ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 14096749

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	MDS HOSPITALITY LIMITED


MDS HOSPITALITY LIMITED REGISTERED NUMBER:14096749

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	5		2,956		-
Tangible assets	6		3,804,342		605,903
			3,807,298		605,903
Current assets
Stocks		15,161		-
Debtors: amounts falling due within one year	7	39,301		47,993
Cash at bank and in hand		100,800		33,324
		155,262		81,317
Creditors: amounts falling due within one year	8	(4,904,782)		(729,407)
Net current liabilities			(4,749,520)		(648,090)
Total assets less current liabilities			(942,222)		(42,187)
Provisions for liabilities
Deferred tax	9	(88,875)		-
Other provisions	10	(36,830)		-
			(125,705)		-
Net liabilities			(1,067,927)		(42,187)

Capital and reserves
Called up share capital	11	100	100
Profit and loss account		(1,068,027)	(42,287)
		(1,067,927)	(42,187)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

K Bhojwani

Director

Date: 27 November 2025

The notes on pages 3 to 10 form part of these financial statements.

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MDS HOSPITALITY LIMITED REGISTERED NUMBER:14096749

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

MDS Hospitality Limited is a private company, limited by shares, registered in England and Wales, company registration number 14096749. The registered office is Ground Floor Office, 9 Ritz Parade, London, England, W5 3RA.

2.	Reporting Period

The prior period of accounts covers the 10 month period from 1 June 2023 to 31 March 2024. The current period of accounts is for the year ended 31 March 2025. As such, the current period and prior periods are not directly comparable.

3.Accounting policies

3.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

3.2

Going concern

The financial statements have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The Company Directors having made appropriate enquiries consider that adequate resources exist for the company to continue in operational existence for the foreseeable future. The company has received confirmation from its parent of continued support to meet its liabilities as they fall due and has received similar confirmation from its ultimate parent company. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements.

3.3

Revenue

Turnover represents net invoiced food and drink sales from the Nipotina restaurant. Turnover is recognised once the food and drink has been delivered to the customers and a sales transaction with the customer has been recognised using an EPOS system.

3.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

3.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Accounting policies (continued)

3.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

3.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

3.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Accounting policies (continued)

3.10

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	Up to lease term on cost
Plant and machinery	-	8 years on cost
Fixtures and fittings	-	8 years on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

3.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

3.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Accounting policies (continued)

3.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 18 (2024-3).

5.	Intangible assets

		Website development
		£
	Cost
	Additions	3,300
	At 31 March 2025	3,300
	Amortisation
	Charge for the year on owned assets	344
	At 31 March 2025	344
	Net book value
	At 31 March 2025	2,956
	At 31 March 2024	-

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Tangible fixed assets

	Leasehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	605,903	-	-	605,903
Additions	2,903,748	266,953	107,729	3,278,430
At 31 March 2025	3,509,651	266,953	107,729	3,884,333
Depreciation
Charge for the year on owned assets	57,852	16,041	6,098	79,991
At 31 March 2025	57,852	16,041	6,098	79,991
Net book value
At 31 March 2025	3,451,799	250,912	101,631	3,804,342
At 31 March 2024	605,903	-	-	605,903

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	2,598	5,850
Other debtors	9,734	42,143
Prepayments and accrued income	26,969	-
	39,301	47,993

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	405,565	83,871
Amounts owed to group undertakings	4,203,183	532,982
Other taxation and social security	68,672	-
Other creditors	76,541	-
Accruals and deferred income	150,821	112,554
	4,904,782	729,407

9.	Deferred taxation

		2025
		£

	Charged to profit or loss	(88,875)
	At end of year	(88,875)

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(88,875)	-
		(88,875)	-

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MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.	Provisions

		Dilapidations provision
		£

	Charged to profit or loss	1,504
	Other movements	35,326
	At 31 March 2025	36,830

11.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 -100) Ordinary shares of £1.00 each	100	100

12.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,430 (2024 -£NIL). Contributions totalling £2,131 (2024 -£NIL) were payable to the fund at the reporting date and are included in creditors.

Not later than 1 year	250,000	187,500
Later than 1 year and not later than 5 years	1,000,000	1,000,000
Later than 5 years	4,740,972	4,975,790
	5,990,972	6,163,290

14.	Controlling party

The ultimate controlling party of the company is LSL Holdings Pvt Ltd, a company incorporated in India. The smallest group into which this entity is consolidated into is the financial statements of LSL Holdings Pvt Ltd whose registered office is 703 Leela Business Park, Andheri - Kurla Road, Andheri (East), Mumbai - 400059, India.

Page 9


MDS HOSPITALITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 27 November 2025 by Andrew Wooding FCA (Senior statutory auditor) on behalf of Menzies LLP.

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