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Company Registration No. 04281045 (England and Wales)
Tillett Limited Unaudited accounts for the year ended 31 October 2025
Tillett Limited Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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Tillett Limited Company Information for the year ended 31 October 2025
Directors
S M Tillett M L Tillett
Secretary
M L Tillett
Company Number
04281045 (England and Wales)
Registered Office
Styles Close Sittingbourne Kent ME10 3BF UK
Accountants
Lynxexcel Ltd 26 Royston Road Bearsted Maidstone Kent ME15 8NS__
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Tillett Limited for the year ended 31 October 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tillett Limited for the year ended 31 October 2025 as set out on pages 5 - 9 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Tillett Limited, as a body, in accordance with the terms of our engagement letter dated 4 October 2017. Our work has been undertaken solely to prepare for your approval the accounts of Tillett Limited and state those matters that we have agreed to state to the Board of Directors of Tillett Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tillett Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Tillett Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tillett Limited. You consider that Tillett Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Tillett Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Lynxexcel Ltd Chartered Certified Accountants 26 Royston Road Bearsted Maidstone Kent ME15 8NS__ 24 May 2026
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Tillett Limited Statement of financial position as at 31 October 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
505,147
617,496
Current assets
Inventories
5
624,213
599,537
Debtors
6
1,868,157
1,734,970
Cash at bank and in hand
1,149,418
760,753
3,641,788
3,095,260
Creditors: amounts falling due within one year
7
(456,493)
(328,360)
Net current assets
3,185,295
2,766,900
Total assets less current liabilities
3,690,442
3,384,396
Creditors: amounts falling due after more than one year
8
(271,313)
(319,261)
Provisions for liabilities
Deferred tax
(38,700)
(38,700)
Net assets
3,380,429
3,026,435
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
3,380,427
3,026,433
Shareholders' funds
3,380,429
3,026,435
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by
M L Tillett Director Company Registration No. 04281045
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Tillett Limited Notes to the Accounts for the year ended 31 October 2025
1
Statutory information
Tillett Limited is a private company, limited by shares, registered in England and Wales, registration number 04281045. The registered office is Styles Close, Sittingbourne, Kent, ME10 3BF, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in Pound sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% on cost
Motor vehicles
10% on cost
Fixtures & fittings
10% on cost
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
- 6 -
Tillett Limited Notes to the Accounts for the year ended 31 October 2025
Deferred taxation
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 accounts. 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 current tax rates and laws.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due. The assets of the scheme are held separately from those of the company in an independently administered fund.
Group accounts
The company has taken advantage of the exemption conferred by The Companies Act 2006 from the preparation of group accounts on the basis that the company and its subsidiary constitute a small group, within the meaning of section 383 of the Act.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 November 2024
1,052,327
106,061
175,760
1,334,148
Additions
43,000
43,000
1,118
87,118
Disposals
(183,954)
(38,771)
(128,360)
(351,085)
At 31 October 2025
911,373
110,290
48,518
1,070,181
Depreciation
At 1 November 2024
580,125
51,108
85,419
716,652
Charge for the year
95,050
8,521
18,406
121,977
On disposals
(158,028)
(38,771)
(76,796)
(273,595)
At 31 October 2025
517,147
20,858
27,029
565,034
Net book value
At 31 October 2025
394,226
89,432
21,489
505,147
At 31 October 2024
472,202
54,953
90,341
617,496
- 7 -
Tillett Limited Notes to the Accounts for the year ended 31 October 2025
2025
2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
100,683
112,413
- Fixtures & fittings
11,522
20,825
5
Inventories
2025
2024
£
£
Finished goods
624,213
599,537
624,213
599,537
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
317,006
240,477
Amounts due from group undertakings etc.
1,547,863
1,350,237
Accrued income and prepayments
-
145,962
Other debtors
3,288
(1,706)
1,868,157
1,734,970
7
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
51,265
31,462
Trade creditors
341,548
286,699
Taxes and social security
(120)
(58,318)
Other creditors
60,000
43,000
Accruals
3,800
25,517
456,493
328,360
Taxes and social security include Research and Development tax credit of £87,198.22
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
99,313
86,261
Other creditors
172,000
233,000
271,313
319,261
The term of the loan provided by Kent County Council determine that a fixed and floating charge is held over pre-determined company assets. The KCC Soft loan is repayable at rate of £60,000 in the year ending 31 October 2026 and the balance of £172,000 is due in years after and including the year ending 31 October 2029.
- 8 -
Tillett Limited Notes to the Accounts for the year ended 31 October 2025
9
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Transactions with related parties
During the year, total dividends of £140,000 (2024 - £80,000) were paid to the directors. The company operates from premises owned by the directors. No rent is charged for the use of these premises. The company has provided a loan to Tillett Group Limited (Company No. 10947600, England & Wales), an entity under the same joint control as Tillett Limited. At the year end, the balance outstanding from Tillett Group Limited was £1,547,863 (2024: £1,350,237). The loan is interest‑free for the year and repayable on demand. Tillett Group Limited owns 100% of the share capital of Tillett Limited. Tillett Holdings Limited (Company No. 05627107, England & Wales), which is also under the same joint control as Tillett Limited, continues to be a dormant company.
11
Controlling party
The ultimate controlling party is S M Tillett and M L Tillett by virtue of their shareholding.
12
Average number of employees
During the year the average number of employees was 49 (2024: 53).
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