REGISTERED NUMBER: 04331680 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MCLEAN RESTAURANTS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

6

Streamlined Energy and Carbon Report forming part of the Report of the Director

9

Report of the Independent Auditors

11

Statement of Income and Retained Earnings

15

Statement of Financial Position

16

Statement of Cash Flows

17

Notes to the Statement of Cash Flows

18

Notes to the Financial Statements

19

DIRECTOR:

Mrs S J Mclean

SECRETARY:

N Mclean

REGISTERED OFFICE:

20 Queens Road

Nuneaton

Warwickshire

CV11 5JW

REGISTERED NUMBER:

04331680 (England and Wales)

AUDITORS:

Manex Accountants Limited

Chartered Accountants &

Registered Auditors

No 9, Castle Court 2

Castlegate Way

Dudley

West Midlands

DY1 4RH

BANKERS:

HSBC Bank plc

Birmingham New Street

PO Box 68

130 New Street

Birmingham

The director presents her strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The director aims to present members with a fair review of the development and performance of the company during the year and its position at the year end. This review is consistent with the size and nature of the company and is written in the context of the risks and uncertainties it faces. The review will also include an assessment of likely future developments.

The company operates twenty-seven McDonald's restaurant franchises in the United Kingdom. Its principal activity is the operation and management of quick service restaurants under the McDonald's brand, with revenue generated primarily from food and beverage sales through dine-in, takeaway, drive-thru, digital ordering and delivery channels. During the year, the company acquired six restaurants.

The profit for the year, before taxation, amounted to £4,026,879. This compares to a profit before tax of £3,455,084 in the previous year. Sales increased by 11.05%, from £109.22m to £121.29m. Gross profit as a percentage of sales increased by 0.61% from 39.53% to 40.14%. The director is pleased to report the profitability of the business. The company has positive cashflows and the balance sheet shows net assets of £6,057,816, reflecting the solid position of the company from a solvency and liquidity perspective. The strong balance sheet provides a foundation on which the company can continue to grow.

The company continued to operate against the backdrop of significant macro-economic challenges. Despite the inflationary pressures, impacting food, paper and utility costs, the financial performance of the company was profitable.

The re-imaging strategy continued to have a positive impact on sales, which is in line with the directors' expectations and objectives. The IRLX redesign was carried out at our King's Norton restaurant during the year. We now have a more contemporary dining area, a brand-new outdoor seating area, and separate facilities for our dine-in customers and our couriers - leading to a better experience for everyone. We are constantly elevating our digital experiences, with the "Grinched deals" and "Side missions" promotions offered via the mobile app in 2025. We have innovated our menu and delivered great value during the year. The company will continue to push digital and delivery offerings. Providing our customers with affordable options has always been core to our brand, and we continue to evolve our value offerings to meet our customer's needs.

Given the straightforward nature of the business, the director is of the opinion that analysis using additional KPI's is not necessary for an understanding of the development, performance, or position of the company.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the company and the nature of its trading strategy are subject to several risks, which are set out below. The company operates a thorough risk assessment and management process which involves a formal review of all the risks identified below and introducing processes to monitor and mitigate each risk, where possible.

The company operates in a highly competitive market with high levels of price sensitivity. Consumer behaviour can impact the company's turnover and profitability. The company mitigates this risk by adopting a policy of constantly assessing its pricing strategy with ongoing market research.

The company remains exposed to periods of general inflation and food cost inflation together with the variability of commodity prices, which impact on the company's profitability. The company continually assesses any risks identified with the aim of mitigating the threats these may have on the company's operations and profitability. The company's supply chain is closely maintained by McDonald's, who are therefore able to negotiate effectively on behalf of franchisees to ensure better purchasing terms. This helps as much as possible to protect the company from risks associated with fluctuating food costs.

Any material changes in the way the consumer views the fast-food industry could have an adverse effect on the company. However, this can also work in the opposite direction and could assist the company to achieve growth. As a result, the company focuses, in detail, on recognising demographic trends, ensuring innovation and the use of the freshest and highest quality products throughout our stores. The company has strict policies to ensure that all stores are maintaining the McDonald's ethos.

