LUBKOWSKI SAUNDERS AND ASSOCIATES LIMITED

• ◆

  5 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. In determining the appropriateness of this basis, the director has carried out a comprehensive assessment of the group's financial position as at 30 June 2024, its post-year-end performance, forecasted cash flows, and the availability of funding and strategic support. For the year ended 30 June 2024, the group reported a turnover of £10.49 million, an operating loss of £3.17 million, and a net loss of £3.2 million. Net assets stood at £1.9 million and cash at bank was £179,000. These results reflect a challenging trading environment, characterised by margin pressure, subdued demand, and tight liquidity. Subsequent to the year-end, in July 2025, the group was acquired by EPE Special Opportunities Limited, a UK-based private equity firm with a track record of supporting operational improvement and growth in consumer-facing businesses. The acquisition has provided the group with access to strategic guidance, commercial expertise, and capital resources. As part of the acquisition financing, the group entered into a secured loan note facility with ESO Investments 1 Limited, providing up to £3 million in funding. As at August 2025, £1.8 million had been drawn, with the remaining facility available to support future liquidity needs. The loan notes are repayable over a five-year term and include provisions for payment-in-kind interest, offering flexibility in cash management. The director has reviewed detailed cash flow forecasts covering the period to July 2026. These forecasts incorporate expected trading performance, working capital movements, scheduled loan repayments, and operational costs. While the forecasts show volatility in monthly net cash flows, the group is expected to maintain positive closing cash balances throughout the forecast period, ending at £136,000 in July 2026. The forecasts also reflect the impact of seasonal trading patterns, debtor collection cycles, and inventory management initiatives. Post-acquisition management accounts for July 2025 and bank statements for the period to 26 August 2025 demonstrate improved liquidity, active trading, and cost control. The director has also considered the broader industry outlook, including inflationary pressures, post-COVID demand uncertainty, and overstocking in retail channels. Opportunities arising from portfolio integration, product development, and expansion into premium homeware and gifting markets are expected to support recovery. The group's ability to respond to market trends, streamline operations, and manage working capital effectively is considered critical to sustaining its financial resilience. Based on these considerations, including the group's financial forecasts, post-year-end performance, committed funding facilities, and strategic support from new ownership, the director is satisfied that the group has adequate resources to meet its liabilities as they fall due and to continue operations for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on a going concern basis.”

Group structure

1. LUBKOWSKI SAUNDERS AND ASSOCIATES LIMITED · parent
   1. L.S.A. International Inc. 100% · Raleigh, NC 27608 · Sales of glass, wood & porcelain.
   2. L.S.A. International Limited 100% · Liverpool, L24 9BF · Dormant
   3. MTD Associates SP Zoo 100% · Krakow, Poland, 31-011 · Supply side and QC
   4. Lubkowski Saunders & Associates s.r.o 100% · Praha 4 · Sales of glass, wood & porcelain.

Significant events

• “In July 2025, the group was acquired by EPE Special Opportunities Limited, a UK-based private equity firm. The acquisition has provided the group with strategic guidance, commercial expertise, and access to capital resources. As part of the acquisition, on 2 July 2025, Lubkowski Saunders and Associates Ltd entered into a loan note instrument constituting up to £3,000,000 of 5% secured loan notes due 2030.”

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

Filings

20

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

5

last 12 months

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

• Turnover

  -24.5%

  £13,906,403 → £10,493,191

• Cash

  +83.4%

  £97,836 → £179,465

• Net assets

  -62.8%

  £5,094,635 → £1,896,951

• Employees

  -18.3%

  60 → 49

• Operating profit

  -2,199.7%

  -£138,003 → -£3,173,708

• Profit before tax

  -429.3%

  -£599,592 → -£3,173,708

• Wages

  -8.3%

  £2,796,994 → £2,563,810

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers