Company registration number SC775981 (Scotland)
LILLIETEK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
LILLIETEK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LILLIETEK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
31 January 2024
Notes
£
£
£
£
Current assets
Debtors
3
4,269
62,042
Cash at bank and in hand
292
53,117
4,561
115,159
Creditors: amounts falling due within one year
4
(75,481)
(115,149)
Net current (liabilities)/assets
(70,920)
10
Capital and reserves
Called up share capital
5
10
10
Profit and loss reserves
(70,930)
-
0
Total equity
(70,920)
10

For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 September 2025 and are signed on its behalf by:
Mr Alasdair Lindsay
Director
Company registration number SC775981 (Scotland)
LILLIETEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Lillietek Limited is a private company limited by shares incorporated in Scotland. The registered office is Exchange Tower, 3rd Floor, 19 Canning Street, Edinburgh, EH3 8EG.

1.1
Reporting period

The financial statements are prepared for a period greater than twelve months in order to bring in-line with other group entities. Consequently, the comparative amounts presented in the financial statement (including the related notes) are not entirely comparable.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements for the period ended 31 March 2025 are the first financial statements of Lillietek Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 01 February 2024. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.3
Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the company’s financial position and confirm that the company will be able to meet its liabilities as they fall due for at least 12 months from the date of approval of these financial statements. The directors note their intention to potentially close the company within that period; however, at the date of signing the financial statements no adjustments have been required in respect of this intention.true

1.4
Turnover

Revenue comprises sales of services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

1.5
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 current liabilities.

LILLIETEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LILLIETEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Total
2
3
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
9,659
Other debtors
4,269
52,383
4,269
62,042
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
1,505
Taxation and social security
-
0
5,111
Other creditors
75,481
108,533
75,481
115,149
5
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
6
Financial commitments, guarantees and contingent liabilities

On 22 January 2025, the company granted a debenture in favour of Santander UK plc, creating fixed and floating charges over its assets. This charge contains a negative pledge.

LILLIETEK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -
7
Related party transactions

On 7 January 2025, the share capital of LillieTek Limited was acquired in full by RADical Systems (UK) Limited.

During this accounting period LillieTek Limited provided £336,541 of services to RADical Systems (UK) Limited.

RADical Systems (UK) Limited separately provided an intercompany loan to LillieTek Limited.

At the balance sheet date LillieTek Limited owed Radical Systems (UK) Limited £72,205.

IQX Limited, a related party through common control prior to the acquisition by RADical Systems (UK) Limited provided services to LillieTek Limited in this accounting period. The services provided totalled £329,564.

At the balance sheet date there was no balance owed between LillieTek Limited and IQX Limited.

8
Parent company

The parent company of Lillietek Limited is RADical Systems (UK) Ltd and its registered office is Altec House, 25 Parklands, Railton Road, Guildford, Surrey, GU2 9JX.

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