Company No: OC350148 (England and Wales)

Contents

• Limited Liability Partnership Information
• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

Designated members	M A Lilley
	S M Lilley

Registered office	Units 1b-3b Herne Business Park
	The Links
	Canterbury Road
	Herne Bay
	United Kingdom

Registered number

OC350148 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	434,489		426,635
		434,489		426,635
Current assets
Debtors
- due after more than one year	4	81,892		62,410
Cash at bank and in hand		215,387		198,519
		297,279		260,929
Creditors: amounts falling due within one year	5	( 27,384)		( 5,916)
Net current assets		269,895		255,013
Total assets less current liabilities		704,384		681,648
Net assets attributable to members		704,384		681,648
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		704,384		681,648
		704,384		681,648
Members' other interests
		0		0
		704,384		681,648
Total members' interests
Loans and other debts due to members		704,384		681,648
		704,384		681,648

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, 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 LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of LILLEY TILE AND STONE LLP (registered number: OC350148) were approved and authorised for issue by the Board of Directors on 08 September 2025. They were signed on its behalf by:

M A Lilley Designated member

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Other reserves	Members' capital (classified as debt)	Total
	£	£	£
Amounts due to members		660,645
Balance at 01 April 2023	0	660,645	660,645
Profit for the financial year available for discretionary division among members	33,003	0	33,003
Members' interest after profit for the financial year	33,003	660,645	693,648
Repayment of capital	0	(12,000)	(12,000)
Division of profits	(33,003)	33,003	0
Amounts due to members		681,648
Balance at 31 March 2024	0	681,648	681,648
Profit for the financial year available for discretionary division among members	34,735	0	34,735
Members' interest after profit for the financial year	34,735	681,648	716,383
Repayment of capital	0	(12,000)	(12,000)
Division of profits	(34,735)	34,735	0
Amounts due to members		704,384
Balance at 31 March 2025	0	704,384	704,384

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

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

LILLEY TILE AND STONE LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Units 1b-3b Herne Business Park, The Links, Canterbury Road, Herne Bay, 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 Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	4 years straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 payments 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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Tangible assets

	Land and buildings		Vehicles		Total
	£		£		£
Cost
At 01 April 2024	481,324		10,446		491,770
Additions	15,000		0		15,000
At 31 March 2025	496,324		10,446		506,770
Accumulated depreciation
At 01 April 2024	54,689		10,446		65,135
Charge for the financial year	7,146		0		7,146
At 31 March 2025	61,835		10,446		72,281
Net book value
At 31 March 2025	434,489		0		434,489
At 31 March 2024	426,635		0		426,635

Included in land and buildings is land at valuation of £139,000 which has not been depreciated.

4. Debtors

	2025		2024
	£		£
Debtors: amounts falling due after more than one year
Amounts owed by associates	81,892		62,410

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	23,731		2,575
Other taxation and social security	1,558		1,366
Other creditors	2,095		1,975
	27,384		5,916

6. Ultimate controlling party

The LLP is under control of its designtated members.