REGISTERED NUMBER: 01860162 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Tillship Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A M Sandle-Brownlie

REGISTERED OFFICE:

12 St Mary'S Avenue

Wanstead

London

E11 2NP

REGISTERED NUMBER:

01860162 (England and Wales)

ACCOUNTANTS:

Ashford Associates UK Limited

Chartered Certified Accountants

74A High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

11,406

15,209

Investments

5

130,678

120,345

Investment property

6

2,400,000

2,400,000

2,542,084

2,535,554

CURRENT ASSETS

Cash at bank

186,281

207,569

CREDITORS

Amounts falling due within one year

7

9,066

13,756

NET CURRENT ASSETS

177,215

193,813

TOTAL ASSETS LESS CURRENT LIABILITIES

2,719,299

2,729,367

PROVISIONS FOR LIABILITIES

205,527

205,527

NET ASSETS

2,513,772

2,523,840

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

1,094,413

1,094,413

Retained earnings

1,419,259

1,429,327

2,513,772

2,523,840

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 her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

Mrs A M Sandle-Brownlie - Director

1.	STATUTORY INFORMATION

Tillship 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.

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

171,125

49,167

220,292

DEPRECIATION

At 1 April 2024

156,951

48,132

205,083

Charge for year

3,544

259

3,803

At 31 March 2025

160,495

48,391

208,886

NET BOOK VALUE

At 31 March 2025

10,630

776

11,406

At 31 March 2024

14,174

1,035

15,209

5.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Other investments not loans

130,678

120,345

Additional information is as follows:

Listed

investments

Investments

Totals

£

£

£

COST

At 1 April 2024

72,162

18,358

90,520

Share of profit/(loss)

10,333

-

10,333

At 31 March 2025

82,495

18,358

100,853

NET BOOK VALUE

At 31 March 2025

82,495

18,358

100,853

At 31 March 2024

72,162

18,358

90,520

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

No description

29,825

29,825

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,400,000

NET BOOK VALUE

At 31 March 2025

2,400,000

At 31 March 2024

2,400,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

1,400,822

Valuation in 2017

769,000

Valuation in 2020

75,276

Valuation in 2024

154,902

2,400,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

(1

)

1,592

Taxation and social security

6,239

9,006

Other creditors

2,828

3,158

9,066

13,756

8.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

1,094,413

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mrs A M Sandle-Brownlie

Balance outstanding at start of year

(158

)

(394

)

Amounts advanced

-

236

Amounts repaid

(270

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(428

)

(158

)

Above loan was interest free and repayable on demand

ULTIMATE CONTROLLING PARTY

As on the balance sheet date, Mrs Aileen M Sandle Brownlie holds 100% shareholding in the company. Therefore the ultimate controlling person is Mrs Aileen M Sandle Brownlie.