PTP Accounts Production v23.1.5.20 05753363 director 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057533632022-03-31057533632023-03-31057533632022-04-012023-03-31057533632021-03-31057533632021-04-012022-03-31057533632022-03-3105753363ns15:EnglandWales2022-04-012023-03-3105753363ns14:PoundSterling2022-04-012023-03-3105753363ns10:Director12022-04-012023-03-3105753363ns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105753363ns10:SmallEntities2022-04-012023-03-3105753363ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105753363ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105753363ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-3105753363ns10:FullAccounts2022-04-012023-03-310575336312022-04-012023-03-3105753363ns10:OrdinaryShareClass12022-04-012023-03-3105753363ns10:RegisteredOffice2022-04-012023-03-3105753363ns5:CurrentFinancialInstruments2023-03-3105753363ns5:CurrentFinancialInstruments2022-03-3105753363ns5:Non-currentFinancialInstruments2023-03-3105753363ns5:Non-currentFinancialInstruments2022-03-3105753363ns5:ShareCapital2023-03-3105753363ns5:ShareCapital2022-03-3105753363ns5:RetainedEarningsAccumulatedLosses2023-03-3105753363ns5:RetainedEarningsAccumulatedLosses2022-03-3105753363ns5:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105753363ns5:PatentsTrademarksLicencesConcessionsSimilar2022-04-012023-03-3105753363ns5:LongLeaseholdAssetsns5:LandBuildings2022-04-012023-03-3105753363ns5:LeaseholdImprovements2022-04-012023-03-3105753363ns5:PlantMachinery2022-04-012023-03-3105753363ns5:FurnitureFittings2022-04-012023-03-3105753363ns5:ComputerEquipment2022-04-012023-03-3105753363ns5:PatentsTrademarksLicencesConcessionsSimilar2022-03-3105753363ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3105753363ns5:PatentsTrademarksLicencesConcessionsSimilar2022-03-3105753363ns5:LongLeaseholdAssetsns5:LandBuildings2022-03-3105753363ns5:LeaseholdImprovements2022-03-3105753363ns5:PlantMachinery2022-03-3105753363ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3105753363ns5:LeaseholdImprovements2023-03-3105753363ns5:PlantMachinery2023-03-3105753363ns5:LongLeaseholdAssetsns5:LandBuildings2022-03-3105753363ns5:LeaseholdImprovements2022-03-3105753363ns5:PlantMachinery2022-03-3105753363ns5:FurnitureFittings2022-03-3105753363ns5:ComputerEquipment2022-03-3105753363ns5:FurnitureFittings2023-03-3105753363ns5:ComputerEquipment2023-03-3105753363ns5:FurnitureFittings2022-03-3105753363ns5:ComputerEquipment2022-03-3105753363ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105753363ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3105753363ns10:OrdinaryShareClass12023-03-31057533631ns10:Director12022-03-31057533631ns10:Director12021-03-31057533631ns10:Director12022-04-012023-03-31057533631ns10:Director12021-04-012022-03-31057533631ns10:Director12023-03-31057533631ns10:Director12022-03-31
REGISTERED NUMBER: 05753363 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

P2M COFFEE LIMITED

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P2M COFFEE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: I Malik





REGISTERED OFFICE: 291 Neasden Lane
London
NW10 1QR





REGISTERED NUMBER: 05753363 (England and Wales)





ACCOUNTANTS: Hovnan & Co Ltd
Chartered Accountants
106 Ashurst Road
Cockfosters
London
EN4 9LG

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,601 38,848
Tangible assets 5 929,453 997,582
951,054 1,036,430

CURRENT ASSETS
Stocks 61,563 60,575
Debtors 6 889,906 319,286
Cash at bank and in hand 119,558 652,406
1,071,027 1,032,267
CREDITORS
Amounts falling due within one year 7 920,860 825,301
NET CURRENT ASSETS 150,167 206,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,101,221

1,243,396

CREDITORS
Amounts falling due after more than one year 8 (74,000 ) (126,667 )

PROVISIONS FOR LIABILITIES (171,389 ) (187,594 )
NET ASSETS 855,832 929,135

CAPITAL AND RESERVES
Called up share capital 9 880,999 880,999
Retained earnings (25,167 ) 48,136
SHAREHOLDERS' FUNDS 855,832 929,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:





I Malik - Director


P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

P2M Coffee Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

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

Franchise fee are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Over life of lease
Improvements to property - Over life of lease
Catering equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Office equipment - 15% on reducing balance

All assets are initially recorded at cost.

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

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

Current or deferred taxation assets and liabilities are not discounted.

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


P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

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

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

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

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements are prepared on the basis that the Company will continue in operational existence for the foreseeable future. This means, in particular, that the Profit and Loss account and Balance Sheet assume no intention or necessity to liquidate or curtail significantly the scale of the operation. The financial statements have been prepared on this basis given the continuing financial support of the Company's bankers and directors and its current ability to trade profitability.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2022 - 83 ) .

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Franchise
fee
£   
COST
At 1 April 2022
and 31 March 2023 172,467
AMORTISATION
At 1 April 2022 133,619
Amortisation for year 17,247
At 31 March 2023 150,866
NET BOOK VALUE
At 31 March 2023 21,601
At 31 March 2022 38,848

5. TANGIBLE FIXED ASSETS
Improvements
Long to Catering
leasehold property equipment
£    £    £   
COST
At 1 April 2022 134,976 1,355,382 391,759
Additions - 2,561 16,734
At 31 March 2023 134,976 1,357,943 408,493
DEPRECIATION
At 1 April 2022 110,445 686,322 227,492
Charge for year 2,508 64,688 17,264
At 31 March 2023 112,953 751,010 244,756
NET BOOK VALUE
At 31 March 2023 22,023 606,933 163,737
At 31 March 2022 24,531 669,060 164,267

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 390,502 49,426 2,322,045
Additions 5,231 8,059 32,585
At 31 March 2023 395,733 57,485 2,354,630
DEPRECIATION
At 1 April 2022 276,733 23,471 1,324,463
Charge for year 12,119 4,135 100,714
At 31 March 2023 288,852 27,606 1,425,177
NET BOOK VALUE
At 31 March 2023 106,881 29,879 929,453
At 31 March 2022 113,769 25,955 997,582

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 17,348 23,596
Other debtors 872,558 295,690
889,906 319,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 466,052 370,224
Taxation and social security 220,451 162,355
Other creditors 194,357 252,722
920,860 825,301

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 74,000 126,667

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
880,999 Ordinary 1 880,999 880,999

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
I Malik
Balance outstanding at start of year - -
Amounts advanced 100,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,000 -

Director loan is non interest bearing and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Malik.