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Registered number: 11369853
Pannus CafÉ Candem Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11369853
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,034 10,128
Tangible Assets 5 65,989 94,366
75,023 104,494
CURRENT ASSETS
Stocks 6 4,631 6,345
Debtors 7 50,157 52,156
Cash at bank and in hand 15,346 23,328
70,134 81,829
Creditors: Amounts Falling Due Within One Year 8 (65,546 ) (66,768 )
NET CURRENT ASSETS (LIABILITIES) 4,588 15,061
TOTAL ASSETS LESS CURRENT LIABILITIES 79,611 119,555
Creditors: Amounts Falling Due After More Than One Year 9 (298,854 ) (326,125 )
NET LIABILITIES (219,243 ) (206,570 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (219,343 ) (206,670 )
SHAREHOLDERS' FUNDS (219,243) (206,570)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sergio Llaras-Branas
Director
12/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pannus CafÉ Candem Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11369853 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Software costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% SLM
Plant & Machinery 20% SLM
Fixtures & Fittings 10% SLM
Office Equipment 20% SLM
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
Page 3
Page 4
4. Intangible Assets
Other Intellectual Property Total
£ £ £
Cost
As at 1 July 2023 7,288 9,034 16,322
As at 30 June 2024 7,288 9,034 16,322
Amortisation
As at 1 July 2023 6,194 - 6,194
Provided during the period 1,094 - 1,094
As at 30 June 2024 7,288 - 7,288
Net Book Value
As at 30 June 2024 - 9,034 9,034
As at 1 July 2023 1,094 9,034 10,128
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Office Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 13,335 55,779 140,314 14,669 224,097
As at 30 June 2024 13,335 55,779 140,314 14,669 224,097
Depreciation
As at 1 July 2023 11,849 45,244 60,318 12,320 129,731
Provided during the period 1,486 10,535 14,007 2,349 28,377
As at 30 June 2024 13,335 55,779 74,325 14,669 158,108
Net Book Value
As at 30 June 2024 - - 65,989 - 65,989
As at 1 July 2023 1,486 10,535 79,996 2,349 94,366
6. Stocks
2024 2023
£ £
Finished goods 4,631 6,345
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,644 1,644
Prepayments and accrued income 707 -
Deposit 44,203 44,203
Landlord's account 3,603 3,603
VAT - 2,706
50,157 52,156
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,462 25,262
Bank loans and overdrafts 17,167 27,816
Other taxes and social security 4,767 1,425
VAT 270 -
Net wages 10,769 7,858
Pension fund 3,470 2,366
Accruals and deferred income 1,600 -
Directors' loan accounts 2,041 2,041
65,546 66,768
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Carulla Expansio SL 12,583 24,026
MCO Expansion UK Ltd 86,096 86,096
Grupo Solgepan Ltd 200,175 216,003
298,854 326,125
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Sergio Llaras-Branas 2,041 - - - 2,041
The above loan is unsecured, interest free and repayable on demand.
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Page 6
12. Ultimate Controlling Party
The company's ultimate controlling party is Pannus Cafe Uk Limited by virtue of his ownership of more than 50% but less than 75% of the issued share capital in the company.
The company's ultimate controlling party is Mco Expansion Uk Limited by virtue of his ownership of more than 25% but less than 50% of the issued share capital in the company.
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