REGISTERED NUMBER: 01481551 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 30TH DECEMBER 2024 TO 28TH DECEMBER 2025

FOR

B.J.R. FOODS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

Mr Z Abbasi

Mr I Suleman

REGISTERED OFFICE:

Suite 201 Churchill House

120 Bunns Lane

London

NW7 2AS

REGISTERED NUMBER:

01481551 (England and Wales)

AUDITORS:

PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

The directors present their strategic report for the period 30th December 2024 to 28th December 2025.

BUSINESS REVIEW

Turnover increased by 6.45% in the period to £43,673,265 (2024: £41,027,408).

Results and KPIs:

2025

2024

£

£

Turnover

43,673,265

41,027,408

Gross Profit

11,654,447

10,471,254

Profit/(loss) after tax for the financial period

559,140

169,185

Earnings before interest, taxes depreciation and amortisation (EBITDA) before group management recharges

3,164,473

2,760,370

Amortisation and depreciation costs (including disposal profit/loss)

1,707,392

1,805,827

The increase in turnover is primarily due to price increases during the period and additional sales from two new restaurants.

The directors consider the results for the year to be satisfactory.

The directors consider staff numbers and their performance to be the key non-financial indicators, in particular staff retention and turnover levels are monitored. The directors also monitor stock control and waste management as key performance indicators and are continuously looking to improve in these areas based upon the findings.

The directors do not consider that any further analysis using non financial key performance indicators, including those relating to environmental matters is necessary for an understanding of the performance and position of the business of the company.

Despite the current adverse economic conditions including inflationary pressures, it is still anticipated that the company will continue to achieve positive EBITDA in 2026.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risk to the company, which is common to all companies in the industry, is change to short-term consumer habits. Both Kentucky Fried Chicken and the company monitor this and maintain a marketing policy with a view to smoothing these fluctuations.

Financial Instruments

The company's treasury activities are operated within policies and procedures approved by the Board, which include defined controls on the use of financial instruments managing the company's risks.

Liquidity Risk

The company finances its operations through a mixture of retained profits and cash. The company monitors its cash balance on a regular basis to ensure that all foreseeable future needs can be met from available resources.

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

The business reports an annual kWh usage of over 6.6m for the period ended in December 2025 (2024 - over 6.8m) as detailed below:

Period ended

Period ended

29 December 2025

24 December 2024

Energy consumption used to calculate emissions (kWh)

6,624,254

6,813,866

Energy consumption break down (kWh):

- Gas (Scope 1)

1,426,823

1,589,012

- Electricity (Scope 2)

5,153,232

5,157,124

- Transport Fuel (Scope 1 - Company Cars)

44,200

67,730

Scope 1 emissions in tonnes CO2e

- Gas

261

325

- Transport Fuel (Company Cars)

8

17

Scope 2 emissions in tonnes CO2e

- Electricity

912

1,068

Scope 3 emissions in tonnes CO2e

0

0

Total gross emissions in tonnes CO2e

1,181

1,410

Intensity ratio kg CO2e / million GBP turnover

0.027

0.034

-

The methodology used follows best practise and is based on HM Government Environmental Reporting Guidelines March 2019.

-

For December 2025 and 2024, all emissions factors are taken from UK Government GHG Conversion Factors for Company Reporting, 2025 factors.

-

Scope 1 (natural gas) and Scope 2 consumption data (electricity) was taken from validated and verified Utility Suppliers invoices.

-

Scope 1 (Company cars) mileage data was taken from internal records/logs.

-

Due to the nature of the business, the most applicable normalisation parameter relating to carbon emissions is 'annual turnover'. Therefore, the intensity ratio for B.J.R. Foods Ltd is kilograms of CO2e per million GBP turnover.

No energy efficiency measures were carried out during the period ended 28 December 2025; however, plans are currently being agreed moving forward.

ON BEHALF OF THE BOARD:

Mr Z Abbasi - Director

10th September 2026

The directors present their report with the financial statements of the company for the period 30th December 2024 to 28th December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the retail of Kentucky Fried Chicken and its associated products.

DIVIDENDS

There were no dividends paid during the year.

