Lake Merritt Hospitality Operations Two Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11679409

Lake Merritt Hospitality Operations Two Limited

Filleted Financial Statements

31 March 2025

Lake Merritt Hospitality Operations Two Limited

Statement of Financial Position

31 March 2025

	2025	2024
		(restated)
Note	£	£

Fixed assets

Intangible assets	5	1	1
Tangible assets	6	48,224	36,997
		--------	--------
		48,225	36,998

Current assets

Stocks		1,297	1,371
Debtors	7	22,966	29,180
Cash at bank and in hand		38,878	9,353
		--------	--------
		63,141	39,904

Creditors: amounts falling due within one year	8	( 330,532)	( 212,614)
		---------	---------
Net current liabilities		( 267,391)	( 172,710)
		---------	---------
Total assets less current liabilities		( 219,166)	( 135,712)

Creditors: amounts falling due after more than one year	9	–	( 63,000)
		---------	---------
Net liabilities		( 219,166)	( 198,712)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 219,266)	( 198,812)
	---------	---------
Shareholders deficit	( 219,166)	( 198,712)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 27 April 2026 , and are signed on behalf of the board by:

A Bijayendrayodhin

Director

Company registration number: 11679409

Lake Merritt Hospitality Operations Two Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, United Kingdom, WC2H 7DQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the year end, the company has net current liabilities of £267,391 (2024: £172,710). At the time approving the financial statements, the company has adequate resources to continue in operational existence for the foreseeable future on the understanding that the company has the ongoing support of group entities which have lent money to the company. The company is reliant on its parent company, Lake Merritt Hospitality Holdings Limited, which has confirmed that it will provide the necessary financial support for a period of at least 12 months from the date of approval of the financial statements. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty as a result if the factors above and that they can continue to adopt the going concern basis in preparing the directors' report and accounts.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods and services rendered net of discounts and value added tax. Revenue corresponds to the value of goods and services sold by the company in the ordinary course of business. Revenues are primarily derived from the sale of hotel accommodation, food and beverage. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on dispatch of the goods or service); the amount of the revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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 costs of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet 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 and loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 9 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 (as restated) and 31 March 2025	1
	----
Amortisation
At 1 April 2024 and 31 March 2025	–
	----
Carrying amount
At 31 March 2025	1
	----
At 31 March 2024	1
	----

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024 (as restated)	343,264	5,639	348,903
Additions	22,651	–	22,651
	---------	-------	---------
At 31 March 2025	365,915	5,639	371,554
	---------	-------	---------
Depreciation
At 1 April 2024	309,670	2,236	311,906
Charge for the year	10,357	1,067	11,424
	---------	-------	---------
At 31 March 2025	320,027	3,303	323,330
	---------	-------	---------
Carrying amount
At 31 March 2025	45,888	2,336	48,224
	---------	-------	---------
At 31 March 2024	33,594	3,403	36,997
	---------	-------	---------

7. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	8,611	5,668
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11,707	–
Other debtors	2,648	23,512
	--------	--------
	22,966	29,180
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	–	42,000
Trade creditors	8,685	18,244
Amounts owed to group undertakings and undertakings in which the company has a participating interest	172,706	100,999
Social security and other taxes	16,154	4,842
Other creditors	132,987	46,529
	---------	---------
	330,532	212,614
	---------	---------

During the year management conducted a review with regards to the terms in respect of amounts due to group undertakings and reclassified the amounts previously disclosed within creditors falling due after more than one year to creditors falling due within one year. The corrected policy has been retrospectively applied and the comparative figures restated accordingly.

9. Creditors: amounts falling due after more than one year

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	–	63,000
	----	--------

Bank loans are secured against the property and by fixed and floating charges over the assets of the company.

10. Comparative restatement

As disclosed in note 10 to the financial statements, the amounts due to group undertakings, previously classified as "due after more than one year," were reclassified as "due within one year," as these amounts were payable on demand. The effect was to reduce the amount classified as creditors due after more than one year by £34,706 and increase creditors due within one year by this amount. There was no effect on profit /loss for the year and no effect on the net liability figure in relation to the comparative year. No adjustments were required with regards to amounts due from group undertakings.

11. Other financial commitments

The company has entered into a commitment to guarantee a loan issued to its parent undertaking for up to £1,000,000, supported by a debenture, bond and floating charge over the assets of the company.

12. Summary audit opinion

The auditor's report dated 29 April 2026 was unqualified .

The senior statutory auditor was Terrence Bourne , for and on behalf of Moore Kingston Smith LLP .

13. Controlling party

The parent of the smallest group to prepare consolidated financial statements including this company is Lake Merritt Hospitality Holdings Limited. The registered office of Lake Merritt Hospitality Holdings Limited is 10 Orange Street, Haymarket, London, WC2H 7DQ. Copies of the consolidated financial statements can be obtained from Companies House. The immediate parent company is LM York 1 Limited , a company incorporated in England and Wales. The ultimate parent company is Lake Merritt UK Hospitality Fund , a company incorporated in Mauritius. The registered office is 35 Cybercity, Level 5, Alexander House, Ebene. Mauritius. There is no ultimate controlling party .