REGISTERED NUMBER: NI032136 (Northern Ireland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

PIZZA HUT (IRELAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

E S Johnston

Mrs L H Johnston

D J Ross

C Johnston

SECRETARY:

D J Ross

REGISTERED OFFICE:

18 Orby Link

Belfast

BT5 5HW

REGISTERED NUMBER:

NI032136 (Northern Ireland)

AUDITORS:

Baker Tilly Mooney Moore

Statutory Auditors

17 Clarendon Road

Belfast

BT1 3BG

BANKERS:

Bank of Ireland

1 Donegall Square South

Belfast

BT1 5LR

SOLICITORS:

John McKee

32-38 Linenhall Street

Belfast

BT2 8BG

FIXED ASSETS

Investment property

5

2,700,000

2,485,000

CURRENT ASSETS

Debtors

6

47,692

134,013

Cash at bank

282,844

314,171

330,536

448,184

CREDITORS

Amounts falling due within one year

7

2,170,541

2,076,245

NET CURRENT LIABILITIES

(1,840,005

)

(1,628,061

)

TOTAL ASSETS LESS CURRENT LIABILITIES

859,995

856,939

CREDITORS

Amounts falling due after more than one year

8

651,690

704,217

NET ASSETS

208,305

152,722

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

207,305

151,722

208,305

152,722

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2026 and were signed on its behalf by:

E S Johnston - Director

1.	STATUTORY INFORMATION

Pizza Hut (Ireland) Limited is a private company, limited by shares, registered in the United Kingdom The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on a going concern basis.

The company made a profit before tax in year of £384,908 and at year end had net current liabilities of £1,840,005. The company owes fellow subsidiary's an amount of £2,009,912 and the fellow subsidiaries have confirmed they will not recall this balance to such times as the company has adequate resources to repay the balance.

Taking all factors into consideration the directors are of the opinion that it is appropriate that the financial statements are prepared on a going concern basis.

Significant judgements and estimates

Establishing fair value of investment property

Investment properties are initially measured at cost, comprising the purchase price and any directly attributable expenditure, and are subsequently remeasured to fair value at each reporting date with changes in fair value recognised in profit or loss. When the fair value of investment properties cannot be measured based on the price of a recent transaction for an identical asset, their fair value is measured using valuation techniques and models. The inputs to these models are taken from observable markets where possible, but where this is not feasible a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as market rent, vacancy rate, yield requirement and inflation. Changes in assumptions about these factors could effect the reported fair value of investment properties.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of fixed assets

Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Fixed assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

2,485,000

Revaluations

215,000

At 30 November 2025

2,700,000

NET BOOK VALUE

At 30 November 2025

2,700,000

At 30 November 2024

2,485,000

The investment properties were valued by Osbourne King in FY24 on an open market value for existing use basis. The directors have considered the valuation of the investment property as at 30 November 2025 and consider it appropriate to revalue the investment property upwards of £215k.

Fair value at 30 November 2025 is represented by:

£

Valuation in 2024

2,700,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Amounts owed by group undertakings

-

67,007

Amounts owed by participating interests

-

25,000

Other debtors

47,692

42,006

47,692

134,013

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

46,104

42,489

Trade creditors

15,524

1,365

Amounts owed to group undertakings

2,009,912

1,901,919

Taxation and social security

9,910

34,240

Other creditors

89,091

96,232

2,170,541

2,076,245

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans

651,690

704,217

The bank loan is secured by a mortgage over the investment properties, a debenture cross guarantee and Deed of subordination. The company's loan is supported by the ultimate parent company McLegz Holdings Limited.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Eimear Brown (Senior Statutory Auditor)

for and on behalf of Baker Tilly Mooney Moore

10.	RELATED PARTY DISCLOSURES

The company had no other related party transactions which are required to be disclosed in accordance with FRS 102 Section 1A.

11.	ULTIMATE CONTROLLING PARTY