B.J.R. Foods Limited - Limited company accounts 20.1

REGISTERED NUMBER: 01481551 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 30TH DECEMBER 2019 TO 27TH DECEMBER 2020

FOR

B.J.R. FOODS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Z Abbasi

I Suleman

REGISTERED OFFICE:

First Floor

7-8 Conduit Street

London

W1S 2XF

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 2019 to 27th December 2020.

BUSINESS REVIEW

On 30th December 2019, following a group restructure, the businesses of the two fellow group companies, Amber Restaurants Limited and Colonel Foods Limited, were transferred to the Company. All the assets and liabilities, franchise agreements, contracts, leases and other rights and obligations of the two group entities were transferred or reassigned to the Company.

As a result, the figures for the current period represent the figures for the combined businesses of the three companies while the comparatives figures represent the figures for B.J.R. Foods Limited only.

The aim of the restructure was to simplify the group, reduce compliance costs and to simplify the reporting structure.

Results and KPIs:

The figures provided below for the current and comparative years represent the combined figures of the three businesses.

2020

2019

Turnover

28.164m

32.353m

Gross profit margin

51.82%

54.17%

Pre tax net profit margin

4.78%

3.64%

EBITDA

£3.052m

£2.844m

The COVID-19 pandemic had significant impacts on the business, with turnover reducing by 12.9% during the period. The KFC restaurants had to close completely and later re-open with limited services and with restrictions from time to time depending on government advice.

Government's financial assistance such as business rates relief, furlough grants, Eat Out to Help Out Scheme and the reduction in VAT rate have helped to sustain the business. Since July 2020, the trade has been relatively good as the Eat Out to Help Out scheme and the reduction in VAT rate has helped to support the business reopening after the COVID-19 lockdown period.

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 indicator, 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.

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, short term borrowings from the parent company and cash. The company seeks to ensure there is short term flexibility through the availability of an overdraft facility. The company monitors its cash balance on a regular basis to ensure that all foreseeable future needs can be met from available resources.

ON BEHALF OF THE BOARD:

I Suleman - Director

26th November 2021

The directors present their report with the financial statements of the company for the period 30th December 2019 to 27th December 2020.

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

No dividends will be distributed for the period ended 27th December 2020.

DIRECTORS

The directors shown below have held office during the whole of the period from 30th December 2019 to the date of this report.

Z Abbasi

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:

I Suleman - Director

26th November 2021

Qualified opinion

We have audited the financial statements of B.J.R. Foods Limited (the 'company') for the period ended 27th December 2020 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

-

give a true and fair view of the state of the company's affairs as at 27th December 2020 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 qualified opinion

Due to the impact of the COVID-19 pandemic and the government guidance against travelling, we were unable to observe the physical counting of closing stocks as at 27th December 2020. We were unable to satisfy ourselves by alternative means concerning the closing stock quantities held at 27th December 2020, which are included in the balance sheet at £295,392, by using other audit procedures. Consequently, we are unable to determine whether any adjustment to this amount was necessary.

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 Auditor’s 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 qualified 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.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory quantities of £295,392 held at 27th December 2020. We have concluded that where the other information refers to the inventory balance or related balances such as cost of sales, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:

-

the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, 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 directors’ report.

Arising solely from the limitation on the scope of our work relating to inventory, referred to above:

-

we have not obtained all the information and explanations that we considered necessaryfor the purpose of our audit; and

-

we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies

Act 2006 requires us to report to you if, in our opinion:

-

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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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.

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 reviewed the financial statement disclosures and testing 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; 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

26th November 2021

TURNOVER

3

28,164,345

16,758,194

Cost of sales

13,569,445

7,602,202

GROSS PROFIT

14,594,900

9,155,992

Administrative expenses

14,648,647

8,277,237

(53,747

)

878,755

Other operating income

1,401,217

954

OPERATING PROFIT

5

1,347,470

879,709

Interest payable and similar expenses

6

499

1,868

PROFIT BEFORE TAXATION

1,346,971

877,841

Tax on profit

7

152,971

278,569

PROFIT FOR THE FINANCIAL PERIOD

1,194,000

599,272

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

1,194,000

599,272

FIXED ASSETS

Intangible assets

9

1,823,274

161,818

Tangible assets

10

4,605,055

2,885,036

6,428,329

3,046,854

CURRENT ASSETS

Stocks

11

295,392

132,275

Debtors

12

765,892

5,258,452

Cash at bank and in hand

2,896,376

975,431

3,957,660

6,366,158

CREDITORS

Amounts falling due within one year

13

3,971,570

4,222,593

NET CURRENT (LIABILITIES)/ASSETS

(13,910

)

2,143,565

TOTAL ASSETS LESS CURRENT LIABILITIES

6,414,419

5,190,419

PROVISIONS FOR LIABILITIES

15

415,000

385,000

NET ASSETS

5,999,419

4,805,419

CAPITAL AND RESERVES

Called up share capital

16

28,100

28,100

Share premium

17

156,888

156,888

Retained earnings

17

5,814,431

4,620,431

SHAREHOLDERS' FUNDS

5,999,419

4,805,419

The financial statements were approved by the Board of Directors and authorised for issue on 26th November 2021 and were signed on its behalf by:

I Suleman - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 26th November 2018

28,100

4,271,159

156,888

4,456,147

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

599,272

-

599,272

Balance at 29th December 2019

28,100

4,620,431

156,888

4,805,419

Changes in equity

Total comprehensive income

-

1,194,000

-

1,194,000

Balance at 27th December 2020

28,100

5,814,431

156,888

5,999,419

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 and registered office address can be found on the Company Information page.