The company is also inherently exposed to pressures within the labour market and to wage cost inflation. Recent changes to the national minimum wage and national living wage have contributed towards the increase in wage costs. The company mitigates this risk by a policy of adopting remuneration and benefits packages designed to be competitive within the market as well as ensuring full compliance with labour market regulations, with employment policies to allow fulfilling career opportunities for all employees.

The company's operations demand a high level of compliance within a wide range of regulatory requirements including hygiene, licensing, and employment law. These areas are closely monitored by McDonald's to ensure the company is compliant.

The fast-food market is extremely competitive, with a high number of competitors competing in the sector. To remain a market leader, McDonald's have dedicated teams who focus on ensuring the brand remains a leading brand in the market.

SECTION 172(1) STATEMENT

The director believes they have acted in a way they consider in good faith and to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1) (a-f) of the Companies Act).

The success of the Company is the driving factor behind all decisions made by the Director. Decision making processes are structured to enable the Director to evaluate the merit of proposed business activities and the likely consequences of its decisions over the short, medium, and long term.

Our people are key to our success. That is why we work hard to create jobs and opportunities for all our people, regardless of gender, age, or life stage. Understanding how our people feel about McDonald's is vital. It helps us ensure that we are giving them the right support to achieve their potential and to serve our customers well. We undertake quarterly surveys with all restaurant crew and managers to drive the conversation about how they feel at work. We also conduct regular "Love to Listen" surveys to check how satisfied our employees are with their jobs.

Our customers are the reason for our existence, and we therefore strive to provide high quality food with superior service in a clean and welcoming environment, at a great value. Customers can get in touch to share their thoughts through our social media platforms and communication portals. We prioritise listening to our customers' feedback, valuing their input through satisfaction surveys, and continuously striving to enhance our offerings based on their insights.

Long-term commitments with our suppliers have enabled them to grow with us and drive positive change within their own businesses. The company recognises that relationships with suppliers are important to its long-term success and is briefed on supplier feedback and issues on a regular basis.

The director carefully considers the impact of the business on communities and the environments in which the company operates. We support our local communities and make charitable contributions to the Ronald McDonald House Charities UK. We collect litter dropped in the local area around our restaurants. Recycling units are installed around our restaurants, and our paper cups are sent to specialist recycling centres in the UK. We are removing or reducing plastic use by redesigning items such as switching to paper-based straws, deploying new McFlurry cups without plastic lids, and introducing salad boxes and cutlery made from renewable fiber. Our cooking oil is also recycled to convert it to biodiesel for our delivery trucks. We are aware of our responsibility in this area, and 2026 will see the introduction of more initiatives.

In all our activities the director requires that our employees and suppliers conduct business with the highest ethical and professional standards by adhering to our Standards of Business Conduct set by McDonald's Corporation.

FINANCIAL RISK MANAGEMENT AND POLICIES

The company's principal financial instruments comprise bank balances, loans to the company, and trade creditors. The main purpose of these instruments is to provide funds for the company's operations. Their existence exposes the company to several financial risks, which have been considered and are managed as follows:

Liquidity risk: Liquidity risk is the risk that the company will have insufficient resources to meet its financial liabilities as they fall due. The company's strategy to managing liquidity risk is to ensure that the company has sufficient funds to meet all its potential liabilities as they fall due. In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility using overdraft facilities at floating rates of interest. In respect of bank loans, although the interest rates are variable, monthly repayments are fixed. The liquidity risk is therefore managed by ensuring there are sufficient funds available to meet the monthly repayments. In respect of trade creditors, the liquidity risk is managed by ensuring sufficient funds are available to meet amounts due for payment.

Operational risk: Operational risk is the risk of a direct or indirect loss resulting from the inadequacies or failures of processes or controls due to technology, staff, organisation, or external factors. To monitor and control operational risk, the company maintains a system of comprehensive policies and a control framework which is designed to provide and sound and well-controlled operational environment.

