Domino’s Pizza UK & IRL plc
Annual Report & Accounts
For the 53 weeks ended 2 January 2005
Delivering results
Domino’s Pizza UK & IRL plc
Lasborough Road, Kingston, Milton Keynes MK10 0AB
Tel: 01908 580000
www.dominos.co.uk  www.dominos.ie
087 12 12 12 12
Domino’s Pizza UK & IRL plc
Domino’s Pizza UK & IRL plc – Annual Report & Accounts For the 53 weeks ended 2 January 2005
Design: Remedy +44 (0)20 8940 6050 www.brandremedy.com
CORR Domino's cover a/w  30/3/05  15:53  Page 1 Domino’s Pizza Group Limited is a wholly owned subsidiary of Domino’s Pizza UK & IRL plc
and holds the master franchise licence to own, operate and franchise Domino’s Pizza
stores in England, Scotland, Wales and Ireland. 
Domino’s Pizza Inc., founded in the United States in 1960, is recognised as world leader
in the delivery of freshly-made, home-delivered high quality pizza. The first UK store
opened in 1985 and the first Irish store opened in 1991.
CONTENTS
Financial Highlights 1
Chairman’s Statement 3
Chief Executive’s Report 4
Board of Directors 12
Advisors 13
Report on Directors’ Remuneration 14
Directors’ Report 16
Independent Auditors’ Report 19
Group Profit and Loss Account 20
Group Balance Sheet 21
Company Balance Sheet 22
Group Statement of Cash Flows 23
Notes to the Financial Statements 24
Five Year Financial Summary 41
Notice of Annual General Meeting 42
Store Locations 44
CORR Domino's cover a/w  30/3/05  15:53  Page 2 Financial Highlights
for the 53 weeks ended 2 January 2005
Annual Report & Accounts 2004 1
•Pre-tax profit up 34.9% to £8.8m (2003: £6.5m)
• Underlying operating profits up 40.6% before sale of assets and exceptional
charges to £9.1m (2003: £6.5m)
• Earnings per share:
- Basic earnings per share up 46.7% to 13.23 pence (2003: 9.02p)
-Diluted earnings per share up 51.0% to 12.67 pence (2003: 8.39p)
•Total dividend up 50.0% to 5.25p per share for the year (2003: 3.50p per share)
• System sales up 22.5% to £174.3m (2003: £142.3m)
• 40 new delivery stores opened (2003: 50) and one store closed, bringing year-end
store count to 357 (2003: 318)
•Like-for-like sales of mature stores up 6.6% (2003: 7.4%)
• Commencement of share buyback programme with 800,000 shares acquired at a
cost of £1.6m (2003: £nil).
SYSTEM SALES
200
180
160
140
120
100
80
60
40
20
0
2000 2001 2002 2003 2004
76.1
98.4
118.9
142.3
174.3
£’m
PROFIT BEFORE TAX
10
9
8
7
6
5
4
3
2
1
0
2000 2001 2002 2003 2004
2,189
2,862
4,239
6,537
8,821
£’000
BASIC EARNINGS PER SHARE
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0
2000 2001 2002 2003 2004
2.61
4.00
5.60
9.02
13.23
Pence
DIVIDENDS PER SHARE
6.00
5.00
4.00
3.00
2.00
1.00
0
2000 2001 2002 2003 2004
0.80
1.33
2.00
3.50
5.25
Pence
CORRDominos Colour sec a/w  30/3/05  16:06  Page 1 From strength to strength
In 2004, Domino’s Pizza continued to grow at a rapid rate
but speed of expansion did not mean compromising on
quality. After all, the long-term strength of our business
relies upon the maintenance of very high standards.
That’s the reason why we will only open great-looking
new stores in prime locations and appoint outstanding
franchise operators to run them.
2 Domino’s Pizza UK & IRL plc
CORRDominos Colour sec a/w  30/3/05  16:06  Page 2 357
stores across the 
UK and Ireland
Chairman’s Statement
For us here at Domino’s Pizza in the UK and Ireland,
bigger seems to present us with more opportunities to
get better at what we do. As our store numbers grow,
so do our system-wide sales. In 2004, total sales from
all stores reached a record-setting £174.3 million, a
£32 million increase over 2003. And, keep in mind,
2003’s system-wide sales grew by £23 million after
breaking the then 2002’s record. Simply put, more
stores mean more sales. At the close of 2004 we 
celebrated the launch of our 357
th
store and our 
system is now bigger than those of our two nearest
competitors combined. We still foresee a time when
up to 1,000 Domino’s Pizza stores will be operating in
the UK and Ireland.
As the number of stores increases, the associated
costs per store are reduced. For example, consider our
National Advertising Fund (NAF) which finances our
marketing campaigns and is made up of contributions
from all stores. The NAF provides for the continuation
of our very successful relationship with The Simpsons
on Sky One as well as all of our TV advertisements and
campaigns in support of new product developments. In
2004 our National Advertising Fund grew to £7 million,
up from £5.7 million in 2003. When one considers that
the costs incurred in a nationwide advertising campaign
are the same whether there are ten or one hundred
or even one thousand stores, it’s easy to see that 
the returns and cost-effectiveness are going to be 
significantly improved with each new store that opens.
Our opportunities for future growth are more exciting
than ever. More residential property is being built all
over the country and in those new houses demand for,
and access to, in-home entertainment is still on the
rise. Demand for home-delivered pizza is following suit
as people seek to enjoy more time in their homes. A
quick look at the growth in our e-commerce business
is clear evidence that more people are logging on,
ordering a pizza and sitting down at home to enjoy 
as much leisure time there as possible.
Our e-commerce business is a success story in its own
right, generating £8.2m in sales during 2004, a 41%
increase over 2003. This success comes despite the
fact that our IT infrastructure, which we revamped 
in 2004, had spent a good part of the year under 
construction. The resulting work saw a new and
enhanced website and an improved interactive TV 
ordering platform on Sky Active, both aimed at making
our customers’ ordering experience more convenient,
enjoyable and much faster.
At Domino’s we benefit from a robust community of
franchise partners, whose ranks grew to 147 from 128
between 2003 and 2004. Many of these hard-working
people have become millionaires since joining our team
and their success has been earned the old-fashioned
way - through hard work and passion for their business,
as well as their adherence to Domino’s stringent quality
standards which benefit the whole system as well as
the individual. 
This year, I am delighted to welcome two significant
new appointments to our Board. Firstly, I should like
to welcome Lee Ginsberg who joined us as Finance
Director on 1 November 2004. Lee has extensive
experience in the leisure and retail industry and is 
a very positive addition to the Company’s strong 
senior management team. Also recently appointed is
John Hodson who joined us as Non-Executive Director
on 14 February 2005. John’s skills are certain to be an
excellent asset to the Company.
With heartfelt gratitude, I must also recognise two
accomplished men who have been instrumental in 
our success: Yoav Gottesman and Gerald Halpern.
Yoav has helped us navigate our path to success and
my brother Gerald has worked beside me for the past 
11 years, providing insight that helped to give our
business a strong foundation for growth. Yoav retired
from the Board in May 2004 and Gerry will be retiring
from our Board of Directors at the upcoming Annual
General Meeting.
In closing, I should like to say ‘thank you’ to everyone
in the Domino’s team for a job well done again this
past year. We couldn’t have reached the peaks we’ve
reached without the outstanding people in each of our
support departments and in each of our stores. And,
of course, we thank you, our shareholders, whose
confidence in us allows us to grow stronger each
year. It is you who provide us with the resources to
accomplish ever greater triumphs year after year and
who make it possible for us to raise the benchmark at
the start of each new year. We simply couldn’t do it
without you. We will work hard to earn your continued
confidence in 2005.
Colin Halpern
Chairman
Annual Report & Accounts 2004 3
CORRDominos Colour sec a/w  30/3/05  16:06  Page 3 Chief Executive’s Report
INTRODUCTION
2004 was another very successful year for your
Company with sales reaching record levels both 
system-wide and at store level. Profitability also 
continued to grow very strongly as the benefits of our
high operational gearing became still more apparent.
Whilst we opened fewer new stores in 2004 than in
2003, our priority remains to only open in the right
locations with the right operators, and this we achieved.
Our strong cash generation continued and, as 
indicated in previous statements, this will be returned
to shareholders as long as it does not impact on the
growth of the business. As a result, the share buy
back programme was commenced during 2004 and 
it is proposed to significantly increase the dividend
payment for the year. 
Our continuing success results from a strong and 
talented management team who have an in-depth
understanding of the market in which we operate.
Their innovative approach has helped to further
strengthen our leadership position. 
SYSTEM SALES
System sales, which are the sales of all stores in the
Domino’s system in the UK and Republic of Ireland,
rose by 22.5% to £174.3m (2003: £142.3m) in the 
53 weeks ended 2 January 2005. Like-for-like sales 
in the 268 stores open for more than twelve months
grew by 6.6% (2003: 7.4%). 
In 2005 Domino’s Pizza celebrates 20 years in the UK
market. In the last five years alone, total system sales
have grown by over 174.5% from £63.5m in 1999 to
£174.3m in 2004. This is an annual compound growth
rate of 22.4%. 
SYSTEM EXPANSION AND MANAGING GROWTH
In 2004 we opened 40 new stores (2003: 50) and
closed one (2003: one). As a result, the year-end store
count in the UK and Ireland increased to 357 stores
(2003: 318). 
Forty new stores in 2004 was, however, a 
disappointment as we had set ourselves an internal
target to repeat the 50 new store openings we
achieved in 2003. There were two reasons for the
shortfall. Firstly, as foreshadowed in my Interim 
Statement, uncertainty arising from long-awaited
changes in the planning Use Classes Order, which 
will result in Domino’s Pizza stores requiring A5
(rather than A3) class, has caused delays in our
obtaining the necessary consents. 
The legislation that gave rise to these changes was
announced in early 2004 but, after an extraordinary
delay, it has only recently been confirmed that the new
classes system will come into effect on 21 April 2005.
Whilst we do not welcome the still stricter planning
controls, we hope the elimination of uncertainty will
allow the planning process to become more predictable.
It is the strategy of the Company to expand the system
as quickly as possible. We will not however, do this at
any price and the quality of the franchisees that operate
new stores continues to be of paramount importance. 
This highly selective approach to expansion is the 
second reason for our opening fewer stores in 2004
than in the previous year. During 2004, although we
saw another record number of applications from
potential new franchisees, aided by our winning the
British Franchise Association Franchisor of the Year
award, there remained a lack of suitable franchisees
in regions that we have identified for expansion and
where we have secured new sites. We, therefore,
declined to open a number of stores where there 
was neither a new franchisee of the standard required
nor an existing franchisee ready to operate multiple
stores. I am pleased to report that most of these sites
have now opened or are scheduled to open in the
first quarter of 2005 with franchisees who will be a
credit to the system. 
TRADING RESULTS 
Group turnover, which includes the sales generated by
the Group from royalties, fees on new store openings,
food sales and rental income, as well as the turnover
of corporately owned and operated stores, grew by
20.5% to £74.2m (2003: £61.6m). 
Group operating profit grew by 53.2% to £9.1m
(2003: £6.0m) although there was an exceptional
charge of £532,000 in 2003 related to a tender offer
and the establishment of an Employee Benefit Trust
(“EBT”). Excluding this, Group operating profit grew
by 40.6%. During 2004 the Group incurred a loss 
on the sale of fixed assets of £47,000 compared 
with a profit of £775,000 in the previous year, almost
all of which related to corporate store disposals in
both years. 
4 Domino’s Pizza UK & IRL plc
66,000,000
combinations to 
choose from
CORRDominos Colour sec a/w  30/3/05  16:07  Page 4 Fresh pizza on time everytime
Domino’s is a people business before it’s a pizza delivery
business and our stores employ over 8,000 team members.
It’s up to these diverse and dedicated people to take great
care of our customers and uphold the high standards
that make us the pizza delivery leaders. That’s why we
invest in attracting, training and retaining the very best.
Annual Report & Accounts 2004 5
CORRDominos Colour sec a/w  30/3/05  16:07  Page 5 Quality through and through
Delivering a great-tasting, piping-hot pizza on time relies
on three things – ingredients, expertise and innovation. 
Our team of foodies follow the seasons around the world
to source the best ingredients and we make our own fresh
dough balls too. Skilled pizza experts handcraft every single
pizza while cutting edge ordering and delivery technology
enables us to focus every minute on preparing high quality
food. Our food may arrive fast but it’s not fast food!
6 Domino’s Pizza UK & IRL plc
CORRDominos Colour sec a/w  30/3/05  16:07  Page 6 Chief Executive’s Report 
Interest paid rose to £0.4m (2003: £0.3m) as the
result of a full year interest charge on the EBT. Net
interest costs are covered 33.7 times by operating
profits (2003: 29.3 times). After taking account of
these items, profit before tax was up 34.9% to 
£8.8m from £6.5m. 
The tax charge fell from 30% to 23% principally as 
a result of the non-recurrence of the tax effect of the
previous year’s store disposals; the relief available 
on the rollover of capital gains made in earlier years
and the tax relief available to the Company on the
exercise of employee options. As a result of the
reduced tax charge, profits after tax were up 47.7%
to £6.7m (2003: £4.6m).
EARNINGS PER SHARE AND DIVIDEND 
Basic earnings per share were up 46.7% to 13.23
pence from 9.02 pence. Diluted earnings per share
increased by 51.0% to 12.67 pence from 8.39 pence.
As a result of the strong cash generation during the
year, the Board is pleased to recommend a further
significant increase in the dividend payment which, 
if approved, will give a final dividend of 3.05 pence
per share (2003: 2.18 pence per share). This would
give a total dividend for the year of 5.25 pence per
share, a 50.0% increase over the 3.50 pence per share
declared for 2003. The proposed dividend is 2.5 times
covered by profits after tax (2003: 2.6 times).
