| REGISTERED NUMBER: |
| Iceking Restaurants Limited |
| Abridged Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| REGISTERED NUMBER: |
| Iceking Restaurants Limited |
| Abridged Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 5 |
| Iceking Restaurants Limited |
| Company Information |
| for the year ended 31 March 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 239-241 Kennington Lane |
| London |
| SE11 5QU |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Iceking Restaurants Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Iceking Restaurants Limited for the year ended 31 March 2025 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Iceking Restaurants Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Iceking Restaurants Limited and state those matters that we have agreed to state to the director of Iceking Restaurants Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Iceking Restaurants Limited and its director for our work or for this report. |
| It is your duty to ensure that Iceking Restaurants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Iceking Restaurants Limited. You consider that Iceking Restaurants Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Iceking Restaurants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 239-241 Kennington Lane |
| London |
| SE11 5QU |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Statement of Financial Position |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Statement of Financial Position - continued |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings | 14 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 were approved by the director and authorised for issue on |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Iceking Restaurants Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is derived from the ordinary activities of the business and is recognised when the customers take delivery of the goods. |
| Goodwill |
| 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. |
| The KFC licence is being amortised evenly over the term of the licence of ten years. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Short | Plant and | and |
| leasehold | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 6. | INVENTORIES |
| 2025 | 2024 |
| £ | £ |
| Finished goods |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| 9% preference shares |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The bank loans and overdrafts are secured by a charge over the assets and undertakings of the company. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 26,934 | 13,344 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Provided during year |
| Balance at 31 March 2025 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary A | £1 | 150,000 | 150,000 |
| Ordinary B | £1 | 150,000 | 150,000 |
| 300,000 | 300,000 |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 13. | CALLED UP SHARE CAPITAL - continued |
| The Ordinary 'A' shares of £1 each carry a right to vote and to receive 85% of any dividends declared to Ordinary shareholders with the remaining 15% due to Ordinary 'B' shares. |
| The Preference shares confer to the holders thereof the right to receive in priority to the holders of any other class of share in the company a fixed cumulative preferential dividend at the rate of 9% per annum. |
| The Preference dividend shall accrue on a daily basis and shall be paid subject to the provisions of The Companies Act 2006 by equal instalments on the first day of each month. |
| The Preference shareholders may redeem their shares for cash at par by giving twelve months' written notice to the company. |
| In the event of the company winding up, the assets and related profits shall be used to pay the holders of the Preference shares all accruals and arrears of the Preference dividends. Secondly to pay the holders of the Preference shares, 'A' Ordinary shares and 'B' Ordinary shares £1 each share held with the total sums due in respect of the 'A' shares and 'B' shares being apportioned 85% to the holders of the 'A' shares and 15% to the holders of the 'B' shares save that the sums payable to the Preference shareholders shall be reduced by the total amounts of dividends paid on the Preference shares since their issue. Thereafter, in distributing the balance amongst the holders of the 'A' shares and 'B' shares as to 85% to the holders of the 'A' shares and 15% to the holders of the 'B' shares. |
| 14. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2024 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 March 2025 | ( |
) |
| Iceking Restaurants Limited (Registered number: 03807315) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 15. | RELATED PARTY DISCLOSURES |
| Included within creditors are amounts due to a director of £41,560 (2024: £32,265) at balance sheet date. |
| JM Restaurants Limited and CM Restaurant Limited |
| These companies are under common control. |
| Included in debtors payable within one year are amounts due from these companies is nil (2024: £25,385) at balance sheet date. |
| Included within creditors falling due within one year are amounts due to company of £298,823 (2024:£298,823) at balance sheet date. |
| Mandoths Restaurants Limited |
| Included in debtors payable within one year are amounts due to company of £800,761 (2024: £800,761) at balance sheet date. |
| These loans are interest free and repayable on demand. |
| 16. | CONTROLLING PARTY |
| The controlling party is Mandoths Restaurants Ltd the parent company. |