MANHATTAN LOFT ST. PANCRAS HOTEL LIMITED

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

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company's statement of financial position reflects a positive net asset position of £343,299 at the year end date (2023 - £738,857), within which is included a liability due to the parent company of £11,640,512 (2023 - £15,629,611). The Company has received confirmation from the parent company that this balance will not be called for payment unless the company is able to make such repayment and still continue to meet its operational liabilities as they fall due. The hotel has now reestablished following the lifting of COVID 19 restrictions and is trading profitably. The directors have prepared cash flow forecasts for the twelve months from the date of approval of these financial statements. These forecasts show that the company is expected to be able to meet its operational liabilities as they fall due and that the bank loan covenants on the parent company's loan which is secured on the hotel property used in the company's operations and for which the company is a guarantor, will be met over twelve-month period. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.”

Significant events

• “The company's principal activity is the operation of the Marriott Renaissance Hotel at St Pancras Station. The hotel is leased from its immediate parent company, St Pancras Chambers Investments Limited.”
• “The company achieved turnover of £38.8m during its current financial year, compared to £39.5m last year with a gross margin of 13% and EBITDA margin of 11%.”
• “The primary risks facing the hotel industry is the continuing threat of terrorism, the economic and political uncertainty and the cyclical nature of hotel performance. The reliance of hotels on economic growth as well as consumer confidence also plays a role.”

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

Filings

2

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.