The directors present the strategic report for the period ended 24 September 2025.
The principal activity of the group continued to be the operation of juice, smoothie, milkshake, and cookie bars. The company's principal activity is that of a holding company.
The group continued with its plan to focus sites in the elite shopping centres in the UK and is constantly reviewing its existing estate, along with looking for opportunities to expand in the right locations. Profitability of the core estate remains a key focus, whilst looking to expand the estate.
Results have been strong across the estate, with the focus on growth of the existing estate and addition of a further Ben's Cookies site in Reading during the period. A store in the Trafford Centre trading as the Shake Lab, was exited at the end of its lease.
Following the period end, the group has opened another two Ben's Cookies stores in the Trafford Centre and Lakeside, and exited a Shake Lab site in Sheffield as part of the estate restructure and expansion.
Recognising the importance of our store team’s contribution to our long-term success, we will continue to invest significantly into training & development and reward & recognition programmes for everyone within our business.
We are grateful for the continued support of our principal partners (Boost Australia) our various long-standing contractors, suppliers and landlords and for the all the hard work of our colleagues creating our in-store VIBE and to the support teams that keep the business developing successfully each year.
The group operates in the consumer leisure market where sales are derived from the consumers’ disposable incomes and the group’s products were sold at 30 (2024 - 33) different locations during the financial period in large privately owned spaces generally accessible to the public. There are general economic and political risks from trading in such a manner and the group is not able to mitigate such risks in any meaningful way. In addition to these generic risks the group faces other specific risks as follows:
Product integrity – raw materials are sourced from reputable suppliers, and are subject to annual lab analysis. Cleanliness standards are rigorously applied and regularly audited and recipes are designed and tested by the global brand owner.
Product supply chain – the group have supply chains in several countries worldwide and a local supply interruption could be covered by air-freight import.
Availability of finance – the group monitors its financial situation carefully matching its new site programme with its available resources.
The group considers the key financial indicators to be the level of sales, gross profit and operating profit. Sales have increased from the previous period (4.5% on 2024). This is due to a combination of sales price increases and also industry trends. The gross profit margin remained consistent at 77.8% (2024: 77.6%). This is down to sales price increases, and close management of the supply chain. Operating profit for the period was £1,069,517 (2024: £755,604), however, there was an exceptional charge of £42,049 (2024: £718,000) in the period. Excluding the exceptional charge, performance would have been £1,111,566 (2024: £1,473,604).
Future developments
The group's development is focused on three core areas:
1) development of quality brands that are fun, engaging, unique and accessible, 2) to be the first choice for consumers who want to refuel 'on the hoof' and 3) maximise store contribution whilst minimising central costs, thereby providing the group with a sustainable operating model and sufficient organic capital to invest in new stores and brand development.
Just as important as new store openings is the profitability of our existing estate. We have continued discussions with landlords to obtain better deals at our marginal sites, alongside our rent concession negotiations.
The group has net current assets of £242,119 (2024: £188,073), net assets of £444,245 (2024: £85,895 net liabilities), and has reported a retained profit for the year of £763,540 (2024: £787,826).
The group is trading well and based on this, the group has performed an assessment of the most likely future cashflows based on the latest available information and concluded that in the scenario, the group would have sufficient available cashflows to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements.
The parent company has net current liabilities of £2,970,761 (2024: £2,949,592), net assets of £628,408 (2024: £640,233), and has reported a profit for the year of £221,575 (2024: loss of £79).
The parent company has issued a letter of support for a period of twelve months from the date of approval of these financial statements to a subsidiary undertaking which includes both making funds available if required and confirmation that it will not seek repayment of amounts due at the balance sheet date if this would be detrimental to the parent company.
Having considered all of the above, the directors consider it appropriate to prepare the group and parent company financial statements on a going concern basis.
On behalf of the board
The directors present their annual report and financial statements for the period ended 24 September 2025.
The results for the period are set out on page 9.
Ordinary dividends were paid amounting to £233,400. The directors do not recommend payment of a further dividend.
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
Financial risk management objectives and policies
The group's operations expose it to a variety of financial risks that principally include the effects of changes in price risk, credit risk, liquidity risk and interest rate risk. The group has a risk management programme in place that seeks to limit the adverse effects on the financial performance of the group of all identified risks.
Price risk
The group is exposed to commodity price risk as a result of its operations. However given the size of the group's operations, the cost of managing exposure through the use of hedging instruments to commodity price risk exceed any potential benefits.
Credit risk
As the group trades direct with consumers and doesn't provide credit, the group isn't exposed to credit risk. The directors actively reconcile intercompany loans to mitigate any potential default risk.
Liquidity risk
The group currently has no requirement for further debt finance. When the group has a requirement for funds for operations and planned expansions then this is supported by available group resources.
Interest rate cash flow risk
The group has interest bearing liabilities, however these are at fixed rates with the exception of a small balance of bounce back loan. Given the size of the bounce back loan, the risk is minimal and requires no further mitigation. The directors review policies as and when the need arises.
The auditor, DSG, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
United Kingdom company law requires the directors to prepare financial statements for each financial period. Under that law, the directors have elected to prepare 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 United Kingdom 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.
We have audited the financial statements of TD4 Brands Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 24 September 2025 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, 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).
Basis for 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
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial period 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.
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.
Discussions were held with, and enquiries made of, management and those charged with governance 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 group and the parent company.
The following laws and regulations were identified as being of significance to the group and the parent company:
Those laws and regulations considered to have a direct effect on the financial statements which include 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 group and parent company and therefore may have a material effect on the financial statements which include general food safety and food hygiene standards established by The Food Standards Agency (FSA). It is considered that there are no laws and regulations that are fundamental to the operating aspects of the parent company.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the group and the parent company complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures 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 group's and the parent company'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.
There was no other comprehensive income for the period (2024: £nil).
Total comprehensive income for the period is attributable to the owners of the parent company.
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the period was £221,575 (2024: £79 loss).
TD4 Brands Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Abbots Moss Hall, Oakmere, Cheshire, CW8 2ES. The nature of the group's operations and its principal activity is given in the strategic report.
The group consists of TD4 Brands Limited and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company TD4 Brands Limited together with all entities controlled by the parent company (its subsidiaries).
All financial statements are made up to 24 September 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 group.
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.
The group has net current assets of £242,119 (2024: £188,073), net assets of £444,245 (2024: net liabilities of £85,895), and has reported a retained profit for the year of £763,540 (2024: £787,826).
The group is trading well and based on this, the group has performed an assessment of the most likely future cashflows based on the latest available information and concluded that in the scenario, the group would have sufficient available cashflows to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements.
The parent company has net current liabilities of £2,970,761 (2024: £2,949,592), net assets of £628,408 (2024: £640,233), and has reported a profit for the year of £221,575 (2024: £79 loss).
The parent company has issued a letter of support for a period of twelve months from the date of approval of these financial statements to a subsidiary undertaking which includes both making funds available if required and confirmation that it will not seek repayment of amounts due at the balance sheet date if this would be detrimental to the parent company.
Having considered all of the above, the directors consider it appropriate to prepare the group and parent company financial statements on a going concern basis.
The annual financial statements are compiled for the period to 24 September 2025, being the closest Wednesday to the 30 September 2025 accounting reference date. The prior period financial statements are compiled for the period to 25 September 2024, being the closest Wednesday to the 30 September 2024 accounting reference date.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the group has transferred the significant risks and rewards of ownership to the buyer;
the group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
In the parent company financial statements, investments in subsidiaries 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.
At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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 statement of financial position 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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.
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.
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.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
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.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 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.
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.
Termination benefits are recognised immediately as an expense when the group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.
