Company registration number 01607961 (England and Wales)
A.T. LITTLE & SONS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
A.T. LITTLE & SONS LIMITED
COMPANY INFORMATION
Directors
Mrs Y J Stafford
Mr A T Little
Mr J J Little
Ms A Stafford
Company number
01607961
Registered office
Melton Enterprise Park
5 Redcliff Road
Melton
HU14 3RS
Auditor
MHA
Richard House
9 Winckley Square
Preston
PR1 3HP
A.T. LITTLE & SONS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 23
A.T. LITTLE & SONS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 1 -

The directors present the strategic report for the year ended 28 February 2025.

Review of the business

The company specialises in the supply of books, e-books, DVDs and related services to schools, colleges and academic institutions throughout the United Kingdom and overseas. Educational institutions have been under budget pressure for a number of years which is a significant risk to operations, even though reading materials and complementary services are essential to them. Furthermore some of the company's sales are not subject to any long term agreements, presenting a further inherent risk within its chosen key markets.

The Board is pleased to report a year of growth in customer accounts, albeit this has not yet translated itself into increased turnover, £30,043,329 (2024: £31,841,840) as Educational and Academic budgets were squeezed.

The directors monitor performance using levels of turnover, gross margin and by comparing actual results with budgets. Whilst gross margins of 13.3% (2024: 13.6%) incorporate a further stock impairment charge booked for prudence. Given the significant market cost pressures experienced during the period and customer's budget constraints this represents a pleasing performance with further operational efficiencies planned in the upcoming year.

Whilst the company’s staff base has decreased, with average staff numbers, a non-financial KPI, reducing to 82 (2024: 91), this was due to operational efficiencies meaning that leavers were not replaced. Similar to last year, the directors intend to concentrate on further building the brand, through in person customer interaction at relevant conferences and in one to one settings. The overall approach of the immediate future and recent years is to future proof the company and aid its position within the principal markets in which it operates.

A further key performance indicator is the significant positive cash at bank balance of £2,474,562 (2024: £2,617,004). The company has traditionally maintained higher cash balances to provide confidence to its customer base and to provide suitable liquid resources to capitalise on opportunities as they presented themselves. The improved cash balance, after reducing its long term obligations by £500,000 (2024: £500,000) is a consequence of profitable trading. The company therefore remains highly liquid and so can be agile in its operations, embracing suitable opportunities when presented.

The directors and company finance department monitor working capital controls tightly given the sometimes fragmented profile of the company's turnover over the course of a twelve month period. A key component of working capital management is the monitoring of credit risk. Partly due to the typical nature of the company's customer base, allied with its financial controls and management, it has not suffered any bad debts in the year. Financial risk management is further referenced within the Directors' Report.

The company increased its balance sheet to £4,639,896 (2024: £4,282,327), providing a strong base from which to operate in the year ahead. As a consequence of this backdrop, the directors consider that the year to February 2026 should deliver growth in turnover and the company remains very well placed to continue the sustainable growth set out as part of their plans. The directors remain fully committed towards targeting further increases in relevant market share over the year ahead and beyond.

A.T. LITTLE & SONS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -

Finally, the directors would like to place on record their sincere thanks to the dedicated and talented staff employed throughout the company, without whose efforts the company would not continue to thrive.

On behalf of the board

Mrs Y J Stafford
Director
8 July 2025
A.T. LITTLE & SONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -

The directors present their annual report and financial statements for the year ended 28 February 2025.

Principal activities

The principal activity of the company is the supply of books, e-books, DVDs and related services to libraries and educational establishments.

The company specialises in the supply of books and related services to schools, colleges and academic institutions throughout the United Kingdom and overseas.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £125,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mrs Y J Stafford
Mr A T Little
Mr J J Little
Ms A Stafford
Financial instruments
Financial risk managment objectives and policies

The company's operations expose it to a variety of financial risks that include credit risk, liquidity risk and interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effect of these risks on the performance of the company. The company does not use derivative financial instruments and as such no hedge accounting is applied.

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the company's finance department.

Credit Risk

The company has implemented policies that require appropriate credit checks on potential customers before sales are made.

Liquidity and interest rate risk

The company currently has sufficient cash balances to make debt finance unnecessary. Bank interest rates are monitored to ensure the company is earning maximum interest whilst maintaining liquidity.

Auditor

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.

MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

A.T. LITTLE & SONS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
Information referred to in the strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mrs Y J Stafford
Director
8 July 2025
A.T. LITTLE & SONS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

A.T. LITTLE & SONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A.T. LITTLE & SONS LIMITED
- 6 -
Opinion

We have audited the financial statements of A.T. Little & Sons Limited (the 'company') for the year ended 28 February 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 28 February 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

A.T. LITTLE & SONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A.T. LITTLE & SONS LIMITED (CONTINUED)
- 7 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:

- Enquiries with management about any known or suspected instances of non-compliance with laws and regulations;

- Enquires with management about any known or suspected instances of fraud;

- Auditing the risk of fraud in revenue, including through the testing of income cut off at the year end and through sales transaction testing to provide comfort that revenue is complete within the financial statements and recognised in the correct accounting period;

- Examination of journal entries and other adjustments to test for appropriateness and identify any instances of management override of controls;

- Review of legal and professional expenditure to identify any evidence of ongoing litigation or enquiries.

A.T. LITTLE & SONS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF A.T. LITTLE & SONS LIMITED (CONTINUED)
- 8 -

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Joe Sullivan FCA
Senior Statutory Auditor
For and on behalf of MHA, Statutory Auditor
Preston, United Kingdom
1 August 2025
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
A.T. LITTLE & SONS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
30,043,329
31,841,840
Cost of sales
(26,050,211)
(27,505,970)
Gross profit
3,993,118
4,335,870
Distribution costs
(680,084)
(615,914)
Administrative expenses
(2,931,814)
(3,025,260)
Other operating income
107,983
132,123
Operating profit
4
489,203
826,819
Interest receivable and similar income
7
124,706
81,687
Interest payable and similar expenses
8
(30,000)
(38,333)
Profit before taxation
583,909
870,173
Tax on profit
9
(101,340)
(224,944)
Profit for the financial year
482,569
645,229

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

A.T. LITTLE & SONS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 10 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
5,104,514
5,234,441
Current assets
Stocks
12
343,597
499,621
Debtors
13
2,421,614
3,027,190
Cash at bank and in hand
2,474,562
2,617,004
5,239,773
6,143,815
Creditors: amounts falling due within one year
14
(4,317,091)
(5,150,212)
Net current assets
922,682
993,603
Total assets less current liabilities
6,027,196
6,228,044
Creditors: amounts falling due after more than one year
15
(1,000,000)
(1,500,000)
Provisions for liabilities
Deferred tax liability
16
387,300
445,717
(387,300)
(445,717)
Net assets
4,639,896
4,282,327
Capital and reserves
Called up share capital
18
10,000
10,000
Profit and loss reserves
4,629,896
4,272,327
Total equity
4,639,896
4,282,327

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 8 July 2025 and are signed on its behalf by:
Mrs Y J Stafford
Mr J J Little
Director
Director
Company registration number 01607961 (England and Wales)
A.T. LITTLE & SONS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2023
10,000
3,877,098
3,887,098
Year ended 29 February 2024:
Profit and total comprehensive income
-
645,229
645,229
Dividends
10
-
(250,000)
(250,000)
Balance at 29 February 2024
10,000
4,272,327
4,282,327
Year ended 28 February 2025:
Profit and total comprehensive income
-
482,569
482,569
Dividends
10
-
(125,000)
(125,000)
Balance at 28 February 2025
10,000
4,629,896
4,639,896
A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 12 -
1
Accounting policies
Company information

A.T. Little & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Melton Enterprise Park, 5 Redcliff Road, Melton, HU14 3RS.

1.1
Accounting convention

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.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;

- Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash f low and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of The Little Group Limited. These consolidated financial statements are available from its registered office, 1 Whittle Drive, Willingdon Drove, Eastbourne, BN23 6QH.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a every expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

After preparing prudent financial budgets for the upcoming year it is projected to ha ve more than sufficient levels of working capital available to see it through the 2025/26 financial year and beyond. It has also received confirmation that the parent company will provide financial support during the upcoming twelve months should it be required.

Based upon the factors noted above the directors believe the company is a going concern at the date of signing.

A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 13 -
1.3
Turnover

Turnover represents the net amounts invoiced by the company in respect of goods and services supplied during the year and is stated net of trade discounts and value added tax. Income is recognised on despatch of physical books, or when e-books are downloaded. Income in respect of services provided is recognised when that service is delivered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
- 2% per annum straight line
Fixtures, fittings and equipment
- 15% per annum reducing balance
Computer equipment
- 20% per annum straight line
Motor vehicles
- 25% per annum reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct purchase expense and, where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment due to obsolescence or slow moving stock. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 14 -
1.8
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.

Other financial assets

All of the company's financial assets are basic financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 15 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies 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 receipts 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.

Other financial liabilities

All of the company's financial liabilities are basic financial instruments.

Derecognition of financial liabilities

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

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balances sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 16 -
1.11
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.

1.12
Retirement benefits

The company operates two contributory pension schemes for the employees. Both are defined contribution schemes, the assets of which are held separately from those of the company. Contributions are charged to the profit and loss account as they become payable.

