LQ SPA & GOLF RESORTS LIMITED

• ⚠

  Material uncertainty over going concern

  Although the group balance sheet shows negative shareholders' fund of £302,056 after reporting losses after tax of £479,916 for the year ended 30 November 2024, subsequent to the balance sheet date, the directors have secured a number of long-term corporate customer contracts which provides significant long-term confidence, partly as the result of a large regional investment. Bank loans of £4.7m were refinanced with additional funding secured to £5.7m with a new lender post year end but before the date of signing the accounts. The new bank loan has a final repayment date falling due in February 2031. The additional funding will support the development of the café and works within the restaurant, to strengthen future revenue generation. Hence, the directors have a reasonable expectation that the group will continue to operate and meet its liabilities as they fall due, and therefore, the financial statements have been prepared on a going concern basis.

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 102

Reporting scope

Consolidated group

Auditor

FWC Advisory Ltd

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Although the group balance sheet shows negative shareholders' fund of £302,056 after reporting losses after tax of £479,916 for the year ended 30 November 2024, subsequent to the balance sheet date, the directors have secured a number of long-term corporate customer contracts which provides significant long-term confidence, partly as the result of a large regional investment. Bank loans of £4.7m were refinanced with additional funding secured to £5.7m with a new lender post year end but before the date of signing the accounts. The new bank loan has a final repayment date falling due in February 2031. The additional funding will support the development of the café and works within the restaurant, to strengthen future revenue generation. Hence, the directors have a reasonable expectation that the group will continue to operate and meet its liabilities as they fall due, and therefore, the financial statements have been prepared on a going concern basis.”

Group structure

1. LQ SPA & GOLF RESORTS LIMITED · parent
   1. Ufford Park Limited 100% · SY11 3EN · Hotel, spa, golf, and leisure operations

Significant events

• “The year was significantly impacted by operational challenges following the launch of the new spa and leisure facilities. During the early trading period, severe national weather conditions resulted in flooding within parts of the new build, while technical issues within the Therapy Rooms further constrained revenue generation.”

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.