Company No: 11070533 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	P Idelson Smith
	Z Idelson

REGISTERED OFFICE	C/O S&W Partners Llp Onslow House
	Onslow Street
	Guildford
	GU1 4TL
	United Kingdom

COMPANY NUMBER

11070533 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	Onslow House
	Onslow Street
	Guildford
	GU1 4TL

	Note	2025		2024
		£		£
Fixed assets
Investments	3	1,767,879		1,502,761
		1,767,879		1,502,761
Current assets
Debtors	4	500		350,469
Cash at bank and in hand		68,888		43,409
		69,388		393,878
Creditors: amounts falling due within one year	5	( 1,334,114)		( 1,491,755)
Net current liabilities		(1,264,726)		(1,097,877)
Total assets less current liabilities		503,153		404,884
Provision for liabilities	6	( 93,026)		( 21,457)
Net assets		410,127		383,427
Capital and reserves
Called-up share capital		300		300
Profit and loss account		409,827		383,127
Total shareholders' funds		410,127		383,427

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Le Tilleul Limited (registered number: 11070533) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

P Idelson Smith Director

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

Le Tilleul Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O S&W Partners Llp Onslow House, Onslow Street, Guildford, GU1 4TL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Le Tilleul Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company 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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Financial instruments

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

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.

Derivative financial instruments are classified as other financial instruments. They are measured at fair value on initial recognition and at the end of each reporting period, with changes in fair value recognised in profit or loss.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Fixed asset investments

	Listed investments		Other investments		Total
	£		£		£
Cost or valuation before impairment
At 01 April 2024	1,151,552		351,209		1,502,761
Additions	476,875		0		476,875
Disposals	( 297,247)		0		( 297,247)
Movement in fair value	85,490		0		85,490
At 31 March 2025	1,416,670		351,209		1,767,879
Carrying value at 31 March 2025	1,416,670		351,209		1,767,879
Carrying value at 31 March 2024	1,151,552		351,209		1,502,761

4. Debtors

	2025		2024
	£		£
Prepayments	300		269
Other debtors	200		350,200
	500		350,469

Other debtors represents unpaid share capital.

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to directors	1,320,535		1,478,513
Accruals	13,579		13,242
	1,334,114		1,491,755

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 21,457)		( 39,166)
(Charged)/credited to the Statement of Income and Retained Earnings	( 71,569)		17,709
At the end of financial year	( 93,026)		( 21,457)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Capital gains	( 94,318)		( 23,955)
Losses and other deductions	1,292		2,498
	( 93,026)		( 21,457)

7. Related party transactions

Included within creditors due within one year is an amount of £1,320,535 (2024 - £1,478,513) owed to the director. This amount is unsecured, interest free and repayable on demand.