B.J.R. Foods Limited - Limited company accounts 23.2

REGISTERED NUMBER: 01481551 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 27TH DECEMBER 2021 TO 25TH DECEMBER 2022

FOR

B.J.R. FOODS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

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:

Suite 201 Churchill House

120 Bunns Lane

London

NW7 2AS

REGISTERED NUMBER:

01481551 (England and Wales)

AUDITORS:

PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

The directors present their strategic report for the period 27th December 2021 to 25th December 2022.

BUSINESS REVIEW

Turnover decreased by 7.15% in the period to £38,149,258 (2021: £41,086,872). The company has made a loss after tax of £1,182,013 during this year (2021: profit of $3,244,762).

Results and KPIs:

2022

2021

£

£

Turnover

38,149,258

41,086,872

Gross Profit

17,387,267

21,075,666

Profit/(loss) after tax

(1,182,013

)

3,244,762

EBITDA

406,001

5,891,193

The decrease in turnover is primarily due to changes in VAT rate to 20% during the year compared to lower VAT of 5% last year.

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.

Despite the current adverse economic conditions including inflationary pressures, it is still anticipated that the company will continue to achieve positive EBITDA in 2023.

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.

STREAMLINED ENERGY AND CARBON REPORTING (SECR)

The business reports an annual kWh usage of over 8.9m for the period ended in December 2022 (2021 - over 9.3m) as detailed below:

Period ended

Period ended

25 December 2022

26 December 2022

Energy consumption used to calculate emissions (kWh)

8,929,137

9,253,486

Energy consumption break down (kWh):

- Gas (Scope 1)

1,691,767

1,723,333

- Electricity (Scope 2)

7,163,624

7,449,647

- Transport Fuel (Scope 1 - Company Cars)

73,747

80,507

Scope 1 emissions in tonnes CO2e

- Gas

309

316

- Transport Fuel (Company Cars)

18

20

Scope 2 emissions in tonnes CO2e

- Electricity

1,385

1,582

Scope 3 emissions in tonnes CO2e

0

0

Total gross emissions in tonnes CO2e

1,712

1,917

Intensity ratio kg CO2e / million GBP turnover

0.045

0.047

-

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

-

For December 2021, all emissions factors are taken from UK Government GHG Conversion Factors for Company Reporting, version 2.0, 2021 factors.

-

For December 2022, all emissions factors are taken from UK Government GHG Conversion Factors for Company Reporting, version 2.0, 2022 factors.

-

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

-

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

-

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

No energy efficiency measures were carried out during the period ended 25 December 2022; however, plans are currently being agreed moving forward.

ON BEHALF OF THE BOARD:

Z Abbasi - Director

20th September 2023

The directors present their report with the financial statements of the company for the period 27th December 2021 to 25th December 2022.

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 25th December 2022.

DIRECTORS

The directors shown below have held office during the whole of the period from 27th December 2021 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:

Z Abbasi - Director

20th September 2023

Opinion

We have audited the financial statements of B.J.R. Foods Limited (the 'company') for the period ended 25th December 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 25th December 2022 and of its loss for the period then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-

we reviewed the financial statement disclosures and 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/assets; and

-

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

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

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

Use of our report

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

Vimal Shah (Senior Statutory Auditor)

for and on behalf of PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

20th September 2023

TURNOVER

3

38,149,258

41,086,872

Cost of sales

20,761,991

20,011,206

GROSS PROFIT

17,387,267

21,075,666

Administrative expenses

18,770,520

17,122,569

(1,383,253

)

3,953,097

Other operating income

-

73,215

OPERATING (LOSS)/PROFIT

5

(1,383,253

)

4,026,312

Interest payable and similar expenses

6

-

(499

)

(LOSS)/PROFIT BEFORE TAXATION

(1,383,253

)

4,026,811

Tax on (loss)/profit

7

(201,240

)

782,049

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(1,182,013

)

3,244,762

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(1,182,013

)

3,244,762

FIXED ASSETS

Intangible assets

8

1,278,544

1,519,199

Tangible assets

9

3,580,714

4,551,447

4,859,258

6,070,646

CURRENT ASSETS

Stocks

10

321,914

282,966

Debtors

11

2,840,106

1,802,093

Cash at bank and in hand

4,677,197

5,125,461

7,839,217

7,210,520

CREDITORS

Amounts falling due within one year

12

4,227,508

3,563,585

NET CURRENT ASSETS

3,611,709

3,646,935

TOTAL ASSETS LESS CURRENT LIABILITIES

8,470,967

9,717,581

PROVISIONS FOR LIABILITIES

14

408,799

473,400

NET ASSETS

8,062,168

9,244,181

CAPITAL AND RESERVES

Called up share capital

15

28,100

28,100

Share premium

16

156,888

156,888

Retained earnings

16

7,877,180

9,059,193

SHAREHOLDERS' FUNDS

8,062,168

9,244,181

The financial statements were approved by the Board of Directors and authorised for issue on 20th September 2023 and were signed on its behalf by:

Z Abbasi - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 28th December 2020

-

5,814,431

156,888

5,971,319

Changes in equity

Issue of share capital

28,100

-

-

28,100

Total comprehensive income

-

3,244,762

-

3,244,762

Balance at 26th December 2021

28,100

9,059,193

156,888

9,244,181

Changes in equity

Total comprehensive income

-

(1,182,013

)

-

(1,182,013

)

Balance at 25th December 2022

28,100

7,877,180

156,888

8,062,168

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.

