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Company No: 12422746 (England and Wales)

# LILLIPILLI LTD

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

LILLIPILLI LTD

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

LILLIPILLI LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
LILLIPILLI LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 2,519,104 |  | 2,519,104
|  | 2,519,104 |  | 2,519,104
Current assets |  |  |  |
Debtors | 4 | 1,568 |  | 1,309
Cash at bank and in hand |  | 87,540 |  | 139,991
|  | 89,108 |  | 141,300
Creditors: amounts falling due within one year | 5 | ( 2,474,962) |  | ( 2,573,147)
Net current liabilities |  | (2,385,854) |  | (2,431,847)
Total assets less current liabilities |  | 133,250 |  | 87,257
Net assets |  | 133,250 |  | 87,257
Capital and reserves |  |  |  |
Called-up share capital | 6 | 300 |  | 300
Profit and loss account |  | 132,950 |  | 86,957
Total shareholders' funds |  | 133,250 |  | 87,257

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Lillipilli Ltd (registered number: 12422746) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S C Fregona Director |  | B Lynch Director

18 September 2025

LILLIPILLI LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
LILLIPILLI LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Lillipilli Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The financial statements have been prepared on a going concern basis which assumes that the Company will continue in operational existence for the foreseeable future and will be able to meet its debts as they fall due.
The directors confirm that the Company has sufficient access to working capital to support the business for the foreseeable future, and that the director loans of £2,460,550 will not be recalled until such time that the Company can afford to do so. As a result of this, they consider it appropriate to adopt the going concern basis of accounting.

##### Turnover

Turnover comprises rental income generated from the Company's investment property. Revenue is recognised in the period to which it relates.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 February 2024 | 2,519,104
As at 31 January 2025 | 2,519,104

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Prepayments | 1,568 |  | 1,309

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Amounts owed to directors | 2,460,550 |  | 2,560,750
Accruals | 2,853 |  | 2,669
Corporation tax | 11,559 |  | 9,702
Other creditors | 0 |  | 26
| 2,474,962 |  | 2,573,147

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
200 Ordinary A shares of £ 1.00 each | 200 |  | 200
100 Ordinary B shares of £ 1.00 each | 100 |  | 100
| 300 |  | 300

#### 7. Related party transactions

Included within creditors due within one year are balances of £2,460,550 (2024: £2,560,750) owed to directors of the company. These balances are unsecured and interest free, and are repayable on demand.