Subject to shareholders’ approval the final dividend
will be payable on 29 April 2005 to shareholders on
the register on 15 April 2005.
CASH FLOW AND BALANCE SHEET 
2004 has been another encouraging year in terms 
of our balance sheet and cash flows. Net cash inflow
from operating activities reached £9.9m, up from
£8.0m in 2003. This increase was attributable in the
main to the higher operating profits which were
£3.1m up on 2003.
The Group continues to generate increasingly strong
cash flows and the model is proving to be even more
robust as profitability grows and capital expenditure
levels have reduced now that the infrastructure is in
place. At the year-end, the Group had cash on hand 
of £4.8m (2003: £3.7m). The increase in cash on 
hand this year was even more reassuring given the
underlying cash flows. During 2004 we spent £2.1m
more than last year on fixed assets, primarily due to
the purchase of the long leasehold interest of the
commissary in Naas. Furthermore, we bought back
shares at a cost of £1.6m, had higher outflows of
£0.6m in tax and £0.9m in dividends but still increased
cash balances by £1.1m. 
During the year options over 2.4m shares were 
exercised generating a cash inflow of £1.1m 
(2003: £1.0m). 
Towards the end of the year, the Employee Benefit
Trust (“EBT”) granted further reversionary interests 
in 600,000 of the Company’s shares which were 
purchased by the EBT at a cost of £1.2m. This was
financed by a further bank loan of £1.2m guaranteed
by the Company. The EBT now holds a total of
3,599,921 shares financed by the bank loan of 
£6.4m (2003: £5.2m). The Company has adopted 
the accounting treatment of UITF 38, Accounting 
for ESOP Trusts. The full cost of the shares has 
been deducted from shareholders’ funds, with the
debt being consolidated into the Group’s balance sheet.
During the year DP Capital extended the leasing 
support provided to franchisees for the fit-out of 
new stores and the refit of existing stores, with new
advances of £0.9m. After repayments, the balance
outstanding at the year-end from this activity was
£2.9m (2003: £3.1m). These facilities are financed by
a limited recourse loan facility and the amount drawn
down at the year-end stood at £2.6m (2003: £2.7m).
At the year-end, the Group had consolidated debt 
of £9.0m (2003: £8.0m) all of which related to the
EBT loan and financing for DP Capital referred to
above. After taking into account cash balances, 
net borrowings at the year-end stood at £4.2m 
(2003: £4.2m) representing 31.7% (2003: 39.7%) 
of shareholders’ funds.
Although adoption of IFRS will only be mandatory for
AIM listed companies from 2007, we have already
made a preliminary assessment of the impact on the
Group. Our evaluation has highlighted that the adoption
of IFRS is not expected to have any significant impact
on the Group’s reported results. 
Annual Report & Accounts 2004 7
28,000,000
doughballs were 
produced and distributed
during the year
Our distribution network
covered over 2 million km
during the year supplying
our stores with fresh 
produce.
CORRDominos Colour sec a/w  30/3/05  16:07  Page 7 Chief Executive’s Report
CORPORATE STORES
In recent years we have been exploring different
structures to enable our shareholders to benefit 
from the significant profitability and exceptional
returns on capital that can be obtained from a well-run
Domino’s Pizza store. Past experience has shown us
that corporate ownership can dull the entrepreneurial
spirit that is essential to that success, and impose
overheads, that in a smaller business, might be 
avoided. We have, therefore, been exploring a 
number of alternatives, including joint ventures, to
see if the partnership of corporate strength and the
entrepreneurialism of a franchisee who has invested his
or her own money into the business can reproduce
the success experienced by so many of our franchisees.
The results to date from our current joint ventures
have been encouraging and, as a result, we have
determined to incorporate most of the existing 
corporate stores into joint ventures. 
We will attempt to establish as many of the 
joint ventures as possible using third party debt 
funding so that your Company’s role will be that 
of an equity partner. This will enable us to maximise
our returns and obtain the return of much of the 
capital previously invested. This will then become
available for reinvestment in the core business or
returned to shareholders.
LEADING THE MARKET
In 2004, the take-away and home-delivered food 
market in the UK was estimated by Mintel to be worth
£5.2bn, of which home delivery now constitutes 24%.
The total value of the home delivered food market in
the UK has increased in value by 62% since 1999 and
is now estimated to be around £1.2bn. Pizza currently
accounts for 43% of the home delivered food market
and we estimate that Domino’s can claim to deliver
approximately one in ten home delivered meals in 
the UK.
Research suggests that the home delivery market 
will be worth in excess of £1.8bn by 2009 and this
growth will be driven by continued pressure on 
consumers’ time coupled with increasing access to
convenient technologies that offer online, interactive
and SMS ordering of home delivered food.
There has been considerable recent debate on the
issue of healthy eating which has prompted us to
review our responsibilities in this area. We believe
that we have a role to play in supporting Government
efforts to increase public health and awareness of
nutritional issues. Your Company believes that its main
responsibility is to provide customers with high quality
food, about which they can access full information,
and provide a menu which includes options to suit 
different lifestyles and dietary needs. The introduction
in 2004 of reduced fat cheese, ‘Delight’ mozzarella, 
is a demonstration of this approach in action and 
we will continue to reinforce our commitment in
these areas. 
Through constant and close monitoring of the world in
which we operate, and through innovation and practical
changes that benefit our customers, I am confident
that Domino’s Pizza will continue to strengthen its
leadership of the home delivered food market.
BUILDING THE BRAND 
Brand-building activity continued to be an important
focus in 2004, both externally to customers and 
internally to our own people.
The strength of our National Advertising Fund was
leveraged with creative, high impact and closely 
targeted campaigns throughout the year, culminating
in a highly successful launch for our new gourmet pizza,
Double Decadence™. These campaigns benefited
from the continued support of our sponsorship of 
The Simpsons on Sky One which ensures our brand
has a continuous presence in homes across the UK
and Ireland at peak pizza-ordering time.
Direct mail and local store marketing, which includes
the distribution of over 150 million menus each 
year, are mainstays of our marketing activity and 
are complemented by the efforts of our franchisees
to foster local loyalty through positive community 
relations campaigns.
Our e-commerce platforms go from strength to
strength with sales in 2004 ahead by 41% on the
prior year. Sales through the internet and interactive
TV accounted for 5.2% of sales in the UK (2003: 4.5%). 
8 Domino’s Pizza UK & IRL plc
087 12 12 12 12
our one number solution
Our e-commerce platforms
go from strength to
strength with sales in
2004 ahead by 41%.
CORRDominos Colour sec a/w  30/3/05  16:07  Page 8 Annual Report & Accounts 2004 9
At the touch of a button
The first-mover advantage we enjoyed after becoming the
first pizza delivery company in the world to offer nationwide
online and interactive TV ordering still pays dividends. With
so much added convenience for customers, rapid growth in
our e-commerce sales comes as no surprise. Our updated
website (www.dominos.co.uk) launched in 2004, enabling
customers to order pizza in seconds and ordering from us
through Sky Active requires a few clicks on a remote control!
CORRDominos Colour sec a/w  30/3/05  16:07  Page 9 Commitment to the community
A top priority for Domino’s Pizza is to deliver more than
just great-tasting pizza to the communities we serve. 
We do this in a number of ways – through sympathetic
store design, responsible operations and support for
local charities and groups. Our franchisees understand
that, at the heart of a successful Domino’s business,
there is a successful relationship with the community.
10 Domino’s Pizza UK & IRL plc
CORRDominos Colour sec a/w  30/3/05  16:07  Page 10 Chief Executive’s Report
CURRENT TRADING AND PROSPECTS 
Trading in the first six weeks of the current year has
got off to a good start with like-for-like sales up 6.6%.
In the same period, e-commerce sales are 49% ahead
of last year. Our store opening programme is also well
on track to achieve our targets. 
Our strategy remains the roll-out of new stores and
the growth of like-for-like sales, whilst maintaining
tight control of overheads. Achievement of this 
strategy will allow us to generate significant amounts
of cash which, in the absence of any business need,
will be returned to shareholders. We have made a
promising start to 2005 in the achievement of all
these objectives and, therefore, look forward to the
year with confidence. 
CONCLUSION AND THANKS
At the heart of your Company’s success is our 
highly-focused approach – the delivery of hot, high
quality pizza on time. Fulfilling this simple promise
every day is a dedicated team of corporate and 
in-store team members to whom I offer my thanks
and respect.
In particular, I should like to thank our franchisees.
These men and women are the engine of our 
organisation and their enterprise, enthusiasm and
round-the-clock dedication sets the pace for the 
rest of our business. 
Stephen Hemsley
Chief Executive
Annual Report & Accounts 2004 11
80%
of our packaging is made
from recycled paper
Domino’s Pizza Group Ltd
has selected Make-A-Wish
Foundation
®
UK, which
grants wishes to children
with life threatening 
diseases, as its charity 
of choice. In Ireland, we
support Barretstown, the
children’s charity which
provides medically
endorsed programmes 
of arts, adventure and 
fun activities for children
with serious illnesses.
CORRDominos Colour sec a/w  30/3/05  16:07  Page 11 Board of Directors
12 Domino’s Pizza UK & IRL plc
Directors
1. Colin Halpern
Executive Chairman
2. Stephen Hemsley
Chief Executive
3. Lee Ginsberg
Finance Director (Appointed 1 November 2004)
4. Christopher Moore
Sales and Marketing Director 
5. Nigel Wray
Non-Executive
6. Gerald Halpern
Non-Executive
7. John Hodson
Non-Executive (Appointed 14 February 2005)
Secretary
Andrew Mallows (Resigned 1 November 2004)
Lee Ginsberg (Appointed 1 November 2004)
12 3
56 7
4
CORRDominos Colour sec a/w  30/3/05  16:08  Page 12 Annual Report & Accounts 2004 13
Advisors
Nominated advisor and broker
Numis Securities Limited
Cheapside House
138 Cheapside
London EC2V 6LH
Auditors
Ernst & Young LLP
400 Capability Green
Luton LU1 3LU
Bankers
National Westminster Bank PLC
Exchange House
478 Midsummer Boulevard
Milton Keynes MK9 2EA
Solicitors
McDermott Will and Emery
7 Bishopsgate
London EC2N 3AQ
Registrars
Capita Registrars
Bourne House
34 Beckenham Road
Beckenham
Kent BR3 4TU
Registered Office
Domino’s House
Lasborough Road
Kingston
Milton Keynes MK10 0AB
CORR dominos financials -1 a/w  30/3/05  15:54  Page 13 14 Domino’s Pizza UK & IRL plc
Report on the Directors’ Remuneration
The Remuneration Committee consists of Nigel Wray and Colin Halpern. It has the primary responsibility to review the performance of 
executive directors and similar employees and set the scale and structure of their remuneration.
Service agreement
Stephen Hemsley, Lee Ginsberg and Christopher Moore have entered into service agreements with the Company, which are subject to a
twelve months notice by the Company. The remuneration packages consist of basic salary, pension contributions, health and life insurance
benefits and the use of a Company car or cash equivalent allowance.
Colin Halpern is seconded to the Company from International Franchise System Inc. (“IFS”) as executive chairman under the terms of a 
management agreement. The agreement is reviewed annually and the level of compensation paid to IFS agreed by the Remuneration Committee.
The non-executive directors are appointed on three-year agreements with the Company terminable at one weeks notice. Fees for non-executive
directors are set by the Board.
Directors’ remuneration
Pension
Salary or fees Bonus Benefits contributions Total Total
53 weeks 53 weeks 53 weeks 53 weeks 53 weeks 52 weeks
ended ended ended ended ended ended
2 January 2 January 2 January 2 January 2 January 28 December
2005 2005 2005 2005 2005 2003
£000 £000 £000 £000 £000 £000
EXECUTIVE DIRECTORS:
Colin Halpern 196 – 36 200 432 421
Stephen Hemsley 196 139 24 20 379 352
Lee Ginsberg 26 14 2 – 42 –
Christopher Moore 144 83 1913 259 246
NON-EXECUTIVE DIRECTORS:
Gerald Halpern 48––– 48 55
Nigel Wray 24––– 24 24
Yoav Gottesman 15––– 15 48
649 236 81 233 1,199 1,146
The value of benefits relates primarily to the provision of Company car or equivalent allowance. Colin Halpern is not remunerated by the 
Company. A management fee of £196,000 (2003: £185,000) was paid to IFS in respect of his services. Mr Halpern has indicated his intention 
to retire on his 70th birthday, which falls in 2007. In view of this the Remuneration Committee has determined to make pension contributions
not previously paid during his previous eleven years of chairmanship of the Company. Accordingly, the first of these contributions, amounting
to £200,000, was made in 2003 and a pension contribution of £200,000 was also paid to IFS in 2004, with a further payment of £100,000
approved in 2005.
Gerald Halpern is not directly remunerated by the Company. A management fee of £48,000 (2003: £55,000) was paid to Chinese Pompano Inc, 
a company of which Gerald Halpern is a director, in respect of his services.
Nigel Wray is not directly remunerated by the Company. A management fee of £24,000 (2003: £24,000 ) was paid to Brendon Street Investments
Limited, a company of which Nigel Wray is a director, in respect of his services. 
The Company makes contributions of up to 10% of annual basic salary to personal pension plans of Stephen Hemsley, Lee Ginsberg and
Christopher Moore.
Remuneration in 2003 included £19,000 for Stephen Hemsley and £13,000 for Christopher Moore in respect of pension contributions.
