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REGISTERED NUMBER: 05753363 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

P2M COFFEE LIMITED

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P2M COFFEE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







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 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,254 21,601
Tangible assets 5 1,264,173 929,453
1,269,427 951,054

CURRENT ASSETS
Stocks 51,788 61,563
Debtors 6 884,293 889,906
Cash at bank and in hand 194,189 119,558
1,130,270 1,071,027
CREDITORS
Amounts falling due within one year 7 913,500 920,860
NET CURRENT ASSETS 216,770 150,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,486,197

1,101,221

CREDITORS
Amounts falling due after more than one year 8 (376,312 ) (74,000 )

PROVISIONS FOR LIABILITIES (314,421 ) (171,389 )
NET ASSETS 795,464 855,832

CAPITAL AND RESERVES
Called up share capital 9 880,999 880,999
Retained earnings (85,535 ) (25,167 )
SHAREHOLDERS' FUNDS 795,464 855,832

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 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 2024


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 23 December 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 2024

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 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 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 91 (2023 - 92 ) .

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Franchise
fee
£   
COST
At 1 April 2023 172,467
Additions 1,000
At 31 March 2024 173,467
AMORTISATION
At 1 April 2023 150,866
Amortisation for year 17,347
At 31 March 2024 168,213
NET BOOK VALUE
At 31 March 2024 5,254
At 31 March 2023 21,601

5. TANGIBLE FIXED ASSETS
Improvements
Long to Catering
leasehold property equipment
£    £    £   
COST
At 1 April 2023 134,976 1,357,943 408,493
Additions - 337,692 38,556
At 31 March 2024 134,976 1,695,635 447,049
DEPRECIATION
At 1 April 2023 112,953 751,010 244,756
Charge for year 2,644 68,891 17,930
At 31 March 2024 115,597 819,901 262,686
NET BOOK VALUE
At 31 March 2024 19,379 875,734 184,363
At 31 March 2023 22,023 606,933 163,737

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 395,733 57,485 2,354,630
Additions 43,750 22,548 442,546
At 31 March 2024 439,483 80,033 2,797,176
DEPRECIATION
At 1 April 2023 288,852 27,606 1,425,177
Charge for year 13,518 4,843 107,826
At 31 March 2024 302,370 32,449 1,533,003
NET BOOK VALUE
At 31 March 2024 137,113 47,584 1,264,173
At 31 March 2023 106,881 29,879 929,453

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 21,261 17,348
Other debtors 863,032 872,558
884,293 889,906

Included in Debtors is an amount of £400,000 (2023 - £400,000) advanced to a connected company. The loan is interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 68,591 40,000
Trade creditors 507,360 466,052
Taxation and social security 173,192 220,451
Other creditors 164,357 194,357
913,500 920,860

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 376,312 74,000

P2M COFFEE LIMITED (REGISTERED NUMBER: 05753363)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
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 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
I Malik
Balance outstanding at start of year 100,000 -
Amounts advanced - 100,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,000 100,000

Director loan is non interest bearing and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Malik.