Going Concern

The Company made net loss after taxes amounting to £1,182,013 (2021: profit of £3,244,762) and had net current assets of £3,611,709 (2021: 3,646,935), net assets of £8,062,168 (2021: £9,244,181) and bank balances of £4,677,197 (2021: £5,125,461). 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 recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebated value added tax and other sales taxes. The turnover is recognised on the date that the KFC orders are placed, which is in all cases also the date when the KFC products are delivered to the customers.

Goodwill

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

Intangible assets

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

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

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

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

Tangible fixed assets

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

Plant and machinery

-

at varying rates

Stocks

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

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

Provisions

Provisions for 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

27/12/21

28/12/20

to

to

25/12/22

26/12/21

£

£

Wages and salaries

9,446,810

9,542,486

Social security costs

506,266

496,957

Other pension costs

132,444

131,005

10,085,520

10,170,448

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

Period

Period

27/12/21

28/12/20

to

to

25/12/22

26/12/21

Shop staff

696

664

Administration staff

47

53

743

717

Period

Period

27/12/21

28/12/20

to

to

25/12/22

26/12/21

£

£

Directors' remuneration

10,400

41,900

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

5.	OPERATING (LOSS)/PROFIT

The operating loss (2021 - operating profit) is stated after charging:

Period

Period

27/12/21

28/12/20

to

to

25/12/22

26/12/21

£

£

Other operating leases

1,233,647

1,084,512

Depreciation - owned assets

1,347,870

1,405,109

Loss on disposal of fixed assets

10,405

61,124

Goodwill amortisation

344,566

344,567

Licence fees amortisation

77,660

46,164

Transfer fees amortisation

8,754

6,919

Auditors remuneration

40,000

32,000

Retail, hospitality and leisure grants

-

73,215

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

Period

27/12/21

28/12/20

to

to

25/12/22

26/12/21

£

£

Interest payable

-

(499

)

7.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the period was as follows:

Period

Period

27/12/21

28/12/20

to

to

25/12/22

26/12/21

£

£

Current tax:

UK corporation tax

(133,240

)

727,049

Deferred taxation

(68,000

)

55,000

Tax on (loss)/profit

(201,240

)

782,049

Reconciliation of total tax (credit)/charge included in profit and loss

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

Period

Period

27/12/21

28/12/20

to

to

25/12/22

26/12/21

£

£

(Loss)/profit before tax

(1,383,253

)

4,026,811

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 19% (2021 - 19%)

(262,818

)

765,094

Effects of:

Expenses not deductible for tax purposes

7,403

2,781

Depreciation in excess of capital allowances

106,997

27,990

Adjustments to tax charge in respect of previous periods

15,178

(35,928

)

Group relief

-

(32,888

)

Deferred tax

(68,000

)

55,000

Total tax (credit)/charge

(201,240

)

782,049

8.	INTANGIBLE FIXED ASSETS

Licence

Lease

Transfer

Goodwill

fees

premiums

fees

Totals

£

£

£

£

£

COST

At 27th December 2021

9,521,988

575,646

66,404

63,865

10,227,903

Additions

-

198,334

-

-

198,334

Disposals

-

(92,296

)

-

-

(92,296

)

At 25th December 2022

9,521,988

681,684

66,404

63,865

10,333,941

AMORTISATION

At 27th December 2021

8,385,495

220,759

49,999

52,451

8,708,704

Amortisation for period

344,566

77,660

-

8,754

430,980

Eliminated on disposal

-

(84,287

)

-

-

(84,287

)

At 25th December 2022

8,730,061

214,132

49,999

61,205

9,055,397

NET BOOK VALUE

At 25th December 2022

791,927

467,552

16,405

2,660

1,278,544

At 26th December 2021

1,136,493

354,887

16,405

11,414

1,519,199

9.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 27th December 2021

10,121,425

Additions

368,334

Disposals

(859,212

)

Disposals/Impairments

9,531

At 25th December 2022

9,640,078

DEPRECIATION

At 27th December 2021

5,569,978

Charge for period

1,347,870

Disposals/Impairments

(858,484

)

At 25th December 2022

6,059,364

NET BOOK VALUE

At 25th December 2022

3,580,714

At 26th December 2021

4,551,447

10.

STOCKS

2022

2021

£

£

Raw materials

321,914

282,966