REGISTERED NUMBER: 03757042 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2026

FOR

GOOD FOOD AND DRINK COMPANY LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,691,323

3,432,955

Investments

6

27,283

27,283

4,718,606

3,460,238

CURRENT ASSETS

Stocks

114,189

90,071

Debtors

7

19,919

1,066,386

Cash at bank and in hand

632,457

675,860

766,565

1,832,317

CREDITORS

Amounts falling due within one year

8

1,143,702

907,441

NET CURRENT (LIABILITIES)/ASSETS

(377,137

)

924,876

TOTAL ASSETS LESS CURRENT LIABILITIES

4,341,469

4,385,114

CREDITORS

Amounts falling due after more than one year

9

(669,261

)

(750,082

)

PROVISIONS FOR LIABILITIES

11

(104,465

)

(111,643

)

NET ASSETS

3,567,743

3,523,389

CAPITAL AND RESERVES

Called up share capital

12

102

102

Retained earnings

3,567,641

3,523,287

SHAREHOLDERS' FUNDS

3,567,743

3,523,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

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

Mr R M Barouh - Director

Mrs T A Barouh - Director

1.	STATUTORY INFORMATION

Good Food and Drink Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03757042

Registered office:

The Thatched Barn Inn

Croyde

BRAUNTON

Devon

EX33 1LZ

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In the application of the company'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 judgements and estimates made by directors are not considered material.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable net of VAT and discounts.

Turnover from the sale of food, drink and other goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when bar and food products are served to customers.

GOODWILL

Goodwill of £222,000 has been fully amortised.

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.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

Straight line over 50 years

Fixtures, fittings and equipment

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Land is not depreciated.

Fixed asset investments

Fixed asset investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest 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.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future 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.

Derecognition of financial liabilities

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

Equity instruments

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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

EMPLOYEE BENEFITS

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 155 (2025 - 155 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2025

and 30 April 2026

222,000

AMORTISATION

At 1 May 2025

and 30 April 2026

222,000

NET BOOK VALUE

At 30 April 2026

-

At 30 April 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Freehold

and

Motor

property

equipment

vehicles

Totals

£

£

£

£

COST

At 1 May 2025

3,014,740

1,654,636

209,219

4,878,595

Additions

1,217,709

123,951

18,745

1,360,405

Disposals

-

-

(32,365

)

(32,365

)

At 30 April 2026

4,232,449

1,778,587

195,599

6,206,635

DEPRECIATION

At 1 May 2025

28,359

1,305,994

111,287

1,445,640

Charge for year

1,233

60,283

22,569

84,085

Eliminated on disposal

-

-

(14,413

)

(14,413

)

At 30 April 2026

29,592

1,366,277

119,443

1,515,312

NET BOOK VALUE

At 30 April 2026

4,202,857

412,310

76,156

4,691,323

At 30 April 2025

2,986,381

348,642

97,932

3,432,955

Natwest Bank plc holds legal charges over the company's freehold properties and associated equipment and furnishings.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2025

85,615

Disposals

(32,365

)

At 30 April 2026

53,250

DEPRECIATION

At 1 May 2025

32,884

Charge for year

10,705

Eliminated on disposal

(14,413

)

At 30 April 2026

29,176

NET BOOK VALUE

At 30 April 2026

24,074

At 30 April 2025

52,731

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2025

and 30 April 2026

27,283

NET BOOK VALUE

At 30 April 2026

27,283

At 30 April 2025

27,283

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

16,325

1,006,103

Prepayments and accrued income

3,594

60,283

19,919

1,066,386

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

79,400

79,000

Hire purchase contracts

15,756

26,040

Trade creditors

251,467

247,522

Corporation tax

99,162

83,014

Social security and other taxes

54,193

48,871

VAT

165,331

173,274

Other creditors

96,215

93,200

Directors' current accounts

294,613

-

Accruals and deferred income

87,565

156,520

1,143,702

907,441

£92,000 (2025: £92,000) in other creditors and other loans is owed to related parties.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 2-5 years

317,600

316,000

Bank loans more than 5 years

351,661

428,083

Hire purchase contracts

-

5,999

669,261

750,082

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

351,661

428,083

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

748,661

823,083

Hire purchase contracts

15,756

32,039

764,417

855,122

The bank loan and overdraft are secured by legal charges over the freehold properties and associated equipment and furnishings.

Hire purchase liabilities are secured on the assets to which they relate.

11.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

104,465

111,643

Deferred

tax

£

Balance at 1 May 2025

111,643

Credit to Profit and loss account during year

(7,178

)

Balance at 30 April 2026

104,465

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

£1

100

100

1

Ordinary 'B' non-voting

£1

1

1

1

Ordinary 'C' non-voting

£1

1

1

102

102

13.	RELATED PARTY DISCLOSURES

Directors Mr R M Barouh and Mrs T A Barouh are partners in Good Food & Drink Depot. During the year the company recharged wages costs of £303,653 (2025 - £561,032) to the partnership. The partnership paid service charges of £15,183 (2025 - £28,052).

As at 30 April 2026 the company were owed £Nil (2025 - £986,602) by the partnership.

The above loan to the partnership includes £Nil (2025: £11,384) relating to the directors, this is repayable on demand with no interest charge.

The director's sons Mr Z Barouh and Mr T Barouh have loaned the company £92,000 (2025 - £92,000). This amount is outstanding at the year end. Interest on the loan is charged at 5%. Interest of £4,600 was charged during the year.

Director Mr R M Barouh's mother, Mrs J Barough (deceased) owed the company £2,026 as at 30 April 2026 (2025 - £1,948).

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R M Barouh.