The company also operates a Group Life scheme (a defined contribution scheme) under a centralised scheme administered by Gardners Books Limited, and contributions are charged to the profit and loss account as they become payable.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Useful economic life of tangible fixed assets

The useful economic life of tangible fixed assets is judged at the point of purchase and reviewed at each balance sheet date. Further details are provided within note 1.4 to the financial statements.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Provision for irrecoverable trade debtors

At each balance sheet date, management undertake a review of the outstanding trade debtor balances and estimate the balance that should either be impaired or provided against.

This calculation is based on the financial position of the customers, the historical speed of payment compared to approved credit terms and the status/progress of any ongoing communications with them.

A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 17 -
3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Attributable to the company's continuing principal activities
30,043,329
31,841,840
2025
2024
£
£
Turnover analysed by geographical market
UK
27,666,923
29,449,538
Overseas
2,376,406
2,392,302
30,043,329
31,841,840
2025
2024
£
£
Other revenue
Interest income
124,706
81,687
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
19,850
14,100
Depreciation of owned tangible fixed assets
167,640
181,675
(Profit)/loss on disposal of tangible fixed assets
(145)
11,217
5
Employees

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

2025
2024
Number
Number
Administration
27
27
Directors
4
4
Sales and management
11
13
Warehouse and production
40
47
Total
82
91
A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
5
Employees
(Continued)
- 18 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,000,941
2,075,136
Social security costs
193,504
177,201
Pension costs
87,414
76,860
2,281,859
2,329,197
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
191,917
185,833
Company pension contributions to defined contribution schemes
24,250
22,500
216,167
208,333

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
122,460
74,145
Other interest income
2,246
7,542
Total income
124,706
81,687
8
Interest payable and similar expenses
2025
2024
£
£
Other interest
30,000
38,333
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
159,787
227,943
Adjustments in respect of prior periods
(30)
(2,181)
Total current tax
159,757
225,762
A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
9
Taxation
2025
2024
£
£
(Continued)
- 19 -
Deferred tax
Origination and reversal of timing differences
(13,498)
(3,613)
Changes in tax rates
-
0
(75)
Adjustment in respect of prior periods
(44,919)
2,870
Total deferred tax
(58,417)
(818)
Total tax charge
101,340
224,944

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
583,909
870,173
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 24.49%)
145,977
213,121
Effect of change in corporation tax rate
-
0
(75)
Depreciation on assets not qualifying for tax allowances
312
11,209
Under/(over) provided in prior years
(30)
(2,181)
Deferred tax adjustments in respect of prior years
(44,919)
2,870
Taxation charge for the year
101,340
224,944

The Chancellor announced his intention to increase the headline rate of corporation tax to 25% from 1 April 2023. This policy was substantively enacted on 25 May 2021.

10
Dividends
2025
2024
£
£
Final paid
125,000
250,000
A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 20 -
11
Tangible fixed assets
Freehold land and buildings
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2024
4,935,158
547,113
219,735
233,582
5,935,588
Additions
-
0
-
0
5,378
33,190
38,568
Disposals
-
0
-
0
-
0
(2,819)
(2,819)
At 28 February 2025
4,935,158
547,113
225,113
263,953
5,971,337
Depreciation and impairment
At 1 March 2024
175,472
187,308
148,903
189,464
701,147
Depreciation charged in the year
65,802
53,971
28,754
19,113
167,640
Eliminated in respect of disposals
-
0
-
0
-
0
(1,964)
(1,964)
At 28 February 2025
241,274
241,279
177,657
206,613
866,823
Carrying amount
At 28 February 2025
4,693,884
305,834
47,456
57,340
5,104,514
At 29 February 2024
4,759,686
359,805
70,832
44,118
5,234,441

The carrying value of land comprises:

2025
2024
£
£
Freehold
731,770
731,770
12
Stocks
2025
2024
£
£
Finished goods and goods for resale
343,597
499,621

Included within stock s is a provision for slow moving and obsolete stock totaling £296,608 (2024: £243,435). The increase in the provision in the year of £53,173 has been charged to the profit and loss account (2024: £86,240 increase in provision charged to the profit and loss account).

A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 21 -
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,264,209
2,887,674
Other debtors
87,448
84,448
Prepayments and accrued income
69,957
55,068
2,421,614
3,027,190
14
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
125,100
464,869
Amounts owed to group undertakings
3,225,899
3,470,557
Corporation tax
64,416
46,905
Other taxation and social security
70,716
74,739
Other creditors
60
-
0
Accruals and deferred income
830,900
1,093,142
4,317,091
5,150,212
15
Creditors: amounts falling due after more than one year
2025
2024
£
£
Amounts owed to group undertakings
1,000,000
1,500,000

Loan balances owed to group undertakings must be repaid in full by 1 March 2031, with no further defined capital repayments within the intervening period. The loan balance is unsecured and interest of 2% per annum is levied upon the principal. Such interest is repayable in monthly instalments which commenced on 1 March 2021.

