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

COMPANY REGISTRATION NUMBER: 11807837

Lake Merritt Hospitality Operations Three Limited

Filleted Financial Statements

31 March 2025

Lake Merritt Hospitality Operations Three Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	89,834	18,101

Current assets

Stocks		19,795	16,381
Debtors	6	380,263	607,438
Cash at bank and in hand		31,083	8,179
		---------	---------
		431,141	631,998

Creditors: amounts falling due within one year	7	( 745,867)	( 803,891)
		---------	---------
Net current liabilities		( 314,726)	( 171,893)
		---------	---------
Total assets less current liabilities		( 224,892)	( 153,792)

Creditors: amounts falling due after more than one year	8	( 30,000)	–
		---------	---------
Net liabilities		( 254,892)	( 153,792)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 254,992)	( 153,892)
	---------	---------
Shareholders deficit	( 254,892)	( 153,792)
	---------	---------

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 21 May 2026 , and are signed on behalf of the board by:

A Bijayendrayodhin

Director

Company registration number: 11807837

Lake Merritt Hospitality Operations Three 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 £344,726 (2024: £171,893). 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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
Computer equipment	-	20% straight line
Property improvement	-	10% 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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 41 (2024: 40 ).

5. Tangible assets

	Fixtures and fittings	Computer equipment	Property improvement	Total
	£	£	£	£
Cost
At 1 April 2024	44,659	31,289	–	75,948
Additions	61,773	4,710	20,450	86,933
	---------	--------	--------	---------
At 31 March 2025	106,432	35,999	20,450	162,881
	---------	--------	--------	---------
Depreciation
At 1 April 2024	33,507	24,340	–	57,847
Charge for the year	8,813	5,364	1,023	15,200
	---------	--------	--------	---------
At 31 March 2025	42,320	29,704	1,023	73,047
	---------	--------	--------	---------
Carrying amount
At 31 March 2025	64,112	6,295	19,427	89,834
	---------	--------	--------	---------
At 31 March 2024	11,152	6,949	–	18,101
	---------	--------	--------	---------

Included within fixtures and fittings are assets with a net book value of £40,091, which were acquired under a hire purchase agreement.

6. Debtors

	2025	2024
	£	£
Trade debtors	13,187	81,016
Amounts owed by group undertakings and undertakings in which the company has a participating interest	265,500	459,727
Other debtors	101,576	66,695
	---------	---------
	380,263	607,438
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	261,052	301,758
Amounts owed to group undertakings and undertakings in which the company has a participating interest	31,605	–
Social security and other taxes	56,948	96,328
Other creditors	396,262	405,805
	---------	---------
	745,867	803,891
	---------	---------

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

	2025	2024
	£	£
Other creditors	30,000	–
	--------	----

9. Summary audit opinion

The auditor's report dated 21 May 2026 was unqualified .

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

10. 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 Holding s 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 Windermere 1 Limi ted, 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.