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 30th December 2024 to the date of this report.

Mr Z Abbasi

Mr I Suleman

ENGAGEMENT WITH EMPLOYEES

The Company maintains procedures for the dissemination of information of particular concern to employees and for receiving their views on important matters of policy.

DISABLED EMPLOYEES

The Company accepts, for equal consideration, applications for employment from disabled persons and accordingly the employment of disabled persons is entirely dependent upon their experience, capability and suitability for the particular vacancy. Once employed by the Company, disabled persons have the same rights, entitlements and opportunities as any other member of staff, including training, career development and promotions.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 elected to prepare the 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 company and of the profit or loss of the company 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;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, PSJ Alexander & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr Z Abbasi - Director

10th September 2026

Opinion

We have audited the financial statements of B.J.R. Foods Limited (the 'company') for the period ended 28th December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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 company's affairs as at 28th December 2025 and of its profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors 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:

-

we reviewed the financial statement disclosures and tested to supporting documentation to assess compliance with provisions of relevant laws and regulations that have a direct effect on the financial statements;

-

we enquired with the management team concerning actual and potential litigation and claims;

-

we performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

we read minutes of meetings of those charged with governance;

-

we obtained an understanding of any provisions and held discussions with management to understand the basis of recognition or non-recognition of tax provisions/assets; and

-

we addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Vimal Shah (Senior Statutory Auditor)

for and on behalf of PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

10th September 2026

TURNOVER

3

43,673,265

41,027,408

Cost of sales

32,018,818

30,556,154

GROSS PROFIT

11,654,447

10,471,254

Administrative expenses

10,749,522

10,057,948

904,925

413,306

Other operating income

22,156

21,237

OPERATING PROFIT and

PROFIT BEFORE TAXATION

927,081

434,543

Tax on profit

6

367,941

265,358

PROFIT FOR THE FINANCIAL PERIOD

559,140

169,185

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

559,140

169,185

FIXED ASSETS

Intangible assets

8

368,485

477,207

Tangible assets

9

4,726,961

4,146,583

5,095,446

4,623,790

CURRENT ASSETS

Stocks

10

323,772

299,025

Debtors

11

4,652,262

3,381,507

Cash at bank and in hand

2,898,295

4,391,023

7,874,329

8,071,555

CREDITORS

Amounts falling due within one year

12

4,693,728

5,314,639

NET CURRENT ASSETS

3,180,601

2,756,916

TOTAL ASSETS LESS CURRENT LIABILITIES

8,276,047

7,380,706

PROVISIONS FOR LIABILITIES

14

1,315,000

978,799

NET ASSETS

6,961,047

6,401,907

CAPITAL AND RESERVES

Called up share capital

15

28,100

28,100

Share premium

16

156,888

156,888

Retained earnings

16

6,776,059

6,216,919

SHAREHOLDERS' FUNDS

6,961,047

6,401,907

The financial statements were approved by the Board of Directors and authorised for issue on 10th September 2026 and were signed on its behalf by:

Mr Z Abbasi - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 25th December 2023

28,100

7,247,734

156,888

7,432,722

Changes in equity

Dividends

-

(1,200,000

)

-

(1,200,000

)

Total comprehensive income

-

169,185

-

169,185

Balance at 29th December 2024

28,100

6,216,919

156,888

6,401,907

Changes in equity

Total comprehensive income

-

559,140

-

559,140

Balance at 28th December 2025

28,100

6,776,059

156,888

6,961,047

1.	STATUTORY INFORMATION

B.J.R. Foods Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01481551 and registered office address is Suite 201 Churchill House, 120 Bunns Lane, London NW7 2AS, United Kingdom.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The Company made net profit after taxes amounting to £559,140 (2024: £169,185) and had net current assets of £3,180,601 (2024: £2,756,916), net assets of £6,961,047 (2024: £6,401,907) and bank balances of £2,898,295 (2024: £4,391,023).The Company has no external debts owed to third party lenders. The directors have assessed the going concern risks to the Company and have concluded that financial projections indicate that the Company will continue to meet its liabilities as they fall due over the next twelve months from the date of approval of these financial statements.