The contributions are recognised as an expense in the consolidated statement of comprehensive income when they fall due. Amounts not paid are shown in other creditors as a liability in the statement of financial position. The assets of the plan are held separately from the group in independently administered funds.
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 leased asset are consumed.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Interest income and costs
Interest income is recognised in profit or loss using the effective interest method.
Interest costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Onerous lease
Where the unavoidable costs of a lease exceed the economic benefit expected to be received from it, a provision is made for the present value of the obligations under the lease. This is released over the remaining lease term.
Exceptional items
Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial performance of the company. They are material items of income or expenditure which are of exceptional size or incidence, and are presented within the line items to which they best relate.
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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Determining whether leases have been entered into by the group either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
Determining whether there are indicators of impairment of the group's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
When an indication of impairment exists, the directors will carry out an impairment review to determine the recoverable amount, being the higher of fair value less cost to sell and value in use. The value in use calculation requires the directors to estimate the future cash flows expected to arise from the asset or the cash generating unit and a suitable discount rate in order to calculate present value.
Determining whether any of the group's store leases have become onerous based on the expected future financial performance of the asset.
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.
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
The most critical estimates, assumptions and judgements relate to the determination of the carrying value of investments. The nature, facts and circumstance of the investment and future performance are taken into consideration when assessing the carrying value.
An assessment is made to determine whether the unavoidable costs associated with a lease exceed the economic benefit expected to be received from it. If this is the case, a provision is made for the present value of the obligations under the lease.
Turnover is wholly attributable to the principal activity of the group and arises solely within the United Kingdom.
Exceptional items in the current period relate to an onerous lease provision and movements in the dilapidation provision. In the prior period exceptional items related to a dilapidation provision for certain subsidiary undertakings.
In the current and prior period, audit remuneration for the group was borne by a subsidiary undertaking, Boost Juice Bars (UK) Limited.
The average monthly number of persons (including directors) employed by the group and company during the period was:
Their aggregate remuneration comprised:
As total directors' remuneration was less than £200,000 in the current and prior period, no disclosure is provided.
The above costs were borne by Boost Juice Bars (UK) Limited, a subsidiary undertaking of TD4 Brands Limited.
The tax assessed for the period is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25% (2024: 25%).
The actual charge/(credit) for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:
Assets within subsidiary undertaking, TD4 Milkshakes Limited, with a net book value of £1,313, were transferred to Boost Juice Bars (UK) Limited during the period. These assets from computer equipment were initially purchased by TD4 Milkshakes Limited, and have now been transferred to Boost Juice Bars (UK) Limited to be utilised in one of their stores.
Details of the company's subsidiaries at 24 September 2025 are as follows:
The registered office addresses of the above named subsidiaries are the same as that of the parent company as given on the company information page.
Amounts owed to group undertakings are due on demand and interest free.
Bank loans - the Bounce Back loan of £10,833 with Barclays Bank Plc was first drawn down on 9 October 2020 and repayments commenced on 9 November 2021, with the final repayment falling due in October 2026. The UK Government met the interest due under this loan for the first 12 months. Thereafter, interest accrues at 2.5% per annum, fixed for the duration of the loan.
Other borrowings - the subsidiary undertaking Boost Juice Bars (UK) Limited entered into loan agreements totalling £1,566,615 in 2022 with facilities expiring in March 2026 and May 2028, with amounts outstanding of £78,877 (2024: £259,125) and £508,350 (2024: £626,753), respectively, at the period end. The loans bear interest at 7% and 3.04% per annum with capital and interest paid on a monthly basis. The total interest cost in the period was £30,132 (2024: £45,505). The loans are guaranteed by the parent company, TD4 Brands Limited, and fellow subsidiary undertaking, TD4 Milkshakes Limited.
The dilapidation provision covers expected dilapidation costs to restore the leased stores to the condition and design existing prior to the group's tenancy of each store. The unwind of the provision will be dependent on the directors' decision about when a store may be vacated.
