REGISTERED NUMBER: 13875586 (England and Wales)

CTM Restaurants Limited

Strategic Report,

Report of the Directors and

Audited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Statement of Financial Position

11

Notes to the Financial Statements

12

DIRECTORS:

Mr J Mouralidarane

Dr A C Mouralidarane

Mr C Z Mouralidarane

SECRETARY:

Mrs R C Mouralidarane

REGISTERED OFFICE:

167-169 Great Portland Street

5th Floor

London

W1W 5PF

REGISTERED NUMBER:

13875586 (England and Wales)

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

The directors present their strategic report for the year ended 31 March 2025.

CTM Restaurants Ltd operates within the food and beverage industry, providing highquality services and products to customers across Kent and Sussex. The business achieved stable growth during the year, supported by customer loyalty and operational efficiency. Key developments included menu innovation, enhanced digital engagement, and strengthened supply chain relationships.

REVIEW OF BUSINESS

The company saw a slight growth in turnover from last year. This is in line with expected trend over the last few years as the company continue to expand its areas of operation, however the increase in turnover did not lead to an increase in the net profit due to additional trading sites opening in the year resulting in a more than proportionate increase in overheads compared with their contribution. The directors expect margin and contribution for that matter to increase in the future as all the new branches opened in the year begin to make full contribution towards profit.

PRINCIPAL RISKS AND UNCERTAINTIES

The company faces risks including market competition, inflationary pressures, and changes in consumer spending habits. Management continuously monitors these risks and maintains contingency plans to ensure resilience.

KEY PERFORMANCE INDICATORS

The main performance indicators are the sales and the profit margins. Most products are sold at an agreed margin thereby leading to a positive correlation between sales and profit. All other costs apart from cost of sales are fairly fixed. The directors monitor these on a monthly basis to ensure that poor performers are picked up on time and dealt with. They also ensure that other overheads are within cost limits as their effect on the ability to remain in operational existence and profitability is critical.

2025

2024

£

£

Turnover

9,578

9,039

Gross Profit

6,145

5,984

Pre Tax Net Profit /(Loss)

(34)

324

The directors believe that other variables of performance indicators are marginal and not the best indicators of the overall performance, development and position of the company.

COMPANY POLICY ON PAYMENT OF CREDITORS

The policy of the company is to agree terms of payment prior to commencing trade with a supplier and to abide by those terms on a timely submission of invoices.

POLICY ON EMPLOYEES

The company is committed to achieving a working environment which provides equality of opportunity and freedom from unlawful discrimination on the basis of gender, sexual orientation, marital or civil partner status, gender reassignment, race, religion or belief, colour, nationality, ethnic or national origin, disability or age, pregnancy or maternity, trade union membership or the fact that they are part-time workers. The company's Equality and Diversity policy aims to remove unfair and discriminatory practices within the company and to encourage full contribution from its diverse community. The company is committed to actively opposing all forms of discrimination. The company also aims to provide a service that does not discriminate against its clients in the means by which they can access the services supplied by the company. The company believes that the directors, employees and customers are entitled to be treated with respect and dignity.The company's employment policy is to provide equal opportunity to all current and prospective employees without any discrimination. They endeavour to provide a work environment in which all individuals are treated with respect and dignity.

SOCIAL, ENVIRONMENT AND ETHICAL MATTERS

The company believes that by operating in an ethical and social aware manner they will help preserve the environment; that being an integral part of efficient and profitable business management. The directors recognise that success in these areas depends on the involvement and commitment of everyone in the organisation.The company is committed to environmental responsibility, sourcing locally where

possible, minimizing food waste, and supporting community initiatives in its operating areas.

FUTURE DEVELOPMENT

CTM Restaurants Ltd plans to expand its footprint across the South East, introduce

delivery-only kitchens, and continue enhancing sustainability through local sourcing and

waste reduction initiatives.

ON BEHALF OF THE BOARD:

Dr A C Mouralidarane - Director

16 December 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a Restaurant and cafe.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr J Mouralidarane

Dr A C Mouralidarane

Mr C Z Mouralidarane

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Alton & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Dr A C Mouralidarane - Director

16 December 2025

Opinion

We have audited the financial statements of CTM Restaurants Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Last years accounts was not audited.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework that are applicable to the company and determined that the most significant are the food standards regulation, anti bribery regulations and money laundering regulations. We understand how the company is complying with those regulations by making enquiries of management and key personel; we also reviewed correspondence files. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements using our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards) and from inspection of the company's regulatory and legal correspondence. We discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated those identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Altan Kemal FCA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

29 December 2025

REVENUE

9,578,280

9,038,897

Cost of sales

3,433,372

3,054,556

GROSS PROFIT

6,144,908

5,984,341

Administrative expenses

5,987,249

5,453,983

OPERATING PROFIT

4

157,659

530,358

Interest receivable and similar income

39,895

30,838

197,554

561,196

Interest payable and similar expenses

5

231,550

237,292

(LOSS)/PROFIT BEFORE TAXATION

(33,996

)

323,904

Tax on (loss)/profit

6

(590,793

)

367,823

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

556,797

(43,919

)

Retained earnings at beginning of year

(395,917

)

(351,998

)

RETAINED EARNINGS AT END OF YEAR

160,880

(395,917

)