In 2003 a bonus of £129,000 was paid to Stephen Hemsley and £78,000 was paid to Christopher Moore.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 14 Annual Report & Accounts 2004 15
Interest in options 
The interests of the directors under the Company’s share option scheme are as follows:
As at As at
Exercise 28 December Granted Exercised 2 January
Director Date of grant price 2003 in year in year 2005
Christopher Moore 31 March 1999 42.1p 415,654 – 415,654 –
Christopher Moore 24 November 1999 50.00p 207,827 – 207,827 –
Christopher Moore 4 August 2000 53.00p 90,000 – 90,000 –
Christopher Moore 1 January 2001 33.50p 278,794 – 278,794 –
Gerald Halpern 31 March 1999 42.1p 519,568 – 519,568 –
Gerald Halpern 24 November 1999 50.00p 80,432 – 80,432 –
Details of the exercise criteria for share options is contained in note 20.
Christopher Moore exercised a total of 992,275 options in October 2004, at a share price of 200.00p. The net gain from these exercised 
options was £1,565,000. Gerald Halpern exercised a total of 600,000 options in April 2004, at a share price of 190.00p. The net gain from these
exercised options was £875,000. The total net value of these exercised options was £679,000.
In 2003, Stephen Hemsley exercised a total of 1,290,561 options at a share price of 188.25p. The net gain from these exercised options was
£1,805,000. Gerald Halpern exercised a total of 153,482 options in 2003 at a share price of 181.75p. The net gain from these exercised options
was £198,000. Yoav Gottesman exercised a total of 346,379 options in 2003 at a share price of 169.375p. The net gain from these options was
£432,000. The total net value of these exercised options was £2,435,000.
The Remuneration Committee has resolved that the exercise of these options which have been granted under the share option schemes 
will be subject to the condition that the growth in normalised earnings per share in any financial year between grant and vesting exceeds 
the growth in the Retail Price Index in the previous financial year by at least 5%.
In addition to the interest in options above, Stephen Hemsley and Christopher Moore hold reversionary interests over 2,000,000 and 
590,000 shares respectively in Domino’s Pizza UK and IRL plc. These interests are capable of vesting between 31 December 2005 and 
31 December 2007 if specific performance criteria are met. These interests were granted at a price of 135 pence per share.
During the year a further reversionary interest was granted to Lee Ginsberg and Christopher Moore of 375,000 shares and 160,000 shares 
in Domino’s Pizza UK and IRL plc. respectively. These interests are capable of vesting between 31 December 2006 and 31 December 2009 if
specific performance criteria are met. These interests were granted at a price of 200 pence per share.
The market price of the Company’s shares on 2 January 2005 was 230 pence per share and the high and low share prices during the year 
were 235 pence and 190 pence respectively.
Report on the Directors’ Remuneration
CORR dominos financials -1 a/w  30/3/05  15:54  Page 15 16 Domino’s Pizza UK & IRL plc
Directors’ Report
The directors present their report and the Group accounts for the 53 weeks ended 2 January 2005.
Results and dividends
The Group profit for the 53 weeks, after taxation and minority interests amounted to £6,731,000 (2003: £4,559,000). The directors recommend 
a final ordinary dividend of 3.05 pence amounting to £1,531,000 making a total dividend for the year of £2,688,000 (2003: £1,757,000). 
The final ordinary dividend, if approved, will be paid on the 29 April 2005 to ordinary shareholders whose names appear on the register on
the 15 April 2005.
Principal activity and review of the business
The principal activity of the Group is the development of the Domino’s franchise system in the United Kingdom and Republic of Ireland.
The review of the business is contained in the Chief Executive’s Report on pages 4 – 11.
Directors and their interests
The directors during the year under review and their interest in the share capital of the Company, other than with respect to options to 
acquire ordinary shares (which are detailed in the analysis of options included in the Report on Directors’ Remuneration) were as follows:
At At
2 January 28 December
2005 2003
Ordinary Ordinary
shares shares
Colin Halpern (i) 10,155,497 12,155,497
Stephen Hemsley (ii) 2,500,000 2,500,000
Christopher Moore 779,510 103,235
Nigel Wray (iii) 14,164,725 14,164,725
Gerry Halpern 50,000 50,000
Yoav Gottesman 409,000 700,000
(i) 9,679,405 are held by International Franchise Systems Inc., beneficially for HS Real Company LLC and 476,092 shares are held by 
HS Real Company LLC (HS Real Company LLC is owned by a discretionary trust, the beneficiaries of which are the adult children of 
Colin and Gail Halpern).
(ii) 1,209,439 shares are held by CTG Investment Limited, a discretionary trust of which Stephen Hemsley and his family are potential 
beneficiaries.
(iii) 7,614,000 shares are held by Abacus (CI) Ltd, which is beneficially owned by the family trusts of Nigel Wray, principal beneficiaries 
of which are Nigel Wray’s children. 6,055,439 shares are held by Syncbeam Limited, a company wholly owned by Nigel Wray.
During the period from the end of the financial year to 28 February 2005, there have been no changes in directors’ shareholdings or their
interests in share options.
Other significant shareholders
Directors’ interests in the shares of the Company have been disclosed above. The other significant shareholders holding more than 3% of 
the shares in the Company, which have been disclosed to the Company are FMR Corporation and its direct and indirect subsidiaries and
Fidelity International Limited and its direct and indirect subsidiaries which holds a 9.8% interest, Ogier Employee Benefit Trustee Limited
acting as trustee of the Domino’s Pizza UK & IRL Plc Employee Benefit Trust which holds a 6.6% interest and Moonpal Singh Grewal who 
is the beneficial holder of a 3.9% interest. 
Share option schemes
In order to provide employee share incentives, the Group had previously adopted two share option schemes, one of which, the Domino’s
Pizza Group Limited (Unapproved) Share Option Scheme, has been in place since 30 March 1999. The Domino’s Pizza Share Option
(Unapproved) Scheme was introduced on 24 November 1999. 
All participants in the Domino’s Pizza Group Limited (Unapproved) Share Option Scheme were, on Admission of the Company to the AIM,
offered the chance to release their options over shares in Domino’s Pizza Group Limited in return for equivalent options over ordinary shares
in the Company under the Domino’s Pizza Share Option (Unapproved) Scheme. Further details of options outstanding at the year-end are
contained in note 20.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 16 Annual Report & Accounts 2004 17
The Remuneration Committee has resolved that the exercise of these options which have been granted under the share option schemes will 
be subject to the condition that the growth in normalised earnings per share in any financial year between grant and vesting exceeds the
growth in the Retail Price Index in the previous financial year by at least 5%.
On 23 March 2004 the Company established the Domino’s Pizza UK & IRL plc 2003 Enterprise Management Incentive Scheme. Under the
scheme the Company can grant options to eligible full time employees. For details of the options granted and outstanding see note 20.
Company share buyback programme
During the year the Company commenced its programme of buying back its own shares. A total of 800,000 shares of 5 pence each were
purchased during the year at a total cost of £1,600,000 before expenses. The reason for the purchase of these shares is that the Company 
has generated surplus cash and this is being returned to shareholders in the form of an enhanced dividend policy and share buybacks. 
These shares have been cancelled and no longer form part of the Company’s issued share capital.
Creditor payment policy 
It is the Group’s policy that payments to suppliers are made in accordance with those terms and conditions agreed between the Company 
and its suppliers, provided that all trading terms and conditions have been complied with. At 2 January 2005, the Group had an average of 
25 days (2003: 31 days) purchases outstanding in trade creditors. 
Corporate governance
The directors acknowledge the principles set out in the Combined Code issued by the committee on Corporate Governance and considers the
main provisions in-so-far as they are appropriate to the Company. At present the main facets are:
• The Board – at the year end the Company had four executives and two non-executive directors. The directors hold regular Board meetings
at which operating and financial reports are considered. The Board is responsible for formulating, reviewing and approving the Group’s
strategy, budgets, and major items of capital expenditure and senior personnel appointments.
• Audit Committee – which consists of Nigel Wray and Colin Halpern. It meets at least twice each year and is responsible for ensuring that
the financial performance of the Group is properly reported on and monitored, for meeting the auditors and reviewing the reports from
the auditors relating to accounts and internal control systems.
• Remuneration Committee – which consists of Nigel Wray and Colin Halpern. It meets at least twice each year and has a primary
responsibility to review the performance of executive directors and senior employees and set the scale and structure of their 
remuneration having due regard to the interests of shareholders. It also has responsibility for administering the share option schemes.
• Going Concern – the directors are satisfied that the Group has adequate resources to continue in existence for the foreseeable future and
for this reason, they continue to adopt the going concern basis of preparing the accounts.
• Internal Control –  the directors have overall responsibility for ensuring that the Group maintains internal controls to provide reasonable
assurance on the reliability of the financial information used within the business and for safeguarding the assets. There are limitations in
any system of internal controls and accordingly, even the most effective system can only provide reasonable and not absolute assurance
with respect to preparation of the financial information and the safeguarding of the assets.
The key elements of financial control are as follows:
• Control Environment – the presence of a clear organisational structure and well-defined lines of responsibility and delegation of appropriate
levels of authority.
• Risk Management – business strategy and plans are reviewed by the Board.
• Financial Reporting – a comprehensive system of budgets and forecasts with monthly reporting of actual results against targets.
• Control Procedures and Monitoring Procedures – ensuring authorisation levels and procedures and other systems of internal financial 
controls are documented, applied and regularly reviewed.
Directors’ Report
CORR dominos financials -1 a/w  30/3/05  15:54  Page 17 18 Domino’s Pizza UK & IRL plc
Directors’ Report
Statement of directors’ responsibilities
Company law requires the directors to prepare accounts for each financial year, which give a true and fair view of the state of affairs of the
Company and of the Group and of the profit or loss of the Group for that period. In preparing those accounts, the directors are required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the
accounts; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial 
position of the Group and to enable them to ensure that the accounts comply with the Companies Act 1985. They are also responsible for
safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Employees
Employees of Group companies are encouraged to participate in the success of the business through incentive and share option schemes.
Progress is regularly communicated to the management of subsidiary companies and all management and staff are expected to communicate
fully within their own area of responsibility. 
Disabled employees
The Group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately
fulfilled by a handicapped or disabled person.
Where existing employees become disabled, it is the Group’s policy wherever practicable, to provide continuing employment under normal
terms and conditions and to provide training, career development and promotion to disabled employees wherever appropriate.
Corporate social responsibility and charitable donations
Domino’s Pizza is committed to delivering the highest standards of product, service, image and safety for our franchisees, team members,
customers, the communities we serve and all other stakeholders affected by our operations. 
Furthermore, we strive to be an equal opportunities employer and are committed to investing in our team members through market-leading
remuneration, training and development. Our franchisees are contracted to adhere to high standards of employment practice.
The Company also ensures that its rapid expansion plans are underpinned by a culture of ‘Responsible Growth’. This means that we aim to
earn the respect, admiration and trust of local people and authorities by taking a responsible attitude towards the environment, construction,
planning and local regeneration. 
In 2004, the Company’s charity of choice was the Make-A-Wish Foundation
®
UK, an inspiring charity that grants the wishes of children 
who are living with life-threatening illnesses. As well as donating £20,000 lump sum to Make-A-Wish
®
, the Group’s franchisees and stores
undertook a wide range of fund-raising activities throughout the year.
Auditors
A resolution to re-appoint Ernst & Young LLP as the Company’s auditor will be put to the forthcoming Annual General Meeting. 
By order of the Board
Lee Ginsberg
Secretary
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Independent Auditors’ Report
to the members of Domino’s Pizza UK & IRL plc
We have audited the Group’s financial statements for the 53 weeks ended 2 January 2005 which comprise the Group profit and loss account,
Group statement of total recognised gains and losses, Group balance sheet, Company balance sheet, Group statement of cash flows and the
related notes 1 to 26. These financial statements have been prepared on the basis of the accounting policies set out therein.
This report is made solely to the Company’s members, as a body, in accordance with Section 235 of the Companies Act 1985. 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 an auditors’
report 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.
Respective responsibilities of directors and auditors
As described in the Statement of Directors’ Responsibilities the Company’s directors are responsible for the preparation of the financial 
statements in accordance with applicable United Kingdom law and accounting standards.
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom 
Auditing Standards.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with
the Companies Act 1985. We also report to you if, in our opinion, the Directors’ Report is not consistent with the financial statements, if the
Company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or 
if information specified by law regarding directors’ remuneration and transactions with the Group is not disclosed.
We read the Directors’ report, the Chairman’s statement and the Chief Executive’s report and the Report on Director’s Remuneration and 
consider the implications for our report if we become aware of any apparent misstatements within it.
Basis of audit opinion
We conducted our audit in accordance with United Kingdom Auditing Standards issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of
the significant estimates and judgements made by the directors in the preparation of the financial statements, and of whether the accounting
policies are appropriate to the Group’s circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide
us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused 
by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the
financial statements.
Opinion
In our opinion the financial statements give a true and fair view of the state of affairs of the Company and of the Group as at 2 January 2005
and of the profit of the Group for the year then ended and have been properly prepared in accordance with the Companies Act 1985.