The onerous lease provision represents the unavoidable costs of meeting the lease obligations in excess of the economic benefits expected to be received from the leased property. The provision is measured as the lower of the costs of fulfilling the lease and any penalties arising from early termination.
The following are the major deferred tax liabilities recognised by the group and company, and movements thereon:
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. Contributions amounting to £8,366 (2024: £10,121) were payable by the group to the fund at the reporting date and are including in creditors.
The holders of Ordinary shares as a class are non-redeemable and are entitled to one vote in any circumstances. Each Ordinary share is entitled to parri passu to participate in a distribution of dividend payments. The Ordinary shares shall rank after the Ordinary C Shares on capital distribution.
The holders of Ordinary C shares as a class shall not be entitled to a vote and have no right to income or distributions. On a return of capital on liquidation or capital reduction or otherwise Ordinary C shareholders will receive priority.
The holders of Ordinary D shares as a class are irredeemable and have full rights in the company with regards to voting, dividend and capital distribution. A dividend may be declared on this class of shares to the exclusion of other classes but where a dividend is declared on more than one class of shares the dividend for each class may be fixed individually.
The group's and parent company's capital and reserves are as follows:
Called up share capital
Called up share capital reserve represents the nominal value of the shares issued.
Share premium
The share premium account includes the premium on the issue of the equity shares, net of any issue costs.
Profit and loss account
The profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments.
Capital redemption reserve
The capital redemption reserve relates to own shares arising in the connection of shares which have been bought or sold by the company. On 23 March 2023 by way of written resolution of the company, the capital redemption reserve was cancelled, and the amount of the capital redemption reserve was credited to the distributable reserves of the company.
Boost Juice Bars (UK) Limited and TD4 Milkshakes Limited have granted a charge to BGF Nominees Limited to secure a guarantee in respect of borrowings owed to BGF Nominees Limited due from the companies, and other group undertaking TD4 Cookies Limited.
Boost Juice Bars (UK) Limited has granted a charge, in the form of a rent deposit deed of £19,500, to Stratford City Developments Limited as Trustee for and on Behalf of Stratford City Shopping Centre (No.1) Limited Partnership.
Boost Juice Bars (UK) Limited has granted a charge, in the form of a rent deposit deed of £23,499, to Commerz Real Investmentgesellschaft Mbh.
Boost Juice Bars (UK) Limited has granted a charge, in the form of a rent deposit deed of £23,500, to CSC Lakeside Limited.
Boost Juice Bars (UK) Limited has granted a charge, in the form of a rent deposit deed of £6,250, to Network Rail Infrastructure Limited.
Boost Juice Bars (UK) Limited has granted a charge, in the form of a rent deposit deed, to VCP Nominees No.1 Limited and VCP Nominees No.2 Limited. The amount secured is all the monies due or to become due from Boost Juice Bars (UK) Limited to the Chargee under the terms of the aforementioned instrument creating or evidencing the charge.
The directors' confirm that there are no other commitments, guarantees, or contingent liabilities as at 24 September 2025.
Amounts contracted for but not provided in the financial statements:
On 11 March 2026, subsequent to the reporting date, the company reorganised its share capital such that 4,500 ordinary shares were re-designated into 2,250 ordinary E shares and 2,250 ordinary F shares. This re-designation was to facilitate the change in ultimate controlling party as explained in note 29.
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:
The registered office address of the ultimate parent company is Abbots Moss Hall, Oakmere, Cheshire, CW8 2ES.
The consolidated financial statements of the smallest and largest group of the company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling party is H A O’Sullivan.
Included within other debtors are amounts due from a company with common directors and shareholders of £nil (2024: £248,031).
The key management personnel and directors are the same and the directors' remuneration for the year is disclosed in note 6 to the financial statements. Therefore, the group has taken advantage of the exemption conferred by Section 33.7A of FRS102 not to disclose key management personnel.