

25
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
195
195
195
195
26
Merger relief reserve
2025
2024
Group and company
£
£
At the beginning and end of the year
1,938,227
1,938,227

Merger relief reserve represents the difference between the value of shares issued by the Company in exchange for the fair value of shares acquired in respect of the acquisition of subsidiaries Fat Hippo Restaurants Ltd and Fat Hippo Newcastle Ltd in December 2021.

27
Financial commitments, guarantees and contingent liabilities

Under section 479A of the Companies Act 2006, Fat Hippo Group Ltd, the parent company, has guaranteed all outstanding liabilities to which the subsidiaries listed in note 14 were subject to at 31 July 2024 until they are satisfied in full. Such guarantees are enforceable against Fat Hippo Group Limited by any person to whom any such liability is due.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 29 -
28
Operating lease commitments
As lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within 1 year
1,005,362
794,472
-
-
Years 2-5
2,863,722
2,913,722
-
-
After 5 years
3,246,658
3,942,797
-
-
7,115,742
7,650,991
-
-
29
Directors' transactions

Advances or credits have been granted by the group to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Directors loan account
-
365,486
399,061
764,547
30
Controlling party

M C Phillips is the ultimate controlling party by virtue of his interest in the issued share capital of Fat Hippo Group Limited.

FAT HIPPO GROUP LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 30 -
31
Cash generated from group operations
2025
2024
£
£
Profit after taxation
179,636
487,225
Adjustments for:
Taxation charged
65,641
68,856
Finance costs
104,208
148,754
Investment income
(380)
(1,966)
Gain on disposal of tangible fixed assets
(1,309)
-
Amortisation and impairment of intangible assets
106,756
106,756
Depreciation and impairment of tangible fixed assets
768,432
1,091,630
Increase in provisions
195,890
-
Movements in working capital:
Decrease/(increase) in stocks
11,484
(19,647)
Decrease/(increase) in debtors
96,109
(372,830)
Decrease in creditors
(299,414)
(227,967)
Decrease in deferred income
-
(1,850)
Cash generated from operations
1,227,053
1,278,961
32
Analysis of changes in net debt - group
1 August 2024
Cash flows
31 July 2025
£
£
£
Cash at bank and in hand
963,156
(443,879)
519,277
Borrowings excluding overdrafts
(1,317,147)
453,428
(863,719)
Obligations under finance leases
(16,637)
16,637
-
(370,628)
26,186
(344,442)
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