Based on these indications, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the basis of preparation being inappropriate.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the reporting period. Actual outcomes may differ from these judgements, estimates and assumptions.

The judgements, estimates and assumptions that have the most significant effect on the carrying value of assets and liabilities of the Company as at the balance sheet date are discussed below.

- Estimation of useful economic lives of tangible fixed assets

Tangible fixed assets represent a significant proportion of the asset base of the Company. Therefore, the estimates and assumptions made to determine their carrying values and related depreciation are critical to the Company's financial position and performance.

The charge in respect of periodic depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. Increasing an asset's expected life or its residual value would result in a reduced depreciation charge in the Income Statement.

The useful lives of assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology.

- Provisions for dilapidation and reinstatement costs

The Company recognises provisions for dilapidation and reinstatement costs when it has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The Company's obligation for dilapidation and reinstatement is significantly influenced by: (i) the franchise requirement to undertake major refurbishment every 10 years; and (ii) the economic performance of individual restaurants.

For profitable restaurants where continuation of operations is expected, the 10-year refurbishment cycle generally satisfies much of the restoration work that would otherwise be required at lease termination. In these cases, refurbishment expenditure is capitalised as part of the restaurant assets and depreciated over the expected useful life, and a reduced or nil dilapidation provision may be appropriate.

For underperforming or loss-making restaurants where closure is considered likely prior or close to the lease expiry, a full dilapidation and reinstatement provision is recognised to reflect the estimated costs of returning the premises to the condition required under the lease terms.

These provisions are measured at the best estimate of the expenditure required to settle the obligation at the reporting date, taking into account the specific refurbishment history of each location and the likelihood of lease renewal or early termination. Where the effect of the time value of money is material, the amount of the provision is the present value of the expenditures expected to be required to settle the obligation, using a discount rate that reflects current market assessments of the time value of money and the risks specific to the liability.

The determination of whether a dilapidation provision is required, and if so, its amount, represents a key source of estimation uncertainty. Management's assessment includes consideration of:

- individual restaurant performance metrics and forecasts;

- the timing of the next scheduled refurbishment within the 10-year cycle;

- the extent to which planned refurbishments would satisfy lease-end restoration requirements;

- the remaining lease term and renewal options; and

- historical costs of both refurbishments and full site restorations.

The carrying amount of any provision is reviewed at each reporting date and adjusted to reflect management's current best estimate. Estimates are based on the Company's historical experience of restaurant refurbishments and closures and, where appropriate, reports from independent quantity surveyors. Changes in provisions are recognised in profit or loss for the period, except where they relate to the initial recognition of a related asset, in which case they are added to the carrying amount of the asset and depreciated over its useful life or the remaining lease term, whichever is shorter.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebated value added tax and other sales taxes. The turnover is recognised on the date that the KFC orders are placed, which is in all cases also the date when the KFC products are delivered to the customers.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its remaining estimated useful life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licence fees are amortised evenly over the term of the licences.

Lease premiums are amortised evenly over the term of the leases.

Transfer fees are amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

at varying rates

Stocks

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

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions for dilapidation and reinstatement costs in respect to leased properties are recognised when the Company has a legal or constructive obligation as a result of past events; it is more likely than not that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount can be made.

The carrying amount of any provision is reviewed at each reporting date and adjusted to reflect management's current best estimate. Estimates are based on the Company's historical experience of restaurant refurbishments and closures and, where appropriate, reports from independent quantity surveyors. Changes in provisions are recognised in profit or loss for the period, except where they relate to the initial recognition of a related asset, in which case they are added to the carrying amount of the asset and depreciated over its useful life or the remaining lease term, whichever is shorter.

3.

TURNOVER

The whole of the turnover is attributable to one class of business.

All turnover arose within the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

£

£

Wages and salaries

11,295,585

10,429,416

Social security costs

936,528

618,758

Other pension costs

226,579

166,993

12,458,692

11,215,167

The average number of employees during the period was as follows:

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

Shop staff

647

622

Administration staff

52

52

699

674

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

£

£

Directors' remuneration

-

-

Directors' services were provided by the parent undertaking, 1st Rate Investment (UK) Limited during the current period.