Interest rate risk: Interest rate risk is the risk that financial performance of the company will be adversely affected by adverse fluctuations on interest rates being charged to the company on its financial instruments, most noticeably bank loans and its bank overdraft facility. The interest rate risk is managed by the on-going monitoring and assessment of its borrowings and the interest rate charged.

Price risk: Price risk is the risk that financial performance of the company will be adversely affected by pricing charges. Due to the nature of the financial instruments used by the company, there is no exposure to price risk. The company sets its own prices within allowable variations. Cash flow and liquidity exposure are therefore directly related to prices and turnover.

Other areas of risk include health and safety and food hygiene. The company's operations are constantly reviewed by McDonald's to ensure a high level of compliance.

ON BEHALF OF THE BOARD:

Mrs S J Mclean - Director

16 September 2026

The director presents her report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an operator of 27 McDonald's restaurant franchises.

DIVIDENDS

No interim dividend was paid during the year. The director recommends a final dividend of 40000 per share.

The total distribution of dividends for the year ended 31 December 2025 will be £ 4,000,000 .

FUTURE DEVELOPMENTS

The director is committed to increasing both the turnover and profitability of the company. Macro-economic challenges are expected to continue into 2026, and the company will be working closely with the franchisor to counter any negative impacts from the changing external environment. The company will continue its policy of refurbishing its stores in line with the McDonald's national re-imaging strategy. The company will continue to push delivery and digital offerings. The director aims to maintain the existing management policies which has resulted in profitability in the current year.

EVENTS SINCE THE END OF THE YEAR

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

DIRECTOR

Mrs S J Mclean held office during the whole of the period from 1 January 2025 to the date of this report.

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, loans to the company, and trade creditors. The main purpose of these instruments is to provide funds for the company's operations. Their existence exposes the company to several financial risks, which are detailed in the Strategic Report under financial risk management and policies.

POLITICAL DONATIONS AND EXPENDITURE

No political donations were made during the year.

EMPLOYMENT OF DISABLED PERSONS

The company operates an equal opportunities policy with regard to recruitment and seeks to offer suitable work and training wherever practicable to persons with disabilities. The policy of the company is to ensure that disabled applicants for employment are given full and fair consideration having regard to their aptitudes and abilities. Existing disabled employees are given equal access to appropriate training, career development and promotion opportunities within the company. In the event of employees becoming disabled while in the employment of the company, all reasonable means are explored to achieve retention in employment in the same or an alternative capacity.

ENGAGEMENT WITH EMPLOYEES

Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer in our approach to pay and benefits our employees receive. The health, safety and wellbeing of our employees is one of our primary considerations.

The company aims to promote a working environment free from unlawful harassment, victimisation, bullying and discrimination. The company regards all its employees as members of a team where opinions are valued, and everyone is regarded as equal in status and treated with fairness and respect.

The company endeavours to ensure that no job applicant or existing employee is treated less favourably on the grounds of their gender, age, disability, race, sexual orientation, religion, or belief, and that nobody is disadvantaged by conditions, requirements or practices which cannot be shown to be just and fair.

The company's recruitment procedures are intended to ensure that employees are selected, promoted, and treated according to their ability and that everyone has an equal opportunity to receive training and development.

The company communicates regularly with all employees on matters relating to its performance. Employees are encouraged to contribute to the decision-making process through regular staff meetings held by the management of the company to discuss matters of concern.

An open management policy is operated whereby all members of staff (including part-time and casual staff) are briefed regularly and kept informed on matters affecting the company by means of regular store meetings and communications, together with personal appraisals and feedback sessions.

STAKEHOLDER ENGAGEMENT

Our customers are at the heart of everything we do. We acknowledge the importance of keeping our customers engaged with our business and we do this in many ways through social media, our My McDonald's app, and newsletters. We use these communications to help keep customers up to date with McDonald's news, marketing campaigns, product launches and offers.

We take seriously the responsibilities that come as a franchisee of a market leader. We endeavour to assist building better local communities and support charitable organisations such as Ronald McDonald House Charities.

