REGISTERED NUMBER: 14698423 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

FOR

TILA LIVING LIMITED

PREVIOUSLY KNOWN AS

MET NO 1 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J Murphy

H M Murphy

SECRETARY:

R H Smith FCA

REGISTERED OFFICE:

1 Westmoreland Avenue

Thurmaston

Leicester

LE4 8PH

REGISTERED NUMBER:

14698423 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

CURRENT ASSETS

Stocks

174,307

83,589

Debtors

4

1,341

4,206

Cash at bank

3,643

1,188

179,291

88,983

CREDITORS

Amounts falling due within one year

5

(182,515

)

(90,381

)

NET CURRENT LIABILITIES

(3,224

)

(1,398

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,224

)

(1,398

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(3,324

)

(1,498

)

(3,224

)

(1,398

)

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

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

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2026 and were signed on its behalf by:

J J Murphy - Director

1.	STATUTORY INFORMATION

Tila Living Limited is a limited company, registered in England and Wales. Its registered office address is 1 Westmoreland Avenue, Thurmaston, Leicester, LE4 8PH and the registered number is 14698423.

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. This is the first period that the company has presented its results under Financial Reporting Standard 102. There were no changes to the profit or loss or total equity following the adoption of the standard.

Going Concern

At 31 August 2025 the company had net current liabilities and net liabilities of £3,224 (2024: £1,398). The directors have prepared the financial statements on a going concern basis as the directors will make sufficient funds available to ensure the company can meet its debts as they fall due.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 the profit and loss for the period.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

1,341

4,206

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

45,232

-

Directors' current accounts

136,033

89,381

Accruals and deferred income

1,250

1,000

182,515

90,381

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the period end the company owned £136,033 (31 March 2024: £89,381) to JJ Murphy, a director of the company. The balance is unsecured, due on demand and does not incur interest charges.