REGISTERED NUMBER: 03884015 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

LILLIPUT TEXTILES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

L E J Foster

REGISTERED OFFICE:

58 West Street

Bridport

Dorset

DT6 3XD

REGISTERED NUMBER:

03884015 (England and Wales)

ACCOUNTANTS:

Galloways Accounting Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

768,968

1,421,290

768,968

1,421,290

CURRENT ASSETS

Stocks

6

75,491

71,628

Debtors

7

744

3,648

Cash at bank and in hand

6,139

18,636

82,374

93,912

CREDITORS

Amounts falling due within one year

8

418,136

1,197,727

NET CURRENT LIABILITIES

(335,762

)

(1,103,815

)

TOTAL ASSETS LESS CURRENT LIABILITIES

433,206

317,475

CREDITORS

Amounts falling due after more than one year

9

13,004

64,236

NET ASSETS

420,202

253,239

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

420,102

253,139

420,202

253,239

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 April 2026 and were signed by:

L E J Foster - Director

1.	STATUTORY INFORMATION

Lilliput Textiles 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.

Turnover relates to sales of products typical for a department store.

Turnover is recognised when: The amount of revenue can be reliably measured; it is probable that the future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

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.

Tangible fixed assets

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

Freehold property

-

Over the term of the lease

Fixtures and fittings

-

25% on cost and 15% on cost

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 7 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

150,000

AMORTISATION

At 1 April 2024

and 31 March 2025

150,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

1,671,364

67,220

11,500

1,750,084

Additions

280,813

1,131

22,500

304,444

Disposals

(1,002,633

)

-

-

(1,002,633

)

At 31 March 2025

949,544

68,351

34,000

1,051,895

DEPRECIATION

At 1 April 2024

254,245

64,200

10,349

328,794

Charge for year

18,356

938

4,037

23,331

Eliminated on disposal

(69,198

)

-

-

(69,198

)

At 31 March 2025

203,403

65,138

14,386

282,927

NET BOOK VALUE

At 31 March 2025

746,141

3,213

19,614

768,968

At 31 March 2024

1,417,119

3,020

1,151

1,421,290

6.

STOCKS

2025

2024

£

£

Stocks

75,491

71,628

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

3,527

Other debtors

744

121

744

3,648

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,317

15,870

Trade creditors

31,820

49,710

Taxation and social security

930

12,094

Other creditors

375,069

1,120,053

418,136

1,197,727

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

13,004

64,236

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

23,321

80,106

The bank loans are secured by fixed and floating charges over assets owned by the company.

11.	OTHER FINANCIAL COMMITMENTS

In addition to the above the company is a member of Cophet LLP and is liable to contribute to the assets of the LLP in the event of a winding-up before 1 April 2025. The maximum liability in relation to this undertaking is £85,118. The company does not believe that a winding-up of the LLP is probable and has not made provision for the liability at 31 March 2025.