Our Scale for Good (which is McDonald's flagship global environmental strategy) targets are set at a McDonald's Corporation level but are implemented locally. As part of our Global Scale for Good targets, we are taking a range of measures with targets on climate action, beef sustainability, packaging and recycling, commitment to families and youth opportunity.

The company attends franchise engagement sessions to generate ideas and influence the creation of the McDonald's business plan. National Leadership Group meetings are held every year to discuss the strategic direction of the company.

We rely on our suppliers for our success. We are proud supporters of British and Irish agriculture. McDonald's has long-term partnerships with many of our suppliers. Such long-term partnerships encourage collaboration and enable suppliers to make decisions for the long term, giving them the confidence to invest in their businesses. Long-term commitment to supply McDonald's UK, has enabled our suppliers to grow with us and drive positive change within their own businesses.

McDonald's holds annual supplier chain conferences to set out the business ambitions for the year. The franchiser works closely with our suppliers to understand challenges and opportunities that face them, and the franchisee community are part of the supplier chain committee to seek and share the opinions of the group.

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS

The company has a single director who has significant control. By reference to the Corporate Governance Guidance and Principles for Unlisted Companies in the UK, published by the Institute of Directors, the director has established a framework of company processes and outlooks that add value to the business, help build its reputation and ensure its long-term continuity and success. This framework aligns with the business system and processes established by the franchisor and contributes to the continued success of the company.

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013, to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

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

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is 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 she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Manex Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs S J Mclean - Director

16 September 2026

GREENHOUSE GAS EMISSIONS AND ENERGY CONSUMPTION

Location-based emissions report for the year ending December 2025

2025

2024

Streamlined Energy and Carbon Reporting

Emissions Scope

t CO2e

t CO2e

Natural Gas

1

330.17

316.09

Transport

1

22.63

24.14

Refrigerants

1

114.85

61.82

Propane

1

0

0

Purchased electricity

2

2,239.62

2,672.72

Scope 1 + 2 (Location-based)

2,707.27

3,074.77

Emissions from business travel in rental cars or employee-owned vehicles where the business is responsible for purchasing the fuel+ T&D losses + Waste

3

234.46

236.23

Scope 1 + 2 + 3 (Location-based)

2,941.73

3,311.00

tCO2e / £m turnover (Scope 1 + 2) *Location-based

22.81

28.15

tCO2e / £m turnover (Scope 1 + 2 + 3) *Location-based

24.79

30.31

Total energy consumed - kWh

Source

Current year kWh

%

Previous year kWh

%

Electricity

12,653,228.98

86.99%

12,908,596.00

87.62%

Transport (scope 1)

87,738.20

0.60%

96,319.00

0.65%

Natural Gas

1,804,627.37

12.41%

1,728,234.00

11.73%

Transport (scope 3)

0.00

0.00%

0.00

0.00%

Totals

14,545,594.55

100%

14,733,149.00

100%

METHODOLOGIES FOR ENERGY AND EMISSIONS CALCULATIONS

McLean Restaurants Limited is a private limited company, focusing on operating quick service restaurants. As such, it is obliged to report its energy, emissions and energy efficiency actions on an annual basis, through SECR.

GHG emissions in 2025 are about 11% lower than in 2024, with emissions associated with electricity reduced by around 15% and transport emissions reduced by 6%.

A location-based calculation of CO2e emissions is made using energy data collected from utility energy suppliers.

Energy and emissions from company owned cars were modelled using an average-size vehicle and unknown fuel type. Transport mileage is provided on an annual basis.

Estimations are being made for Refrigerants, ASDA and Roadchef as their frequency of data collection differs. Refrigerants data is collected biannually, through a survey. ASDA energy is being collected on a quarterly basis, while Roadchef is being collected annually.

The methodology is consistent with the 2025 edition of the UK Government GHG Conversion Factors for Company Reporting.