Ernst & Young LLP
Registered Auditor
Luton
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Group Profit and Loss Account
for the 53 weeks ended 2 January 2005
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
Notes £000 £000
TURNOVER
Turnover: group and share of joint ventures’ turnover 77,254 64,369
Less: share of joint ventures’ turnover (3,039) (2,812)
GROUP TURNOVER 2 74,215 61,557
Cost of sales (43,815) (34,101)
GROSS PROFIT 30,400 27,456
Distribution costs (8,404) (7,805)
Administrative expenses – pre-exceptional (12,963) (13,253)
Administrative expenses – exceptional – (532)
Administrative expenses (12,963) (13,785)
GROUP OPERATING PROFIT 3 9,033 5,866
Share of operating profit in joint venture 120 105
Amortisation of goodwill on joint venture (15)   (5)
105 100
TOTAL OPERATING PROFIT: GROUP AND SHARE OF JOINT VENTURE 9,138 5,966
(Loss)/profit on sale of fixed assets (47) 775
PROFIT ON ORDINARY ACTIVITIES BEFORE INTEREST AND TAXATION 9,091 6,741
Interest receivable 100 81
Interest payable and similar charges 6 (370) (285)
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION 8,821 6,537
Tax on profit on ordinary activities 7 (2,058) (1,958)
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION 6,763 4,579
Minority interests (32) (20)
PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO MEMBERS OF THE PARENT COMPANY 6,731 4,559
Dividends on equity shares 8 (2,688) (1,757)
PROFIT RETAINED FOR THE FINANCIAL YEAR 4,043 2,802
Earnings per share – basic 9 13.23p 9.02p
– diluted 12.67p 8.39p
There are no recognised gains and losses other than the profit reported above.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 20 Annual Report & Accounts 2004 21
Group Balance Sheet
at 2 January 2005
At At
2 January 28 December
2005 2003
Notes £000 £000
FIXED ASSETS
Intangible assets 10 1,520 1,430
Tangible assets 11 14,595 12,293
Investments in joint venture: 12
Share of gross assets 1,449 1,582
Share of gross liabilities (1,066) (1,243)
383 339
TOTAL FIXED ASSETS 16,498 14,062
CURRENT ASSETS
Stocks 13 2,700 1,843
Debtors: 14
amounts falling due within one year 10,735 9,197
amounts falling due after more than one year 2,721 3,036
13,456 12,233
Cash at bank and in hand 4,824 3,721
TOTAL CURRENT ASSETS 20,980 17,797
CREDITORS: amounts falling due within one year 15 (15,121) (13,380)
NET CURRENT ASSETS 5,859 4,417
TOTAL ASSETS LESS CURRENT LIABILITIES 22,357 18,479
CREDITORS: amounts falling due after more than one year 16 (8,102) (7,119)
PROVISION FOR LIABILITIES AND CHARGES 7 (857) (630)
13,398 10,730
CAPITAL AND RESERVES
Called up share capital 20 2,740 2,660
Share premium account 21 4,241 3,290
Capital Redemption Reserve 21 40 –
Own shares held by Employee Benefit Trust 21 (6,360) (5,160)
Profit and loss account 21 12,655 9,890
Equity shareholders’ funds 13,316 10,680
Minority interest 82 50
13,398 10,730
Stephen Hemsley
Director
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Company Balance Sheet
at 2 January 2005
At At
2 January 28 December
2005 2003
Notes £000 £000
FIXED ASSETS
Investments in subsidiary undertakings 12 2,595 2,595
Investments in joint venture 12 205 205
2,800 2,800
CURRENT ASSETS
Debtors 14 12,118 9,394
12,118 9,394
CREDITORS: amounts falling due within one year 15 (1,537) (1,084)
NET CURRENT ASSETS 10,581 8,310
TOTAL ASSETS LESS CURRENT LIABILITIES 13,381 11,110
CREDITORS: amounts falling due more than one year 16 (6,360) (5,160)
7,021 5,950
CAPITAL AND RESERVES
Called up share capital 20 2,740 2,660
Share premium account 21 4,241 3,290
Capital Redemption Reserve 21 40 –
Own shares held by Employee Benefit Trust 21 (6,360) (5,160)
Profit and loss account 21 6,360 5,160
Equity shareholders’ funds 7,021 5,950
Stephen Hemsley
Director
CORR dominos financials -1 a/w  30/3/05  15:54  Page 22 Annual Report & Accounts 2004 23
Group Statement of Cash Flows
for the 53 weeks ended 2 January 2005
53 weeks 52 weeks
ended ended
2 January 28 December
2005 2003
Notes £000 £000
NET CASH INFLOW FROM OPERATING ACTIVITIES 23(a) 9,943 8,010
RETURNS ON INVESTMENTS AND SERVICING OF FINANCE
Interest received 100 81
Interest paid (308) (183)
Interest element of finance lease payments (7) (8)
(215) (110)
TAXATION
Corporation tax paid (2,021) (1,407)
CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT
Payments to acquire intangible fixed assets (200) (239)
Payments to acquire tangible fixed assets (3,905) (1,783)
Receipts from sales of tangible and intangible fixed assets 417 4,075
Receipts from repayment of joint venture loan 108 78
Payments to acquire finance lease assets and advance of franchisee loans (946) (2,030)
Receipts from repayment of finance leases and franchisee loans 1,098 936
(3,428) 1,037
ACQUISITIONS AND DISPOSALS
Purchase of subsidiary undertaking and un-associated businesses (280) 30
(280) 30
EQUITY DIVIDENDS PAID (2,235) (1,297)
NET CASH INFLOW BEFORE FINANCING 1,764 6,263
FINANCING
Issue of ordinary share capital 1,071 1,009
New long-term loans 3,299 6,757
Repayments of long-term loans (2,198) (8,984)
Repayment of capital element of finance leases and hire purchase contracts (23) (49)
Purchase of shares by Employee Benefit Trust (1,200) (5,160)
Purchase of own shares (1,610) –
(661) (6,427)
INCREASE/(DECREASE) IN CASH 23(c) 1,103 (164)
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Notes to the Financial Statements
at 2 January 2005
1. ACCOUNTING POLICIES
Basis of preparation 
The accounts are prepared under the historical cost convention and in accordance with applicable accounting standards.
Basis of consolidation
The Group accounts consolidate the accounts of Domino’s Pizza UK & IRL plc and all its subsidiary undertakings drawn up to the nearest
Sunday to 30 December each year. No profit and loss account is presented for Domino’s Pizza UK & IRL plc as permitted by Section 230 of 
the Companies Act 1985.
Entities in which the Group holds an interest on a long-term basis and are jointly controlled by one or more ventures under a contractual
agreement are treated as joint ventures in the Group accounts. Joint ventures are accounted for using the gross equity method. The 
Group accounts include the appropriate share of assets and liabilities and earnings, based on management accounts for the period to 
2 January 2005.
Goodwill
Positive goodwill arising on acquisitions of a subsidiary, associate or business is capitalised, classified as an asset on the balance sheet and
amortised on a straight-line basis over its estimated useful economic life up to 20 years. It is reviewed for impairment at the end of the first
full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may 
not be recoverable.
If a subsidiary, associate or business is subsequently sold or closed, any goodwill arising on acquisition that has not been amortised through
the profit and loss account is taken into account in determining the profit or loss on sale or closure.
Intangible assets
Intangible assets acquired separately from a business are capitalised at cost. Intangible assets acquired as part of an acquisition of a 
business are capitalised separately from goodwill if the fair value can be measured reliably on initial recognition, subject to the constraint
that, unless the asset has a readily ascertainable market value, the fair value is limited to an amount that does not create or increase any
negative goodwill arising on the acquisition. Intangible assets created within the business are not capitalised and expenditure is charged
against profits in the year in which it is incurred.
Intangible assets are amortised on a straight-line basis over their estimated useful lives as follows:
Franchise fees – over 20 years
Interest in leases – over the life of the lease
The carrying value of intangible assets is reviewed for impairment at the end of the first full year following acquisition and in other periods 
if events or changes in circumstances indicate the carrying value may not be recoverable.
Significant property developments
Interest incurred on finance provided for significant property development is capitalised up to the date of completion of the project. 
These costs are then depreciated in accordance with the Group’s policy for the relevant class of tangible fixed assets.
Depreciation
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less residual value of each asset evenly over its
expected useful life as follows: 
Freehold buildings – over 50 years
Equipment – over 2 to 10 years
Leasehold building improvements – over the life of the lease 
Motor vehicles – over 18 months to 3 years
The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate that the
carrying value may not be recoverable.
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Notes to the Financial Statements
at 2 January 2005
1. ACCOUNTING POLICIES (continued)
Stocks
Stocks comprise raw materials, consumables and goods for resale (being equipment for resale to franchisees) and are stated at the lower of
cost and net realisable value. Cost of stock is determined on the average cost basis or, for computer and food stock, the first-in, first-out basis.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where
transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more, tax, 
with the following exceptions:
• Provision is made for tax on gains from the revaluation (and similar fair value adjustments) of fixed assets, or gains on disposal of 
fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding
agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the 
balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only
where the replacement assets are sold.
• Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable
taxable profits from which the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences
reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction or at the contracted rate if the transaction 
is covered by a forward foreign currency contract. Monetary assets and liabilities denominated in foreign currencies are retranslated at 
the rate of exchange ruling at the balance sheet date or if appropriate at the forward contract rate. All differences are taken to the profit 
and loss account.
Leasing and hire purchase commitments
As lessee
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed 
to the Group, and hire purchase contracts, are capitalised in the balance sheet and depreciated over their useful lives. The capital elements 
of future obligations under leases and hire purchase contracts are included as liabilities in the balance sheet. The interest elements of the
rental obligations are charged in the profit and loss account over the periods of the leases and hire purchase contracts and represent a
constant proportion of the balance of capital repayments outstanding.
Rentals payable under operating leases are charged in the profit and loss account on a straight-line basis over the lease term.
As lessor
Amounts receivable under finance leases are included under debtors and represent the total amount outstanding under lease agreements 
less unearned income. Finance lease income, having been allocated to accounting periods to give a constant periodic rate of return on 
the net cash investment is included in turnover. Income and expenditure from the rental of leasehold properties and equipment have been
included in the gross income in turnover and the related expenditure within cost of sales. 
Employee Benefit Trusts
The Company has adopted UITF 38 Accounting for ESOP Trusts. Shares in the Company held by the trustees of the Employee Benefit Trust 
are stated at cost and included as a deduction to shareholders’ funds. The trust has waived its entitlement to dividends. The Group will 
meet the expenses of the trust as and when they fall due. When options are granted the difference between market price and the grant 
price is amortised to the profit and loss account over the performance period.
Exchange of non-monetary assets
Exchange of non-monetary assets for an interest in joint venture, associate or subsidiary is accounted for in accordance with UITF 31. 
Gains are recognised to the extent that the fair value of consideration received exceeds that part of the non-monetary assets no longer
owned, including related goodwill. If the gain is unrealised, this is reported in the Statement of Total Recognised Gains and Losses.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 25 26 Domino’s Pizza UK & IRL plc
1. ACCOUNTING POLICIES (continued)
Pensions
The Company makes contributions to certain individuals’ personal pension plans. Contributions are charged in the profit and loss account 
as they become payable. 
Revenue recognition
Revenue is recognised as follows:
Pizza delivery – on delivery
Commissary and equipment sales – on delivery
Royalties (based on system sales) – on delivery
Franchise sales – on commencement of franchisee trading
Finance lease interest income – on commencement of franchisee trading
Rental income on leasehold properties – on a straight line basis in accordance with the lease terms
2. TURNOVER AND SEGMENTAL ANALYSIS
The principal components of turnover are royalties received, commissary and equipment sales, sale of franchises, pizza delivery sales, rental
income on leasehold properties and finance lease interest income, stated net of value added tax after eliminating inter-company transactions.
All of the turnover is in one continuing business segment being the development on the Domino’s Pizza Franchise System and originates in
the United Kingdom and the Republic of Ireland. The directors believe that full compliance with the requirements of SSAP 25 ‘Segmental
Reporting’ would be seriously prejudicial to the interests of the Group as it would require disclosure of commercially sensitive information.
All of the turnover of the Joint Ventures relates to the United Kingdom.
Geographical analysis
Turnover Turnover Turnover by Turnover by
by origin by origin destination destination
53 weeks 52 weeks 53 weeks 52 weeks
ended ended ended ended
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000
Group turnover
United Kingdom 68,913 57,925 68,041 57,303
Republic of Ireland 5,302 3,632 6,174 4,254
74,215 61,557 74,215 61,557
3. OPERATING PROFIT
This is stated after charging/(crediting):
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Auditors’ remuneration – audit services* 94 84
– non-audit services 154 232
Depreciation of owned assets 1,329 1,152
Depreciation of assets held under finance leases and hire purchase contracts 57 58
Amortisation of intangible fixed assets 133 180
Operating lease rentals – land and buildings 5,536 4,430
– plant, machinery and vehicles 1,329 1,282
Rental income on leasehold property (5,462) (4,376)
Foreign exchange profit (25) (118)
* Of which £2,000 (2003: £2,000) relates to the Company
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 26 Annual Report & Accounts 2004 27
Notes to the Financial Statements
at 2 January 2005
3. OPERATING PROFIT (continued)
Exceptional items
Recognised in operating profit
During 2003, the Group incurred expenses of £532,000 in setting up the Employee Benefit Trust and making a tender offer of shareholders to
buy shares. This was settled in cash in 2003 and included in operating cash outflow.
Recognised below operating profit 
The Group sold two corporate stores and realised a loss on disposal of £56,000 (2003: profit £775,000). In addition a profit of £9,000 was
realised on the disposal of a joint venture store.
4. DIRECTORS’ EMOLUMENTS
53 weeks  52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Emoluments 966 914
Pension contributions 233 232
1,199 1,146
Further information concerning directors’ emoluments are disclosed within the report on Director’s Remuneration.
5. STAFF COSTS
53 weeks  52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Wages and salaries 10,403 10,087
Social security costs 942 888
Other pension costs 330 314
11,675 11,289
The average monthly number of employees (including directors) during the year was made up as follows: 
53 weeks  52 weeks 
ended ended
2 January 28 December
2005 2003
No. No.