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.

Comparatives

On 30th December 2019, following a group restructure, the businesses of the two fellow group companies, Amber Restaurants Limited and Colonel Foods Limited, were transferred to the Company. All the assets and liabilities, franchise agreements, contracts, leases and other rights and obligations of the two group entities were transferred or reassigned to the Company.

As a result, the current period figures represent the figures for the combined businesses of the three companies while the comparatives figures represent the figures for B.J.R. Foods Limited only.

Going Concern

The Company made net profit after taxes amounting to £1,194,000 (2019: £599,272) and had net current liabilities of £13,910 (2019: net current assets of £2,143,565), net assets of £5,999,419 (2019: £4,805,419) and bank balances of £2,896,376 (2019: £975,431). 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.

- Provision for reinstatement costs

Estimates of provision for future reinstatement of leased properties are based on current legal and constructive requirements and cost levels. Because actual outflows can differ from estimates due to changes in laws, regulations and market conditions and can take place many years in the future, the carrying amounts of the provision are regularly reviewed and adjusted to take account of such changes. The discount rate applied is reviewed annually.

Turnover

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

Revenue from the sale of goods is recognised when the Company has passed control of the goods to the customer.

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

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Stocks

Stocks are valued at the lower of 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 company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions for 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 provision is estimated based on the best estimate of the expenditure required to settle the obligation, taking into consideration time value.

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

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Wages and salaries

7,757,071

4,364,778

Social security costs

398,090

247,463

Other pension costs

117,643

74,914

8,272,804

4,687,155

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

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

Shop staff

603

296

Administration staff

48

17

651

313

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Directors' remuneration

-

-

Directors' services are provided by the parent undertaking, 1st Rate Investment (UK) Limited.

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Other operating leases

1,123,664

790,642

Depreciation - owned assets

1,333,556

678,207

Profit on disposal of fixed assets

(25,665

)

(199,084

)

Goodwill amortisation

344,566

-

Licence fees amortisation

45,276

23,103

Transfer fees amortisation

6,919

2,974

Auditors remuneration

21,325

11,248

Furlough grants

1,196,217

-

Retail, hospitality and leisure grants

205,000

-

The company also received business rate reliefs from various councils.

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Interest payable

499

1,868

7.

TAXATION

Analysis of the tax charge

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

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Current tax:

UK corporation tax

329,971

58,569

Deferred taxation

(177,000

)

220,000

Tax on profit

152,971

278,569

Reconciliation of total tax charge included in profit and loss

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

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Profit before tax

1,346,971

877,841

Profit multiplied by the standard rate of corporation tax in the UK of 19% (2019 - 19%)

255,924

166,790

Effects of:

Expenses not deductible for tax purposes

7,983

4,180

Capital allowances in excess of depreciation

-

(107,201

)

Depreciation in excess of capital allowances

68,925

-

Adjustments to tax charge in respect of previous periods

26,533

(5,200

)

Group relief

(29,394

)

-

Deferred tax

(177,000

)

220,000

Total tax charge

152,971

278,569

8.

DIVIDENDS

Period

Period

30/12/19

26/11/18

to

to

27/12/20

29/12/19

£

£

Ordinary shares of 1 each

Interim

-

250,000

9.	INTANGIBLE FIXED ASSETS

Licence

Lease

Transfer

Goodwill

fees

premiums

fees

Totals

£

£

£

£

£

COST

At 30th December 2019

30,842

346,416

-

25,487

402,745

Additions

-

38,254

6,404

-

44,658

Disposals

(30,842

)

(126,366

)

-

-

(157,208

)

Transfer from

group undertakings

9,521,988

275,486

60,000

38,378

9,895,852

At 27th December 2020

9,521,988

533,790

66,404

63,865

10,186,047

AMORTISATION

At 30th December 2019

30,842

193,943

-

16,142

240,927

Amortisation for period

344,566

45,276

-

6,919

396,761

Eliminated on disposal

(30,842

)

(133,199

)

-

-

(164,041

)

Transfer from

group undertakings

7,696,362

120,294

49,999

22,471

7,889,126

At 27th December 2020

8,040,928

226,314

49,999

45,532

8,362,773

NET BOOK VALUE

At 27th December 2020

1,481,060

307,476

16,405

18,333

1,823,274

At 29th December 2019

-

152,473

-

9,345

161,818

10.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 30th December 2019

4,665,674

Additions

789,862

Transfer from

group undertakings

4,401,424

At 27th December 2020

9,856,960

DEPRECIATION

At 30th December 2019

1,780,638

Charge for period

1,333,556

Transfer from

group undertakings

2,137,711

At 27th December 2020

5,251,905

NET BOOK VALUE

At 27th December 2020

4,605,055

At 29th December 2019

2,885,036

11.

STOCKS

2020

2019

£

£

Raw materials

295,392

132,275