PRINCIPAL MEASURES TAKEN TO INCREASE ENERGY EFFICIENCY

The director has continued to seek and implement energy efficiency measures within both the work processes and the use of work equipment. McDonald's Restaurants Limited is actively participating in mandatory compliance schemes, such as the Energy Savings Opportunity Scheme, TCFD, and is considering implementing the recommendations outlined in the ESOS audit reports.

The following actions are part of continued efforts to improve energy efficiency at McLean Restaurants Limited:

- Reductions to the time schedule for internal lighting, air handling units (AHU) conditioning, kitchen extract system, in line with opening hours.

- Decreased temperature set points in dining and kitchen areas, from 28•C to 22•C.

- Increased temperature deadbands in dining and kitchen areas, especially to AHUs.

- Local control settings changed from "Always on" to "Normal"

- Heating set point temperature reduction

- BMS time adjusted to sync with actual time

- Using fire up-fire down schedules

McDonald's goal is to achieve net zero emissions in all UK restaurants by 2030. This significant decarbonisation of the emissions from our restaurants will be in line with the SBTi net zero criteria and a 1.5•C climate scenario pathway. This is an interim target towards becoming net zero across our entire business by 2040. We will achieve this by reducing our emissions through how we power our restaurants, as well as how we reduce and recycle our waste.

Our overall strategy is to pursue a program of energy efficiency combined with carbon mitigation measures such as the utilisation of renewable electricity and transitioning to LED lighting throughout all our restaurants. This will be bolstered with programs to reduce and decarbonise heat across our estate. We are committed to being more energy efficient through deploying better internal operating practices and by investing in technology which saves energy.

Opinion

We have audited the financial statements of Mclean Restaurants Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 31 December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page eight, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: Companies Act 2006/FRS 102, Employment Law, Waste, Health & Safety. We enquired of management to obtain an understanding of how the Company is complying with those legal and regulatory frameworks and whether they had any knowledge of actual or suspected fraud. We corroborated the results of our enquiries through our discussions with the directors and management. We did not identify any matters relating to non-compliance with laws and regulation or matters in relation to fraud;

- We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making inquiries of management and those responsible for legal and compliance procedures.

- In assessing the potential risks of material misstatement, we obtained an understanding of the Company's operations, including its objectives and strategies to understand the expected financial statement disclosures and business risks that may result in risks of material misstatement.

- In assessing the appropriateness of the collective competence and capabilities of the engagement team, the engagement partner considered the engagement team's:

> understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation

> the specialist skills required and

> knowledge of the industry in which the client operates.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

> assessing the design effectiveness of controls management has in place to prevent and detect fraud;

> challenging assumptions and judgements made by management in its significant accounting estimates;

> Identifying and testing journal entries, in particular manual journal entries made at year end for financial statement preparation; and

> assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the related financial statement item.

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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.

- Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Clinton Meehan Bsc FCA (Senior Statutory Auditor)

for and on behalf of Manex Accountants Limited

Chartered Accountants &

Registered Auditors

No 9, Castle Court 2

Castlegate Way

Dudley

West Midlands

DY1 4RH

16 September 2026

TURNOVER

4

121,293,393

109,223,188

Cost of sales

72,611,742

66,047,047

GROSS PROFIT

48,681,651

43,176,141

Administrative expenses

44,552,314

39,618,895

4,129,337

3,557,246

Other operating income

90,392

45,337

OPERATING PROFIT

6

4,219,729

3,602,583

Interest receivable and similar income

29,587

12,253

4,249,316

3,614,836

Interest payable and similar expenses

7

222,437

159,752

PROFIT BEFORE TAXATION

4,026,879

3,455,084

Tax on profit

8

1,096,905

1,062,067

PROFIT FOR THE FINANCIAL YEAR

2,929,974

2,393,017

Retained earnings at beginning of year

7,127,742

7,734,725

Dividends

9

(4,000,000

)

(3,000,000

)