Administration 112 98
Production and distribution 133 112
Corporate stores 471 550
716 760
CORR dominos financials -1 a/w  30/3/05  15:54  Page 27 28 Domino’s Pizza UK & IRL plc
6. INTEREST PAYABLE AND SIMILAR CHARGES
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Bank loans and overdrafts – 176
Bank loan in relation to the EBT 298 47
Other interest payable 9 –
Finance charges payable under finance leases and hire purchase contracts 7 9
314 232
Interest on joint venture 56 53
370 285
7. TAX ON PROFIT ON ORDINARY ACTIVITIES
a) Analysis of tax charge in the year
The charge based on the profit for the year comprises:
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
UK Corporation tax:
Profit for the period 2,162 1,778
Adjustment in respect of the previous period (345) 139
1,817 1,917
Joint venture tax 14 15
Total current tax 1,831 1,932
UK deferred tax:
Origination and reversal of timing differences in respect of:
Profit in the period 227 26
Total deferred tax 227 26
Tax on profit on ordinary activities 2,058 1,958
b) Factors affecting tax charge for the period
% %
Corporation tax at the statutory rate 30.0 30.0
Effects of:
Expenses not deductible for tax purposes 4.8 4.8
Accounting depreciation not eligible for tax purposes 1.6 2.4
Goodwill amortised and sold 0.3 4.0
Adjustments relating to prior years corporation tax (3.9) 2.1
Originating timing differences – 0.6
Decelerated/(accelerated) capital allowances 0.1 (0.7)
Share option exercise deduction (12.1) (13.7)
Total current tax rate 20.8 29.5 
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 28 Annual Report & Accounts 2004 29
Notes to the Financial Statements
at 2 January 2005
7. TAX ON PROFIT ON ORDINARY ACTIVITIES (continued)
c) Deferred taxation - Group
Deferred tax provided in the accounts is as follows:
At At
2 January 28 December
2005 2003
£000 £000
Accelerated capital allowances 857 847
Other timing differences – (217)
857 630
Deferred tax provided at 28 December 2003 630
Charges to profit and loss account 227
Deferred tax provided at 2 January 2005 857
d) Factors that may affect future tax charges
No provision has been made for deferred tax where potentially taxable gains have been rolled over into replacement assets. Such gains
would become taxable only if the assets were sold without it being possible to claim rollover relief. The amount not provided is £191,000
(2003: £156,000) in respect of this. At present, it is not envisaged that any tax will become payable in the foreseeable future.
Due to a change in legislation, the Company is able to receive a tax credit when new shares are issued to satisfy the exercise of share options.
The timing of the exercise and hence resultant tax credit is at the discretion of the option holder.
8. DIVIDENDS
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Equity dividends on ordinary shares:
Interim paid 2.20p (2003: 1.32p) 1,157 674
Final proposed 3.05p (2003: 2.18p) 1,531 1,083
2,688 1,757
9. EARNINGS PER ORDINARY SHARE
The calculation of basic earnings per ordinary share is based on earnings of £6,731,000 (2003: £4,559,000) and on 50,883,095 (2003: 50,568,399)
ordinary shares. 
The diluted earnings per share is based on earnings of £6,731,000 (2003: £4,559,000) and on 53,108,892 (2003: 54,376,497) ordinary shares. All
of the difference relates to share options, which takes into account theoretical ordinary shares that would have been issued, based on average
market value of all outstanding options likely to be exercised.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 29 30 Domino’s Pizza UK & IRL plc
10. INTANGIBLE FIXED ASSETS
Group Franchise Interest
Goodwill fees in leases Total
£000 £000 £000 £000
Cost:
At 28 December 2003 722 787 623 2,132
Additions 194 74 126 394
Disposals (104) (8) (70) (182)
At 2 January 2005 812 853 679 2,344
Amortisation:
At 28 December 2003 144 444 114 702
Provided during the year 41 44 48 133
Disposals (10) (1) – (11)
At 2 January 2005 175 487 162 824
Net book value:
At 2 January 2005 637 366 517 1,520
At 28 December 2003 578 343 509 1,430
During 2004 the Group purchased Triple A Pizza Limited and an unincorporated business. The provisional fair values for the acquisition of the
businesses were as follows:
Provisional
fair value
£000
Equipment 84
Stock 2
Net assets 86
Goodwill 194
280
Discharged by cash 280
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 30 Annual Report & Accounts 2004 31
Notes to the Financial Statements
at 2 January 2005
11. TANGIBLE FIXED ASSETS
Group Freehold land Leasehold Motor
and buildings improvements vehicles Equipment Total
£000 £000 £000 £000 £000
Cost:
At 28 December 2003 7,008 1,305 55 7,351 15,719
Additions 1,263 695 8 2,023 3,989
Disposals – (157) (49) (245) (451)
At 2 January 2005 8,271 1,843 14 9,129 19,257
Depreciation:
At 28 December 2003 398 21 49 2,958 3,426
Provided during the year 125 68 8 1,185 1,386
Disposals – (15) (49) (86) (150)
At 2 January 2005 523 74 8 4,057 4,662
Net book value:
At 2 January 2005 7,748 1,769 6 5,072 14,595
At 28 December 2003 6,610 1,284 6 4,393 12,293
The net book value of equipment includes an amount of £168,000 (2003: £225,000) in respect of assets held under finance leases and hire
purchase contracts, the depreciation charge on which was £57,000 (2003: £58,000).
Included within freehold land and buildings is an amount of £1,690,000 (2003: £1,690,000) in respect of land which is not depreciated. Also
included is an amount of £154,000 (2003: £154,000) of capitalised interest.
12. INVESTMENTS
Group At At
2 January 28 December
2005 2003
£000 £000
Investments:
Joint venture 383 339
At 28 December 2003 339
Share of profit retained by joint venture 44
At 2 January 2005 383
Included within the investment in joint venture is an amount of £217,000 (2003: £232,000) of goodwill arising on acquisition.
Company Subsidiary Joint
undertaking venture Total
£000 £000 £000
Fixed asset investment
Cost:
At 28 December 2003 and 2 January 2005 2,595 205 2,800
CORR dominos financials -1 a/w  30/3/05  15:54  Page 31 32 Domino’s Pizza UK & IRL plc
12. INVESTMENTS (continued)
At 2 January 2005 the Company held directly more than 20% of the nominal value of the share capital of the following:
Name of company Country of incorporation Proportion held Nature of business
Subsidiary undertakings
Domino’s Pizza Group Limited England 100% ordinary Operation and management
of franchise business
DP Pizza Limited Eire 100% ordinary Food service business
DPGS Limited England 100% ordinary Management of pizza delivery stores
DP Realty Limited England 100% ordinary Property management
DP Group Developments Limited England 100% ordinary Property development
DP Newcastle Limited England 80% ordinary Management of pizza delivery stores
DP Capital Limited England 100% ordinary Leasing of equipment
Joint venture
Full House Restaurants Limited England 41% ordinary Management of pizza delivery stores
Dominoid Limited Scotland 50% ordinary Management of pizza delivery stores
Indirectly held subsidiary
Livebait Limited England 100% ordinary Property management
American Pizza Company Limited England 100% ordinary Management of pizza delivery stores
Triple A Pizza Limited England 100% ordinary Management of pizza delivery stores
On 24 October 1998, a 41% interest in Full House Restaurants Limited was acquired for £205,000. Additionally, a loan of £345,000 was
advanced to Full House Restaurants Limited, which is repayable by equal quarterly instalments of £12,000, which commenced on 
30 June 2001. The loan bears interest at a rate of 2% above National Westminster Bank’s base rate. At 2 January 2005 the balance 
outstanding on the loan was £60,000 (2003: £185,000).
Sales of £1,777,000 (2003: £1,654,000) were made to Full House Restaurants Limited during the year. The Company received interest of 
£9,000 (2003: £12,000) in respect of the loan.
At 2 January 2005, there was a receivable of £76,000 (2003: £120,000) from Full House Restaurants Limited, which has arisen through 
normal trading activities.
On 11 November 2002, a 50% interest in Dominoid Limited was acquired. Two stores were sold to Dominoid Limited and the Group
recognised an unrealised gain of £55,000. The consideration for the sale was satisfied by the issue of a Loan Note by Dominoid Limited 
of £442,000, which is repayable on demand at least one year after date of the agreement. The loan bears interest at a rate of 2.5% above
Royal Bank of Scotland base rate. At 2 January 2005 the balance outstanding on the loan was £442,000 (2003: £442,000).
Sales of £852,000 (2003: £1,037,000) were made to Dominoid Limited during the year. The Company received interest of £31,000 (2003: £29,000)
in respect of the loan. 
At 2 January 2005, there was a receivable of £36,000 (2003: £17,000) from Dominoid Limited, which has arisen through normal trading activities.
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 32 Annual Report & Accounts 2004 33
Notes to the Financial Statements
at 2 January 2005
13. STOCKS
Group at Group at
2 January 28 December
2005 2003
£000 £000
Raw materials and goods for resale 2,700 1,843
14. DEBTORS
Group at Group at Company at Company at
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000
Trade debtors 3,109 2,540 – –
Amounts owed by Group undertakings – – 12,118 9,394
Amounts owed by joint venture 497 627 – –
Other debtors 4,557 3,809 – –
Prepayments and accrued income 2,353 2,165 – –
Net investment in finance leases 2,940 3,092 – –
13,456 12,233 12,118 9,394
Amounts falling due after more than one year included above are:
Group at Group at Company at Company at
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000
Trade debtors 238 136 – –
Amounts owed by joint venture 436 553 – –
Other debtors 74 125 – –
Net investment in finance leases 1,973 2,222 – –
2,721 3,036 – –
The aggregate rentals receivable in respect of finance leases was £1,354,000 (2003: £1,004,000), and the interest element of this is included 
in turnover.
The cost of assets acquired for the purpose of letting under finance leases was £4,948,000 (2003: £4,692,000).
15. CREDITORS
Amounts falling due within one year
Group at Group at Company at Company at
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000
Other loans (note 17) 916 811 – –
Finance lease creditors (note 18) 24 34 – –
Trade creditors 4,318 3,461 – –
Corporation tax 814 1,041 – –
Other taxes and social security costs 1,217 1,498 – –
Other creditors 1,909 823 – –
Accruals and deferred income 4,386 4,628 – –
Proposed dividend 1,537 1,084 1,537 1,084
15,121 13,380 1,537 1,084
CORR dominos financials -1 a/w  30/3/05  15:54  Page 33 34 Domino’s Pizza UK & IRL plc
16. CREDITORS
Amounts falling due after more than one year:
Group at Group at Company at Company at
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000
Bank loans (note 17) 6,360 1,098 6,360 1,098
Finance lease creditors (note 18) 18 31 – –
Other loans (note 17) 1,724 5,990 – 4,062
8,102 7,119 6,360 5,160
Bank loans
The Group has entered into an agreement to obtain bank loans and mortgage facilities. These are secured by a fixed and floating charge 
over the Group’s assets and an unlimited guarantee provided by the Company. At 2 January 2005 the balance due under these facilities was
£6,360,000 all of which is in relation to the EBT (2003: £1,098,000). The loans will bear interest at 1% over base.
Other loans
The remaining loans are repayable in equal instalments over a period of up to five years, these are unsecured.
17. LOANS
Group at Group at Company at Company at
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000
Amounts falling due:
In one year or less or on demand 916 811 – –
Due between one and two years 775 775 – –
In more than two years but not more than five years 7,309 6,313 6,360 5,160
9,000 7,899 6,360 5,160
18. OBLIGATIONS UNDER LEASES AND HIRE PURCHASE CONTRACTS
Amounts due under finance leases and hire purchase contracts: 
Group Group at Group at
2 January 28 December
2005 2003
£000 £000
Amount payable:
Within one year 32 40
In two to five years 20 40
52 80
Less: finance charges allocated to future periods (10) (15)
42 65
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 34 Annual Report & Accounts 2004 35
Notes to the Financial Statements
at 2 January 2005
18. OBLIGATIONS UNDER LEASES AND HIRE PURCHASE CONTRACTS (continued)
Annual commitments under non-cancellable operating leases are as follows:
Land and Land and
buildings at buildings at Other at Other at
2 January 28 December 2 January 28 December
2005 2003 2005 2003
£000 £000 £000 £000 
Operating leases that expire:
Within one year 84 55 155 178
In two to five years 550 354 1,007 884
In over five years 5,205 4,415 – –
5,839 4,824 1,162 1,062
19. DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS
The Group’s principal financial instruments are bank loans, other loans, finance leases and cash.
The financial instruments are principally in place to finance the head office facility and associated equipment, provide finance to franchisees
and to provide finance for the EBT loan. The Group has other financial instruments such as trade debtors and trade creditors that arise
directly from its operations. As permitted by FRS 13 short-term debtors and creditors have been excluded from the disclosure of financial
liabilities and financial assets.
The Group has not entered into any derivative transactions such as interest rate swaps or financial foreign currency contracts. In view of the
low level of foreign currency transactions, the Board does not consider that there are significant risks in respect of this. All financial assets 
and liabilities are denominated in £ sterling. The main risk area is in respect of any change in interest rates on the floating rate loans, which
the Board will continue to monitor.
Interest rate risk profile of financial assets
The interest rate profile of the financial assets of the Group was as follows:
Financial
Floating asset
Fixed rate rate on which
financial financial no interest Average 
Total asset asset is paid period
At 2 January 2005 £000 £000 £000 £000 to maturity
Trade debtors 238 – 238 –
Other debtors 73 – – 73 85 months
Joint venture loan 496 – 496 –
Finance lease receivable 2,940 2,940 – – 28 months
Cash 4,824 – 4,824 –
8,571 2,940 5,558 73
The floating rate financial assets are based on the Group’s bank base rate plus a fixed percentage.
