GREEN LUX OPERATIONS (UK) LIMITED

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  Annual accounts overdue

  Due 2026-03-31.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the reasons given below. Currently, the company is in a net liability position of £3,285,238. (2023: net liability position of £1,898,024) Based on the projections prepared by management covering twelve months from the approval of these financial statements, and after considering ultimate parent company support, the Company will be able to meet its obligations going forward. It will continue to trade in the foreseeable future. There is a loan in Direct Excel Limited, a fellow group Company which owns the property leased by the Company, which has covenants linked to Loan to Value, Historical Interest Coverage and Historical Debt Servicing of the Company's business and which is secured by a charge over the Company's business. This loan was refinanced by the company in March 2023. Projections show the covenant tests will be passed. The loan in Direct Excel Limited is £15M as of 31st March 2024, see note 16, and becomes repayable in full in 5 years from the first utilisation date of 31 March 2023. The ultimate parent company, Far East Consortium International Limited, has committed that it will provide the necessary financial assistance (if required) to enable the Company to continue its business operations as a going concern for at least 12 months from the date these financial statements are signed. The directors have made inquiries of the ultimate parent about its ability to provide support. On this basis, the directors consider it appropriate to prepare the Company's financial statements on a going concern basis.”

Significant events

• “The UK economy is currently transitioning through a period of high inflation and a cost-of-living crisis. The company has adopted a two-pronged strategy to deal effectively with the current economic scenario.”
• “The hotel's focus will be on increasing the average room rate in line with market conditions and achieving a fair market share.”
• “the hotel continues to focus on new target markets with high inbound demand including Middle East, North America, East Asia and India”
• “The Company has implemented several initiatives designed to enhance revenue growth and guest experience...”
• “The Company has entered into Hotel Management Contract under DHI Hotel Management UK Limited (a fellow subsidiary in the Dorsett Hospitality International Limited Group) effective since 1st of April 2024 and will be liable to pay management fees equal to two point five per cent (2.5%) of the Gross Revenue for each Operating Year ("Base Management Fee") and six per cent (6%) of the Gross Operating Profit (Incentive Management Fee").”
• “The Company has also entered into Trademark Licence Agreement with Dorsett Hospitality International Services Limited (a fellow subsidiary in the Dorsett Hospitality International Limited Group) effective since 1st of April 2024 and will be liable to pay Trademark License fees equal to one per cent (1%) of the Gross Revenue for each Operating Year.”
• “Outstanding loan principal as of the balance sheet date is £15,000,000.”
• “The Company incurred a tax loss of £1,340,429 during the year ended 31 March 2024, which was fully surrendered to a fellow group company under group relief arrangements for nil consideration.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.