FIXED ASSETS

Intangible assets

7

71,193

37,506

Property, plant and equipment

8

5,137,829

4,548,538

5,209,022

4,586,044

CURRENT ASSETS

Inventories

9

36,369

35,532

Debtors

10

442,145

603,739

Cash at bank and in hand

177,478

242,043

655,992

881,314

CREDITORS

Amounts falling due within one year

11

2,313,702

2,336,801

NET CURRENT LIABILITIES

(1,657,710

)

(1,455,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,551,312

3,130,557

CREDITORS

Amounts falling due after more than one year

12

(3,232,458

)

(2,785,254

)

PROVISIONS FOR LIABILITIES

15

(157,874

)

(741,120

)

NET ASSETS/(LIABILITIES)

160,980

(395,817

)

CAPITAL AND RESERVES

Called up share capital

16

100

100

Retained earnings

17

160,880

(395,917

)

SHAREHOLDERS' FUNDS

160,980

(395,817

)

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

Dr A C Mouralidarane - Director

1.	STATUTORY INFORMATION

CTM Restaurants 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Patents and licences 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.

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% 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.

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

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

2025

2024

£

£

Wages and salaries

2,833,526

2,561,317

Social security costs

214,984

182,889

Other pension costs

43,425

40,191

3,091,935

2,784,397

The average number of employees during the year was as follows:

2025

2024

Operations

211

210

Administration & accounts

8

8

Directors

3

3

222

221

2025

2024

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

5,100

1,275

Other operating leases

935,148

813,853

Depreciation - owned assets

518,351

737,420

Patents and licences amortisation

6,313

2,714

Auditors' remuneration

9,000

-

Taxation advisory services

1,000

-

Other non- audit services

7,600

6,000

Auditor's remuneration

The company’s statutory audit is performed as part of the group audit.

Audit fees of £9000 were paid by the company, of which £6000 relates to the audit of the company’s own financial statements.

The remaining £3000 relates to the audit of the consolidated group financial statements, which the company has paid on behalf of the parent company.

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

231,550

237,292

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

-

7,547

Tax refund

(7,547

)

-

Total current tax

(7,547

)

7,547

Deferred tax

(583,246

)

360,276

Tax on (loss)/profit

(590,793

)

367,823

7.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2024

40,220

Additions

40,000

At 31 March 2025

80,220

AMORTISATION

At 1 April 2024

2,714

Amortisation for year

6,313

At 31 March 2025

9,027

NET BOOK VALUE

At 31 March 2025

71,193

At 31 March 2024

37,506

8.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Short

Plant and

and

property

leasehold

machinery

fittings

Totals

£

£

£

£

£

COST

At 1 April 2024

872,444

1,548,457

2,452,592

568,181

5,441,674

Additions

154,311

5,329

277,908

670,094

1,107,642

At 31 March 2025

1,026,755

1,553,786

2,730,500

1,238,275

6,549,316

DEPRECIATION

At 1 April 2024

5,235

222,741

554,417

110,743

893,136

Charge for year

6,160

170,304

252,073

89,814

518,351

At 31 March 2025

11,395

393,045

806,490

200,557

1,411,487

NET BOOK VALUE

At 31 March 2025

1,015,360

1,160,741

1,924,010

1,037,718

5,137,829

At 31 March 2024

867,209

1,325,716

1,898,175

457,438

4,548,538

9.	INVENTORIES

2025

2024

£

£

Finished goods

36,369

35,532

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

22,863

94,012

Other debtors

9,934

94,186

Rent deposits

89,269

89,269

Delivery companies debtors

11,682

9,128

Purchase ledger debit balance

41,701

53,307

Tax

7,547

-

Prepayments

259,149

263,837

442,145

603,739

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 13)

342,505

439,526

Trade creditors

797,375

725,270

Tax

-

7,547

Social security and other taxes

51,819

54,254

VAT

125,426

176,740

Net wages control account

35,263

35,321

Pensions control account

5,096

6,592

C M Restaurants Limited

855,000

780,000

Rent free control account

6,667

-

Directors' current accounts

22,773

4,003

Accrued expenses

71,778

107,548

2,313,702

2,336,801

12.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 13)

3,216,103

2,785,254

Rent free control account

16,355

-

3,232,458

2,785,254

13.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

613

-

Bank loans

341,892

439,526

342,505

439,526

Amounts falling due between one and two years:

Bank loans - 1-2 years

341,892

439,526

Amounts falling due between two and five years:

Bank loans - 2-5 years

1,025,675

1,318,577

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,848,536

1,027,151

14.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

3,557,995

3,224,780

The following securities have been provided to the Bank:

1) Debenture in HSBC's favour from CTM Restaurants Limited,

2) Guarantee in HSBC's favour from Iceking Restaurants Ltd, J M Restaurants Ltd, CM Restaurant Ltd, Mandoth Restaurants Ltd and CTM Restaurants Ltd,

3) Agreement between Jonathan Mouralidarane (the Subordinated Creditor(s), CTM Restaurants Limited and HSBC to postpone certain repayment of all indebtedness which CTM Restaurants Limited owes to the Subordinated Creditor(s),

4) Agreement between CM Restaurants Ltd (the Subordinated Creditor(s), CTM Restaurants Limited and HSBC to postpone certain repayment of £1,100,000 which CTM Restaurants Limited owes to the Subordinated Creditor(s).

15.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

575,620

741,120

Tax losses carried forward

(417,746

)

-

157,874

741,120

Deferred

tax

£

Balance at 1 April 2024

741,120

Credit to Income Statement during year

(583,246

)

Balance at 31 March 2025

157,874