Amounts included above which fall due after five years are as follows:
Payable by instalments
1,000,000
1,500,000
A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 22 -
16
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
389,278
445,717
Short term timing differences
(1,978)
-
387,300
445,717
2025
Movements in the year:
£
Liability at 1 March 2024
445,717
Credit to profit or loss
(13,498)
Other
(44,919)
Liability at 28 February 2025
387,300

The deferred tax liability set out above in respect of accelerated capital allowances is not expected to reverse over the next 12 months.

17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
87,414
76,860

The company operates defined contribution pension scheme s for all qualifying employees. The assets of the schemes are held separately from those of the company in an independently administered fund.

18
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
A.T. LITTLE & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 23 -
19
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
680
680
Between two and five years
675
1,355
1,355
2,035
20
Ultimate controlling party

The ultimate parent company of A. T. Little & Sons Limited is The Little Group Limited.

The smallest and largest group into which A. T. Little & Sons Limited is consolidated is that of The Little Group Limited, the ultimate parent company. The Little Group Limited is a company registered in the United Kingdom, with a registered office of 1 Whittle Drive, Eastbourne, BN23 6QH. Its group financial statements can be obtained from Companies House, Crown Way, Cardiff.

The directors consider that the Little family possess ultimate control of the company.

2025-02-28 2024-03-01 false false false CCH Software CCH Accounts Production 2025.200 Mrs Y J Stafford Mr A T Little Mr J J Little Ms A Stafford 01607961 2024-03-01 2025-02-28 01607961 bus:Director1 2024-03-01 2025-02-28 01607961 bus:Director2 2024-03-01 2025-02-28 01607961 bus:Director3 2024-03-01 2025-02-28 01607961 bus:Director4 2024-03-01 2025-02-28 01607961 bus:RegisteredOffice 2024-03-01 2025-02-28 01607961 2025-02-28 01607961 2023-03-01 2024-02-29 01607961 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 01607961 core:RetainedEarningsAccumulatedLosses 2024-03-01 2025-02-28 01607961 2024-02-29 01607961 core:LandBuildings core:OwnedOrFreeholdAssets 2025-02-28 01607961 core:FurnitureFittings 2025-02-28 01607961 core:ComputerEquipment 2025-02-28 01607961 core:MotorVehicles 2025-02-28 01607961 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 01607961 core:FurnitureFittings 2024-02-29 01607961 core:ComputerEquipment 2024-02-29 01607961 core:MotorVehicles 2024-02-29 01607961 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 01607961 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 01607961 core:Non-currentFinancialInstruments core:AfterOneYear 2025-02-28 01607961 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 01607961 core:CurrentFinancialInstruments 2025-02-28 01607961 core:CurrentFinancialInstruments 2024-02-29 01607961 core:ShareCapital 2025-02-28 01607961 core:ShareCapital 2024-02-29 01607961 core:RetainedEarningsAccumulatedLosses 2025-02-28 01607961 core:RetainedEarningsAccumulatedLosses 2024-02-29 01607961 core:ShareCapital 2023-02-28 01607961 core:RetainedEarningsAccumulatedLosses 2023-02-28 01607961 core:ShareCapitalOrdinaryShareClass1 2025-02-28 01607961 core:ShareCapitalOrdinaryShareClass1 2024-02-29 01607961 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 01607961 core:FurnitureFittings 2024-03-01 2025-02-28 01607961 core:ComputerEquipment 2024-03-01 2025-02-28 01607961 core:MotorVehicles 2024-03-01 2025-02-28 01607961 1 2024-03-01 2025-02-28 01607961 1 2023-03-01 2024-02-29 01607961 core:UKTax 2024-03-01 2025-02-28 01607961 core:UKTax 2023-03-01 2024-02-29 01607961 2 2024-03-01 2025-02-28 01607961 2 2023-03-01 2024-02-29 01607961 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 01607961 core:FurnitureFittings 2024-02-29 01607961 core:ComputerEquipment 2024-02-29 01607961 core:MotorVehicles 2024-02-29 01607961 2024-02-29 01607961 core:Non-currentFinancialInstruments 2025-02-28 01607961 core:Non-currentFinancialInstruments 2024-02-29 01607961 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 01607961 bus:OrdinaryShareClass1 2025-02-28 01607961 bus:OrdinaryShareClass1 2024-02-29 01607961 core:WithinOneYear 2025-02-28 01607961 core:BetweenTwoFiveYears 2025-02-28 01607961 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 01607961 bus:FRS102 2024-03-01 2025-02-28 01607961 bus:Audited 2024-03-01 2025-02-28 01607961 bus:FullAccounts 2024-03-01 2025-02-28 xbrli:pure xbrli:shares iso4217:GBP