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REGISTERED NUMBER: 06855192 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

LILLYANDSID LTD

LILLYANDSID LTD (Registered number: 06855192)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LILLYANDSID LTD

Company Information
for the Year Ended 31 March 2024







DIRECTORS: I Hassan
Mrs E E Hassan
P Seth
R Ahuja





REGISTERED OFFICE: Cedar Lodge
Main Road
Kilsby
Rugby
Warwickshire
CV23 8XP





REGISTERED NUMBER: 06855192 (England and Wales)





AUDITORS: UHY Hacker Young LLP
Quadrant House
4 Thomas More Square
London
E1W 1YW

LILLYANDSID LTD (Registered number: 06855192)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,543 2,618
4,543 2,618

CURRENT ASSETS
Stocks 1,243,251 1,224,464
Debtors 6 110,006 282,115
Cash at bank 380,861 166,629
1,734,118 1,673,208
CREDITORS
Amounts falling due within one year 7 1,723,340 1,582,047
NET CURRENT ASSETS 10,778 91,161
TOTAL ASSETS LESS CURRENT LIABILITIES 15,321 93,779

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 15,221 93,679
SHAREHOLDERS' FUNDS 15,321 93,779

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2024 and were signed on its behalf by:





I Hassan - Director


LILLYANDSID LTD (Registered number: 06855192)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

LILLYANDSID LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future and on the basis that the parent company which is one of the company's biggest creditor, has provided an undertaking that it will not seek repayment of amounts owed to them until such time as the company is able to. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods
Revenue represents amounts receivable from the distribution of garments net of discounts and value added tax. Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on delivery of the goods.

Royalty income
Royalty income is earned from the royalty agreements and is recognised when the ordered goods have been delivered to the customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LILLYANDSID LTD (Registered number: 06855192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,273
AMORTISATION
At 1 April 2023
and 31 March 2024 1,273
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 3,923 243 4,166
Additions 2,848 - 2,848
At 31 March 2024 6,771 243 7,014
DEPRECIATION
At 1 April 2023 1,496 52 1,548
Charge for year 888 35 923
At 31 March 2024 2,384 87 2,471
NET BOOK VALUE
At 31 March 2024 4,387 156 4,543
At 31 March 2023 2,427 191 2,618

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 110,006 259,572
Other debtors - 22,543
110,006 282,115

LILLYANDSID LTD (Registered number: 06855192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 84,096 101,413
Amounts owed to group undertakings 1,478,154 1,355,369
Taxation and social security 12,179 6,786
Other creditors 148,911 118,479
1,723,340 1,582,047

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
60 Ordinary A 1 60 60
40 Ordinary B 1 40 40
100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Chim (Senior Statutory Auditor)
for and on behalf of UHY Hacker Young LLP

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
I Hassan and Mrs E E Hassan
Balance outstanding at start of year 5,020 6,254
Amounts repaid (6,939 ) (1,234 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,919 ) 5,020

LILLYANDSID LTD (Registered number: 06855192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Nor Lanka Manufacturing Limited, a company which owns 55 of the company's Ordinary A Shares.

2024 2023
£    £   
Balance at start of period (1,182,239 ) (857,754 )
Stock purchases from (783,393 ) (2.240,652 )
Recharge of design and marketing to - 260,869
Other purchases from (387 ) -
Recharged administration expenses from (4,459 ) (98 )
Repayments 874,032 1,655,396
Balance at end of period - included in creditors (1,096,446 ) (1,182,239 )

Balance is interest free and is repayable on demand. All transaction were carried out under normal commercial trading terms.

Design Arc Asia Limited, is a group company under the control of PDS Ltd, the ultimate parent company of Nor Lanka Manufacturing Limited.

2024 2023
£    £   
Balance at start of period (173,130 ) -
Stock purchases from (2,187,372 ) (4,558,862 )
Recharged administration expenses to 4,032 -
Repayments 1,979,292 4,385,732
Balance at end of period - included in debtors (377,178 ) (173,130 )

Balance is interest free and is repayable on demand. All transaction were carried out under normal commercial trading terms.

During the year Lillyandsid Ltd purchased stock and services from Multinational Textile Group Limited, totalling £4,530 (2023 - £nil). Amount owed at the year end was £4,530 (2023 - £nil) was owed by the company. All transaction were carried out under normal commercial trading terms.

Multinational Textile Group Limited, is a group company under the control of PDS Ltd, the ultimate parent company of Nor Lanka Manufacturing Limited.

12. ULTIMATE CONTROLLING PARTY

Nor Lanka Manufacturing Limited, a company incorporated in Hong Kong, owns 55 of the company's Ordinary A Shares. The financial statements of the company is incorporated within the consolidated financial statements of Nor Lanka Manufacturing Limited.

The consolidated financial statements of Nor Lanka Manufacturing Limited can be obtained from the registered address 7th Floor, Park Fook Industrial Building, 615-617, Tai Nan West Street, Cheung Sha Wan, Kowloon, Hong Kong.

The ultimate parent company is PDS Limited, a company incorporated in India. PDS Limited is listed on the BSE and National Stock Exchange in India.