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Registration number: 07511575

El Lomito Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

El Lomito Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

El Lomito Limited

Company Information

Directors | N R Palmer D N Palmer P Ray

Registered office | Fawley House 2 Regatta Place Marlow Road Bourne End Bucks SL8 5TD

Accountants | Sterling Grove Accountants Limited Chartered Certified AccountantsFawley House 2 Regatta Place Marlow Road Bourne End Bucks SL8 5TD

El Lomito Limited

(Registration number: 07511575)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 72,884 | 73,163
Current assets |  |  |
Stocks | 5 | 62,828 | 53,428
Debtors | 6 | 49,968 | 51,417
Cash at bank and in hand |  | 617,082 | 600,864
|  | 729,878 | 705,709
Creditors: Amounts falling due within one year | 7 | (414,816) | (416,272)
Net current assets |  | 315,062 | 289,437
Total assets less current liabilities |  | 387,946 | 362,600
Creditors: Amounts falling due after more than one year | 7 | (6,667) | (26,667)
Provisions for liabilities |  | (12,000) | (10,000)
Net assets |  | 369,279 | 325,933
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 369,179 | 325,833
Shareholders' funds |  | 369,279 | 325,933

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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 October 2025 and signed on its behalf by:

El Lomito Limited

(Registration number: 07511575)
Balance Sheet as at 31 January 2025

......................................... D N Palmer Director

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place Marlow Road
Bourne End
Bucks
SL8 5TD
United Kingdom

The principal place of business is:
41 Green Lane
Northwood
Middlesex
HA6 3AE
United Kingdom

These financial statements were authorised for issue by the Board on 6 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% Straight line basis
Fixture and fittings | 20% Straight line basis
Leasehold improvements | 20% Straight line basis
Office equipment | 20% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 56 (2024 - 60).

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4 | Tangible assets

| Leasehold Improvements £ | Furniture, fittings and equipment £ | Other property, plant and equipment £ | Total £
Cost or valuation
At 1 February 2024 | 414,686 | 84,480 | 163,715 | 662,881
Additions | - | 27,104 | - | 27,104
At 31 January 2025 | 414,686 | 111,584 | 163,715 | 689,985
Depreciation
At 1 February 2024 | 378,289 | 62,566 | 148,863 | 589,718
Charge for the year | 9,099 | 12,723 | 5,561 | 27,383
At 31 January 2025 | 387,388 | 75,289 | 154,424 | 617,101
Carrying amount
At 31 January 2025 | 27,298 | 36,295 | 9,291 | 72,884
At 31 January 2024 | 36,397 | 21,914 | 14,852 | 73,163

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 62,828 | 53,428

6 | Debtors

Current | 2025 £ | 2024 £
Prepayments | 23,388 | 29,098
Other debtors | 26,580 | 22,319
| 49,968 | 51,417

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 20,000 | 20,000
Trade creditors |  | 112,671 | 121,120
Taxation and social security |  | 167,244 | 171,103
Accruals and deferred income |  | 5,190 | 5,190
Other creditors |  | 109,711 | 98,859
|  | 414,816 | 416,272

Creditors include bank loans and overdrafts which are secured of £20,000 (2024 - £20,000).

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 6,667 | 26,667

Creditors include bank loans and overdrafts which are secured of £6,667 (2024 - £26,667).

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £613,070 (2024 - £752,192).

El Lomito Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9 | Related party transactions

Transactions with directors

2025 | At 1 February 2024 £ | Advances to director £ | Repayments by director £ | At 31 January 2025 £
D N Palmer
D Palmer | (14,555) | 23,614 | (10,000) | (941)
N R Palmer
N Palmer | 13,320 | 48,720 | (58,000) | 4,040
P Ray
P Ray | 2,660 | 48,360 | (58,000) | (6,980)

2024 | At 1 February 2023 £ | Advances to director £ | Repayments by director £ | At 31 January 2024 £
D N Palmer
D Palmer | (6,448) | 55,893 | (64,000) | (14,555)
N R Palmer
N Palmer | 12,600 | 48,720 | (48,000) | 13,320
P Ray
P Ray | 2,300 | 48,360 | (48,000) | 2,660