REGISTERED NUMBER: 03941071 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LOTUS IMPORTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr B Williams

REGISTERED OFFICE:

Units A-C

Rye Wharf

Harbour Road

Rye

East Sussex

TN31 7TE

REGISTERED NUMBER:

03941071 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

11,685

14,925

Tangible assets

5

376,528

208,199

388,213

223,124

CURRENT ASSETS

Stocks

1,528,134

1,795,249

Debtors

6

622,732

572,088

Cash at bank and in hand

1,715,565

2,096,475

3,866,431

4,463,812

CREDITORS

Amounts falling due within one year

7

(279,468

)

(868,162

)

NET CURRENT ASSETS

3,586,963

3,595,650

TOTAL ASSETS LESS CURRENT LIABILITIES

3,975,176

3,818,774

CREDITORS

Amounts falling due after more than one year

8

-

(19,060

)

PROVISIONS FOR LIABILITIES

(83,577

)

(38,523

)

ACCRUALS AND DEFERRED INCOME

(31,889

)

-

NET ASSETS

3,859,710

3,761,191

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

3,859,610

3,761,091

SHAREHOLDERS' FUNDS

3,859,710

3,761,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2025 and were signed by:

Mr B D Williams - Director

1.	STATUTORY INFORMATION

Lotus Imports Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold improvements

-

10% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

10,000

16,198

26,198

AMORTISATION

At 1 April 2024

10,000

1,273

11,273

Charge for year

-

3,240

3,240

At 31 March 2025

10,000

4,513

14,513

NET BOOK VALUE

At 31 March 2025

-

11,685

11,685

At 31 March 2024

-

14,925

14,925

5.	TANGIBLE FIXED ASSETS

Long

leasehold

Plant and

Motor

Computer

improvements

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

96,575

276,522

258,455

20,860

652,412

Additions

165,240

98,871

-

3,853

267,964

Disposals

-

-

(171,735

)

-

(171,735

)

At 31 March 2025

261,815

375,393

86,720

24,713

748,641

DEPRECIATION

At 1 April 2024

31,663

201,905

196,288

14,357

444,213

Charge for year

24,290

24,292

15,541

3,641

67,764

Eliminated on disposal

-

-

(139,864

)

-

(139,864

)

At 31 March 2025

55,953

226,197

71,965

17,998

372,113

NET BOOK VALUE

At 31 March 2025

205,862

149,196

14,755

6,715

376,528

At 31 March 2024

64,912

74,617

62,167

6,503

208,199

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

509,866

478,469

Other debtors

112,866

93,619

622,732

572,088

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

10,036

Trade creditors

77,313

212,322

Taxation and social security

160,996

284,243

Other creditors

41,159

361,561

279,468

868,162

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

19,060

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100