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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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LEADING QUALITY ASSURANCE LIMITED
Company Information
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LEADING QUALITY ASSURANCE LIMITED
Contents
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LEADING QUALITY ASSURANCE LIMITED
Strategic report
For the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
The Company delivered a strong performance in the year, continuing its post-pandemic growth trajectory with increased activity across both inspection and training services.
Inspection activity increased to approximately 6,000 nights during the year, alongside significant expansion of the Company’s training offering, which grew to approximately 1,000 training days. This reflects continued demand from clients for both quality assurance assessments and capability development initiatives. Revenue growth was driven by a combination of the acquisition of new clients and increased engagement from existing clients. The Company also expanded its coverage within existing geographic markets through additional client locations, rather than entering entirely new territories. The Company maintained and further strengthened long-standing relationships with leading international luxury hotel groups, reinforcing its position as a trusted partner within the global hospitality sector. The Company continued to diversify its offering beyond traditional inspection services. Increased revenue contributions were generated from training and technology-led products, including the Company’s proprietary myLQA platform, which generated revenue for the first time in 2025. In addition, the Company launched ACADEMY by LQA in July 2025, which contributed incremental revenue in its first year of operation. Turnover increased to £15.38 million (2024: £12.82 million), reflecting strong demand and continued diversification of services. Operating profit decreased to £1.17 million (2024: £1.91 million), reflecting increased investment in strategic growth initiatives. The primary driver of increased costs during the year was continued investment in the Company’s technology platform, including myLQA, with technology expenditure increasing by approximately £1.7 million. In addition, administrative expenses increased significantly as the Company scaled operational capacity, strengthened infrastructure and prepared for continued growth into 2026 and beyond. The Company continued its strategic evolution from a traditional luxury hotel inspection provider towards a broader full-service advisory partner, with increasing emphasis on training, technology-enabled solutions and client engagement platforms. Looking ahead, the directors have strong visibility into trading for 2026 and expect the Company to significantly exceed the revenue and profitability achieved in 2025.
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LEADING QUALITY ASSURANCE LIMITED
Strategic report (continued)
For the Year Ended 31 December 2025
The Company continues to operate in a resilient position with limited exposure to certain traditional financial risks; however, it remains exposed to broader market and sector-specific uncertainties.
Market and sector risk The Company’s performance is linked to the global hospitality industry and international travel patterns. Significant external events, such as pandemics, geopolitical instability or restrictions on international travel, could negatively impact client activity levels and demand for services. Operational and delivery risk As the business continues to expand its service offering across inspections, training and technology, there is an ongoing requirement to ensure consistent delivery quality and successful adoption of new products, including technology platforms. Financial risk While the balance sheet continues to reflect net liabilities, this position arises entirely from historical intercompany balances with the ultimate parent undertaking. These balances are non-interest bearing and primarily relate to funding provided during the COVID-19 period, when the Company’s operations were significantly disrupted. The Company has not required financial support since 2021 and is operating profitably with strong cash generation. Accordingly, the directors consider the Company to have a robust financial position and sufficient resources to meet its obligations as they fall due. Exposure to credit risk is limited given the Company’s diversified client base and the relatively low value and high volume nature of individual receivables. Liquidity risk is considered low, supported by continued profitability and careful working capital management.
- Turnover: £15.38 million (2024: £12.82 million)
- Gross profit: £7.52 million (2024: £5.82 million) - Operating profit: £1.17 million (2024: £1.92 million) - Operating margin: 7.6% (2024: 15.0%) - Revenue per hotel remained broadly stable at approximately £6,000 per property
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LEADING QUALITY ASSURANCE LIMITED
Strategic report (continued)
For the Year Ended 31 December 2025
- Inspection volume of approximately 6,000 nights
- Training delivery of approximately 1,000 days - Client retention in excess of 95% - Headcount growth from 101 to 149 (including employees and long-term contractors) during the year - Increasing adoption of technology products, including myLQA
This report was approved by the board on 20 July 2026 and signed on its behalf.
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LEADING QUALITY ASSURANCE LIMITED
Directors' report
For the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,168,753 (2024 - £1,907,984).
The directors who served during the year were:
Disclosures of strategic importance that would usually be contained in the Directors' Report are presented in the Strategic Report.
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LEADING QUALITY ASSURANCE LIMITED
Directors' report (continued)
For the Year Ended 31 December 2025
The auditor, Sayers Butterworth LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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LEADING QUALITY ASSURANCE LIMITED
Independent auditor's report to the members of Leading Quality Assurance Limited
We have audited the financial statements of Leading Quality Assurance Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity, the Statement of cash flows, the Analysis of net debt and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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LEADING QUALITY ASSURANCE LIMITED
Independent auditor's report to the members of Leading Quality Assurance Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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LEADING QUALITY ASSURANCE LIMITED
Independent auditor's report to the members of Leading Quality Assurance Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussions were held with, and enquiries made of management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcome of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity: • Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pension legislation, and distributable profits legislations. • It is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
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LEADING QUALITY ASSURANCE LIMITED
Independent auditor's report to the members of Leading Quality Assurance Limited (continued)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditors
3rd Floor
12 Gough Square
EC4A 3DW
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LEADING QUALITY ASSURANCE LIMITED
Profit and loss account
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Registered number: 04124971
Balance sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 25 form part of these financial statements.
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LEADING QUALITY ASSURANCE LIMITED
Statement of changes in equity
For the Year Ended 31 December 2025
Statement of changes in equity
For the Year Ended 31 December 2024
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LEADING QUALITY ASSURANCE LIMITED
Statement of cash flows
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Analysis of net funds
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
Leading Quality Assurance Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is Bromley Old Town Hall, 30 Tweedy Road, Bromley, England, BR1 3FE.
The principal activity of the company continued to be that of hotel inspection.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis despite an excess of liabilities over total assets of £3,938,237 due to the impact of COVID-19 on the company's activity in 2020 and 2021. These circumstances, extraordinary in nature and extent, had significant direct and indirect repercussions on economic activity in general and on the company's activities in those years. There has been significant increases in turnover for each of the years from 2022 to 2025 and the company made a profit before tax for 2025 of £1,168,753.
The directors consider the going concern basis to be appropriate since the company's ultimate controlling party has confirmed that it will provide the company with whatever financial support may be necessary in order to enable to the company to meet its liabilities and commitments as they fall due in the foreseeable future.
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done during the year, which includes estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
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.
The estimated useful lives range as follows:
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:
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.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
2.Accounting policies (continued)
Critical accounting estimates and assumptions The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (i) Depreciation of fixed assets Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value, over their expected useful lives. (ii) Bad debt provision The company makes an estimate of the recoverable value of trade and other debtors. In making this assessment the directors consider the age profiling of the debtor, historical experience and prevailing economic conditions.
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
Turnover comprises fees receivable in respect of hotel inspection.
Analysis of turnover by country of destination:
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
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LEADING QUALITY ASSURANCE LIMITED
Notes to the financial statements
For the Year Ended 31 December 2025
Profit & loss account
21.Other financial commitments
During the prior year the company provided security for a loan advanced to a group company by way of a fixed and floating charge over the assets of the company. This has now been repaid in full in the current year.
The parent company of the smallest group of which Leading Quality Assurance Limited is a member and consolidated accounts are prepared is LQA Holdingco LLC. Their registered office is 301 Commerce St, Suite 1600, Fort Worth, TX 76102.
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