5.	OPERATING PROFIT

The operating profit is stated after charging:

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

£

£

Other operating leases

1,393,401

1,397,635

Depreciation - owned assets

1,423,208

1,318,590

Loss on disposal of fixed assets

112,144

77,506

Goodwill amortisation

91,571

297,614

Licence fees amortisation

80,468

95,711

Lease premiums amortisation

-

16,405

Auditors remuneration

38,785

41,769

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

£

£

Current tax:

UK corporation tax

3,940

113,358

Deferred taxation

364,001

152,000

Tax on profit

367,941

265,358

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

£

£

Profit before tax

927,081

434,543

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

231,770

108,636

Effects of:

Expenses not deductible for tax purposes

31,060

81,449

Capital allowances in excess of depreciation

-

(3,770

)

Depreciation in excess of capital allowances

27,256

-

Utilisation of tax losses

(22,632

)

(72,851

)

Adjustments to tax charge in respect of previous periods

(263,514

)

(106

)

Deferred tax

364,001

152,000

Total tax charge

367,941

265,358

7.

DIVIDENDS

Period

Period

30/12/24

25/12/23

to

to

28/12/25

29/12/24

£

£

Ordinary shares of 1 each

Interim

-

1,200,000

8.	INTANGIBLE FIXED ASSETS

Licence

Lease

Goodwill

fees

premiums

Totals

£

£

£

£

COST

At 30th December 2024

9,521,988

706,649

66,404

10,295,041

Additions

-

96,918

-

96,918

Disposals

(939,080

)

(23,870

)

-

(962,950

)

Impairments

(970,005

)

(23,870

)

-

(993,875

)

At 28th December 2025

7,612,903

755,827

66,404

8,435,134

AMORTISATION

At 30th December 2024

9,430,417

321,013

66,404

9,817,834

Amortisation for period

91,571

80,468

-

172,039

Eliminated on disposal

(939,080

)

(5,876

)

-

(944,956

)

Impairments

(970,005

)

(8,263

)

-

(978,268

)

At 28th December 2025

7,612,903

387,342

66,404

8,066,649

NET BOOK VALUE

At 28th December 2025

-

368,485

-

368,485

At 29th December 2024

91,571

385,636

-

477,207

9.	TANGIBLE FIXED ASSETS

Assets

Plant and

Motor

under

machinery

vehicles

Construction

Totals

£

£

£

£

COST

At 30th December 2024

10,273,020

83,000

32,429

10,388,449

Additions

1,418,379

-

688,404

2,106,783

Disposals

(407,299

)

-

-

(407,299

)

Impairments

(123,950

)

-

-

(123,950

)

Transfer to ownership

720,833

-

(720,833

)

-

At 28th December 2025

11,880,983

83,000

-

11,963,983

DEPRECIATION

At 30th December 2024

6,233,674

8,192

-

6,241,866

Charge for period

1,396,482

26,726

-

1,423,208

Eliminated on disposal

(341,948

)

-

-

(341,948

)

Impairments

(86,104

)

-

-

(86,104

)

At 28th December 2025

7,202,104

34,918

-

7,237,022

NET BOOK VALUE

At 28th December 2025

4,678,879

48,082

-

4,726,961

At 29th December 2024

4,039,346

74,808

32,429

4,146,583

10.

STOCKS

2025

2024

£

£

Raw materials

323,772

299,025

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

7,587

3,446

Amounts owed by group undertakings

4,203,189

3,042,912

Other debtors

28,313

12,158

Taxation

98,127

-

Prepayments

315,046

322,991

4,652,262

3,381,507

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,112,293

2,818,627

Taxation

215,531

113,464

Social security and other taxes

197,015

162,239

VAT

1,174,966

1,244,306

Other creditors

511,159

432,130

Accrued expenses

482,764

543,873

4,693,728

5,314,639

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

1,347,952

1,239,380

Between one and five years

4,491,011

3,971,491

In more than five years

7,011,472

4,427,713

12,850,435

9,638,584