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REGISTERED NUMBER: 06371208 (England and Wales)


CM Restaurant Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






CM Restaurant Ltd (Registered number: 06371208)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


CM Restaurant Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Dr A C Mouralidarane
Mr J Mouralidarane





SECRETARY: Mrs R C Mouralidarane





REGISTERED OFFICE: Airport House
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 06371208 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
CM Restaurant Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CM Restaurant Ltd for the year ended 31 March 2024 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CM Restaurant Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CM Restaurant Ltd and state those matters that we have agreed to state to the Board of Directors of CM Restaurant Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CM Restaurant Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CM Restaurant Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of CM Restaurant Ltd. You consider that CM Restaurant Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CM Restaurant Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


23 September 2024

CM Restaurant Ltd (Registered number: 06371208)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,712 37,201
Property, plant and equipment 5 2,572,804 2,821,332
2,604,516 2,858,533

CURRENT ASSETS
Inventories 6 17,487 4,887
Debtors 7 996,363 958,536
Cash at bank and in hand 289,037 669,648
1,302,887 1,633,071
CREDITORS
Amounts falling due within one year 8 995,686 669,148
NET CURRENT ASSETS 307,201 963,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,911,717

3,822,456

CREDITORS
Amounts falling due after more than one
year

9

(879,870

)

(1,173,489

)

PROVISIONS FOR LIABILITIES 12 (461,279 ) (482,210 )
NET ASSETS 1,570,568 2,166,757

CM Restaurant Ltd (Registered number: 06371208)

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 1,570,468 2,166,657
SHAREHOLDERS' FUNDS 1,570,568 2,166,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr J Mouralidarane - Director


CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

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

Turnover is derived from the ordinary activities of the business and is recognised when the customers take delivery of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Goodwill was initially being amortised over 20 years from the date of acquisition but has been revised to 10 years to be in accordance with FRS 102 starting from the date of adoption of FRS 102 being 2016.

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

The KFC licence is being amortised evenly over the term of the licence of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - straight line over the life of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost

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


CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

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

Current or deferred taxation assets and liabilities are not discounted.

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

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

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

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 105 (2023 - 115 ) .

CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023 90,000 77,707 167,707
Additions - 11,719 11,719
At 31 March 2024 90,000 89,426 179,426
AMORTISATION
At 1 April 2023 74,005 56,501 130,506
Charge for year 5,332 11,876 17,208
At 31 March 2024 79,337 68,377 147,714
NET BOOK VALUE
At 31 March 2024 10,663 21,049 31,712
At 31 March 2023 15,995 21,206 37,201

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 205,579 1,307,639 2,983,407 1,175 4,497,800
Additions - 14,474 238,008 - 252,482
Disposals - - - (1,175 ) (1,175 )
Reclassification/transfer (111,344 ) - 111,344 - -
At 31 March 2024 94,235 1,322,113 3,332,759 - 4,749,107
DEPRECIATION
At 1 April 2023 81,818 819,959 774,691 - 1,676,468
Charge for year 2,350 68,781 428,704 - 499,835
Reclassification/transfer (2,598 ) - 2,598 - -
At 31 March 2024 81,570 888,740 1,205,993 - 2,176,303
NET BOOK VALUE
At 31 March 2024 12,665 433,373 2,126,766 - 2,572,804
At 31 March 2023 123,761 487,680 2,208,716 1,175 2,821,332

CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 237,070 336,497 573,567
Transfer to ownership (237,070 ) (336,497 ) (573,567 )
At 31 March 2024 - - -
DEPRECIATION
At 1 April 2023 94,828 124,399 219,227
Transfer to ownership (94,828 ) (124,399 ) (219,227 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 142,242 212,098 354,340

6. INVENTORIES
2024 2023
£    £   
Finished goods 17,487 4,887

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 126,928 84,870
Other debtors 89,435 143,666
216,363 228,536

Amounts falling due after more than one year:
Amounts owed by group undertakings 780,000 730,000

Aggregate amounts 996,363 958,536

CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 256,306 224,264
Trade creditors 389,616 105,099
Amounts owed to group undertakings 50,000 -
Taxation and social security 203,059 168,699
Other creditors 96,705 171,086
995,686 669,148

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 879,870 1,173,489

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 153,200 381,499

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 218,500 218,500
Between one and five years 874,000 874,000
1,092,500 1,092,500

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 1,604
Bank loans 1,136,176 1,396,149
1,136,176 1,397,753

The bank loans and overdrafts are secured by way of a legal mortgage and debentures incorporating both fixed and floating charges over the assets and undertakings of the company.

CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 461,279 482,210

Deferred
tax
£   
Balance at 1 April 2023 482,210
Provided during year (20,931 )
Balance at 31 March 2024 461,279

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

14. RESERVES
Retained
earnings
£   

At 1 April 2023 2,166,657
Deficit for the year (596,189 )
At 31 March 2024 1,570,468

CM Restaurant Ltd (Registered number: 06371208)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

15. RELATED PARTY DISCLOSURES

Key management personnel

Included within creditors are amounts due to a director of £5,078 (2023: £5,078) at balance sheet date.

Companies under common control

Included within debtors are amounts due from companies that were controlled by a director during the year of £780,000 (2023: £730,000) at balance sheet date. Interest was charged on these balances and no set repayment terms are in place. Expenses were paid for related parties by the company and related parties also paid for expenses on behalf of the company during the year.This loan was interest free.

There is loan to CTM Restaurants Limited and this is interest free and no set repayment terms are in place.
This is a subordinated loan and covered by a deed of undertaking given to HSBC Bank that the company will not repay the creditor and the creditor shall not accept repayment from the company of any part of the loan.

The undertaking cannot be discharged or released or varied by any arrangement between the Creditor and the Company without prior written consent of HSBC Bank and remains a continuing security binding the creditor regardless of any change in style or constitution of the Company.

Included within creditors are amounts due to a company that was controlled by a director during the year of £50,000 (2023: nil) at balance sheet date. Expenses were paid for the related party by the company and the related party also paid for expenses on behalf of the company during the year. These loans are interest free and no set repayment terms are in place.