Lomo Topco Limited
Other business support service activities n.e.c. · London
ActiveUnited KingdomIncorporated 2018Private Limited Company
Financial position
Accounts to 2025-12-28 · GBP · Group accounts
Net assets
−£33,251,000
Cash
£4,478,000
Turnover
£72,075,000
Profit / loss
−£9,099,000
Current assets
£14,074,000
Creditors < 1 year
£22,732,000
Equity
−£33,251,000
Average employees
Not available
Balance-sheet trend
GBP · consolidatedFinancial statements
Selected figures from the best-ranked available filing for each period. Missing values remain unknown.
Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts
| Reported figures | 2025-12-28Group · AI-read | 2024-12-29Group · AI-read |
|---|---|---|
| Balance sheet | ||
| Net assets | −£33,251,000 | −£24,152,000 |
| Equity | −£33,251,000 | −£24,152,000 |
| Retained earnings | −£46,851,000 | −£37,752,000 |
| Assets | ||
| Fixed assets | £31,140,000 | £34,932,000 |
| Intangible assets | £4,761,000 | £6,448,000 |
| Property, plant & equipment | £23,911,000 | £25,516,000 |
| Current assets | £14,074,000 | £14,577,000 |
| Cash at bank | £4,478,000 | £3,101,000 |
| Debtors | £7,700,000 | £9,289,000 |
| Stock | £1,896,000 | £2,187,000 |
| Liabilities | ||
| Creditors within one year | £22,732,000 | £21,196,000 |
| Creditors after one year | £55,733,000 | £52,465,000 |
| Bank loans & overdrafts | £20,000,000 | £20,000,000 |
| Capital commitments | £0 | £363,000,000 |
| Net current assets | −£8,658,000 | −£6,619,000 |
| Assets less current liabilities | £22,482,000 | £28,313,000 |
| Profit & loss | ||
| Turnover | £72,075,000 | £72,541,000 |
| Cost of sales | £42,121,000 | £41,928,000 |
| Gross profit | £29,954,000 | £30,613,000 |
| Administrative expenses | £33,941,000 | £41,402,000 |
| Other operating income | £567,000 | £2,100,000 |
| Operating profit | −£3,416,000 | −£8,689,000 |
| Interest payable | £5,538,000 | £5,815,000 |
| Profit before tax | −£8,954,000 | −£14,504,000 |
| Tax | −£145,000 | £1,165,000 |
| Profit / loss | −£9,099,000 | −£13,339,000 |
| Operating costs | ||
| Depreciation | £4,072,000 | £4,784,000 |
| Amortisation | £2,187,000 | £2,628,000 |
| Cash flow | ||
| Cash from operations | £6,253,000 | £4,690,000 |
| Capital expenditure | £2,469,000 | £2,995,000 |
| People & pay | ||
| Staff costs | £25,174,000 | £26,081,000 |
| Wages & salaries | £22,185,000 | £23,605,000 |
| Social security costs | £2,529,000 | £1,976,000 |
| Pension costs | £460,000 | £500,000 |
| Directors' remuneration | £993,000 | £993,000 |
| Highest paid director | £325,000 | £372,000 |
| Source evidence | View filing | View filing |
From the accounts
What the accounts for 2025-12-28 say about themselves, read by AI from the scanned filing.
- Principal activity
- The principal activity of Lomo Topco Limited and its wholly owned subsidiaries (‘the Group’/‘Rare Restaurant Group’) is the running of restaurants.
- What it does
- restaurants · GAUCHO brand · restaurant operations (AI keywords)
- The year
- 2025 was a year of transition for the Group. Following the appointment of Baton Berisha, and under a largely new leadership team, we have focused on developing and driving the Gaucho brand. As a result we closed the Group’s remaining non-Gaucho branded restaurants and improved the customer offer and experience. These changes delivered consistent and strong cover & revenue growth from May 2025 which has continued post year end.
- Outlook
- The directors are focused on the improvement and expansion of its Gaucho branded restaurants. The Group will continue to evolve and grow the existing estate as well as expand through new openings. The Directors’ consider the Group’s decision to close its remaining non-Gaucho branded restaurants and re-focus its operational team will have a material impact on the Group’s performance.
- Audit opinion
- Clean (unmodified)
- Ultimate controlling party
- Investec Investments (UK) Ltd and SC Lowy Primary Investments Ltd (Cayman Islands)
- Accounts
- Full accounts · FRS 102
- Approved
- 2026-07-06, signed by S Cramer
Borrowings (2)
- Senior facility · 20,000 (000s) · 5% + SONIA · repayable on 15 January 2028
- Unsecured loan notes · 35,435 (000s) · fixed annual rate of 10% · repayment date for all loan notes is 15 January 2029 · secured on Unsecured
Directors' report (8)
- S Torr · resigned 2026-06-15
- V Hart
- G Betz
- R Butler · resigned 2025-06-02
- M Lowy
- S Cramer
- D Campbell
- B Berisha · appointed 2025-04-04
Share classes (5)
- 100 'A' ordinary shares of 1p each of 1p
- 9,705 'B' ordinary shares of 1p each of 1p
- 13,600,000 'A' Preference shares of £1 each of £1
- 2 'B' preference shares of 1p each of 1p
- 9,490 'C' preference shares of 1p each of 1p
Principal risks (2)
- Economic and market risk
- Cash control
Events after the year end (1)
- At year end, the Directors commenced a review to reduce losses at its Charlotte Street site. Post year end, they made the decision to close the site. They are in negotiations to exit the lease and have therefore made a provision for £1,596,000 at year end which represents their best estimate for the likely costs of surrender/sub-letting, legal costs and expected losses to be incurred through to closing the restaurant.
Contingent liabilities (1)
- Certain Group companies have provided to GLAS Trust Corporation Limited on behalf of Investec Bank Plc and SC Lowy P.I. (Lux) S.a.r.l, a debenture in respect of bank borrowings advanced to Rare Restaurants Ltd and Gioma (UK) Limited and have guaranteed the liabilities of these borrowers under the Senior Facilities Agreement dated 27 September 2024. The total amount outstanding under these facilities is £2,163,000 of which £20,000,000 is principal and £163,000 is interest.
Secured borrowing
Registered charges, lenders and security interests.
Charges and related records
1 outstanding chargesFixed · created 2024-09-27
—
OutstandingShow 1 satisfied / released
Fixed · created 2018-12-11 · satisfied 2024-10-04
—
Satisfied