REGISTERED NUMBER: 11178081 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

L1 Hotels Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Bliss

D C Brewitt

REGISTERED OFFICE:

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

REGISTERED NUMBER:

11178081 (England and Wales)

AUDITORS:

Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

FIXED ASSETS

Tangible assets

4

3,098,389

3,260,911

CURRENT ASSETS

Stocks

3,432

4,680

Debtors

5

172,691

170,056

Cash at bank

380,843

210,949

556,966

385,685

CREDITORS

Amounts falling due within one year

6

3,818,261

3,811,773

NET CURRENT LIABILITIES

(3,261,295

)

(3,426,088

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(162,906

)

(165,177

)

PROVISIONS FOR LIABILITIES

59,905

78,397

NET LIABILITIES

(222,811

)

(243,574

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(223,811

)

(244,574

)

(222,811

)

(243,574

)

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 Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

D C Brewitt - Director

1.	STATUTORY INFORMATION

L1 Hotels 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.

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.

At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next 12 months, having reviewed cashflow forecasts for the next 12 months and the availability of working capital, the Director's are of the opinion that the company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

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

The turnover in the profit & loss account represents net invoice value of goods or services provided on cash or credit basis, excluding value added tax.

Revenue is recognised upon delivery of a service and/or check in of the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Straight line over 25 years

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks

The values in the Financial Statements reported as stock comprise of goods in hand at the year end, using the first in, first out method of valuation and includes all costs incurred for the purchase, transportation and handling fees in bringing stock to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

3,028,070

352,717

3,380,787

Additions

2,566

12,352

14,918

At 31 December 2024

3,030,636

365,069

3,395,705

DEPRECIATION

At 1 January 2024

80,749

39,127

119,876

Charge for year

121,225

56,215

177,440

At 31 December 2024

201,974

95,342

297,316

NET BOOK VALUE

At 31 December 2024

2,828,662

269,727

3,098,389

At 31 December 2023

2,947,321

313,590

3,260,911

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

4,087

5,486

Other debtors

168,604

164,570

172,691

170,056

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Payments on account

5,000

-

Trade creditors

132,769

54,877

Amounts owed to group undertakings

3,556,109

3,060,929

Taxation and social security

33,443

54,745

Other creditors

90,940

641,222

3,818,261

3,811,773

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Gregory Newton FCCA (Senior Statutory Auditor)

for and on behalf of Douglas Fairless Partnership

8.	ULTIMATE PARENT COMPANY

The ultimate parent company is Hope Street Hotel Ltd.

The registered office of the parent is as follows:

Seymour Chambers

92 London Road

Liverpool

L3 5NW