The average interest on the fixed rate financial asset is 11%.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 35 36 Domino’s Pizza UK & IRL plc
19. DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (continued)
Financial
Floating asset
Fixed rate rate on which
financial financial no interest Average
Total asset asset is paid period
At 28 December 2003 £000 £000 £000 £000 to maturity
Trade debtors 136 – 136 –
Other debtors 125 – – 125 87 months
Joint venture loan 627 – 627 –
Finance lease receivable 3,092 3,092 – – 35 months
Cash 3,691 – 3,691 –
7,671 3,092 4,454 125
The fair value of the financial assets is not considered materially different from book value.
Interest rate risk profile of financial liabilities
The interest rate profile of the financial liabilities of the Group was as follows:
Floating
Fixed rate rate
financial financial
Total liability liability
At 2 January 2005 £000 £000 £000
Bank loan 6,360 – 6,360
Other loan 2,640 2,640 –
Finance leases 42 42 –
9,042 2,682 6,360
Floating
Fixed rate rate
financial financial
Total liability liability
At 28 December 2003 £000 £000 £000
Bank loan 1,098 – 1,098
Other loan 2,739 2,739 –
EBT Loan 4,062 – 4,062
Finance leases 65 65 –
7,964 2,804 5,160
The average interest on the fixed rate financial liability is 7.1% (2003: 7.2%). This is fixed over a weighted average period of 55 months 
(2003: 55 months). The bank loan attracts interest at a rate of 1% over base rate.
The maturity profile of the Group’s financial liabilities is set out in notes 17 and 18.
The fair value of the financial liabilities is not considered materially different from book value.
Un-drawn committed facilities at 2 January 2005 amounted to nil (2003: £3,000,000) in respect of the bank loan, and £4,500,000 in respect of
other loans relating to a limited recourse loan facility. The bank loan facilities expired in 2004 (2003 expiry date 9 November 2004). Of the
other loan facilities, £3,000,000 expires 5 March 2005 and £1,500,000 expires 30 November 2005.
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 36 Annual Report & Accounts 2004 37
Notes to the Financial Statements
at 2 January 2005
20. SHARE CAPITAL
Issued
allotted and
fully paid Authorised
Number £ Number £
At 28 December 2003 53,199,008 2,659,967 80,000,000 4,000,000
Additions in the year 2,409,542 120,461 – –
Share buy-ins (800,000) (40,000) – –
At 2 January 2005 54,808,550 2,740,428 80,000,000 4,000,000
During the year 2,409,542 shares of 5 pence each with a nominal value of £120,461 were issued at between 33.5 pence and 76.0 pence for
total cash consideration received of £1,071,000 to satisfy options that were exercised.
As at 2 January 2005, the following share options were outstanding:
Outstanding Exercised Outstanding
Option at Granted or lapsed at 
price 28 December during during 2 January
Date of grant £ 2003 the year the year 2005
Domino’s Pizza (unapproved) Scheme
24 November 1999 42.1p 1,943,786 – (1,388,470) 555,316
24 November 1999 50.0p 746,240 – (413,635) 332,605
4 August 2000 53.0p 344,867 – (161,266) 183,601
1 January 2001 33.5p 278,794 – (278,794) –
25 October 2001 55.0p 365,758 – (122,876) 242,882
11 March 2002 74.5p 100,000 – – 100,000
2 April 2002 76.0p 75,000 – (75,000) –
3,854,445 – (2,440,041) 1,414,404
EMI Scheme
23 March 2004 206.5p – 481,000 (7,250) 473,750
3,854,445 481,000 (2,447,291) 1,888,154
On 24 November 1999 participants in the Domino’s Pizza Group Limited (Unapproved) Share Option Scheme (which had been in place since
31 March 1999) had the option of exchanging options over shares in Domino’s Pizza Group Limited in return for equivalent options over
ordinary shares in the Company under the Domino’s Pizza Share Option (Unapproved) Scheme.
On 23 March 2004, the Company established the Domino’s Pizza UK & IRL plc Enterprise Management Incentive Scheme (EMI Scheme). Under
the scheme 481,000 options were granted at 206.5p, the market price on the date of the grant. The options are only exercisable if the growth
in the Company’s EPS during that Performance Year exceeds the growth in the Retail Price Index during that Performance Year by at least 5%.
The EMI options lapse after 10 years or in certain other circumstances connected with leaving the Company.
In respect of all outstanding options under these schemes, options may be exercised as follows:
One year after date of grant – maximum 1/3 of options held
Two years after date of grant – maximum 2/3 of options held
Three years after date of grant – in full
The options expire 10 years after the date granted. 
CORR dominos financials -1 a/w  30/3/05  15:54  Page 37 38 Domino’s Pizza UK & IRL plc
20. SHARE CAPITAL (continued)
In 2003 the Domino’s Pizza UK & IRL plc Employee Benefit Trust was established for the benefit of employees. The EBT was established to
hold and deal in the Company’s shares under two new share incentive schemes. These are the Domino’s Pizza UK & IRL plc 2003 Enterprise
Management Incentive Scheme, under which the Company may grant options over Ordinary Shares to eligible full time employees. During
the year options over 481,000 shares were granted under this scheme. EBT also operates a long-term incentive plan under which senior
executives may be incentivised by the grant to them of reversionary interests over a portion of the assets of the trust. During the year further
reversionary interests were granted over 600,000 shares. At 2 January 2005, the Trust held 3,599,921 shares, which had a historic cost of
£6,360,000. These shares had a market value at 2 January 2005 of £8,279,818.
At 2 January 2005 reversionary interests over 3,425,000 shares in Domino’s Pizza UK & IRL plc have been granted. Further details are
contained in the report on Directors Remuneration on page 14.
21. RECONCILIATION OF SHAREHOLDERS’ FUNDS AND MOVEMENT ON RESERVES
Group Share Capital Own Total
Share premium Redemption shares held Profit and shareholders’
capital account Reserve by EBT loss account funds
£000 £000 £000 £000 £000 £000
At 29 December 2002 2,546 2,395 – – 6,760 11,701
Proceeds from share issue 114 895 – – – 1,009
Own shares held by EBT – – – (5160) – (5160)
Profit for the year – – – – 4,559 4,559
LTIP Share Option Charge – – – – 328 328
Dividends – – – – (1,757) (1,757)
At 28 December 2003 2,660 3,290 – (5,160) 9,890 10,680
Proceeds from share issue 120 951 – – – 1,071
Share buy back (40) – 40 – (1,610) (1,610)
Own shares held by EBT – – – (1,200) – (1,200)
Profit for the year – – – – 6,731 6,731
LTIP Share Option Charge – – – – 332 332
Dividends – – – – (2,688) (2,688)
At 2 January 2005 2,740 4,241 40 (6,360) 12,655 13,316
Company Share Capital Own Total
Share premium Redemption shares held Profit and shareholders’
capital account Reserve by EBT loss account funds
£000 £000 £000 £000 £000 £000
At 29 December 2002 2,546 2,395 – – – 4,941
Proceeds from share issue 114 895 – – – 1,009
Profit for the year – – – – 6,589 6,589
LTIP Share Option Charge – – – – 328 328
Dividends – – – – (1,757) (1,757)
Own shares held by EBT – – – (5,160) – (5,160)
At 28 December 2003 2,660 3,290 – (5,160) 5,160 5,950
Proceeds from share issue 120 951 – – – 1,071
Share buy back (40) – 40 – (1,610) (1,610)
Profit for the year – – – – 5,166 5,166
LTIP Share Option Charge – – – – 332 332
Dividends – – – – (2,688) (2,688)
Own shares held by EBT – – – (1,200) – (1,200)
At 2 January 2005 2,740 4,241 40 (6,360) 6,360 7,021
During the period June 2004 to December 2004 the Company bought back tranches of ordinary shares of 5 pence, each totalling 800,000 shares
for £2 per share.
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 38 Annual Report & Accounts 2004 39
Notes to the Financial Statements
at 2 January 2005
22. PROFIT AND LOSS ACCOUNT
Profit after taxation amounting to £3,556,000 (2003: £6,589,000) has been dealt with in the accounts of the Company.
23. NOTES TO THE STATEMENT OF CASH FLOWS
a) Reconciliation of operating profit to net cash inflow from operating activities
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Operating profit 9,033 5,866
Depreciation charge 1,386 1,210
Amortisation charge 133 180
LTIP charge 333 328
(Increase) in stocks (857) (433)
(Increase) in debtors (1,505) (707)
Increase in creditors 1,420 1,566
9,943 8,010
b) Analysis of net debt
At Other At
28 December non-cash 2 January
2003 Cash flow movements 2005
£000 £000 £000 £000
Cash at bank and in hand 3,721 1,103 – 4,824
EBT Loans (5,160) (1,200) – (6,360)
Other loans (within one year) (811) 1,097 (1,202) (916)
Other loans (due after one year) (1,928) (998) 1,202 (1,724)
Finance leases (65) 23 – (42)
Net debt (4,243) 25 – (4,218)
Additionally, a loan note in respect of the purchase of freehold land and buildings of £1,101,000 was taken out and fully repaid during the year.
c) Reconciliation of net cash flow to movement in net debt
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Increase/(decrease) in cash 1,103 (164)
Cash inflow from increase in loans (3,278) (6,757)
Repayment of long-term loans 2,177 8,984
Repayments of capital element of finance leases and hire purchase contracts 23 49
Inception of finance leases – (47)
Movement in net debt 25 2,065
Net debt at 29 December 2003 (4,243) (6,308)
Net debt at 2 January 2005 (4,218) (4,243)
d) Exceptional items
During 2003 the Company established an EBT. A further loan of £1,200,000 was taken out and this loan was used to fund the purchase of
600,000 shares in the Company. At 2 January 2005 the EBT held a total of 3,599,921 shares in the Company.
CORR dominos financials -1 a/w  30/3/05  15:54  Page 39 40 Domino’s Pizza UK & IRL plc
24. CAPITAL COMMITMENTS
Amounts contracted for but not provided in the accounts amounted to £ nil for the Group and £ nil for the Company (2003: £ nil and £ nil respectively).
25. CONTINGENT LIABILITIES
Additional consideration up to a maximum of £500,000 in cash, may become payable for the acquisition of American Pizza Company Limited,
dependent upon certain conditions being met. Due to the remote probability of these conditions being met, the directors consider a provision
of these amounts to be inappropriate.
26. RELATED PARTIES
During the period, the Group traded with International Franchise Systems Inc., in the normal course of business and at normal market prices.
Colin Halpern is a director of International Franchise Systems Inc.
Transactions between the Group and International Franchise Systems Inc., are set out below:
53 weeks 52 weeks 
ended ended
2 January 28 December
2005 2003
£000 £000
Current account:
Costs incurred by Domino’s Pizza Group Limited on behalf of International Franchise Systems Inc. 424 237
Costs incurred by International Franchise Systems Inc., on behalf of Domino’s Pizza Group Limited (8) (1)
Transfer of funds to/from International Franchise Systems Inc. 16 1
Management charges from International Franchise Systems Inc. (432) (421)
Closing debt due to International Franchise Systems Inc. – (184)
During the period, the Group purchased services to the value of £48,000 (2003: £55,000) in the normal course of business and at normal
market prices from Chinese Pompano Inc, a Company in which Gerald Halpern is a director. At the balance sheet date the amount due to
Chinese Pompano Inc, was £ nil (2003: £ nil). 
Transactions between the Group and its joint ventures are set out in note 12.
Notes to the Financial Statements
at 2 January 2005
CORR dominos financials -1 a/w  30/3/05  15:54  Page 40 Five Year Financial Summary
2 January 28 December 29 December 30 December 31 December
2005 2003 2002 2001 2000
Trading Weeks 53 52 52 52 53
System sales (£m) 174.3 142.3 118.9 98.4 76.1
Group sales (£m) 74.2 61.6 53.1 43.8 32.5
Operating profit (£000’s) 9,138 5,966 4,563 3,214 2,457
Profit before tax (£000’s) 8,821 6,537 4,239 2,862 2,189
Basic earnings per share (pence) 13.23 9.02 5.60 4.00 2.61
Dividends per share (pence) 5.25 3.50 2.00 1.33 0.80
Shareholders’ funds (£000’s) 13,316 10,680 11,701 9,598 8,098
Net (indebtedness) (£000’s) (4,218) (4,243) (6,308) (5,760) (5,663)
Capital gearing (%) 31.7% 39.7% 53.9% 60.0% 69.9%
Stores at start of year 318 269 237 215 201
Stores opened 40 50 34 24 22
Stores closed (1) (1) (2) (2) (8)
Stores at year end 357 318 269 237 215
Corporate stores at year end 18 17 35 34 31
Like-for-like sales growth (%) 6.6% 7.4% 11.2% 21.4% 4.8%
Annual Report & Accounts 2004 41
CORR dominos financials -1 a/w  30/3/05  15:54  Page 41 Notice of Annual General Meeting
Notice is hereby given that the Annual General Meeting of Domino’s Pizza UK & IRL plc (the “Company”) will be held at The Training Centre,
Unit B, Kingston Centre, Winchester Circle, Kingston, Milton Keynes. MK10 0BA at 1.00pm on Thursday 21 April, 2005 for the following business:
ORDINARY BUSINESS
To consider and, if thought fit, pass the following resolutions numbered 1-7 (inclusive) as ordinary resolutions.
1. To receive and consider the report of the directors and the financial statements of the Company for the 53 weeks ended 2 January 2005;
2. To approve a final dividend of 3.05 pence per ordinary share in the capital of the Company;
3. To re-elect Stephen Hemsley as a director following his retirement by rotation;
4. To re-elect Nigel Wray as a director following his retirement by rotation; 
5. To re-appoint Lee Ginsberg as a director in accordance with Article 33.2, being a director appointed since the last Annual General Meeting; 
6. To re-appoint John Hodson as a director in accordance with Article 33.2, being a director appointed since the last Annual General Meeting;
7. To re-appoint Ernst & Young LLP as auditors and to authorise the directors to fix their remuneration;
SPECIAL BUSINESS
8. To consider, and if thought fit, pass the following as an ordinary resolution:
“THAT the directors be and hereby are generally and unconditionally authorised pursuant to and in accordance with Section 80 of 
the Companies Act (the “Act”) to allot relevant securities (as defined within Section 80(2) of the Act) up to an aggregate nominal value 
of £919,880.22.
