ACCOUNTS - Final Accounts

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: 12832003

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	LE FIORI LIMITED


LE FIORI LIMITED REGISTERED NUMBER:12832003

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	5		499		873
Tangible assets	6		3,000,000		3,539,271
			3,000,499		3,540,144
Current assets
Debtors	7	126,263		743,100
Cash at bank and in hand		3,897		3,567
		130,160		746,667
Creditors: amounts falling due within one year	8	(4,540,908)		(4,836,348)
Net current liabilities			(4,410,748)		(4,089,681)
Total assets less current liabilities			(1,410,249)		(549,537)
Provisions for liabilities
Other provisions	9	(27,026)		(24,200)
			(27,026)		(24,200)
Net liabilities			(1,437,275)		(573,737)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(1,437,375)	(573,837)
	(1,437,275)	(573,737)

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:

Kiran Bhojwani

Director

Date: 27 November 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1


LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Le Fiori 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.

2.	Reporting period

The prior period of accounts covers the seven month period between 1 September 2023 and 31 March 2024. The current accounting period is to the year ended 31 March 2025 and as such, the current period and prior period 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. The entity ceased trading in November 2024 and currently has no active operations. Management is actively exploring strategic options for the company, which include repurposing the entity for alternative plans. However, one of the options under consideration is the liquidation of the company.

As a result, there is a material uncertainty that may cast significant doubt on the entity’s ability to continue as a going concern. The financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.

3.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙ the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Accounting policies (continued)

3.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

3.5

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.

3.6

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.

3.7

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. Patents and licences are being amortised evenly over their estimated useful of five years.

3.8

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.

Investment property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses.

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

Depreciation is provided on the following basis:

Leasehold property	-	Term of lease
Fixtures and fittings	-	8 years straight line
Improvements to property	-	Term of lease

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.

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LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Accounting policies (continued)

3.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

3.10

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.

3.11

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.

3.12

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 Company has no employees other than the directors, who did not receive any remuneration (2024 - NIL).

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LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Intangible assets

		Trademarks
		£
	Cost
	At 1 April 2024	1,870
	At 31 March 2025	1,870
	Amortisation
	At 1 April 2024	997
	Charge for the year on owned assets	374
	At 31 March 2025	1,371
	Net book value
	At 31 March 2025	499
	At 31 March 2024	873

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LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Tangible fixed assets

	Short-term leasehold property	Fixtures and fittings	Improvement to property	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	1,459,055	181,472	2,285,948	3,926,475
Additions	-	17,078	1,983	19,061
At 31 March 2025	1,459,055	198,550	2,287,931	3,945,536
Depreciation
At 1 April 2024	203,363	36,697	147,144	387,204
Charge for the year on owned assets	65,365	23,751	103,907	193,023
Impairment charge	190,327	138,102	36,880	365,309
At 31 March 2025	459,055	198,550	287,931	945,536
Net book value
At 31 March 2025	1,000,000	-	2,000,000	3,000,000
At 31 March 2024	1,255,692	144,775	2,138,804	3,539,271

Debtors

					2025	2024
					£	£

Due after more than one year
Other debtors	63,000	63,000
	63,000	63,000
Due within one year
Amounts owed by group undertakings	100	593,506
Other debtors	8,979	3,039
Prepayments and accrued income	54,184	83,555
	126,263	743,100

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LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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

Trade creditors	34,200	79,495
Amounts owed to group undertakings	4,499,708	4,708,975
Other taxation and social security	-	29,382
Accruals and deferred income	7,000	18,496
	4,540,908	4,836,348

9.	Provisions

		Dilapidations provision
		£

	At 1 April 2024	24,200
	Unwind of discount	2,826
	At 31 March 2025	27,026

Not later than 1 year	165,000	165,000
Later than 1 year and not later than 5 years	660,000	660,000
Later than 5 years	2,157,375	2,322,375
	2,982,375	3,147,375

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

					2025	2024
					£	£

Not later than 1 year	229,750	229,750
Later than 1 year and not later than 5 years	919,000	919,000
Later than 5 years	1,835,447	2,065,197
	2,984,197	3,213,947

Page 7


LE FIORI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Post balance sheet events

Subsequent to the year end the Company transferred the lease in respect of the Ground Floor and Basement of 42A South Audley Street, Grosvenor Square W1K 2PS to an unrelated third party for an amount of £3,000,000. Further, the sublease to KRB Capital has also been removed as the restaurant has stopped trading in the period.

12.	Ultimate controlling party

The ultimate controlling party of the Company is LSL Holdings Pvt Ltd, a company incorporated in India. The financial statements are consolidated in the financial statements of LSL Holdings Pvt Ltd, and is available from 703 Leela Business Park, Andheri - Kurla Road, Andheri (East), Mumbai - 400059, India.

13.	Auditor's information

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

In their report, the auditor emphasised the following matter without qualifying their report:

Material uncertainty related to going concern
We draw attention to note 3.2 in the financial statements, which indicates that the Company has ceased to trade and currently has no active operations. Management is actively exploring strategic options for the Company, which include repurposing the entity for alternative plans. However, one of the options under consideration is liquidation of the Company. As stated in note 3.2, these events or conditions, along with the other matters as set forth in note 3.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 28 November 2025 by Andrew Wooding FCA (Senior statutory auditor) on behalf of Menzies LLP.

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