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Registration number: 15272315

LCR Operations Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 October 2025

LCR Operations Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 12

LCR Operations Ltd

Company Information

Directors | Mr Louis James Dixon Ms Amy Michele Campbell

Registered office | First Floor Swan Buildings 20 Swan Street Manchester M4 5JW

Accountants | AIMS Accountants for Business Studio 21 SUM Studios 1 Hartley Street Sheffield S2 3AQ

LCR Operations Ltd

(Registration number: 15272315)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 45,764 | 24,771
Tangible assets | 5 | 278,364 | 141,785
|  | 324,128 | 166,556
Current assets |  |  |
Stocks | 6 | 85,686 | 49,022
Debtors | 7 | 101,992 | 91,930
Cash at bank and in hand |  | 396,856 | 396,427
|  | 584,534 | 537,379
Creditors: Amounts falling due within one year | 8 | (759,424) | (534,508)
Net current (liabilities)/assets |  | (174,890) | 2,871
Total assets less current liabilities |  | 149,238 | 169,427
Creditors: Amounts falling due after more than one year | 8 | (40,212) | (103,984)
Provisions for liabilities |  | (46,515) | (11,184)
Net assets |  | 62,511 | 54,259
Capital and reserves |  |  |
Called up share capital | 9 | 2 | 2
Retained earnings |  | 62,509 | 54,257
Shareholders' funds |  | 62,511 | 54,259

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 April 2026 and signed on its behalf by:

......................................... Mr Louis James Dixon Director |  |

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
First Floor
Swan Buildings
20 Swan Street
Manchester
M4 5JW

These financial statements were authorised for issue by the Board on 30 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Short Leasehold | Duration of the lease
Furniture, fittings and equipment | 25% to 33% straight line
Motor vehicles | 33% straight line
Catering Equipment | 20% to 50% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Other intangible assets | 14% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Financial instruments

Classification
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Recognition and measurement
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt insttrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 169 (2024 - 105).

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4 | Intangible assets

| Other intangible assets £ | Total £
Cost or valuation
At 1 November 2024 | 26,655 | 26,655
Additions acquired separately | 28,400 | 28,400
At 31 October 2025 | 55,055 | 55,055
Amortisation
At 1 November 2024 | 1,884 | 1,884
Amortisation charge | 7,407 | 7,407
At 31 October 2025 | 9,291 | 9,291
Carrying amount
At 31 October 2025 | 45,764 | 45,764
At 31 October 2024 | 24,771 | 24,771

Intangible assets includes brands acquired in respect of the company's operation.

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Catering Equipment £ | Total £
Cost or valuation
At 1 November 2024 | 2,908 | 9,802 | 14,721 | 139,595 | 167,026
Additions | 31,744 | 42,339 | - | 140,419 | 214,502
Disposals | - | (141) | - | - | (141)
At 31 October 2025 | 34,652 | 52,000 | 14,721 | 280,014 | 381,387
Depreciation
At 1 November 2024 | 25 | 884 | 684 | 23,648 | 25,241
Charge for the year | 2,340 | 7,245 | 4,907 | 63,306 | 77,798
Eliminated on disposal | - | (16) | - | - | (16)
At 31 October 2025 | 2,365 | 8,113 | 5,591 | 86,954 | 103,023
Carrying amount
At 31 October 2025 | 32,287 | 43,887 | 9,130 | 193,060 | 278,364
At 31 October 2024 | 2,883 | 8,918 | 14,037 | 115,947 | 141,785

Included within the net book value of land and buildings above is £32,287 (2024 - £2,883) in respect of short leasehold land and buildings.

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6 | Stocks

| 2025 £ | 2024 £
Food, beverages and disposables | 85,686 | 49,022

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 761 | 15,622
Prepayments | 84,886 | 69,308
Other debtors | 16,345 | 7,000
| 101,992 | 91,930

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 35,624 | 39,287
Trade creditors |  | 227,976 | 152,587
Taxation and social security |  | 139,782 | 113,072
Accruals and deferred income |  | 351,623 | 224,754
Other creditors |  | 4,419 | 4,808
|  | 759,424 | 534,508

Creditors include loans from the directors of £6,494 (2024: £7,143).

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 40,212 | 77,234
Other financial liabilities |  | - | 26,750
|  | 40,212 | 103,984

Creditors include loans from the directors of £20,858 (2024: £28,751).

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

10 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 19,354 | 48,483
Other borrowings | 20,858 | 28,751
| 40,212 | 77,234

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 29,129 | 32,144
Other borrowings | 6,495 | 7,143
| 35,624 | 39,287

11 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 231,308 | 203,419
Later than one year and not later than five years | 540,467 | 192,181
Later than five years | 175,500 | 320,135
| 947,275 | 715,735

The amount of non-cancellable operating lease payments recognised as an expense during the year was £211,145 (2024 - £88,567).

12 | Dividends

Interim dividends paid

LCR Operations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

|  | 2025 £ |  | 2024 £
Interim dividend of £20,000.00 (2024 - £Nil) per each Ordinary shares |  | 40,000 |  | -

13 | Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 122,842 | 80,000
Contributions paid to money purchase schemes | 1,321 | 880
| 124,163 | 80,880