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REGISTERED NUMBER: 05827067 (England and Wales)


JM Restaurants Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






JM Restaurants Ltd (Registered number: 05827067)






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


JM Restaurants Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr J Mouralidarane
Dr A C Mouralidarane





SECRETARY: Mrs R C Mouralidarane





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





REGISTERED NUMBER: 05827067 (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
JM Restaurants 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 JM Restaurants 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 JM Restaurants 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 JM Restaurants Ltd and state those matters that we have agreed to state to the Board of Directors of JM Restaurants 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 JM Restaurants Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JM Restaurants 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 JM Restaurants Ltd. You consider that JM Restaurants 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 JM Restaurants 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

JM Restaurants Ltd (Registered number: 05827067)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,837 5,249
Property, plant and equipment 5 668,167 1,032,282
673,004 1,037,531

CURRENT ASSETS
Inventories 6 10,965 6,252
Debtors 7 612,842 593,586
Cash at bank and in hand 424,222 697,470
1,048,029 1,297,308
CREDITORS
Amounts falling due within one year 8 513,103 540,462
NET CURRENT ASSETS 534,926 756,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,207,930

1,794,377

CREDITORS
Amounts falling due after more than one
year

9

(482,658

)

(780,402

)

PROVISIONS FOR LIABILITIES 11 (97,092 ) (117,758 )
NET ASSETS 628,180 896,217

JM Restaurants Ltd (Registered number: 05827067)

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 628,080 896,117
SHAREHOLDERS' FUNDS 628,180 896,217

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


JM Restaurants Ltd (Registered number: 05827067)

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

1. STATUTORY INFORMATION

JM Restaurants 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.

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 - 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% 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.

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.


JM Restaurants Ltd (Registered number: 05827067)

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

2. ACCOUNTING POLICIES - continued
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 58 (2023 - 129 ) .

JM Restaurants Ltd (Registered number: 05827067)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 20,828
AMORTISATION
At 1 April 2023 15,579
Charge for year 412
At 31 March 2024 15,991
NET BOOK VALUE
At 31 March 2024 4,837
At 31 March 2023 5,249

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 529,023 877,276 1,494,056 - 2,900,355
Additions 19,843 62,889 63,312 19,995 166,039
Reclassification/transfer (120,000 ) - - - (120,000 )
At 31 March 2024 428,866 940,165 1,557,368 19,995 2,946,394
DEPRECIATION
At 1 April 2023 238,885 666,559 962,629 - 1,868,073
Charge for year 19,431 86,448 308,187 4,999 419,065
Reclassification/transfer (8,911 ) - - - (8,911 )
At 31 March 2024 249,405 753,007 1,270,816 4,999 2,278,227
NET BOOK VALUE
At 31 March 2024 179,461 187,158 286,552 14,996 668,167
At 31 March 2023 290,138 210,717 531,427 - 1,032,282

JM Restaurants Ltd (Registered number: 05827067)

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 are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 240,596 196,963 437,559
DEPRECIATION
At 1 April 2023 70,320 118,178 188,498
Charge for year 36,090 - 36,090
Reclassification/transfer 108,268 78,785 187,053
At 31 March 2024 214,678 196,963 411,641
NET BOOK VALUE
At 31 March 2024 25,918 - 25,918
At 31 March 2023 170,276 78,785 249,061

6. INVENTORIES
2024 2023
£    £   
Finished goods 10,965 6,252

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,116 96,325
Amounts owed by group undertakings 506,567 456,567
Other debtors 51,159 40,694
612,842 593,586

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 132,012 29,753
Hire purchase contracts (see note 10) 61,677 93,398
Trade creditors 138,666 147,896
Taxation and social security 124,432 221,455
Other creditors 56,316 47,960
513,103 540,462

JM Restaurants Ltd (Registered number: 05827067)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 482,658 677,838
Hire purchase contracts (see note 10) - 102,564
482,658 780,402

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 69,452 103,504
Between one and five years - 114,365
69,452 217,869

Finance charges repayable:
Within one year 7,775 10,106
Between one and five years - 11,801
7,775 21,907

Net obligations repayable:
Within one year 61,677 93,398
Between one and five years - 102,564
61,677 195,962

Non-cancellable operating leases
2024 2023
£    £   
Within one year 69,000 69,000
Between one and five years 276,000 276,000
345,000 345,000

JM Restaurants Ltd (Registered number: 05827067)

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

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 97,092 117,758

Deferred
tax
£   
Balance at 1 April 2023 117,758
Provided during year (20,666 )
Balance at 31 March 2024 97,092

12. CALLED UP SHARE CAPITAL

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

13. RESERVES
Retained
earnings
£   

At 1 April 2023 896,117
Deficit for the year (268,037 )
At 31 March 2024 628,080

14. RELATED PARTY DISCLOSURES

Key management personnel

Included within creditors are amounts due to a director of £5,944 (2023: £6,184) at balance sheet date.
No interest is charged on this balance and no set repayment terms on place.

Companies under common control

Included within debtors are amounts due from companies that were controlled by a director during the year of £509,567 (2023: £456,567) 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.