NO1 LOUNGES (LGW) LTD

• ⚠

  Insolvency history on file

  Companies House holds prior insolvency events for this company. Detail and outcome on the official register.

• ◆

  3 officer resignations in last 12 months

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

1. NO1 LOUNGES (LGW) LTD 2016-08-02 → present
2. NO.1 TRAVELLER (LGW) LTD 2010-02-08 → 2016-08-02
3. BACKGROUND AVIATION (LGW) LIMITED 2008-11-11 → 2010-02-08

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

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. In assessing going concern assumptions, the Board has evaluated the forecast expectations and considered identified downside risks and mitigating actions through to 31 December 2026. Management is confident that they have taken the necessary decisions and actions to enable the business to continue operating successfully in the environment post-covid. The Group has external loan facilities and there is a covenant attached to these which the Group must meet a minimum cashflow cover ratio of 1:1 from 30 June 2024 and minimum leverage ratio of 1.8 from the quarter ending 31 December 2024. Current cash reserves will be sufficient to sustain the business until the loan reaches its maturity on 30 June 2026, without breaching the covenant under either scenario. The Group is in early-stage negotiations with the lender to refinance the loan upon its maturity. However, the loan has been treated as being settled at maturity for the purpose of the going concern assessment. The directors have received a formal confirmation from SwissportALD Holdings Limited to receive financial support as may be required to enable the Company to continue to trade and meet its liabilities as they fall due, for a period of not less than 12 months from the date of approval of the Company's financial statements for the year ended 31 December 2024. As such the Directors have concluded that it is appropriate to continue to adopt the going concern basis in preparing these financial statements.”

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

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

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

• Turnover

  +22.7%

  £16,621,122 → £20,393,258

• Cash

  -60.3%

  £666,034 → £264,496

• Net assets

  +83.3%

  £2,918,672 → £5,349,491

• Employees

  +5.6%

  196 → 207

• Operating profit

  +364.1%

  £570,300 → £2,646,653

• Profit before tax

  +364.1%

  £570,300 → £2,646,653

• Wages

  +34.4%

  £3,609,596 → £4,851,588

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