The authority hereby conferred shall expire at the conclusion of the Annual General Meeting of the Company to be held in 2006 or, if
earlier, 15 months from the date of the passing of this resolution, unless such authority is renewed prior to such time. Under the authority
hereby conferred the directors may during such period make agreements which would or might require relevant securities to be allotted
after the expiry of such period.”
9. To consider, and if thought fit, pass the following resolution which will be proposed as a special resolution:
“THAT (subject to the passing of resolution 8 set out in the notice convening this meeting) the directors be and hereby are authorised
pursuant to and in accordance with Section 95(1) of the Companies Act 1985 (the “Act”) to allot equity securities (as defined in Section
94(2) of the Act) wholly for cash pursuant to the authority conferred by such resolution, without regard to any existing pre-emption rights,
as if Section 89(1) of the Act did not apply to any such allotment provided that such power shall be limited to:
(a) the allotment of equity securities in connection with a rights or any other issue in favour of the holders of ordinary shares on the
register of members at such record date or dates as the directors may determine for the purpose of the issue where the equity
securities respectively attributable to the interest of the ordinary shareholders are proportionate (as nearly as may be) to the respective 
numbers of ordinary shares held by them on any such record date or dates, subject only to such exclusions or other arrangements 
as the directors may deem necessary or expedient to deal with factional entitlements or legal or practical problems arising under 
the laws of any territory, or the requirements of any statutory or regulatory body or stock exchange in any territory; and
(b) the allotment (otherwise than pursuant to paragraph (a) above) of equity securities up to an aggregate nominal value of £137,982.03
which is equal to but not more than 5% of the issued ordinary share capital.
The authority hereby conferred shall expire at the conclusion of the Annual General Meeting of the Company to be held in 2006 or, if
earlier, 15 months from the date of the passing of this resolution, unless such authority is renewed prior to such time. Under the authority
hereby conferred the directors may during such period make agreements which would or might require relevant securities to be allotted
after the expiry of such period.”
10. To consider and if thought fit to pass the following resolution which will be proposed as a special resolution:
“THAT the Company be generally and unconditionally authorised to make one or more market purchases (within the meaning of s163(3)
of the Companies Act 1985) of ordinary shares of five pence each in the capital of the Company provided that:
(a) the maximum aggregate number of ordinary shares authorised to be purchased is 5,519,281 (representing 10% of the issued ordinary
share capital);
(b) the minimum price which may be paid for an ordinary share is five pence;
(c) the maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle market quotations
for an ordinary share as derived from The London Stock Exchange Daily Official List for the five business days immediately preceding
the day on which that ordinary share is purchased; and
42 Domino’s Pizza UK & IRL plc
CORR dominos financials -1 a/w  30/3/05  15:54  Page 42 Notice of Annual General Meeting
(d) the authority hereby conferred expires at the close of the next Annual General Meeting of the Company after the passing of this
resolution (or, if sooner, at the expiration of 15 months from the date of the passing of this resolution), save that the Company may
before such expiry make an offer or agreement to purchase ordinary shares under this authority which would or might require to be
executed wholly or partly after such expiry, and the Company may make a purchase of ordinary shares in pursuance of such an offer
or agreement as if the power conferred hereby had not expired”.
By order of the Board
Lee Ginsberg
Company Secretary
Registered Office: Lasborough Road, Kingston, Milton Keynes, MK10 0AB
29 March, 2005
NOTES:
1. Any member entitled to attend and vote at the Meeting may appoint one or more other persons as a proxy or proxies to attend and, 
in the event of a poll, to vote instead of him or her. A proxy need not be a member of the Company. Shareholders will receive a 
Proxy Form with this document.
2. Proxy Forms, if used, must reach Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU not less than 48 hours
before the time fixed for the Meeting and in default will not be treated as valid. Completion of a Proxy Form will not preclude shareholders
from attending and voting at the Meeting should they wish to do so.
3. The Register of directors’ interests in shares in, or debentures of, the Company and copies of the directors’ service contracts of more than
one year’s duration will be available for inspection at the registered office of the Company during business hours only on any weekday
(excluding Saturdays, Sundays and public holidays) from the date of this Notice until the date of the Annual General Meeting and at the
place of the Meeting from 9.00am until the conclusion of the Meeting.
FURTHER EXPLANATORY NOTES:
1. Resolution 1 – Report and Accounts
The directors are required to present for approval, The Report and Accounts for the 53 weeks ended 2 January 2005 to the Meeting.
2. Resolution 2 – Declaration of a dividend
A final dividend can only be paid if it is recommended by the directors and approved by the shareholders at a General Meeting. 
The directors propose that a final dividend of 3.05 pence per ordinary share of five pence each in the Company (“ordinary shares”) 
be paid on 29 April 2005 to ordinary shareholders who are on the register at the close of business on 15 April 2005. An interim dividend 
of 2.20 pence per ordinary share was paid on 26 August 2004.
3. Resolutions 3 and 4 – Retirement by rotation
The Articles of Association of the Company requires one third of the directors to retire at each Annual General Meeting (generally 
those who have been longest in office since their last appointment). At this meeting Gerald Halpern will retire and will not be seeking 
re-election. Stephen Hemsley and Nigel Wray will retire by rotation and are seeking re-election.
4. Resolutions 5 and 6 – Re-appointment of new directors
The Articles of Association of the Company requires that any director appointed to the Board by the directors shall hold office only until
the next following Annual General Meeting and shall then be eligible for reappointment. Lee Ginsberg and John Hodson were appointed
since the last Annual General Meeting and thus retire and seek reappointment.
5. Resolution 7 – Re-appointment of auditors
The Company is required to appoint auditors at each Annual General Meeting to hold office until the next such meeting at which accounts
are presented. This resolution proposes the re-appointment of the Company’s existing auditors, Ernst & Young LLP , and authorises the
directors to agree their remuneration.
6. Resolution 8 – Asks the shareholders to renew the directors’ general authority to allot unissued shares, should it be desirable to do so. 
In accordance with corporate governance best practice recommendations, if approved, this authority is limited to an aggregate nominal
amount of £919,880.22.
7. Resolution 9 – Renews an existing authority given to the directors each year to allot shares for cash to persons other than existing shareholders
up to a maximum of 5% of the Company’s issued share capital. This authority, which will expire at the next Annual General Meeting or, if
earlier, 15 months from the date of the resolution, gives the directors flexibility to take advantage of business opportunities as they arise
and the 5% limit ensures that existing shareholders’ interests are protected.
8. Resolution 10 – Seeks to grant (until the next Annual General Meeting or the expiration of 15 months from the date of the resolution if
sooner) the directors authority to purchase the Company’s own shares up to a maximum of 10% of the issued ordinary share capital of
the Company. In proposing this Resolution, the directors consider that it is in the best interests of the Company and its shareholders that
directors should retain the ability to make market purchases of the Company’s own shares without the cost and delay of an Extraordinary
General Meeting to seek specific authority for a share purchase.
Annual Report & Accounts 2004 43
CORR dominos financials -1 a/w  30/3/05  15:54  Page 43 44 Domino’s Pizza UK & IRL plc
Store Locations
A
Aberdeen
Clifton Road,
Kittybrewster
01224 482358
Abingdon
Ock street
01235 523383
Airdrie
Southbridge Street
01236 749999
Aldershot
Victoria Road
01252 344455
Allestree
Park Farm Centre
01332 557777
Altrincham
Stamford New Road
0161 9291888
Alvaston
Keldholme Lane
01332 757875
Alverstoke
The Avenue, 
Gosport
02392 511544
Andover
Bridge Street
01264 363333
Ashford
Somerset Road
01233 666600
Athlone
N6 Centre,
Kilmarnock
00353 9064 91155
Aylesbury
Cambridge Street
01296 336868
Ayr
Allison Street
01292 288011
B
Ballards Lane
Finchley
0208 3468448
Ballymena
Cushendell Road
02825 659999
Banbury
South Bar Street
01295 252566
Bangor
Abbey Street
02891 469696
Barking
Longbridge Road
0208 5944404
Barnet
High Street
0208 4407666
Barry
Holton Road
01446 420042
Basingstoke
Winton Square
01256 810000
Bath
Walcott Street
01225 421421
Bayswater
Westbourne Park Road
0207 229 7770
Bedford
Midland Road
01234 330030
Beeston
Villa Street
01159 436363
Belfast 1
Lisburn Road
02890 244222
Belfast 2
Knock Road
02890 703222
Belfast 3
Antrim Road
02890 757475
Belmont
Kenton Lane
0208 9093666
Berkhamsted
High Street
01442 875975
Bicester
Buckingham Crescent
01869 322222
Birmingham
Kingstanding Road
0121 3556226
Blackpool
Cleveleys
01253 862222
Blackpool
North Shore
01253 352222
Blackpool
South Shore
01253 792212
Blackpool
Whitegate Drive
01253 390444
Bognor Regis
Station Road
01243 828890
Bolton
Westhaughton
01942 841717
Bournemouth
Wimbourne Road
01202 521666
Bracknell
Crossway
01344 300900
Bradford East 
Bolton Road
01274 631111
Braintree
Coggeshall Road
01376 553000
Brentwood
High Street
01277 219999
Bridgend
Quarella Road
01656 668877
Bridgwater
Eastover
01278 452727
Brighton
St Georges Place
01273 675676
Bristol
Kingswood
0117 9616111
Bristol
Whiteladies
0117 9733400
Bristol
Horfield
0117 9512777
Bristol
Parkway
0117 9798855
Briton Ferry
Neath Road
01639 822742
Bromborough
Village Road
0151 3461333
Bromley
High Street
0208 4669000
Bulwell
Commercial Road
01159 273130
Burton on Trent
Orchard Street
01283 515666
C
Caerphilly
Picadilly Square
02920 882223
Cambridge
Hills Road
01223 355155
Cannock
Newhall Street
01543 500303
Canvey Island
High Street
01268 699999
Cardiff 1
Crwys Road
02920 229977
Cardiff 2
Cowbridge Road East
02920 232000
Cardiff 3
Cardiff Bay
02920 451851
Carlow
Castle Hill Centre
00353 599137373
Catford
Brownhill Road
0208 6955665
Chadwell Heath
High Road
0208 5038222
Chalfont St Peter
Market Place
01753 888899
Chalk Farm
Regents Park Road
0207 7220070
Chatham
Chatham Hill
01634 849999
Chelmsford
Duke street
01245 357777
Cheadle Hulme
Turves Road
0161 4828555
Cheltenham
High Street
01242 230030
Cheshunt
Turners Hill
01992 631100
CORR dominos financials -1 a/w  30/3/05  15:54  Page 44 Store Locations
Annual Report & Accounts 2004 45
Chester
Black Diamond Street
01244 311113
Chesterfield
Lordsmill Street
01246 551122
Chichester
Terminus Road
01243 780990
Chingford
Old Church Road
0208 5299400
Chippenham
New Road
01249 462266
Chorley
George Street
01257 275511
Christchurch
Barrack Road
01202 489898
Clapham
Battersea Rise
0207 9242572
Clondalkin
Tower Shopping Centre
00353 14570000
Coalville
Marlborough Gate
01530 815845
Colchester
North Station Road
01206 545000
Coleraine
Dunmore Street
02870 344344
Cork 1
Douglas Village
00353 214 890900
Cork 2
Washington Street
00353 214 222288
Coventry I 
Fletchampstead Highway
02476 717111
Coventry II
Jubilee Crescent
02476 599599
Crawley
High Street
01293 519999
Crewe
Nantwich Road
01270 257600
Crosby
Coronation Road
0151 9329500
Cumbernauld
South Muirhead Road
01236 722211
Croydon
High Street
0208 6812344
D
Darlington
Northgate
01325 250250
Dartford
London Road
01322 224222
Daventry
Bowen Square
01327 300345
Didcot
The Broadway
01235 511999
Docklands
West India Dock Road
0207 5179494
Doncaster
Carr House Road
01302 761200
Dorking
High Street
01306 883311
Drumcondra
Drumcondra Road
00353 18570001
Dublin
Lower Rathmines Road
D6
00353 1496 0577
Dublin
Roseville Terrace D14
00353 12961010
Dublin
Laurel Lodge D15
00353 18222666  
Dublin
Greendale Road 
Raheny
00353 18323333
Dublin
Cabra Road
00353 18680200
Dundalk
Adelphi Centre Co. Louth
00353 429351223
Dundee 1
Broughty Ferry
01382 732777
Dundee 2
Victoria Dock
01382 220220
Dunstable
Church Street
01582 661444
E
Eastbourne 1
Grove Road
01323 411221 
Eastbourne II
Langley Rise
01323 766333
Ealing Common
Uxbridge Road
Acton
0208 9930915
East Dulwich
Grove Vale
0207 7377171
East Finchley
High Road
0208 4442571
East Grinstead
King Street
01342 311315
East Ham
Barking Road
0208 5034646
East Kilbride
Cornwall Way
01355 276677
Eastleigh
Leigh Road/High Street
02380 644888
Edgbaston
Broadway Plaza
01214 557644
Edgware
Boot Parade
0208 9057577
Edinburgh
Nicholson Street
0131 6678666
Edinburgh
Ormiston Terrace
0131 3346600
Edinburgh
Leith Walk
0131 5544449
Edinburgh
Dalry Road
0131 3133399
Egham
High Street
01784 471144
Elephant and Castle
Newington Butts
0207 7937770
Ellesmere Port
Marina Drive
0151 3553344
Eltham
Tudor Parade
0208 8509500
Enfield Wash
Hereford Road
0208 8053436
Ennis
Parnell Street
00353 656 840880
Epsom
Upper High Street
01372 727273
Exeter
Sidwell Street
01392 425252
CORR dominos financials -1 a/w  30/3/05  15:54  Page 45 Store Locations
46 Domino’s Pizza UK & IRL plc
F
Falkirk
Maggiewoods Loan
01324 619696
Fallowfield
Wilmslow Road
0161 2573832
Fareham
West Street
01329 822666
Fareham
Mitchell Close
01489 565756
Farnborough
Victoria Road
01252 378090
Farnham
The Woolmead
01252 717000
Feltham
Cavendish Parade
0208 8319595
Ferndown
Victoria Road
01202 890790
Finchley Road
NW3
0207 7941086
Fleet
Oatsheaf Parade
01252 812813
Folkestone
Cheriton Road
01303 270707
Frome
Keyford
01373 454511
Fulham
Fulham Road
0207 3819898
G
Galway
Prospect Hill
00353 91566100
Gants Hill
Woodford Avenue
0208 5505566
Gateshead
Durham Road 
0191 4201100
Gidea Park
Brentwood Road
01708 444422
Glasgow
Great Western Road
0141 3373379
Glasgow
Fenwick Road
0141-6201111
Glasgow Bearsden
Kirk Road
0141 9315252
Glasnevin
Willow Park
003531 8110099
Glenageary
Upper Glenageary Road
003531 2363333
Glengormley
Antrim Road
02890 778000
Glenrothes
The Glenwood Centre
01592 760090
Gloucester
Northgate Street
01452 527222
Gosforth
Station Road
0191 2842000
Gravesend
West Street
01474 537400
Grays
Southend Road
01375 372737
Greenock
Brymner Street
01475 725425
Greenwich
Trafalgar Road
0208 8583222
Guildford
Woodbridge Road
01483 458000
Guiseley
Otley Road
01943 877785
H
Hadleigh
London Road
01702 555503
Hamilton
Duke Street
01698 207777
Hanwell
Uxbridge Road
0208 5799696
Harlow
Westgate Street
01279 442323
Harrogate
Leeds Road
01423 873737
Hastings
Cornwallis Terrace
01424 433333
Havant
North Street Parade 
02392 455525
Haywards Heath
Commercial Square
01444 440999
Headingley
St Annes Road
0113 2899559
Headington
London Road
01865 742020
Hemel Hempstead
Waterhouse Street
01442 217000
Hendon
Central Circus
0208 2024722
Hertford
Railway Street
01992 538888
Heswal
Telegraph Road
0151 342 2000
High Wycombe
Castle Street
01494 539539
Hillingdon
Uxbridge Road
01895 237070
Hinckley
Rugby Road
01455 230099
Hoddesdon
High Street
01992 448880
Holloway Road
London N19
0207 2728338
Horsham
Springfield Road
01403 275553
Hove
Old Shoreham Road
01273 208209
Huntingdon
Grammar School Walk
01480 454700
I
Ipswich
Felixtowe Road
01473 717272
Ipswich
Bramford Road
01473 217777
Isleworth
London Road
0208 5606003
Islington
Islington High Street
0207 7130707
CORR dominos financials -1 a/w  30/3/05  15:54  Page 46 Annual Report & Accounts 2004 47
Store Locations
K
Kidderminster
Blackwell Street
01562 740110
Kettering
Rockingham Road
01536 484444
Kilmarnock
Glasgow Road
01563 534422
Kingston
Kingston Hill 
Surrey
0208 9745666
L
Leatherhead
Sunmead Parade
01372 379000
Leeds
Street Lane
0113 266 4488
Leicester
London Road
0116 2996600
Leicester
Narborough Road
0116 2996611
Leighton Buzzard
Waterbourne Walk
01525 382838
Letchworth
Leys Avenue
01462 676677
Leyland
Chapel Brow
01772 622922
Leyton
High Road
0208 5585588
Lichfield
St Johns Street
01543 251900
Limerick
Mount Kennett Place
00353 61411100
Limerick
Castle Troy
00353 61331111
Lincoln
Lindis Retail Park
01522 693366
Lincoln
Wragby Road
01522 519933
Lisburn
Longstone Street
02892 676867
Liverpool
Allerton Road
0151 7380000
Livingston
Almondside
01506 436677
London
Queen St EC4
0207 2366662
London
Southgate N14
0208 2113999
Londonderry
Victoria Street
02871 318788
Loughborough
Derby Road
01509 211200
Lucan
Dodsborough Road
00353 16010111
Luton
New Bedford Road
01582 451155
Lytham
Woodlands Road
01253 732222
M
Macclesfield
Churchill Way
01625 869869
Maida Vale
Chippenham Road
0207 2663311
Maidenhead
Bridge Road
01628 777700
Maidstone
Fishford Road
01622 761122
Malvern
Worcester Road
01684 577788
Manchester
Chorlton
0161 8819696
Manchester
Heaton Chapel
0161 4327444
Mansfield
Rosemary Centre
01623 631100
Mapperley
Plains Road
0115 9691007
Margate
High Street/Marine Drive
01843 229200
Midsomer Norton
High Street
01761 415577
Mildenhall
Beck Road
01638 716711
Milton Keynes 
Bletchley 
01908 375737
Milton Keynes
Kingston
01908 282882
Milton Keynes
Newport Pagnell
01908 610202
Milton Keynes
Oldbrook
01908 667766
Morden
London Road
0208 6463339
N
Newbury
The Kennet Centre
01635 529529
Newcastle
Cowgate
0191 2862020
Newport
Chepstow Road
01633 280011
Newton Abbot
Queen Street
01626 366662
Norbury
London Road
0208 6798831
Northampton
Horseshoe Street
01604 636622
Northwich
Kingsmead Square
01606 350066
Northwood
Joel Street
01923 822228
Norwich
Eastbourne Place
01603 663799
Norwich
St Augustines Gate
01603 622977
Nuneaton
Abbey Street
02476 375353
CORR dominos financials -1 a/w  30/3/05  15:54  Page 47 Store Locations
O
Oldbury
Hagley Road West
0121 4224666
Orpington
High street
01689 836836
Oxford
Cowley
01865 777137
Oxford Central
Park End Street
01865 200222
P
Paignton
Torquay Road
01803 666632
Paisley
Gauze Street
0141 8421331
Peacehaven
South Coast Road
01273 587070
Penge
High Street
0208 6768888
Perth
South Street
01738 446111
Peterborough
The Broadway
01733 311111
Peterborough
Valley Park Centre
01733 896396
Pimlico
Charlwood Street
0207 8342211
Plymouth
Mutley Plain
01752 252526
Poole
Seaview Road
01202 737737
Pontypridd
Treforest
01443 480680
Portsmouth North
London Road
02392 666600
Portsmouth South
Fratton Road
02392 291291
Potters Bar
Darkes Lane
01707 664224
Preston
Deepdale Road
01772 202222
Prestwich
Bury New Road
0161 7739137
Pudsey
Chapel Town
01132 394666
Purley
Russell Hill Parade
0208 6683000
Putney
Upper Richmond Road
0208 7800777
R
Rayners Lane
Alexandra Avenue
0208 8661122
Reading
Wokingham Road
01189 351777
Reading
Oxford Road
01189 567555
Reading
Lower Early
01189 758888
Redditch
The South East Quadrant
01527 66777
Redhill
High Street
01737 773737
Richmond
Upper Richmond Road
0208 8785656
Rugby
North Street
01788 565566
Rutherglen
Hamilton Road
0141 6478888
S
Sale
Washway Road
01619 696444
Salisbury
Fisherton Road
01722 333363
Sandhurst
Yorktown Road
01252 890891
Sheffield
Ecclesall Road
0114 2669988
Sheffield
Chesterfield Road
0114 2552666
Shepherds Bush
Uxbridge Road
0208 7438900
Shirley
Stratford Road
0121 7455444
Sidcup
Station Road
0208 3023399
Sittingbourne
Millway
01795 429111
Slough
Bath Road
01753 552525
Southampton
Bitterne
02380 437743
Southampton
The Avenue
02380 233633
Southend
Earls Hall Parade
01702 391191
Southport
Virginia Street
01704 512512
Spalding
Winsover Road
01775 720310
St Albans
London Road
01727 848565
St Neots
Huntingdon Street
01480 473773
Stafford
Newport Road
01785 220444
48 Domino’s Pizza UK & IRL plc
CORR dominos financials -1 a/w  30/3/05  15:54  Page 48 Store Locations
Staines
High Street
01784 449090
Stamford Hill 
N16
0208 8024646
Stapleford
Alexandra Street
0115 9491949
Stevenage
High Street
01438 751000
Stirling
Pitt Terrace
01786 447777
Stockport
Buxton Road
0161 4569999
Stockton Heath
London Road
01925 861300
Stoke-on-Trent
Amison Street
01782 599155
Stourbridge
Stourbridge Ind Estate
01384 374666
Strood
High Street
01634 716655
Sutton
High Street
0208 7700088
Sutton-in-Ashfield
Station Road
01623 558668
Swansea
Dillwyn Street
01792 464647
Swindon
High Street
01793 488400
Swindon
Taw Hill
01793 701888
Swinton
Chorley Road
0161 7947929
Swords
Dublin Road
00353 18079100
T
Tallaght
The Square
00353 14626666
Tamworth
Aldergate
01827 314500
Taunton
Station Road
01823 259999
Teddington
Stanley Road
0208 9777722
Telford
Holyhead Road
01952 616868
Tolworth
The Broadway
0208 3903800
Tonbridge
High Street
01732 351512
Torquay
St Marychurch Road
01803 313444
Tottenham
High Road
0208 8856644
Trowbridge
Castle Street
01225 777731
Tullamore
Main Street, Co. Offaly
00353 50646000
Tunbridge Wells
Mount Ephraim
01892 525825
Tynemouth
Preston North Road
0191 2577272
W
Wakefield
Horbury Road
01924 374333
Walsall
Lichfield Street
01922 646060
Warwick
Coventry Road
01926 411003
Waterlooville
London Road
02392 230000
Watford
The Parade
01923 255811
Waterford
Newtown Road
00353 51858111
Welling
Upper Wickham Lane
0208 3010888
Wellingborough
Redhill Farm
Development
01933 674111
Welwyn Garden City
Fretherne Road
01707 323235
Wembley
High Road
0208 9008444
West Bridgford
Radcliffe Road
01159 825577
West End Lane
West Hampstead
0207 4310045
Weston Super Mare 
The Boulevard
01934 633888
West Swindon
Tewkesbury Way
01793 877585
Weybridge
High Street
01932 856999
Weymouth
King Street
01305 777757
Wickford
High Street
01268 734000
Wilmslow
Water Lane
01625 549222
Winchester
Upper Brook Street
01962 890808
Winchmore Hill
Avenue Parade
0208 3642222
Windsor
Dedworth Road
01753 853322
Woking
Oriental Road
01483 760761
Wokingham
Bush Walk
01189 773833
Wolverhampton
Tettenhall Road
01902 759911
Woodford Green
Snakes Lane Estate
0208 4989944
Worcester
The Tything
01905 731000
Worthing
Broadwater Street West
01903 233499
Wylde Green
Birmingham Road
0121 3506060
Y
Yardley
Church Road
0121 7852121
Yeovil
Wyndham Street
01935 411311
York
Bishopthorpe Road
01904 677777
Annual Report & Accounts 2004 49
CORR dominos financials -1 a/w  30/3/05  15:54  Page 49 Notes
50 Domino’s Pizza UK & IRL plc
CORR dominos financials -1 a/w  30/3/05  15:54  Page 50 Notes
Annual Report & Accounts 2004 51
CORR dominos financials -1 a/w  30/3/05  15:54  Page 51 Notes
52 Domino’s Pizza UK & IRL plc
CORR dominos financials -1 a/w  30/3/05  15:54  Page 52 Domino’s Pizza Group Limited is a wholly owned subsidiary of Domino’s Pizza UK & IRL plc
and holds the master franchise licence to own, operate and franchise Domino’s Pizza
stores in England, Scotland, Wales and Ireland. 
Domino’s Pizza Inc., founded in the United States in 1960, is recognised as world leader
in the delivery of freshly-made, home-delivered high quality pizza. The first UK store
opened in 1985 and the first Irish store opened in 1991.
CONTENTS
Financial Highlights 1
Chairman’s Statement 3
Chief Executive’s Report 4
Board of Directors 12
Advisors 13
Report on Directors’ Remuneration 14
Directors’ Report 16
Independent Auditors’ Report 19
Group Profit and Loss Account 20
Group Balance Sheet 21
Company Balance Sheet 22
Group Statement of Cash Flows 23
Notes to the Financial Statements 24
Five Year Financial Summary 41
Notice of Annual General Meeting 42
Store Locations 44
CORR Domino's cover a/w  30/3/05  15:53  Page 2 Domino’s Pizza UK & IRL plc
Annual Report & Accounts
For the 53 weeks ended 2 January 2005
Delivering results
Domino’s Pizza UK & IRL plc
Lasborough Road, Kingston, Milton Keynes MK10 0AB
Tel: 01908 580000
www.dominos.co.uk  www.dominos.ie
087 12 12 12 12
Domino’s Pizza UK & IRL plc
Domino’s Pizza UK & IRL plc – Annual Report & Accounts For the 53 weeks ended 2 January 2005
Design: Remedy +44 (0)20 8940 6050 www.brandremedy.com
CORR Domino's cover a/w  30/3/05  15:53  Page 1