RETAINED EARNINGS AT END OF YEAR

6,057,716

7,127,742

FIXED ASSETS

Intangible assets

10

12,220,264

7,553,155

Tangible assets

11

5,628,739

4,587,376

Investments

12

33,750

26,250

17,882,753

12,166,781

CURRENT ASSETS

Stocks

13

520,670

479,754

Debtors

14

1,527,014

1,387,278

Cash at bank and in hand

11,025,411

5,417,685

13,073,095

7,284,717

CREDITORS

Amounts falling due within one year

15

19,006,484

10,325,973

NET CURRENT LIABILITIES

(5,933,389

)

(3,041,256

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,949,364

9,125,525

CREDITORS

Amounts falling due after more than one year

16

(5,692,709

)

(1,790,765

)

PROVISIONS FOR LIABILITIES

19

(198,839

)

(206,918

)

NET ASSETS

6,057,816

7,127,842

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

6,057,716

7,127,742

SHAREHOLDERS' FUNDS

6,057,816

7,127,842

The financial statements were approved by the director and authorised for issue on 16 September 2026 and were signed by:

Mrs S J Mclean - Director

Cash flows from operating activities

Cash generated from operations

1

11,777,468

5,522,665

Interest paid

(222,437

)

(159,752

)

Tax paid

(959,847

)

(1,841,993

)

Net cash from operating activities

10,595,184

3,520,920

Cash flows from investing activities

Purchase of intangible fixed assets

(5,341,588

)

(23,141

)

Purchase of tangible fixed assets

(2,726,059

)

(1,436,611

)

Purchase of fixed asset investments

(7,500

)

-

Sale of tangible fixed assets

8,000

-

Interest received

29,587

12,253

Net cash from investing activities

(8,037,560

)

(1,447,499

)

Cash flows from financing activities

New loans in year

7,800,000

1,135,000

Loan repayments in year

(1,403,901

)

(1,099,020

)

Amount introduced by directors

4,000,000

3,000,000

Amount withdrawn by directors

(3,345,997

)

(2,930,767

)

Equity dividends paid

(4,000,000

)

(3,000,000

)

Net cash from financing activities

3,050,102

(2,894,787

)

Increase/(decrease) in cash and cash equivalents

5,607,726

(821,366

)

Cash and cash equivalents at beginning of year

2

5,417,685

6,239,051

Cash and cash equivalents at end of year

2

11,025,411

5,417,685

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31/12/25

31/12/24

£

£

Profit before taxation

4,026,879

3,455,084

Depreciation charges

2,350,022

2,348,895

Loss on disposal of fixed assets

1,153

-

Finance costs

222,437

159,752

Finance income

(29,587

)

(12,253

)

6,570,904

5,951,478

Increase in stocks

(40,916

)

(51,812

)

Increase in trade and other debtors

(284,873

)

(146,919

)

Increase/(decrease) in trade and other creditors

5,532,353

(230,082

)

Cash generated from operations

11,777,468

5,522,665

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

11,025,411

5,417,685

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

5,417,685

6,239,051

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank and in hand

5,417,685

5,607,726

11,025,411

5,417,685

5,607,726

11,025,411

Debt

Debts falling due within 1 year

(934,103

)

(2,494,155

)

(3,428,258

)

Debts falling due after 1 year

(1,790,765

)

(3,901,944

)

(5,692,709

)

(2,724,868

)

(6,396,099

)

(9,120,967

)

Total

2,692,817

(788,373

)

1,904,444

1.	STATUTORY INFORMATION

Mclean Restaurants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" 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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgments that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

> determining the estimated useful lives of tangible and intangible assets.

> determining the residual value of tangible fixed assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually at the point of sale); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life, which is 20 years in line with the licence term.

Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets other than goodwill

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.

Amortisation is calculated by reference to terms of property lease periods and franchise agreements subject to a maximum of 20 years.

Licence fees are being amortised evenly over the shorter of the head lease term or 20 years.

Stamp duty is being amortised evenly over the shorter of the head lease term or 20 years.

Tangible fixed assets

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

Improvements to property

-

7 - 10 years straight line

Plant and machinery

-

2 - 10 years straight line

Motor vehicles

-

20% on reducing balance

Stocks

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

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 statement of financial position date.